Then, one day, he decided to turn in the loose change. It eventually became so much of a hobby that he would deliberately avoid ever spending pennies. It was a problem that left him devastated. 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! Man saves coins for 45 years, cashes in over $5,000 in pennies. "After collecting the copper for decades, Anders deposited his haul on Tuesday to pay for some recent dental work. We value his business, as we do all of our customers, Cole said. Which side of value did they fall under? It wasn't easy to transport these jugs to the bank, especially as the total weight was more than 2,800 pounds. 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. Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. He started collecting pennies in the early 1970s. The woman behind the counter looked at him in disbelief. 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., Black News and Black Views with a Whole Lotta Attitude. That first penny, he told the Star, reminded him that life is a gift from God. Get all the stories you need-to-know from the most powerful name in news delivered first thing every morning to your inbox. Their worth is even less still if the government issuing the coins no longer exists.But what about Anders coins? He never knew just how much money he would make. Anders says he plans to use the cash to help pay a dental bill. It all just started that one day when he found a penny in the street; he went on to collect more. Man cashes in pennies he's been saving for 45 years. But now, since Anders homeowner's insurance policy does not cover his collection, he has reluctantly turned them in to Origin Bank. It took at least 5 hours to process his pennies through a coin-counting machine until the sum was revealed. Necessary cookies are absolutely essential for the website to function properly. Not many people think too much of a penny it is just one cent. Anders sat next to the machine watching his collection go down the counter and the bank workers come in to the change the coin bag every 20 minutes, since the coin machine bags need to be changed after every $50. Shop sales in every category.Uh-oh, overstock: Wayfair put their surplus on sale for up to 50% off. "I became convinced that. 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. Im not sure exactly, Anders said. Mutual Fund and ETF data provided by Refinitiv Lipper. But why? When he finally took his collection over to the bank, tellers were staggered by the amount he had saved. All of his friends and family got so used to him behaving this way around pennys that they didn't even see it as odd anymore. "Our exchange became competitive by each trying to outdo the other and consequently our collections; his nickels, my pennies began to multiply," he added. Their eyes popped as they took in the sight of the sheer amount of pennies. Although Anders collection contains mostly modern pennies, its crazy to think that if he held onto those coins long enough, theyd soon bring him a fortune as big as a million dollars! And after acquiring over a half million of these coins, he finally cashed them in on Tuesday at Origin Bank. Have you ever felt bogged down by the change in your wallet that feels like extra weight that you'll never get rid of? It is said that the world works in mysterious ways, and for Otha Anders and the result of his penny collection, that motto is certainly true ! Believe me, if I had it my way, Id keep these pennies forever. 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. Copyright 2012-2023 Social Sweethearts GmbH. 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. By. — -- Otha Anders is a true believer in the phrase a pretty penny. For 45 years, up until Tuesday, he was the proud owner of a collection containing over half a million of them. But as he speculated, he remembered reading about a coin collection that resulted in a fortune for the owner. Photo credit: United News International / YouTube. How many?, the woman asked. He approached the questionable expression behind the desk and asked them to cash his pennies in. At the end of the labor intensive counting, the bank informed Otha he had saved a total of $5,136.14 all those 45 years! If Anders had it his way, he would have kept his collection and continued to pick up pennies for many years to come but life would throw him a curveball. In the end, Anders was always fair about how he came across his pretty pennies. "I would break a dollar before I would spend a penny," he said. AREVIK 25.12.2022 1.1k. It was actually his religion that started the penny collecting. 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 said Brown could only redeem his nickels with pennies and he could redeem his pennies only with nickels. 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. The plastic jugs were hacked open by an ax and hammer. -- A Louisiana man recently cashed in hundreds of thousands of saved pennies, rollingthem to the bank on a dolly after collecting them for more than four decades.According to the Louisiana News Star, Otha Anders, 73, started collecting pennies 45 years ago when he spotted one on the ground. What began as something fun turned into a full-blown obsession and an all-consuming hobby. Any penny he receives as change or anything he finds in his walks, he puts inside the 5-gallon water jugs. It squeaked and squawked as the wheels turned in pursuit. 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. But when they finally did, the amount Anders had saved all these years was incredible! Its shocking, for sure, he told ABC News. It all just started that one day when he found a penny in the street; he went on to collect more. But after collecting the one cent pieces for 45 years, you could have amassed a fortune! Guess how many pennies were in his 15 5-gallon jugs. ", | Special to The (Monroe, La.) 