Why is it every time a "Newbie has a question about a Coin, it's always about a Penny ? I mean I'm only 7 months in but at least I've posted from old English coins to large Cents , Old Silver Coins and Newer Silver Coins . I'm not calling out anyone in particular . It's been on my mind for several Months . So, WHY THE PENNY ? Comments very welcome ! Don't be afraid to speak your words people of Coin Talk !!! ! Enjoy your .. Day ! Peace, Love, Joy !
Well, there are hundreds upon hundreds of billions of Lincoln cents out there, so, by the law of averages... This is one reason most of these topics induce a yawn from me. Even in the cases where it actually is a legitimate error coin, it's still a modern Lincoln cent. Common as grains of sand on a beach, in almost every case.
I'm thinking that most people have a jar or other vessel that they drop their change into. I'm also guessing that there are more pennies in there than any other coin. Eventually they see an infomercial or other get rich quick coin show put on by this generations carnival barker. The penny is the first one out of the jar.
In 1963, the minimum wage was $1.25 per hour. Back then, I guess most kids couldn't afford to accumulate too much more than pennies. When I got my start in numismatics, I was collecting Morgan dollars, but I made my money playing pool. Today, the minimum wage is $7.50 per hour, and most kids still can't afford to collect much more than pennies. I don't mind trying to help someone who wants to learn about numismatics, but when the newcomer to CT asks "What's it worth?" I get turned off.
Probably the least expensive way to get started in numismatics IMHO!! Champaign taste on a beer budget kinda thing!!! Plus with the zincoln cents they find a lot of anomalies they think will make them rich! LOL The other think is pocket change! You might get a nickel, dime or quarter but 3 or 4 cents. Don't want to discourage newbies so I say bring on the cents!!!
When I was 13 years old (1956) I was earning about $5 a day. You could get most all coins in change. For any year 1955 and earlier it would cost $2.73. For 1956 and up it would cost $1.82. For an active collector it would not be difficult to fill most holes in albums.
Wonder what were the odds of finding an 09,s v.d.b or a 1916 D dime back then well you actually had a chance.
I started with cents over 50 years ago. Didn't have the money to do much more. Years later I started making $1.86 an hour and was able to buy Lincoln's from the local coin shop. Today, I'm still a sucker for a nice Lincoln.
If it was released to circulation by the US Mint at anytime it was available in circulation. An example - I got an 1875 S Twenty Cent piece in change back in the mid 50's. I never did find an S VDB but I knew people who did. Still, the odds were long. Only collectors were interested in dates and mint marks. To everyone else a penny was a penny.