Wow...that's a lot of pennies!!!!!!

[kryptonitecomics]

I apologize if this is already been posted, but I just came across this article about a man depositing $14,000 dollars worth of pennies in a coin star or similar machine.................

 

 

 

Man makes $14,000 deposit — in pennies

 

 

 

After reading about it I wonder how many were uncirculated or if he had any wheat pennies he threw in the machine.........

[Bruceswar]

wow.... just think of all the wheaties and prolly some 1955 DD and 1909 S VDB 1914 D..... etc... Oh what fun !!

[topsman]

"One grocery store worker says it was an unbelievable sight, with hundreds of cardboard boxes and thousands of penny rolls, each organized by year."

 

I don't understand why he would use the coin star and lose almost $1000 in machine fees when he could deposit them in the bank. The point of coin star is for lazy people who don't have time to roll them.

[gmarguli]

"One grocery store worker says it was an unbelievable sight, with hundreds of cardboard boxes and thousands of penny rolls, each organized by year."

 

I don't understand why he would use the coin star and lose almost $1000 in machine fees when he could deposit them in the bank. The point of coin star is for lazy people who don't have time to roll them.

 

Wamu bank charges 10c per roll for coins, which for pennies it is cheaper to dump them in a Coin Star than Wamu. I believe that several other banks also charge to accept rolls of coins.

[topsman]

The math on this is just boggeling my mind.

 

1st:

 

14,000,000 pennies, weighs a lot! 48 Tons to be exact.

 

1 penny = 3.11 grams = .006856 pounds

 

14,000,000 pennies = 43,540,000 grams = 95,900 pounds (47.99 tons).

 

2nd:

 

Talk about an all nighter, and then some.

 

I really have no idea on how fast those machines can sort change and count it, but I couldn't imagine it being even close to 100 coins per second, however, I'll be fair and the result is still amazing, plus 100 is a nice even number.

 

100coins/second = 6,000coins/minute = 360,000coins/hour

 

14,000,000coins / 360,000per hour = 38.88 hours.

 

 

 

Now unless I really misplaced the decimal point, this is just blowing my f _ _ _ing mind away.

[Hoot]

Great math topsman!

 

BTW, the reason he used the Coinstar machines is that banks were turning him away.

 

Hoot

[kryptonitecomics]

I thought the article said 1.4 million pennies, not 14 million???

[Bruceswar]

it is 1.4 million pennies

[TomB]

Were there any cents in the hoard?

[kryptonitecomics]

[Hoot]

Were there any cents in the hoard?

 

The whole thing was centsless. Makes no cents. I wish someone would have stopped him and shook some cents into him. Probably nobody had the incentive. I'm pretty sure the Coinstar owner cent him straight home to burn some incents. Was this incentsitive of me? Centillating.

 

Hoot

[topsman]

I'm a person_having_a_hard_time_understanding_my_point. All that converting, and math, and I didn't even start with the right number of cents. No wonder why my answers didn't make sense at first.

 

Ok, but that is still almost 10,000 pounds of pennies, and almost 4 hours of constant shoveling.

 

Furthermore, I think it's a conspiracy that some bank refuse the acceptance of rolled coins. It's money for crying outloud. They already control all the money and make a nice profit off letting us have it, so why not charge us more fees when we want to return the money they gave us back into them.

 

Let's see I needed some extra cash this month so the bank loaned me $1,000 in quarters (just as an example). Well it's not free to borrow money so I'll end up paying what... maybe 10% interest.... my $1,000 now is actually only $900. Alright now it's time to pay the bank back at the end of the month I take my rolled change up the counter and they say "Sorry we don't accept American currency in the form of change, even though we give out change as american currency. Your gonna have to coinstar that." So you dump it into the machine and your $1,000 in change is now only worth $920 , after the 8% fee. So $1,000 (less the $100, and $80), you have given the bank $180 of your money. Kinda shytting thought ain't it.

 

Ok... BAD EXAMPLE! I'm just tired and can't stop hitting keys tonite. I just don't understand if a $1 bill is worth 4 quarters, how come 4 quarters then is only worth 92 cents?