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Robarons
Penny Hoarding Member
USA
522 Posts |
 Posted - 09/04/2009 : 21:20:18
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Its September now and we have seen 2 designs come and go, now on our 3rd. Four months left and one last remaining reverse left and were done with this series.
With the high demand of this years pennies, does anyone here think that we may have cornered the market or at least have made a reasonable dent? There wasnt very many folks clocking out supply of boxes and unc rolls except for us, coin dealers, and handful of others who knew better (tellers, coin collecters, etc.). You are just now seeing various designs of pennies in cirulation. My bags of 5000 have been yielding 10-15 pennies. Thats only .3%.
So do you think these pennies are going to be like 1950-D Nickels? Most of these pennies will remain in boxes further taking them off the market. And what amount do you think are till in supply chains and will make their way to cirulating change. And from there being worth pulling out later?
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Robber Baron= Robarons |
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fb101
Administrator
USA
2856 Posts |
Posted - 09/04/2009 : 21:29:13
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| Most will remain in the hands of collectors and speculators. Just like the state quarters, they'll likely be the cheapest uncs around 50 years from now (ceteris paribus) |
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PennyPauper
Penny Collector Member
USA
395 Posts |
Posted - 09/04/2009 : 22:32:24
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A old man I met said to me.. "if its made to be collectable then its not a collectible"
its the things no one thought to save that are rare hence collectible,or worth saving. |
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theo
Penny Hoarding Member
USA
588 Posts |
Posted - 09/04/2009 : 23:45:07
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quote:
Originally posted by PennyPauper
A old man I met said to me.. "if its made to be collectable then its not a collectible"
its the things no one thought to save that are rare hence collectible,or worth saving.
Excellent point! I used to collect baseball cards and the reason that cards from the 60s and before were so valuable is tht most of them were thrown out and/or severely damaged by the kids of that era. . |
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Corsair
Penny Hoarding Member
811 Posts |
Posted - 09/05/2009 : 00:13:57
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| I get about 8% 2009's in my area, but I only save the nicer looking ones. |
So long, Realcent 1. Come visit us at Realcent.org! |
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biglouddrunk
Penny Pincher Member
138 Posts |
Posted - 09/05/2009 : 02:35:02
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| I get about 3-6 09's per 50 bag |
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lewbo
Penny Pincher Member
USA
221 Posts |
Posted - 09/05/2009 : 22:49:41
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| Yeah, not seeing many here in Florida. I am about 1/3 through $700 bucks of pennies from my church's VBS penny drive. Staying constant at 20% copper and less than 3-09's per $50 bag. |
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Robarons
Penny Hoarding Member
USA
522 Posts |
Posted - 09/05/2009 : 23:17:53
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The idea that items marketed as collectables will never in turn have any value as collectables is a good point to make but demand/supply als oplay a strong roll in value of these pennies. Here are some rough examples below:
1958-D:Last Year of Wheat Reverse 801.0 Million Mintage Street Value:2-4 Cents, Bu's higher
1959-D: New Reverse 1279.8 Million Value:1-1.5 cents
2009 Pennies About 600-700 Million per Mint per design
The low mintages and different designs may hold their value because it is just not another year of low mintages within a series. Its unique set that is some what interesting, not like presidental dollars or the ongoing quarter series. Most of my friends and even some tellers think I am crazy when I explain to them 2009 pennies have a different design on them . If the supply kept locked up then it may achieve something more another random year or mint mark (1950-d nickel) or random design (1976 coinage or new nickels). |
Robber Baron= Robarons |
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Thoughts on 2009 Pennies
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