| Author |
 Replies: 16 / Views: 10,795 |
|
Valued Member
United States
271 Posts |
Ok, there has been a lot of talk about these Close AM and Wide AM pennies. The proofs are supposed to be wide, the business strikes closed. With the exception being the 1992, which is opposite. ebay is becoming flooded with these coins for sale. The prices asked seems to rise every week. Is it valid? Does these prices reflect the true future of these coins? Also, there are a lot of mixed reviews as to how common these coins are, or not are. My personal experience is this. I have searched over 5000 pennies since finding my 1998 Wide AM. In this search I have only found a dozen or so wheat pennies. I'm looking not just for the AM varieties, I'm also searching for the double strikes and all the others. I've found nothing. I'm beginning to think that the future of the WAM and CAM pennies are bright, from a collectors point of view. These things are not common. Not at all. I live in KY and I get a good mix of all mint coins here. And I can't seem to find much at all. I still search. 25-50 dollar a week in penny boxes is easy for me. My banks don't care to let them go. But still, I feel like I'm only hoarding copper bullion. Which I do keep. Still, I feel the AM varieties are going to go through the roof in the future. These are still relatively recently discovered coins. And as such, the value will increase exponentially as years tick by. The rarity of these coins are not yet appreciated in my opinion. And considering also the alloy makeup of these coins, to find one in decent shape will become even more rare very quickly. These zinc coins rot with time. I'm getting mine sealed and certified by PCGS very soon. I'm betting the money I pay for it will pay off very soon. |
|
|
|
Pillar of the Community
Spain
1361 Posts |
IMO, if ebay is becoming flooded with this coin and you have already found one, then maybe it is not that rare. |
|
Pillar of the Community
United States
2224 Posts |
I also live in KY, but I check on average $100 in cents per week. In about a year I have found: 0 1992 CAM, 0 1992d CAM, 6 1998 WAM, 1 1999 WAM, 14 2000 WAMand now I check every year from 1993 for WAM. Slows me down, but I want to be the first to find a 1997! What part of KY are you from? |
|
Valued Member
 United States
271 Posts |
WOW, considering that you are checking over 10,000 pennies a week, that's a little over half a million pennies a year. I would have thought that you would find more of the WAM varieties. This, to me, is further proof that these coins are not at all common. Or at least this is true in Kentucky. BWT, I live in the southeastern gateway of the state. Around the Red River Gorge area and Natural Bridge. |
|
Pillar of the Community
United States
1807 Posts |
My brother lives near Bowling Green. Last year when he came to visit here in Kalifornia I asked he bring some rolls. Well there was nothing, absolutely nothing. These rolls must have been searched by you folks from Ky.
|
|
Pillar of the Community
United States
2224 Posts |
Bowling Green is 3 hours from me, and about 4 and a half from Chadwick. Someone else must be cleaning up that area!
|
|
Bedrock of the Community
United States
12437 Posts |
Quote:
Ebay is becoming flooded with these coins for sale Part of the problem is that many examples sold on ebay are misattributed, often the case is that the coin had excessive die polishing/wear so it increases the gap slightly but not nearly as much as a true Wide AM. |
|
Valued Member
United States
124 Posts |
In regards to die wear, just remember to always check the initials as well. On the WAMs the designer initials are closer to the base of the memorial, the CAMs have a wider gap between the memorial and the initials. Hope this helps. http://www.lincolncentresource.com/wideams.html |
|
Bedrock of the Community
United States
12437 Posts |
 Too many sellers on ebay just look at the AM and pay no attention to the designer initials, that part is fool-proof. |
|
Valued Member
United States
103 Posts |
 you'll from KY. are making me sad....I will be heading back down to home in Russell Springs this April, to visit mom and all..and was hoping to pick up some rolls to bring back to Maine..  but now seems like you'll have searched them over pretty good....oh well, win some-lose some-and a whole bunch get rained out/// |
|
Valued Member
United States
311 Posts |
I donno... I also do about $100 face/week. I finally started looking for wide AMs this week, found a '98 on the first day. After that I realized it was just slowing me down too much and giving me a headache, so I stopped looking. I don't think there's a lot of future in them, it's just a lot of buzz right now.
