Why does this for-loop not work?

Once again having troubles with putting values into tables. This time it is an item that is going to be put in a table so that I can keep track of how many parts there are in there. Here is what I have:

bags = {}

trunk.Touched:connect(function(hit)
    if hit.Name == "MoneyBag" then
        local moneybag = hit
        print("yes")
        if moneybag then
            local money = moneybag:FindFirstChild("Money").Value
            print("funker")
            for _, moneybag in pairs(bags) do
                print("japp")
                if moneybag ~= bags then
                    table.insert(bags, moneybag)
                    totalmoney = totalmoney + money
                    print("no")
                end
            end
        end
    end
end)

Forgot to add the table in the first version, but there it is.

Thank you for your help (: