editorial on 2009 cents

[Robert]

Just read the "Guest Commentary" in the June 1 Coin World. Two things stood out to me...

1. A "Lincoln Birthplace" roll set (one P roll and one D roll) costs over ELEVEN DOLLARS. No way am I going to pay that much for a circulation strike whose mintage total is 634.9 million. At the risk of causing damage to the coin collecting hobby, that's just silly.

2. Later in the article, the commentor says he doesn't understand why the Mint doesn't "take advantage" of the demand for these cents and milk the potential for more "windfall in profits". It seems like a supply and demand thing to me. If the supply were to, say, double then then the demand would lessen and the market value (the price the Mint sells them) would drop.

What do you think?

[Dick]

Robert, I could not have said it any better! i have tried, and it just comes out a blast of (****)! I won't go any further in this, for obvious reasons. The mint thinks we are a bunch of bumb-bells, or they wouldn't do what they are doing. I have about a dozen cents, that came in change. I won't pay 'blood-money for common circulated coins, at the price they are asking, (and unfortunately, getting)! I'll pass on the centeniel anniversaty, if it jhas to be that way.The 2009 year has been BAD since the 20th of January, and sure is going to hell in a hand-basket! The United "Socialistic States of America! GOD help us!
Dick

[coppercoins]

One of the more important factors here is mintage. The mintage of the first design was less than 1/10th of the production overall of 2008 cents. I don't know if they plan on making a different number of the other three designs, but if their mintages are indicative of the first, we will end up with an overall mintage of fewer than 2 billion coins for 2009, and will be building circulation sets of 8 different coins on less than a fifth of the total mintage from last year.

While this doesn't necessarily justify pricing at $5 or more per roll at this time, a definite shortage will result from mintage figures like this, especially if a large number of those produced end up in circulation (which I haven't yet seen).

Two major factors came together with perfect timing to make this issue relatively scarce - a recession that reduced the number of coins ordered by the Fed, and a wholesale cash-in of coins from closets and dressers that further reduced the commercial need for the coins.

I don't plan on going whole-hog into buying 2009 cents, but you can bet that I will hold some back for their potential. They are too relatively scarce not to have some additional value.

[Teryble]

I think they do it, because of our interest! Lets have a sit-out @ the mint Truth be told, I thought there was only the log cabin until reading posts here & looked further into it. Are these new coins also zinc plated? If that is the right way to phrase it.

[Dick]

Tery, Tjhere are at least two thpes of alloy in the2009 cents. the zincoln, as has been since '82, and the 2009 cents for circulation, ( no such animal), and the other , I believe, is the "S" mint, which is of the '09 allot. that is 95% copper, 3% tin, and 2% zinc. Don't quote me on tha last two alloys as to name, but the % is correct. I don't know what the proof coins are, un less the "S" is the proof for this occasion.
Dick

[wavysteps2003]

Just a quick note on what Chuck has said about the recession and people cashing in their piggy banks.

There is another cause for the drop in mintage of coins and also paper money as well. More and more people are using debit cards instead of money to buy things, even things under $10.00. With that effect the cause is the need for less money in circulation which will result in lower mintage numbers.

BJ Neff

[eagames]

There may be more types: (including mint products)
8 normal issues in zincolns (4 types in D and plain).
8 mint set issues in copper (4 types in D and plain)
4 proofs (4 types of proof S in copper)

They don't spell it out clearly but I've heard many people interpret it that way. The one that's not clear is the mint sets, they could be copper or zinc depending on how you read what they said but there could be either 12 or 20 types.

How does everyone interpret the number of types?

http://catalog.usmint.gov/webapp/wcs/stores/servlet/ProductDisplay?catalogId=10001&storeId=10001&productId=14946&langId=-1&parent_category_rn=10111

[Robert]

Chuck, yes the mintage is 10% or so of the 2008 totals, but it's still a huge amount. It's more than 2 cents for every American and on the scale of the statehood quarters... it's fun and all that but in the end there are just way too many to make it any sort of investment. I'd no more hold back a roll of new Lincs than I would statehood quarters.

Now if there were "first year" mint errors (like the Presidential dollars) that would be a different story. Wouldn't that be nice!