The Investment Mistake Otha Anders Made

Linn In 2015, an elderly Louisiana man donated money to a nearby bank for 55 gallons of plastic water tanks he had collected over the past 45 years. After the last coin was counted, Ota Anders received more than $ 5,130 in total. That’s over $ 510,000. This news may seem strange to the general public, but for every American numerator who collects and buys coins for happiness and profit, Anders has lost a lot of money.

According to the Monroe News-Star, La. , Anders referred to each loan and said, “I always thank God for the encouragement.” In Anders’ case, the “saved coin” may be more than the “one coin”. Many of those who gave money to get money quickly had more value.

Ander started saving the money in From 1970 to 1909 to 1958, Mint was able to collect many “wheat” coins, and there are still many “wheat” coins in penny rolls and indirect change. Linn When he started saving in 1970, he could earn a lot of coins. Over the past 45 years, each coin has been worth more than a penny.

According to RS Yeoman’s Guide to the United States Coins 2015, the value of the wheat coin is in the “good” state, ranging from $ 10 to “hundreds”. It also records very few coins worth up to $ 5,000 in countless cases. However, it is impossible to estimate the numerical value of the total set; Each coin had to be inspected by reputable coin dealers who could help sell it, but it is easy to imagine that Anders would have made more than $ 20,000 if he had had the patience to evaluate it.

In addition to the numerical value, there is a precious metal that is worth every penny of copper. Until 1981, 95% of all American copper coins were made of copper. According to the InvestmentMine website, the average copper price in 2015 was $ 2.86 per pound. All Anders coins weigh more than 2,800 pounds at a time. So if he took all the coins, we would multiply 8 2,800 and the total in copper could be approximately $ 8,000. However, the conservative estimate of the number of copper coins was 75%, which is about $ 6,000, which is more than the $ 900 he received.

Although Ander received more than $ 5,100 for the huge collection, he could have earned much more if he had taken the time to be evaluated by a trained numerologist. But the good news is that if you live in or near Louisiana, you may be able to buy more bundles from local banks and perhaps even more expensive wheat coins.