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Pennies minted in this time were made of more copper than the pennies minted today. These pennies (made of 95% copper) are technically only worth the face value. However, while it is not yet legal to melt them down, they contain a higher metal value of about $0.0254 or 2.54 cents. Some of the older coins, especially those in great condition, are worth closer to 3 or 4 cents.

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