how are the dealers getting the cents

local dealer had over 300 boxes of both of the new cents, yet my bank says they can only get 1 box from the federal reserve branch for the entire bank which has 7 branches, call to federal reserve shows they have no concern on how the coins are distributed. calling my congressman, others should do the same, collectors screwed again while dealers are getting rich!! investagation, seziure of coins from these theives is needed!!! anyone in the know on how this is being done????

 

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Most Dealers/Banks order their boxes from their armored car services who get bags from the reserve and roll/box them themselves.

Ideally you would want one of the bags before they get tossed into the rolling machines for the best shot at a high grade coin.

 

Yes it is simple and though not to fair it is the "name of the game"

Yes it is simple and though not to fair it is the "name of the game" and "the nature of the beast"!


It was June before I got my first bank box of the new Lincoln's (2nd issue "P") and August first before I got all 4 new coins P&D in quantity.
In Knoxville the first batch to hit local banks was the second issue "P" mint.
I got those at face value the others at about double face as the "D"s are tough in this area and the log cabins still scarce.
It was the same with state quarters for the most part.
How do we, or how does "that" dealer do it???
Like all items he/we make calls, educate ourselves, ask friends, make calls, have established contacts, build a reputation for certain types of items, and drive from bank to bank and yes some people do have friends at the Fed or private counting firms like Brinks who get notice of such a head of time.
Is it fair, well, it depends some times yes, sometimes no. Is it the way most coin dealers operate, yes.
The fault of all this is the mint and CoinStar. The mint for not understanding collectors desires and CoinStar for flooding the market with turned in coin thus reducing the need at the Fed level for coin orders.
Do not worry in a year from now you will be using the boxes for doorstops.

 

At a coin show a dealer that has new coins as soon as they come out told me the best and cheapest and fastest method to aquire new coins of any kind is to work in a bank. Have many relatives that work in banks.
Naturally another method would be to become a bank robber. And when you do, make sure you demand only new coins.

 

I have really attempted to stay away from this latest hype thingy.

Can I get'em? Yep.
Do I want to? Nope.

It will calm down, and everybody will get their set of Abes. Relax. Take a walk, go ride a bike, the coins will be there when the hype dies down.

I simply choose not to jump in on the many hyped moderns......silver mules, Abes, MS-75 Super Duper Extra Super Cameo 1st minute of issue, etc etc

I have seen coin dealers at shows with 2009 Lincolns in 2x2's priced at $1.99 each. I shake my head and thank my creator I am not that desperate and morally bankrupt to have to stoop to such levels to feed my family.

 

my wife works at a bank and

and I still get only 1 coin!! federal reserve was supposed to monitor the distribution of these coins so it would be fair, the bank really can only get one , called the armored car company they use and they really only got 1 for each bank, these boxes of cents came out of a chicago federal reserve so yea talk about corruption some one got paid off, still calling my senator and congressman to look into this crap!!

 

ive got 2 rolls and a half of the 2cnd coin p and d
and 3 coins of the 1rst one

i just look through my change and get mine

 

rolled searched over $200 cents

found 2 log cabins, 4 formative years, 34 wheats and around $75 in copper cents, log cabin cent is going to be a hard one to find, dealers are never going to lower price on this one,

 

I totally agree with Arizona Jack.....:bow::bow::bow:

 

I have not seen any 2009 coins in circulation in Maine.

 

Nor have I in pennsylvania. anyone care to share?

 

give something to the person in charge.

 

Here in Ohio I have been searching rolls and have been finding the new lincolns on average of 1 per roll. I found 1 roll with six in them. Just be patient.

 

There's no corruption, the new cents are not much needed for commerce yet, so you don't see many. Like everyone else said, patience, there will be billions of them for the taking in time. :smile

 

I've found 9 logsplitters in my change the last month or so........

 

The log cabins are just now starting to show up here in change, the rail splitters have shown up much more often. The banks appear to be letting the log cabins out or the FED is releasing them slowly- I dont know. Going to Springfield next week if all goes well.

 

Here in Kalifornia, we are still waiting for our 2009 peso's. Traci

 

I got two in log cabin pennies in change when i was in california on business, I've seen two DC quarters and a Guam. that's it. FOUR coins and it's august already. I did find a beautiful shiny 2008 memorial cent the other day.

 

Log Cabin D's are very common in change, I saw a checkout clerk break open a new roll of LC's at the store (wish I could have stopped her first!) I can get most any clad coinage I want at the casino's in Reno! Just pop open the rolls and scan for the good stuff and then turn what's left into the cage cashiers and get more rolls to open!! I live up at Lake Tahoe so it's not far at all to Reno.

 

True, but how do you handle a one ton bag of cents? And for the dealers using that method, how many of those bags do they have to purchase and hold out of circulation until the Fed reserve branch bank is drawn down enough that the new cents are actually being shipped out? Remember they ship out circulated first then any older Unc they have on hand and then the new coins. What do you if you have to buy ten or twelve one ton bags of cents before they start shipping the 2009's to you?