Copper Lincolns being horded?
Beanie
circulation.
Gresham's law in action, I suppose.
mazorj
"Beanie" <b...@ea.ne> wrote in message news:ilqtqb$4n6$1...@speranza.aioe.org...
> It may just be in my area but it seems pre-Zincoln cents are disappearing
> from circulation.
> Gresham's law in action, I suppose.
A well-known coin blogger owns a number of coin redemption machines. In
addition to the percentage fee and the occasional semi-valuable coin, all
pre-zinc cents are harvested and sold at a premium to distributors. No
telling how many other systematic copper pullers there are out there.
Beanie
"mazorj" <maz...@verizon.net> wrote in message
news:iltc83$lfr$1...@news.eternal-september.org...
>
> "Beanie" <b...@ea.ne> wrote in message news:ilqtqb$4n6$1...@speranza.aioe.org...
>> It may just be in my area but it seems pre-Zincoln cents are disappearing
>> from circulation.
>> Gresham's law in action, I suppose.
>
> A well-known coin blogger owns a number of coin redemption machines. In
> addition to the percentage fee and the occasional semi-valuable coin, all
> pre-zinc cents are harvested and sold at a premium to distributors. No
I harvest pre-Zincolns from those pennies I get in change and find the ratio of
Zincolns to Lincolns to be about 20 to 1 based on casual observation.
Richard L. Hall
even doing a count and distribution for them although I gave updoing that a
while ago. But, this is what it looked like in about 2002 or so.
http://coins.richlh.com/CentDist.htm
And these are the mintages for those memorial cents.
http://coins.richlh.com/CentMintages.htm
Last November, I got 40 rolls of cents from my local bank. There were 7
wheats, 520 Cu-based. a dime and a Canadian copper cent.
Overall, I would guess I have about 60 rolls or so of the Cu-based cents.
--
Richard
http://www.richlh.com
Faced with the choice between changing one's mind and proving that there is
no need to do so, almost everyone gets busy on the proof.
- John Kenneth Galbraith -
"Beanie" <b...@ea.ne> wrote in message news:ilqtqb$4n6$1...@speranza.aioe.org...
Bob-tx
"Richard L. Hall" <richl...@comcast.net> wrote in message
news:ilupkq$8so$1...@news.eternal-september.org...
What a dumb-ass I have been. For well over a year, I have been putting one
roll of wheatbacks into circulation a week.
A coin dealer told me he would pay 2 cents for mint-marked cents in the
teens and 20's. Also, a cent and a half for non-mint-marked cents in the
teens and twenties, as well as for mint-marked cents in the thirties. All
else was face value. I figured that for this nothing price, I would
circulate them with the hope that some kids would find them and maybe get
interested in numismatics.
I still have lots of cent rolls that contain no key coins. Where can I sell
them?
Bob-tx
Beanie
"Bob-tx" <No Spam no contact> wrote in message
news:4d8355bd$0$4328$bbae...@news.suddenlink.net...
into circulation a week.
>
> A coin dealer told me he would pay 2 cents for mint-marked cents in the teens
> and 20's. Also, a cent and a half for non-mint-marked cents in the teens and
> twenties, as well as for mint-marked cents in the thirties. All else was face
> value. I figured that for this nothing price, I would circulate them with the
> hope that some kids would find them and maybe get interested in numismatics.
>
> I still have lots of cent rolls that contain no key coins. Where can I sell
> them?
A dealer has been running a full page Wanted ad toward the back of Coin WOrld
for some time now.
He offers $1.50/roll for wheaties.
Richard L Hall
"Bob-tx" <No Spam no contact> wrote in message
news:4d8355bd$0$4328$bbae...@news.suddenlink.net...
>
>
A couple of years ago, a neighbor had a yard sale and a father and his three
kids aged 11-14 asked if he had any coins for sale because the kids'
grandfather had given them some coin books. He didn't. But he brought them
over to me and I let them go through my 20 rolls or so of wheats. I let
them take the cents home with them. A month or so later they came back and
offered to buy them so I sold them for $1 per roll. Both the kids and the
father have become real enthusiasts, going to coins shows and auctions all
over the place. They often come over to show me what they bought. The
youngest once called me from Pennsylvania to tell me what he had bought. I
sold them a lot of other coins, often at what I paid for them. They also
bought my broken rolls of BU wheats and several rolls of BU memorials paying
CDN Buy prices. They invited me for Christmas dinner and gave me a few
coin presents.
The youngest called me the other day and said they would like to come over
this weekend and show me what they had bought. It is fun for me and fun for
them.
>
> A coin dealer told me he would pay 2 cents for mint-marked cents in the
> teens and 20's. Also, a cent and a half for non-mint-marked cents in the
> teens and twenties, as well as for mint-marked cents in the thirties. All
> else was face value. I figured that for this nothing price, I would
> circulate them with the hope that some kids would find them and maybe get
> interested in numismatics.
>
> I still have lots of cent rolls that contain no key coins. Where can I
sell
> them?
>
There is a dealer, Covina Coins and Jewelry, in California who advertises in
Numismatic News "Buy" section who says he buys cents as well as other coins.
He runs a 1/4 page or larger ad every week with buy prices. In his March 1,
2011 ad he lists the following prices for cent rolls:
"Teens" 1c rolls -- $8.00
1920's 1c rolls -- 4.75
1930's 1c rolls -- 2.75
"S" 1c rolls -- 2.40
Wheat 1c rolls -- 1.60
Steel 1c rolls -- 7.75
Cull Wheat 1c rolls -- .90
The ad says 50 roll minimum
The ad lists a web site http://www.covinacoin.com although I couldn't access
it this morning. You might want to give them a call. I sent them some coins
a year or so ago and the only drawback was it took about 2 months to get
paid. They said they got a lot of shipments and were running way behind.
With the postal service and its "if it fits it ships" ad, you may be able to
send quite a number of rolls for minimal cost.
--
Richard
http://www.richlh.com