Inspired by my son: Would you rather get one million dollars/year in quarters or get one hundred thousand dollars/year put digitally into your account?
My bank has a coin counter machine so it's not a big deal to dump in change and put the balance in my account.
Duh, the $1 million 🙂
I can switch 'em to cash, give some to my sister for her laundry, I can save for stuff, I can even put it all in a bag, haul it off to the bank and have the teller count it out. Make her earn him/her salary. They'd be cussing me out for weeks. I know I did my job 😄😄😄
Tellers don't count coins anymore. They have a coin machine do it. And they will charge you for it, if they even accept the coins in the first place.
There are companies that will take all the coins, count them, and give you into cash.
Hmm.. The weight added to the car, to deposit in the bank would be a lot on gas, so you're probably better off hiring a company to move it for you. That's a lot of trips. You'd still end up with more though, I imagine..
For an extra $900,000/yr I could hire someone to wrap and deposit quarters for me.
So, do I apply here or in person?
Digital. The hundred thousand would be way more than I've even had to live on annually, even allowing for taxes. The only thing I would be likely to do with more money is find ways to give it away. That would be fine with me, but finding people or organizations to deal with all the damned quarters sounds like it would take over my life.
Susan, you are special. Not many can live live like you have.
That was a compliment by the way.
It's a disease.
I'm allergic to money, just like I'm allergic to video.
If I had $1 million/year of quarters I would build a house out of the quarters (carpet included) and resell my 2,000 sq ft house, but I would require them to pay in pennies. I would build an exact replica of my original quarter house, but now with the pennies, and take advantage of the massive dimension:value ratio of quarters and pennies. Same house, one quarter of the price!
Or maybe a million quarters of the price . . .
A hundred thousand is enough haha
But that is a temptingly large amount of laundry I could afford...
I'll take the coin and hire someone to put it in rolls and take it to the bank.
They might already be in rolls. The question didn't specify. I assume they are
Exactly what I was thinking!
Nope that's too easy. A large dump truck delivers the quarters once a year and drops them in a container (think silo) that I graciously am allowing you to have.
Hehe, nice twist, @ronderman
My quarter roller guy is going to be busy
I'll deal with the inconvenience... I'd love to watch people's eyes pop out as I started carting quarters in to my credit union to dump in the change machine.
Dumb question. You're basically asking would you want a million dollars or $100,000. Who cares in what form. I'll take it in pennies
How would you store it? Someone calculated the weight to be in excess of 50,000 pounds. That means if you took an equal amount of coins to your bank EVERY WEEKDAY, you would have to Carry in almost 200 pounds to the bank. 5 days/week 52 weeks/year. (Or pay someone to do it. )
You would have a million dollars. You can do anything lol. I've transported half a million dollars in coins before, it's not hard.
Ronderman, this is the best question I've seen in a long time! Thank you!
My son says you're welcome.
alkie, you've transported $500,000 in coins ?
Yes, silver coins. Small pallet only like 2000 pounds.
How big a truck do I need?
If you divided up the quarters equally to go to the bank every weekday of the year, it would total in excess of 15,000 quarters/day which should be a little less than 200 pounds a day.
Pick up should be fine...
That daily trip to the bank would be a pretty good job! Intriguing thought, stop at a strip club with only quarters!
For $900,000 One could buy a pretty good counting machine to handle 45,562.5 pounds of quarters!
Read it wrong. A million dollars in quarters is 50,625 pounds. Still would buy a pretty good mechanical separator & wrapper!
I'd be swimming through the quarters like Scrioge McDuck!
Do I get to pay the taxes on it in quarters. That would be awesome!!
😂like when you owe your friend a dollar and then give it to him all in pennies, except even better.
Oooohhhh. Could I change them into pennies to pay my taxes. That would be great!
It is not that big of a deal. It would cost me a few thousands of dollars to change the coins.
$900,000 convenience fee for the quarters? Uh no
If I pay someone $100,000/year to handle the quarters (which is pretty generous for that job), that still leaves $900,000/year for me.
I came to say the same
Four quarters per dollar. That's four million quarters a year. Quarters weigh an average of 5.67 grams. Altogether, that's approximately 22,680 kilograms, or (quite conveniently) 50,000 pounds.
That's a lot.
I'd take the 28 tons of quarters and turn it into a month-long project to get it squared away. A ton a day! You can do that with a Toyota Tundra. I checked.
I'm taking the million, even if I have to roll them. That said my bank (credit union) has a coin machine that the members use for free, so I just have bring them in if they aren't given to me in rolls.
A question came up in the discussion of this. How often are the quarters delivered?
I say once a year.
By a large dump truck.
But you have the facilities to store the 4,000,000 quarters.
I'm still taking the quarters.
I would happily take a vacation or 2 during the year where my job was to roll quarters
Feed it into an ATM.
Digital, you can't exchange coins into GBP £ 😉
Yeah, you get screwed in this situation. 😂
Lmfao that's trash. What a retarded law
It isnt a law, its the banks, they don't want foreign coins
I choose the million.
By digital do you mean bitcoin, or can I withdraw currency from my account?
However you prefer. The question was a savings account because I don't do Bitcoin.
I feel everyone's forgetting about the part where they get taxed for getting such a large amount of money that soon.
Realistically, with a million dollars, you could just hire somebody to handle the money for you. I doubt something like that would cost over 900,000 dollars a year
Quarters and then I'll pay someone $50,000 to sort it out and take it to the bank for me, with my supervision of course.
Where exactly would I put 25 tons of quarters? In the yard? My house's floor wouldn't be able to support it. The cost of dealing with that and all the red tape associated with cashing it in isn't worth it. I didn't want to be a quarter counter when I grew up.
You can always buy a smelter, if you don't need the money.
Melting down money is also illegal
If I melt it all down and sell the metal at current market prices, I would have... $113,400.
Given the cost of melting all those coins, you'd be better off going digital.
Quarters pain in the butt.
I like this qustion. But have to ask, are the quarters rolled, or just loose?
In my mind, they are delivered to you in a lump sum not rolled. I will give you the facilities to store the quarters while you roll them though.
A million is a million. I'd find some way to lug it to my bank and let them deal with it. A minor problem.
You would lug 5200 pounds of copper to the bank every day?
You would need to hire a crew.
Well, he didn't say in how many installments I'd receive the money. But if necessary, I'd hire someone to handle it. I don't see it as a problem at all.
You would hore someone to count 4 million quarters and carry them to the bank each day?
How many people would it take to count 4 million qurters in 1 day? That is the question.
However many it would take, it would leave me with a comfortable surplus.
4m quarters/year. It comes to around 15,000 quarters/day if you take weekends off.
I'll go with a million