Mint News Blog

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Monday, August 3, 2009

2009 Professional Life Lincoln Cent Launch in Springfiled, Illinois

The United States Mint has released details for the launch ceremony for the third 2009 Lincoln Cent design. This will be the third of four different reverse designs used during 2009 to represent the stages of Lincoln's life.

The third design design represents Abraham Lincoln's "Professional Life" spent in Illinois from 1830 to 1861. The design depicts a young, professional Lincoln standing in front of the State Capitol building. This reverse was designed by Joel Iskowitz and sculpted by Don Everhart. The obverse of the coin will bear the familiar likeness of Lincoln designed by Victor D. Brenner.

The launch ceremony will be held on Thursday, August 13, 2009 at 10:00 AM CT at the Old State Capitol, 5th & Adams Streets, Springfield, Illinois. Attending the event will be US Mint Director Edmund Moy, Senator Dick Durbin, Illinois state officials, and Mayor Tim Davlin.

The coin exchange, where attendees can exchange bills for rolls of the newly released coins, is indicated to take place after the ceremony. The coin exchange will be subject to a two roll minimum and six roll maximum. These limits are indicated as subject to change. Children under 18 attending the event will receive a new 2009 Lincoln "Professional Life" Cent for free.

On the same date at 12:00 Noon ET, the United States Mint will offer Two Roll Sets of the new 2009 Professional Life Cents. Similar to prior offerings, the sets will include one 50-coin roll of coins from the Philadelphia Mint and one 50-coin roll of coins from the Denver Mint. Each Set will be priced at $8.95. The US Mint has indicated an ordering limit of five sets per household.

The US Mint also indicates that "millions of one-cent coins bearing the Professional Life design will be released into general circulation on August 13."

The slow release of the 2009 Lincoln Cents into circulation has been a source of frustration for some and a profit opportunity for others. When the first design was released on February 12, 2009, the coin exchange at the launch ceremony in Hodgenville, Kentucky turned out to be one of the few sources for the new coins. Attendees were able to sell their rolls on venues such as eBay where prices quickly skyrocketed.

The developing speculative market for 2009 Lincoln Cents contributed to the increased number of people attending the second event in Lincoln City, Indiana to take part in the coin exchange, but also led to some efforts by the US Mint to increase distribution.

One month after the Hodgenville launch ceremony, they had introduced the 2009 Lincoln Cent Two-Roll Set product. Starting with the second design release, these two-roll sets were available for sale at the US Mint starting on the release date for each coin. At the coin release ceremonies, the exchange limit was lowered from ten rolls to six rolls per person, and more rolls were available for exchange.

The first event had been attended by about 1,500 people and 10,000 rolls of new cents were exchanged. The second event had an estimated 3,000 attendees who exchanged 20,000 rolls of cents. How many people will attend the third ceremony and how many rolls will be exchanged?

As with the prior ceremonies, I will have a report following the event, hopefully with some pictures. Anyone attending who would like to contribute can contact me at coins @ live.com.

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5 Comments:

At August 3, 2009 at 2:46 PM , Blogger Lasloo said...

A couple of weeks ago, I was told by people who work at the Mint kiosk at Union Station and the Mint store in the Treasury Building that they will also be dishing out the rolls of "Professional Life" Lincoln pennies on August 13th as well.

However, I have yet to read any official word on this. Can anyone else confirm this? And though CoinWorld had an article about the August 13th celebrations about a month ago, I'm surprised that CoinWorld hasn't had a more recent article discussing more details.

 
At August 5, 2009 at 11:41 AM , Blogger Michael said...

That's a good question. I will see if I can get a definitive answer on this. I will post details of any other confirmed exchange locations.

 
At August 5, 2009 at 2:09 PM , Blogger Michael said...

confirmed two locations in Washington DC.

http://mintnewsblog.blogspot.com/2009/08/2009-professsional-life-penny-coin.html

 
At August 12, 2009 at 10:33 PM , Anonymous rich k said...

I am in Springfield IL now and planning to attend the ceremony and coin sale for the third 3 "professional life" penny in the morning.
Do you know if they will be offered in the US mint white wrappers or the standard white and red wrappers? And..
I have not been able to determine if they will be sold at face value at the ceremony or at the Washington DC mint price of $8.95 for a 2 roll set?

 
At August 13, 2009 at 4:11 AM , Blogger Michael said...

The rolls available at the exchange will be in regular bank wrappers, not the special US Mint wrappers.

Since these are coin exchanges, the two sites in Washington DC and Springfield will offer an equal exchange, i.e. $1 for 2 rolls of cents.

 

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