Simple Way to Get Rich – Reinvesting Your Earnings

Warren Buffett provides inspiration on how to get rich by reinvesting your profits. Together with his partner at that time, the magnate bought four more pinball machines and installed them in a barbershop using money earned from the first machine they had installed as their first investment.

Buffets story is not different from most other people who get rich whether in businesses or in their respective professions because they all pumped back their earnings into their ‘money-maker’ so as to achieve growth.

What are some of the reasons why reinvesting your earnings is the simple way to get rich?

Increased efficiency increases earnings
One way of cutting costs in business is by increasing efficiency. Elimination of redundancies not only reduces expenditure, but it also increases output or quality depending on the strategy at hand. This can be done through the acquisition of better tools, equipment or service providers.
Sustainability comes from knowledge
For the professionals, and also business persons, reinvesting in education is key to ensuring sustainability and to increase competence. Knowledge about your investment not only prepares you how to handle growth but it also prepares you on how to deal with emerging challenges. The process of becoming wealthy depend on how well you respond to both to ensure there is the continuous flow of earnings in the long-term.
Reinvesting frees up your time
Time is money. Earnings are profits, this shows that the investments are paying off. By reinvesting into the business, you are increasing the amount of input, and hence the output will correspond to the input. This means that if you invested $100 and it earned you $100 in profit in one week, reinvesting the profit will give you an investment of $200 and the earnings for the subsequent week will be $200. You would have reduced the time it took you to earn the extra $100 by at least a half. A repeat of the same will result in more money made in less period’s hence more free time to pursue other ventures.
Financial freedom
The most common ways of raising capital are debt financing or equity financing. These two come with their own disadvantages including loss of stakes in the case of equity funding and interest paid in the event of debt financing. Consequently, these sources of financing may strip away your independence in running the investment, and the risk of defaulting in the case of debt financing may add undue pressure that may affect our health or business. Reinvesting your earnings ensures that you remain financially independent and debt free, hence raising your investments financial health and hence a boost in your journey towards getting rich.
Reinvestment of your earnings provides you with a guaranteed path towards getting rich because it ensures that you build on your capital and your commitment to your investment.

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Watch: Why You Should Be Getting More Than Money From an Investor

On the new streaming show Entrepreneur Elevator Pitch, founders step into the Entrepreneur Elevator and have just 60 seconds to present their idea, product or business to a panel of investors. Whether an entrepreneur gets invited into the boardroom or sent back to the ground floor depends on what our experts think in that first minute. Here, we break down the lessons aspiring business owners can take away from each episode’s pitches.

There are many reasons entrepreneurs seek funding for their businesses. They may be ready to ramp up manufacturing and lack the resources to do so. They may need the capital to invest in getting the word out about the new product they’ve developed. Often, they simply need access to the many valuable resources investors have at their disposal.

For many business founders, though, investors bring a far more important asset to a startup. Most investors are experienced professionals who can bring experience and insight to a particular business. In the sixth episode of Entrepreneur’s new streaming series Elevator Pitch, we meet a group of founders who were desperately in need of this type of expert guidance. Here are three important lessons entrepreneurs can take away from the episode.

Investors are consultants.

First up in the episode were Jared and Karina Rabin, the husband and wife team behind Hang-O-Matic, a popular picture-hanging tool. At first these two drew “bait and switch” concerns. They spent most of their pitch talking about their already-successful product, and then suddenly revealed they wanted investment in a newer tool. Know that in these situations investors will usually want a piece of the original, successful product before considering anything else. They’ll probably send you packing otherwise.

So, the investors agreed to let the Rabins up to the boardroom, but if the investment wasn’t specific to the original tool, they weren’t interested. After all, the couple already made clear they had more than enough in earnings to fund their planned new product.

Fortunately Jared and Karina revealed quickly their primary interest was in finding a business partner who could advise them as they moved their company forward. That means they were just fine with investors taking a stake in the original product, not just the newer one. The investors were immediately interested, agreeing to serve as a team of consultants in exchange for equity in the company. This was a perfect fit for the couple, who were exhausted after years of working nights and weekends to build their company. The success of this pitch clearly shows that investors can be highly valuable advisors to their portfolio businesses. Be open to the idea that this could be just the relationship you need as well.

Conduct market tests first.

Dawn Maslar, author of the book Men Chase, Women Choose, approached the panel with a product called a Devotion Test. After sampling a man’s saliva, she said, the test can detect whether a man is committed to the woman he’s currently with. The panel was feeling a bit unsure about Maslar’s product but they were curious enough to invite her into the boardroom anyway to hear more.

