Man Saves Pennies for 45 Years to Finally Cash Out

How many times do you get change from $1.00 and leave it or put it in a pile only to forget about it? Most people dislike having change because it’s heavy and clunky, preferring to spend dollars or use credit/debit cards. If that sounds like you, it might be time to rethink your idea of money.

Though a few pennies don’t make a big difference, one man saved up for 45 years and cashed out to make a killing. It’s time to hear his story and the benefits of saving whatever change or money you can. Keep reading to find out how much cash he got!

Walking into a Bank

One man walked into a bank, rolling a big dolly behind him. As it squeaked and squealed, everyone stared at him. Still, he kept walking and finally came up to the teller’s counter with a smile on his face.

Utter Disbelief

The teller looked in disbelief, asking how many there were. This man had saved pennies for 45 years and just picked them up from the street. He had no idea yet, but that effort resulted in a fortune, and it was all for him.

Otha Anders

Otha Anders was a 73-year-old who worked with the Jackson School Board. He watched suspended kids and loved his job. This man focused on family and had children and a wife who supported him all the way. However, one hobby of his raised some eyebrows.

Obsession

Anders started collecting pennies from the street as a hobby, but it turned into an obsession and all-consuming hobby with time. In fact, he felt that those pennies were an incentive from God.

Reminder

Otha claimed that there were days he didn’t pray because he was busy or didn’t think of it. However, when that happened, he came upon a dropped or lost penny. It just showed up to remind him.

Praying from a Penny

Most people think to wish on a penny, but Otha prays on one. He’d been religious all his life, and his faith grew as he got older. That’s how the penny obsession started; he saw those pennies as a personal gift from God and never realized how many gifts he could get.

Quirky Habits

The moment Anders picked up that first penny, he never dreamed he might continue grabbing them for the next 45 years. However, he soon realized that his penny pile was growing, making him more obsessed over time.

No Spending

He felt compelled to believe that those pennies were a God-given gift. Therefore, he chose to stop spending any pennies at all. If he got one, he kept it. That’s not all, though!

The New Norm

Anders also made sure that the change he got from a cash purchase contained three pennies. It was a quirky habit, but with time, it grew to be something more. His friends and family were used to this behavior, though the amount he gathered was staggering.

Principles

Otha said that he never spent a penny. In fact, he broke a dollar before he gave up a precious coin. This man was on a mission. Once his students at school learned about his fascination, they chose to help.

Handfuls of Pennies

School children came to his class with handfuls of pennies to hand over. However, Anders had principles. He never let anyone – even his wife and kids – give pennies without getting compensation. Did he pay them for their pennies?

Stealing or Taking

Anders collected pennies for 45 years until he had filled up 15 5-gallon water jugs. There were so many, and he couldn’t count them. He believed he had 100,000 or more, but he didn’t know. Still, he was about to learn!

75 Gallons

Throughout the years, Otha continued to collect all the pennies he could. With time, he ended up filling 15 5-gallon water jugs, and they only contained pennies. No silver (or nickel) was in sight.

The Problem

He might have gone on collecting them and keeping them if it wasn’t for a problem he encountered. As he was renewing his home affairs, he ended up feeling devastated. What happened?

Unexpected Problem

If Anders had had his way, he might have kept the collection and picked up pennies for years to come. However, life threw a curveball. Since he had a small fortune, he needed the collection covered with house insurance. The company turned him away, and so did many others!

No Cover

When Anders went to renew his home insurance, he learned that the company couldn’t cover the penny collection. Reluctantly, he chose to visit the bank, cashing in his prized possession.

No Clue

Anders really didn’t know how much the collection was worth or how many pennies he had. He speculated and remembered reading once about a coin collection that gave the owner a small fortune!

Value of Time

Though Anders’ collection had modern pennies, people might be shocked to learn that if he held onto them long enough, they could bring him $1 million! That’s what happened to one owner of a Lincoln Wheat penny. An error made it valuable, but why?

Expensive Coins

Many people believe that time is a highly valuable commodity. That’s true for coins, as well. As certain coins age, they become more valuable. Those with errors in the printing are also sought after.

