83,100 penny's deposited

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PetesPockets55
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Re: 83,100 penny's deposited

#11 Unread post by PetesPockets55 » Tue Jan 20, 2015 11:53 pm

My guess is that the fed might be obligated to pick up any extreme excess of money: coins or bills. Certainly hope they don't melt them down for copper!
gotcoins: Here is a challenge: Calculate how many plated cents could be made from these 81,300 copper cents? Any takers?



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Daniel
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Re: 83,100 penny's deposited

#12 Unread post by Daniel » Wed Jan 21, 2015 8:08 am

Yeah, but who contacted the Feds here? Banks get change everyday and I know this is a larger than normal amount, someone still had to call them or report this amount.

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Re: 83,100 penny's deposited

#13 Unread post by mylcoinintx » Thu Jan 22, 2015 3:33 pm

You are right Daniel, someone had to notify the feds for them to get the coins. The bank had already made space for the coins in their vault. They were just waiting for the armored truck to come to pick them up. Someone notified the TV station also, because they had a story on this. Maybe the feds saw the story on TV and then went and picked up the coins. The real question is: why did the feds pick up the coins? I'm sure it has something to do with the fact that they know about the value of old coins and they figured that they had a opportunity to make some cash on the side. It wouldn't surprise me.......

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Re: 83,100 penny's deposited

#14 Unread post by dipper13 » Thu Jan 22, 2015 4:05 pm

Only a moron would run really old pennies into a bank without trying to sell them privately???? I could see a three hundred dollar price easily. My goodness, $80 in pennies is $160 just in copper!!!

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Re: 83,100 penny's deposited

#15 Unread post by mylcoinintx » Mon Jan 26, 2015 11:55 am

Dipper13, you did mean $831 in penny's and $1662 in copper? I would of gladly gave the man twice the price that the bank gave him. And yes, you are right, what person would take a lot of coins to the bank to get only face value, unless he was looking for his 15 minutes of fame by bringing them to a bank and have the TV network televise the event. I remember back when a guy in Houston, Tx wheeled in several wheelbarrows of penny's that he saved up to buy a brand new cadillac. Go figure......

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Re: 83,100 penny's deposited

#16 Unread post by mhonzell » Mon Jan 26, 2015 12:10 pm

I believe the record is in Alabama where a guy turned in 1,308,459 pennies. Saved them for 38 years. Took 7 hours for a machine to count them. That was in 2005.

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Re: 83,100 penny's deposited

#17 Unread post by J.Wilson » Mon May 04, 2015 2:14 am

i am currently going thru my dads pennies hes been hoarding in a glass 5 gallon jar that is slap full probably 300 400 pounds easy 500.00 worth of pennies hes been saving for the last 15 years but I haven't found much yet but I'm not even a tenth of the way thru and my eye is killing me from magnification and still waiting for the big one!

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