2009 Mint lincoln cent roll

LP1 had a total of 96,000 2-roll sets...
LP2 as of Sunday had 200,055 2-roll sets...

This is a flippers nightmare..........:headbang:

 

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TELL ME ABOUT IT!!!! :headbang: :headbang: :headbang::headbang::headbang::headbang::headbang::headbang::headbang::headbang::headbang::headbang::headbang::headbang::headbang:

 

my mistake. it was 200,000 set plus. not 400,000 set plus.

 

Reason for those figures is this time I ordered some extra sets through some family members. Oh well guess I can give a few away on coin talk.
Bill

 

Where are these numbers coming from?

 

Coinnews.net. Looks like my estimate of 300,000 is pretty close.

 

ENJOY

http://www.coinnews.net/2009/05/19/20-million-lincoln-rail-splitter-pennies-sold-in-four-days/

 

Ahh . . thanks. I enjoy having the URL. (I didn't enjoy the news, however, so much!)

 

Popular Mint proverb: What the Mint giveth, the Mint taketh away.

 

"The public, and collectors specifically, apparently had little objections in paying premiums for the rolls. In running the numbers and discounting shipping, the Mint has grossed a whopping $1.79 million ($8.95 x 200,055) for the pennies so far."

We had no problem paying the premiums because we thought they were only going to make 96000 sets like the last one. Now with over 200 freakin thousand sets, there is no reason to pay the premium. The mint has total destroyed their value.

"For the Mint’s part, a clear motivation was getting more pennies out to a demanding public. And to the Mint’s credit, they have not shut down sales of the coins. The action may help reduce Lincoln coin prices overall. After the first 2009 log cabin cent launch, prices for the pennies in the secondary market went (and are) much higher than original Mint prices."

If anyone read any of the same coin publications that I read, I got the feeling from all the reports that the mint was going to be scaling back production of their coinage and that the first Lincoln in the series was going to be the most abundant. Did anyone not get that feeling? So if that was the case, why didn't anyone predict this, that the mint was going to go into minting overtime and mint more cents than what we know what to do with?

Overall, it probably wouldn't have mattered. If you paid $8.95 for each set, you will probably still get your initial investment back, but what this has done has taken away from any possible profit that people could have made.

 

now the lincoln cent roll is dead ball. prices fall. see future bank roll worth $1.00 or less. the reason is simple. too many.

 

Just saw a 09 Roll O' Pennies sell for less than $3.50
(And there is almost no profit, once you cover shipping)

Well, now these pennies are not that popular, everybody has em', and the high mintages, bit everybody who bought, in the butt...

I guess I'm going to keep my order, and see how it goes!

 

a lot of cent roll with no bidder now.

 

Hello,
as of this am, the delivery date is now 7/15, I have mine coming 5/29 but I set there at noon thier time and spent 2 hours trying to get my orders in the moment they released them 5/14

Kim

 

Hello,
as of this am, the delivery date is now 7/15, I have mine coming 5/29 but I set there at noon thier time and spent 2 hours trying to get my orders in the moment they released them 5/14

Kim

 

I don't think the second release is going to do much but that should keep the prices up for the first release with only 96,000 made. Prices still high in Ebay for the first set. Glad I got my order in for those earlier.:thumb:
Reminds me of the Nickel rolls in 2004. Peace was the tough one then they kept making more and more of the later ones.

 

that is why i cancel it.

 

Well since I actually collect Lincolns I think I will keep my order in.

 

I think, frankly, that the flippers will still make some money -- just a lot less than they thought. I can't help but think that the price will take a sudden jump once the US Mint posts "Sold Out" next to that item. It's just that the jump will be less than for LP-1.

But, of course, if I could predict the future like that with any accuracy, I'd be a multi-millionaire many times over!

 

"A fool and his money are soon parted"....just an opinion... :kewl: