To bank a large haul of pennies, a US couple struggles

earning pennies

After discovering what they think to be a million copper pennies in a basement, a couple in California is in it for the long haul.

Around nine months ago, while cleaning her late father's Los Angeles home, John Reyes and his wife came across bags of the coins.

The family debated selling them for their $10,000 (£8,000) face value, but ultimately decided against it.

One nearby bank informed Mr. Reyes that there was no room for the coins in the vault.

In an interview with a nearby CBS News affiliate, he recalled being told "'Don't bring them here'" by the manager of a Well Fargo branch.

He made the discovery while crawling around in the attic of his father-in-law's house in the Pico-Union neighborhood of Los Angeles on his hands and knees.

He claimed that initially he discovered tons of loose pennies that had rolled away after the paper rolls holding them in bundles crumbled. Later, they discovered bank bags loaded with heavy loads of pennies.

According to Mr. Reyes, some banks are no longer in operation.

In order to get them out of the house, Mr. Reyes continued, "we literally had to take them bag-by-bag out of the basement, up the stairs, and into the trucks.

The family speculates that the early 1900s-era house may have once served as a bed and breakfast.

The pure copper coins were produced before 1943, when the US started producing the one cent coin using other metals due to World War Two shortages. Zinc now makes up the majority of pennies.

According to the couple, the coins made their car so heavy that they had to drive in the slow lane. They have not counted each one individually, but they extrapolate from the weight that there are roughly one million in the cache.

The couple reluctantly made the decision to forgo cashing out the substantial load after speaking with a banker.

You hear about people finding pennies that are worth $2 million, Mr. Reyes said.

Instead of searching the haul for any valuable rare coins, they have chosen to sell the entire collection online for $25,000 instead.

The money, according to Mr. Reyes, will go toward remodeling the house so that it can be rented out to future generations.

He claims that as a result, he has the impression that his father-in-law is still watching out for the family more than ten years after his passing.

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