Skip to comments.Milford (MA) Man Pays Off Mortgage With 800 Pounds Of Pennies
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 Im 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 ...
Personally, I was hoping it would be more. Source
No doubt he lives on Penny lane. (Yeah, I’m not quitting my day job).
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.
That guy is a jerk.
Isn’t copper going for more than $1.81 per lb?
Would you want to go through 140,000 pennies to sort out the wheaties so you could get 2 cents a pop for them?
I’d like to pay my taxes to the IRS this way.
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.
He certainly gave them no quarter.
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.
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.
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.
I wouldn’t want to... but it sounds like a job that would be great for keeping kids out of trouble :D
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.
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.
I laughed out loud. (but you can see I’m an easy touch)
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.
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.
Yeah, who needs customers?
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.
Please: NO profanity, NO personal attacks, NO racism or violence in posts.So whence thy blanket judgment, O Wise One?
Imagine how much interest he could have saved and paid off the mortgage early if he hadn’t been acting a fool.
Aren’t US pennies made of copper-plated zinc?
How much do you know about his mortgage terms, and what kind of terms were available back in 1977?
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.
Now THAT'S funny!!!
Seems like sour grapes because HE paid off his mortgage.
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!
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.
If one of those pennies turns out to be canadian, whoops, foreclosure.
Stop making cents.
Upon noticing the disgusted look on the face of the bank employee, the former mortgage holder inquired- “A penny for your thoughts?”
Yes, but pennies made since 1983 or so are only copper plated. I think the bulk of the penny is zinc.
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