Man collects pennies for nearly 50 years before cashing them in for incredible amount (2024)

FAQs

How much did the man get who cashed in 45 years worth of pennies? ›

In the end, it was determined that Anders' collection of 513,614 pennies was worth over $5,136.

In 2015, Anders, 73-year-old then, had collected 15 five-gallon plastic containers full of pennies. The Louisiana teacher expressed that he loved looking at his massive collection every day.

81-year-old Ira Keys said he started saving his pennies back in 1952 and hasn't stopped since. Keys says he hasn't spent a penny since high school! Keys finally decided it was time to part with his collection, and hauled about 500 pounds of pennies down to a local bank.

The manager of Ed's Service Station broke the record of the largest ever single cash-in of pennies with 1,308,459, or $13,084.59.

grams. value of your coins to be $450.80.

Mint's estimate of 2.5 grams a coin, it might have been around 2,800 pounds. Even over 45 years, it's hard to acquire a collection of over 500,000 pennies without a little help.

Most Valuable Pennies From the Late 1800s

It's rare to find coins that are over 100 years old with a lot of detail remaining. Very few of these coins have survived in good condition, which increases the demand from coin collectors and the value.

CoinTrackers.com estimates a penny in average conditions to be worth $8,000, and one in mint state could be valued at $25,000.

The short answer is no—or at least, not yet. The U.S. Mint has no plans to discontinue the penny, and such a move would require congressional approval. However, the “Penny Debate” continues in the United States, with pro- and anti-penny advocates both making some pretty solid points in their arguments.

Fifteen five-gallon plastic water jugs and half a million pennies later, Anders on Tuesday deposited $5,136.14 into his account to go toward a recent dental bill. He cashed in the coins to the Ruston Origin Bank, in Ruston, La.

Why were pennies removed? ›

tap here to see other videos from our team. That was until the federal government decided to take the penny out of circulation in the 2012 federal budget, following a finance committee study that deemed the coin too expensive to produce and no longer necessary.

When a coin has no mint mark, can it still hold value? The short answer is sometimes. Certain coins without mint marks are extremely valuable, but it's essential to watch out for the coins that were altered or damaged by someone outside the mint.

One reason these coins are so valuable has to do with what they are made of. As GOBankingRates previously reported, any penny minted before 1982 contains 95% copper. Copper pennies are a relatively common find in a penny roll, which lowers their value.

The 1969-S Lincoln Penny – Doubled Die Obverse is one of the most rare pennies sought after by collectors. This variety coin was designed by Victor D. Brenner and Frank Gasparro and features the Lincoln memorial penny design of Abraham Lincoln on the obverse and the Lincoln Memorial on the reverse.

To find out how many dollars you could make with 1 million pennies, divide 1 million (the number of pennies you have) by 100 (the number of pennies in one dollar). One million pennies equals 10,000, or ten thousand, dollars.

Answer and Explanation: If one could count one penny each second, it would take approximately 11.574 days (or 11 days and about 14 hours) to count one million pennies.

How many dollars is one billion pennies worth? One billion pennies is equal to 10 million dollars. To convert pennies to dollars, we can divide the number of pennies by 100, since there are 100 pennies in a dollar. So, 1 billion pennies / 100 = 10 million dollars.