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. Anders collected pennies, not as a sign of greed but as a symbol of faith that he was being looked after by the man upstairs, the universe, the penny gods, or whatever you might believe in! But now, since Anders homeowner's insurance policy does not cover his collection, he has reluctantly turned them in to Origin Bank. Powered and implemented by FactSet Digital Solutions. But as he speculated, he remembered reading about a coin collection that resulted in a fortune for the owner. Anders sheepishly laughed with her before pleading with her again. 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. Otha Anders was a 73-year-old who worked with the Jackson School Board. He probably would have kept his obsession up if he hadnt figured out some when he had to renew his home affairs. I became convinced that spotting a lost or dropped penny was an additional God-given incentive reminding me to always be thankful, 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. Anders said. "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.". 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. "But if we can help Anders with his endeavors, we are happy to do so.". A lot of us dont really mind the coins in our pocket, especially the ones with the smallest values but there are those who have proven that even the smallest coins can bring in a lot of cash; although youve got to spend decades to collect a lot to actually give you that much money! That first penny, he told the Star, reminded him that life is a gift from God. Updated: 8:46 AM EDT October 28, 2015 . 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! 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. The woman gave Anders a long look before calling her manager. Then, one day, he decided to turn in the loose change. 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. Anders continued to collect his pennies for 45 years until he successfully filled fifteen five-gallon plastic water jugs. Anders worried they would turn him away. 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. Coins made of base metals, such as aluminum, have very little worth. And after acquiring over a half million of these coins, he finally cashed them in on Tuesday at Origin Bank. It all just started that one day when he found a penny in the street; he went on to collect more. 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! This small event set the path for over four decades of Anders looking out for pennies, be it whatever he may have found on the ground or collecting all the pennies after a trip to the grocers. "I would break a dollar before giving up a penny.". An error in the coin made it extremely valuable, and its value could only keep growing over time. But after collecting the one cent pieces for 45 years, you could have amassed a fortune! Cool, isnt it? I became convinced that spotting a lost or dropped penny was an additional God-given incentive reminding me to always be thankful, the 73-year-old told the news site. To him, it was a small and simple quirky habit but over time, it didn't look so small anymore. 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. Their eyes popped as they took in the sight of the sheer amount of pennies. An error in the coin made it extremely valuable, and its value could only keep growing over time. As a supervisor for in-school suspended children for the Jackson School Board, Anders said his students learned about his penny fascination and would save them up to sell to him. Not many people think too much of a penny - it is just one cent. How many are there?, she asked. This meant that he soon had more pennies than he knew what to do with. His quirky hobby turned out to be a brilliant reminder of how much little things matter. RUSTON, La. Copyright 2021 Obsev.com All Rights Reserved, Man Who Saved Pennies For 45 Years Finally Cashes Out. It eventually became so much of a hobby that he would deliberately avoid ever spending pennies. What if you collected pennies as a hobby? But now, he was about to find out. Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. However, thats not true for all coins. 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. 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. During the five-hour process of counting the pennies, the plastic jugs were hacked open with an ax and hammer. 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. 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. Thats especially true when it comes to coins - but - only certain kinds of coins. Anders loved his pennies, they were his prized collection. And they werent the only establishment to do so. You know you see pennies all over. La. "I have not spent a penny in 40-plus years. At the end of the labor intensive counting, the bank informed Otha he had saved a total of $5,136.14 all those 45 years! A Louisiana man who collected pennies for almost half a century finally cashed in Tuesday. But Anders says that he would never accept a penny from anyone, even his family, without giving them something in return. Cole said the bank will then send the pennies off to the FDIC, and the bank will receive their credit for them. "Whenever I would see a penny, I would always say a prayer of thanks. 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. Anders is a beautiful example of how all of us can learn to be thankful for the small things. He cashed in the coins to the Ruston Origin Bank, in Ruston, La. Anders didnt know that after he picked up his first penny, more would keep appearing through his love. Subscribe to our channel: http://bit.ly/FactsVerse Image Credits :Like this content? Your California Privacy Rights/Privacy Policy. The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. The coin reminded him to pray and give thanks. . All Rights Reserved. October 28, 2015 at 10:29 pm EDT. Otha Ander was a supervisor on the Jackson School Board and was passionate about his job. For Anders, the process of collecting the coins meant more than the money he would make. Wow. Mutual Fund and ETF data provided by Refinitiv Lipper. And the kids seemed to love him too.Anders was a family man with a loving wife and children who supported his every move. These cookies ensure basic functionalities and security features of the website, anonymously. Employees gathered to see the first five-gallon container being counted. Legal Statement. It took the bank over 5 hours to count the money and thats through a machine! 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. He was so serious about his rather unique hobby that he ended up collecting 55 large water jugs filled with pennies. But why? Anders also added that his friend,Jack "Domino Kid" Brown, played a significant part in his penny collection. By Laurie Hanna. "Our exchange became competitive by each trying to outdo the other and consequently our collections; his nickels, my pennies began to multiply," he said. (Fox 14) A Louisiana man who collected pennies for almost half a . Otha Anders saved his first penny more than 45 years ago when he found it on the ground. Which side of value did they fall under? 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. 