Anders was hesitant to finally hand in his collection, which he refused to do back in the 1970s, when the government was offering a $25 bonus for every $100 worth of pennies turned in, the News-Star notes. Who would have thought a penny a day could someday bring you $5k! 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. This means that on an average day, he had collected around 31 pennies. The same with coins that hold an error. He explained to the outlet the coins hold meaning for him. But his wife couldnt help but question one habit that he had had for the last 45 years. "We value his business, as we do all of our customers," he said. His quirky hobby turned out to be a brilliant reminder of how much little things matter. 2023 BuzzFeed, Inc. All rights reserved. Specifically, coins made of precious metals like gold, silver, platinum, palladium, and even copper fluctuate in value over time but generally become more valuable. All rights reserved. Even though one particular hobby of his raised a few eyebrows. 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. Anders and his friends hauled in the containers one by one. The trolley wheels squeaked as he walked into the bank. He watched over in-school suspended children and absolutely loved his job. 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! The coin reminded him to pray and give thanks. The bank employees looked at Anders rolling his containers in on dollys and stared at him in utter confusion. But why? Although Anders didnt have time on his side, he did have volume. Guess how many pennies were in his 15 5-gallon jugs. This soon became an obsession until he started saving his own pennies for his hobby. But what was he going to do with his saved money? It was a reminder to me to always be thankful," he added. Necessary cookies are absolutely essential for the website to function properly. He says he finally cashed in because his insurance policy won't cover the collection, according to the News-Star. "But I never allowed anyone, not even my wife nor children, to give me pennies without being compensated,"he told the news outlet. 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 told USA Today, "I became convinced that spotting a lost or dropped penny was an additional God-given incentive reminding me to always be thankful. That amount was deposited into his account Tuesday to go toward a recent dental bill. "Jack saved nickels as I saved pennies and every nickel that passed through my hands I would save for him," he said. (MyFoxBoston.com) -- Many people save spare change to cash in during rough financial times. 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. (Fox 14). To Anders, 73, the pennies represent more than a nice pay day. Anders kept his pennies in five-gallon plastic jugs. He cashed in the coins to the Ruston Origin Bank, in Ruston, La. Otha Anders has collected over half a million pennies during the last 45 years. In the early 70s, Ota Anders took up an unusual hobby: he began to collect coins in denominations of only 1 penny. "Jack saved nickels as I saved pennies and every nickel that passed through my hands I would save for him," he said. "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.". 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! Its unclear how much his collection weighed, but using the U.S. Mints estimate of 2.5 grams a coin, it might have been around 2,800 pounds. Could you have the discipline to collect coins for almost 50 years? He started collecting pennies in the early 1970's. He would just find them and save them. Anders saved up an incredible $5,136.14 through collecting pennies for 45 years. Copyright 2021 Obsev.com All Rights Reserved, Man Who Saved Pennies For 45 Years Finally Cashes Out. By clicking Accept All, you consent to the use of ALL the cookies. It was a problem that left him devastated. Who would have thought a penny a day could someday bring you $5k! It would go towards his recent dental bill, he told theNews Star. How would they be able to count all these pennies? So he decided it was time to cash in. Seventy Five Gallons 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. Their eyes popped as they took in the sight of the sheer amount of pennies. Turn on desktop notifications for breaking stories about interest? Share away, people! But when they finally did, the actual amount Anders had saved all these years was incredible! 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! Mutual Fund and ETF data provided by Refinitiv Lipper. Your California Privacy Rights/Privacy Policy. The process of counting took so much time because the coin bag had to be changed every 20 minutes after it would reach$50. Otha Anders, 73, does. Subscribe to our channel: http://bit.ly/FactsVerse Image Credits :Like this content? Anders continued to collect his pennies for 45 years until he successfully filled fifteen five-gallon plastic water jugs.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. News-Star. The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". 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 also started making more and decisions that would give him more pennies. I would break a dollar before giving up a penny.. Anders, 73, reportedly supervises in-school suspended children for the Jackson School Board. How To Determine And Measure Your Ring Size Accurately, Teen Charged With Major Drug Trafficking Has Been Let Off. Are you asamazed by this beautiful story as we were? October 28, 2015 at 10:29 pm EDT. 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. The bank manager was rather surprised to see this old man carting in the water jugs filled with money. "He did likewise with pennies for me.". 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! For 45 years, up until Tuesday, he was the proud owner of a collection containing over half a million of them. Anders saved up an incredible $5,136.14 through collecting pennies for 45 years. The final amount was certainly not small. It wasn't easy to transport these jugs to the bank, especially as the total weight was more than 2,800 pounds. I never allowed anyone, not even my wife nor children, to give me pennies without being compensated, Anders told the site. 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. A Maryland Dumping Site Was Actually A Black Cemetery. "I would break a dollar before giving up a penny.". 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. I would break a dollar before giving up a penny.. Our content is created to the best of our knowledge, yet it is of general nature and cannot in any way substitute an individual consultation by your doctor. I would guesstimate about 400-500,000 pennies?. Anders and his friends hauled in the containers one by one. Otha Anders, a 73-year-old from Ruston, Louisiana, has been collecting pennies for more than 45 years, ABC News reported. Hed been saving pennies he found on the street for 45 long years. He took it as a sign to pray and give thanks. When Anders picked up his very first penny, he had no idea that hed continue picking them up for 45 years. He always made sure that his change had pennies in it. 2023 FOX News Network, LLC. "I would break a dollar before I would spend a penny," he said. But now, he was about to find out. Man cashes in pennies he's been saving for 45 years. 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. Photo credit: United News International / YouTube. "Our exchange became competitive by each trying to outdo the other and consequently our collections; his nickels, my pennies began to multiply," he added. It all just started that one day when he found a penny in the street; he went on to collect more. This man had saved pennies for 45 years and just picked them up from the street. 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. The hobby turned into an obsession that would consume a lot more of his free time than what his wife like. Youtube / Kray K News. 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 reportedly took five hours for machines to count all the change. The machine bags had to be changed for every $50. "We value his business, as we do all of our customers," she said. Wow. The woman stared at him in shock. As the years passed, Anders continued to collect his pennies until he successfully filled fifteen five-gallon plastic water jugs with nothing but pennies. This is a staggering number! 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. Though he reached out to the bank to notify them about the pennies, the bank's senior vice president Ryan Kilpatrick told the outlet he was shocked at the actual number. Quotes displayed in real-time or delayed by at least 15 minutes. 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! It takes four quarters, 10 dimes, 50 nickels, or 100 pennies to equal a dollar. While he may not be able to amass another collection so large, we are sure that the happiness that comes from the act of collecting the coins will only continue to multiply. 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. But now, since Anders homeowner's insurance policy does not cover his collection, he has reluctantly turned them in to Origin Bank. Would have thought a penny, '' she said Drug Trafficking has been Let Off children and absolutely loved job. 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