Family Selling $8,000 In Pennies For $25,000, And It Might Be A Great Deal | Fox Sports Pittsburgh (2024)

Family Selling $8,000 In Pennies For $25,000, And It Might Be A Great Deal | Fox Sports Pittsburgh (2)
Family Selling $8,000 In Pennies For $25,000, And It Might Be A Great Deal | Fox Sports Pittsburgh (3)

You don't have to be too much of a math expert to know that 800,000 pennies equals $8,000, but one family who discovered that many pennies is selling them for $25,000, over three times what they are worth. What's even crazier is that could actually be an amazing deal.

John Reyes and his wife were cleaning out her old family home in Los Angeles when they found the massive collection of 800,000 pennies in a basem*nt crawl space. It turned out that in the 1980s, after the Treasury Department reduced the copper content in pennies, John's late father-in-law stockpiled them thinking that eventually they would be worth more than a penny.

While he wasn't wrong - a regular penny from 1981 or earlier is now valued at up to 3 cents, but if you buy something with it, it is still just worth a penny. However, there is a strong possibility some of the coins in the Reyes' lot could be worth more to collectors, a lot more. According to The Washington Post, the family got inspired to look for those pennies after attempting to unload the hoard. They spent a full day removing it from the basem*nt, then contacted Wells Fargo to see if their local bank could take the coins, but the bank manager explained that there wasn't enough room in their vault. However, once she learned about the size of the collection, the manager suggested the Reyes' look at it a little closer, telling them. "You probably have a million-dollar penny in there."

She could be right - pennies with errors on them can sell anywhere from $1,000 to more than one million dollars. So the Reyes family set off to find one of those valuable coins. It took them an hour to look at just 300 pennies before they gave up and decided to sell them all. John explained, "We had no clue what we were looking for." The good news is, they've already got a potential buyer. No word on how that possible new owner plans to sort through the coins to find any valuable ones.

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Family Selling $8,000 In Pennies For $25,000, And It Might Be A Great Deal | Fox Sports Pittsburgh (2024)

FAQs

How much money is 800 000 pennies worth? ›

You don't have to be too much of a math expert to know that 800,000 pennies equals $8,000, but one family who discovered that many pennies is selling them for $25,000, over three times what they are worth. What's even crazier is that could actually be an amazing deal.

How many pennies does it take to make $1 000? ›

100,000 pennies is equivalent to 1,000 dollars. To convert 100,000 pennies to dollars, divide the number by 100. It's interesting to note that if you were to weigh 100,000 pennies, it would amount to approximately 250 kilograms.

How many pennies do you need to have $100? ›

10,000 pennies are in $100. Every dollar is 100 pennies, and 100 x 100 = 10,000. 10,000 pennies take up 213 cubic inches and weigh 55.1 pounds. Much more cumbersome than a crisp $100 bill at 0.07 cubic inches and .

What penny is worth $250000? ›

1) 1944 Steel Wheat Penny - $408,000. 2) 1943 Copper Wheat Penny - $250,000.

How much is $600 000 in pennies worth in dollars? ›

Rose Taylor 600,000 pennies is not 600,000 dollars it's 6,000 dollars.

How much is $5000 pennies? ›

A hundred pennies make up a dollar. A thousand pennies make up 10 dollars. Therefore, 5,000 pennies make up 50 dollars.

What does $1 million look like in pennies? ›

Answer and Explanation: There are 100,000,000 pennies in one million dollars.

How many pennies make $10,000? ›

One million pennies is $10,000.

Will the U.S. stop making pennies? ›

The U.S. Mint has no plans to discontinue the penny, and such a move would require congressional approval. However, the “Penny Debate” continues in the United States, with pro- and anti-penny advocates both making some pretty solid points in their arguments.

Can 10 pennies make a dollar? ›

For example, you can make a dollar using four quarters, or 10 dimes, or 100 pennies.

How much does 1,000 pennies cost? ›

The amount of dollars that 1,000 pennies is equal to is $10. To find this, we use the following fact: 100 pennies = $1.

How many dollars are 80 000 pennies? ›

Therefore, 80,000 pennies is equal to $800. How much is 10,000 pennies in dollars?

How much is 500k pennies in dollars? ›

$5,000 is 500,000 pennies. The easiest answer to give is to divide the number of pennies by 100. (Since there are 100 pennies in a dollar.)

How much does 1000000 pennies cost? ›

Answer and Explanation:

A million pennies equal $10,000. There are 100 pennies, or cents, in each US dollar.

How many pennies are in $600 000? ›

6,000,000 or 6 million pennies.

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