into his account to go toward a recent dental bill. "After collecting the copper for decades, Anders deposited his haul on Tuesday to pay for some recent dental work. What if you collected pennies as a hobby? Change for the better: Man cashes in 45-year penny collection worth $5,000. 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. We may earn a commission from links on this page. I know its a crazy amount but this is a dear collection of mine that I need to cash out. 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. Get all the stories you need-to-know from the most powerful name in news delivered first thing every morning to your inbox. It took five hours to count the pennies; the plastic jugs were hacked open and then the coins were poured into the coin machine bit by bit. His quirky hobby turned out to be a brilliant reminder of how much little things matter. You have to find 100 of them to get a dollar it is a lot of work. How To Determine And Measure Your Ring Size Accurately, Teen Charged With Major Drug Trafficking Has Been Let Off. Photo credit: United News International / YouTube. I would never spend a penny, he told the News-Star. The total came out to a whopping $5,136. He started collecting pennies in the early 1970s. They were much heavier than youd think, and not to mention, there were fifteen of them! 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. 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. As the years passed, Anders continued to collect his pennies until he successfully filled fifteen five-gallon plastic water jugs with nothing but pennies. Recently, he needed some money and thought that he did have some money stashed in his house; although he wasnt sure how much he actually had. 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. This website uses cookies to improve your experience while you navigate through the website. Cole said the bank will then send the pennies off to the FDIC, and the bank will receive their credit for them. RUSTON, La. 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. 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. 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! He explained to the outlet the coins hold meaning for him. Otha Anders cashed in his giant penny collection. "I would break a dollar before giving up a penny.". We could only imagine how many weeks they would have spent on Othas collection if there was no machine to help them count. And the kids seemed to love him too.Anders was a family man with a loving wife and children who supported his every move. Anders sheepishly laughed with her before pleading to her again. Specifically, coins made of precious metals like gold, silver, platinum, palladium, and even copper fluctuate in value over time but generally become more valuable. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. 2023 BuzzFeed, Inc. All rights reserved. It was a problem that left him devastated. "But if we can help Anders with his endeavors, we are happy to do so.". La. Although Anders didnt have time on his side, he did have volume. Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. Man saves coins for 45 years, cashes in over $5,000 in pennies. Even opening the jugs wasn't a simple task -- they were hacked open with an axe. "I became convinced that spotting a lost or dropped. He approached the questionable expression behind the desk and asked them to cash his pennies in. "Our exchange became competitive by each trying to outdo the other and consequently our collections; his nickels, my pennies began to multiply," he said. However, since his homeowners insurance policy didnt cover the extensive collection, he finally decided to cash in. Copyright 2021 Obsev.com All Rights Reserved, Man Who Saved Pennies For 45 Years Finally Cashes Out. 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. "We value his business, as we do all of our customers," he said. Uh-oh, overstock: Wayfair put their surplus on sale for up to 50% off. When he finally took his collection over to the bank, tellers were staggered by the amount he had saved. "I would break a dollar before giving up a penny". Anders' coin collecting habit started when he found a penny on the street decades ago. Not many people think too much of a penny it is just one cent. But what was he going to do with his saved money? It may inspire them to start a collection of their own. Your health is important to us. "I became convinced that spotting a lost or dropped penny was an additional God-given incentive reminding me to always be thankful," said Anders. The pennies were then poured into the coin machine with small plastic buckets. Anders is a beautiful example of how all of us can learn to be thankful for the small things. In the early 70s, Ota Anders took up an unusual hobby: he began to collect coins in denominations of only 1 penny. It would go towards his recent dental bill, he told theNews Star. Photo credit: United News International / YouTube. 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. "We value his business, as we do all of our customers," she said. Anders worried they would turn him away. 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. By. News-Star. To Anders, 73, the pennies represent more than a nice pay day. Total Savings. Thats especially true when it comes to coins - but - only certain kinds of coins. All of us have random coins lying around thatdon't amount to much and cannot always be used to pay for something when we are out shopping. For over 45 years, Anders hadbeen collecting pennies, storingthem in 5-gallon water jugs. Guess how many pennies were in his 15 5-gallon jugs. (MyFoxBoston.com) -- Many people save spare change to cash in during rough financial times. Their eyes popped as they took in the sight of the sheer amount of pennies. Quotes displayed in real-time or delayed by at least 15 minutes. Cool, isnt it? According to the . 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. This material may not be published, broadcast, rewritten, Legal Statement. The machine bags had to be changed for every $50. 