# Penny pouncers will earn under minimum wage

**URL:** <https://boards.straightdope.com/t/penny-pouncers-will-earn-under-minimum-wage/393139>\
**Category:** Cecil's Columns/Staff Reports\
**Created:** [February 21, 2007, 9:14pm UTC](https://boards.straightdope.com/t/penny-pouncers-will-earn-under-minimum-wage/393139 "2007-02-21T21:14:02Z")\
**Posts on this page:** 1\
**Page:** 1

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**Author:** ![Measure\_for\_Measure](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/measure_for_measure/32/557_2.png) [@Measure\_for\_Measure](https://boards.straightdope.com/u/Measure_for_Measure)\
**Post date:** [February 21, 2007, 9:14pm UTC](https://boards.straightdope.com/t/penny-pouncers-will-earn-under-minimum-wage/393139/1 "2007-02-21T21:14:02Z")

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Back in 1983, Cecil calculated that if it took 5 seconds to snatch a penny from the ground, [that would work out to $7.20](http://www.straightdope.com/classics/a1_334.html) per hour, which at the time was more than the minimum wage.

By 2009, after the [minimum wage increase is fully phased in](http://www.sbinformer.com/news/press/070221SurePayroll1.html), they might consider other work, as penny earnings will fall just short of the new $7.25 federal level.

Nor is penny-poaching tax free. [The IRS states](http://www.irs.gov/publications/p525/ar02.html), “If you find and keep property that does not belong to you that has been lost or abandoned (treasure-trove), it is taxable to you at its fair market value in the first year it is your undisputed possession.” So be sure to keep accurate records!

For the humor-impaired, there is also [the de minimis rule](http://www.smbiz.com/sbw1070.html): “A de minimis benefit is any property or service the value of which is so small as to make accounting for it unreasonable or administratively impracticable.”