Comments on: Ever seen a ton of pennies? http://www.mightybargainhunter.com/2007/08/14/ever-seen-a-ton-of-pennies/ Personal finance, commentary, and spending less the easy way Fri, 19 Mar 2010 14:24:44 -0400 http://wordpress.org/?v=2.8.6 hourly 1 By: An American in France http://www.mightybargainhunter.com/2007/08/14/ever-seen-a-ton-of-pennies/comment-page-1/#comment-144967 An American in France Wed, 23 Jul 2008 10:23:13 +0000 http://www.mightybargainhunter.com/2007/08/14/ever-seen-a-ton-of-pennies/#comment-144967 That's really cool that they build those for charity! I think the US mint should melt down pennies, sell the copper and put the profit toward the deficit. There are very few things that cost a penny anyhow. Tax on items could be rounded down (or up.) That’s really cool that they build those for charity!

I think the US mint should melt down pennies, sell the copper and put the profit toward the deficit. There are very few things that cost a penny anyhow. Tax on items could be rounded down (or up.)

]]> By: mbhunter http://www.mightybargainhunter.com/2007/08/14/ever-seen-a-ton-of-pennies/comment-page-1/#comment-84876 mbhunter Thu, 16 Aug 2007 16:49:46 +0000 http://www.mightybargainhunter.com/2007/08/14/ever-seen-a-ton-of-pennies/#comment-84876 Patrick: That post on your blog about the guy who paid his tax bill in coins and small bills was pretty funny. MW: My credit union doesn't charge for that service yet, but I can see them doing that if people abuse it. Then again, the deposits aren't for a business, either. I'd think that counting and depositing the coins for a charity event for something like this free of charge would be good PR. Patrick: That post on your blog about the guy who paid his tax bill in coins and small bills was pretty funny.

MW: My credit union doesn’t charge for that service yet, but I can see them doing that if people abuse it. Then again, the deposits aren’t for a business, either. I’d think that counting and depositing the coins for a charity event for something like this free of charge would be good PR.

]]> By: Minimum Wage http://www.mightybargainhunter.com/2007/08/14/ever-seen-a-ton-of-pennies/comment-page-1/#comment-84812 Minimum Wage Thu, 16 Aug 2007 09:16:04 +0000 http://www.mightybargainhunter.com/2007/08/14/ever-seen-a-ton-of-pennies/#comment-84812 Actually, it's becoming common for banks to charge a fee for coins (coming in or going out) in roll quantities. For example, a charge of 25 cents per roll is not unusual. So if you brought in 400,000 pennies ($4,000 or 8,000 rolls) that might cost you $2,000 which would be counterproductive. Retail stores with a lot of low-value cash transactions require a lot of coin; now banks are charging them for it. Vending machine and arcade game operators deposit a lot of coin; they're being charged now too. I used to think Coinstar machines - which I have never used - were a ripoff, but it looks like such fees are becoming the norm for changing coin. Actually, it’s becoming common for banks to charge a fee for coins (coming in or going out) in roll quantities. For example, a charge of 25 cents per roll is not unusual. So if you brought in 400,000 pennies ($4,000 or 8,000 rolls) that might cost you $2,000 which would be counterproductive.

Retail stores with a lot of low-value cash transactions require a lot of coin; now banks are charging them for it.

Vending machine and arcade game operators deposit a lot of coin; they’re being charged now too.

I used to think Coinstar machines – which I have never used – were a ripoff, but it looks like such fees are becoming the norm for changing coin.

]]> By: Patrick http://www.mightybargainhunter.com/2007/08/14/ever-seen-a-ton-of-pennies/comment-page-1/#comment-84311 Patrick Tue, 14 Aug 2007 11:21:17 +0000 http://www.mightybargainhunter.com/2007/08/14/ever-seen-a-ton-of-pennies/#comment-84311 Awesome! What good fun, though it is a very expensive hobby! Imagine walking into your local bank and informing the teller you would like to open and fully fund a Roth IRA right away. Then drag in a little red wagon full of pennies! :) Awesome! What good fun, though it is a very expensive hobby! Imagine walking into your local bank and informing the teller you would like to open and fully fund a Roth IRA right away. Then drag in a little red wagon full of pennies! :)

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