Lincoln Cent Birthplace Two Roll Set Sales Begin
Sales of the 2009 Lincoln Cent Birthplace Two Roll Set have begun at the US Mint.
As mentioned previously the two roll sets have been priced at $8.95 plus the standard shipping and handling charge. The US Mint has also imposed an ordering limit of five sets per household, which was not announced previously. You can find the US Mint's product page here.
The US Mint has also responded on the issue of pricing. When the pricing was first announced in the press release, many felt it was excessive. The two rolls of Lincoln Cents in the set have a value of $1.00, leaving a premium of $7.95 above face value. The US Mint has the following Question & Answer posted on their website:
Question: Is the United States Mint pricing model for the Lincoln Two-Roll Cent Set consistent with other coin roll products, such as nickels, half-dollars and dollars?As I have mentioned, a few years ago the US Mint offered two roll sets of nickels for $8.95. After the $4.00 face value, this left $4.95 for the mentioned "packaging, transportation, storage, order fulfillment, marketing and general and administrative expenses."
Answer: Yes, pricing for the Lincoln Cent rolls is consistent with the pricing of the other numismatic coin roll products. All coin roll products are priced at face value of the rolled coins plus costs for packaging, transportation, storage, order fulfillment, marketing and general and administrative expenses.
For a look at the premiums for current roll products, the Kennedy Half Dollar Two Roll Set is priced at $32.95 for $20 fave value, representing a $12.95 mark up. The DC Quarter Two Roll Sets are priced at $32.95 for $20 face value representing a $12.95 premium. Lastly, the Presidential Dollar Rolls are priced at $35.95 for $25 face value, representing a premium of $10.95.
Labels: 2009 Lincoln Cents, Bags and Rolls
posted by Mint News Blog @ 9:10 AM
14 Comments:
They can keep these. How dare the US Mint attempt to RIP-OFF customers. Totally outrageous. This may very well be the final straw.
Yes! Shocking! Boycott! Boycott!
packaging and transportation!!!!!!!
how much does a paper coin roll really cost, also isn't transportation the shipping and handling fee of $4.95 we pay!!!!!
the mint really is a joke
Brothers and sisters. I have sinned against you and I must testify. Today I ordered not one but two sets of the overpriced lincoln pennies. One for me and a friend. I think I was bored because the mint wasn't releasing anything I could get my hands on. I am for sure not in the gold buying range in income. But I do love the Ultra Gold Double Eagle, but I was never meant to own one. I like the silver offerings, but so far my eagles might not be getting struck this year. I got the jitters and purchased. Please forgive me;P (in my best Robert Tilton impression)
I really don't think the mint needed a 5 box/household limit with their prices as outrageous as they are.
I figure they are wanting to get a piece of eBay's action and that's why the prices were set where they were. Now that the mint has set a precedence on shipping these sets the prices on eBay won't go as high on the mint's 3 future penny sets, and thus, I suppose the mint won't be able to get a $7.95 premium.
The mint just keeps burning themselves. What a bunch of brainiacs running the mint circus!
The fact that the Mint had to pare down dozens and dozens of former offerings due to shrunken sales volume and an abundance of leftover stock should have rung a bell to someone. (Too many items, sometimes really poor quality, excessive over pricing.) Of course, many items are also on the top shelf and highly desirable. It's no secret that the Mint must produce what is mandated by law, but clearly we repeatedly see a fast low volume production, then "suspension". They simply are overwhelmed and find costs running out of control. And so they decide to "bang it" to the legions of small customers who are their life blood.
This time, charging a 700% markup on product, and 500% to ship is so ridiculous as to warrant total BOYCOTT of all products for 2009. Collectors everywhere are INCENSED & OUTRAGED. The Mint needs to be taught a lesson and the Lincoln cent fiasco should be the driving force to see heads roll at the Mint.
Mixed feelings here, but I too must confess, I'll be buying a set.
As for the costs (excluding the planchet material), it costs just as much to produce as most any other coin from the engraving to the machinery to the over all man power it takes to process the coinage, right? So is the mark-up that outrageous? I dunno.
Just a thought...
My local bank trys to order new coin release's from the feds.(new circlation coins) for its customers
I asked when they will be getting the new lincoln cents in.The vault teller said that they wont be getting any because they were notified that they were not shipping any to the state of Washington. So i guess if you live in the state of Washington your S.O.L. trying to get the new cents rolls from your bank.
I can't see any "cents" in buying these. The mint is going to make billions of these things for circulation. How could they possibly have any long term collector value? The copper version, limited to collectors only, seem to me to be the way to go.
Just my opinion, but the Mint appears to be doing anything they can to create excitement in order to stimulate flaging sales in a recession economy. Artificially created shortages, short minting runs, suspicious errors, and the list is endless. The latest outrage of Rip-Off pricing PLUS ridiculus shipping/handling costs for special paper wrapped rolls is going to backfire bigtime. I will join many others who will choose to boycott these cents, and those yet to come. The Mint has lost it's mind.
According to the latest "Mint Statistics" published on the Numismaster website, there were 63,772 of the Lincoln Cent Two-Roll Sets sold as of March 15. I KNEW that despite the rip-off, the Mint would still sell a ton of those rolls!
Maybe it's partly because the coins are still basically impossible to find in most areas of the country (including my own in Southern Illinois), and the Mint's price is a lot cheaper than the ridiculous prices being paid on eBay! Eventually, I might have to break down and buy them from the Mint myself, just to make sure I don't miss them entirely!
I'll sheepishly admit that I jumped on the ordering bandwagon the first day of sale. It still seem absolutely rediculous the prices they are charging for $1 worth of coin. Seriously. Then again, I DID fall for it. :)
The original ship date showed 3/20, however this morning I rec'd an email from the Mint stating that date has been pushed back to 4/4.
It seems they either weren't prepared for the orders ahead of time, or they are planning on practicing their new LIFO (last-in-first-out) rule, seen recently from the UHR shipping "scandal".
I ordered the lincoln's and I too was told that they would ship on 3/20. I received an email saying it had been pushed back to 4/4. I ordered within the first 10 minutes of the onsale, so maybe we can test this FIFO scandal. If anyone receives theirs this week, would you mind posting when your placed your order.
These coins are extremely fairly priced, they are the first issue of the new series and lincoln penny rolls are very valued with the possibility of finding a rare ms 69 or better coin, or even an error coin. 2009 lincoln rolls on ebay went from $30 a roll to over $350 a roll, and the one's the US mint sold are going for $20 for the set of 2 rolls or $10 each on ebay right now!
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