Here they come!!!

mikenoodle · 04-30-2009, 02:52 PM

As some have expected the new 2009 cents are starting to become available at your local bank. Watch the prices start to plummet on eBay over the next few weeks and realize the lesson this offers:

Coins can become very hot and cold mostly depending on supply. When a new coin is released and it's extremely hot, realize that the prices will be very steep for a time, but eventually settle as the supply becomes available.

This "flavor of the month" mentality is often used as a tactic to prey upon unknowing collectors. Over time most learn this lesson and hopefully they don't lose too much on their education.

Maybe by pointing this out, I can help further someone's education at no added expense.

Sholom · 04-30-2009, 03:20 PM

I agree with your comments. It seems that waving the flag of "sold out at the mint" is like waving a red flag in front of a bull. Everybody panics that they just "missed out" and prices go sky high.

I've seen the trend in two other coins: Harrison Dollars (low mintage, sold out at the mint) going for around $100 each (in a mint roll); and the DC quarters ((low mintage, sold out at the mint, going for around $80 per P&D set.

Notice to would be "flippers" -- it might be a good time to get the PR quarters at the mint, wait until they sell out (and they surely will, probably within another month or two at the most) and prices will rocket up -- then settle later.

Mint wrapped Log Cabins? They were going for, what $50-$70 per set on eBay? And "regular" rolls were going for around $5 to $7. It'll be interesting to follow the price over the next few weeks.

One lesson I've learned here . . . . if you can still get Mercury dimes or Indian Head cents from a gazillion different places for $1 ea . . . you will surely be able to get coins minted in 2009. When things are hot, all that's needed is patience. Indian Heads are over 100 years old, and they are still around. Nobody will "miss out" on the 2009 coins by waiting until hoopla dies down.

4everNana · 04-30-2009, 05:09 PM

Quote:

Originally Posted by mikenoodle

As some have expected the new 2009 cents are starting to become available at your local bank. Watch the prices start to plummet on eBay over the next few weeks and realize the lesson this offers:

Coins can become very hot and cold mostly depending on supply. When a new coin is released and it's extremely hot, realize that the prices will be very steep for a time, but eventually settle as the supply becomes available.

This "flavor of the month" mentality is often used as a tactic to prey upon unknowing collectors. Over time most learn this lesson and hopefully they don't lose too much on their education.

Maybe by pointing this out, I can help further someone's education at no added expense.

Being a new collector, it's so hard at times to put on the brakes and not just jump at every "last chance" offer. Great advice, thank you for sharing!!!