Modern Gobsek: in a house in California found a cache with a million pennies

A California man was cleaning his late father-in-law's house when he discovered a stash of a million pennies. The edition told in more detail New York Post.

Photo: IStock

Real estate agent John Reyes discovered a bountiful collection of $10 worth of copper coins in a basement under a home in Los Angeles, California.

The first clue to the treasure came when he and family members who helped clean up found some coins in torn paper rolls.

The relatives then found boxes and dozens of bank bags filled with coins.

They determined that it was copper and not zinc, which the US switched to in the early 1980s.

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At first, the family intended to simply exchange them for more usable cash, but then realized that this was not profitable.

“We have to take this to Coinstar,” said Reyes, who lives in Ontario, California. “We didn’t want to pay 8% and there was no way we could take it home to Ontario.”

Local banks refused to take the found coins.

“I don’t even have that much storage space,” Reyes relayed the words of one bank manager. Don't bring them here.

In the end, Reyes moved the pile of money to his home in Ontario. It's over 35 miles (56 km) from Los Angeles, so it wasn't easy.

“Literally bag after bag we had to carry them out of the basement, up the stairs and load them into the car, it took several hours,” Reyes said. “It took a whole day just to get them out.”

The banks closest to his house also did not want to buy the found coins. The clerks offered to look through the collection to see if they were worth more.

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Reyes' father-in-law, Fritz, had a habit of buying copper pennies, knowing that they would rise in value over time.

However, the clan is not interested in spending a lot of time on the project, so Reyes posted the coins on the OfferUp resale site asking for $25.

While this is more than double their currency value, “the value lies in the uniqueness,” he explained.

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