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 Replies: 31 / Views: 8,611 |
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Valued Member
United States
114 Posts |
This is really a "I'm curious about how some coins are valued?" kind of question. I've managed to complete all of the 2012 "Farewell to the Penny" varieties, but I left my ebay saved search active. I noticed that rolls with holograms, bar-codes and "Farewell To The Penny" notices on the paper rolls, and that they sell for around, to well above $100 for a 50 cent roll. This makes no sense to me whatsoever. I understand it's the last year, but the pennies aren't scarce at all, and as far as I know, there's nothing special about the cents themselves, so it seems like there's a HUGE markup for the packaging. Can anyone make sense of this for me? |
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Pillar of the Community
 Canada
9862 Posts |
There's a sucker born every minute, there is no other explanation.
"Dipping" is not considered cleaning...
-from PCGS website
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Pillar of the Community
Canada
644 Posts |
I have been wondering the exact same for the past few months now. In fact, I've seen a "Farewell to the Penny" roll with a COA# of 56/20,000 sell for $320 dollars + shipping. It boggles my mind how someone could play that much for a roll of 50 cents with a low number. Trust me, I'm kicking myself for not buying one for what it was worth upon initial release aka $9.00, even at that time I thought that was too much for 50 worthless pennies. You can buy a similar roll with 50 2012 pennies without the special packaging for $6.00.
Edited by CoinCanuck94
08/12/2014 12:20 am
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Pillar of the Community
 Canada
5393 Posts |
I will bet that these individuals who pay the crazy prices , have never bought a real collectors numismatic coin in their lives. My cost for 2012 cents...............50 cents the year they came out. Bought from a local large grocery store cash cage. It is the Original roll #1 of the Fairways Grocery store hoard. I think I will list it later this week for $8,888.OO or best free shipping !!  !!! |
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Pillar of the Community
Canada
2366 Posts |
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Pillar of the Community
Canada
5417 Posts |
Quote:
There's a sucker born every minute, there is no other explanation.  people just fall prey to the hype and end up paying ridiculous prices. |
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Pillar of the Community
Canada
937 Posts |
Eventually enough of these people who own the Farewell series will offload, trying to get the big bucks, and when that happens the market will be glutted, causing prices to fall to more realistic values. Any collector with a little patience will not have to pay the crazy prices you see out there now.
Edited by pennysaver
08/12/2014 08:02 am
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Valued Member
 United States
114 Posts |
A lot of interesting comments that echo my own feelings. I guess my question was more rhetorical than anything, but I'm completely gobsmacked over the prices not only asked, but sold for.
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Pillar of the Community
Canada
5324 Posts |
The RCM is to blame foe this one, they smartly and carefully packaged these pennies as the last million distributed, which in numismatic term is meaningless due to the way the RCM produce and package circulating coins. One can even question if these rolls are the last million distributed, but still they sell on ebay for good returns. |
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Pillar of the Community
Canada
1747 Posts |
If you would like a mint roll pm me I saved a bunch I bought from a bank (these are the ones in the cello (plastic) wrap.
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Valued Member
United States
114 Posts |
Thanks, but I don't really need more 2012 pennies. I was mostly generating conversation on the "Farewell To The Penny" hologram, COA, rolls that sell for more than I would ever pay. Since I have all the seeming endless 2012 penny varieties, I thought it might be kind of "neat" to have one of the rolls, but to me, they really aren't a variety, just a difference in mint packaging, which means I don't feel like my collection is missing anything.
Thanks for the offer though!
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Valued Member
Canada
127 Posts |
Is this much different than we see in Notes that have low serial numbers or radars? I have never really understood why people pay extra for those. These Penny rolls have serial numbers and therefore the attraction. My thinking is that the mint relies upon about 7,500 to 25,000 active RCM coin collectors. Clearly the mint underestimated the broader appeal of these Last Penny rolls. A lot more non-RCM collectors decided this was worth owning. The actual price/demand curve should have dictated maybe 40,000-50,000 similar to the annual Uncirculated PL sets issued every year. |
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Valued Member
Canada
161 Posts |
Market is not always reasonable...for example, the first 20 for 20 maple has much higher market price than the others, with not much difference on mintage.
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Pillar of the Community
Canada
5324 Posts |
A low or #1 serial note is the first note of the series, these special wrapper pennies rolls are just regular 2012 pennies dressed in a fancy wrapper, the prices on ebay are slowly drifting back to reality |
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Pillar of the Community
Canada
849 Posts |
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Pillar of the Community
Canada
5324 Posts |
This ebay description of the last million pennies produced is misleading what these rolls of just 50 regular 2012 pennies are, similar to the massive price for roll #10000, but I still hope they sell these rolls for 6500.00 |
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Replies: 31 / Views: 8,611 |
Posted 08/12/2014 12:20 am
