I really enjoyed the section which explained his trading relationship with his friend. That's what it's all about!
Very cool story. Also close to home. We used to travel to Ruston in the college days to party with the other Greeks. Good days.
This is an interesting story. Two things stood out to me in this article. The first is this, "Anders said he has truly enjoyed looking at his penny collection to the extent that in the 1970s, when the U.S. government offered a $25 bonus for every $100 worth of pennies turned in, he refused to cash in his collection." I haven't heard of this before wherein the government in the 1970's offered a $25 "bonus" for every $100 worth of pennies (or cents) turned in. Is anyone familiar with this? The second is this, "But now, since Anders homeowner's insurance policy does not cover his collection, he has reluctantly turned them in to Origin Bank." Was he afraid of someone carting off his undoubtedly very heavy water jugs full of cents or losing them in a fire? I'd imagine they'd be more trouble than they're worth to most would-be thieves. He and his family likely figured they would need to be turned in sometime so they might as just get it over with.
There were some banks, I believe BoA was one of them that were offering $1.05-1.10 for every dollar's worth of cents deposited ca. 1974 or so. No one was offering $25 for every $100 though.
I remember one friend who filled 2 jugs with cents way back and was very pleased but this many is amazing!....
The Mint did offer a certificate of appreciation signed by Director Mary Brooks for returning $25 worth of cents.
I read the article about the guy cashing in his pennies. The guy was smart in one way, but sure lost out in another. If he started saving those pennies in the 1960's, the wheat cent was very common then. Every 50 of those are being sold by dealers at $6 dollars a roll. Then there is a chance of finding a rare Date in there, making the loss even bigger. This is a good article on saving, but also a lesson on investigating what you have before selling. I am sure the owners of that Bank were more than happy to take those off his hands and the customer service was more than excellent. Comical how we all see things different.
This was my first thought. If half were copper - he lost money. If any were rare, he lost money, and any coin club would have more than willingly helped him hunt through the collection! I'm glad he got satisfaction out of it - because that is the true end game result - but we can only wonder how many dbl-die 1955's were in there...
Always been a self collector, never discussing coins other than when buying them. Terminology therefore is not a strong point. I may not be understanding what you all are saying, however: after taking the coin out of the 2x2 a second time, lightly rubbing my finger across the rim, I feel it raise not lower reaching the point in question. Maybe I have been living an optical illusion my whole life and don't know it. lol
