I am a regular roll searcher for many years now. I focus on $500.00 half dollar boxes, Jefferson nickels thru 1967, no 64's and the Lincoln cent up thru 1981. Over the last two years I have watched the number of 95% copper Memorial cents disapearing. When I first started collecting these it was not uncommon to get 40 90% Memorial cents to the bank roll, now as I search daily I see probably less than 10 Lincoln Memorial cents per bank roll. I realize the company in Ohio had learn to process the copper cents from the run of cents, but that's not legal anymore. I am sure their are others out there who are hoarding just a few for later use, but I bet their were in excess of 3b cents minted from 59-81. Where are they going? Is the mint secretly removing them from circulation? Makes me wonder, what is your thoughts? Will these become the next harder to find wheat cents?
I dont think its the mint, I think its people hoarding them or maybe even private citizens melting them down for bullion.
Are you suggesting that the government is hoarding copper? You can still find plenty of 40% silver halves in boxes (in spite of what others on this board have said). That being said, I would say that your basic premise is correct: After wheat cents, copper cents will be next on the rarity list.
Copper LMC's will vanish for the most part. I normally get about a 20% rate while searching, however, tonight I had a 30% rate on a fresh box, first 10 rolls. Not only that, out of those 10 rolls I got 11 Wheats....which is HIGHLY unusual. I avg about 8 Wheats per BOX, people are definately emptying the coin jars in this economy. Out of those 11 Wheats I got a 1916, 1926, 1928 and a 1936.....again, quite unusual, as I normally just find 40's and 50's. I think it will take awhile for the hoarders (like myself) and the scammers who illegally melt to clean out the supply....at least 5-10 years...as which point finding a copper cent will indeed be a rarity.
Further, I think that even non-semi-serious collectors will start saving LMC's, when, in 2010, the reverse to the cent will change. LMC's will gradually be like Wheaties, I would think. I.e. this, in combination with copper hoarders.
I hate to disagree with Borgovan, but in my last four years of searching $500. boxes of halfs, there is not an abundance of 40% or 90% halfs. I usually find 1 90% and 5 to 7 40% halfs. I have noticed in the last year the 40% are not as plentiful as say 5 years ago. As for the LMC thru 81, I am guilty of hoarding. I have currently hoarded probably 450 pounds, but besides being 95% copper, I have found almost uncirculated cents from every year 59-81. The last six months have been great as the economy has caused people to clean out their loose change and turn it in. The very nice lady at the bank calls almost daily asking if I want to searc the cents brought in by the locals. I am not finding as many wheaties but the condition of the cents being as old as they are, are in suprisingly in great condition. I guess who ever inherits my collection will be able to sell LMC by the bag in 2030 or so for a great return. personally I have no interest in selling them, this will be my retirement project, to sort and roll by date and mintmark. but I would still say for the searcher or new collector, the Jefferson nickel series holds the best opportunity to collect from pocket change.
Why do all you guys only collect copper to 1981? I think the majority of my copper coins are 1982's, it was a HUGE production year. I search for varieties, errors and nice red BU/AU coins too. I have nearly completed a roll set from 1980 -2008 simply by cherrypicking as I search. In fact, lately I'm a lot more into plucking out the BU/AU red coins....it's pretty exciting to find a nice, red MS 1980-1990 LMC! It's even more exiciting to complete rolls of them for a cost of 50 cents.
Shhhh!!! I have about 50 thousand of them in various plastic jugs, boxes etc. And several hundred wheats dating from 1909 VDB to 1958 to show for the effort of hoarding them out of the $25 boxes bought at the bank.
What a great idea! So . . . I'm still learning so go easy on me . . . I just got this one in change today. Would it make your AU list? (Please note: I use a cheap $100-printer-copier-scanner for all my pix) If not Unc or AU, why not? (Thanks!) (yes, I see the nasty gash marks . . . but little to no wear, no?)
I have a couple hundred Wheat pennies in a box here that my grandfather saved. I've never actively collected them or really cared about them but if I find one in change, I throw it in the box with the rest. I don't know why. It's my duty I guess.
I know the price for copper has dropped over the past few months. It was up to 3.45 a pound for scrap!
Could be they just don't want to make the effort of trying to distinguish the difference between the Copper and the Zinc cents.
"I hate to disagree with Borgovan, but..." I think we just differ on a semantic basis. I average five to ten 40% halves per box, with the occasional 90% thrown in; roughly the same as you. I consider that to be "plenty." I mean...making $10-15 profit just for searching a $500 box? It takes like 1/2 hour. What exactly do you want??? I mean, it's not like I spend a ton of time searching these, but it's fun, and it's a decent payout. I agree on the Jefferson nickels. Early dates are still plentiful.
I agree that I don't spend about 30 minutes searching a $500. box. although I do look at every coin briefly, been lucky to find a few proof silver halfs. I don't collect any roll searched LMC past 81 because I kept a few thousand 82's but I have not developed an interest in the zinc version. I found a 82 LMC last week without the copper coating, I would guess it might be refered to as an mint error, so I put it on over in the collection bucket. Better go, got $38. worth of rolled LMC to finish tonight and just got one of my favorite coin mag in the mail today.
