Mint News Blog

News, Information, and Commentary on US Mint Products

Friday, August 21, 2009

2009 Lincoln Cent Professional Life Two Roll Set Sales

Sales numbers for the opening few days of sales for the latest 2009 Lincoln Cent Two Roll Set featuring the "Professional Life" design came in surprisingly strong at 152,146 sets. Although this is about 25% less than the opening weekend sales recorded for the prior design, many were expecting a much larger decline.

The table below shows the opening weekend sales for each of the three 2009 Lincoln Cent Two Rolls Sets that have been offered so far, as well as the final sales numbers for the first two releases.

2009 Lincoln Cent Two Roll Set Sales

Opening Weekend Sales Final Sales
Birthplace LP1 63,772 96,000
Formative Years LP2 200,055 300,000
Professional Life LP3 152,146 ?

When the first set featuring the Birthplace design (LP1) was announced, many collectors had been put off by the high premium over face value that the US Mint was charging for the sets. Each set contained only $1.00 face value in coins, but was priced at $8.95 plus shipping and handling. Despite the premiums, 63,772 sets were ordered on the opening weekend, and the set sold out less than two weeks later after 96,000 sets had been sold. After the sold out LP1 set started selling for big premiums on eBay, many re-evaluated the offering and jumped on the series.

When the Formative Years (LP2) set went on sale, the US Mint's website was bogged down with heavy traffic from a rush of orders placed during the first hour of sales. The opening weekend sales were eventually revealed to be more than double the total number of LP1 sets sold. By the time the LP2 set sold out, the total number of sets sold was more than triple the previous release.

Reports from readers indicated that orders for the latest Professional Life (Lp3) design could be could be placed without any delay on the US Mint's website, even in the opening few minutes. This seemed to suggest a significantly slower pace of sales than the prior release. However, this time around collectors may have taken advantage of the US Mint's subscription program for the offering. The urgency to order in the opening minutes was also reduced, since the last set remained available for several months.

How many LP3 sets will the US Mint sell in total? If the product allotment is the same as the prior set, I think the Mint has an outside chance of reaching the 300,000 mark for a second time. However, a more conservative guess of 225,000 - 250,000 sets seems more likely.

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At August 21, 2009 at 9:18 AM , Anonymous Anonymous said...

I can't wait until the Mint ships the LP3's out and people start finding all the errors!

At August 21, 2009 at 4:11 PM , Anonymous Anonymous said...

just to confirm, there is nothing different about these pennies, versus any 2009 Lincoln Cent Professional Life pennies, other than they have US Mint printed on the paper, and they were bought for $8.95 from the Mint. correct?

At August 21, 2009 at 6:20 PM , Anonymous Jus- said...

Received my order yesterday. The delivery surprised me because the last time I checked my order wasn't to be shipped until September 2.

At August 21, 2009 at 9:48 PM , Anonymous Anonymous said...

To :AnonymousAugust 21, 2009 4:11PM,

yes they are the same exact cents, the only difference is the pretty $7.95 Mint wrapper, plastic white internal tray and white box..

..Side note ,mine shipped today according to email received from mint ..

???Dilemma : HOLD or SELL???

At August 21, 2009 at 9:55 PM , Anonymous Anonymous said...

One possible difference is the bank rolls for the most part have been circulated (or searched) for high grades / error coins.

At August 22, 2009 at 4:20 AM , Anonymous Anonymous said...

I thought the mint rolls pennies were made of the 95% copper composition..............

At August 22, 2009 at 4:45 AM , Blogger Michael said...

The 95% copper composition is only used for annual sets and special sets.

The following have the 95% copper cents:

2009 Proof Set
2009 Silver Proof Set
2009 Uncirculated Mint Set
2009 Lincoln Cent Proof Set
2009 Lincoln Coin and Chronicles Set

The cents contained in the two roll sets are the same zinc based composition found in rolls from other sources.

At August 22, 2009 at 8:48 AM , Anonymous Anonymous said...

"The cents contained in the two roll sets are the same zinc based composition found in rolls from other sources."

The same common (not copper) pocket change cents are being charged 8.95 for $1.00's worth plus shipping. LOL. We're not talking just minting a few thousand to make them rare, we're talking in the hundred millions. Me thinks the mint has more than a few brainwashed. However, it is a free country and any fool can pay what ever they choose. Just doesn't seem right to me.
A paper wrapper just ain't worth $7.95. Geez.

At August 22, 2009 at 9:17 AM , Anonymous Anonymous said...

Any word on errors yet from anyone for these penny's???

At August 22, 2009 at 1:11 PM , Anonymous Anonymous said...

There is a bright side to this penny nonsense for those who wish to horde. If you look at the mintages, it comes out to just over 1 cent per U.S. citizen. By comparison, the 1976 quarters were nearly 3 per person. How many of those do you see in circulation? These will be truely scarce to the beginner collector. Gather them up now, they might be worth 1.5 cents each in the future, provided you keep them dry. even in the wrappers, just th eslightest bit of moisture, and voila! yucky stuff.

At August 22, 2009 at 1:13 PM , Anonymous Anonymous said...

Wouldn't the paper be worth more if it wasn't placed on the rolls? Maybe the Mint will sell uncut sheets for..say $150 a square yard.

At August 22, 2009 at 1:49 PM , Anonymous Vaughnster said...

They're worth what the market bears. For as crazy as it is to pay $8.95 for two rolls, it's insane to spend over $100 for the same LP1 rolls. Who would have ever thought??

At August 23, 2009 at 6:55 PM , Anonymous Dude said...

What are the final figures for individual lincoln pennies p d (and s) for lp1 lp2 and the total mintage so far for lp3? My guess is the total mintages are in the same ballpark, The 100k lp1 roll sets were a miscalculation of demand from us mint. My guess is lp3 and lp4 will = 300k 2 roll sets. My guess is LP1 2 roll set will continue to skyrocket in value, especially once lp4 is sold out.

At August 23, 2009 at 8:28 PM , Anonymous Anonymous said...

Does the Westward Journey Nickel Series ring a bell here.The same thing seems to be happening with this series as what happened to the Westward Journey Series.The LP3s Are expected to be less in total then the LP2s.But only time will tell.I think the series took a bad wrap when Wexler,Crawford and Coin World Mag exploited the so called DDR craze.Same thing happened on the 2004 D buffalo Die gouge.Seems that no series can go without extreme exploitation.I've found minor errors in the LP3s already.So I'm sure an attempt to exploit the LP3 is on the horizon.I really hope something significant will be found this time.Because I think the LP2 errors were lame at best.The series as a whole is losing steam and anything short of a significant error would be the only way this series will pick up on interests.It's kind of strange how a series can die unless the mint screws up.Hey,At least we have the US Mint to rely on to screw something up to keep things alive.Good luck to all who invested.Perhaps the light at the end of this series will be a great big error from the US Mint on the LP3 or LP4.

At August 23, 2009 at 9:09 PM , Anonymous Anonymous said...

On the 23rd our beloved US Mint will be selling the lincoln 4 coin proof sets separately for 7.95.Isn't that the same set they promised well before they decided to sell them in the proof and silver sets.LOL.I bet a bunch of people are pissed who bought the proof and silver sets just to get the pennies.I'm really glad I waited now.If there isn't one thing I have learned over the years from the mint.Is the fact that waiting is usually in your favor when it comes to Series Coin sets.I wonder if they will limit the amount you can order on the pennies.LOL.7.95 for 4 pennies.Oh What a deal LOL.Do you think the mint is making any money on this deal LOL.

At August 24, 2009 at 5:54 AM , Anonymous Anonymous said...

You watch, the "Pennies Only" proof set will be worth MORE money than the 18-coin proof set! We as collectors have proven time and time again that we are willing to pay obscene amounts of money for special packaging!

At August 24, 2009 at 7:06 AM , Anonymous Anonymous said...

Even with an order limit of 5 per household, the Lincoln Cent Proof Set will most likely sell out in just a few weeks. The mint probably won't want to produce a tremendous amount of these (hence the order limit), so they could cut them off around the 500,000 unit level. There will be plenty of collectors who want the special box and COA, so the price of this one will be driven up, perhaps sharply!

Go ahead, take a chance for the $45 investment! What have you got to lose? With shipment of orders being delayed until November, you can always place an order now, then keep an eye on the Numismaster-reported "Mint Statistics" each week. If sales numbers are getting high enough to make you uncomfortable, you can always cancel your order before it ships. But, keep in mind too that if too many people do that, the final number of fulfilled orders COULD be small enough to make the sets worth even more.

