This morning when I was out for my run, I found a couple of pennies scattered on the asphalt.  I always pick them up and toss them in a jar for luck.  Occasionally, I’ll find quarters, nickles, and dimes, but regardless of the denomination, I consider them to be good luck charms – indications that money is in my future.  When I was working, they were a good sign that I would make a sale that day, but now in retirement, with a relatively fixed income, I’m not sure what it means?  Some say that finding a coin is a message from the angels, regardless I always think of the song “Pennies from Heaven.”  As I sing along, I try to keep in mind what Margaret Thatcher once said: “Pennies do not come from heaven.  They have to be earned here on earth.”  British pennies, however, are valued by the pound sterling rather than the dollar, but they still add-up.

The song was introduced in the 1936 movie, “Pennies from Heaven,” by Bing Crosby.  It was also recorded later by Billie Holiday, Louie Armstrong, Tony Bennett, Dinah Washington, Andy Williams, and Frank Sinatra, to name a few.  I was surprised to find that the music was done by a fellow Johnston named Arthur, and the words written by Johnny Burke.  The movie takes place during the Great Depression when every penny counted.  They do for me, even today.

I think we all worry about running out of money in retirement.  What happens if Social Security dries up?  Could there be a scandal with my pension?  Do we have enough saved in our 401k?  Is this thing they call retirement to good to be true?  It’s funny how I spend with abandon  on luxury travel, but want to hold on to a few grimy pennies found on the street.  Is there a spiritual meaning to finding coins?  Are they subtle indications that angels are looking out for me?  My wife and I often use the phrase, “Angels on your body,” as words of comfort when we are apart.  We can only hope that someone is looking out for us, but why not throw some $100 bills in my path?

I started a penny collection when I was a kid, but never finished it.  My dad was the treasurer of our church, so we would count all the change from the collection plate after the services each Sunday.  We would go through thousands of dollars in cash and change every week.  I would entertain myself by looking for missing dates from my collection, and carefully replace them with my own money if I found one.  I would always put a little extra in to make absolutely certain that I didn’t commit a sin of shortfall, especially in the church office!   The penny has always been my favorite coin, but just annoying pocket change to most people, so they were always a big part of the haul. If you threw a handful of pennies in the  collection plate, it sounded like you were being very generous.  I was especially intrigued by the 1909 Lincoln penny, minted with an S for San Francisco where it originated, and the  designer’s initials V.D.B., Victor David Brenner.  It is the most valuable of the modern day pennies, because of the limited number manufactured, and the fact that it was designed to commemorate Abraham Lincoln’s 100th birthday.  I’m always looking for one of them, even on the street.  To me, it’s like a treasure hunt, searching for something valuable and rare.  I also remember, as a youngster, looking for shiny pennies buried in the sandbox of a local park, as part of a neighborhood game to find the most hidden coins.  Pennies were an important part of my early life and the quest for treasure.

One of the biggest concerns in finding pennies that others have lost is that you don’t know where that penny has been.  If you go back to Greek mythology, coins were placed over the eyes of the dead to allegedly pay the ferryman for safely delivering the body over the river Styx, or in modern times just to keep the eyes shut during rigor mortis.  It’s certainly “eye opening” to think that the penny you  are holding might have been used for this purpose.  Give it to me then!  One of Bonnie and Clyde’s gang members is quoted as saying that his bosses “would steal the pennies off a dead man’s eyes.”  Now there are a couple of really bad pennies!

I was probably one of the first to buy penny loafers, maybe at J. C. Penny, secure in knowing that I’d always have a penny if I needed one.  Furthermore, if I required someone’s two-cents worth, I was always prepared.  However, even though I’m not a penny-pincher, I was still reluctant to give someone a penny for their thoughts, let alone two.  I would rather not throw a penny in the fountain, opting instead for something silver, and I’m certainly not a gambler, so I’ve never owned penny stocks or even participated in a penny pitch.   In my opinion, penny candy hardly seems worth it!  Benjamin Franklin taught us all that ” a penny saved is a penny earned,” and clarified by adding, “watch the pennies and the dollars will take care of themselves.”  He was a wise man, whose thoughts were definitely worth at least a penny.  I know this because he’s buried at Christ Church in Philadelphia, and advice-seekers constantly toss pennies on his grave stone.  Unfortunately, the stone is made of marble and the tossed pennies have badly damaged the surface.  Apparently, it’s going to take a lot of pennies to fix it – one million to be exact!  Next time you’re in Philadelphia, save your pennies and throw dollars!

Entrepreneurs carefully “watch” their pennies.  I don’t think this means that they put them in a jar and stare at them.  I have several jars filled with pennies, while others are organized in coin holders.  I check their value every once in a while, if nothing more than to make me feel bad.  The 1909 S VDB is now worth anywhere from $1,175 to $35,210 on e-bay.   I could have bought one in 1960 for less than $100, so I guess that if you stare at it long enough it will continue to grow in value.  In defense of myself, $100 might as well have been a million to a ten-year old.   To make up for it, I will continue to search for Mr. Lincoln on the streets of Portland, in the change from my purchases, and under the cushions of the sofa.   If I find it, I’ll start singing!  Even Benjamin Franklin  would admit that the advice of any  entrepreneur that can turn a penny into $35,210 is well worth anyone’s two-cents worth!