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2009 cent hoarders. Is this hurting the potential growth of the hobby?
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<p>[QUOTE="coppercoins, post: 563682, member: 152"]1. I'm not sure who you heard it from that the plan was to release these coins in an effort to spark new collectors. The actual effort by the Mint was to take the cheapest coin to make and way overprice it to collectors to make a ton of money. End of story.</p><p><br /></p><p>2. It is often three to five months before cents start really showing up in circulation. Considering we are one month into its release, I would think it be normal for them to not show up in any quantity until late May through mid June. Just be patient.</p><p><br /></p><p>3. Anyone who spends more than 50 cents per roll for the 2009 cents is spending too much. They will be readily available at the banks soon enough, and for the record, banks are not allowed to sell 50 cent rolls of cents for more than 50 cents. So the idea that you've never 'seen them do that before' means you've never seen them selling statehood quarter rolls at $10?</p><p><br /></p><p>4. There will be some issues of the new Lincoln cents that will always be in low supply and high demand - but the ones you are going to find in change are NOT the ones that will bring nice profits. Some time somewhere the mint will come out with a special mint set with brass composition cents that will go largely missed by collectors, and THOSE will steal the show for value later on. The ones you find in change will remain pocket change worth one cent per coin for a number of years to come.</p><p><br /></p><p>5. I attended a show this past weekend and saw for myself the wholesale lack of understanding among the collectors eagerly giving $5-$8 per roll for 2009 cents, thinking there was some 'rarity' to them. Made me sick, actually. I saw over 100 rolls sell for these outlandish prices. I even heard a dealer or two claim that the coins are going to be limited and not to expect to see them in circulation at all. It's fun being who I am sometimes - people don't recognize me by face alone, so they tell me just about any crap story any flat beginner collector would believe...until I tell them who I am and what I have done with the last 30 years of my life...then their stories instantly change.[/QUOTE]</p><p><br /></p>
[QUOTE="coppercoins, post: 563682, member: 152"]1. I'm not sure who you heard it from that the plan was to release these coins in an effort to spark new collectors. The actual effort by the Mint was to take the cheapest coin to make and way overprice it to collectors to make a ton of money. End of story. 2. It is often three to five months before cents start really showing up in circulation. Considering we are one month into its release, I would think it be normal for them to not show up in any quantity until late May through mid June. Just be patient. 3. Anyone who spends more than 50 cents per roll for the 2009 cents is spending too much. They will be readily available at the banks soon enough, and for the record, banks are not allowed to sell 50 cent rolls of cents for more than 50 cents. So the idea that you've never 'seen them do that before' means you've never seen them selling statehood quarter rolls at $10? 4. There will be some issues of the new Lincoln cents that will always be in low supply and high demand - but the ones you are going to find in change are NOT the ones that will bring nice profits. Some time somewhere the mint will come out with a special mint set with brass composition cents that will go largely missed by collectors, and THOSE will steal the show for value later on. The ones you find in change will remain pocket change worth one cent per coin for a number of years to come. 5. I attended a show this past weekend and saw for myself the wholesale lack of understanding among the collectors eagerly giving $5-$8 per roll for 2009 cents, thinking there was some 'rarity' to them. Made me sick, actually. I saw over 100 rolls sell for these outlandish prices. I even heard a dealer or two claim that the coins are going to be limited and not to expect to see them in circulation at all. It's fun being who I am sometimes - people don't recognize me by face alone, so they tell me just about any crap story any flat beginner collector would believe...until I tell them who I am and what I have done with the last 30 years of my life...then their stories instantly change.[/QUOTE]
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2009 cent hoarders. Is this hurting the potential growth of the hobby?
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