| Author |
 Replies: 22 / Views: 7,991 |
|
Pillar of the Community
United States
1450 Posts |
I was reading latest issue of "Coins" magazine and they were pointing out the many semi-key dates of wheat pennies. If I could wait 30 years I bet those semi-key date coins would be a real bargain because instances where only 1 to 5 million pennies were minted are inconceivable now. Now billions of coins are minted each year. There are many wheat pennies with mintage of less than 5 million and they sell very cheap, relatively. Even truly rare wheat pennies are cheap in VF to EF. Only 2.5 1924-D wheat pennies were minted and you can get one in MS63 for $375. I know that is thousands of times the face value , but in 2000 there were over 8 billion Lincoln pennies minted in the US.
*** Moved by Staff to a more appropriate forum. ***
|
|
|
|
Pillar of the Community
United States
3463 Posts |
The 2009 Lincoln business strike cents minted in 95% copper alloy, 3% zinc and 2% tin have a mintage of only 784,614 coins in each design. Think about that compared to a 1914-D with a mintage of 1,193,000, or a 1931-S with a mintage of 866,000. http://www.lincolncentsonline.com/2...20Cents.htmlMaybe something to invest in!  |
|
Pillar of the Community
United States
1119 Posts |
Quote:
The 2009 Lincoln business strike cents minted in 95% copper alloy, 3% zinc and 2% tin have a mintage of only 784,614 coins in each design.
Think about that compared to a 1914-D with a mintage of 1,193,000, or a 1931-S with a mintage of 866,000.
except 100 years from now there will still be 784,600 or so of each 2009 copper cent still in uncirculated condition |
|
Pillar of the Community
United States
3463 Posts |
You may be right. The 1958 Lincoln Cent proof had a mintage of only 875,652 and it is still commonly available at a reasonable price. |
|
Valued Member
United States
321 Posts |
Except there's no such thing as a truly rare Wheat penny unless you include errors. I believe that scarce is under 500 survivors and rare is under 75 survivors. The 1852-O Half Dime had 260000 minted to begin with, and many were melted in the following year because of the 1853 weight reduction. PCGS estimates that only about 200 survive in all grades. There's a nice dark PCGS VF30 on ebay for $215. Also, mintage means very little when it comes to rarity, as with the 1852-O Half Dime and the 1853 meltings. The 1909-S VDB cent was saved from day one, there are hundreds available online. It is not a rare or even a scarce coin, it's just a popular one. |
|
Pillar of the Community
 United States
1450 Posts |
There is also a great demand for the 1909-S VDB. Prices usually respond to supply and demand. The mintage of the 1931-S is 866,000 and this was a fully circulated coin that was minted in the heart of the Great Depression. Most of the "S" minted wheat pennies minted before 1916 have low mintage for a penny. Pennies are not silver dollars when it comes to mintage. A Morgan with mintage of 866,000 is usually a valuable coin. The most Morgans ever minted for a single year is about 21 million. The most wheat pennies is 288 million before 1920. Why does Steele say that one hundred years from now all the 2009 copper will all survive Most comic books of the 1950's don't survive. To say that scarce means less than 500 surivors and rare is under 75 survivors just shoots the heck out of most collections. Do you mean just wheat pennies or all coins because I disagree with that characterization of scarce and rare. There are maybe 10,000 surviving 1916 LSQ's. Try buying one in EF condition. You will pay $10,000. Are we talking apples and oranges here?
|
|
Pillar of the Community
United States
5825 Posts |
Numbers struck is NOT the important figure; it's only an indicator.
Numbers surviving is the key figure.
Wait until the US finally discontinues the cent -- and maybe the nickel too.
(But don't hold your breath until that happens; Congress is involved.)
I suspect the US Gov't will pull all of those coins that they can get their hands on out of circulation and melt them.
Then numbers struck will be meaningless.
