Made with real silver and gold back then I think. My great grand father always boarded pennies under a generational wealth belief. This belief transferred down to my father. When he passed last year we had buckets full of pennies. Only the older ones pre-1948 (I think) had any value due to the cessation of gold and silver content. The remainder were more or less worthless. All three of them would be rolling in their graves. Sill got some gold guineas though!