Sign of tougher times ahead

coastaljerseyguy

Only pennies but someone must have broken these out from some collection or piggy bank. Got the 79 year old 46 in Starbucks earlier in week and today received these 40+ year old, lightly circulated pennies from Manhattan Bagel. They were so shiny thought they were clad crap you normally get in change.

2windy2fish

I routinely spend/ cash in hundreds of BU Memorial cents going back to 1959.
As a dealer it’s not profitable for me to holder and sell them.
I can’t agree that finding these in change is a sight of tougher times ahead.

messydesk

It's not practical to try and get more than face value for bronze Lincoln Memorial cents. If someone wants to prove me wrong, they're welcome to give me a net profit on those I have in an old coffee can.

Morgan White

@2windy2fish said:
I routinely spend/ cash in hundreds of BU Memorial cents going back to 1959.
As a dealer it’s not profitable for me to holder and sell them.
I can’t agree that finding these in change is a sight of tougher times ahead.

I agree that I can't agree.

MFeld

@Morgan White said:

@2windy2fish said:
I routinely spend/ cash in hundreds of BU Memorial cents going back to 1959.
As a dealer it’s not profitable for me to holder and sell them.
I can’t agree that finding these in change is a sight of tougher times ahead.

I agree that I can't agree.

I agree that neither of you agree, nor do I.😉
It seems like quite a leap to find a group of cents like that in change and take it as “a sign of tougher times ahead”.

nencoin

Wait, people still pay in cash?

coastaljerseyguy

Yes, only worth 1 cent but someone held these for a long time.

coinbuf

@coastaljerseyguy said:
Yes, only worth 1 cent but someone held these for a long time.

That doesn't really mean much, perhaps they were held for a long time and then spent by an heir who was informed (correctly) that they are only worth face value. Your logic doesn't track, now if you get a few gold quarter eagles back in change then you might be on to something.

OAKSTAR

@coastaljerseyguy said:
Sign of tougher times ahead

From where I sit, you could break open a box of cents and find these all day long.

Coin Finder

I put Buff nickels and indian cents into the change stream a lot some culls some not..... also I open rolls of 1960 - 74 cents and spend those also.... Just for fun...

Tramp

Nothing here to see!

Morgan White

I think we're all in agreement.

Acarroll

@coastaljerseyguy said:
Yes, only worth 1 cent but someone held these for a long time.

With mintages in the billions, that was inevitable.

johnnyb

I pulled a lovely 1972 (or was it 1976) uncirculated red brown cent from pocket change last week.

Agree people may have been holding these and either gave up on hoping for a profit or just need the cash. But it’s fun to find nice 40-50 year old coins in circulation. I love that you respect coins enough to check the dates. Nothing is more fun than thinking it’s a red 2024 and seeing it’s copper.

WillieBoyd2

This week I received a 1946 cent and a 1959 cent from a store automatic checker.

Bochiman

My wife has been helping her 80yo mother, who used to own a restaurant business and has a lot of bottles of coins still, move recently.
She came home and told me about it and that she just plans to dump them at the credit union to convert to cash.

It's not "the economy is bad for her" bit, but rather the "too busy to search the coins to see if there is any silver or anything of value". I've told her to at least check for silver but she has been too busy, and too tired, and says it isn't worth her time.

I may step in and just have her bring them home and I'll look.

Just mentioning this because there are various reasons for this and not just "tough times"

291fifth

It could be heirs dumping coins they found in the estate.

Raptor48

Many years ago I had a big pot that I dumped my change into at the end of the day. When it filled I stopped that habit. The pot has remained untouched for about two decades and I can't work up the energy to take it down to a coin counting machine for exchange into paper. I'm pretty sure I am not the only person that has done something like this and eventually taken their "hoard" of "older" coins down to the store for reintroduction into the economy. That doesn't mean it the end of times...

jmlanzaf

@Morgan White said:
I think we're all in agreement.

I disagree.

At the very least the OP was not in agreement.

cladking

@messydesk said:
It's not practical to try and get more than face value for bronze Lincoln Memorial cents. If someone wants to prove me wrong, they're welcome to give me a net profit on those I have in an old coffee can.

I sell quite a few of these for prices up to $20/ roll. Of course there are more being hauled to the bank than I am selling.

The thing is they have to be nice rolls. Nobody wants rolls as they come because many rolls don't have a single coin in them that can be sold retail. Retail demands that the coin is reasonably well made and perfectly preserved. Even then there is so little demand for common dates you can't cover postage shipping them.

