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Posted 02/18/2008 12:13 pm
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The US Mint is asking that federal reserve bank to send all pennies roll at fed banks to there rolling shops to pull all copper cents out to save money on 2009 200th 4 coin sets
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hmmm...I've suspected that is what is to happen. I've heard a few accounts of people getting copper-skunked on whole boxes of circulated pennies. So now we know why its illegal for us to melt them--they want them for themselves!
Very possible. There is precident. Back in the late 1960's and early 70's it was illegal to melt down the silver coins and the government went out of their way to try and convince the public that there was no reason to hoard the silver coins because they would continue to circulate alongside the clad coins for many years to come. The whole time they had at least two large separation machines and every dime, quarter and half that came into the Federal Reserve had to make the trip through the machine to have the silver separated out. It was indeed a case of "Don't hoard them and keep the silver circulating so we can gather as much of it for ourselves as we can." I could very easily see the same thing happening with the copper cents.
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When you stop and consider our country now has 300,000,000+ and a great amount of them are kids, if the 2009 sparks further interest in that series with those kids, the values of every date will grow massively.
If that is how it happens then I would look for the massive price increase around 2029 after the vast majority of the young people who get interested put collecting aside and then come back 20 to 30 years later after their kids are pretty much grown. I don't care how many 11 and 12 year olds you have that get interested in an SVDB for a couple years, I don't see it making that much of an effect on the price until they grow up and have significant earnings that they can put towards the coin once their interest is rekindled.
