Lincoln Cent, 100 years, will Lincoln cent prices skyrocket?

Billet7 · January 1, 2009 5:27AM

What are your opinions on the future of the lincoln cent? Is the memorial cent done for?

2009 is the commemoration of the lincoln cent, 100 years! It is the first coin to depict a U.S. president and one of the most collectable and collected US coins. This year the new pennies will be unveiled, much like the state quarters, but these pennies will contain imagry of Abe Lincoln's life (I'm sure you all know this already.)

My question is this, what will this do to the early lincoln cents, will it spur collecting to new heights? Is now the time to get a hold of lincolns for investment, before the new pennies are introduced...what say you?

ChrisRx · January 1, 2009 5:30AM

Well it might help a little bit with bringing in newer collectors such as the state quarters did. I don't think there will be any "skyrocketing"

COALPORTER · January 1, 2009 5:38AM

I think people are already paying silly prices for these, at least that's what is reported. Maybe the extream reports are just "window dressing" to promote high prices.

lathmach · January 1, 2009 5:42AM

The Lincoln Cent is not the first U.S. coin to have a U.S. president on it, Billet7.

Ray

Billet7 · January 1, 2009 5:49AM

What was? As far as I know the Lincoln penny was the first US sanctioned and produced, standard issue coin to protray an american president Please tell me where I am mistaken, I don't know of another earlier one.

291fifth · January 1, 2009 5:50AM

Lincolns are already fully priced, if not overpriced, especially the hoarded key and semi-key dates. After 2009 it won't surprise me if Lincolns go into a deep sleep, much like what they did from about 1965-95 when they were as dead as dead can be.

coppercoins · January 1, 2009 5:57AM

Actually it's not the 100th anniversary of the Lincoln cent, that was 2008.

This is the 200th anniversary of the birth of Abraham Lincoln. That's what the commemoration really is.

I believe they will be strong for a while, then fall back down some...but I do disagree they will fall into a deep sleep. I believe that as they get older, they get more valuable because they are copper based and copper naturally turns brown. The more earlier better coins you have in Lincoln cents, the more your assets will grow over time.

Billet7 · January 1, 2009 6:48AM

coppercoins...fair enough, it has actually been 101 years since it was minted.

ambro51 · January 1, 2009 7:47AM

You've always got to think of Lincolns as a multi level collecting experience. The fellow who picks a nice 74D from circulation is probably not same guy who bids 6 figures for a super coin at auction.

But no I dont think prices are going to skyrocket....but the supply is limited and the demand is high, so those factors really control any kind of appreciation. Long term holding of RED coins with low POPs will tighten the supply and raise prices.

Oh and since the first Lincoln cents were issued in august 1909, it will actually only be 99 years when they bring out the 09's in Februrary

coppercoins · January 1, 2009 9:00AM

The first Lincoln cents were issued in 1909...correct. If you make a slot for every year they were made, you would have 100 slots filled at 2008.

Numiscent · January 1, 2009 9:21AM

<< <i>The first Lincoln cents were issued in 1909...correct. If you make a slot for every year they were made, you would have 100 slots filled at 2008. >>

Please correct me if I'm wrong, but wouldn't this statement mean that 2009 is indeed the 100th anniversary of the Lincoln Cent? For instance, 1910 was the first anniversary, and 2010 would be the 101st. There is indeed a slot for the first year like you say, but that year doesn't represent and anniversary. I just want to make sure I am advertising this correctly when I state 2009 is the 100th anniversary.

Thanks,
Tom

thisnamztaken · January 1, 2009 9:36AM

<< <i>Actually it's not the 100th anniversary of the Lincoln cent, that was 2008.
This is the 200th anniversary of the birth of Abraham Lincoln. That's what the commemoration really is. >>

Coppercoins is correct.

"WASHINGTON, DC - To honor the 200th anniversary of President Abraham Lincoln's birth in 2009, legislation was enacted in late 2005 suggesting four new penny designs. The new designs, for the back of the coin with the Lincoln Memorial, are to depict different aspects of Lincoln's life: his birth and early childhood in Kentucky; his formative years in Indiana; his professional life in Illinois; and his presidency in Washington, DC. From 38 Lincoln designs prepared by U.S. Mint artists, the Citizens Coinage Advisory Committee (CCAC) yesterday selected designs for three of the four proposed themes.

