Lincoln Cent Birthplace Roll Set Pricing
Today, the US Mint officially announced the Lincoln Cent Birthplace Two Roll Set offering. Last week, entries for the roll sets had been added to the US Mint's 2009 Product Schedule, but pricing for the offering was not revealed.
The Two-Roll Sets will go on sale March 13, 2009 at 12:00 Noon ET. Each set will contain one roll of 50 coins from the Philadelphia Mint and one roll of 50 coins from the Denver Mint. The Lincoln Cent rolls will have custom designed US Mint wrappers. The roll sets will be priced at $8.95.
I thought that the rolls would be priced lower than this. When the US Mint had previously offered Two-Roll Sets of nickels, they had been priced at $8.95. Above the $4 face value of the nickels, this represented a premium of $4.95. Since the 2009 Lincoln Cent roll sets have a face value of $1, the premium above face value is a hefty $7.95. On top of that, a shipping and handling fee of $4.95 is added to all orders.
While the press release does not mention it, I have confirmed that the rolls will contain the zinc versions of the 2009 Lincoln Cents, identical to the coins struck for circulation. Many collectors have expressed interest in the 95% copper or bronze versions of the 2009 Lincoln Cents. So far, it seems that these coins will be offered in the 2009 Mint Set, 2009 Proof Set, 2009 Silver Proof Set, and 2009 Lincoln Five Coin Set.
Labels: 2009 Lincoln Cents
posted by Mint News Blog @ 1:39 PM
12 Comments:
I think the premium pricing for the new Lincoln penny rolls is outrageous. I realize that with such a low face value on the coins that fixed costs are probably the main driver behind the high price, but they could have included 2 or 3 rolls of each mint mark for that price.
The premium IS crazy on that item, but I bet the Mint will still sell quite a few of them. Some collectors will undoubtedly feel that they simply HAVE to have that special paper! Me, I'll just stick to NF String & Son for .50 cents per roll!
Two words...
Highway robbery!
This is uncalled for by The Mint...especially so for the zinc Lincoln's. Now, I may have given serious consideration to paying this outrageous price for the copper cents, but this...
C'mon Mr. Moy! Talk about price gouging!
I have collected coins since 1964, buying mostly from the MINT. This time, they have gone so far as to be absurd. I absolutely REFUSE to be robbed, they can keep these rolls until they tarnish - Breezy.
I will buy when they offer rolls of all four cent types and mints in a single package. I'm sure ;) they will do this towards the end of the year - at a huge premium NO DOUBT!
$8.95??? That's a $7.95 premium...totally outrageous!! Then, to add more insult to injury, they're also charging $4.95 for shipping/handling.
Moy, it's time for you to go. Period.
Quit crying about it. If you don't want them don't buy them. They're going for 40 bucks a roll on ebay!!!
You are absolutely correct Max, it's certainly a free country and any willing fool can be parted from his money at anytime. I'm a little surprised that the Mint seems to be attempting to balance their fiscal budget and kill the golden goose in one felled swoop by sticking it to customers. Whomever is advising Mint product pricing limits needs to be replaced for outrageous marketing advice. Collectors are inscensed at this blatent attempt at highway robbery. Honest to goodness, someone needs their head examined. No collector with a modicum of numismatic intelligence would store zinc pennies in a paper wrapper to begin with. It's the fastest way to see your coins tarnish, spot and pit from being warpped in paper. A special logo paper worth $8.95, hardly.
Knowlegable collectors will obtain face value cents from banks and elsewhere, and transfer them to plastic tubes, and sealed for storage. Imagine paying a premium and then throw away the reason for the outrageous source of the premium. The Mint has gone insane. What a pity. Truely a pity.
Michael,
I have a question regarding 2009 Legacy Set?Was it discontinued or it would be issued this year as usual?
I don't see it in Mint's schedule.
Regarding the American Legacy Collection-
I just confirmed- apparently it has been discontinued. Will have this in a full post soon.
Penny Mania ? Wow.I am very disappointed that the new penny has become known as a complete disaster as far as quality from both the US Mint and all four major grading services.After a recent study of coins graded by PCGS,NGC and ANACS.I have come to the conclusion that not only did our US Mint drop the ball on making a coin that can resist environmental damage.But they also have created a disappointed buyer market.
To add to this disaster.Couple in the major grading companies (PCGS,NGC,ANACS,ICG) who all have jumped to have the high dollar high ms 67 coins.After carefully viewing many of these coins from all companies.As usual the market and greed for the big ticket item has resulted in high production ,throw it out quicker with no regard for quality matching grades.Is it now acceptable for a heavily spotted coin to be a ms 67? What are these companies thinking.
What is the US Mint thinking? Has greed really taken over and is hyperinflation alive and well.I have now lost all respect for my US Mint and every grading company. All grading companies are now it seems a means to cause hyperinflation to grow.It used to be a love for the hunt of a perfect ms 65. Now the Ms 67s look worse then the old AUs.And these companies moved to make Ms 70s the highest grade.What a joke.They can't even tell the difference between a AU and a ms 67.How can they think they would be trusted to grade a true ms 70.
The fact of the matter is.There never has been an Ms 70. No Ms coin is perfect.That is what made it fun to collect back when collectors knew this simple fact.To try to find a coin that is a very nice example is what made coin collecting respectable.And to trust a company to represent the coins grade properly was considered a respectable and competent way to protect the coins value.With this recent action by all parties involved.I have decided to get out of collecting until something is done to protect true values of true grades.
In my opinion.If you are looking to invest in anything at all these days.I would say go for the gold and silver purities.The bars that are pure and unmolested by any of these profiteers.Because after hyperinflation hits full force.The total trust in the dollar will be gone.And the only thing that will protect it's value is precious pure metals.
So think about that before you rush to buy those pennies to hold on to.I would be very interested to have someone explain that trust is a valid reason to think that these pennies could ever be worth anything in the future.And don't rush to say that circulation will play any role in these poor example of the US Penny.
I will now end my collecting and start hoarding gold and silver pure bars. And when the dollar completely tanks. I will be glad I did. I only hope there are some honest people in high places that will do something about these grading companies allowing this to happen. And move toward bringing the hobby of collecting coins a respected and viable investment again. The only mania I see is the greedy untrustworthy maniacs who are ripping coin collectors off.
Don't buy it to all this hype (Penny Mania) What a joke !!!!
There is no sense in these cents
There is no trust in the grading service companies and dealers
Coin collecting has turned to crap with modern day junk and the junk graders and pushers
Buy Pure Good And Silver.Smart move
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