Values on Lincoln cents if discontinued?

mcgrover

Is there any consensus what will happen to the value of Lincoln cents if (when?) they are discontinued? I'm thinking of the collectible value, not the metal price. Has there been a comparable situation in the past that might be a basis for computing this? I'm mostly curious.

Shamika

I've wondered the same thing. Certainly when Wheat cents were discontinued there was a major increase in coin collecting in general although I don't know if the two were related.

messydesk

The ones that have decent value as collectibles should continue to have decent value. The ones that don't will be heavily promoted, plated, painted and/or punched-out. These will have high cost, but no value.

nags

If they were discontinued would there be a massive meltdown of the older pennies for scrap? I'd be interesting to see if any of those dates began fetching a premium.

Coinosaurus

<< <i>If they were discontinued would there be a massive meltdown of the older pennies for scrap? I'd be interesting to see if any of those dates began fetching a premium. >>



On the silver side, are the particular dates that have a premium due to the effects of melting? I am not aware of any. I think there are still plenty to go around for the collectors.

COALPORTER

In my lifetime, there have been 6** normal circulation coins discontinued plus a major
metal change from silver and metal change to cent and nothing to dracstic has really happened.

** wheat cent, franklin half, kennedy half, ike dollar, sac dollar, SBA dollar.

Steve

I would expect the Lincoln cent will be discontinued in the next few years as a money saving effort of the government. The value of a Lincoln cent collection will continue to slowly grow overtime as a result of inflation. JMHO. Steve

crypto79

<< <i>

<< <i>If they were discontinued would there be a massive meltdown of the older pennies for scrap? I'd be interesting to see if any of those dates began fetching a premium. >>



On the silver side, are the particular dates that have a premium due to the effects of melting? I am not aware of any. I think there are still plenty to go around for the collectors. >>



There are lots of them in most series that have been melted for long enough such as Seated, barber and what not. The jury is still out of the stuff still being melted on its long term affects although true rarity might be a thing of the past one roll collecting came into fashion, who cares if Cirs are rare if UNC are plentiful

Zoins

<< <i>If they were discontinued would there be a massive meltdown of the older pennies for scrap? I'd be interesting to see if any of those dates began fetching a premium. >>



31 CFR 82.1 would also have to be repealed or modified.

lasvegasteddy

i'd think there's just too many of tha lil guys everywhere
these fill for the most part hoards by numbers
they probably could even change the law on melting them and not dent the populations...foreigners laff at any us law are they being melted by the pound there?
i'd even bet foreigners sit on hoards n hoards of them too
my wag...just too many abound

AUandAG

I remember the Morgans and Peace dollar in circulations (dang I'm gett'n old) and when
they disappeared we all thought we'd be getting rich. Seems that everyone was of that
mind and thus not much happened, except that the price rose accordingly with the price
of silver. Fortunately millions were saved and there are enough left to satisfy the collecting
community.
I suspect that this is exactly what will happen with the cents.
bob

19Lyds

<< <i>Is there any consensus what will happen to the value of Lincoln cents if (when?) they are discontinued? I'm thinking of the collectible value, not the metal price. Has there been a comparable situation in the past that might be a basis for computing this? I'm mostly curious. >>

Eisenhower Dollars.

Just like with the IKE's, I would not expect Lincoln Cents to show any upswing at all.
If they are discontinued, they'll still be available en masse for many years to come. IKE's can still be procured at the bank for face value and typically dealers sell them for $1.50 to $3.00 each unless they are high grade.

Discontinuing the Lincoln Cent would have no impact on those coins which already enjoy a collectors premium since it's extremely rare that these would be encountered in any change or bank roll searches.

