Most of us see loose change as a nuisance and for the most part want nothing to do with it. If the clanging in our pockets or cup holders isn’t irritating us then it’s most likely lost between the seats of the car or better yet completely out of sight forever on the concrete for someone’s future good fortune. If we do care about it at all it may end up in a jar or 5 gallon jug at home where it will sit and collect. I too used to see change as an added aggravation until recently when I stumbled across an article story about a man who had accumulated $5,136.14 by collecting pennies for 45 years. After reading the article I no longer saw my loose change as a nuisance, but as an opportunity to save.
According to Coinstar the average American will handle $600 of loose change (Coinstar). Knowing the shear volume of coinage we go through a year suddenly the penny’s, quarters, dimes, and nickels we all take for granted seem much more valuable. Imagine having an extra $600 to pay off bills or invest towards your future. Not only do we go through a lot of change, but we also lose or discard it in haste. Last year alone TSA collected $765,759.15 in loose change left behind by passengers.
Even without a large amount of foot traffic massive amounts of loose change can accumulate. In Bradenton Florida, a man spent 10 years collecting change at car washes, gas station vacuums and vending machines during daily walks. His daily walks yielded on average $5.60 and in those 10 years totaled $21,495 in change; the same change others decided weren’t of value. It is true that one man’s trash is another man’s treasure and in this case change is quite the treasure. So the next time someone hands you a couple coins, or you spot that shiny penny on the ground pick it up. It may just be the beginning to a small fortune.
See you next time around!
Matt Panzo | CEO & Co-Founder