Don't you LOVE this speculation game? :)

At August 24, 2009 at 2:38 PM , Anonymous Anonymous said...

Check out the mints site , they finally added the ACTUAL pic of the:2009 Lincoln Bicentennial One Cent Proof Set (LN2) ...Pretty box ,, eh ?

At August 24, 2009 at 7:12 PM , Anonymous Anonymous said...

The pricing of these various Proof sets is interesting.

Consider that the Mint sells the 2009 Annual proof set for $30, but the Presidential dollar and the quarter sets individually are $15 each. Add the Lincoln penny set at $8 and you are up to $38 w/o even considering the four other coins.
This is quite a mark up.

If you tally what you can get for breaking up the proof sets on Ebay, its still comes to about $35, even with the quarter and dollar sets trading at a serious discount.

At August 24, 2009 at 7:21 PM , Anonymous Anonymous said...

IMO, you get more "bang for the buck" with the proof set @ ~ $30, however I still plan on ordering 5 proof penny sets.

At August 24, 2009 at 8:18 PM , Anonymous Anonymous said...

I'm in for 15 also!!!

At August 24, 2009 at 8:47 PM , Anonymous Anonymous said...

Did you see the outrageous add (pg.63) in this week's Coin World by the Chattanooga Coin Co.? They placed a huge offering encouraging the public to take advantage of "special advance ordering" for the Copper Proof set at $25!!!

They advertise that "only 9,500 sets will be available and factory repackaged in the outstanding "A Legacy in Copper" special collector's box."

Very catchy!, and just this side of staying legal. Trading on the public's uncertainty and speculation of whether the Mint was to make their own different packaging from the Proof set group. They rather suggest to the unknowing that this ad contains a limited edition that many have been waiting for, but the "box" was obviously printed for Chattanooga, not by the Mint.

Why would anyone buy sets from Chattanooga for $25 (with a faux pkg.) rather than directly from the Mint at $7.95????? For some reason this Company seems to word quite a few of their ads for various offerings in a "tricky manner". I personally wouldn't buy a pencil from these guys and hope not too many get fooled.- Grandpa.

At August 25, 2009 at 5:47 AM , Anonymous Anonymous said...

It's a shame how many folks will be taken in by that baloney. There truly is "a sucker born every minute." :(

At August 25, 2009 at 11:41 AM , Blogger Lasloo said...

Well, you only know what you know, right? We can gasp in amazement in the knowledge gap between us and them, but I'm sure I've been gouged many times about things I know nothing about. Probably at the mechanics shop! :-) I call it a 'convenience' fee. Maybe, I should call it, a 'knowledge' fee.

I think there are a lot of people who have NO IDEA how to go about buying coins from the Mint, and don't live near any Mint, nor know much about the Mint or simply incredibly scared/paranoid about using their credit card online. They may have read about some new coins... pennies, dollars... whatever... being made by the Mint and they're interested but not inclined to go much further than their bank or look for them in circulation.

Then, you get one of these mailings selling 12-per-sealed-tube of each dollar coin, plus an extra one in an airtite-like holder for $28 each plus a free wooden case. They look golden, so WHAT-A-DEAL, right?
I can't blame them. For many, its all about the display... the presentation... what they really want is that nice display case... but they want those coins too... and for a convenience fee of $17 (not including S&H) a roll, they're willing to do it.

Its only recently that I stopped ordering my Prez coins in the 25-roll sets that the Mint sells and unwrapping them. Its the only way I knew to get what I wanted. I didn't want 250 coins, I just wanted about 25 or 30 to save/invest/enjoy. None the less, as time has gone by, I've gotten wiser and found other avenues. Mainly, the Mint kiosk at the DC Mint HQ has coin machines that clinks out both P & D mints of the latest dollar coin and state quarter for face value. I still buy the First Spouse set and the coin covers, though, because I like them. I like collecting them, I like going through them, I like showing them to people, I like reading them, I like learning about Presidential history and state quarter mottos and history. FUN!! FUN!!! And so, yes, I'm a sucker, and I'll pay a reasonable premium... $9 for the First Spouse Set is reasonable... $100 for an LP1, though is not. :-)

At August 25, 2009 at 1:02 PM , Anonymous Anonymous said...

I feel these 2009 cents are overrated. They will never be worth anything as so many are hoarding them and not putting them into circulation. Therefore there will be millions of BU examples. On another note I cannot justify paying $8.95 for these at the mint.

