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hector6man
Penny Pincher Member
USA
129 Posts |
 Posted - 05/06/2008 : 06:44:03
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When the new 2009 penny is released, should we hoard it or just ignore it?
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"Ninety-nine percent of the failures come from people who have the habit of making excuses." -George Washington
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Epaphras
Penny Collector Member
USA
382 Posts |
Posted - 05/06/2008 : 08:10:23
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| Bad money drives out the good money. |
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jpf231
Penny Collector Member
USA
340 Posts |
Posted - 05/06/2008 : 09:56:37
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| Yes - I agree - the 2009's will be just more bad money lowereing our copper percentages, however slightly and continuing to push out the good money. |
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misteroman
Administrator
USA
2565 Posts |
Posted - 05/06/2008 : 17:02:53
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I for one am going INCREASE my Orders hoping to get 09's as song as they come out.
D |
Buying CU cents!!!! Paying 1.2 unlimited amounts wanted. Can pick up if near Ohio area. |
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Flbandit
Penny Hoarding Member
USA
851 Posts |
Posted - 05/06/2008 : 18:17:32
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| I'll keep a roll or two, but I think the mint will make so many it's not going to be valuable anytime soon. |
Are you throwing that out? |
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misteroman
Administrator
USA
2565 Posts |
Posted - 05/06/2008 : 22:30:37
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| But those dumb bidders On ebay will go crazy I bet |
Buying CU cents!!!! Paying 1.2 unlimited amounts wanted. Can pick up if near Ohio area. |
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ScottyTX
Penny Hoarding Member
USA
508 Posts |
Posted - 05/06/2008 : 22:47:22
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talking about ebay bidders going crazy, for the year 2008-D when the first ones were released I managed to snag three boxes on accident. Appearently I was the first one to have them listed on ebay. The final bid was right around 125.00 for the first 25.00 box I almost fell out of my chair, lol. Sold the other two boxes with second chance offers for well over a hundred for each. They can be well worth it if you can get them up early.
Scott |
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n/a
deleted
13 Posts |
Posted - 05/07/2008 : 07:34:24
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| I guess I am a little behind the curve on this one........ Why the hell would anyone pay $100 over face for readily available trash pennies?? |
Another long day in the copper mines |
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El Dee
Penny Hoarding Member
USA
547 Posts |
Posted - 05/07/2008 : 09:26:45
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P.T. Barnum had it figured out loooong ago. Who cares as to why - just be glad they will give you the extra $100!
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Trust the government? Ask an Indian. |
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horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 05/07/2008 : 09:43:09
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quote:
Originally posted by ejszyper
I guess I am a little behind the curve on this one........ Why the hell would anyone pay $100 over face for readily available trash pennies??
They are not easy to get if you are on the other side of the country from the mint mark that you want. Also even when trying for uncirculateds with the mint mark of the closest mint, you have to order ALOT of pennies from the bank to get a few boxes of uncirculateds. Many collectors just don't want to bother with that.
That being said paying $100+ so that you can have them now is a waste. All they had to do was wait 3-4 month and get them for $45-$50 a box. But I guess that they don't want to wait for the same reasons that people pay $10 bucks to see first run movies instead of waiting to see them for $1 at the cheapo theatre. It is just human nature to want things NOW... |
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hector6man
Penny Pincher Member
USA
129 Posts |
Posted - 05/07/2008 : 12:04:30
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| How much do you think they would be worth if I held them for about 20 to 30 years? |
"Ninety-nine percent of the failures come from people who have the habit of making excuses." -George Washington
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horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 05/07/2008 : 12:22:46
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quote:
Originally posted by hector6man
How much do you think they would be worth if I held them for about 20 to 30 years?
Impossible to say really, but a quick search on E-Bay shows 1988-D rolls (20 years old) selling for $11-$14. That is equivalant to earning 16.7% compounded interest for 20 years (very impressive). $10k invested in 1988 in uncirculated pennies would be worth 220k today (This does not take into account the price decline if you tried to flood the market with a million 1988 UNCs or take into account how long it would take you to try and sell them a roll at a time).
