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Milford (MA) Man Pays Off Mortgage With 800 Pounds Of Pennies
CBS Boston ^ | July 5, 2012 4:54 PM

Posted on 07/06/2012 8:21:41 PM PDT by Olog-hai

He says it became an obsession, but a 35-year-old dream became a reality for a Milford man as he paid off his mortgage with pennies.

“It started out as a joke,” says Thomas Daigle. “I said I’m going to pay the last mortgage payment off on this place in pennies.”

Thomas Daigle says he was looking for a hobby during those long rainy and snowy afternoons in Milford. So he started counting his change and rolling his pennies. …

On his 35th wedding anniversary, Daigle and his wife Sandra walked into Milford Federal Savings and Loan and paid off their mortgage with over 800 pounds of pennies. …

(Excerpt) Read more at boston.cbslocal.com ...


TOPICS: Business/Economy; Hobbies; Humor; Local News
KEYWORDS:

1 posted on 07/06/2012 8:21:47 PM PDT by Olog-hai
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To: Olog-hai
If he paid in pennies made since 1983, there are $1.81 worth of pennies in a pound. So, if he had 800 pounds, he had in the neighborhood of $1,448 to pay off on his mortgage.

Personally, I was hoping it would be more. Source

2 posted on 07/06/2012 8:25:40 PM PDT by Hodar (A man can fail many times, but he isn't a failure until he begins to blame somebody else.- Burroughs)
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To: Olog-hai

No doubt he lives on Penny lane. (Yeah, I’m not quitting my day job).


3 posted on 07/06/2012 8:44:57 PM PDT by bramps (Newt was the one, but Romney will do.)
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To: Olog-hai
At least the bank couldn't accuse him of nickel and diming them. (I'm hot now, look out).
4 posted on 07/06/2012 8:46:49 PM PDT by bramps (Newt was the one, but Romney will do.)
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To: Hodar

Mayhap that is all he owed and thought it a great way to get rid of all the pennies he had been collecting ‘o these many years.


5 posted on 07/06/2012 8:47:29 PM PDT by doc1019 (Voting for the lesser of two evils is still voting for evil.)
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To: Olog-hai

That guy is a jerk.


6 posted on 07/06/2012 8:51:22 PM PDT by gilor (Pull the wool over your own eyes!)
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To: Hodar

Isn’t copper going for more than $1.81 per lb?


7 posted on 07/06/2012 8:52:07 PM PDT by KoRn (Department of Homeland Security, Certified - "Right Wing Extremist")
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To: KoRn

Would you want to go through 140,000 pennies to sort out the wheaties so you could get 2 cents a pop for them?


8 posted on 07/06/2012 8:54:16 PM PDT by LukeL (Barack Obama: Jimmy Carter 2 Electric Boogaloo)
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To: Olog-hai

I’d like to pay my taxes to the IRS this way.


9 posted on 07/06/2012 8:56:49 PM PDT by fwdude ( You cannot compromise with that which you must defeat.)
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To: KoRn

According to the source, there are 181 pennies to a pound. Multiply the number of pennies to a pound, by the number of pounds delivered to the bank - and you arrive at the outstanding balance.


10 posted on 07/06/2012 8:57:05 PM PDT by Hodar (A man can fail many times, but he isn't a failure until he begins to blame somebody else.- Burroughs)
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To: bramps

He certainly gave them no quarter.

:)


11 posted on 07/06/2012 9:04:10 PM PDT by ROTB (Live holy, forgive all & pray in Jesus' name. Trust He is willing & able & eager to ANSWER BIG!)
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To: gilor
That guy is a jerk.

I agree, his stupid "joke" has caused some poor innocent workers to have to deal with the mess he dumped on them. Really funny, ha ha. This guy needs some bad karma dumped on him so he knows what it feels like.

12 posted on 07/06/2012 9:05:13 PM PDT by DCBurgess58 (In a Capitalist society, men exploit other men. In a Communist society it's exactly the opposite.)
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To: KoRn

Yes, but newer pennies aren’t all copper. If you have old enough pennies, then the metal is actually worth more than the face value. The problem is, it’s illegal to melt down pennies, and it’s also illegal to export them for the purposes of melting them down.


13 posted on 07/06/2012 9:07:22 PM PDT by Boogieman
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To: DCBurgess58

He had a change collection and needed to dump it. I am guessing the bank gave him a receipt and counted the change over the course of a couple days.


14 posted on 07/06/2012 9:07:22 PM PDT by LukeL (Barack Obama: Jimmy Carter 2 Electric Boogaloo)
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To: LukeL

I wouldn’t want to... but it sounds like a job that would be great for keeping kids out of trouble :D


15 posted on 07/06/2012 9:08:56 PM PDT by Boogieman
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To: LukeL

lol When I was a kid, I had a little paper bag full of wheaties. My grandmother told me to always save them. At the time I didn’t know why. She grew up during the depression, so she saved everything, and passed on the knowledge anytime she could. I’m thankful that she raised me for the most part.