|
|
Pillar of the Community
United States
959 Posts |
Oshelt:
If you have time, stop at as many small towns that you can, along the way. I'm in Northern Kentucky and go to Alabama and Florida a couple times a year and stop as many times as time allows. Have had pretty good luck that way. Plan your trip by getting a list of banks on the Internet of various cities close to the roads you'll be using. If you have unlimited long distance calling, call and ask 1 or 2 banks in the towns you call for what you want. I've been asking for halves in the last year. They will usually hold them for a day or two.
Don't worry; there are plenty of good finds to be had. There isn't that many 'NUTS' out there hunting coins.
|
|
Bedrock of the Community
United States
19931 Posts |
I search about 1 box per week and I've only found two 98 WAM's out of all those. They are pretty rare! There's a lot more 2000 WAM's, but I haven't been able to find a single one of those! Mostly I pluck out the coppers and BU zincs for my BU roll set I'm making. I'm building a nice little copper hoard since I think eventually copper cents will be extinct in circulation....they're already going fast, I only get about 20% now. The neat thing, the Memorial cents are now officially discontinued, there will be no more made. Between the general hoarding of copper Memorials, circulation loss and melting by the mint (and perhaps illegal melting by miscreants), I believe the Memorial series will appreciate. It's been neglected by collectors (how many times have you heard the 'billions' argument) and most are poorly made from worn dies. I probably have at least 10x the amount of time spent on Memorials as I have my Wheats searching for pristine, full step examples. Lincoln Cent Lover!VERDI-CARE™ INVENTOR https://verdi.care/
|
|
Pillar of the Community
United States
959 Posts |
I've been going thru 3-4 boxes a week, since the weather has been lousey. In the last week, I came up with (2) 2000 and just found a really nice 1998 WAM. One of the 2000's has some corrosion, but it is in decent shape. Also found a 1932 Canadian cent, which thrilled me more than the 1998. It is the oldest one I've found so far. I'll have to get a book and start a collection of the Canadian Cents. I too, am saving the copper ones. If for no other reason, I'll have something to hnd out on Holloween. BadThad: Is it snowing in Delhi? |
|
Valued Member
United States
271 Posts |
I am also keeping every copper coin that crosses my path. The hoard is growing rapidly. I've set aside a trunk just to keep the copper in. One thing I've learned is hind site is always clearer. When I was a child my father kept a small coin collection that would be worth a fortune today.
I've been paying close attention to what metals are doing. And I predict there will be a huge recall of all copper cents to supply industry in the near future. The amount of metal ores being produced is badly out paced by the demand. This is true for all metals. Look it up, the worlds silver supply with run out by 2015. At that time industrial uses will exhaust all the world reserves. I expect even the zincolns will become valuable bullion.
Also, consider the fact that many institutions want to do away with hard circulating money altogether. I don't like it, but I'm afraid its coming. All coins value will go threw the roof for collectors. And it will also spark a large number of new collectors as well.
|
|
Pillar of the Community
United States
2224 Posts |
mfhorn,
I know you are from Northern KY, and I am already doing what you are mentioning that you might (start a Canada cent book from US circulation). In two months I've put together a date set from 1957-2001, and all that I am missing from 1947 to date is 1948,1949,1951,1953,1954,1955,1956,1992(oops, didn't notice that one guess I don;t have them all from 57-2001!),2002,2006,2007,2008 and not to mention 2009. And I pulled a 1932 the other day! Amazing what you can find even as ar south as KY!
|
| |
Replies: 16 / Views: 10,795 |
Posted 02/20/2009 07:12 am
