Penny's adds up

bergie · Dec 26, 2016

After 45 years of collecting, Anders had a total of 15 water jugs filled to the brim with pennies. With the help of his friends and family, he was able to wheel the jugs into his local Ruston, Louisiana bank to finally cash in all that change, a huge relief after all these years.

You might wonder how that would feel to finally cash in all of your hard work? Plus, you might wonder how much he made.

15 five-gallon water jugs filled to the brim with pennies were brought into the bank, but Anders left with a much lighter load – an extra $5,136.14 deposited into his bank account.

GKL · Dec 26, 2016

Wow, nice haul !!!!

I wonder if he was checking for wheaties and pre 1982 pennies as he was collecting them.

The pre 1982 pennies are worth more than the one cent face value according to this article -

The Copper Penny Is Worth More Than One Cent

https://www.thebalance.com/the-copper-penny-is-worth-more-than-one-cent-809218

of course the melt down price would be illegal to benefit from according to this quote from the article -

"A Strong Warning !
Obviously, there is a big roadblock when it comes to this investment idea. It is illegal to melt down pennies and nickels. Therefore, you would have to consider owning copper pennies and nickel nickels as a long-term investment. In 2006, the U.S. government imposed a penalty for melting these coins of as high as a $10,000 fine and five years in prison, or both. The U.S. mint will stop making pennies in 2017 because of the high price of minting the coin."

then the article goes on to say -

"Many other countries have already done away with their version of the penny. When the penny is abandoned, it is likely that it will become legal to melt the coins down for their copper content. The status of the nickel will not change in 2017, but it may in the future."

bergie · Dec 26, 2016

GKL said:
Wow, nice haul !!!!

I wonder if he was checking for wheaties and pre 1982 pennies as he was collecting them.

The pre 1982 pennies are worth more than the one cent face value according to this article -

The Copper Penny Is Worth More Than One Cent

https://www.thebalance.com/the-copper-penny-is-worth-more-than-one-cent-809218

of course the melt down price would be illegal to benefit from according to this quote from the article -

"A Strong Warning !
Obviously, there is a big roadblock when it comes to this investment idea. It is illegal to melt down pennies and nickels. Therefore, you would have to consider owning copper pennies and nickel nickels as a long-term investment. In 2006, the U.S. government imposed a penalty for melting these coins of as high as a $10,000 fine and five years in prison, or both. The U.S. mint will stop making pennies in 2017 because of the high price of minting the coin."

then the article goes on to say -

"Many other countries have already done away with their version of the penny. When the penny is abandoned, it is likely that it will become legal to melt the coins down for their copper content. The status of the nickel will not change in 2017, but it may in the future."

I save all copper pennies looks like I will have to start saving them all. If they quit making them in 2017 that means my penny gumball machine will no longer be usable. The grandkids like to get bubblegum out of their there goes my retirement fund :lol:

.I guess I'll have to jack the price up to $.10 course will have to change mechanism more money for retirement fund :lol:

Ace400 · Dec 26, 2016

I guess Illinois finally caved.

bmattioli · Dec 26, 2016

Did Anders get a pic of this?? It would have been quite the sight..

GKL · Dec 26, 2016

bergie said:
I save all copper pennies looks like I will have to start saving them all. If they quit making them in 2017 that means my penny gumball machine will no longer be usable. The grandkids like to get bubblegum out of their there goes my retirement fund.I guess I'll have to jack the price up to $.10 course will have to change mechanism more money for retirement fund

(I used to have the bulk candy vending machines that only took quarters)

amc rulz · Dec 26, 2016

Impressive, although he should have just hid the cash he received from the bank, in his mattress.

dirt dick · Dec 27, 2016

$5136.14 wonder if he felt cheated or flat,
getting 5 coins ( a dime and 4 pennies) or thought about starting over :?:

Penny's adds up

bergie

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amc rulz

dirt dick

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