Once inside the boardroom, Maslar failed to win over the investors. Their biggest objection was they simply weren’t convinced there is actual customer demand for her test. With a sales history or proven market research, she may have been able to debate this objection. She didn’t have that though. All she actually had her own opinion. The investors’ decision to opt out demonstrated the importance of having market data in place before approaching investors.

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Start Investing Now! 5 Ethically Correct Investment Apps For You

Investing is inevitably the wisest way to make use of your extra money. Even little amount of money in a gradual way can build for you a lot of wealth after the maturity period and raise your net worth. So, never miss out the opportunity to put your hard-earned cash on fruitful investments and today, with mobile technology you can start investing instantly. There’s a lot of investments apps realising more returns with lower savings in ethically correct ways. Further, many apps are growing out of the crude finance, trade and stock market concepts and help interested investors to get indulged in real stock market investments.

Here is a list of few popular and principled investments apps for the new-age traders and investors, and of course the common people to start uplifting their wealth portfolios.

Robinhood

If there’s one app that let users start involving in the investment game with needing a huge amount of money, then it is Robinhood. With it, users can buy and trade US-listed stocks as well as ETFs without paying any commission at all. Thus, it is a largely different and better than any other stock brokers who charge $10 for each purchase.

Stash

Besides an app meant for investments, Stash offers an educational guide to newbies on how can tactfully save money for higher returns. It provides a rulebook to the users on how to improve and manage their wealth portfolio. Fractional shares, minimum account balances, and value-based investments are some of its major features.

Acorns

Acorns is the best option for those who want to contribute on regular basis instead of lump sum one time investments. Users just need to link their debit or credit cards and it rounds up every transaction into the next dollar and invests the extra or “spare change”. It spends those in most profitable and well-managed ETF portfolios. The fees for the account are also minimal, i.e. $1 per month for balanced less than $5,000. Thus, Acorns help you save a lot with a just small amount of dollars and sometimes with a fraction of dollar.

Stockpile

It comes with a unique approach for the eager stock market players to buy and sell stocks. The users can buy fractional shares of any organisation or listed company through the app. With no monthly charges, it offers 1000 options for investments which include ETFs as well as single stocks. Specially designed for encouraging the young ones to involve in the stock market game, Stockpile facilities gifting of shares and transferring basket of stocks to other’s account.

M1 Finance

One of the great app enabling starters to build a portfolio to start trading for free. The users can create and maintain an active portfolio of both stocks and ETFs. While the users can create a diversified portfolio or a “custom pie” on their own through M1 Finance, they can also get fractional shares with it.

Conventionally, to indulge in investments one need a broker or at least a financial advisor to invest your hard earned dollars prudently. So, nothing is better than having one of these apps that offer a steady approach for investments and trading of stocks with or without minimal fees.

If you are interested into the apps business, then try coming out with one such investment app idea which will help beginners, adults as well as retired persons to allocate their cash flow wisely and grow wealth with time.

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The Importance Of Investing in A Dry Cabinet

If you are having trouble protecting your MSD(moisture sensitive devices) from humidity related damages, you are on the right page. In this article, we are going to shed some lights on the importance of electronic dry cabinets.

Basically, a dry cabinet is an enclosure that can keep electronic components from getting exposed to excessive moisture environment. People use these when they need to put their moisture sensitive products into low humidity environment.

We know that excessive moisture can damage specific products, such as PCB,IC,chips,optical products,precision instruments. Since moisture can have a negative impact on the device performance and cause malfunction in some cases, it’s important to keep them in a place where these problems won’t occur.

Without further ado, let’s find out why you may want to invest in a dry cabinet to meet your needs.

Importance of investing in a Dry Cabinet

Why do professional manufacturers use a dry cabinet to store their MSD? The short answer is, they want protection against fungus. As a matter of fact, fungus is the worst enemy of electronic manufacturing process. It’s not easy to remove fungus and it can also cause damage and great economic loss to the products.

The problem is that fungus and humidity can directly cause damage and cracking inside electronics and other moisture sensitive materials. This can happen if you store the electronics and don’t take any measures to protect it from unwanted stuff, such as fungus and humidity. As soon as fungus grows, you won’t be able to stop it from spreading fast.

If you think you can clean the fungus from PCB boards, you need to think again. The reason is that it can have a damaging effect on the small components on PCB boards and too much works with excessive labor cost,Therefore, we don’t recommend that you go this route.