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. Otha Anders, a 73-year-old from Ruston, Louisiana, has been collecting pennies for more than 45 years, ABC News reported. Otha Anders from Ruston, Louisiana, knows that by being patient and collecting over a long period of time, pennies can amount to a significant paydaythat is sure to surprise anyone. This man had saved pennies for 45 years and just picked them up from the street. than 45 years ago when he found it on the ground. All rights reserved. — -- 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. Not many people think too much of a penny - it is just one cent. The same with coins that hold an error. But what about Anders coins? -- 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. "Jack saved nickels as I saved pennies and every nickel that passed through my hands I would save for him," he said. The 73-year-old has some modest plans to spend his money. "I wanted the inner satisfaction that God and I acquired this collection.". Im not sure exactly, Anders said. It seems like Anders steady patience and consistent well-wishing has paid off for him. But when they finally did, the actual amount Anders had saved all these years was incredible! 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. "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.". 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. Ultimately, Anders went out of his way to stop spending pennies and made sure that after every purchase, his change contained at least 3 to 4 pennies. "I would never spend a penny," he said. "But if we can help Anders with his endeavors, we are happy to do so.". He also started making more and decisions that would give him more pennies. Anders wasa supervisor for in-school suspended children for the Jackson School Board in Louisiana, and when his students found out about his habit of collecting pennies, they would save up their money to sell to him. He would have continued to keep them and collect more if it wasnt for one problem that he encountered when he renewed his home affairs. He had no idea, but clearly, this would result in a fortune. Necessary cookies are absolutely essential for the website to function properly. Legal Statement. 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. ", | Special to The (Monroe, La.) But now, since Anders homeowner's insurance policy does not cover his collection, he has reluctantly turned them in to Origin Bank. Then he took his jugs to a bank in Ruston, Louisiana to cash them in. Any penny he receives as change or anything he finds in his walks, he puts inside the 5-gallon water jugs. So he decided it was time to cash in. But why? This cookie is set by GDPR Cookie Consent plugin. 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. It all just started that one day when he found a penny in the street; he went on to collect more. Anders said he would be truly remiss if he did not acknowledge his friend, Jack 'Domino Kid' Brown, for helping him with his penny collection. He took it as a sign to pray and give thanks. His quirky hobby turned out to be a brilliant reminder of how much little things matter. 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. That is a lot of pennies. But once his penny pile began to grow, he became more and more obsessed.So compelling was his idea that penny's represented a god-given gift that he ultimately decided to stop spending pennies himself. 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. Your California Privacy Rights/Privacy Policy. Otha Anders had been collecting pennies for more than 4 decades and had always put his faith in them as he was a religious man. 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. It wasn't easy to transport these jugs to the bank, especially as the total weight was more than 2,800 pounds. Have you ever felt bogged down by the change in your wallet that feels like extra weight that you'll never get rid of? "But if we can help Anders with his endeavors, we are happy to do so.". So, he paid them for pennies? I would break a dollar before giving up a penny.. "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." But now, he was about to find out. The bank employees looked at Anders rolling his containers in on dollys and stared at him in utter confusion. "Whenever I would see a penny, I would always say a prayer of thanks. This meant that he soon had more pennies than he knew what to do with. Otha Anders watches as part of his 45-year-old penny collection is poured into Origin Bank's coin counting machine. (Fox 14) A Louisiana man who collected pennies for almost half a . Anders and his friends hauled in the containers one by one. Otha Anders started collecting pennies in the late 1960s. Coins made of base metals, such as aluminum, have very little worth. It was by far the most exciting thing that had happened at the bank in a while! By clicking Accept All, you consent to the use of ALL the cookies. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. "I never allowed anyone, not even my wife nor children, to give me pennies without being compensated," he said. But what was he going to do with his saved money? "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.". 24/7 coverage of breaking news and live events. He was reluctant to give his years of work away, but Anders also said that he has not lost the joy that comes from collecting coins. 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. The coin reminded him to pray and give thanks. Seventy Five Gallons "But I never allowed anyone, not even my wife nor children, to give me pennies without being compensated," he said. How would they be able to count all these pennies? NEW YORK DAILY . The cookie is used to store the user consent for the cookies in the category "Performance". The woman behind the counter looked at him in disbelief. In all, Anders had collected enough pennies to earn him over $5,000! All rights reserved. The trolley wheels squeaked as he walked into the bank. This is a staggering number! 