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 Replies: 15 / Views: 1,924 |
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Pillar of the Community
United States
1151 Posts |
LP1 mint rolls were selling on ebay for $40 - $50 ++, looking at sales of LP2's, mint roll sets are going for $10 - $15. I had hoped to collect big time on the LP2's, it's not looking so good. |
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Pillar of the Community
United States
615 Posts |
They were going for $25 including shipping earlier today. I think them going for less than $15 is a good deal for someone wanting just one set.
If you buy one set from the mint, then it is going to be $8.95+$4.95 shipping, so you are going to have $13.80 in a set from the mint. Plus you are going to wait forever to get it.
-SFWUSC
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Pillar of the Community
United States
2734 Posts |
LP1 2-roll set = 96,000 (final number) LP2 2-roll set = over 200,000 so far and they're still available from the Mint website as of today (June 2nd). A lot of people were 'caught out' of the LP1 set, because no one knew how limited that the number of roll sets ended up being. The Mint caught on to the market demand pretty quickly 'after the fact', so we all now know that there will be much more supply of the LP2-3-4 Cent Mint rolls (as compared to the 'key' LP1). Even if millions of BU Log Cabin Cent rolls suddenly show up at banks in the next few months (I'm not holding my breath for that), intact LP1 Mint rolls will almost certainly still hold a good premium value!  |
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Pillar of the Community
United States
4541 Posts |
sold mine last week for 28 with free shipping so I am glad I got out early
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Valued Member
United States
198 Posts |
The U.S. Mint obviously was caught off guard when the LP-1 rolls began selling for big profits on ebay and has changed it's policy to maximize the profit that they make before allowing the aftermarket to profit. Now I'm not a coin dealer, in fact I have a hard time selling my coins off. I still think it's a typical case of the Mint not being collector-friendly. I'd rather see a few lower mintage issues come out from time to time,to keep things interesting. With this happening to the Cent rolls, I hate to think of how high the production figures will be for the Mint and Proof Sets being issued this year. I was looking forward to the 2009 Uncirculated Bronze Lincoln Cents to be a low mintage semi key to the series, but considering the way that the Mint has been working recently, we may see huge production numbers here too. ~ Jim |
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Pillar of the Community
United States
6326 Posts |
 Yeah......when they see to it that "supply" does meet "demand", that, of course, equals = "overproduction", which will not have most coin collectors doing back flips ! The Mint makes money on " coins saved from circulation" as we all know. So, when they see a demand for this........they're busy as beavers to "fill that demand". The only time we'll get a "low mintage" it seems, is by accident with no foresight ! The Special Lincoln Set (assuming that is still happening) is to be only 50,000 Minted. And that will be a nice one, but the cattle stampede to get this one will make it unattainable for most people (including the aftermarket mania) It just seems hard to win here with the Mint.....  Of course, this will not change my love for Ultra Modern coins including these new Lincolns......and "my" disappointment will never be because of "re-selling" and "aftermarket profits" not being what I'd wished, I don't sell coins, it would just be merely pleasing to have things retain their value, be a low mintage, be "special" in some way, or increase in value, or God forbid, to have something "HOT" once in awhile ! And when that doesn't work out that way......it's a little bit of a let down.....but that's fine ! However, I'm encouraged by one thing....... Lincoln Mania has been going on for 200 years and isn't going to stop anytime soon !Edited by eaglefoot
06/03/2009 09:44 am
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Bedrock of the Community
United States
17884 Posts |
Even the LP1 didn't jump and run away on ebay until after the Mint cut off sales. LP2 is still being sold by the Mint. Even when they do stop selling, since the mintage is well more than twice that of LP1 I don't expect it to do a runaway. The question will be whether or not after not getting their expected runaway profits on LP2, will they buy heavily on LP3 and 4? |
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Pillar of the Community
United States
6326 Posts |
Yeah, I wonder if "the mania" has been or will be deflated by this overproduction of the LP2. Maybe the "over-production" will still continue with the LP3, but then I'd be wondering whether or not the LP4 might see some "reduced" mintage numbers if this happens......not as low as the LP1 of course, but much lower than LP2 or LP3. Banks that want these and ordering boxes of Cents are still "few to none"......so the only thing "hot" is the "two roll Sets" and the "Stringer Rolls" from the 4 Lincoln ceremonies or the lucky few whose banks "did" land them. So, I just have a hard time with the notion of the whole "over-production" thing in general with the '09 Cents. If the Mint realizes that this material isn't moving like it normally does and no Banks or Fed. Resv's. even want any.....why mint so many of them ? ....  (talking about Biz. Strikes in general, not the two roll Sets.....same coin but wrapping more for sale at higher premiums notwithstanding) Why " not" have a few unprecedented SUPER LOW mintage years of SEVERAL denominations ? .... It would be timely, necessary, financially conservative, make sense, and make about 179 Million coin collectors happy ! And possibly even about 25 Million serious numismatists would be mildy pleased as well ! .... ....  I guess this is just all free-willing conjecture though, until we just actually see what the numbers end up being. I've heard that the Puerto Rico Qtr. is going to be a low mintage. I've heard that the latest Pres. Dollar John Tyler is the lowest mintage thus far. The '08 Kennedy was low Dimes will be low. Nickels low. But " none" of these numbers really will get to that "super unprecedented low" that we'd like to see and that would make so much sense.....  The Country is just NOT hurtin' for coinage.........they just need to quit it now.......we have plenty......and they last a couple generations so...... Edited by eaglefoot
06/04/2009 09:12 am
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New Member
United States
2 Posts |
I got 2 LP2's as change at a resteraunt this morning. I inquired about buying more and bought 45 more. It looks like thay are in circulation. I do intend to hoard all I can get at face value. I have found about 30 LP1's so far this year in circulation.
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Bedrock of the Community
United States
17884 Posts |
By the way, let's stop blaming the Mint for overproduction on things like the Lincoln Cent rolls or the mint and proof sets. These are items that do not have set mintage limits and the mint makes however many are ordered. And if the Mint decides to cut off sales early just listen to the collectors howl. Remember when they stopped selling the 2004 sets early? Collectors screamed because they had been procrastinating and waiting to order instead of ordering in a timely manner and now they were cut out. The set, even though its mintage isn't that much lower than surrounding years, still brings an unwarranted premium just because of that early sales cut off. With the Lincln cent rolls the LP1 was on sale for two weeks and hadn't reached 100K yet, but because it jumped so much after the sales ended everyone was waiting with baited breath when LP2 went on sale. They sold 200K sets in four days. Should the Mint have stepped in say on the afternoon of the first day and stopped sales? Or maybe arbitrarily limited everyone to one set retroactively? They've done that before on sets that had production limits. |
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Pillar of the Community
United States
6326 Posts |
I'm too tired......  |
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Pillar of the Community
United States
2541 Posts |
I bought 2 sets of LP 2's from the mint anticipating that they would be at least similar to the LP 1's in demand. I put one of the sets up on ebay and didn't get any bids for the first 6 1/2 days of a 7 day auction, so I pulled the auction. Now I'm stuck with 2 sets of these things! |
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Pillar of the Community
United States
4541 Posts |
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Pillar of the Community
United States
1745 Posts |
Quote: I put one of the sets up on ebay and didn't get any bids for the first 6 1/2 days of a 7 day auction, Same thing happened to me, only, during the last 12 hours the bidding started and I closed at $22. |
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Pillar of the Community
 United States
5953 Posts |
Got 2 lp2's in change yesterday at Lowes. The cashier had several rolls but would not sell me one... My wife got a roll from Barnes and Noble. They seem to be more common than the LP1
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Pillar of the Community
United States
2520 Posts |
I picked up another 4 rolls of log cabins today! I was shocked! Teller at the bank asked me if I wanted old or new pennies, and I figured the new ones would be splitters! I guess I'll list them on ebay! I just saw a plastic Brinks roll end at $6.50 and another one ended at $14.50. I'll be happy someplace in between! Edited by ratman4762
06/17/2009 9:03 pm
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Replies: 15 / Views: 1,924 |
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Posted 06/02/2009 9:12 pm
