Too interesting to not question

Haha I collect every example of penny that still has a nice petina to it. The ones with very little scratches. I keep the brown 82 and below, not for melting but for collection. I feel if the government allows melting down of the copper penny, collectors might pay a little more for the brown nice examples/ almost flawless no matter what mint state condition it is. It will make me sad when they do allow the melting down because I'm thinking about them wheaties.

 

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You are talking about them not collecting anymore right? Like they give up?

 

Like they give up breathing. Shuffle off the mortal coil. Give up collecting? As if they could. I see "beaucoup" estate sales. Very few collectors ever stop. They change focus, maybe, but very few stop until ill health commands it.

 

Most of the estate sales do not have any coins, the family either takes them or they are shuffled off to the local dealer, I mostly find Exunomia not much of anything else.

 

In my neck of the woods, coin laden estate sales are a nearly weekly thing - frequently several on any given Saturday. It's an embarrassment of numismatic riches in south central Pennsylvania. Green Dragon Farmers Market has a coin auction EVERY Friday evening, but that is primarily lesser material.

 

Must be an east coast thing. Wish there were more of them here. I refuse to buy from photos.

 

I think you're spot on about the east coast, especially northeastern and RURAL.

 

@V. Kurt Bellman Kurt Gonna keep my eye out for you! at the ANA in Denver. The Hat usually only comes out in the winter here, so I will try for my red Coors cap.

 

For a little "Back on topic" time - I was thinking initially the cent may have been a roller issue, especially the obverse, but the T in Liberty makes me think PMD. So, IMO, close, but no cigar.

@Tyler Graton - there are no stupid questions. If it wasn't for these types of questions, others that come along wouldn't be able to find an answer. It's all about the learnin', son!

@V. Kurt Bellman - I'm not a young or new collector, but I am a 're-newed' enthusiast after about 30 yrs of being away from collecting. I have my own theory about your question, and while Tyler's reply was specific to him, I think I have a more generalized answer.

For the younger collectors, everything 'old' (insert an age you consider old), is pretty expensive. I think many want to collect the older stuff, but the expendable cash for hobbies is limited in most cases. Look at the cost of an average condition teens wheatie, or IHP, SLQ, WLH, etc. Buy 20 of them, and you may have to eat ramen for a week on a typical 18-30 year old's salary.

So what is affordable nowadays for the young numismatist? When I was a youngster, I could still find wheaties in pocket change, and even the occasional silver coin. It would cost me face value. So the new numismatist is looking at their pocket change and saying "But there are billions of this penny/nickel/dime/quarter out there, it'll never be worth anything more than face". And that's pretty true.

So what can they look for that's different, not as common, and may have true numismatic value? Errors. I really believe that the only modern numismatic material (coin and currency) that will ever have any value are those with errors. I find it hard to believe that a 2017-P Lincoln Shield Cent will hold it's numismatic value or interest in the long run. Maybe I'm dead wrong, but if I were just starting in this hobby, I'd be looking at every coin for errors, and not much else.

Even the moderns that pull a 70 at a TGP are becoming more frequent, which makes them more common, which can make them less valuable. Look at how relatively small of a premium one has to pay for a 67, 68, or even a 69 with moderns.

I may be way off base on some of this, but that's my theory on why the new numismatist seems to always be looking for the oddball coin, rather then the perfect one. Me, I like 'em all!

 

The lines in the planchet, are extremely deep, these lines are seen on most all MS mid to extreme late die state cents. I am not sure if it is die related, or if it is planchet related. But I imagine it is a bonding issue. Copper and zinc are not a good match, but Texture allows for a better bond. That's my theory and I am sticking to it.