WICHITA, Kan. (KSNW) — President Trump has ordered the Treasury Department to halt the production of pennies. He argues that this is because copper coins are costly and no longer necessary. The U.S. Mint reported losing over $85 million last year in making over 3 billion pennies.
How could that trickle down to local coin and penny collectors? The penny, often lost in pockets and couch cushions, is the centerpiece for some. The obvious answer is that a halt in production would increase value, but a local coin collector and antique store owner says it may not be that simple.
“Coins are a work of art,” Dave Simmons, Bondie’s Antique Mall manager, said. “They’re just sculpted, really beautiful items. Also, it’s history.”
Simmons has been collecting coins for many years.
“I grew up in Winfield, and I had a neighbor that was a collector down there. When I’d work in his garden, he’d give me a coin,” Simmons said. “Getting into this business, it’s an old thing, and it’s just kind of part of this.”
Old coins and pennies can fit the antiquated description. In his 20 years managing the antique mall, he’s seen collectors come and go.
There are billions of pennies in circulation, and until now, more every year. This leaves penny collections oversaturated. With the pause in production, Simmons sees the phasing out of the penny as a natural progression.
“We don’t produce $2 bills anymore. We don’t produce, you know, gold coins anymore,” he said.
As for their potential increase in value, Simmons says new pennies are never more valuable than their assigned worth.
“It’s just another spot to fill in a book. There’s lots of things to collect and lots of books to fill without worrying about a 2026 or 2027 coin not being there,” he said.
It could take generations for — sometimes decades old — pennies to gain substantial value. Regardless, the scarcity tends to generate interest.
The change to pennies can generate new value for an old hobby.
“You know there’s a lot of things that are collectible that we just don’t have a need for anymore, and that’s what makes them collectible,” Simmons said.