Posted on 01/19/2015 8:14:45 PM PST by Citizen Zed
Save every penny you encounter over more than 60 years, and you could end up with 500 pounds' worth. But that lifetime of saving may be worth more in bragging rights than in financial gain.
A Texas man has deposited his 81,600-penny collection, wowing bankers and earning him a spot in the news—though the coins themselves were worth just $816. Ira Keys, 81, of Slaton says he started saving in 1952 on his father's advice, KCBD reports. "He says, 'Whatever you do, son, save your money,'" Keys says. "I didn't have a lot of money, so I saved pennies and I just kept saving them."
(Excerpt) Read more at kvue.com ...
True. The pre-1982 pennies are copper. They’re worth more melted down than the face value.
Now he’s got enough for a new set of tires and couple bags of groceries.
500lbs pre 1982 melt value @ $1,223.98..
yes melt the stuff down
Total Face Value:
| $816 | ||
| Coin Type: | 1909-1982 Lincoln Copper Cent | |
| Copper Price: | $2.5571 / pound | |
| Zinc Price: | $0.9284 / pound Total melt value is $1,385.09. |
|
I’ll probably get some crap for this but I just toss my pennies in the trash or out on the street when I get them as change. If there’s a penny jar at the counter, I’ll put them there but otherwise, they are out on the street or in the trash before I get to my car.
Sorry Ben Franklin ... a penny just isn’t what it used to be!
Ping.
Throwing money in the trash? On the street?
that’s tacky
In high school there was a kid who chased pennies and was not embarrassed about it at all.
a barometer of true inflation
I figure our 401K s will do about as well with a little Social Security added in.
I use my pennies to light cigars. The secret is you put 50 of them in a paper roll.
Melting pennies is illegal.
Yes, but it is against federal law to melt them down, so if you want to do it, you had best be a bit careful.
Why? All the Federal gov't does is burn money.
Maybe...
Actually he could spend it all on a new set of semi good tires, and he’d still owe $.
Ya look at these people rolling through the cash line at the local big food giant and they’re pay $500 for a 8 sacks of food...The $ is becoming a worthless joke.
I actually save mine. I didn’t start intentionally. I just always toss my extra change at the end of the day on the dresser, and take the same combination with me in the morning. I end up getting a glut of pennies using that system, and I can’t be bothered to take them to the bank for 5 or 10 bucks. So, when the dresser gets too cluttered, I find something to stash them in. Often there are some dimes, nickels and quarters mixed in too, but mostly pennies.
I have no clue how much I have stashed away at this point, but I would imagine there is at least 100 pounds of loose change in various bags and cans around my house. I keep telling myself: “hey if I go broke, this is cigarette money for a few weeks”.
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