Types of Coins

Which coins are more valuable than others? Specifically, coins made with precious metals (copper, palladium, platinum, silver, and gold) fluctuate in value with time. Generally, though, they’re more valuable as they age.

Declining Worth

Typically, coins made of base metal have little worth, such as aluminum. This is especially true if the government that issued the coins exists no more. What about Otha’s coins? Which side did they fall on? Anders didn’t have time on his side, but there were plenty of them, and one might have had a valuable error.

Calling for Help

Anders knew that he had to get those pennies to the bank before his insurance lapsed. However, he wasn’t sure how to do that. He called around and found a bank that took them called Ruston Origina Bank in Louisiana.

Move Some Jugs

Now that he knew where to take them, Anders had to call a few friends to help him. They all moved the 5-gallon jugs, which were full of pennies. From the truck bed to the bank, they were quite heavy. Plus, there were 15 jugs total!

Disapproving Looks

The bank employees stared while Anders rolled his containers in on dollies, looking at him in confusion. As they saw the number of pennies, their eyes widened. He worried that they might turn him away, and the teller asked how many he had.

Half a Million

Anders paused for a moment and said he wasn’t exactly sure how many there were. If he had to guess, he’d say about half a million little copper pennies. The woman was speechless and said they couldn’t count them for him while laughing.

What Next

Otha was a bit worried now. What could he do if the bank teller turned him away? There wasn’t much else to do except try all the banks in the area. Something in his eyes must have made the woman change her tune.

Calling the Manager

Anders laughed a bit and pleaded. He knew it was crazy, but this was a dear collection and had to be cashed out. He said if it were up to him, he’d keep them forever. The woman decided to call the manager.

Familiar Face

Once the teller called for the manager, he arrived quickly. As he walked out to see what was going on and who caused the ruckus, his face lit up because he saw Anders. He actually knew this man well.

What to Do Now

Before Anders noticed him, he was wondering how to count all the pennies. Maybe he could have brought just one jug at a time. Overall, the final count Otha saved throughout the years was incredible!

Endless Counting

Anders was a loyal and longtime customer who never gave anyone problems. Instantly, the manager wanted to help. He claimed that they value everyone who comes in, but they were happy to assist Otha with his endeavors.

Excitement Builds

Otha was so happy and asked his friends to help him bring in all the containers one at a time. The employees gathered anxiously to see the first 5-gallon container get counted. It was actually the most exciting thing to happen to the bank for a while.

Ax and Hammer

Each of the plastic jugs had to be opened with a hammer and an ax. It took about five hours to put the pennies through the bank’s coin-counting machine to reveal the sum.

The Total Savings

Throughout his 45 years of collecting pennies, Anders had saved $5,136.14! For those who want to know, that equals roughly $114.14 each year. He only picked up old, forgotten pennies from the street, and what was he going to do with the money now?

Dental Bills

Anders knew just how to use the money he received. He had just gotten a dental bill and wondered how he could afford to pay it. Just as the expensive bill hit him, he found the money he needed. Was it a happy coincidence?

Donations, Too

The bill wasn’t as much as his penny collection brought. However, he didn’t want to be greedy. He chose to put the leftover cash toward a family trip and donated some of it to his church.

Keeping the Faith

Anders collected those pennies as a symbol of faith and not greed. Because he was being looked after by God (or whatever you believe in), he kept the faith. His hobby turned into a reminder of how much those little things matter.

Serendipity

Overall, it seems that Anders’ patience and consistency paid off for him. He used the pennies as a reminder to pray and be faithful to God, but he got an extra bonus to his income so that he could pay a bill.

Mysterious Ways

People say that the world (and God) works in mysterious ways. For Otha Anders, that motto is very true. Just look at the results from his small penny collection.

A Penny a Day

Who could have thought that a penny a day (or a bit more) could have such a profound effect on Otha, his family, and the bank employees? It’s crazy to think that, just by saving coins, a person can get $5K!

Considerations for a Brighter Future

It might be wise to consider building a spot for extra change. You might not go to such extremes, but every penny can help. You never know when you might need a bit of a boost to your finances, and coins have worth, too!