man who collected pennies for 45 years

He says he finally cashed in because his insurance policy won't cover the collection, according to the News-Star. When he found out that his homeowner's policy no longer covered his pennies, he had no choice but to cash in his collection of over 45 years. Cole said the bank will then send the pennies off to the FDIC, and the bank will receive their credit for them. But what was he going to do with his saved money? This material may not be published, broadcast, rewritten, or redistributed. Anders loved his pennies, they were his prized collection. Part of HuffPost News. Man saves coins for 45 years, cashes in over $5,000 in pennies. Although Anders didnt have time on his side, he did have volume. "I would never spend a penny," he said. But one Louisiana man gathered more than 500,000 pennies over the course of 45 years. It must have been fun watching the water jugs get filled with so much pennies because Otha decided to continue doing it for the years to come. This cookie is set by GDPR Cookie Consent plugin. October 29, 2015 By Coin Update 13 Comments. "But if we can help Anders with his endeavors, we are happy to do so.". "I never allowed anyone, not even my wife nor children, to give me pennies without being compensated," he said. "We value his business, as we do all of our customers," he said. Senior vice president of the Origin Bank in Ruston, Louisiana, Ryan Kilpatrick said that they were not prepared for such a huge amount to come rolling through their bank. Back in 2015, he had to finally cash them in becausehis homeowners insurance policy no longer covered his pennies, and he needed some extra cash. Market data provided by Factset. The plastic jugs had to be opened with an ax and hammer, and the bank was not prepared for such a large collection even though Anders had called a week prior to inform them that he would be coming with a colossal amount of pennies. Its shocking, for sure, he said. And after acquiring over a half million of these coins, he finally cashed them in on Tuesday at Origin Bank. Over a few years, a random collection of coins can amount to a fancy night out or give you the exact amount to buya beautiful outfit. He had saved pennies for most of his life a whole 45 years. Total Savings. Where many people think of wishing on a penny, Otha Anders thinks of praying on a penny! "I would break a dollar before giving up a penny.". The plastic jugs were hacked open by an ax and hammer. I would break a dollar before giving up a penny.. As the report tells it, Otha Anders started more than 45 years ago when he found a penny on the ground and decided to save it. Bank Vice President Jennie Cole told reporters that it was not a typical day at the bank when Anders rolled in with his collection of pennies on a dolly.Im not sure exactly, Anders said. He never knew just how much money he would make. Thats what happened to the owner of a 1943-S Lincoln Wheat penny. The counting and processing of the coins took a total of about five hours, according to the News-Star. Five of Anders' closest friends and family helped him and bank employees load the coins from the back of a pickup truck into the company's coin room. Asian-American Affairs Reporter, HuffPost. It was actually his religion that started the penny collecting. The process of counting took so much time because the coin bag had to be changed every 20 minutes after it would reach$50. Guy Who Saved Pennies For 45 Years Just Cashed Out. "I wanted the inner satisfaction that God and I acquired this collection.". He explained, I wanted the inner satisfaction that God and I acquired this collection., If I was at someones house and I found a penny, I would pick it up and I would keep it, I will always tell the person that if it was a quarter, I would give it back, but since it is a penny, Im keeping it. Cole said a machine counted the coins that saves much time, and Origin Bank's part is to help get the pennies counted, so Anders can get to his destination. By Christie. The same with coins that hold an error. Since then, Anders had been piling up the pennies, refusing to spend them and always making sure that whenever he bought something, his change had three or four pennies in it. Otha Anders has collected over half a million pennies during the last 45 years. It takes four quarters, 10 dimes, 50 nickels, or 100 pennies to equal a dollar. Share away, people! 