Often manufactures who have access to dry cabinets end up storing their components in exposed workshops,Typically, fungus tends to thrive in these areas because of high humidity. Generally, these people live in areas where humidity remains high throughout the year.

Keep in mind that these can be a great choice for electronic and semiconductor manufacturers.Make sure that the equipment you have stored is free of dust and water vapor. And this can be done only if you invest in a good dry cabinets. These devices can be configured to control humidity and prevent it from crossing the line.

Bonus Tips:

If you want to store your MSD (moisture sensitive devices) into dry cabinets, make sure you choose an optimal humidity point,don’t keep the humidity level too low or too high.

Dry modules is also very essential,if the dry module lifespan is short,then you have to replace it once two years or three years,it will cause high cost and much time.

Often, it costs a hefty sum of money to get the fungus removed from your MSD. On top of this, the treatment may not be 100% effective. As a result, you may end up with long downtime.

Long story short, these are some of the reasons why you may want to invest in a good dry cabinet to store your expensive electronic equipment, such as cameras.

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Is Cryptocurrency the Future of Money?

What will the future of money look like? Imagine walking into a restaurant and looking up at the digital menu board at your favorite combo meal. Only, instead of it being priced at $8.99, it’s shown as.009 BTC.

Can crypto really be the future of money? The answer to that question hinges on the overall consensus on several key decisions ranging from ease of use to security and regulations.

Let’s examine both sides of the (digital) coin and compare and contrast traditional fiat money with cryptocurrency.

The first and most important component is trust.
It’s imperative that people trust the currency they’re using. What gives the dollar its value? Is it gold? No, the dollar hasn’t been backed by gold since the 1970s. Then what is it that gives the dollar (or any other fiat currency) value? Some countries’ currency is considered more stable than others. Ultimately, it’s people’s trust that the issuing government of that money stands firmly behind it and essentially guarantees its “value.”

How does trust work with Bitcoin since it’s decentralized meaning their isn’t a governing body that issues the coins? Bitcoin sits on the blockchain which is basically an online accounting ledger that allows the whole world to view each and every transaction. Each of these transactions is verified by miners (people operating computers on a peer to peer network) to prevent fraud and also ensure that there is no double spending. In exchange for their services of maintaining the integrity of the blockchain, the miners receive a payment for each transaction they verify. Since there are countless miners trying to make money each one checks each others work for errors. This proof of work process is why the blockchain has never been hacked. Essentially, this trust is what gives Bitcoin value.

Next let’s look at trust’s closest friend, security.
How about if my bank is robbed or there is fraudulent activity on my credit card? My deposits with the bank are covered by FDIC insurance. Chances are my bank will also reverse any charges on my card that I never made. That doesn’t mean that criminals won’t be able to pull off stunts that are at the very least frustrating and time consuming. It’s more or less the peace of mind that comes from knowing that I’ll most likely be made whole from any wrongdoing against me.

In crypto, there’s a lot of choices when it comes to where to store your money. It’s imperative to know if transactions are insured for your protection. There are reputable exchanges such as Binance and Coinbase that have a proven track record of righting wrongs for their clients. Just like there are less than reputable banks all over the world, the same is true in crypto.

What happens if I throw a twenty dollar bill into a fire? The same is true for crypto. If I lose my sign in credentials to a certain digital wallet or exchange then I won’t be able to have access to those coins. Again, I can’t stress enough the importance of conducting business with a reputable company.

The next issue is scaling. Currently, this might be the biggest hurdle that’s preventing people from conducting more transactions on the blockchain. When it comes to the speed of transactions, fiat money moves much quicker than crypto. Visa can handle about 40,000 transactions per second. Under normal circumstances, the blockchain can only handle around 10 per second. However, a new protocol is being enacted that will skyrocket this up to 60,000 transactions per second. Known as the Lightning Network, it could result in making crypto the future of money.

The conversation wouldn’t be complete without talking about convenience. What do people typically like about the their traditional banking and spending methods? For those who prefer cash, it’s obviously easy to use most of the time. If you’re trying to book a hotel room or a rental car, then you need a credit card. Personally, I use my credit card everywhere I go because of the convenience, security and rewards.
Did you know there are companies out there providing all of this in the crypto space as well? Monaco is now issuing Visa logo-ed cards that automatically convert your digital currency into the local currency for you.

If you’ve ever tried wiring money to someone you know that process can be very tedious and costly. Blockchain transactions allow for a user to send crypto to anyone in just minutes, regardless of where they live. It’s also considerably cheaper and safer than sending a bank wire.