Of course if the SHTF, I don't think people will be looking to buy UNC pennies. Just because US coins are collectable today does not mean that anybody will want them 20 years from now. So like every investment there is risk... |
Edited by - horgad on 05/07/2008 12:25:48 |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 05/07/2008 : 12:58:49
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quote:
Originally posted by hector6man
How much do you think they would be worth if I held them for about 20 to 30 years?
In current fiat dollars or inflation adjusted dollars?   |
If your percentages are low.. just sort more. If your percentages are high.. just sort more.
Now selling Copper pennies. 1.6x plus shipping. Limited amounts available. |
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Art Tatum
Penny Collector Member
USA
400 Posts |
Posted - 05/07/2008 : 13:34:22
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we should hoard everything and anything but pogs!
never know what will be big next! |
my machine is running! |
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hector6man
Penny Pincher Member
USA
129 Posts |
Posted - 05/08/2008 : 01:19:12
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| Ya, I guess your right. I do plan to ask a local branch manager if they will order me a box or two so that I may sell them on ebay to the newbies! Imagine a box of $25 going for over $50 bucks, then getting that money to buy two boxes to sort out for copper. |
"Ninety-nine percent of the failures come from people who have the habit of making excuses." -George Washington
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hector6man
Penny Pincher Member
USA
129 Posts |
Posted - 05/09/2008 : 00:29:21
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Cool, just found out that the 2009 penny will be Copper! SEC. 304. <<NOTE: 31 USC 5112 note.>> NUMISMATIC PENNIES WITH THE SAME
METALLIC CONTENT AS THE 1909 PENNY. |
"Ninety-nine percent of the failures come from people who have the habit of making excuses." -George Washington
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NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 05/09/2008 : 06:09:54
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quote:
Originally posted by hector6man
Cool, just found out that the 2009 penny will be Copper! SEC. 304. <<NOTE: 31 USC 5112 note.>> NUMISMATIC PENNIES WITH THE SAME
METALLIC CONTENT AS THE 1909 PENNY.
No way. Post a link please.
Deal |
Live free or die.
Plain and simple.
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your council or your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen."
- Samuel Adams |
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natsb88
Administrator
USA
1850 Posts |
Posted - 05/09/2008 : 06:58:01
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quote:
Originally posted by hector6man
Cool, just found out that the 2009 penny will be Copper! SEC. 304. <<NOTE: 31 USC 5112 note.>> NUMISMATIC PENNIES WITH THE SAME
METALLIC CONTENT AS THE 1909 PENNY.
I read a couple articles and I think 'numismatic' is key there, meaning just the collector sets have the same metal content, not the pennies minted for circulation. They're trying to switch to steel already...I really can't see them minting tens of millions in 95% copper next year. |
Nate
The Copper Cave
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 05/09/2008 : 08:46:57
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| And for only $5 you can buy one of these "numismatic" pennies with the proper metal content. Just like the special Proof sets with some coins made out of the proper metal.. Silver. |
If your percentages are low.. just sort more. If your percentages are high.. just sort more.
Now selling Copper pennies. 1.6x plus shipping. Limited amounts available. |
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Flbandit
Penny Hoarding Member
USA
851 Posts |
Posted - 05/09/2008 : 15:56:20
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| Well, I would probably buy an '09 mint set if it came with the copper cent. |
Are you throwing that out? |
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hector6man
Penny Pincher Member
USA
129 Posts |
Posted - 05/09/2008 : 21:37:38
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| Me too! |
"Ninety-nine percent of the failures come from people who have the habit of making excuses." -George Washington
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hector6man
Penny Pincher Member
USA
129 Posts |
Posted - 05/09/2008 : 21:48:30
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Not A Big Deal here you go!
You must be logged in to see this link.
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"Ninety-nine percent of the failures come from people who have the habit of making excuses." -George Washington
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misteroman
Administrator
USA
2565 Posts |
Posted - 05/10/2008 : 00:06:37
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Damn That is alot to read.I'll just have to take your word for it.
Derek |
Buying CU cents!!!! Paying 1.2 unlimited amounts wanted. Can pick up if near Ohio area. |
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Topic |
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2009 Lincoln Penny
Forum Locked
