• seperator

Do Lincolns and patience go together?

Have you held a new Lincoln commemorative cent in your hand? Most of haven’t. I haven’t, either.

I have been reading online reports about normal coin distribution channels being backed up because of the recession. That is normal.

What isn’t normal is the fact that we have a new cent design for the first time in 50 years, and not without reason, collectors and others would like to acquire some.

I read Mint News blog yesterday (http://mintnewsblog.blogspot.com) and it noted that premium prices are being paid for rolls of the new coins on eBay. Some have even been stamped and postmarked on the official day of release.

Any buyers of these rolls should watch out. The premium will disappear.

I am reminded of the fad of the Bicentennial in 1976. The then new $2 Federal Reserve Note with the Signing of the Declaration of Independence on the back was used by some collectors as a new postmarked collectible.

Stamps were affixed to the note and then postmarked on significant dates. Some premium prices were paid for them, but since we did not have eBay then the prices paid were not terribly out of line.

Collectors of these postmarked notes after a time ended up with $2 bills worth face value.

However, because the initial costs were fairly low, the loss to buyers was not particularly great.

With these new Lincoln cents, I image most buyers will not lose much either unless they think they are cornering the market.

When the large supplies hit regular banking channels, there will be plenty for everybody who wants them at reasonable prices.

If you are anxious to acquire the new Lincoln cents, you are not alone. But have a little patience and you will be satisfied at either face value from a local bank or at a reasonable mark-up from your neighborhood coin dealer.

This entry was posted in Buzz. Bookmark the permalink.

4 Responses to Do Lincolns and patience go together?

  1. As with any collectible, if you wait long enough there is a demand that will bring prices back up. It will not bring the prices back up to the levels of the initial run, but the investment does bring a return. For example, the $2 note and the 12-cent stamp of 1976 is worth $7.16 today, adjusted for inflation. Recently, I sold 12 notes, all from each of the Federal Reserve Districts with day of issue postmarks from each of those districts that I bought for $5 each in 1976 ($224 adjusted for inflation) for $550 on a popular online auction site. Even some individual notes ($18.67 adjusted for inflation) sold for $25 each.

    There will always be a market for special collectibles (e.g., first day postmarks on rolls of coins), but it may take a while to realize profits after the initial run ends.

  2. Thanks for the mention Dave!

    I am wondering if the temporary unavailability of the 2009 Lincoln Cents at banks is creating the false impression that the coins are rare. The US Mint really should have done a rolls and bags offering of the new coins, which would have put a cap on the current speculative prices.

  3. Hello Scott B in DC says:

    I just want to know how do you calculate the inflation?

  4. Donald Ginsberg says:

    First I contacted the Federal Bank of Chicago since they distribute the coinage to this Indianapolis area. The lady I spoke to said they only send out what is ordered from that area. She gave me the phone number of the Brinks hauler who orders and picke up coins for my area. I called and spoke to a guy man named Scott from management who told me that there would be no new, 2009 Lincoln Cents, picked up this year. He said that he has too many Lincoln cents already and would not order any new ones. So much for coim collectors. When the Mint produces a new coin, and does not offer it directly to the public, then they are just screwed.

Leave a Reply