There are other modern methods for transferring money that exist in both worlds. Take, for example, applications such as Zelle, Venmo and Messenger Pay. These apps are used by millions of millennials everyday. Did you also know that they are starting to incorporate crypto as well?

The Square Cash app now includes Bitcoin and CEO Jack Dorsey said: “Bitcoin, for us, is not stopping at buying and selling. We do believe that this is a transformational technology for our industry, and we want to learn as quickly as possible.”
He added, “Bitcoin offers an opportunity to get more people access to the financial system”.

While it’s clear that fiat spending still dominates the way most of us move money, the fledgling crypto system is quickly gaining ground. The evidence is everywhere. Prior to 2017 it was difficult to find mainstream media coverage. Now nearly every major business news outlet covers Bitcoin. From Forbes to Fidelity, they’re all weighing in with their opinions.

What’s my opinion? Perhaps the biggest reason Bitcoin might succeed is that it’s fair, inclusive and grants financial access to more people worldwide. Banks and large institutions see this as a threat to their very existence. They stand to be on the losing end of the greatest transfer of wealth the world has ever seen.

Still undecided? Ask yourself this question: “Are people trusting governments and banks more or less with each passing day?”

Your answer to that question just might be what determines the future of money.

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Data Analytics Can Help You Make Better Decisions

According to experts, if you want to achieve success as a business owner, you must have a deeper insight into customer behavior, operations, and market trends. And this is where data science comes to your help. You should analyze tons of data for this purpose. In this article, we are going to talk about the importance of data analytics and the way it can help you make informed business decisions. Read on to find out more.

You can get access to tons of data, but using technology to analyze the data is a complicated process. As the available data keeps growing, you can use analytics in order to get a better idea of the factors and dynamics that can have a great impact on your business.

As soon as you have collected the data from different sources, you can use data analytics to move further. Primarily, the role of analytics is to get a deeper insight into a lot of important factors. In other words, it can help you get a better understanding of the challenges you face. Plus, it helps you find solutions to the problems.

If you have a proper plan in place, you can use solid strategies for the implementation of your plan. With data analytics, you can enjoy a great deal of benefits. Given below is a description of some of the advantages of data analytics for your business.

1. Better Decision Making

As said above, data analytics makes use of tons of data. This data is processed and analyzed for an insight into marketing, finances, sales, trends, and product development, just to name a few.

Besides, this process provides a base to view the reports. And this helps your employees and senior management getting a much better understanding of the presented information. Based on the data, they can make better decisions.

2. Better Allocation of Resources

For the growth of a company, having a strategy is of paramount importance. Besides, this process can help you how you can use the resources to improve your business operations. Besides, it helps find out about any scope of improvement. It also enables automation to make sure the resources are used more efficiently.

3. Performance Improvement

For the growth of any business, performance is another important element. Using data analytics, you can improve this department and optimize your operations. Apart from this, it can help you improve your efficiency through insights into product innovation, price segmentation, and target audience.

In simple words, data analytics can help you determine a variety of problems that may negatively impact your business. Plus, it can help you find solutions and get a better measurement of the efficacy of the solution.

There is no doubt that data analytics can help you transform your business into a lucrative business.

In short, data analytics can help you make better decisions as a business owner. Therefore, you may want to benefit from it. All you need to do is have a solid plan and strategy in place.

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The Ultimate Guide to Choosing the Right Skincare Products

If you’re thinking about doing your own face cleaning, then you should consider all the factors that could make your face and skin break out or irritate. Your pores are like very large air passages that contain sebum and dead skin cells which should remain unaltered.

If you wash your face on a daily basis, then those pores may become clogged, which can lead to acne breakouts, blackheads, and other blemishes. You have to make sure that you use proper cleansers and soap that is formulated for your skin type, especially if you have oily skin. If your pores are too big, then it’s possible that they will be too rough for soap to clean.

If you have ever had acne breakouts, then you know how sensitive your skin is. When it comes to cleansing, make sure that you are using the right cleanser and products that are designed for your skin type. The best cleansers will be gentle enough to be used every day but also effective enough to eliminate the dirt and oil that can be deposited by dead skin cells.

Those with big pores have more difficulty in cleaning their skin than those with small pores. A washcloth with soap can be very damaging if it’s used with one’s fingers. As such, you will want to use a soft brush with which to clean your face.

If you have acne, you may also suffer from dry, itchy, and watery eyes. There are various home remedies that can be found online which are quite inexpensive and still work just as well as a chemical-based treatment.

