theJ Posted May 8, 2019 Share Posted May 8, 2019 10 minutes ago, Forge said: Great answer Wouldn't that be converting it? Though you could argue that spending it is just converting it into goods. Link to comment Share on other sites More sharing options...
LETSGOBROWNIES Posted May 8, 2019 Share Posted May 8, 2019 28 minutes ago, pwny said: no they don’t have to accept it. Yep. It’s no different than some places not accepting large bills, the business determines those things for themselves. Link to comment Share on other sites More sharing options...
Forge Posted May 8, 2019 Share Posted May 8, 2019 3 minutes ago, theJ said: Wouldn't that be converting it? Though you could argue that spending it is just converting it into goods. He kind of blew up the game, but I was thinking of that as a market transaction; IE, someone was actually buying the copper from pre 1982 pennies if that was all they were. So I was thinking of them as copper more so than pennies in that scenario Link to comment Share on other sites More sharing options...
pwny Posted May 8, 2019 Author Share Posted May 8, 2019 Would buying gift cards be considered converting? Link to comment Share on other sites More sharing options...
Forge Posted May 8, 2019 Share Posted May 8, 2019 Just now, pwny said: Would buying gift cards be considered converting? I don't think so. You have to take the pennies in to the store to get the gift cards, which is kind of the point of the exercise- you have to spend the pennies. Link to comment Share on other sites More sharing options...
ramssuperbowl99 Posted May 8, 2019 Share Posted May 8, 2019 4 minutes ago, Forge said: He kind of blew up the game, but I was thinking of that as a market transaction; IE, someone was actually buying the copper from pre 1982 pennies if that was all they were. So I was thinking of them as copper more so than pennies in that scenario It's illegal to melt pennies down into copper for this reason. The answer is pennies. You could auction said pennies to the highest bidder and there is some bank out there that would pay a lot more than $50k to get you currency that's usable. 1 Link to comment Share on other sites More sharing options...
pwny Posted May 8, 2019 Author Share Posted May 8, 2019 Just now, Forge said: I don't think so. You have to take the pennies in to the store to get the gift cards, which is kind of the point of the exercise- you have to spend the pennies. Okay. So I take them in and dump them into a Coinstar machine. There’s 0 fees when turned into a gift card. $500k in Amazon purchases, here I come. 3 Link to comment Share on other sites More sharing options...
Forge Posted May 8, 2019 Share Posted May 8, 2019 Just now, ramssuperbowl99 said: It's illegal to melt pennies down into copper for this reason. Did not know this. Good info Link to comment Share on other sites More sharing options...
ramssuperbowl99 Posted May 8, 2019 Share Posted May 8, 2019 2 minutes ago, Forge said: Did not know this. Good info That's the type of practical, day-to-day info I provide. Link to comment Share on other sites More sharing options...
pwny Posted May 8, 2019 Author Share Posted May 8, 2019 5 minutes ago, pwny said: Okay. So I take them in and dump them into a Coinstar machine. There’s 0 fees when turned into a gift card. $500k in Amazon purchases, here I come. And this would be my first purchase... https://www.amazon.com/dp/B01BHAU9AC/ref=cm_sw_r_cp_api_i_9Z20CbJ55VV2X ...only so it would make taking the money to the Coinstar every time I needed a refill a little easier. Link to comment Share on other sites More sharing options...
Heimdallr Posted May 9, 2019 Share Posted May 9, 2019 9 minutes ago, pwny said: Okay. So I take them in and dump them into a Coinstar machine. There’s 0 fees when turned into a gift card. $500k in Amazon purchases, here I come. Have fun hauling those 300,000 pounds of pennies to a machine Link to comment Share on other sites More sharing options...
pwny Posted May 9, 2019 Author Share Posted May 9, 2019 3 minutes ago, Heimdallr said: Have fun hauling those 300,000 pounds of pennies to a machine I don’t need $500k at once, man. I’m more than capable of carrying 60 pounds every time I want $100. 1 Link to comment Share on other sites More sharing options...
MrDrew Posted May 9, 2019 Share Posted May 9, 2019 Roll pennies. Take pennies to the store. Buy prepaid credit cards in the highest amount possible. Link to comment Share on other sites More sharing options...
Bonanza23 Posted May 9, 2019 Share Posted May 9, 2019 36 minutes ago, MrDrew said: Roll pennies. Take pennies to the store. Buy prepaid credit cards in the highest amount possible. You could have someone else do it for you for literally pennies on the dollar. Link to comment Share on other sites More sharing options...
ET80 Posted May 9, 2019 Share Posted May 9, 2019 2 minutes ago, Bonanza23 said: You could have someone else do it for you for literally pennies on the dollar. I have young kids - so I can do it at no cost to me. 1 Link to comment Share on other sites More sharing options...
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