By Al Doyle
Rather than wait for
banks to obtain a supply of the first of four
commemorative 2009 Lincoln cents, impatient
collectors are bidding prices on today's modest
supply to incredible levels.
EBay became the source for numerous 50-piece
Brilliant Uncirculated rolls shortly after the
Feb. 12 ceremony honoring Lincoln's 200th
birthday and a limited release of the new cents.
Prices varied widely from lot to lot, but even
buyers at the lower end of the spectrum paid
dearly for their coins.
Winning bids for 25 rolls sold on Feb. 16 and 17
ranged from $26.99 to $52.99 per roll. The total
realized of $914.21 averages $36.57 per roll.
Five of the 25 winning bidders paid less than
$30. Three lots sold for more than $50 each.
Free shipping was offered on most of these
sales, which is a small consolation when paying
an average price of 73 cents per coin.
Even dealers and wholesalers who have extensive
contacts with banks and armored car firms have
been unable to obtain any new cents. Coin
merchants who have well-deserved reputations as
Lincoln cent suppliers are receiving dozens of
calls a day from customers who are left
The Federal Reserve has ordered 150 million
Childhood (Log Cabin) reverse cents. That is a
small amount by 21st century standards, and the
Fed has not provided a precise release date for
the coins. If that number remains unchanged,
it's quite possible that the majority of these
one-year commemorative design cents will be
hoarded by hobbyists and never enter
So where could prices go in the future? Even
with uncertainty about when the general public
will be able to obtain new cents, the recent
eBay prices appear to be unsustainable. Once
dealers are able to obtain a supply of the new
2009 Lincoln, Childhood cents, prices should
retreat to a more reasonable range.
It's safe to say that collectors will have to
spend more for 2009 Lincoln cents than they have
paid for new cents in recent years. Even at $10
a roll – a sum that would have been considered
outrageous in 2007 or 2008 – patient buyers who
wait a few weeks should do far better than
overly anxious eBay bidders.
© 1992-2018 DC2NET™,
Inc. All Rights Reserved