Uncirculated Lincolns From Bank/Mint?

I hadn't seen Pennies on sale from the mint

to the forum RD4




YOur just gonna have to try other banks and grocery stores Walmart



They are getting them from local banks at face value! Some banks get them others dont. depends on your area and things like that. As far as you paying double over face..... I know people are doing "AND YOU DO WHAT YOU WANT" But I dont think that is a smart investment... I think that is an ebay fly by night! People see people buying it over face so they figure its something to it but I personally wouldn't be paying 50 dollars for a box of Zinclons happy Findings

"Daviscfad", You are right, I figured the mint may sell them in bags, but they don't.

When I worked as a commercial teller, we used to get new coins all the time in our shipment from Brinks. RD4 - go to a large bank and ask the commercial teller to save you a box or rolls of new pennies next time they get them in stock. It should not be a problem.

Well thats all that matters! Collect what you like! But me throwing my opinion again The mint only made 484,000 1909s Vdb's And you got way more collectors trying to fill a Lincoln album than that amount thats why they are worth so much... I cant find the minatage figures on the 2008 LMC's but I am sure they are in the high millions or low billions

That's because those who don't remember history are condemned to repeat it.

If every person in the US saved a 1964 cent, there still would have been six billion left for the purpose for which they were made. Instead hoarders were saving bags or even hundreds of bags. These people, labeled "collectors" by an ignorant media, were blamed for the largest coin shortage in history.

How bad did this reputation go? To the point where for punishment, the mint quit making proof sets (like 20 million coins out of 11 billion was going to create a shortage) for three years. They doubled the price on the crappy SMS, and raised it another 25% when they started making proofs again.

It wasn't just the cents. They made as many nickels as they had IN TOTAL since the end of WWII, and they all ended up in hoarder's basements.

And it was all hoarders with the same "if grandpa had only done this" idea.

Fast forward 30 years to 1994. Let's say you managed to hoard $5000 in cents, more than all the SVDBs in the world. What did you have?

A basement with $5000 in cents in it. Assuming you didn't move in 30 years, which is unlikely. If you moved, you had the work and expense of moving them an average of six times. Assuming they didn't get stolen from you or lost completely in a flood or a fire.

After hiring a truck to take them to the bank (if you can find a bank that even wants that many), you can pay to have the floor torn up and repoured, since it wasn't designed to have tons of copper on top of it.

Meanwhile, you lost the chance to invest that $5000 and earn interest on it for 30 years. Back in 1980, you could have bought utility bonds and earned $850 a year for 20 years. Even a savings account would have paid you $15,000 in interest.

And let's say by some miracle they went up to ten times their value after expenses. You'd have $45,000, enough to put junior thru one year at Duke.

But let's say grandpa did buy all the SVDBs, which we know would never have been allowed. They'd prolly be available today for $50, unc. Look at the 31s. Most of them were saved. Not even twice as plentiful as the SVDB, but there are a dozen cents worth more, with mintages many times higher.

There's also the little problem with what you would do if you had a bunch of coins like that. I can't think of a common date cent I've sold 50 of as singles in the last 20 years, and you've got 50,000, or a 20,000 year supply. Try selling a bag of wheats one at a time. So you're not going to be greeted with open arms at your local coin shop.

So forget this nonsense. If you want to fill your basement with scrap metal, go for it, but don't kid yourself into thinking you're investing in coins.

If you want to speculate in coins, buy something that's already scarce and will only get scarcer.



More like ten billions. Enough for a couple for everyone on the planet.

Very, very few of such coins are the result of hoards.



The banks didn't hoard them. They couldn't get rid of them. Up until the last three million or so, anyone who wanted a bag of BU dollars only had to ask. And that was after melting down millions of them that no one wanted.

So how profitable was this hoarding? After holding them for 60-80 years, paying insurance, storage charges and doing paperwork on them for that long, they sold them for face value! There had always been more than enough to meet any collector need, just as there are more than enough current Lincolns. So why lose interest for 80 years on a basement full of them?



They were held in onesies and twosies by collectors, not "large quantities" of the same coin by hoarders.



An argument I'd accept if it weren't for the fact that these hoards might amount to a roll or two of coins, not tens of thousands of the same date.

its all relative and it all works together as collectors hoarders and singles collectors alike .
Old baseball cards are valuable because kids carried the best ones (their heroes) around in their pockets until they were trashed. Today, they're making 100 times as many and they're all held in unopened boxes. Thirty year old cards today are still mostly worthless, and this isn't likely to change until most of them get landfilled.

A final thought: Prices didn't fall on ebay because suddenly hoards of stuff came out. They fell because millions of people with one or two of an item got them out of storage and sold them.

Since there is no future numismatic play, why not sell them to him for $35 plus shipping?

please adhere to the rules , The poster who you posted this to does not have the post count to sell on the forum . Thanks

Metalman

I sure don't have a problem getting rolls of 08D's. Banks, Walmart, the grocery store - the usual places I ask if they have a roll to sell. I don't buy boxes, but I actually ask if I can get rolls without shiny coins on the ends otherwise I just dump them in my penny jar on my dresser - don't even bother looking at them since I've already got my half dozen keepers.