I pick up pennies

[Jbone]

Yeah, I do. And I'm not ashamed of it. I am a manager at a retail store and I see people literally drop (on purpose) change on the floor after they get their change back. I wait until they leave and I pick it up. Some days are bust and I get nothing. Most days I take home anywhere from 10-25 cents. My all time high was $1.73 in change.

The stockers I work with are well known for throwing pennies and nickels around in the back room. What do I do? I pick them up. I even talked to a few of them. I basically told them if you are going to throw your money out might as well give it to me.. To my surprise a few handed me their change from their pockets, stating they don't like coins and would love to get rid of them.

So if you do the math.. Let's say I find 15 cents a day on average. And I work 6 days a week.

6x52=312
312x.15=46.8

I take home for the year about $50 in change. Really not a whole lot but that's $50 I wouldn't have had.

Why are people so dumb?

[frugalfarmwife]

You're not the only one, I also work retail and constantly scan the floor, I usually find about five cents a day. I've also got hubby looking and he's constantly finding money at work around the pop machine, in the crew vehicles and on even on the locomotive floors!

We average about two bucks a month, sometimes more. We specifically pay this found money on the mortgage, every bit helps to get ahead.

I also have a collection container at work for aluminum cans and am constantly stopping people from throwing them in the trash.

They think I'm a bit quirky, and they're right

[cooliemae]

I work at a school and my students are constantly dropping their pennies/nickels on the ground. It bothers me that they have that little respect for the mighty penny, but the more they drop them the more pennies I have....

[disneysteve]

I have picked up coins since I was a little kid. I used to actively seek them out. Somehow I learned early on that pay phones and vending machines often had coins left in them. When we were at the mall or anywhere, I would go up to every phone and machine, press the coin return lever, and very often get something for my troubles. Sometimes it was just a nickel or a dime but occasionally I hit the jackpot and I'd get a handful of change, even a dollar or more on occasion. It was pretty exciting to an 8 or 10 year old kid.

Today, I no longer scavenge all of the vending machines and pay phones are extinct but I still pick up coins on the ground. I'm a runner and one thing that always drives me crazy is when I see coins on the ground while running. I generally don't want to stop to pick them up and I often have no pockets anyway though I have been known to pick up a coin and slide it in my sock.

It just seems wasteful to me to drop money on the ground and leave it there because it's "only" a penny or "only" a dime. I suspect that the people who do that are probably not good with their money overall. They probably don't value money as much as they should.

[creditcardfree]

If I see coins I will pick them up. I taught my daughters to do the same. My college age daughter often reports finding money on the ground around campus.

[rennigade]

I think a lot of people worry about what others will think if they stop and pick up change on the ground. They're afraid of being judged.

I pick up change all the time. If its inconvenient or at a place that if I stop I will impede food traffic then I wont.

[msomnipotent]

I don't bother. That is what my daughter is for.

[Nutria]

I read an essay which demonstrated that it isn't economically worthwhile picking up pennies. Nickels too, IIRC.

Dimes were definitely worth it, but not by much.

[disneysteve]

I read an essay which demonstrated that it isn't economically worthwhile picking up pennies.

Based on what? There's zero cost to me bending over and picking up a coin. I'm not wasting time that would be used for something more lucrative. Heck, if you look around at the average American, they need to be bending over a lot more. The exercise certainly wouldn't hurt them.

[Nutria]

Based on what? There's zero cost to me bending over and picking up a coin.

There's a time cost. You could have more quickly gotten where you were going.

I'm not wasting time that would be used for something more lucrative.

Economists think that every activity has a value and opportunity cost...

Heck, if you look around at the average American, they need to be bending over a lot more. The exercise certainly wouldn't hurt them.

IIRC, the article even factored in the calories spent bending over.

[SavingBucks]

I also have been picking up change for years. Once in awhile I have been lucky and found $20 bills! Some observations here in so Cal -- less change than there used to be; and I noticed that I find more change in lower income areas. I went to a CVS in a lower income area and at the register on the floor were 3 quarters, 2 dimes, and a nickel! Lots of people in line, too! But it did not hurt my back to pick them up...........

[disneysteve]

There's a time cost. You could have more quickly gotten where you were going.

Economists think that every activity has a value and opportunity cost...

IIRC, the article even factored in the calories spent bending over.

Those economists need to find something better to do with their time.

So if I'm out taking a walk around my neighborhood and encounter money on the ground, they think I should just leave it there so that my walk lasts 30 minutes and not 30 minutes, 5 seconds. I'll have to disagree with them on that point.

[Nutria]

Those economists need to find something better to do with their time.

Almost certainly...

So if I'm out taking a walk around my neighborhood and encounter money on the ground, they think I should just leave it there so that my walk lasts 30 minutes and not 30 minutes, 5 seconds. I'll have to disagree with them on that point.

If your time is worth $50/hour (about $100K/year), then that 5 seconds to pick up $0.01 has an opportunity cost of $0.07. (So, don't pick up nickels either.) Only at the Federal minimum wage would you break even in that 5 seconds to pick up a penny. The nickel break-even point is $37.50/hour...

[disneysteve]

If your time is worth $50/hour (about $100K/year), then that 5 seconds to pick up $0.01 has an opportunity cost of $0.07.

Actually, my working time is worth a whole lot more than $50/hour. However, unless I'm out picking up spare change instead of working, that's irrelevant. If my 30 minute walk lasts a few extra seconds, that may just mean I watch 5 fewer seconds of TV when I get back home.

[Nutria]

Actually, my working time is worth a whole lot more than $50/hour. However, unless I'm out picking up spare change instead of working, that's irrelevant. If my 30 minute walk lasts a few extra seconds, that may just mean I watch 5 fewer seconds of TV when I get back home.

Five seconds less ESPN? The horror! The Horror!!!!