16 posted on 07/06/2012 9:09:29 PM PDT by KoRn (Department of Homeland Security, Certified - "Right Wing Extremist")
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To: Olog-hai

I haven’t cashed in my pocket change for maybe 10 years now, and it really does pile up. First, I threw it in an old burlap moneybag that I had. That filled up, and then I started tossing the change in some 1 liter plastic beer steins I collected from Oktoberfests. Those filled up, so, now I have to occasionally dump them out into doubled-up plastic grocery bags.

I imagine I probably have more than a hundred pounds of change by now, but it’s not all pennies, so I have no clue how much it adds up to in dollars. At the least, if I ever go broke, it should keep me in beer & cigarrettes for a few months.


17 posted on 07/06/2012 9:14:46 PM PDT by Boogieman
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To: ROTB

I laughed out loud. (but you can see I’m an easy touch)


18 posted on 07/06/2012 9:24:50 PM PDT by bramps (Newt was the one, but Romney will do.)
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To: DCBurgess58

Almost all banks have coin counting machines that can chew through something like $10 worth of pennies a minute. I had a bucket containing something like $300 of mixed change once and it took my bank’s counting machine 10 minutes to sort through it, kicking out the occasional foreign coin and button to a reject tray. They gave me the reject items back at the end.


19 posted on 07/06/2012 9:28:20 PM PDT by HiTech RedNeck (let me ABOs run loose, lew)
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To: gilor

No kidding. He borrows money from the bank—and then he acts like its an imposition to pay it off. Does he realize someone has to handle all of his filthy pennies.

Customers suck.


20 posted on 07/06/2012 9:47:38 PM PDT by Vermont Lt (I just hate our government. All of them. Republican and Democrat.)
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To: Vermont Lt

Yeah, who needs customers?


21 posted on 07/06/2012 10:04:54 PM PDT by Olog-hai
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To: KoRn

The last “wheaties” were made in 1958, copper cents were made until 1982, since then they are copper clad. I still wouldn’t want to look through them to find the pre 1983 ones, it would be even harder than looking for wheaties.


22 posted on 07/06/2012 10:08:50 PM PDT by Graybeard58
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To: gilor
You seem to have a lot of problems and are taking them out on this forum.
Please: NO profanity, NO personal attacks, NO racism or violence in posts.
So whence thy blanket judgment, O Wise One?
23 posted on 07/06/2012 10:09:17 PM PDT by Olog-hai
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To: Olog-hai

Imagine how much interest he could have saved and paid off the mortgage early if he hadn’t been acting a fool.


24 posted on 07/06/2012 10:43:40 PM PDT by bgill
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To: KoRn

Aren’t US pennies made of copper-plated zinc?


25 posted on 07/06/2012 10:45:40 PM PDT by Squawk 8888 (Tories in- now the REAL work begins!)
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To: bgill

How much do you know about his mortgage terms, and what kind of terms were available back in 1977?


26 posted on 07/06/2012 10:55:26 PM PDT by Olog-hai
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To: LukeL

With coin counting machines it would have taken about 40 minutes to count those if they were brought in loose and a bit longer if they were brought in rolled because each roll would need to be broken open.


27 posted on 07/07/2012 1:45:32 AM PDT by scram2
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To: Vermont Lt
Customers suck.

Now THAT'S funny!!!

28 posted on 07/07/2012 3:15:14 AM PDT by Roccus (Obama & Holder LLP, Procurers of fine arms for the most discerning drug lords (202) 456-1414)
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To: gilor
That guy is a jerk.

Seems like sour grapes because HE paid off his mortgage.

29 posted on 07/07/2012 3:20:09 AM PDT by presently no screen name
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To: Olog-hai

Years ago, I knew a guy in Houston who did something similar with his child support. ‘cept he added a little sand and motor oil to the pennies. I don’t remember the number of days he served in jail. Needless to say, the judge wasn’t pleased!


30 posted on 07/07/2012 4:27:47 AM PDT by cpa4you (CPA4YOU)
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To: Olog-hai

I also have several hundred pounds of pennies, even if I melted it all down into ingots which I can the mixed zinc and copper would still be worth more, and thats at todays prices, possibly more in the future. My scrap copper bin has enough copper to mix in that the price deduction for the minor amount of zinc is minimal.


31 posted on 07/07/2012 4:33:38 AM PDT by Eye of Unk (Going mobile, posts will be brief. No spellcheck for the grammar nazis.)
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To: Olog-hai

If one of those pennies turns out to be canadian, whoops, foreclosure.


32 posted on 07/07/2012 4:56:21 AM PDT by lowbridge (Joe Biden: "Look, the Taliban per se is not our enemy.")
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To: bramps; mikrofon; Charles Henrickson

Stop making cents.


33 posted on 07/07/2012 7:02:15 AM PDT by martin_fierro (Punny)
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To: martin_fierro; bramps; Charles Henrickson

Upon noticing the disgusted look on the face of the bank employee, the former mortgage holder inquired- “A penny for your thoughts?”


34 posted on 07/07/2012 7:11:28 AM PDT by mikrofon (Coin-cidentally)
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To: KoRn
Isn’t copper going for more than $1.81 per lb?

Yes, but pennies made since 1983 or so are only copper plated. I think the bulk of the penny is zinc.

35 posted on 07/07/2012 7:50:29 AM PDT by Pearls Before Swine
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