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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. I never failed to do that. But Anders says that he would never accept a penny from anyone, even his family, without giving them something in return. Anders new home insurance didnt cover his penny collection, so he reluctantly decided it was time to visit the bank and cash in his most prized possession. Legal Statement. The final amount was certainly not small. (Fox 14). This meant that he soon had more pennies than he knew what to do with. But what was he going to do with his saved money? By clicking Accept All, you consent to the use of ALL the cookies. I would never spend a penny, he told the News-Star. Not many people think too much of a penny - it is just one cent. Little did he know, just how many gifts he was going to receive. Quotes displayed in real-time or delayed by at least 15 minutes. You also have the option to opt-out of these cookies. "He did likewise with pennies for me." Anders didnt know that after he picked up his first penny, more would keep appearing through his love. The bank employees looked at Anders rolling his containers in on dollys and stared at him in utter confusion. The coin reminded him to pray and give thanks. He also started making more and decisions that would give him more pennies. Who would have thought a penny a day could someday bring you $5k! into his account to go toward a recent dental bill. "I would never spend a penny," he told the Star. And as he got older his connection to god only felt stronger for 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." Your California Privacy Rights/Privacy Policy. Anders, 73, reportedly supervises in-school suspended children for the Jackson School Board. Subscribe here:https://www.youtube.com/factsverse?sub_confirmation=1. Anders collected pennies, not as a sign of greed but as a symbol of faith that he was being looked after by the man upstairs, the universe, the penny gods, or whatever you might believe in! It has long been said that time is the most valuable commodity. In total, then, Anders had collected 513,614 pennies in 45 years, or 16,425 days. The cookie is used to store the user consent for the cookies in the category "Other. What if you collected pennies as a hobby? An error in the coin made it extremely valuable, and its value could only keep growing over time. Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features. When the 77 year old man from Louisiana was asked what motivated him, he said that finding a penny on the ground was akin to a sign from God, reminding him that he should always be thankful. "I would break a dollar before giving up a penny.". This material may not be published, broadcast, rewritten, or redistributed. I became convinced that spotting a lost or dropped penny was an additional God-given incentive reminding me to always be thankful, Anders said. Specifically, coins made of precious metals like gold, silver, platinum, palladium, and even copper fluctuate in value over time but generally become more valuable. Anders said, I would never spend a penny, I would break a dollar before giving up a penny. When the children he looked after figured out how important pennies were to him, they wanted to contribute. If Anders had it his way, he would have kept his collection and continued to pick up pennies for many years to come but life would throw him a curveball. The 73-year-old's homeowner's insurance didn't cover his collection, he told ABC News, that although he long ago surpassed his goal of filling five 5-gallon water jugs with coins, he found himself unable to stop collecting. Youtube / Kray K NewsAnders saved up an incredible $5,136.14 through collecting pennies for 45 years.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. "But I never allowed anyone, not even my wife nor children, to give me pennies without being compensated," he said. That amount was deposited into his account Tuesday to go toward a recent dental bill. But opting out of some of these cookies may affect your browsing experience. Anders saved up an incredible $5,136.14 through collecting pennies for 45 years. If I would see a penny when Im gassing up, on the ground, or in a store, it would be a reminder to stop right there and say a prayer, he said. They seem somewhat worthless, save for the moments when we find pennies on the ground that promise us a day filled with luck. It seems like Anders' steady patience and consistent well-wishing has paid off for him. Back in 2015, he had to finally cash them in because his homeowner's insurance policy no longer covered his pennies, and he needed some extra cash. -- A Louisiana man recently cashed in hundreds of thousands of saved pennies, rolling them to the bank on a dolly after collecting them for more than four decades. "I have not spent a penny in 40-plus years. When he finally took his collection over to the bank, tellers were staggered by the amount he had saved. https://www.youtube.com/watch?v=Orav4IyjgtE. If I was at someones house and I found a penny, I would pick it up and I would keep it, he said. This cookie is set by GDPR Cookie Consent plugin. However, Anders always made sure that every penny that came his way from others was compensated properly. This material may not be published, broadcast, rewritten, or redistributed. But what was he going to do with his saved money? The manager of Ed's. The coin reminded him to pray and give thanks. La. He says he finally cashed in because his insurance policy won't cover the collection, according to the News-Star. Thats why they had so much value to me., If his homeowners insurance policy hadnt stopped covering the pennies, Anders says there wouldve been no turning back. 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 wasnt even a little tempted to take the extra cash. "He did likewise with pennies for me.". Their eyes popped as they took in the sight of the sheer amount of pennies. "There have been days where I failed to pray and more often than not, a lost or dropped penny would show up to remind me.". A lost or dropped penny was an additional God-given incentive reminding me to always be thankful, said! Tuesday, he told the Star much of a penny in the street he! 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