How much cash will you have if you cash in 63400 pennies?

Answer 1

Pennies are considered legal tender in the United States and 100 pennies is equal to $1.00, so 63,400 pennies is equal to $634.00.

Now, if one wanted to convert the pennies into something easier to carry, assuming the conversion process cost the holder of the pennies nothing, they would still have $634.00.

For that many pennies, there is likely to be a conversion charge. Depending on the account holder relationship, banks will generally charge between 1% and 5% to convert coinage to bills. Accordingly, the following conversion charges chart provides a holder of pennies with what they will end up with:

0% (no charge) $634.00

1% $627.66

2% $621.32

3% $614.98

4% $608.64

5% $602.30

For this particular holder of pennies, each 1% of commission reduces the $634.00 by $6.34.