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Friday, February 12, 2010

2010 Lincoln Cent Launch Ceremony Held, Two Roll Sets Announced


Yesterday, the launch ceremony for the 2010 Lincoln Cent was held in Springfield, Illinois. The new reverse of the coin features the Union Shield, intended to represent Abraham Lincoln's preservation of the United States as a single and united country.

The launch ceremony was held at the Abraham Lincoln Presidential Museum where approximately 400 people arrived for the initial presentation. There was some anticipation and excitement surround the event, as people had began lining up as early 5:30 AM and came from as far as Texas.

The coin exchange following the ceremony had 20,000 rolls available. This is the same number that had been available for the last three penny ceremonies. A special postage cancellation stamp was prepared for the ceremony and available at the Cook Street Post Office.

These details come from a first hand account of the ceremony from Greg Fleckenstein published on Coin Update News.

Read the full story: 2010 Lincoln Cent Launch Ceremony and Coin Exchange



Separately, the US Mint announced the first product specifically highlighting the 2010 Lincoln Cent. Within their press release recapping the event, they mentioned that 2010 Lincoln Cent Two Roll Sets will be available in the spring. A similar product had been available for each of the 2009 Lincoln Cent designs priced at $8.95 per set. The "Professional Life" and "Presidency" Two Roll Sets still remain available for sale at the US Mint.

2010 Lincoln Cent Rolls that have been stamped and canceled with the special launch ceremony cancellation have already found their way to eBay, where they have sold for prices ranging from $20 to $70 per roll. Some of the higher priced sales include the pamphlet from the launch ceremony. Unmakred single rolls continue to sell for about $12 to $18 per roll. Here are the current eBay auctions.

Prices for the unmarked rolls will no doubt decline as more of the new cents are distributed and eventually when the US Mint's Two Roll Set goes on sale. A similar situation occurred just after the release of the 2009 "Birthplace" Lincoln Cents when regular rolls sold for as much as $50 each.

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23 Comments:

At February 12, 2010 at 8:06 AM , Anonymous Anonymous said...

I thought last year was going to be the year of Lincoln but with the new penny and the dollar coin and proof coin available this year, maybe this year will be too.

 
At February 12, 2010 at 9:13 AM , Anonymous Anonymous said...

The Mint will do there best I am sure. include the 2 roll set in
the spring. and......

 
At February 12, 2010 at 9:14 AM , Anonymous Anonymous said...

Oop's I meant their best.

 
At February 12, 2010 at 9:15 AM , Anonymous Anonymous said...

$8.95 plus 4.95 postage for $1.00 worth of common zinc commercial pennies? Not even copper content. Over 100 million punched out in January alone. The Mint suckered the little people who collect minor denomination coins last year and got away with absurd pricing. Since many were hosed last year, they figure to have set a precedent for fleecing the public again.

Not me. I didn't play their game last year, and I certainly won't buy these this year. The Mint pricing structure is ridiculous and item pricing like this should be boycotted. Buy only those coins that have a minimum value and worth. Just my opinion, others can do what they choose.

 
At February 12, 2010 at 9:50 AM , Anonymous Anonymous said...

$8.95 is a bit steep for 2 rolls of cents. I can't believe the prices that these rolls are going for on eBay. They are not rare or anything. I hope the mint pounds out billions of these. If not we'll never see them in circulation because of all the hoarders.

 
At February 12, 2010 at 9:52 AM , Blogger Lasloo said...

Because of the snow, the Federal government was closed in D.C. yesterday, so no coin exchange happened in D.C. (that as I know of). Anybody know, if they are doing any coin exchanges in D.C. today (Friday)?

I just want a first day coin cover on the new penny. Did anybody try to create something like that yesterday?

 
At February 12, 2010 at 10:59 AM , Anonymous Anonymous said...

It always blows my mind when people pay such crazy prices for the cancelled rolls from the ceremony. Within days the prices come down to a paltry $10 or less per roll. $70 is just nuts! It's a great windfall for those who get it, though. Not a bad markup for a .94 item (not counting any additional allocation for travel expenses, of course.)

