How many times have you found coins lying around in your car? Your parent’s couch? The sidewalk? It may sound like small money in the present but research implies the contrary.
Every year, the U.S. Mint produces around 30 million pennies per day. That’s a whopping 1,040 pennies a second and that’s more than 13 billion pennies a year! Just to put in perspective, if you stack all the U.S. produced pennies along the moon’s surface, it would circle the moon twice! If you weigh all the pennies produced in a year, it is enough to balance roughly 541 ravaging King Kongs on a theoretical scale.
Unfortunately, these ridiculous quantities of pennies are being lost in the U.S. in estimates of 66% to 74%. That means for $4.16 billion dollars worth of pennies produced in 2014, only around $1 billion dollars are left by the end of the year. The $3.16 billion dollars are then lost in streets, couches, or under car seats and never
used.
Zapp is a mobile application service that breaks this vicious cycle. Zapp allows users to receive bulky coins from cash transactions directly into an electronic account. Then, the money can be conveniently used to purchase cheaper movie tickets, gift cards, invest, donate (TAX WRITE OFF!), or simply send back to your bank account for no necessary fees like Coinstar’s ominous 10.9 percent. To learn more, visit our facebook and Instagram @zappfintech.