• seperator

Where is the 2009-P nickel?

There is an old saying about what’s old is new again. Perhaps that is why men are dressing like it is the early 1960s thanks to the popularity of the Mad Men TV series that ran for seven seasons.

I am returning to the early 1960s for another reason thanks to a reader email question that came in over the weekend.

I am thinking in terms of circulation finds that got me started in 1963.

The email reads, “Where are the 2009-P Jefferson nickels? My brother who lives in Southern Illinois, and I here in the Louisville Metropolitan Area of Southern Indiana, between us have searched many boxes of Jeffersons. We have not found a single 2009-P nickel. Your opinion is an anxiously awaited.”

This is a good question and it is one that will be asked more and more often

The answer will be a familiar one to anyone who spent time filling albums and noting the difficult holes to fill.

We have been living in the shadow of the Great Recession since the financial crisis of 2008. The crisit occurred almost seven years ago.

Its impact on U.S. coin production in 2009 occurred six years ago.

A lot of newcomers have found numismatics since then and have no idea what happened, or old-timers could have been so focused on the crazy hot performance of gold and silver during that period that Jefferson nickels just weren’t on their radar.

Coin mintages collapsed in 2009 to levels that had not been seen in a half century.

Why?

When the economy was walloped in 2008, two things happened.

American families reduced their spending. The economy slowed and this reduced demand for new coinage.

Secondarily, those who lost their jobs or were afraid of losing their jobs raided every piggy bank they could find to keep paying their bills.

This brought many coins back into the banking system that had been, shall we say, resting?

This reduced demand for new coins even more.

Even collectors who had been squirreling away rolls of state quarters as collectibles were forced or persuaded to cash them in.

For some, it was financial necessity. For others, once rolls fell to face value, there seemed little point to keep holding them.

Which brings us around to the specific question of the 2009-P nickel.

Mintage of the 2009-P was 39,840,000 coins.

This was a drop of 86 percent from the 279,840,000 number struck at Philadelphia in 2008.

The 2008 Philadelphia number was itself down by 51 percent from the 571,680,000 struck in 2007.

The 2009 Philadelphia figure, therefore, is just 7 percent of the 2007 figure.

Other than when mintages fell to zero in the 1930s, few Mint output declines in our history were more severe.

So the reason that the 2009-P nickel has not been found by the reader and his brother is that there are relatively few of them to be found in the sea of billions of nickels that exist.

The 2009-D traced a similar path. Its mintage of 46,800,000 makes it a little more common than the 2009-P, but still scarce when compared to most other recent mintage numbers.

Buzz blogger Dave Harper is winner of the 2014 Numismatic Literary Guild Award for Best Blog and is editor of the weekly newspaper “Numismatic News.”

 

This entry was posted in Buzz. Bookmark the permalink.

2 Responses to Where is the 2009-P nickel?

  1. Bob says:

    One thing I observed back in 2009 was that most of the bank rolls advertised on ebay were coming from Puerto Rico. My guess is that a lot of them ended up getting sent there by luck of the draw…hence making them even harder to find here in the lower 48. They are definitely a very rare find. The D’s not quite as much so, but still hard. 2009 dimes are nearly as difficult as well. As you’ve noted in the past, even cents aren’t very common. I save all that I come across, and probably half of those have some corrosion starting, so I don’t bother keeping them. 2009 quarters are also a rarity. I buy nice uncirculated examples for such a set, but I also keep a “circulation finds” set of everything, and there are still two or three of the D-mint 2009 quarters I have not yet found.

    I’m sure it also doesn’t help anything that folks like me hold on to every 2009 we can find! I guess the question is if regular circulated 2009 coins will ever be worth anything…I’m guessing likely not, considering lots of rolls were likely saved. I did also buy a roll of everything but the quarters.

  2. Vachon says:

    Even working as a cashier near a major metropolitan area, I still haven’t found too many 2009 dated nickels…maybe about 40 total from either mint in nearly six years. It’s nice to have something extremely modern that takes a while to find. The 2009-D Northern Marianas quarter took years to locate.

Leave a Reply