Edited by kanga
09/11/2016 10:08 am
|
|
Pillar of the Community
United States
4085 Posts |
Quote:
Why does Steele say that one hundred years from now all the 2009 copper will all survive Most comic books of the 1950's don't survive. The 2009 copper was sold as a collectible and packaged as such. A 1950's comic book was sold to mostly kids as entertainment, not to collect. Also, coins are made of metal and comic books are made of paper.  I do think semi-key Lincolns will have a decent shot at appreciating, especially in higher grades. Trying to find early branch mint Lincolns with some red mint luster remaining, for example, is pretty challenging. |
|
Bedrock of the Community
United States
94367 Posts |
Especially with good strikes!
|
|
Pillar of the Community
United States
3343 Posts |
I own a couple of rare coins. They're not Lincoln cents. Maybe someday the 1844P quarter eagle will be considered a semi key instead of those mine-run Charlottes.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
Edited by thq
09/11/2016 7:47 pm
|
|
Pillar of the Community
United States
1450 Posts |
Growing up I thought a 1914-D penny was the rarest thing in the world. My brother and I searched rolls of pennies looking for that coin. Today I doubt you can find a Wheat penny from before 1920 in your change if you checked a 100 rolls of pennies or a thousand rolls. I think this is a reason coin collecting is becoming a hobby for the elites. You have to buy every single scarce or collectible coin there is now. When the coins go from Silver to silver clad and from 5 million pennies to five billion mintage you know they will never be worth ten cents if you live to 100. Clad coins are just junk IMO and you pay more for them brand new than they are worth. A 2016 penny is not worth a penny since there is nothing you can buy for a penny. |
|
Valued Member
United States
321 Posts |
Quote:
I own a couple of rare coins. They're not Lincoln cents. Maybe someday the 1844P quarter eagle will be considered a semi key instead of those mine-run Charlottes. The 1844 should be considered a semi-key or even a key. It is hard to find, and I mean literally hard to find. Only four have been sold at major auction houses in the past two years. |
|
Pillar of the Community
United States
3343 Posts |
When I was a kid the 1909SVDB and 1877 cents were the holy grail. Today I know they're not rare, just stoppers in popular series. I wouldn't refuse one if offered for free - especially the 1877 - but they don't represent value or the "thrill of the hunt". By comparison, the 1844P quarter eagle showed up on Allen's website 10 years ago priced $100 over melt. It's only vg, but 1/3 the price of either of the stopper cents in the same grade...and it's gold. I could get my purchase price back today selling for melt. Deals like this still show up on ebay often, since few people collect lower grade gold coins. I got a polished ex-jewelry 1854-s gold dollar for $100 a month ago. It went right into my pocket coin pouch. "Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
|
|
Bedrock of the Community
United States
20753 Posts |
Quote:
Numbers struck is NOT the important figure; it's only an indicator.
Numbers surviving is the key figure. Not completely true. Most people do not consider how the population of Earth is increasing. Not to long ago, a Billion people on Earth was not imaginable. Today, we have possibly over 3 Billion. As the population grows, so do the amount of coin collectors. IF only 1% of the 3 or 4 Billion wanted a 31S Lincoln Cent, just wouldn't work. And if the population of Earth grows to over 5 Billion, imagine trying to find even a 2009 Cent. |
|
Pillar of the Community
United States
1119 Posts |
Quote:Not completely true. Most people do not consider how the population of Earth is increasing. Not to long ago, a Billion people on Earth was not imaginable. Today, we have possibly over 3 Billion. As the population grows, so do the amount of coin collectors. IF only 1% of the 3 or 4 Billion wanted a 31S Lincoln Cent, just wouldn't work. And if the population of Earth grows to over 5 Billion, imagine trying to find even a 2009 Cent. and it is even harder to find that 31s if only a handful survive in decent grades. so really numbers struck has very little to do with the size of the pool to choose from today |
|
Pillar of the Community
United States
3463 Posts |
Edited by cwb
09/12/2016 10:07 pm
|
| |
Replies: 22 / Views: 7,991 |
Posted 09/11/2016 12:14 am
