Mass. — The United States government has stopped minting pennies, leading to a surge in interest in coin collecting as both a hobby and a financial investment.
This shift has turned common loose change into a sought-after commodity, with some rare coins selling for millions of dollars.
The end of the penny’s production led to a mock funeral for the coin, which experts say sparked renewed interest in numismatics. Collectors are now focusing on specific dates, grades, and coin types to build generational wealth through precious metals and antique currency.
Tim Heroux, a numismatist and boutique dealer who operates Boston Coin in Quincy, assists a growing number of new and experienced collectors.
Heroux noted that there is no single correct way to approach the hobby.
“It is no wrong way to collect,” Heroux said. “So you can collect by date, you can click by grade, and some people click by each type. They want one of every coin the U.S. Mint ever put out. Some people collect by the birth years of the children.”
For those entering the field, Heroux suggests starting small, perhaps by beginning a Lincoln-penny album.
He emphasizes that the financial value of a coin is often determined more by its preservation than its age. “Condition census is a big part of coins,” Heroux said.
“You could have a common date coin that might only be worth a few dollars, but if it’s in the right condition, it could be a windfall of thousands.”
Maintaining that condition requires specific handling techniques to avoid long-term damage. Heroux advises against cleaning coins and warns that even human breath or fingerprints can degrade a coin’s surface.
“You always hold up by the edge, always,” Heroux said. “Because even if you put your finger on it or your thumb on it and you might leave a mark now, later on with the air and the carbon in the air, it will leave a mark and breathing on a coin too.”
As the market for rare coins grows, Heroux cautioned that collectors must remain vigilant against fraudulent items. “Anytime there’s money involved, there’s corruption, so you have to be very careful even with me,” Heroux said. “I’ve had a lot of fakes come in... if I wasn’t on my a game and have my a nice cup of coffee I might have it.”
The interest in coin investment is shared by several Massachusetts residents, including a collector named Robert from a Boston suburb.
Robert has invested in 2025 pennies and maintains a collection of silver dollars and antique coins worth thousands of dollars. Similarly, Courtney Kinniberg of Braintree began collecting as a child and now views her compilation as a legacy for her family. Kinniberg explained that she focuses on coins that retain their worth over time.
“Yeah, so like investing in some generational wealth right now. It was like something I passed down to her like bullion and things like that, things that won’t lose their value,” Kinniberg said. “And especially like some numismatic coins that have silver in them.”
While collectors can track their own inventory, new technology is helping people evaluate their loose change.
An app called Coin Snap allows users to photograph a coin to learn its history, circulation numbers, and estimated value for a $40 annual subscription. While these apps offer price ranges, experts consider the updated “Red Book” to be the definitive guide for coin collectors.and
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