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.