One of the best ways to prevent acne is to choose products that use natural ingredients. These products should be formulated in such a way that they won’t irritate your skin. Some of the most popular ingredients include tea tree oil, witch hazel, and aloe vera.

Once you’ve made your selection, make sure to test the product to see if it’s safe for your skin. In addition, you should make sure that the ingredients you’re choosing aren’t harmful to your skin. The safest and most effective products are those that are hypoallergenic.

You should be careful not to choose a cleanser that contains tea tree oil because this can cause dryness. You should choose products that contain ingredients such as honey, bentonite clay, or even baby powder to cleanse your skin.

When choosing an exfoliating product, it’s a good idea to make your own facial cleanser at home. Exfoliation removes dead skin cells, which leave your skin feeling smooth and fresh. Make sure to choose a gentle exfoliating substance that won’t irritate your skin.

If your skin is really stubborn, then you may need to consult with a dermatologist. After doing some research, make sure to find out what your options are when it comes to treating acne. If your doctor doesn’t feel that your skin is in need of any treatments, then there is little reason to continue your search.

Always make sure to choose a gentle cleanser and a light toner, followed by a very light-bodied, light-weight facial cleanser. Follow this up with a light-toned down moisturizer, especially if you have sensitive skin.

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Friends, Best Friends, Wedding and Stranger

The story is about 2 friends we met on the cell phone and start chatting. We both don’t know that we attached too much and this will make us hard to live without each other.

Me and my best Friends. She was a girl. Roon and I are the same age and we fought so much in the starting days. We never miss a chance to tease each other. Finally, we become good friends and spend a lot of time together. She lives near to my house. We meet, eat and spend our lives joyful. We are very close to each other. We both love someone she loves her cousin and I love someone other. We both share their a lot of time and also share each and everything happened about the day. Finally, her cousin came and she engaged. She introduces me to her cousin as a best friend.

One day she argued with him about something and ready to suicide for him. I managed somehow and relax her. Later we will close so much.

After 1 year she married him. But she doesn’t invite me to her wedding and making the excuse that she could no invite her because she can’t see me like this. She doesn’t like don’t bye’s.

We talk for almost 2 days before her wedding. Continuously!!. She cried a lot and we memorize each moment we spend together. She is like an angle for me in my life. Still, I missed her a lot. After her wedding, she contacts me only 1 time because she leaves the country really soon.

I was like shocked. When she said she moved to Dubai with her husband. She moved in 4 months and we never ever talk again yet.

After her wedding, I get married too but co-incidence I choose the same days for the same month which she chooses for her wedding. I thought what a coincidence.

Now she having a baby girl. I have her Facebook id for the last 2 years but still, I do not contact her. I have a baby boy too. And happily married to my loved ones. But still, there is something in my heart that I missed for 2 years. I don’t know if she could feel the same feeling as me.

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Investing in a Volatile Environment

The volatility that we recently experienced in the market is very troubling to some investors. Unfortunately, those investors who hit the panic button and sold off are recognizing large losses in their portfolios only to turn to investments that are perceived as safer places to invest.

The fact of the matter is that we invest our money to earn long-term rates of return that will exceed the rate of inflation and help us preserve our purchasing power. Historically, cash has been the worst place to invest over the long term.

Losing Investment Capital in a Volatile Market
According to Fidelity Investments, investors who sold their 401(k) holdings while the market was crashing between October 2017 and March 2018, and then stayed on the sidelines, have only seen their account values increase by about 2%, including contributions, through June of 2019. This compares with those who held on and saw account balances bounce back by around 50%. During periods of extreme volatility, wealth managers will often tell clients to stay invested rather than sell and lock in large losses in a seesaw market.

Building confidence in your strategy is a way to keep from making the mistake of buying high and selling low. Having the mental conviction to tell yourself that you have a carefully planned portfolio of high quality investments goes a long way toward getting through the toughest days of market volatility. If you are unsure of how to select high quality investments, consult with an financial manager or registered investment advisor.

The question is; how do you reach that state of mind? It’s not easy if you are the type of person that tends to get knots in your stomach when the market drops. We outline some steps below that might be able to increase your level of confidence.

Conquering the Fear of Volatility
One step you should take to better handle volatility is to make sure you have adequate cash reserves for a financial emergency that might arise. This way you are not depending on your portfolio for unforeseen expenses and your anxiety level will be lower, knowing that you don’t need to sell your investments when they have declined in value.

