How It Works

There has been some confusion on how Penny Experiment works. That is partly because there wasn’t a designated plan when the site launched. There was only the goal to turn a found penny into $1 million worth of food for food banks. How to accomplish that has been put together on the fly, and it will undoubtedly go through many changes in the future. Despite this, a basic framework has emerged.

Once the original penny was found and I decided to try and turn it into $1 million of food for food banks, I knew that I needed to somehow exchange it for more. I therefore created a list as to why the original penny was worth far more than a penny. That list convinced Conna Craig and she purchased the original penny for $10. I then took the $10 I received from the original penny and exchanged it for 1000 pennies.

Of those 1000 pennies, I took the first 100 and set them aside for artists to use in creating an art piece that includes a penny and a number between 1 and 100. A 50% stake in the penny postcard art was purchased for $1000 by Dana Hughes allowing me to begin buying food for food banks. The postcard art will be displayed at an art gallery at a later date to be announced and will be auctioned off to raise more money to buy food for food banks.

To get the most food from the money earned from the artwork, coupon bloggers will use the money to buy as much food as they can for as little as posssible. The coupon bloggers will then donate all the food to a local food bank, adding up the retail value of the food purchased which will go toward the goal of $1 million in food.

This should be a win-win situation for all. The artists get publicity for their artwork, the coupon bloggers get publicity for their websites, local food banks get a lot of food, and the readers get a chance to buy truly unique art and learn how to use coupons to save them a lot of money on their future grocery shopping.

If you still do not understand part of this project, please feel free to leave a comment and I will do my best to answer it.

8 Responses to How It Works

  1. Tricia Pinkert-Branner says:

    when do i need to have this in by? you may have more than 100 interested artists. you might consider setting aside more pennies for more artists.

  2. admin says:

    Have sent you an email with all the information. I certainly hope that we will have more art projects as time goes on, but this first series will be limited to 100 so that I don’t overwhelm myself more than I already have ;)

    Jeffrey Strain

  3. What a fabulous project! I can’t wait to see the results. 900 pennies…How about starting “A Penny For Your Thoughts” contest with a $10 entry fee. Perhaps you could find someone to publish the results, that way the project would keep growing. (include photos of the art work)

  4. Vernon J says:

    As an employee of Food Bank for the Heartland that serves 77 counties in NE & 16 counties in Western Iowa. I’m glad to see this kind of effort. YOU have launched it at a wonderful time of year. People give & give often this time of year. I hope this project is a success.

  5. Irit says:

    What a great idea and what a wonderfu person you are.
    I am ready to mail out a piece of art. Any subjest goes?
    Do I need to add a penny?
    Happy new year god bless you, Irit

  6. janice says:

    There are many online artist communities wherein if someone were to post a request for artwork for this project, many artists would be willing to give their time and effort. I belong to one and will post a request in mine. I gather Googling ‘online art communities’ or something to that effect would produce many results of more art groups.

  7. carl says:

    Genius idea! It reminds me of the craigslist guy a while ago who tried to barter his way into getting a house. He eventually got one in Arizona! Keep up the good work, you’ll meet your goal as well!

  8. Paula says:

    It’s a wonderful gift of giving back Jeffrey, along with a way to make it fun for others to join in and get the results you have originally hoped for. My guess is that you will far exceed the $1 million challenge.

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