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. The man who collected coins for 45 years took it to the bank with a truck and counted how much money he managed to collect during this time. I would say hes done a lot of collecting over the years.. Otha Anders had been collecting pennies for more than 4 decades and had always put his faith in them as he was a religious man. But if we can help Anders with his endeavors, we are happy to do so.. Otha Anders cashed in his giant penny collection. Anders sheepishly laughed with her before pleading with her again. He watched over in-school suspended children and absolutely loved his job. Updated: 8:46 AM EDT October 28, 2015 . Breanna Edwards. And after acquiring over a half million of these coins, he finally cashed them in on Tuesday at Origin Bank. Anders saved up an incredible $5,136.14 through collecting pennies for 45 years.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. This material may not be published, broadcast, rewritten, or redistributed. He said Brown could only redeem his nickels with pennies and he could redeem his pennies only with nickels. Subscribe to our channel: http://bit.ly/FactsVerse Image Credits :Like this content? Most of us eventually find a way to incorporate our nickels and quarters into our shopping sprees but pennies? "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 extra bonus of income came just in time for him to pay a medical bill.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! The plastic jugs were hacked open by an ax and hammer. The final amount was certainly not small. "I wanted the inner satisfaction that God and I acquired this collection.". 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.". October 29, 2015 By Coin Update 13 Comments. The bank manager was rather surprised to see this old man carting in the water jugs filled with money. 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. Believe me, if I had it my way, Id keep these pennies forever.The woman gave Anders a long look before calling her manager. Do Not Sell or Share My Personal Information. . 73-year-old Otha Anders worked as a supervisor on the Jackson School Board. And as he got older his connection to god only felt stronger for it. While he was working as a supervisor for in-school suspended children for the Jackson School Board, students found out about Anders quirk and began to save pennies to sell to him. He would just find them and save them. Otha Anders started more than 45 years ago when he found a penny on the ground and decided to save it. Since Anders could have collected a small fortune, he made it a point to have his collection covered under his house insurance, but when he renewed it, they turned him away. You have to find 100 of them to get a dollar - it is a lot of work. If I hadnt turned them in yesterday, I was not going to stop.. I became convinced that spotting a lost or dropped penny was an additional God-given incentive reminding me to always be thankful, 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. Anders said. 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. An error in the coin made it extremely valuable, and its value could only keep growing over time. He cashed in the coins to the Ruston Origin Bank, in Ruston, La. Employees gathered to see the first five-gallon container being counted. The final count: 513,614 pennies, which comes to a little over $5,136, Fox 14 reports. 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. 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. And as he got older his connection to god only felt stronger for it. 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. After 45 years of saving, Anders was able to put the money to good use and spend it on a dental bill that had just been issued to him. The cookies is used to store the user consent for the cookies in the category "Necessary". Once the first penny was saved, there was no stopping Anders from growing his collection to become the record-breaker that it was in 2015. He probably would have kept his obsession up if he hadnt figured out some when he had to renew his home affairs. It eventually became so much of a hobby that he would deliberately avoid ever spending pennies. "I would break a dollar before I would spend a penny," he said. 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. This just goes to show that the special meaning he had created with his pennies served him through his life, andstrengthening his relationship with God through this collection was worth more than the money he'd make. Employees gathered to see the first five-gallon container being counted. Otha Anders started collecting pennies because he became "convinced that spotting a lost or dropped penny was an . When Anders picked up his very first penny, he had no idea that hed continue picking them up for 45 years. Copyright 2021 Obsev.com All Rights Reserved, Man Who Saved Pennies For 45 Years Cashes Out. "Jack saved nickels as I saved pennies and every nickel that passed through my hands I would save for him," he said. Who would have thought a penny a day could someday bring you $5k! He also stopped spending pennies on purchases, preferring instead to put them in emptywater jugs, the Star reports. A Louisiana man who collected pennies for almost half a century finally cashed in Tuesday. Determine and Measure your Ring Size Accurately, Teen Charged with Major Drug Trafficking has Been Let off to. Any penny he receives as change or anything he finds in his 5-gallon. Never allowed anyone, not even my wife nor children, to give you the most powerful name news! Go toward a recent dental work up an unusual hobby: he began to collect coins in denominations of 1... When Anders picked up his very first penny, he told the.! Saved all these pennies he explained to the bank, tellers were staggered by the change in your that... 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