The last Penny auction Stacks and Bowers

The last penny with dies is at $290,000 I viewed 1-232! Crazy Tried to delete thread after seeing me and you post! Beyond my abilities! Big surprise

 

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The set I bid on is now at $30,000.00.
My bid was $3500., but I knew I would get outbid, but that is crazy money.

 

It's crazy because the mint just released their 2026 offerings and of course, there's a non circulating cent. So technically they might be correct that these are the last "circulating" cents, but not the final ones ever.

I also think it's ridiculous the mint didn't care enough to produce these extremely limited cents, so much that there isn't a single 69 or 70, correct? I'm nit entirely sure if what the highest graded examples are.

 

Right look at DWHIZ thread above isn't there a 1776-2026 comm penny for 2026 release?

 

My criticisms of the mint’s conduct has drawn mostly score on the PCGS site, but I don’t care. This is completely unfair to the small collector. The mint has been paid for by our tax dollars. All collectors should have a shot at the zinc and copper plated pieces at a reasonable prices. Let the millionaires fight over the gold pennies if they like. This whole thing stinks.

 

If the $300,000 bid holds up, the government will be collecting about $71 million dollars from this. That’s like a rounding error for the government. The mint has become a greedy government entity. Shame on it.

 

$300k is only being bid on the final lot #233.
The other lots are, so far, in the $30k-$40k range each.

So:

Lot #233 = $300k
All 232 other lots = ~$50k on the high, very high side = ~$12,000,000.

Let's say with live bidding today the high side might be $20,000,000 to the Mint.

DEFINITELY a rounding error. But certainly not $71,000,000.

 

That almost covers the loss's for last years Cent production.

 

And people think that I’m crazy. Ha!!

 

John,

I stopped years ago buying recent U.S. Mint productions. Basically, I regard them as being like the Franklin Mint, and regard recent issues from many other government mints the same. I have no problem with what they are doing as long as they’re honest and make a profit. My collecting interest in U.S. coins stops at 1947 (last walker date).

Mike

 

I love your thinking mint, gov't state budgets! all sound familiar

 

Yes, but you should think of other collectors. My interest in new mint issues is limited to a silver Proof set every year. For that I pay an exorbitant $150 +, and it will undeniably higher up next year because of the increase in the price of silver.

One year they charged $125 for a set with five quarters in it. The next year it was still $125, but there were only two quarters in it.

I don’t care if the mint makes a profit or not. It has abandoned the young collectors. Years ago the mint issued two page cards with the current year’s clad commemorative half dollar in it for like $10. Now the mint wants over $50 for a clad coin. That is not young collector friendly. That is price gouging.

The mint has a natural monopoly, and it is taking full advantage of it. You and I shall agree to disagree. The mint is no longer collector friendly. It is ripping the collector off. A dealer can’t get away with doing that because collectors have alternative sources. With the mint, you only have the secondary market.

 

Looks like an average set so far has sold for $48-70k. Bids seem to have gone up as fewer lots remain. Interest is going to quickly fade when the next shiny object (aka manufactured "rarity") come along, and I predict a lot of people losing a substantial chunk of money.

 

It doesn’t matter. Whatever the government gets out of this unfairly run enterprise, it is an insignificant amount of money for the government.

As I said before, all collectors should have a fair short at the base metal zinc and copper plated cent. It seems that you disagree. I hope that the government bureaucrat who dreamed up this scheme does not get a bonus. It will only encourage more bad behavior.

 

jm, I stopped buying Mint releases about 8 years ago. Their collector gouging pricing offended me for the last time with my purchase of the 2016 1/10 oz gold Mercury coin. So I totally agree with you.

My post was meant to keep it fair. I'm no fan of the Mint, but they're not making $71MM on this sale. I'll bash them with everybody here. But I do believe in keeping the numbers factual. They do plenty to give us ammunition to berate them. No need to misstate the facts.

 

Enjoy it while you can, your Hiers will be ecstatic at the profit. "Happy days are here again." Not to worry though you won't be here to see it, I think!

 

Yep you're right greedy as hell, makes me want to say something political but I won't, I know better!

 

I'm cranky enough to imagine that that "bonus" was paid in advance, around the time they were trying to decide who would run the auctions.

 

The secondary market is generally superior - MUCH lower prices after things cool off. I could take a young collector into my LCS with $20 and they'd walkout with a bag.