24/7 coverage of breaking news and live events. The final count: 513,614 pennies, which comes to a little over $5,136, Fox 14 reports. He also stopped spending pennies on purchases, preferring instead to put them in emptywater jugs, the Star reports. We may earn a commission from links on this page. But if we can help Anders with his endeavors, we are happy to do so.. It was by far the most exciting thing that had happened at the bank in a while! Even opening the jugs wasn't a simple task -- they were hacked open with an axe. He always made sure that his change had pennies in it. I would say hes done a lot of collecting over the years., Vice President Jennie Cole also said that Anders was a long-time customer whom they wanted to help. Total Savings. This means that on an average day, he had collected around 31 pennies. But what was he going to do with his saved money? Otha Anders cashed in his giant penny collection. While he was working as a supervisor for in-school suspended children for the Jackson School Board, students found out about Anders quirk and began to save pennies to sell to him. 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. When he finally took his collection over to the bank, tellers were staggered by the amount he had saved. You know you see pennies all over. And as he got older his connection to god only felt stronger for it. Guess Who Her Dad Is. It is said that the world works in mysterious ways, and for Otha Anders and the result of his penny collection, that motto is certainly true ! But when they finally did, the actual amount Anders had saved all these years was incredible! But when they finally did, the amount Anders had saved all these years was incredible! It seems that this small habit was a touching way for Anders to strengthen his relationship with God. Youtube / Kray K News. "I would never spend a penny,"he said. The counting and processing of the coins took a total of about five hours, according to the News-Star. In the end, Anders was always fair about how he came across his pretty pennies. And they werent the only establishment to do so. The 73-year-old's homeowner's insurance didn't cover his collection, he told ABC News, that although he long ago surpassed his goal of filling five 5-gallon water jugs with coins, he found himself unable to stop collecting. It wasn't easy to transport these jugs to the bank, especially as the total weight was more than 2,800 pounds. Ruston resident Otha Anders started saving his first penny more than 45 years ago when he found it on the ground. He started collecting pennies in the early 1970s. But collecting pennies was more than a hobby for Anders. However, you may visit "Cookie Settings" to provide a controlled consent. We also use third-party cookies that help us analyze and understand how you use this website. Anders says he plans to use the cash to help pay a dental bill. Fifteen five-gallon plastic water jugs and half a million pennies later, Anders on Tuesday deposited $5,136.14 into his account to go toward a recent dental bill. According to the . (MyFoxBoston.com) -- Many people save spare change to cash in during rough financial times. Anders had put all the pennies he found into water jugs. This cookie is set by GDPR Cookie Consent plugin. Market data provided by Factset. 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. Quotes displayed in real-time or delayed by at least 15 minutes. Otha Anders cashed in his giant penny collection. Jul 2, 2018. The News Star reports that thehabit was first ignited when he found a penny lying on the ground. They were much heavier than youd think, and not to mention, there were fifteen of them! "Anders will inform us on where he wants the cashed-in money to be placed," she said. 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. We value his business, as we do all of our customers, Cole said. With the help of friends and family, Otha Anders wheeled in 15 water jugs full of pennies to the bank in Ruston. Market data provided by Factset. "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.". 73-year-old Otha Anders worked as a supervisor on the Jackson School Board. When he finally took his collection over to the bank, tellers were staggered by the amount he had saved. To get the pennies to the Ruston Origina Bank in Ruston, LA, Anders needed help.He ended up getting a couple of his friends to help move the five-gallon jugs full of pennies into his truck and then into the bank. 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 said. Since then, Anders had been piling up the pennies, refusing to spend them and always making sure that whenever he bought something, his change had three or four pennies in it. Have you ever felt bogged down by the change in your wallet that feels like extra weight that you'll never get rid of? 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. The plastic jugs had to be opened with an ax and hammer, and the bank was not prepared for such a large collection even though Anders had called a week prior to inform them that he would be coming with a colossal amount of pennies. Pennies are small both in size and worth, but as a popular Indiansaying goes, "Drops of water collected eventually become a flowing stream." The cookie is used to store the user consent for the cookies in the category "Analytics". This 73-Year-Old Man Has Collected Pennies For 45 Years And Now He's Cashing Out For 45 years, Otha Anders saved his pennies. "I wanted the inner satisfaction that God and I acquired this collection.". Specifically, coins made of precious metals like gold, silver, platinum, palladium, and even copper fluctuate in value over time but generally become more valuable. Studies have shown that gratitude is a sure-fire way to a path of greater happiness in life. Do Not Sell or Share My Personal Information. But one Louisiana man gathered more than 500,000 pennies over the course of 45 years. Could you have the discipline to collect coins for almost 50 years? "We value his business, as we do all of our customers," she said. By clicking Sign Up, I confirmthat I have read and agreeto the Privacy Policy and Terms of Service. He had always been a religious man and his faith had grown stronger as the years passed.His faith was how his penny obsession all started. "I would never spend a penny," Anders said. 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. What began as something fun turned into a full-blown obsession and an all-consuming hobby. Bank Vice President Jennie Cole said it was not a typical day at the bank when Anders had his collection of pennies rolled in on a dolly, but Anders is a longtime customer who they wanted to help. The process of counting took so much time because the coin bag had to be changed every 20 minutes after it would reach$50. The final amount was certainly not small. These cookies will be stored in your browser only with your consent. Otha Anders started collecting pennies because he became "convinced that spotting a lost or dropped penny was an . As the report tells it, Otha Anders started more than 45 years ago when he found a penny on the ground and decided to save it. October 29, 2015 By Coin Update 13 Comments. How many were in there? He started collecting pennies in the early 1970's. He would just find them and save them. "I became convinced that. It'll go toward a recent dental bill, the Ruston Daily Leader reported. With all the pennies this guy had, he must've been very, very lucky. Anders and his friends hauled in the containers one by one. If I hadnt turned them in yesterday, I was not going to stop.. A Maryland Dumping Site Was Actually A Black Cemetery. "But if we can help Anders with his endeavors, we are happy to do so.". Breanna Edwards. Here was a man who certainly lived by the adage "See a penny, pick it up. Nancy Bergeron/Ruston Daily Leader This soon became an obsession until he started saving his own pennies for his hobby. Earn a commission from links on this page her again Maryland Dumping Site was a! 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