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 Replies: 37 / Views: 2,954 |
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Pillar of the Community
United States
2271 Posts |
Mint sets are the place to look for most of the high grade memorials. They can drive you a little nuts since with some dates it seems every single specimen is layered in 24 karat scratches. The '79-D, for instance, can be near impossible and then when you finally find a decent one it will be weakly struck on the reverse steps.
There are no longer any gem '68-P cents in the sets. This is most ironic since this date used to be the very most common of all the gem memorials. The mint set was high mintage and a high proportion were spectacular coins. This date came highly lustrous with many coins that were very highly PL. Now they are all corroded. Every last one of them has tarnish or carbon spots. 95% are so corroded they aren't even really collectible and the other 5% have small carbon spots on one side or both. People didn't collect these so this may prove to be the toughest date rather than the easiest.
Time don't fly, it bounds and leaps.
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Pillar of the Community
 United States
3499 Posts |
toniblab & cladking- thanks for the info! I guess I definitely am not alone in my hoarding or copper memorials.
Any predictions of how long before pre-82 memorials will be like wheat pennies in that they will be quite scarce in circulation?
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Moderator
 United States
188660 Posts |
Quote:
Any predictions of how long before pre-82 memorials will be like wheat pennies in that they will be quite scarce in circulation? With the design change in 2009, IMHO, probably no longer than it took the Wheaties to become scarce after 1959. Given the larger number of collectors and hoarders now compared to the 1960's, I would not be surprised if the timespan was much shorter. |
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Pillar of the Community
United States
3499 Posts |
jbuck- good point. I think that wheats from the 1950s were still fairly common in circulation even in the 1970s. But it is true that not as many people hoarded them. I think that the design change will have an effect of making people pay more attention to pennies in circulation. In addition, it is probable that if the memorial design doesn't resume in 2010, then even more people will think to hoard copper memorials.
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Pillar of the Community
United States
2271 Posts |
Pennies will disappear quickly when they go.
I suspect we may be in the early stages now. Within a couple years after stores begin refusing to deal with them they'll be gone. It will take six months if the government pulls them for melting.
On the long shot that the one cent coin continues to "circulate" the percentage will drop more slowly because there are so many always coming back into change that have been gone for years.
I'd guess the odds of a one cent circulating in three years is less than one in four.
Time don't fly, it bounds and leaps.
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Valued Member
United States
417 Posts |
Quote:
jbuck- good point. I think that wheats from the 1950s were still fairly common in circulation even in the 1970s. But it is true that not as many people hoarded them. I think that the design change will have an effect of making people pay more attention to pennies in circulation. In addition, it is probable that if the memorial design doesn't resume in 2010, then even more people will think to hoard copper memorials. You're right about the wheats. My mother bequeathed to me about $4 worth of wheat pennies she found in circulation when she was younger (in the 70s and possibly 80s). |
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Pillar of the Community
United States
3499 Posts |
cladking- Really? You think that the pre-1981 will be gone that soon, or do you mean that the penny in general will be gone that soon? It just seems that the US government has been really slow to modernize its coinage (doing away with a $1 bill and forcing people to use dollar coins, & etc). It just seems that pennies will be around for quite a while.
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Bedrock of the Community
United States
19957 Posts |
I agree with cladking. Look, morons are breaking into houses and stealing the copper pipes, people will hoard all copper cents because of melt value. It's already started, I've seen people on these forums talking about stashing away all the copper cents they can find. I suspect you can find bags of pre-82's on ebay already. Lincoln Cent Lover!VERDI-CARE™ INVENTOR https://verdi.care/
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Pillar of the Community
United States
3499 Posts |
BadThad- well it isn't that far fetched. So you guys may be right.
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Pillar of the Community
United States
2271 Posts |
I think the penny will be gone that soon.
I expect metals prices to continue higher with inflation and any day now Congress will get a scare when the nickels disappear from circulation. This will simply force them to wake up and do something. Steel pennies are going to seem pretty stupid when people start trying to figure out how to make change without any nickels.
Time don't fly, it bounds and leaps.
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Pillar of the Community
United States
3499 Posts |
cladking- well, I'm not so sure that nickels will be gone that soon. Sure, they cost 7 cents to produce, but they'll probably stick around for a while.
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Moderator
United States
188660 Posts |
Nickels are 75% copper; and Nickel is not as cheap as it used to be, either. Replace them with a steel version and the old ones are sure to disappear.
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Pillar of the Community
United States
3499 Posts |
jbuck- Good point. So what is the "bullion value" of a currently circulating nickel?
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Valued Member
United States
417 Posts |
Archraz, there was a thread on here where someone stated a box of nickels went for $138, bullion value.
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Pillar of the Community
United States
3499 Posts |
florida- thanks for that info!
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Replies: 37 / Views: 2,954 |
First Page
Posted 06/16/2008 12:29 am