Make sure you have a mix of investments that fits in to your risk tolerance and time frame. This can be accomplished by considering how you have felt when past market declines have occurred. Your wealth management advisor should be able to provide you with a thought provoking questionnaire that will give you a score when completed. The score on the questionnaire will have a corresponding asset allocation that you can use to determine the split you will have between stocks, bonds and cash.

Once your allocation has been determined, stick with it. It is a good practice to reallocate your assets on a regular basis to keep your risk level the same. This means that a portion of those investments with better performance will be sold (sell high) to purchase in order to purchase shares in those that have not performed as well (buy low).

Other ways to hedge volatility can be through the use of options. Two simple strategies can be applied. One is the sale of covered call options against underlying stock or ETF positions. In this strategy you (the seller of the option) collect money from a speculator (the buyer of the option) in exchange for an agreement to sell your stock only if it reaches a specified price (higher than where it trades at the time of the transaction). The option must hit the price target (strike price) within a predetermined time frame (expiration date). If it does not, the contract expires you keep the money paid and are free to sell more options against that stock position.

The other strategy is to simply buy a put option. This gives you the right to sell your position in a stock or ETF that you own at a predetermined price within a predetermined time frame. For this privilege you will pay money (a premium) to the potential buyer (seller of the put option) of your stock. This strategy should be implemented in periods of low volatility, as the cost of the transaction will rise as markets begin to fall.

Buy With Conviction
Let’s say you’ve owned a stock that has done well over time. The stock has had a history of increasing revenue, profits and dividend increases. It seems like the stock is usually going up when the market goes up, only now there has been a big selloff in the market, and the stock has dropped dramatically due to market conditions. It may be time to do some homework on the company and make sure that the drop is due to just a generally bad market. If it that turns out to be the case, maybe it is time to buy more of the stock. Great companies often go on sale in market declines, only to have dramatic upturns once the market decline is over.

Speak With Your Wealth Management Team
You should also consult with your financial manager when markets are volatile. Investment professionals are in the business of understanding what is causing the market volatility and can often provide some insight. Often times your investment professional can help ease your anxiety and remind you of your commitment to your allocation and financial goals.

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The Investment Mistake Otha Anders Made

In 2015, an elderly Louisiana gentleman cashed in at a nearby bank, a truckload of 55-gallon plastic water jugs of pennies that he had collected over the previous 45 years. After the last penny had been counted, Otha Anders received over $5,130 as the total amount for his pennies. That’s over 510,000 pennies. To the general public, this news probably sounded wonderful, but to every American numismatist who collects and buys coins for fun and profit, Anders lost a lot of money.

According to the News-Star of Monroe, La., Anders referred to each of his pennies was a “God-given incentive reminding me to always be thankful.” In Anders case, however, a “penny saved” may be more than “a penny earned.” Many of those that he cashed in to get instant money, would have been worth more money.

Since Anders began his penny hoarding in 1970, he would have picked up many “wheat” pennies that the Mint struck between 1909 to 1958. Even today, there are still many “wheat” cents in penny rolls and circulating change. When he started saving in 1970, he would have found many wheat cents in great condition. Over the last 45 years, most of each of those pennies would become more valuable than one cent.

According to the “Guide Book of United States Coins 2015” by R.S. Yeoman, wheat cent values ranged from $.10 in “good” condition to several hundred dollars in “almost” uncirculated condition. Also, the guide records a few extremely rare pennies that were worth up to $5,000 in uncirculated conditions. However, it would be impossible to estimate how much the numismatic value of the entire collection might be; each coin would have to have been examined by reputable coin dealers who could have helped him sell his collection, but it’s easy to imagine Anders would have made over $20,000 if he had had the patience to get them evaluated.

In addition to numismatic value, there is a precious metal value for the price of all of the coin’s weight in copper. All American copper coins struck until 1981 contained 95% copper. According to the “InvestmentMine” website, in 2015 the average value of copper was $2.86 per pound. All of Anders’ pennies together weighed over 2,800 pounds. So, if he picked out all of the coins, we’d multiply 2,800 pounds and 2.86 the sum in copper would have been a total of roughly $8,000. However, a conservative estimate of the number of pennies made of copper was 75%, we’d get about $6,000, which is about $900 more than he received.

Although Anders received over $5,100 for his enormous collection, he could have gotten much more if he took the time to get all of them evaluated by a trained numismatist. However, the good news is that if you live in or near Louisiana, you could buy many rolls of pennies from local banks and probably find some of those higher valued wheat cents.

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