Who says it's silly to collect ordinary pennies?

Doesn't look like anyone posted about this - a guy who cashed in 500,000 pennies!



Otha Anders cashes in 45 years of pennies

http://www.usatoday.com/story/news/...es-pennies-hes-been-saving-45-years/74727160/

 

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That's 45 years of screwin' around just for 5000$!! Not to mention how that many cents actually weighed. I bet the bank tellers loved to see him walking in!

 

Who's rushing to Ruston Origin Bank to get a look at all those unsearched cents?!

 

If any are even there anymore - story was from October 28 - 2015

 

Good catch. I wonder how many error coins, wheat cents, and other goodies he dumped back into circulation.

 

Im about to cash in a grand tomorrow

 

There are roll searchers who do that in a year.

 

Without even reading the story, I can see 45 years of compounded interest flushed right down the toilet.

That $5,000 could very well have been $10,000 or even $25,000 had he not let that coin languish, interest free, in those 5 gallon water jugs.

While the story is a testament to one's man's perseverance, it's also a testament to his ignorance regarding financial matters.

 

Agreed, 500,000 cents is about $111 a year. If that $111 had been invested each year in something that at least kept up with inflation, after 45 years he would have had $10,600. So by just hording the cents he "lost" at least $5,600.

 

And Indian head and flying eagles........

 

Not even that... if he had invested the $111.11 per year at just 2% (and savings rates for many of those years were MUCH higher), he would have 54,700 and change instead of 50,000$

 

You might need some help to move 'em.

Total weight of $1,000 in pennies is about 550 lbs. (Assuming all 2.5-gram newer pennies.)

 

Why would I collect British coins?

 

Yes, I do reading this article on MSN news the day that it happened.
I have another great story about a record King Salmon and pennies. The record King Salmon
Caught on a rod and reel, (THERE HAVE BEEN LARGER ONES CAUGHT BY SET NETTERS).
Anyway on. May 17, 1985 Les Anderson from Soldotna Alaska caught a 97 pound King on the Kenai
River. At the time he owned. The Ford Dealer Ship in Soldotna. It made front page news in the Anchorage news paper, and on the two local TV stations.
A short time later he was on the front page of the paper and back on the TV stations. A guy came in
To his car dealer ship, purchased a new Ford Truck and paid cash with pennies. Sorry I can not put
A link in here, because I am confined to bed and not able to put a link in with this IPad.
If you want to read the story just goggle Kenai river world record salmon.

 

If people like me don't collect them, who will? That's the reason why things do not survive.

 

This made the local news here in East Texas ( my local stations are Shreveport). 45 years ago is when I was roll searching as a YN and pulling all kinds of goodies. You have to wonder what he dumped back into circulation.

 

I found this 89 penny with a small 7 stampef between we and trust what do I make of it do I ignore it?

 

@louiehernandez dont hijack threads.

 

Yes. Ignore it.

 

I do as a matter of fact, I have several thousand halfpennies and pennies from ca. 1690s on up to 1967 - sitting in a great big jug.