Consumer Payment Card News

Pennies Galore

An Alaskan man is slowly becoming penniless after unloading tons of coins into a green Coinstar machine in an Anchorage supermarket. It took fifty-seven year old Sylvester Neal nearly 27 hours to cash in 792,141 pennies which weighed more than five tons. Since 1991, Coinstar has processed more than $3.8 billion in coins weighing 298,000 tons for nearly 125 million customers. Coinstar says it takes the average person 1 hour to count and wrap $13.50 worth of pennies. The Coinstar machines count coins at the rate of 600 per minute. The company maintains a network of more than 8,800 coins-to-cash machines nationally. It is estimated that there is $7.7 billion in coins sitting in people’s homes. The approximate value of a coin stash is between $30-$50. For more information visit http:www.coinstar.com. Consumers can also visit www.findcoinstar.com or call 1-800-928-CASH to find the nearest Coinstar machine.

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