 
At February 12, 2010 at 12:01 PM , Blogger Sholom said...

I reached the guys at the US Mint store in DC today. They said they have not heard if there will be a reschedule of the new cent exchange. One guy presumed it'd be rescheduled, but was just guessing.

 
At February 12, 2010 at 4:26 PM , Anonymous Anonymous said...

Does anyone know the minted number of the 2008 presidential $1 coin & first spouse medel sets ? David Harper has the 09 listed on the Mint Stats..........

 
At February 12, 2010 at 5:02 PM , Blogger coinman said...

yah yah the 2010 President proof sets are out got mine and can't wait untill rolls hit. So sad have to wait untill bank gets new penny but I guess will have too not buying overpriced coins on ebay. Just wonder how many people out their have bought from the Coin Vault? Wanted to but 2010 Silver Eagle but mint not selling as of yet,Why?

 
At February 12, 2010 at 6:54 PM , Anonymous Anonymous said...

Coinman, the Mint is not selling any 2010 Silver Eagles,,,if they do at a later date they will be Proof or Burnished coins.
Coin Vault is selling the regular bullion 2010 silver eagle, which you can purchase on ebay for $400 a roll or for about $385 a roll from some online sites (which I won't name as I don't won't to be viewed as promoting them)
What exactly was Coin Vault offering? If it was NGC MS69 slabbed eagles as oppossed to raw ones, pay about $26 for them...MS 70's~ $75 for NGC and maybe $90-$95 for PCGS
But I would just buy a roll!!!

 
At February 13, 2010 at 11:53 AM , Anonymous Anonymous said...

Rolls of copper coated zinc coins for sale at 20 times face value and lets drive 200 miles to get some. Whoopiiii. Uh, oh, I think I just soiled my pants.

 
At February 14, 2010 at 7:42 AM , Anonymous Anonymous said...

You gotta realize that many are out there trying to make a fast buck. The number of canceled Lincoln cent shield rolls is high. A year from now, demand will drop and you likely can get them at a much lower price.

 
At February 14, 2010 at 8:49 PM , Anonymous Anonymous said...

What really blows my mind is the fact that the fools and their money are paying more for a much higher mintage roll then the last series which is clearly the lowest mintage of any since 1955.Just goes to show the ignorance in coin collecting today.There is no longer factors like mintage or population.It's all about the newest thing out.Take for example all the suckers who bought all the first ceremony rolls for 2 and 300.00 a roll.These people will never see their money back on those zink coated pieces of junk.Then everyone got so discussed with those prices that it dove down prices on the rest of the ceremony rolls.Now it's a new year with a 1st grade design.And people have quickly forgotten the idiocies of the first Log Cabin craze.It is sure a fact that a fool and their money will soon part.To actually watch this circus go on all over again is just one big joke to me.The LP4 design is the lowest mintage and if I had to bet on any of this junk which I won't.I would bet on the low mintage.But that's just the difference between ignorance and knowledge in coin collecting.

 
At February 15, 2010 at 4:23 AM , Anonymous vaughnster said...

I'm sure many people justify paying inflated prices for the rolls a much better proposition than attending in person. Unless you live a few hours from Springfield you're probably going to get a hotel room nearby the night before. Take that cost, along with food, gas and your time, and $100-$200 for the 4 cancelled rolls doesn't seem that outrageous. Many people pay the premium to get them in hand early, thus not worrying about availability later. Just my "two cents."

 
At February 15, 2010 at 6:57 AM , Anonymous Anonymous said...

I totally agree with Vaughnster, unless you're from a two or three hour drive from SpringFIELD it pretty much is a better deal to buy on EBay. Additionally, this was announced as being the last new penny design for the next 49 years, the mintages overall for 2010 should be significantly less than the overall 2009 series, these may very well be the last of the copper topped coins, it remains to be seen if the Washington DC outlets will provide stamped rolls. There remains little demand from the banks for new rolled US circulating coins this year which speaks for itself about potential rarity of all 2010 coins.

Jim L.

 
At February 15, 2010 at 12:47 PM , Anonymous Bob M said...

