A waste management facility in Morrisville, Pa. is taking advantage of the $68 million worth of change Americans toss every year, the Wall Street Journal reports.
Reworld, a sustainable-waste processing company, told the Journal it has collected at least $10 million in coins over the last seven years.
The company began collecting change after noticing more was ending up in the trash as Americans switch to electronic transactions.
The U.S. Mint spent $717 million making coins last year but more than half of those coins sit in people’s homes, the Journal said, citing the Federal Reserve.
Banks like Capitol One, PNC and TD Bank have all removed coin counting machines.
Of the $10 million in coins Reworld has recovered, about $6 million has been deemed good enough to use, the Journal said. Reworld turns over the money to a third party to count and deposit to local banks, the Journal said.
Reworld also saves the buffalo nickels it finds. The nickels, made between 1913 and 1938, can be worth thousands of dollars, the Journal said.
Aside from coins, Reworld also recovers soda cans, old pipes, keys, and silverware, more than 550,000 tons of metals annually. Reworld makes most of its revenue from operating incineration facilities that burn trash to generate fuel, the Journal said.
Sam Barron ✉
Sam Barron has almost two decades of experience covering a wide range of topics including politics, crime and business.
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