Saturday, July 07, 2012

Man pays off his mortgage... with 62,000 pennies

What started out as a joke 35 years ago ended with a Massachusetts man paying off his mortgage using 62,000 pennies. "I've never saved anything other than pennies. And it started out as a whim. You know, a penny for the mortgage," Thomas Daigle told NBC affiliate WHDH-TV of Boston.


Daigle, from Milford, Mass., recalled how, after signing the mortgage papers 35 years ago, he found a penny on the ground. He and his wife then joked about collecting pennies to pay off the loan -- and the rest is history.


Over the next 35 years, Daigle would roll pennies, 50 cents at a time. His bank found out the hard way just how much work that was -- it reportedly took tellers two days to unroll the penny cases.
From here.

The bank may have gotten the better part of the deal. The price of copper is so high that the melt value of a penny is higher than its 1 cent face value.

No comments: