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Cent sellout important milestone

What is more important? Yesterday word came that the uncirculated Lincoln commemorative silver dollar had sold out and also that the two-roll sets of 2009 Lincoln cents with the Birthplace reverse had also sold out.

I choose the cent sellout for three reasons.

The first is that despite the fact that there were some collectors who complained that the price was a rip-off at nearly 14 cents per coin ($8.95 plus $4.95 shipping equals $13.90 for 100 coins), others simply bought them and were glad to have the opportunity to do so.

The second reason is the sellout occurred in less than two weeks, the rolls having gone on sale March 13. This compares to the approximately six weeks that it has taken to reach the sellout point for the uncirculated Lincoln dollar. (The proof is close to a sellout, but not quite there yet.)

The third reason is I am surprised that there were only 100,000 two-roll sets available. I think other collectors will be, too, and that will focus their attention on the new design all the more.

Perhaps I should throw in a fourth reason, because this sellout sets us up for the release of the second of the four new reverse designs in May in a way that will keep us on the edge of our seats. There will be a group of collectors ready, willing and able to jump in to buy yet more two-roll sets. They might even snap these up quicker than the first two-roll set.

It is true that I have had a few more e-mails from lucky collectors who live in areas where the new coins are reaching circulation, but most of the country remains deprived of the new coins.

In fact, one desperate collector sent me a note that wanted to know why the Mint wasn’t retiring the old coinage and melting it down to make room for the new.

I personally haven’t been so focused on cents since about 1966. That seems to be true for others and that’s another good reason that the two-roll set sellout is more important than the commemorative sellout.

 That makes five reasons. If I made them funnier I could be on Letterman.

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11 Responses to Cent sellout important milestone

  1. idunk says:

    I personally wouldn’t invest too much money, or hold out hope as a decent investment a coin that has been released for general circulation. Just a matter of time before these start showing up everywhere.

  2. Dana Gillespie says:

    My reason for not buying the 2-roll set of Lincoln pennies is simple, and only a reflection of my personal collecting habits.
    I NEVER buy clad coins, whether they be in annual coin-sets, or in rolls like these pennies; –or rolls such as clad state-quarters or clad JFK-halves.
    I am not concerned with the value of clads (today, or on the secondary market) of clads.
    I just find them very unappealing.

    In my humble opinion (and I’m aware of the legions of collectors who don’t share my view), clad coins are simply junk.

    Had these pennies been composed of the original copper alloy, I would have jumped on it, and gladly paid ten-times the $8.95 asking price.

    Conversely, I am quite happy to say that I have received my Lincoln Silver Dollars.– I purchased 4 proofs and 5 unc’s.

    …and I must admit to being somewhat astonished by the rapid sell-out of these silver dollars; particularly as there was no "day-one" phone-clogging (and website-clogging) rush.

    The Lincoln Silver Dollar sell-out was quite orderly. One can only hope that future collectible silver dollar releases will go as smoothly as this one did.

  3. craig thomas says:

    I decided to buy three rolls while I was purchasing the Lincoln silver dollars and am glad I did. The mint didn’t list a 100,000 set roll limit which kept them from selling out quickly. The rolls on the secondary market are intially selling for $65-$95. I’m sure this will meake the next three sets sell much more quickly. Anyone but the Braille silver dollar? If so, which type?

  4. Daniel Sheffer says:

    The Lincoln cents are very popular. They have been since 1909. I do not understand why some collectors think they are over priced. Collectors have been paying over face value for state quarters for years. The new silver dollars (Lincoln, and others)are 32 to 40 times face value. True these are silver. But there’s about $10 worth of silver.
    Older cents are bringing just as much or more for rolls. Look in the grey sheet. A roll of 1984-D cents is $12. There are many others as well.
    I do not think the Mint should sell more rolls. If they did this with every popular coin, they would flood the market. I feel 100,000 roll sets is a good number, not too many, not too few.
    Bottom line is coins are a hobby. Enjoy them. Buy what YOU like and what you feel is a good value. If you buy a coin for over face value and it goes down in price, you should not care. Likewise if you do not buy a coin and the price goes through the roof you should not care.
    The fact that the new cents are not getting out to all banks is not the Mint’s falt, it’s not coin dealers falt. They are not needed in the stores, so the Gov. is not sending them out. This has happened before in U.S. history.

  5. marv rydberg says:

    well put Dave.100,000 rolls makes for a pretty low mintage from the mint for sets being released to collectors.According to numismatic news the reason for pennies going so slow in
    circulation is the recession, and back up at the Reserve.Also so many coins are being cashed in, {again the recession} that a BACK-Wash has occurred.Too many coming in very few going out.

  6. marv rydberg says:

    Also as I understand it theses mint sets ARE of a different alloy not clad. they are as I understand it mostly copper, called bronze.

  7. marv rydberg says:

    Also as I understand it theses mint sets ARE of a different alloy not clad. they are as I understand it mostly copper, called bronze.

  8. marv rydberg says:

    Also as I understand it theses mint sets ARE of a different alloy not clad. they are as I understand it mostly copper, called bronze.

  9. marv rydberg says:

    Also as I understand it theses mint sets ARE of a different alloy not clad. they are as I understand it mostly copper, called bronze.

  10. marv rydberg says:

    Also as I understand it theses mint sets ARE of a different alloy not clad. they are as I understand it mostly copper, called bronze.

  11. marv rydberg says:

    Also as I understand it theses mint sets ARE of a different alloy not clad. they are as I understand it mostly copper, called bronze.

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