Penny-hoarder cashes in half-a-million pennies he collected over 40 years

From MarketWatch:

Ben Franklin would be so proud.

A Louisiana man has reportedly cashed in more than half a million pennies he saved over the past 40 years.

Ortha Anders, a resident of Ruston, Louisiana, started collecting in the 1970s, according to a report from TV station KNOE.

Anders eventually filled 15 five-gallon water bottles with the coins, which weighed 2,830 pounds, or nearly one-and-a-half tons.

Anders didn’t actually want to deposit the coins in the bank, but said his insurance would no longer cover them. In addition he needs the money to pay a medical bill, according to the report.

Anders told the station that whenever he saw a penny “it was a reminder to me to be thankful.”

The sum total of his 40 years of penny saving came to $5,136.14, or roughly 35 pennies per day.

In recent years rising commodity prices have pushed the cost of producing a penny well above its face value. The coins are mostly made of zinc, with a small amount of copper.

President Obama called for consideration of “alternative options for the penny and nickel” in his budget proposal for 2015, amid reports the government lost $105 million minting the coins in 2013….

Click here to read the full story…

Image from Ruston Daily Leader on Facebook (http://rustonleader.com/node/64499)

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