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Financial And Health Benefits Of Saving Pennies

Updated on April 28, 2019
Cheryl E Preston profile image

Cheryl enjoys writing articles that offers every day people methods to earn or save money and improve their health.

Pennies are valuable
Pennies are valuable | Source

Don't despise small beginnings

There is an old adage that says: "Despise not the day of small beginnings". This most likely came from the Bible, in the first line of Zechariah 4:10 which says in the King James version; "For who has despised the day of small things"? In our modern society, however, most people seem to have a different view when it comes to copper coins and some actually have expressed an aversion to and hate for pennies. Pay attention as you go along your daily routine and you will probably see more pennies lying on the ground, or in the seat of a vehicle than any other denomination of money.

Saving pennies can add up, just ask Otha Anders who held on to his one cent coins for 45 years. He took the money to the bank in 15, five-gallon plastic water jugs. When counted, Mr. Anderson had more than $5,000. That averages to a little over $100.00 each year. That's not a big deal to those who live the high life, but for everyday people, struggling to make ends meet this is pretty impressive. I recall a relative who had several hundreds of pennies stashed in a number of socks in his bedroom. I'm sure when he cashed them in he had an impressive sum of money.

Pennies are a small beginning
Pennies are a small beginning | Source

Pennies spend like dollars

While we no longer live in the days of penny candy, the copper one cent coin still spends. 100 pennies will purchase the same item a four quarters or one dollar bill, but for whatever reason most people ignore the old adage of "Find a penny pick it up, all the day you'll have good luck. This is more than likely because pennies are the lowest denomination of American money and seen as an indication of poverty. This brings to mind the song Christmas is coming. The lyrics are:

Christmas is coming, the goose is getting fat
Please put a penny in the old man's hat
If you haven't got a penny, a ha' penny will do,
If you haven't got a ha' penny, then God bless you

When you hear this song the ord seems to be pronounced as hay penny, but is actually ha penny or a halfpenny. This was associated with the very poorest in the land. People of means did not desire to use the same coin as the least among them. don't let this deter you because pennies have another function. They allow you to purchase items with correct change, so you don't have to break a larger bill.

Pennies can turn into big money
Pennies can turn into big money | Source

Find a penny pick it up

I have noticed as I walk that I can always count on finding a penny or two. One day I was about a block from home and there were a large number of shiny copper coins in the middle of the street. I picked them up and hen I counted there were 28. Someone obviously dropped them, probably when getting out of a vehicle, but no one could have left 28 quarters or dollar bills on the ground. Since then I have made it a mission to pick up all the pennies I find and put them in a jar. I have even on occasion gone to the local convenience store and paid for purchase under $1.00 entirely with pennies. I have seen others do the same and both customers and clerks often roll their eyes as if pennies should be shunned.

Save pennies in a jar
Save pennies in a jar | Source

One man's trash is another man's treasure

Saving copper coins can truly be considered as pennies from heaven when you appreciate their true value. While others see one cent coins as a nuisance, you can be blessed to find the hidden treasure of their true value. Instead of walking by pennies pick them up and put them in a jar. Once the jar is full you can take them to a change machine that can e found in Kroger stores and exchange them for paper money. You can also get the paper penny holders from your financial institution that hold 50 of the coins. Save them to give to children or grandchildren or cash them in in a time of need. I recall family members who had saved ten or twenty dollars worth of pennies they took to the bank. You could even use it to open an account for a young child in your family.

There are also other financial benefits of owning copper coins. Certain pennies have a higher value than one cent. I remember collecting wheat pennies as a young adult. I sold them one day, along with other rare coins to give my son gas money to make it back to college. I recall one penny by itself as work $2.50, so pay attention you may have a true gem among your change,

Copper coins have health benefits
Copper coins have health benefits | Source

A penny for your health

There is an old saying of: "An apple a day keeps the doctor away," Perhaps this should be modified to include copper pennies. According to Science News For Students, two teenage researchers discovered that the copper in pennies may stop the growth of unhealthy bacteria, related to certain infections. The research indicates that this is only true of pennies made between 1962 and 1982 which had over 90% copper.

This might explain why men and women of older generations insisted that putting pennies in your shoes or inside your socks helped relieve arthritis pain, and possibly leg cramps. When I was growing up people soaked pennies in vinegar to combat ringworm on the neck and face. There were also individuals who said placing a penny inside your bra, or on your forehead for a few moments allowed the copper to help relieve stress. I recently had extreme pain in my right foot after walking in flip flops. The bones on top of my foot ached like a toothache and the sole was sore also. I put a few pennies in my sock on the top and bottom of my feet. I went to sleep and the next morning the pain was gone.


The widow's mite
The widow's mite | Source

Pennies add up

The next time you see a penny on the ground and are about to walk by it, don't. Pick it up and utilize it. If you do not want to collect or save them, consider dropping them in the change holder at convenience stores. The customer behind you could be a few cents short of his or her purchase and your small donation may make the difference, Never believe that pennies are beneath you because Luke 21:1-4 says otherwise, In the Berean Bible it reads: "Jesus looked up and saw the rich putting their gifts into the offering box, and he saw a poor widow put in two small copper coins. And he said, "Truly, I tell you, this poor widow has put in more than all of them. For they all contributed out of their abundance, but she out of her poverty put in all she had to live on." If you have ore to give, you should do so but, if pennies are all you have, think of the widow's mite.

Over time, whether you collect them, put them in the change cups in stores, drop them in the Salvation Army Kettle, or give your copper to charity or a church, it adds up. Now that you have read this information you may become esoteric regarding copper coins. You might start seeing them everywhere, and begin picking them up and begin putting those pennies to good use.

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