19Lyds

<< <i>The ones that have decent value as collectibles should continue to have decent value. The ones that don't will be heavily promoted, plated, painted and/or punched-out. These will have high cost, but no value. >>

Ditto! I forgot about the bottom feeders of the hobby.

illini420

The Memorial Cent was discontinued after 2008... haven't noticed anyone pulling those from their change or paying premiums for those yet.

lkeigwin

Isn't it illegal to melt cents?
Lance.

joeykoins

Interesting thread. I do believe, without a doubt! These will climb If and when this should happen. These brown little toys keeps this hobby alive. Think of it. The cent is so affordable to collect,purchase,HUNT,trade,sell,and If your a variety nut,such as I am, forget about it! Think of the young numisists, that are buying and seaching for these daily. The little kid in me , are also,included! Losing the Abe's,my opinion, would boost the prices but hurt the hobby, and hurt the young ones. just my opinion.

Zoins

<< <i>Isn't it illegal to melt cents?
Lance. >>



That's 31 CFR 82.1. It would need to be repealed or amended.

scotty1419

Tell someone they cant have something and they'll hoard 100s of them

I think it'll put a nice highlight on the Lincoln set, but nothing crazy. I'd expect prices and collecting of the series to increase, but not in a tremendous way.

dbemike

I would expect the mint to continue producing Lincoln cents for collectors and sell them at a premium in a mint set or rolls, as long as they are showing a profit on them, why not?

Don't flame me for saying that, but sounds like a no-brainer to me....$14.95 for about $2.00 worth of copper & zinc

19Lyds

<< <i>I would expect the mint to continue producing Lincoln cents for collectors and sell them at a premium in a mint set or rolls, as long as they are showing a profit on them, why not?

Don't flame me for saying that, but sounds like a no-brainer to me....$14.95 for about $2.00 worth of copper & zinc >>

Not if the coin is discontinued which would probably take an act of Congress given today's political climate.

Once these are no longer required by law to make, the US Mint cannot continue making them.

Once the word gets out that such a law has been passed or is about to pass, people will hoard them like crazy which will enable future collectors to still obtain tham at 2 to 3 cents each in bulk. Count on the last year of production to be hoarded in uncirculated rolls with a small surge in price being paid by the impatient and uninformed but the coins themselves will still be available to collectors 40 years from now in OBW Rolls just like the BiCentennial Washingtons, Kennedy's and IKE's. Those roills can typically be had for 3 - 4 times face depending upon the condition of the roll and the end coins.

I expect that the entrepreneurs of the world will be hawking complete sets and there will be plenty of buyers which will cause a surge in coin collecting interest but once thats past, these will fall into the "Meh" category of collecting.

The coin itself will not reach rarity status for probably 150 years when the wannabee millionaires finally part ways with their treasures after realizing that the return was paltry compared to current interest rates.

cladking

A lot of attention will be focused on cents from the general public and by collectors. This would
increased demand across the board for all US cents but especially for Lincolns and memorials. The
coins will very rapidly disappear from commerce causing many less informed people to think the
memorials will be scarce and billions will be stashed in change jars. The government will try to
retrieve as many as possible for zinc and copper but will be lucky to get even a 100 billion with
about 20 billion coppers (maybe less).

The real price increases would be on BU rolls of zincs and high grade zincs. All are common but
there are a few that aren't common enough to locate or to locate in quantity. Prices could go quite
a lot higher for choice or gem early dates and quantities of later dates (mid-'90's especially). The
price run-ups willbe permanent but further grpwth quite unlikely. In the long term it will be bad
for cent values but very good for nickels. If they withdraw the old nickels as well (probable) then
the benefit here will be temporary as well.

The bottom line is unless you're sitting on bags of zincolns or older gems it won't have a lot of
effect. If the economy improves as the coins are disappearing and interest rates are still low the
greatest long term impact might be on the large cents.

ambro51

If the cent is discontinued it will become a rare collectors item and the vast unwashed hoard of America will hold dearly onto their coin jars and cans. Supplies will run short in commerce reinforcing the hoards mentality to acquire more so as not to be left behind and in two weeks a roll of pennies will be selling for $2.00 .........if you doubt Americas ability to hoard pennies, think of the vast majority of the 2009 issues, few of which are ever encountered in circulation today