What are you saving your pennies for?
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I'm saving up until I've got enough to get a big load of different kinds of chocolate. Then, I'll split them up to use in hampers for gifts for Christmas, and also in my baking. 
Can't help it if I see a penny in the street I've got to put it in my special chocolate pot.
KB xx
Can't help it if I see a penny in the street I've got to put it in my special chocolate pot.
KB xx
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469 Posts
I have two piggy banks: one is just silver change and that one goes to something I especially want. Last year, I used it for stocking stuffers for the family. THIS year, it's mine, and I'm going to use it to get a Kitchenaid Stand Mixer. My other "penny" bank is at work (stored in an upside down bulk CD tower). It's labeled as a restaurant fund to my coworker's and my favorite local sushi place. When it's full of pennies (about $40), we splurge and go eat there (works out to be about once a year). He puts his pocket pennies in there; I clean out the pennies off the bottom of my purse and they go in there. It's just something fun the two of us started a few years ago and have kept with it. Other office workers (and guests) will sometimes ask about the clear plastic container of pennies on my filing cabient, and then they'll often drop a few in there to add to our fun.
I separate the pre 1982 pennies into mason jars since they are 95% copper and the raw material is worth more than 1 cent (about 2.9 cents), the newer pennies are 97.5% zinc.
1982 pennies can be of either make up, only way to really tell the difference is the weight.
Interestingly enough, nickels with their nickel and copper content are worth more than 5 cents (about 7.8 cents) and the US mint is losing money by still making them. This is like what happened when silver was taken from circulating coins. The monetary unit became so devalued that the metal in the coin had more purchasing power then the nominal value stamped on them. It's a huge, in your face sign that the currency is constantly being devalued.
Here is a nice site to see the current value of coins: Current Melt Value Of Coins - How Much Is Your Coin Worth?
1982 pennies can be of either make up, only way to really tell the difference is the weight.
Interestingly enough, nickels with their nickel and copper content are worth more than 5 cents (about 7.8 cents) and the US mint is losing money by still making them. This is like what happened when silver was taken from circulating coins. The monetary unit became so devalued that the metal in the coin had more purchasing power then the nominal value stamped on them. It's a huge, in your face sign that the currency is constantly being devalued.
Here is a nice site to see the current value of coins: Current Melt Value Of Coins - How Much Is Your Coin Worth?
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7,747 Posts
To fix my dishwasher!
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223 Posts
I've been doing a general saving and adding ANY extra, coin jars included, to my EF.
I've got that up to $1000 as of this last paycheck, so now I'm saving up to finish college. I'll get some grant money, but to avoid taking out any loans, I'll have to resort to whatever I manage to save. Even if I can only take one class per semester, that's fine with me!
I go in Monday for my first meeting with my advisor, then hopefully start a summer class online at the end of May!
I've got that up to $1000 as of this last paycheck, so now I'm saving up to finish college. I'll get some grant money, but to avoid taking out any loans, I'll have to resort to whatever I manage to save. Even if I can only take one class per semester, that's fine with me!
I go in Monday for my first meeting with my advisor, then hopefully start a summer class online at the end of May!
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382 Posts
I am saving to take my kids to Disneyworld Everytime I get paid on Fridays the lady at my bank and I talk about it when I cash my check For example if my check was $109 I ask her for the $9 in gold dollar coins so that I can add it to my jug. Whatever the small dollar amount is I get it in gold coins I also recycle my alluminum cans and get that money in dollar coins and then I also add all my change so hopefully this will all add up fast. We really want to see Disney
Everytime I get paid on Fridays the lady at my bank and I talk about it when I cash my check For example if my check was $109 I ask her for the $9 in gold dollar coins so that I can add it to my jug. Whatever the small dollar amount is I get it in gold coins I also recycle my alluminum cans and get that money in dollar coins and then I also add all my change so hopefully this will all add up fast. We really want to see Disney 
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1,281 Posts
Mine are for my new stockpile that I'll be starting from scratch when we move to our new place in September!
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I'm saving (and have been for about 5 months) for a MacBook Pro. My MacBook belongs to the school, and I'd like a MacBook Pro that I can use and download whatever I'd like and I can download all of our photos and videos, etc. I'm in a holding pattern until I start piano lessons again.
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1,456 Posts
My change jar, and my returnable cans and bottles money goes into an evelope. Last year I took my two boys and I to Yankee Stadium for our first ever Live Yankee game! I plan on doing the same this year....and whatever money may be left will roll over into something else that I will decide at a later date...Maybe a bigger vacation, for say next Spring break!
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461 Posts
This is exactly what I do! :jar:
All other change goes into DD's bank account!
Here's another link on coin metal value:
Cost to Make Penny and Nickel Rises for US Mint | Coin Update News
CNBC had a show about pennies and nickels back in January. Hoping to catch a rerun even though I saw it first time around.
TONIGHT ON 60 MINUTES: YOUR MONEY - CNBC Ad Sales
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