I think I might buy a hundred of those new penny rolls.......

So a few weeks ago I saw on ebay that the new Lincoln rolls $10 ($1) worth of pennies going for $50+. It was at this point I felt the sudden urge to sit down at my mothers nice oak table and start slaming my head down on it repeatedly:desk:.Does everyone not know that they are pay an extra $40 for paper? I say again "PAPER". I paid ten dollars for 100 pennies and I felt ripped off, Imagine some of the people who paid $50 for the P and D rolls.


Well, if logic goes out the window, should we all order as many of the next set of rolls as we can and sell them off on the secondary market before the public realizes they are only paying for paper?


Any comments are welcome.

 

Log in or Sign up to hide this ad.

You just have to love Numismatic thinking. L0L

 

The second of the series will have a five set limit(P & D). So expect even higher prices in the secondary markets. The lack of distribution of the first cent to banks left many collectors "pennyless". I think the mint rolls will always carry a big premium, justified or not.

 

Penny rolls are $0.50 FV

 

Yes I believe that each roll contains 50 pennies. You get 2 rolls($1) for $8.95 cents, assuming you bought the specially rapped ones. I do not understand your post. Or is it a question?

 

Oh, I see now. I didn't understand your previous post but I see that you meant what the mint was selling the cents for. I thought you were talking about the cents being in a $1 roll. Just ignore me, I just woke up.

 

One of the major variables will be how many rolls does the mint produce?
The first one sold out quickly ..will the second or has the mint anticipated the demand and rolled a ton more cents this time which will aloow more folks to only over pay a smaller amount that getting them off ebay.

Once the mint sells out of rolls...the race is on at ebay.

I'm going for it and having all my friends neighbors and family order their limit 5 rolls from the mint. It's a lot of work but to get a $40 profit on a $10 investment is a pretty good return.


The real money comes on Thursday when I line up for the release day even exchange. Limited to 6 rolls... you know they might fetch $100+ a roll instantly on ebay. I'll sell individual cents in a flip for $5.00 each ..making my profit $249.50 a roll.

Let the games begin...woooo hoooooo !

Hmm..

6 rolls at $100+ = $600
6 rolls sold one coin at a time for $5 each = 300x5= $1,500.

 

The mint is on to something! Maybe the failing car manufacturers should follow suit and not produce enough autos to go around, and have really bad customer service. Then people will spend ten times what they should for their new set of wheels. Just kidding, I really wonder how the mint does it sometimes!

 

Andrew:
The best of luck!
Hopefully you will be able to eliminate this recession all by yourself.

As for me?
I don't own even one, haven't gotten one yet, and oh, well, I'll just wait for one in my change.





Or not.

 

It's called a monopoly my friend. One of my favorite board games as well.

 

Thanks. My family has been hit extremely hard by the recession/depression and every little bit helps. I'm just thankful that there are those out there willing to overpay for ordinary pocket change. It's a blessing when I needed it most.

 

I think Thad has written some good responses on this subject. It's like people who stay the night at a ticket line of a very popular band and the band sells out in an hour. They sell on the secondary market 2-5 x face value. They are paid for their time and persistance. Anyone who takes off work or calls 200 times the first couple days to get the coins deserves to make some money off those not willing do any work. Some people drove to Indian? for the first issuing of the first design of the Lincoln 2009. I am sure that costs a lot of money and time for some. People will pay what ever the highest bidder brings it up to. Supply and demand. People think back to the 1909's. Imagine if you lived then? How many rolls of the S VDB would you have bought and what would have been unreasonable? To us at this time- no inflated price would have been unreasonable.

 

In Bower's book on Abe Kosoff, Abe writes that in 1950, a man came into his gallery with a roll of Uncirculated 1909-S VDB cents which he bought for $250 total. Later the same guy brought in 2 or 3 rolls for same price. He wouldn't give any details, but there was a rumor someone had a cache of 800 rolls of 1909-SVDB. Then the guy came back wanting $5.50 per coin rather than $5, and then more later at $6, and then at $6.50 where Abe said no more. The guy left and never came back. Abe tried to find him later for more rolls, but the address was fictitious. Never found him again.

Interesting story. If you were offered a chance to buy a cache of rolls of 2009P cents, what would you do? No need to answer literally unless you want.

Jim

 

Great story Jim. Serves the point even better. I am not selling any of my rolls right now.

 

nice one Jim

gr8 story Jim...how true

 

Wow, I'll take all those rolls I can get for $300/roll! Great story.

Just a little interesting math:
1909 population estimate: 90,490,000
1909 S VDB mintage: 484,000
1909 S mintage: 1,825,000
1909 mintage: 72,700,000
1909 S VDB/person: 0.0053
1909 S/person: 0.02
1909/person: 0.8

2008 population estimate: 304,000,000
2009 P mintage (1st design) : 284,800,000
2009 D mintage (1st design) : 350,000,000
2009 P/person: 0.94
2009 D/person: 1.15

 

xtrmbrdr...thanks

xtrmbrdr..nice stats.....gr8 thought....loke the post :thumb:

 

Better than $50.00 a roll

This were you think it is a better choice to buy the US Mint P&D type 1-4?
I may go that route.and make sure I have the complete roll sets.

 

you can have it from the dealers at $2.00 a roll. and soon it gonna down to $1.00 a roll.

 

Bowers seemed to think it was true. Looking at catalog sales then, it wouldn't be unreasonable for the time. I suspect the vast majority of coin collectors then were young people who couldn't even afford a retail 09svdb unc. @ 10.00. I was collecting lincolns at that time as a youngster and I couldn't afford the $1 for a 1931-S unc I was offered. I am sure most old timers have similar stories.

Jim