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 Replies: 28 / Views: 2,115 |
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Moderator
 United States
54280 Posts |
A local grocery store chain gets 100 million cents for 200 million cents ($2 million), and assures that money is spent at their stores. LINK TO ARTICLEShow your financial support of the Coin Community Family (click here)See my topic on Mexican Numismatic Medals (click here) |
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Bedrock of the Community
United States
24878 Posts |
There's no shortage of cents. It just takes a bit of incentive to get people to empty their coffee cans, jugs, jars, etc.
Inordinately fascinated by bits of metal with strange markings and figures
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Pillar of the Community
United States
682 Posts |
This is a genius move by the grocery store even if there isn't a penny shortage. People will try to make a few extra bucks but while doing so most of them will spend a bunch of money on groceries. Probably a whole lot more than the amount gained from turning in pennies.
Edited by Ynnad
11/02/2025 11:08 am
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Bedrock of the Community
United States
19930 Posts |
They are FOOLS, if I had one near me I'd be dumping every single day to double my money.
Most places around me are already rounding in the customer's favor, sometimes to the nearest dollar. The 2022 Inflation Creation Act passed by CON-gress made coins worthless in our society today.
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Pillar of the Community
Canada
5391 Posts |
Get Rid of the stupid things !
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Moderator
 United States
54280 Posts |
They paid 181 x 2¢ ($3.62) per pound.
This is the zinc penny weight.
Show your financial support of the Coin Community Family (click here)See my topic on Mexican Numismatic Medals (click here) |
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Pillar of the Community
 United States
4587 Posts |
Supermarkets do this every time there is a coin shortage. It's a cheap loss leader (often less costly than the 25c/pound Turkey) and it gets people into the store.
-----Burton 50+ year / Life / Emeritus ANA member (joined 12/1/1973) Life member: Numismatics International, CONECA Member: TNA, FtWCC, NETCC, EveryCountry (online) coin club Owned by three cats and a wife of 40+ years (joined 1983) Author: 3rd Edition of the Sample Slabs book, https://www.sampleslabs.info/ |
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Moderator
United States
94636 Posts |
yep, I read that article on my news feed.
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Moderator
United States
187446 Posts |
Quote:
They are FOOLS, if I had one near me I'd be dumping every single day to double my money.   |
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Moderator
United States
187446 Posts |
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Moderator
United States
54280 Posts |
Yeah, but my article had the result of the penny buy.  Show your financial support of the Coin Community Family (click here)See my topic on Mexican Numismatic Medals (click here) |
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Pillar of the Community
United States
1613 Posts |
Yep. A hundred dollars worth (the maximum) and got two-hundred in return. Albeit on a gift card, I'll take that any day considering I shop there anyhow. Free money is free money.  ANA member - PAN Member - BCCS Member There are no problems only solutions - the late, great John Lennon
Edited by Ballyhoo
11/08/2025 10:20 am
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Moderator
United States
187446 Posts |
Quote:
I'll take that any day considering I shop there anyhow. |
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Valued Member
United States
335 Posts |
If I hear of such a thing, they sure won't get any copper. Thats all I have, cept a bank box.
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Moderator
United States
187446 Posts |
Quote:
they sure won't get any copper. Thats all I have  |
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Pillar of the Community
United States
7933 Posts |
My take:
This was a money losing business stunt by Giant Eagle, trying to improve their market share in Ohio, where they are #4.
Think about it... They spent a million. With grocery store profit margins below 3%, it means they need to improve their top line by over $35 million for it to just break even. If I were a shareholder, I would be selling.
NOW, HERE IS THE REALLY BIG NEWS AT THE GROCERY STORE ...
I often use cash for puchases under $10. Yesterday I went to my local Kroger, rang up a tab of $9.02 at an automatic check-out, and fished around in my pocket for the 2 cents, but no luck. So I fed the machine a $20 bill, and guess what?
I got back $11 in change.
Yep, America's third largest grocer, a $150 BILLION DOLLAR PLAYER, has begun rounding for cash purchases. HOORAY!
Edited by tdziemia
11/15/2025 07:46 am
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Replies: 28 / Views: 2,115 |
Posted 11/02/2025 11:05 am
