2010...A new high or a market retreat for Lincolns?

[notabot]

With all the hubub about the new 2009 design, the markets have turned favorable for our favorite coin, the cent.
But it got me thinking, what will 2010 bring for our coin hobby, especially the newly designed lincoln.
Boom and bust being what it is, are we buying coins which will lose value, or is this the beginning of a bull run, and will we be thankful for our thirty three dollar purchases after the mint marketers have pulled the plug on the kind words for this Grand hobby?

Personally, I love looking through cents, don't care the price, never estimated the value of my collection, and sit looking for hours on end for that ONE REAL FIND that all of you are looking for as well...

What are your thoughts on the coming years?

[Dick]

Notabot, your question is a good one. I don't know what they, (the mint, et al), will come up with, but I hope it is somethig much more substancial than the "creations" they have been showing us , thes last few years!
As far as which ones we will hold on to, or get rid of, that is up to the individual, and the end results they expect, (or can afford)! Some of us can look, and be "picky, and choosey", while others can accept that which is within their resources, or do without.
Personally, I think we should make some changes in our coinage, in that the denominations should be changed to reflect the actual values, and the resulting "pocket change" we will carry around. If, for example the cent were 10 cents, the nickel 50 cents, the dine one dollar,, and then the quarter, $2.50. Then the "dollar" could be $5.00, create two more denominations, ie, $20.00, and $50.00. Then GET RID OF THE DOLLAR BILL, The two dollar bill, and the five dollar bills. Then we would carry less "pocket change", and the larger sized, ( denomination wise), coinage would be easier to handle. No doubt, it would take many, many years for the cost of the minting of ANY of the coins to come close to the face value, as it is now. Exceeding the face, in some cases. Cmments?
Dick

[eagames]

I think after 2009 if they stop making cents it will be good for collectors. The only bad thing is we won't be able to get boxes at face to look through. I bet it will get people to look at those jars of cents they have sitting around and some will get searched.

It's probably smart to start putting away any nice red uncs you can. Just look at wheats, saving brown circs did not do great since it took 50 years to get 3 cents for them (less than bank interest) but nice red uncs do better so hoard some. It's not a big investment, 10,000 red cents for $100 to save them for the future.

[coop]

Dick: You lost me after:

[Dick]

Coop. I didn't state all that I had in mind: I meant that they should recall all bills under $100.00. With new coinage, we would have the "cent, now a dime, the nickel becomes 50 cents the dime, becomes a dollar. The quartre becomes $2.50, And all thise "2-bit dollars would be $5.00 each.. For the half dollar, make it $20.00. It is bigger than all the rest of the coinage in circulation, so why not use it?
OUTLAW the use of the price+9/10 per gallon of gas. They have been ripping us off for decades, and no one says anything, until now.
Changing ths denomination, ONLY on the coins in hand, would make a huge savubg for the mint, because the composition would not change, so the only cost would be the minor tooling for the denomination. The current coinas wouls dbe accepted at the new value, by fereral decree, and then retire the current coins as they come in. We wlould be doing the same thing as they have been doing all along with the silver coins. "They come in,. but don't go back out".
It would have as an added advantage, the avoidance of the counterfeiting of the $10. , $20, and $50 dollar bills. It is east to makd a million "funny money" dollars, but try making 10& of that in coinage!
It is not the best idea to come down the poke, but, it isn't any worse than the ideas the mint has had for many years!
Dick

[coop]

I guess my suggestion a while back seems to me like the real solution:

[Dick]

Coop, my problem with the cards, would be the same as I have with "PASSWORDS", today! I can't keep up with them. That is why I never log out of this , or any other forum! Just because of the passwords. I wrote a post on CC forum andwas proof-reading it, and when I posted, I got a message that it was wrong user name, or password! I just gave up in disgust!
Dick

[eagames]

Good points about our coins value shift.

If you round gold price to $700/oz today
And round it to $20/oz back in the gold standard days

A cent is worth 1/70000 of an oz of gold today
A cent was worth 1/2000 of an oz of gold in gold standard days

(35 times less in value)

If the cent is needed today then they would have needed 1/35 cent coins back in the good old days.

I hate to see the US money devalue but face reality that it already did and they can make coin and bill denominations that work a lot better.

[Dick]

ED, you remind me of the "good old days", when gold WAS $35.00/OZ. Funny thing, one had to work just as jafrd then for it, as one does today. I have spent many weeks, out in the hot sun, with a drywasher, working the dry arroyos, and stream beds, for that "black sand". that is where the gold hides, when it isn't in "bull-quartz". I was no kid either when doing this! 60's, and 70's, bith the wife and I out there. It was good exercise, and the air was clean, not full of garbage, like we have here, or there in PHX, and some other areas there in AZ.
Devalued dollar. And how! U remember when they sold the 1979 dodge pickup for $1795! Now you pay at least, $17,950.00, plus taxes, etc.
I guess it is time for the old farts to go by the way-side, because I don't think we can keep up much longer. I just remembered, thday is my 64th anniversary. I now have 64 years naval service, etc! And have been retired 44, almost 45 years.
Dick