Man saved $10,480.13 in pennies over three plus decades

[Champ]

LYNDHURST, Ohio (AP) — If a penny saved is a penny earned, then Eugene Sukie earned $10,480.13 in his three-plus decades of thriftiness.

Over the years, Eugene Sukie, a retired glass plant supervisor, rolled the pennies in wrappers and stored them in 575 cigar boxes organized by year and mint. He had them counted Tuesday _ by a machine, of course.

The pennies, over one million of them and weighing 3½ tons, were trucked from Sukie's home in Barberton to a coins-to-cash machine at a suburban Cleveland supermarket.

Sukie, 78, was worried that he and his wife were getting old and eventually wouldn't be able to get the pennies out of their basement.

http://abclocal.go.com/wpvi/news/111704-bb-pennies.html

[Richardo]

1. Sheesh! He paid at least 7% to use that coin counter ($733+)

Is there no other option? Bank? Something? :eyes:

[amber dog democrat]

3. I had not thought about that.

Even my credit union charges a percentage in dollar ammounts over 15.00

Lets see over 1 million pennies devided by 14.99 = how many daily visits to a change counter ?

[MercutioATC]

7. The Plain Dealer article yesterday explained that.

It was estimated that he'd pay $1000 to use the coin counter, but Coinstar was giving him $1500 to do it (for the publicity).

[Richardo]

8. Well then that's cool - and smart for both of 'em.

[amber dog democrat]

2. This is kinda cool

I have 220. + in quarters and maybe 25.00 in pennies.
I usually cash in when it gets to about 500.00 or more each year.
It becomes a little fund to do something outrageous like buy a canoe or a persian rug with.

But I have been taking pennies out of circulation if they are dated 1983 or earlier.
That was the last year they still were mostly copper.

[Droopy]

4. I save change, too

I have one of those big, plastic Coke bottle banks. When that gets half to three-quarter full I cash it in in. The most I've ever collected was $575 in change.

[CornField]

5. We have the big Pepsi bottle... dubbed the family tax jar

We institute a fine system... a quarter for forgetting household chores; a dollar for forgetting homework; fifty cents for swearing; etc.

We also require 10% of all "income" be given to the family tax jar. So, if one of the kids gets $10 for a birthday, $1 of it goes to the tax jar.

Money from the tax jar is used to fund family vacations, weekend getaways, museum trips, etc. Before we decide to spend the money, all members of the family get to vote.

[Droopy]

10. That's a good idea

I think that will teach your kids the value of money and also prepare them for when they start earning their "real" checks.

[Taverner]

11. Perhaps you should apply the Enron method

Where you take all the money out and give to the person with the most money in their wallet, and then everyone in the room has to give that person a dollar as well, and they are forbidden to spend it on anyone in that room ;)

[matcom]

6. yesterday's news

:)

[Rainbowreflect]

9. My husband I have put all our change in one of those big five

gallon water bottles for years then use it for vacations.
We had only been doing it for about 6 months when we cashed it in the first time. I was hoping for $100 or so for extra spending money on our trip. It was almost $500. It is amazing how fast it adds up.
I will admit I purposely don't pay with change when I buy stuff, but it is an easy way to put a little aside.

[Champ]

12. My grandma did that awhile ago

She gave me an option, a trip to Hawaii or Cardinal Season Tickets(1997) I should've went with the trip. x(

[ProfessorGAC]

13. As I Said Yesterday, Cost Himself >$24k

Do the math, folks? This guy should have about 3.2 times that, if he just dumped the money in a bank at the end of each year. Remember that passbooks were paying 4 to 7 percent through most of the time between 1975 and 1986. It wouldn't mean much now at 0.7%, but he missed out on some serious return.
The Professor