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Now that the memorial penny series is obsolete...


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What do you guys think will happen to the memorial-backed pennies?

 

They've been made in such enormous quantities that I have a hard time believing that they will drop out of circulation quickly, especially since most people I've talked to don't even know that the redesign will be permanent. It's been 10 years since the quarter reverse has been changed, and 50-75% of all quarters I've come across (which is quite a few, as I'm a cashier) have been the old design. Still, quite a few wheat pennies were made back in their day, but those were snatched up pretty quick once people realized they weren't coming back.

 

I'm really curious to see what the pattern is going to be for the memorial-back pennies. Most of the ones from before '82 with their original lustre are gone already. My guess is that the '59s and more rare dates (particularly the 1968-74 S that are still in circulation) are going to disappear first along with the remainder of the older pennies with their original lustre. The '60-81 are probably going to hang around for a while, but I'd guess they're going to disappear too. Once this is done, I'm guessing that the remainders will probably remain in circulation for a good long while until hoarders get desperate enough to snatch them all up and cache them somewhere.

 

As for me, I'm hoping to hoard the ones that might accrue value later on (scarce dates and AU or better condition). I like to think of it as a cheap long-term investment. So far I have 300-ish pre-1982 pennies and 500+ pennies between AU and MS, just from roll searching in my spare time.

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As for me, I'm hoping to hoard the ones that might accrue value later on (scarce dates and AU or better condition). I like to think of it as a cheap long-term investment. So far I have 300-ish pre-1982 pennies and 500+ pennies between AU and MS, just from roll searching in my spare time.

 

The problem with the Lincolns is that they were all saved in substantial

quantities since the 1930's. Savings fell off substantially in 1965 but many

dates later are quite common anyway. Even though dates may be scarce

AU there will be enough uncs to suppress the value most likely. The only

likely exceptions will be dates where the coins set aside are usually very

poorly made like the '66 and the '71. There should be substantial increases

in the '74-S sm dt (these were modified dies for striking aluminum) and a

few varieties.

 

Savings of new cents became more sporatic after 1982 and these coins don't

survive well in circulation or in rolls and bags. Some of these will be quite

elusive especially in attractive grades above XF. There are several here but

the '84-D and '86 dates are standouts.

 

I wouldn't get rid of any nice coins but it might be a good idea to look for

some nice coins from rolls and sets to set aside rather than circulated coins.

They often cost only little more and the potential demand is far higher.

 

The Lincoln memorials are vastly underappreciated and this may not last

forever.

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As to the possible future of those Memorial backed cents it could also greatly depend on the Mint making them again in the future, dropping them all together, etc. Knowing the latest crazes of the Mint I would suspect that soon they will start making cents with the front of the Memorial, sides of the place, some coins with a room from inside, a roof shot, etc. This would mean that by the year 2015 there will be about 1,000 varieties of the Cent and it will cost the government about $1 to make each one. Remember this is no problem. They can just raise your taxes if they don't sell. :ninja:

On a serious note though. Maybe not right now but eventually people will start the search for those older ones and you'll hear many web sites stating bags of UNSEARCHED Memorial Cents.

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