Do You Pick Up Off The Ground Pennies When You See Them?
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I feel when some people (myself included) see pennies, they feel if they pick them up it is a sign of desperation. They may pick up pennies when walking alone, but in the company of others they pass them by. If a cashier fumbles your change and a few pennies drop to the floor most people don't take the time to stoop down and pick them up (unless you are Homer Simpson).
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Here in the United States, the penny is the smallest denomination coin that we have. It's interesting to see what people are willing to pick up. A nickel or a quarter? What about the quarter's equivalent of 25 pennies? I'd wager that unless there is a large pile of pennies, most people will not take the time to collect them off the ground.
We even have little boxes near cash registers to give away our extra pennies and are used to round up purchases so that we do not receive pennies.
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A penny by itself is not worth very much. But if I were to pick up a penny a day what would I have? 10060 pennies or $100.60. I know if I dropped $100 I would absolutely pick it up, but why wouldn't I pick up what makes a small fraction of that $100? I am not too proud to pick up a penny anymore.
To further show the real value of a penny, lets take a historic journey back to 1492 with Columbus (not a great guy, but he'll do for this example). If Mr. Columbus had taken a penny and invested it in an interest bearing account at 6%, how much would he have today? One million dollars or 10 million dollars? Not even close. Try $121 billion today. I'm not a finance expert, so I know there is inflation and if you can find a savings account that pays 6% I'm all ears, but compounding interest is like magic.
Most us us will likely not have the benefit of 524 years to watch our penny grow and blossom into millions, but a few pennies collected and placed in an interest bearing account may be quite a large sum if willed to future generations.
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A penny saved.......May be worth quite a lot more than a penny in the long term.
Will You Pick Up The Next Penny You See?
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