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. You have to find 100 of them to get a dollar it is a lot of work. NEW YORK (CNN/Money) - Benjamin Franklin once said a penny saved is a penny earned, but he probably didn't think of saving over a million of them. Anders worried they would turn him away. Hed been saving pennies he found on the street for 45 long years. He would just find them and save them. I would guesstimate about 400-500,000 pennies?. The pennies were then poured into the coin machine with small plastic buckets. He watched suspended kids and loved his job. Nancy Bergeron/Ruston Daily Leader Soon his collection reached a full fifteen of them! "If I was at someone's house and I found a penny, I would pick it up and I would keep it," he said. The 73-year-old has some modest plans to spend his money. "Our exchange became competitive by each trying to outdo the other and consequently our collections; his nickels, my pennies began to multiply," he said. And they werent the only establishment to do so. He had no idea yet, but that effort resulted in a fortune, and it was all for him. It eventually became so much of a hobby that he would deliberately avoid ever spending pennies. It may inspire them to start a collection of their own. Anders had put all the pennies he found into water jugs. But if we can help Anders with his endeavors, we are happy to do so.. That was the goal, but I couldnt stop. See a penny pick it up and if you're like this guy who did that for 45 years you could eventually be walking away with a nice chunk of change.literally. But after collecting the one cent pieces for 45 years, you could have amassed a . I would say hes done a lot of collecting over the years., Vice President Jennie Cole also said that Anders was a long-time customer whom they wanted to help. But when they finally did, the actual amount Anders had saved all these years was incredible!When the manager walked out to see who was causing all the ruckus, his face lit up at the sight of Anders. How many were in there? Total Savings. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. Anders was able to put his money to good use and spend it on a dental bill that had just been issued to him.It was a happy coincidence that he found himself with more money just as an expensive bill landed in his lap. I never allowed anyone, not even my wife nor children, to give me pennies without being compensated. And that he did, he paid them for the pennies they gave him. Otha Anders cashed in his giant penny collection. Anders got in touch with the bank about a week ago to let them know he was bringing in a large amount of pennies, but senior vice president Ryan Kilpatrick told ABC News that nothing really prepares you for seeing fifteen 5-gallon jugs of copper rolled into your bank. Jul 2, 2018. A lot of us dont really mind the coins in our pocket, especially the ones with the smallest values but there are those who have proven that even the smallest coins can bring in a lot of cash; although youve got to spend decades to collect a lot to actually give you that much money! That first penny, he told the Star, reminded him that life is a gift from God. Bank Vice President Jennie Cole said it was not a typical day at the bank when Anders had his collection of pennies rolled in on a dolly, but Anders is a longtime customer who they wanted to help. Necessary cookies are absolutely essential for the website to function properly. As it turns out, he knew Anders quite well, Anders was a longtime, loyal customer who never gave them any problems so immediately knew they wanted to help him. The cookies is used to store the user consent for the cookies in the category "Necessary". For anyone whos trying to work it out, thats $114.14 a year, Anders was able to collect by picking up dirty old pennies left forgotten on the side of a street. And you think we have the time to count half a million pennies for you? she laughed. To Anders, 73, the pennies represent more than a nice pay day. When he finally took his collection over to the bank, tellers were staggered by the amount he had saved. Specifically, coins made of precious metals like gold, silver, platinum, palladium, and even copper fluctuate in value over time but generally become more valuable. For Anders, the process of collecting the coins meant more than the money he would make. "He did likewise with pennies for me." Cats And Cucumbers: Why Are Cats Afraid Of Cucumbers? Coins made of base metals, such as aluminum, have very little worth. Otha Anders started collecting pennies because he became "convinced that spotting a lost or dropped penny was an . Anders says he plans to use the cash to help pay a dental bill. Which side of value did they fall under? He also stopped spending pennies on purchases, preferring instead to put them in emptywater jugs, the Star reports. Then, one day, he decided to turn in the loose change. How many are there?, she asked. I would never spend a penny, he said. All of the kids love him and he was happy to look after them. He felt that every penny he found was a gift from God, but he had no idea that he would find many more gifts throughout his life. The Louisiana teacher loved looking at his massive collection so much that in the 70s, when the U.S. government began to offer a $25 bonus for every $100 worth of pennies turned in, he wasn't even a little tempted to take the extra cash. He looked at lost old pennies on the floor as his very own personal gift from God. Thats what happened to the owner of a 1943-S Lincoln Wheat penny. Powered and implemented by FactSet Digital Solutions. After 45 years of saving the coins and storing them in five-gallon jugs, he wheeled his collection in on a dolly to see how much he had. Otha Anders started more than 45 years ago when he found a penny on the ground and decided to save it. RUSTON, La. But the amount he eventually managed to collect was staggering. La. To get the pennies to the Ruston Origina Bank in Ruston, LA, Anders needed help.He ended up getting a couple of his friends to help move the five-gallon jugs full of pennies into his truck and then into the bank. This 73-Year-Old Man Has Collected Pennies For 45 Years And Now He's Cashing Out For 45 years, Otha Anders saved his pennies. There were simply too many to count so Anders could only guess that his collection contained hundreds of thousands of pennies but really, he had no idea. He started collecting pennies in the early 1970s. into his account to go toward a recent dental bill. I became convinced that spotting a lost or dropped penny was an additional God-given incentive reminding me to always be thankful, Anders said. "I would never spend a penny," Anders said. Pennies are small both in size and worth, but as a popular Indiansaying goes, "Drops of water collected eventually become a flowing stream." As the years passed, Anders continued to collect his pennies until he successfully filled fifteen five-gallon plastic water jugs with nothing but pennies. He cashed in the coins to the Ruston Origin Bank, in Ruston, La. It does not store any personal data. Any penny he receives as change or anything he finds in his walks, he puts inside the 5-gallon water jugs. It took at least 5 hours to process his pennies through a coin-counting machine until the sum was revealed. It has long been said that time is the most valuable commodity. A Louisiana man finally decided to cash in hundreds of thousands of pennies that hed been saving for more than half his life, raking in more than $5,000 total, the News-Star reports. This means that on an average day, he had collected around 31 pennies. Otha Anders saved his first penny more than 45 years ago when he found it on the ground. As it turns out, he knew Anders quite well Anders was a longtime, loyal customer who never gave them any problems so immediately knew the manager wanted to help him. Disclaimer: All content is provided for fun and entertainment purposes only. Otha Anders of Louisiana had spent the past 45 years picking up pennies he found in the streets and putting these inside his giant piggy banks made of water jugs. Seventy Five Gallons Updated: 8:46 AM EDT October 28, 2015 . But if we can help Anders with his endeavors, we are happy to do so.. But what was he going to do with his saved money? And as he got older his connection to god only felt stronger for it. That amount was deposited into his account Tuesday to go toward a recent dental bill. Copyright 2012-2023 Social Sweethearts GmbH. . Wow. But opting out of some of these cookies may affect your browsing experience. It escalated from there. This man had saved pennies for 45 years and just picked them up from the street. So he decided it was time to cash in. For anyone who's trying to work it out, that's $114.14 a year, Anders was able to collect by picking up dirty old pennies left forgotten on the side of a street. The final count: 513,614 pennies, which comes to a little over $5,136, Fox 14 reports. Specifically, coins made of precious metals like gold, silver, platinum, palladium, and even copper fluctuate in value over time but generally become more valuable. October 28, 2015 at 10:29 pm EDT. He plans to put the money toward a recent dental bill, but he says he hasnt lost the joy that comes with collecting coins. By. We also use third-party cookies that help us analyze and understand how you use this website. I never allowed anyone, not even my wife nor children, to give me pennies without being compensated, Anders told the site. Powered and implemented by FactSet Digital Solutions. It was by far the most exciting thing that had happened at the bank in a while!The plastic jugs were hacked open by an ax and hammer. Which side of value did they fall under? The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. But why? Your health is important to us. Who would have thought a penny a day could someday bring you $5k! or redistributed. After over 5 hours of counting and processing pennies in a machine at the bank, Anders had a total of$5,136.14 worth of pennies.
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