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Investment 2019 Pennies?

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Valued Member
United States
60 Posts
 Posted 07/09/2020  09:12 am  Show Profile   Bookmark this reply Add EDM to your friends list Get a Link to this Reply
The only time I ever made money with coins was in 1979 and silver went to $49 per ounce. For years I had gone to the bank and cashed my paycheck in dimes, quarters, and halves and pulled out the silver. I turned in just about everything. I should have turned in all my Morgan and Peace dollars. $49 an ounce in 1979 dollars would be about $173 an ounce in 2020. That's how crazy it was. But, investing in recent zinc pennies hoping for $5 each? Consider this. 50 years ago I was going to the bank and getting rolls of brand new "S" mint pennies, low mintage, copper. 50 years later they are worth about $1 on a good day.
Edited by EDM
07/09/2020 09:26 am
Valued Member
United States
292 Posts
 Posted 07/09/2020  12:17 pm  Show Profile   Check Lancek's eBay Listings Bookmark this reply Add Lancek to your friends list Get a Link to this Reply
I'm not a penny expert, but is there anything significantly different on the '19 vs. the '18 or '20? Maybe if you had done that with the 2009s that had the various Lincoln's life scenes on the back. Or like someone said, the last year of the Canadian penny.

Just saw a graded 1959 PROOF cent, PF 66 red, listed for $6 + $4 shipping on ebay. Nobody bought it so now the starting bid is $5. $15-20 to get it graded, Ebay and pay pal fees on the price including shipping. And that's on a 60 year old proof. With a far lower mintage. And you think you will make money in 20 years? Grading fees will be higher by then. In my opinion, sorry to be blunt, you just bought a $25 door stop.

It's nearly impossible for the average Joe to make money on coins. Everybody wants a cut, ebay, TPGs, auctioneers, your LCS, the post office. Collect for the fun of it, not to make a profit.
Bedrock of the Community
United States
16936 Posts
 Posted 07/09/2020  11:53 pm  Show Profile   Bookmark this reply Add Conder101 to your friends list Get a Link to this Reply

Quote:
And inflation doesn't matter, it would be no different than putting 25$ under your mattress, and finding it 10 years later, it is still worth 25$

Except that thanks due to inflation that $25 will now only buy what $12 bought when you put it under the mattress. Yes it is still $25, but it has still lost half its value. If the value of your "investment doesn't grow at least as fast as the rate of inflation, you are losing money.
Gary Schmidt
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Pillar of the Community
United States
3803 Posts
 Posted 07/12/2020  9:50 pm  Show Profile   Bookmark this reply Add Joe2007 to your friends list Get a Link to this Reply
Also I wouldn't want to store that "investment". Just consider how bulky and heavy a couple hundred face in new cents would be. These would be taking up valuable real estate in your home and paying to store them else where would negate any possible upside.
Bedrock of the Community
United States
16936 Posts
 Posted 07/13/2020  10:33 pm  Show Profile   Bookmark this reply Add Conder101 to your friends list Get a Link to this Reply
You also have to consider how you would store them. They will either need to be protected from the air or a significant quantity of them in 10 years will just be "spotted common 2019 cents" worth 1 cent each. More of you "investment" down the drain.
Gary Schmidt
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United States
830 Posts
 Posted 07/15/2020  6:26 pm  Show Profile   Bookmark this reply Add Ballyhoo to your friends list Get a Link to this Reply
A quick check at PCGS shows 3 Philadelphia in MS67 and 6 Denver in MS68 with less than 500 of each submitted thus far. These numbers should increase substantially over time and surely to include some one grade higher of each. If sending them in the cost in doing so would see little increase for profit above cost, most bringing less (anything under MS66). As the Cent is the number one collected coin selling them raw, even today, will bring well over face value especially if you play the shipping figure right. But don't expect to sell a roll of fifty every day. Just saying.
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Edited by Ballyhoo
07/15/2020 6:29 pm
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