At August 25, 2009 at 1:16 PM , Blogger Lasloo said...

Don't think of the $8.95 offerings as a way to get your BU penny coins. Think of the $8.95 offerings as just another collectible alongside the first day coin covers and the First Spouse medal and dollar set. If you don't plan to immediately resell it, open the box and keep the rolls as-is in their wrappers. Its an $9 collectible, not a set of 100 BU pennies with the new design.

Cause you can absolutely get these rolls for face value at your bank or business establishments IF they happen to get the new rolls. At least you're more likely to find these penny rolls than the dime and nickel rolls, it seems.

However, do note, a single roll of the D mint seems to be going for about $6.00 on Ebay (which usually includes S&H). If the P mints are going for the same, then that is $12 total. That's $2 cheaper than buying these collectible rolls from the Mint (i.e., $14 when you include S&H). That extra $2 may be worth it, to get it FROM the Mint and in those wrappers.

Of course, patience is a virtue... and if you're patient enough, and resourceful enough, you're bound to find some establishment with new rolls at face value. But, patience, nowadays, is hard to come by.

At August 25, 2009 at 3:38 PM , Anonymous Anonymous said...

lp2's back on sale at the mint. "sold out" i didn't think so

At August 25, 2009 at 3:53 PM , Anonymous Anonymous said...

You're right, I see the LP2's ARE back on sale (at the time of this writing, anyway.) This is undoubtedly the same scenario that happened with the W.H. Harrison and John Tyler rolls, where the Mint re-opened sales to re-sell rolls whose original sales did not pan out due to cancellations, bad credit cards, etc.

This second chance to buy the Formative Years roll set will not last long. But, with 300,000 units sold, will anyone really care?

At August 25, 2009 at 7:59 PM , Anonymous Anonymous said...

One would wonder what a sealed box of 1959 Lincoln cents would sell for now.Two years ago it would be considered worthless.Now if you can find one.They are a rarity.Not to mention worth more in my opinion then the crap the mint is producing now.For all the money they are making on these new pennies.It makes one wonder why they are made so cheaply.I can't help to wonder myself.How will these coins look in 50 years? I still think the way these cents have been produced along with many other years before.That anything from 66 to 09 will be of worth much value unless an error is found.
It may be a series that they needed just to make up for the lost cost over the years on the cost of making a cent.To me it makes no sense.coins are no longer about rarity it seems.The big change I have noticed is the novelty aspect of coin selling.As soon as the novelty wares off.The prices drop.I say go after rare low populations if you want a good investment in coins.Don't be taken by the novelty sellers out there.That can be anyone from the US Mint to any old rip off artist on ebay. HAVE FUN, GOOD LUCK, AND GOD BLESS

At August 25, 2009 at 8:10 PM , Anonymous Anonymous said...

Let the mint make some money selling their 4 pennies sets...the profits help fund the Smithsonian and other museums. Can't see why anyone should be overly concerned about the cost. Only you decide if the purchase you are making has value.

All in all, the mint does a good job...


At August 25, 2009 at 8:59 PM , Anonymous Anonymous said...

Speaking of older coins, if you could still find them, most coin collectors know that the 1950-D nickel is highly desirable and generally prized. To have a B.U. roll or a quantity would be considered good fortune by most. They are available if wanted and can be purchased at a premium cost.

Not within the same limelight, since were not singularly picked out as "the" coin to squirrel away, at a local coin show in June, I brought along a roll of B.U. 1950-P nickels to see what interested dealers would offer to buy them. Same year, same denomination, same B.U. condition, in a plastic coin tube. Two dealers weren't interested to buy them since they were P's, not D's. One dealer offered $3.00.

Really? $3.00? I doubt one could find too many 1950-P's in B.U. condition floating around to pop into your Whitman folder. Talk about modern pricing. (No, I did not sell that roll, I wasn't born yesterday.) - Grandpa.

At August 26, 2009 at 10:12 AM , Anonymous Anonymous said...

I actually agree with a previous post that there is no need for any cynicism directed at the US mint. I for one have done very well with coins that were not shipped on time, backordered, etc. I nominate that we have a USMint appreciation day or week. Maybe the 2nd of April each year. Or the 8th of April which is the birthday of David Rittenhouse. Or the days in between. - SFS


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