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2009 cent hoarders. Is this hurting the potential growth of the hobby?
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<p>[QUOTE="bhp3rd, post: 563664, member: 16510"]<b>They will get out but,.</b></p><p><br /></p><p><br /></p><p> </p><p>They will get out just wait - it was 11 months last year before I got the 08-D's by the box for face value and 5 months for the P's.</p><p>The mint (the way I understand it) does not send coin to anybody other than the 12 Fed Banks - that's the only way coin is monetized. It is not technically a coin until one of the Fed Banks pay the United States Mint (government) the one cent to complete the action. Then one of those 12 Fed Banks contracts with Loumis, Well Fargo, Brinks etc. maybe even before they ever take possession - they actually may not have to take physical possession has we know it. Then it trickles down to all banks as the need arises.</p><p>What we are seeing in modern times is Coin Star dumping tons of coin back through those same distributors so there is a glut of cents in the market. But rest assured, peoples habits do not change much - the cent is a "one time use coin". People get it as change carry it home and put it in a jar or whatever then in two or three years take all the accumulated change to somewhere and get their money back.</p><p>The only rare ones that may hold an extra value would be the ones released at the 4 ceremonies that are certified as such, maybe.</p><p>One more point - I'm not sure after saying all this how they (the cents) are monetized when the mint sells them at these ceremonies but I'm sure they have finagled a way. </p><p>__________________[/QUOTE]</p><p><br /></p>
[QUOTE="bhp3rd, post: 563664, member: 16510"][b]They will get out but,.[/b] They will get out just wait - it was 11 months last year before I got the 08-D's by the box for face value and 5 months for the P's. The mint (the way I understand it) does not send coin to anybody other than the 12 Fed Banks - that's the only way coin is monetized. It is not technically a coin until one of the Fed Banks pay the United States Mint (government) the one cent to complete the action. Then one of those 12 Fed Banks contracts with Loumis, Well Fargo, Brinks etc. maybe even before they ever take possession - they actually may not have to take physical possession has we know it. Then it trickles down to all banks as the need arises. What we are seeing in modern times is Coin Star dumping tons of coin back through those same distributors so there is a glut of cents in the market. But rest assured, peoples habits do not change much - the cent is a "one time use coin". People get it as change carry it home and put it in a jar or whatever then in two or three years take all the accumulated change to somewhere and get their money back. The only rare ones that may hold an extra value would be the ones released at the 4 ceremonies that are certified as such, maybe. One more point - I'm not sure after saying all this how they (the cents) are monetized when the mint sells them at these ceremonies but I'm sure they have finagled a way. __________________[/QUOTE]
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2009 cent hoarders. Is this hurting the potential growth of the hobby?
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