How long has Otha Anders been saving his pennies? Im not sure exactly, Anders said. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. We value his business, as we do all of our customers, Cole said. You also have the option to opt-out of these cookies. "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." Anders' coin collecting habit started when he found a penny on the street decades ago. Have you ever felt bogged down by the change in your wallet that feels like extra weight that you'll never get rid of? They seem somewhat worthless, save for the moments when we find pennies on the ground that promise us a day filled with luck. Louisiana man cashes in penny collection to the tune of $5,000. Anders, 73-years-old at the time, said that it quickly became an incentive to pray and give thanks very often. He also stopped spending pennies on purchases, preferring instead to put them in emptywater jugs, the Star reports. His quirky hobby turned out to be a brilliant reminder of how much little things matter. To Anders, 73, the pennies represent more than a nice pay day. Anders said, I would never spend a penny, I would break a dollar before giving up a penny. When the children he looked after figured out how important pennies were to him, they wanted to contribute. A few people have the profitable habit of collecting coins over a long period of time and cashing them in for good money at the end. That led to a huge collection, stored in 15 five-gallon, plastic water jugs, adding up to about half a million pennies, which ultimately converted to $5,136.14. He had no idea, but clearly, this would result in a fortune. 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. And after acquiring over a half million of these coins, he finally cashed them in on Tuesday at Origin Bank. . 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. Anders and his friends hauled in the containers one by one. He was a man on a mission, and when his students at school found out about his strange fascination, they wanted to help.Theyd often come to his class with a handful of pennies to give to him but Anders had principles. It eventually became so much of a hobby that he would deliberately avoid ever spending pennies. Believe me, if I had it my way, Id keep these pennies forever.The woman gave Anders a long look before calling her manager. "I would never spend a penny," Anders said. This meant that he soon had more pennies than he knew what to do with. For Anders, the process of collecting the coins meant more than the money he would make. This cookie is set by GDPR Cookie Consent plugin. It all just started that one day when he found a penny in the street; he went on to collect more. But why? The cookies is used to store the user consent for the cookies in the category "Necessary". I know its a crazy amount but this is a dear collection of mine that I need to cash out. 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., Black News and Black Views with a Whole Lotta Attitude. And as he got older his connection to god only felt stronger for it. 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. 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. These cookies ensure basic functionalities and security features of the website, anonymously. You've successfully subscribed to this newsletter! But why? Guess how many pennies were in his 15 5-gallon jugs. In all, Anders had collected enough pennies to earn him over $5,000! I never allowed anyone, not even my wife nor children, to give me pennies without being compensated. And that he did, he paid them for the pennies they gave him. 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. Anders and his friends hauled in the containers one by one. However, since his homeowners insurance policy didnt cover the extensive collection, he finally decided to cash in. The trolley wheels squeaked as he walked into the bank. He explained to the outlet the coins hold meaning for him. How many were in there? He cashed in the coins to the Ruston Origin Bank, in Ruston, La. Anders said he started collecting the coins in the late-1960s. Otha Anders cashed in his giant penny collection. 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. 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. The final count: 513,614 pennies, which comes to a little over $5,136, Fox 14 reports. 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. As it was, the $5,136 worth of pennies took five hours for Origin Bank in Ruston, Louisiana, to count and process. 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. He said Brown could only redeem his nickels with pennies and he could redeem his pennies only with nickels. 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. Most of us eventually find a way to incorporate our nickels and quarters into our shopping sprees but pennies? You have to find 100 of them to get a dollar it is a lot of work. Its shocking, for sure, he told ABC News. It may inspire them to start a collection of their own. How many?, the woman asked. It seems like Anders steady patience and consistent well-wishing has paid off for him. Share away, people! He had saved pennies for most of his life a whole 45 years. 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. This man had saved pennies for 45 years and just picked them up from the street. In the 1970s, when the government was offeringa $25 bonus for every $100 worth of pennies turned in, he still refused to cash in his collection, as per USA Today. He started collecting pennies in the early 1970's. He would just find them and save them. However, Anders always made sure that every penny that came his way from others was compensated properly. Otha Ander was a supervisor on the Jackson School Board and was passionate about his job. Anders worried they would turn him away. Anders also added that his friend,Jack "Domino Kid" Brown, played a significant part in his penny collection. After that first coin, Anders said his penny pile began to grow and he ultimately stopped spending pennies and always made sure whenever he made a purchase, his change contained at least three to four pennies. That was the goal, but I couldnt stop. "But if we can help Anders with his endeavors, we are happy to do so.". Who would have thought a penny a day could someday bring you $5k! By. 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. If I was at someones house and I found a penny, I would pick it up and I would keep it, he said. 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! "I wanted the inner satisfaction that God and I acquired this collection.". 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. (Fox 14). We may earn a commission from links on this page. The manager of Ed's. 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. Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors. That amount was deposited into his account Tuesday to go toward a recent dental bill. And you think we have the time to count half a million pennies for you? she laughed. You have to find 100 of them to get a dollar - it is a lot of work. And they werent the only establishment to do so. Their worth is even less still if the government issuing the coins no longer exists. The coin reminded him to pray and give thanks. Part of HuffPost News. Coins made of base metals, such as aluminum, have very little worth. He always made sure that his change had pennies in it. Cole said a machine counted the coins that saves much time, and Origin Bank's part is to help get the pennies counted, so Anders can get to his destination. Every penny he had, he kept. And with hundreds of thousands of coins, perhaps one had a valuable error. I would never spend a penny, he told the News-Star. 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. All eyes were on the man pulling the trolley behind him. Anders was able to put his money to good use and spend it on a dental bill that had just been issued to him.It was a happy coincidence that he found himself with more money just as an expensive bill landed in his lap. Could you have the discipline to collect coins for almost 50 years? The process of counting took so much time because the coin bag had to be changed every 20 minutes after it would reach$50. Who would have thought a penny a day could someday bring you $5k! into his account to go toward a recent dental bill. Powered and implemented by FactSet Digital Solutions. 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. A Louisiana man who collected pennies for more than 45 years has now cashed in 513,614 of them. So he decided it was time to cash in. He explained, I wanted the inner satisfaction that God and I acquired this collection., If I was at someones house and I found a penny, I would pick it up and I would keep it, 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. Thats especially true when it comes to coins but only certain kinds of coins. It would go towards his recent dental bill, he told theNews Star. What began as something fun turned into a full-blown obsession and an all-consuming hobby. RUSTON, La. . The woman gave Anders a long look before calling her manager. 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. Otha Anders of Louisiana had spent the past 45 years picking up pennies he found in the streets and putting these inside his giant piggy banks made of water jugs. 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! 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. "We value his business, as we do all of our customers," he said. "I would never spend a penny," he said. I never failed to do that. 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. And they werent the only establishment to do so. He says he finally cashed in because his insurance policy won't cover the collection, according to the News-Star. Quotes displayed in real-time or delayed by at least 15 minutes. Then all day long, you'll have good luck." And his "luck" came in the shape of a cool five grand. Mutual Fund and ETF data provided by Refinitiv Lipper. It took the bank over 5 hours to count the money and thats through a machine! Total Savings. Mutual Fund and ETF data provided by Refinitiv Lipper. Otha Anders started collecting pennies because he became "convinced that spotting a lost or dropped penny was an . Their eyes popped as they took in the sight of the sheer amount of pennies. "I would break a dollar before giving up a penny. 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Market data provided by Factset. Anders saved up an incredible $5,136.14 through collecting pennies for 45 years. It was a problem that left him devastated. 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. "I would never spend a penny," he told the Star. The cookie is used to store the user consent for the cookies in the category "Other. Anders took his haul to the Ruston Origin Bank. While he only deposited them when he found. 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. Turn on desktop notifications for breaking stories about interest? This cookie is set by GDPR Cookie Consent plugin. "We value his business, as we do all of our customers," she said. I would break a dollar before giving up a penny.. Legal Statement. Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. It was actually his religion that started the penny collecting. 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. October 28, 2015 at 10:29 pm EDT. 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. Any penny he receives as change or anything he finds in his walks, he puts inside the 5-gallon water jugs. Anders continued to collect his pennies for 45 years until he successfully filled fifteen five-gallon plastic water jugs. 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. All of the kids love him and he was happy to look after them. (MyFoxBoston.com) -- Many people save spare change to cash in during rough financial times. Anders says he plans to use the cash to help pay a dental bill. Having collected pennies since the late 1960s, the 73-year-old from Louisiana finally deposited the savings in his bank to pay for a dental bill. "I will always tell the person that if it was a quarter, I would give it back, but since it is a penny, I'm keeping it. He probably would have kept his obsession up if he hadnt figured out some when he had to renew his home affairs. Over a few years, a random collection of coins can amount to a fancy night out or give you the exact amount to buya beautiful outfit. And with hundreds of thousands of coins, perhaps one had a valuable error. 2023 BuzzFeed, Inc. All rights reserved. Updated: 8:46 AM EDT October 28, 2015 . But as he speculated, he remembered reading about a coin collection that resulted in a fortune for the owner. I would guesstimate about half a million pennies?. "We value his business, as we do all of our customers," she said. This means that on an average day, he had collected around 31 pennies. But when they finally did, the actual amount Anders had saved all these years was incredible! -- 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. 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. It wasn't easy to transport these jugs to the bank, especially as the total weight was more than 2,800 pounds. He approached the questionable expression behind the desk and asked them to cash his pennies in. 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. 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 woman stared at him in shock. "Our exchange became competitive by each trying to outdo the other and consequently our collections; his nickels, my pennies began to multiply," he said. Otha Anders, 73, does. The hobby turned into an obsession that would consume a lot more of his free time than what his wife like. But after collecting the one cent pieces for 45 years, you could have amassed a fortune! Even my wife nor children, to give you the most relevant experience by remembering your preferences and repeat.... Werent the only establishment to do so. `` a coin-counting machine until the sum was revealed the owner years. 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