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Pillar of the Community
United States
3327 Posts |
You know, it's interesting. I'd say that the distribution in the last couple dozen rolls I've searched would almost mirror what you have there. Maybe not quite so many '69s but everything else lines up. Don't see a lot of '65s or '66s these days.
"Nummi rari mira sunt, si sumptus ferre potes." - Christophorus filius Scotiae
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Valued Member
 United States
111 Posts |
Bump111: Interesting to know.
I'll come back to this post once I go through all the new boxes in the coming days/week. See if its the same.
I'm sure there are millions still out there. It would be interesting to know if they are far less then what people might think though.
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Bedrock of the Community
United States
17884 Posts |
They are lower mintage than the other years around them (1963 2.5 billion, 1964 6.4 billion, 1965 1.5 billion, 1966 2.1 billion, 1967 3.8 billion), but they are not rare by any means. The lower mintage was because of the 1964 date freeze that was placed on the coinage in 1964. Originally placed on all coins the Coinage act of 1965 changed it to a freeze on just the silver coins and 1965 coins began to be struck in June or even later, and that 6 month delay resulted in lower mintage that year.
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Pillar of the Community
United States
3327 Posts |
Well, I just received a 1965 cent in change from lunch... Go figure.
"Nummi rari mira sunt, si sumptus ferre potes." - Christophorus filius Scotiae
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Moderator
 United States
189340 Posts |
Quote:
Well, I just received a 1965 cent in change from lunch... Go figure. Now that is funny.  |
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Pillar of the Community
United States
2273 Posts |
It was a different world in 1965.
Not only was the mint furiously cranking out clads because the general public was pulling silver from circulation but this was an era where a cent actually had a small value. They were often used by the public in making change so they went back and forth to stores and the public rather than going from banks to stores to the public and often disappearing forever. Almost nobody discarded pennies in those days.
But they were still "small change" so attrition on them was staggeringly high at about 4% annually. By 1972 about 20% were already lost and the survivors were well mixed in. This was when inflation began making pennies obsolete.
Today most of these coins are just gone. Well over 90% have been lost to the ravages of time and a disproportionate number of the survivors (about half) are in the hands of people who save copper pennies. These have a very high attrition as well but much lower than the few left in "circulation".
I'd guess only about 100,000,000 survive. 3/4 million are pristine in SMS's, One million are pristine in BU rolls, And the other ~98 million are in hoards and "circulation" in typically VF+ condition with few over XF.
When you figure only 50,000,000 circulating it's not surprising you see so few. You would often see none if not for the fact that they are thoroughly mixed and few people would ever think of pulling them out special. Indeed, most are pretty ratty so they'll stay in circulation anyway.
Time don't fly, it bounds and leaps.
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Moderator
United States
189340 Posts |
Cladking, you always post commentary that gives real perspective. Thank you.  |
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Valued Member
United States
406 Posts |
An excellent explanation, cladking!
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Bedrock of the Community
United States
94367 Posts |
cladking - Good info, thanks. Pilcrows - Well, there you have it. Set your sights a bit earlier!  to the CCF! Edited by Coinfrog
08/17/2017 6:12 pm
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Pillar of the Community
United States
2212 Posts |
I would be happy to give anyone any 1965s I find for face value. It's not a coin that floats my boat.
I can say, for sure, however, that as CladKing pointed out, the 1965 cent had some cache back then. I'm sure I used more than a few of them to buy penny candy.
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Pillar of the Community
United States
2273 Posts |
Thanks guys. I found this in the interest of thoroughness; "Nearly the entire mintage of 1965-dated cents was performed during the first seven months of 1966. During that time the Philadelphia Mint struck 300,385,000 pieces, Denver 973,364,900, and San Francisco brought up the rear with 222,390,000. The total output was 1,497,224,900 pieces, all of them unidentifiable as to their actual year and mint of manufacture!" This would suggest that there would actually be a few more in a sample from the west coast as opposed to the east coast. Even in the mid to late-'60's cents didn't travel enough to get completely mixed nationwide. Look how many more S mint coins from the era are on the west coast. edited to add link. https://www.NGCcoin.com/news/article/5343/Time don't fly, it bounds and leaps.
Edited by cladking
08/17/2017 10:26 pm
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Rest in Peace
10197 Posts |
It was also about that time the lowly "penny" began falling quickly out of "style" in the fashion industry and usefulness within the building trades. Penny loafers no longer sported Lincoln's image on their tongues. Within the Building Electrical industries the lowly Lincoln being used to "fix" a blown circuit fuse was replaced by the toggle style circuit breaker, a regulation in new building codes. As we said in the '60's, " these times they are a-changin'"
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Valued Member
United States
111 Posts |
cladking: Thanks for the info, I appreciate it!
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Moderator
United States
189340 Posts |
Quote:
I found this in the interest of thoroughness That is interesting. |
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Pillar of the Community
United States
543 Posts |
Is it also possible that the 1965 cent mintage numbers reflect some pennies dated 1964. I do believe 1964 pennies were minted in 1965 as well, such as the same with other denominations. I always felt the 1965 cent mintage was too high and the 1964 cent mintage numbers were too low based on what you find in circulation.
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Posted 08/17/2017 12:35 pm
