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<p>[QUOTE="cladking, post: 3123539, member: 68"]I know it seems like they would last as long but money's only value is what people believe it to be worth. This is simply the nature of all money and always will be. Circulation of money is a complex interplay of a random walk and the aggregate beliefs of those who use it. </p><p><br /></p><p>People believe pennies have no value so they are dropped and left. They are thrown in the trash. They are allowed to accumulate by the bucketsful in the home. Meanwhile there is the passage of time where houses burn down or flood and the pennies in circulation get dropped behind car seats. When the belief is that something has no value it is far more likely to end up where it is lost or destroyed. </p><p><br /></p><p>While collectors still pull wheaties out of circulation and put them in safer places this isn't happening with memorials. Wheaties barely circulate at all because they are continually being separated out and then sitting for years. Memorials are being whittled away. </p><p><br /></p><p>Of course the odds of memorials literally becoming scarcer than wheats is improbable because such trends can't last forever. Eventually some semblance of sanity will appear and pennies will be withdrawn. Most people won't bother to return their cents because they are worthless in any quantity so many memorials will survive. But there are still going to be a lot of specific dates that are tough because they are already tough. Even the survivors will continue to decrease in number at about 1% annually (higher initially) and the zincs will continue to rot away. </p><p><br /></p><p>I believe the real key to the series will prove to be the 1984. This will be common in commercial "unc" but nice attractive specimens with good surfaces will be very scarce. Several other dates like the 1968 are already tough as well. People don't know because they are told the high mintages make them all common. </p><p><br /></p><p>Every year about ten billion memorials are lost and another fifty million wheaties are lost. This 200 to 1 ratio is going to increase before it decreases.[/QUOTE]</p><p><br /></p>
[QUOTE="cladking, post: 3123539, member: 68"]I know it seems like they would last as long but money's only value is what people believe it to be worth. This is simply the nature of all money and always will be. Circulation of money is a complex interplay of a random walk and the aggregate beliefs of those who use it. People believe pennies have no value so they are dropped and left. They are thrown in the trash. They are allowed to accumulate by the bucketsful in the home. Meanwhile there is the passage of time where houses burn down or flood and the pennies in circulation get dropped behind car seats. When the belief is that something has no value it is far more likely to end up where it is lost or destroyed. While collectors still pull wheaties out of circulation and put them in safer places this isn't happening with memorials. Wheaties barely circulate at all because they are continually being separated out and then sitting for years. Memorials are being whittled away. Of course the odds of memorials literally becoming scarcer than wheats is improbable because such trends can't last forever. Eventually some semblance of sanity will appear and pennies will be withdrawn. Most people won't bother to return their cents because they are worthless in any quantity so many memorials will survive. But there are still going to be a lot of specific dates that are tough because they are already tough. Even the survivors will continue to decrease in number at about 1% annually (higher initially) and the zincs will continue to rot away. I believe the real key to the series will prove to be the 1984. This will be common in commercial "unc" but nice attractive specimens with good surfaces will be very scarce. Several other dates like the 1968 are already tough as well. People don't know because they are told the high mintages make them all common. Every year about ten billion memorials are lost and another fifty million wheaties are lost. This 200 to 1 ratio is going to increase before it decreases.[/QUOTE]
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