There is a growing demand for Gems and the markets are going to be surprised just how thin is the supply. Some dates are very scarce in Gem from BU rolls and the mint sets are almost all gone or corroded. Virtually every single Gem of some dates has been neglected and wasted. Mintages were in the billions but few were saved and their attrition skyhigh.

lkenefic

@jmlanzaf said:

@Morgan White said:
I think we're all in agreement.

I disagree.

At the very least the OP was not in agreement.

We might have to agree to disagree... ;-)

cladking

A lot of the most desirable dates are the zincolns. These coins are highly unstable and virtually evaporated in paper rolls. Early dates were very badly made so even mint sets aren't a good source for nice sellable coins. Try finding some nice rolls of the '84-D or '86.

lkenefic

I don't think the OPs situation in finding "minty" Lincoln Cents is all that unique... the 1970 in my 7070 was pulled from circulation just a few years ago and it replaced the previous coin (also pulled from circulation) since it was more RD and not RB...

FWIW... I also put Wheat Cents, corroded IHCs, and dateless Buffalo Nickels into Coinstar machines to try and "seed" the next generation of collectors. If we ever get to the point where I'm spending cull Large Cents for face value, then we can revisit the question of how bad the economy is, but I don't see that happening... yet.

messydesk

@cladking said:

@messydesk said:
It's not practical to try and get more than face value for bronze Lincoln Memorial cents. If someone wants to prove me wrong, they're welcome to give me a net profit on those I have in an old coffee can.

I sell quite a few of these for prices up to $20/ roll. Of course there are more being hauled to the bank than I am selling.

The thing is they have to be nice rolls. Nobody wants rolls as they come because many rolls don't have a single coin in them that can be sold retail. Retail demands that the coin is reasonably well made and perfectly preserved. Even then there is so little demand for common dates you can't cover postage shipping them.

There is a growing demand for Gems and the markets are going to be surprised just how thin is the supply. Some dates are very scarce in Gem from BU rolls and the mint sets are almost all gone or corroded. Virtually every single Gem of some dates has been neglected and wasted. Mintages were in the billions but few were saved and their attrition skyhigh.

So you want the can of cents I have, then?

cladking

@messydesk said:

@cladking said:

@messydesk said:
It's not practical to try and get more than face value for bronze Lincoln Memorial cents. If someone wants to prove me wrong, they're welcome to give me a net profit on those I have in an old coffee can.

I sell quite a few of these for prices up to $20/ roll. Of course there are more being hauled to the bank than I am selling.

The thing is they have to be nice rolls. Nobody wants rolls as they come because many rolls don't have a single coin in them that can be sold retail. Retail demands that the coin is reasonably well made and perfectly preserved. Even then there is so little demand for common dates you can't cover postage shipping them.

There is a growing demand for Gems and the markets are going to be surprised just how thin is the supply. Some dates are very scarce in Gem from BU rolls and the mint sets are almost all gone or corroded. Virtually every single Gem of some dates has been neglected and wasted. Mintages were in the billions but few were saved and their attrition skyhigh.

So you want the can of cents I have, then?

Sure. Consider them sold if you pay postage both ways. I'm probably not going to be interested in any further terms or conditions.

gumby1234

@coinbuf said:

@coastaljerseyguy said:
Yes, only worth 1 cent but someone held these for a long time.

That doesn't really mean much, perhaps they were held for a long time and then spent by an heir who was informed (correctly) that they are only worth face value. Your logic doesn't track, now if you get a few gold quarter eagles back in change then you might be on to something.

If he gets gold anything in change that would be signs of better times ahead. For him at least.

lkenefic

...here's the above referenced Lincoln Cent from my Type Set... gotten from circulation

Catbert

Click bait thread title.

Morgan White

@Catbert said:
Click bait thread title.

Agreed

coastaljerseyguy

@Catbert said:
Click bait thread title.

Always amazes me folks here know what others are thinking or why they post something. Why can't it be my opinion, even if wrong, and not trying to get clicks. There's starting to be a bit lot of anecdotal evidence things are going south in parts of the economy. The super rich are spending like there's no tomorrow when the elderly and poor are barely keeping it together. Someday the credit bubble will burst.

lermish

@coastaljerseyguy said:

@Catbert said:
Click bait thread title.

Always amazes me folks here know what others are thinking or why they post something. Why can't it be my opinion, even if wrong, and not trying to get clicks. There's starting to be a bit lot of anecdotal evidence things are going south in parts of the economy. The super rich are spending like there's no tomorrow when the elderly and poor are barely keeping it together. Someday the credit bubble will burst.

And that day was in 2022...