Man pays $6500..00 CC bill with Pennies

[harley1]

to bad he didnt talk more about how he got so many pennies

http://news.yahoo.com/video/hamptonroad ... s-24532069

[HPMBTT]

I was just about to post this, but with a different link. Anyway...

Plus it's here in CA, soooo...hey, Hoard, was it you? Did you just pay off a bill or something?

http://www.fox11online.com/dpps/news/st ... gr_3747535

[PennyPauper]

If a debtor attempted to pay a debt with legal tender and receipt is refused,and can prove it was refused,would not the debtor be relieved of any obligation to repay that portion of said debt?
The U.S. Mint makes the coins and the federal reserve buys them at face value.They circulate with paper money which states on it legal tender for all debts public and private. Unless a bank or business states they only accept certain types of payments they would have to accept a repayment of a debt in any legal tender.
I know the laws regarding money in this country are crazy,the whole economy is based on debt,but I would think if payment was refused by a banking establishment which deals in coin everyday,you would have a good case in front of the right judge on the right day.
At least this person is paying his debts,not looking for a bailout or handout.

I do wonder how he got so many pennies? I think I spotted some coppers in there. I would not be surprised to find out a RC member had a hand in this. Looks like all brinks wrapped rolls though,something doesn't add up.He said they refused at first because they were not rolled,now they are. Who has the clear plastic roll wrapping machine? I believe that's a patented machine that only brinks has?
He must have been really mad at chase.

[HoardCopperByTheTon]

It wasn't one of my Chase branches.. they always call me when someone brings in a few pennies. We were discussing this at work today.. and I'm asking.. "Where was it?" Hopeing either to go get them or direct a fellow member to the branch they got deposited in so that member get have a wonderful drive-by and get a few pennies to sort. Seems Mira Mesa is in the San Diego area.. about 400 miles south of me.

He got them same place we all do.. at the bank. I noticed the Brinks wraps also.. just like PennyPauper. He intentionally went out and bought all those pennies at his other banks to try to punish Chase for charging such high rates on his credit card. He was really testing the shocks on that van.. that is a 2 ton load.

He may have his satisfaction though.. perhaps he knew that Chase corporate office requires the local branch to remove the pennies from the rolls prior to shipping.. or they charge them an extra fee.

[PennyPauper]

Only a 6-7 hour ride Hoard. Just think of all that copper

[HPMBTT]

Well, if a trip to Canada isn't worth it for Ryedale sorting for 99% Ni...hmm...maybe a trip to San Diego for copper is??

[HPMBTT]

Did the math (couldn't resist).

At 650,000 pennies ($6500), and at an average 20% Cu here in Commie-fornia, that's 130,000 ($1300) in coppers. At 1.7x face, that's $2210 before shipping & expenses. Let's assume six hours drive each way (459 miles one-way for 15.3 gallons of gas, assuming 30mpg), plus two hours to load/unload. Estimate weight is 4012 pounds (650K * 2.8g avg /453.6).

Expenses are:
Gas $121 (assuming 30mpg)
Shipping to customers est $200

Estimate profit is $2210-$1300 face-$200 shipping-$121 gas =$589. For 12 hours of work (not including time it costs to package/ship), it's not worth it. Of course, it would be more beneficial to either have a local SD Realcent member pick it up, or even better, to have it shipped on a pallet up here in the Bay Area (saves 12 hours driving+gas). Then again, to send 3582 pounds on a pallet or two (would probably cost another $500) isn't worth it either. You can't win.