Are your old pennies worth millions? Experts say you shouldn't bank on it. However, some wheat pennies could be worth hundreds; here's how to find out.

The United States wouldn't be the first country to eliminate the coin, Turco said. Canada, for example, decided to phase out its penny in 2012. In the U.S., the Department of Defense stopped using pennies at its overseas bases in 1980 because it became too expensive to ship them.