To honor Lincoln's birth and humble beginnings, the CCAC opted for two designs of a log cabin symbolizing the place of Lincoln's birth (images 1-02 and 1-05). The two designs differ only in the location of the date of Lincoln's birth, 1809." - Americans for Common Cents website

There will be no "skyrocketing" of prices IMHO; just a brief surge and then a settling down to where they have been recently. As others mentioned though, it should awaken some interest from new collectors.

Numiscent · January 1, 2009 9:40AM

Yes, I know the point of the new design is to honor the anniversary of Lincoln's birth and not the anniversary of the Lincoln Cent, but isn't this still the 200th anniversary of the design, incidentally?

dbcoin · January 1, 2009 9:49AM

What was? As far as I know the Lincoln penny was the first US sanctioned and produced, standard issue coin to portray an american president Please tell me where I am mistaken, I don't know of another earlier one

I might be wrong, but the 1900 Lafayette Dollar has Washington on the obverse. There is a 1903 one dollar gold piece with Jefferson on the obverse as well.

There was an episode of "Who Wants to Be a Millioniare" and the question was who was the first president on a US coin and the "correct" answer they gave was Lincoln.

coppercoins · January 1, 2009 9:58AM

If it's a date we are talking about, then yes. Your 100th birthday would be at the end of 100 years of life, beginning your 101st year. but with an object, the 100th produced would be the commemoration - not the 101st. That would be 2008.

If they wanted to commemorate 100 years of Lincoln cents, it would have been 2008.

Because they are commemorating Lincoln's 200th birthday, it's 2009.

Numiscent · January 1, 2009 10:15AM

Charles,

I agree with you on everything there. I guess the only difference is the word anniversary, which is the key word I have been dwelling on. I assume all would agree that 2008 marks 100 years on Lincolns being minted, while 2009 marks the 100th anniversary of the first year they were minted. Now I just see my confusion was based on a technicality. Thanks.

By the way, your drawings are incredible! I attended a nationally ranked art school for college, and remember that only a very small percentage of people among that selected group had such talent for extremely technical drawing like yours. I hope the painstaking labor is as rewarding to you as the viewing is to those who own it.

cladking · January 1, 2009 10:30AM

Yes and no.

I was just looking at the PCGS price guide and see the entire set now lists at
over $31,000 in gem (MS-65). This set could have "easily" been put together
in 1995 (raw) for a couple or three thousand dollars. Of course you wouldn't
have been able to find many of the coins. We all know how tough a date like
the '26-S is and there are several others which are scarce in gem as well as
many that are impossible to find raw in gem even back in the mid-'90's. But
here are the prices now that are far higher.

My guess is that much of the move in these prices is already complete. People
tend to react ahead of time to events that are highly likely or certain to occur.

But the same thing that happened to MS-65 prices just might be about to hap-
pen to the MS-66 and 67 memorial prices. There is likely to be increasing demand
for these as people come to believe this series is complete and many of these
coins are scarce in nice attractive condition.

Keep in mind too that there is another predictable event in the near future which
might have an impact on prices of most coins in the Lincoln series; the discontin-
uation of the denomination in commerce. This could have a dranmatic impact on
demand since virtually everyone in the country grew up with these coins and will
see them quickly disappear into the furnaces and fade from memory.

There's also likely to be increasing interest in varieties as people complete their
sets and look further afield. These make the circulating coins far more interesting
than just the occassional common wheat cent.

While most of the price activity will be muted or downward until they discontinue
this coin don't expect that there can't be more excitement in the future; perhaps
the near future.

cladking · January 1, 2009 10:36AM

<< <i>

Oh and since the first Lincoln cents were issued in august 1909, it will actually only be 99 years when they bring out the 09's in Februrary >>

And this also means that the memorial cents were made longer than the wheat cents.

ambro51 · January 1, 2009 10:05PM

Wouldn't it be great if some bozo forgets to change out the memorial die.....and one night shift the mint makes a few thousand "mules". And somehow they miss all the inspections and get mixed into a huge shipment of circulating coins?

That would be a wild ride, eh?

Numiscent · January 1, 2009 10:20PM

Thank God for bozos, and for rebels. It's been over a year now since I read about the Wisconsin quarters with the extra leaf, but last I heard, it was suspected to be an intentional addition by someone on the inside.

Lincoln Cent, 100 years, will Lincoln cent prices skyrocket?

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