And finally… cashing in on copper

And finally... cashing in on copper

While preparing his late father-in-law’s Los Angeles home for renovation, California-based estate agent John Reyes unearthed an astonishing haul of over one million copper pennies hidden in a tight crawlspace.

The collection, primarily minted before the 1980s US copper to zinc switch, is estimated to hold a face value of at least $10,000.

The discovery quickly posed a unique financial dilemma: how to monetise such a massive collection of copper currency?



An initial plan to utilise a Coinstar machine was dismissed due to the hefty 8% charge. Efforts to deposit the money at a local Wells Fargo were thwarted by a lack of available storage, and subsequent attempt at a different bank closer to Mr Reyes’ home was also unsuccessful.

However, the family’s fortunes took a hopeful turn following a suggestion from the bank’s staff to search for any rare coins in the pile. Mr Reyes and his family opted to leverage the online trend of collectors searching for rare, valuable pennies. As such, the entire collection is now listed for sale on OfferUp for $25,000, a significant markup from its face value, Huffpost reports.

The online marketplace operates on local sites, and Mr Reyes has invited interested parties to contact him through Instagram. One condition, though, is that the buyer must arrange their own transport for the pennies.


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