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 Replies: 17 / Views: 2,057 |
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Valued Member
United States
143 Posts |
I purchased three sets of the lincoln "formative years" pennies when they first were first released and so badly want to open one of the sets and the rolls it contains. Should I do this or will they no longer have any value?
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Member
United States
917 Posts |
The value as a mint set will plummet once that box is opened.After its opened nobody can say for sure what rolls they are and from which date.
If you are opening the rolls themselves in search of errors , its taking a chance.Not every date is guarenteed to hold errors,not even the hot dates.
At the rate the errors are appearing though any value there is also dropping daily.
Decide the reason you bought them and act accordingly.
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Pillar of the Community
United States
581 Posts |
If they were bought as a set, keep them as a set.
If you bought two sets, open one and inspect it, and store the other one untouched and unopened.
The price and value has always been in the packaging.
As for, will they hold their value...who knows.
I already feel, that they really are not worth much more than a penny.
There are people that will argue with that statement but It's just my opinion.
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New Member
United States
18 Posts |
Sorry if this is a silly question from a newbie, but...
I saw today that 2-roll in-box mint sets of 2009 P&D (LP1) log cabin Lincoln cents are selling for $80+ on e-bay. What gives? Why so much? Are people buying them like lottery tickets for errors? Or were there so few roll sets issued that they are now rare?
I just ordered two sets of back-ordered (LP2) "The Formative Years" from the mint...I'll be sure not to open them.
Edited by Huffheinz
07/31/2009 3:13 pm
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Pillar of the Community
United States
4867 Posts |
Bust it open. They are mean to be enjoyed, not stored in a roll and never see the light of day.
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Member
United States
917 Posts |
Huffheinz , only certain dated boxes will fetch that price.Yes they are playing a Lincoln lottery hoping to find errors which may or may not be present.
The more boxes that get opened looking for these , the higher the value on an unopened box.Pleases me no end.
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New Member
United States
18 Posts |
Thanks for the info, Wetglas. I guess I didn't need to order two sets of LP2's but I'm kind of a Lincoln buff, so I'll open a box and keep one back just in case.
On a side note...I'm surprised I still haven't seen any 2009 Lincoln in circulation.
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Pillar of the Community
United States
2520 Posts |
Call me a curmudgeon....but a topic like this doesn't belong in this fine hobby IMHO. It reminds me of baseball card collecing (should I open the box and rip through every pack and look for the autographed card or save for possible future financial gain). I started in this hobby 37 years ago for the fun of it. I still enjoy it very much, because I can SEE and hold a part of the past in my hands. Don't get me wrong, I have nothing against making money in this hobby, but I wouldn't even think of having a coin or coins in my collection that I couldn't view. I would not be able to keep one of these unopened sets. I would have to see what I paid for.
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Member
United States
917 Posts |
No problem , if you are going to be Lincoln looking for errors I will share what I know about it.
In the month of May for approx 3 weeks at the Philadelphia mint production on the formative cent seems to have been halted.
This is borne out by the dates the coins are boxed.
There is a web site that monitors every variety and confirms dates found.To the best of that sites knowledge which has considerable input no errors have been found from boxes after this 3 week break in may.
Speculation is this is when the faults were rectified.
There have been reports of boxes from early June having errors in but none are confirmed.
These june reports are thought to be wishful thinking.
Edited for the Ratman , by that logic we should pay $9 for 2 rolls of cents , open them and be left with $1.Thats not the point of buying these mint sets mate.
Edited by wetglaswegian
07/31/2009 5:10 pm
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Moderator
 United States
187582 Posts |
Quote:
Bust it open. They are mean to be enjoyed, not stored in a roll and never see the light of day. Quote:
...but I wouldn't even think of having a coin or coins in my collection that I couldn't view. I would not be able to keep one of these unopened sets. I would have to see what I paid for. These two posts sum up how I feel. Full disclosure, I do not own any of the LP mint rolls because, in my opinion, one is paying for the package and not the coins. But if I did buy them, or had them given to me as a gift, the temptation to open them would be stronger than my will to wait long enough to post a question like this on the forum! That said, my vote is to open, open, open!  |
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Pillar of the Community
United States
2520 Posts |
Quote:
Edited for the Ratman , by that logic we should pay $9 for 2 rolls of cents , open them and be left with $1.Thats not the point of buying these mint sets mate. You're buying the packaging.So, buying these sets is sorta like buying a slabbed coin because of the grade on the slab...with no regard to the actual coin in the slab. I've always heard "Buy the Coin, not the Slab". |
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Member
United States
917 Posts |
Ill agree that yes , I've paid for the packaging.Ive more than a good idea whats in the box so I've no need to open it.
Watching the hullaballoo surrounding these I cant help but notice that an opened box or no box is going to fetch little more than face value.
On the other hand an unopened box can fetch anywhere from $20-$80 dollars currently,by not opening them all I've done is protect my investment.
Should the price fall as it will in time I've lost little , however if the price doesn't drop and more and more boxes are opened..well,its worth riding this one out with unopened boxes I think.
When the dust dies done the buyers will know which boxes are to be searched and those will always retain that premium unopened I hope.
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Valued Member
United States
80 Posts |
Bust them open, you are still able to re-order, the mintage will be
later dated how ever you still have un-opened box.
HuffHienz: log cabin mint rolls were low and bought out
within a few days of release. Hard to purchase, but
I have seen them at $65.00 at various coin shows.
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Valued Member
United States
429 Posts |
What are you wanting to collect: sealed rolls or an individual coin? If you are roll collecting, then keep them as is and put them with the rest of your collection, if you bought them for the coins then open them. I know that when I have a roll the first thing I want to do is crack it open, find the best coin for my set and then put the rest in a coin tube.
If you just want a single coin for your collection then buy one at a local coin store or from the net and keep the rest for safe keeping. I personally think the value of these are going to drop because so many were made and there really is nothing extra special about them besides being a new design, there is no "special" material used, there is no "special" press, there is no "special" mint making them and you can find them at about anywhere. So my final advice is do what YOU want to do with them.
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Pillar of the Community
United States
4867 Posts |
Personally I think these rolls and bags being sold from the mint are a rip-off. Your just paying for the packaging. I cannot justify paying $8.50 for 2 rolls of 2009 cents or $32.95 for 2 rolls of quarters. The packaging means nothing to me.
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Pillar of the Community
United States
3077 Posts |
i just got some UNC rolls form the late 60's think they lasted 2 days before I broke them wammer jammers free
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Replies: 17 / Views: 2,057 |
Posted 07/31/2009 2:51 pm
