A 73-year-old man in Louisiana did not originally start saving all of his pennies as a fun personal finance hack. He says that he began the habit 45 years ago as a reminder to pray every day. His collection grew with the help of a friend who had a similar collection of nickels and by simply holding on to every penny that passed through his hands. [More]
Local Official Thinks It’s Uncool To Pay $25 Parking Ticket In Pennies, But Affirms Man’s Right To Do So
A Pennsylvania man who was rebuffed when he tried to pay a $25 parking ticket he owed to his borough entirely in pennies should’ve been able to use those coins, a local official said, but really, it was kind of rude for him to do so.
Printing and minting money is one of the privileges that government has. In theory, this is a privilege because the face value of coins is more than they cost to make. The problem is that while we still have one-cent and five-cent coins here in the United States, those coins are worth less than they were decades ago when they were designed. Minting new ones costs taxpayers money. [More]
Finally, a use for those copper-colored zinc discs of filth: decoration! For a promotional campaign they’re calling “penny-a-print,” printer/copier leasing company Zeno Office Solutions put up a billboard in Winter Park, Florida decorated with 120,000 hand-polished actual pennies. [More]
While there are many opponents of the lowly penny, including a store in Vermont and soon, the entire country of Canada, one musician was about to be punished by the Canadian mint for his love of the little guys. The folk singer featured a photo of pennies scattered on a counter as well as a large penny on the back, and the Mint warned him that he was violating the government’s copyright on the currency. Say what now?
Now that it takes more than a penny to make a penny, many of $0.01 cent skeptics think the United States should just ditch those coppers (and yes, we know, they’re not all copper) like Canada did. But there is at least one penny worth finding in your change jar — a 1792 coin that just sold at auction for $1.15 million.
For your Friday afternoon viewing pleasure, we thought we’d share a YouTube video featuring a case against pennies our reader Lisa sent our way. Sure, you may have seen it, as it’s a few months old, but since we’re sure each and every one of you hasn’t seen every single thing ever on the Internet, this one’s worth a post.
A man who made a scene when he voiced his dissatisfaction with a clinic’s billing department by paying a $25 disputed bill in all pennies is proud of what he did. “I would say that I had a legitimate purpose and it was to resolve a billing dispute and pay it,” the man told KSL, “and to protest how I’d been treated.”
Remember just a few days ago when we wrote about that visionary Dunkin’ Donuts franchise that had started a voluntary no-penny policy? Well it didn’t last long, as NPR has learned from Dunkin’ HQ that the penny-abolishing policy has since been abolished.
One donut shop is taking a stand against the bacteria-ridden zinc disks of suck that are pennies. Reader Tom sent us this photo from a store he recently visited. In a policy change that was probably born during an 8 AM rush, this franchise appears to be are rounding customer totals up or down to the nearest five cents, and only providing pennies to those annoying people who actually want them.
Caffeinated vlogger John Green of the Vlogbrothers outlines the case against pennies. Namely that it costs 1.6 cents to make one, and we could save taxpayers billions if we got rid of them but don’t because of sentimental clinging. He really loathes pennies, referring to the one-cent pieces as “disgusting bacteria-ridden disks of suck that fail to facilitate commerce.”
Here’s the new design for the back of the 2010 penny. Instead of the Lincoln Memorial there’s now a shield, or maybe a tiny badge that you can flash whenever you want to announce, “I have jurisdiction over your pocket change.” No, I’m pretty sure it’s a shield.
What do you do with your pennies? Consumer Reports suggests saving them and depositing them in your bank, or exchanging them for a full-value gift certificate in a Coinstar machine. But Jordan had a much better idea. He tried to use them to pay the impound fee after his car was towed. Video inside. Remember: it’s not a real prank until the cops show up.
Do you stop and pick up change that you find on the ground? No? Well, if you did — how much money do you think you could collect? Marketplace Money talked to some people who make change hunting a hobby — and they say every penny is worth stopping for.
Treasury Secretary Henry Paulson hates the penny because it is a worthless dingleberry of a coin. In an interview sure to have kids thinking they know enough to run the Mint, Paulson simplistically noted: “The penny is worth less than any other currency.” Don’t sing the penny’s swan song just yet.
…he quickly added that he didn’t think it was “politically doable” to eliminate the one-cent coin and it wasn’t something he planned to tackle in the final year of the Bush administration.
Great, add the penny to the slate of issues over which the parties disagree. Put it right next to war spending and social security.
Conventional wisdom dictates that a tightwad wouldn’t buy a piggy bank in the first place, but never mind that. The style hive blog has put together a collection of the top 5 most popular chic piggy banks and we just love them. They’re so cute! Who says saving your pennies can’t be fashionable? Or fun?—MEGHANN MARCO