How old does a penny have to be for it to be worth money?
How about a silver dime?
Until samclem comes along with a more detailed response:
Mintage and condition are more important in determining value than just age. With Lincoln cents, there are relatively few “valuable” coins, unless they are in Uncirculated condition–not something you’re likely to find in Aunt Bessie’s Mason jar. When I was in high school, I sold three rolls of Lincoln wheat-backs (no key dates, of course) for $5.00 (total)–and I thought I had made a killing.
Silver Roosevelt dimes don’t contain much in the way of key dates. So, unless it’s in Uncirculated condition, it’s probably only worth the weight of the silver–and they typically go for about 25 or 30 cents.
There are some key *Mercury dimes (1916-1945), but again they’re not worth all that much unless they’re in “really good” (I’d say maybe “Extremely Fine” at least) condition.
*I know.
So, whaddya got?
In the 1950s, my father and I found a 1909-VDB (Phila., not SF, alas!) in nearly uncirculated condition in a roll of coins from the bus company (whose owner was a friend of my fathers). I have no idea what that would be worth today – our collection was stolen from my house after his death. We also regularly found Indian Head cents, at a rate of about 1:3,000, in rolls of cents in circulation; probably 3/4 of our Indian Head collection was put together from circulation.
It’s very rare that you’ll find a valuable coin in pocket change. But it can and does happen.
As Mjollnir said, it’s not so much the age that determines the value of a coin. It’s the following things:
Condition - proof and uncirculated coins are almost always worth more than circulated ones.
Mintage - coins minted at certain locations might be worth more than others. On the east cost of the US, almost all of the coins in circulation are from the Philadelphia mint. Locally, coins from Denver are worth a tiny bit more. Historically, coins from mints in San Francisco or New Orleans tend to be worth more as those mints are no longer in business.
Quantity produced - Like most anything else, if there are 10 gillion of the thing, it’s worth less. This is why a copper 1943 penny is worth so much - apparently the mint only made like 6 of them before FDR ordered the rest to be made out of steel (copper being needed for the war effort). On the other hand, one of the “silver pennies” from '43 is worth more than a 1942 or 1944 one because the 1943 ones were limited to that year, IIRC. This also explains why rare minting errors - since they are usually one of a kind - can make a circulated 2001 coin worth far more than an uncirculated 1902 one. I can’t remember the details, but I recall seeing a show on TLC about a guy that had one of the 50-state quarters that had (something like) the Connecticut design on one side and the New Jersey design on the other side. The coin was worth $250,000 IIRC.
Metal content - Keeping the above rules in mind, coins made out of a precious metals like silver or gold are worth more than coins that are either “clad” (thin coating of) silver or non-precious (today’s quarters are clad in nickel, I think).
Demand - Keeping the above rules in mind, you can’t forget demand. I’ve been out of coin collecting for years, but there are some coins that people just want and will be willing to pay more for. “Peace dollars” from the 1920’s come to mind.
I’m giving you off-the-cuff info here.
You would have to go back to the 1931-S cent to have something. Worth about $25-50 depending on condition. But they were pulled out of circulation pretty much by 1945.
Before that, the 1914D, about $50-150. But they were gone by 1945.
Start to see the picture?
If you were alive in the Depression, there were things to be found. But you probably were too busy staying alive to put aside coins.
After WWII, people had more money and more free time. But the goodies were being removed from circulation rapidly.
I found 1909VDB cents as late at 1968 in change. We buy them now for $1-$5 each.
The 1909-S VDB cents, now worth $300-900 were all pulled out before WWII.
A silver dime would have to be the 1921 to be worth $10-30. Nothing since then worth squat.
Common silver dimes we currently pay 32 cents each.
Ignoring mint errors like the 1955 and 1972 doubled-dies, how about the 1960 small date? I was thinking they were worth a few dollars (uncirculated, anyway), but I’m not certain that’s still the case. Not $25-50, mind you, but a few dollars is a pretty significant amount for a penny, IMHO.
The 1955 double die cents I ignored as they were removed by the coin people in a short year or so around that time. Someone could accidently have one in a random accumulation, but not very probable.
The 1960 small date cent was relatively valuable in the mid-1960’s when there were investors in the market chasing stupid things. Today, not many people care. We sell them for $1 today. And they still are overpriced.