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If "olden days" means "when the coins were new", the answer is that like any circulating coins at the time, they were only worth face value.
The only 2 pure copper coins that the US issued were half-cents and Large cents, from 1793 to 1857. Of course at that time they had far higher purchasing power than similar denominations do today.
Both coins were discontinued in 1857. The 1¢ coin was downsized to its current diameter of 19 mm. Initially they were made of a copper-nickel alloy but after a few years that was changed to bronze, which was 95%-pure copper.
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∙ 13y ago
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Discuss the purification methods used in the olden days
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