I was at the ceremony on Thursday but I arrived a bit late traveling from St. Louis and subsequently missed the ceremony because my section of the line was confined to the lobby of the ALPLM. However, my wife and I were able to obtain 42 rolls. We could have stayed and gotten more but I made the decision to leave and head to the Cook St. post office for cancellation. In hindsight, that was a smart move because parking situation quickly degraded into a mess there and they soon ran out of the 42 cent Lincoln stamps. I was one of the first to have stamped and postmarked rolls from Springfield available on Ebay Thursday night and I profited handsomely from it over the weekend. Some people were charging outrageous amounts for rolls, I saw one postmarked roll and a program sell with a BIN for $60 and individual rolls for $30-40 each. I tried to be somewhat reasonable and listed mine as two roll sets with an extra BU 2010 Lincoln in a 2x2, a color photocopy of the program, and free shipping for a $40 BIN. I personally would never pay that much for rolls but plenty of people thought my price was fine and my rolls sold out while higher priced ones languished.

Before anyone calls me a soulless profiteer only concerned about the money, I used this event to make money to fund my personal collection and I did spend a good portion of the profits at the SLNA Winter Show on Friday. Give me some classic copper and silver Bust and Seated coins any day over modern stuff!

 
At February 16, 2010 at 10:38 AM , Anonymous Anonymous said...

One EBayer stated in his ad for the 2010 Springfield rolls (which DID include the RED postmark):
"Don't be fooled by only the BLACK commemorative stamp, that stamp is available for up to 30 days at the Springfield Post Office". Is this common knowledge?

Jim L.

 
At February 16, 2010 at 10:51 AM , Anonymous Anonymous said...

OMG!!! Now we are worrying about the color of the ink on the postmark??? What happened to COIN collecting?

 
At February 16, 2010 at 11:32 AM , Anonymous Anonymous said...

The Commemorative Stamp will be available at a designated place (Usually a Post Office) for a period of 30 days. Any dealer can send as many rolls to be stamped to that location as he needs. The only true way to present a FDI is a USPO stamp on the day they are made available. I hope this helps.

 
At February 16, 2010 at 12:42 PM , Anonymous Bob M said...

Philatelic commemorative postmarks are typically available for 30 days at one postal station. Each roll has to have correct postage on it(at least 44 cents) and one of the clerks told me that all rolls had to be brought in person, they were not accepting mail-ins. Philatelic first day cancellations can be mailed to the postal station for cancellation and will be postmarked within the 30 day window. For the 2010 Lincolns, this commemorative postmark has a bust image of Lincoln superimposed over the Union Shield with his signature underneath. the long part of the postmark reads "DEDICATION STATION SPRINGFIELD,IL 62703 ONE-CENT COIN LAUNCH FEBRUARY 11, 2010".

This postmark is much nicer than the standard business round red stamp that just lists the date and the Springfield postal station. However, that red stamp is the only one that is truly available for that day only. It seems that Ebay customers greatly prefer the commemorative cancellation over the business cancellation as judged by ended listings and my own experience. I was also in Springfield for the release of the Professional Life cents last year and was not able to get the commemorative cancellation because the line was outside in the hot sun and was a more than 2 hour wait. I stamped all of my rolls with the red business cancellation and the black commemorative postmarks typically sold for 2-4x the price of mine and other red stamps. I learned my lesson this time around and got to the post office before the big crowd hit.

 
At February 16, 2010 at 7:13 PM , Anonymous Anonymous said...

Bob, the commemorative stamp for the DC Presidency was used at the Post Office adjunct to the Union Station. They would only stamp 10 items. The (Postal Employees) said if you wanted more you would have to send them to Brentwood Rd Post Office with return postage and return address and they would hand stamp as many as you could send up to the 30 day time period and that included the Event program each item had to have correct postal Stamp affixed.

 
At March 15, 2010 at 7:05 PM , Anonymous Anonymous said...

You can bet the US Mint will make a hefty profit on these rolls too. Is anyone else just fed up with 50 cent costing ten bucks? Phhhht!!!

 

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