Man Pays Mortgage in Pennies
- 12 years ago
Man Pays Mortgage in Pennies - as part of the news series by GeoBeats.
Most of us have micro-treasures buried in our couches and car seats in the form of pennies. One man, however, has made use of pennies in a unique way.
Over 35 years, he accrued pennies so he could make his final mortgage and indeed, he accomplished his objective by paying that last mortgage with 62,000 coins.
He notes "It was something I wanted to do," "I always follow through." "I was just praying I didn't die first," he said.
On average, he added 2.5 pennies each day to his collection and had to change storage containers from grape crates to steel ammo boxes as the weight of pennies increased.
Pennies, recently have been the focus of a national debate. Many advocate for pennies to be removed as a form of currency. Today, it actually costs more than 1 cent to produce a penny. But if pennies were to be eliminated, many worry that it'd increase prices for many products as they'll be rounded to a nickel. Pennies also have a sentimental value to many Americans.
How many pennies do you think you have in your home and car?
Most of us have micro-treasures buried in our couches and car seats in the form of pennies. One man, however, has made use of pennies in a unique way.
Over 35 years, he accrued pennies so he could make his final mortgage and indeed, he accomplished his objective by paying that last mortgage with 62,000 coins.
He notes "It was something I wanted to do," "I always follow through." "I was just praying I didn't die first," he said.
On average, he added 2.5 pennies each day to his collection and had to change storage containers from grape crates to steel ammo boxes as the weight of pennies increased.
Pennies, recently have been the focus of a national debate. Many advocate for pennies to be removed as a form of currency. Today, it actually costs more than 1 cent to produce a penny. But if pennies were to be eliminated, many worry that it'd increase prices for many products as they'll be rounded to a nickel. Pennies also have a sentimental value to many Americans.
How many pennies do you think you have in your home and car?