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Common 1¢ demand up
3/10/2008

By Mark Ferguson
COIN VALUES Market Analyst

With the approach of the 100th anniversary of the series in 2009, collectors and dealers have anticipated greater demand for old Lincoln cents. That has led to higher prices for key and semi-key dates.

In the 21st century coin market, some of the greatest gains on a percentage basis have nothing to do with the scarcity of certain items.

Mass-market demand driven by cable TV vendors often leads to sudden and large price spikes when a series is targeted for promotion.

With a combination of low per unit cost and potentially high markups, plus the centennial and possible end of Lincoln cent production, the current situation is perfect for the hype treatment. As these firms accumulate Lincoln cents for 2008 and 2009 marketing campaigns, look for higher prices in common material.

The current wholesale value of $170 for a 5,000-piece bag (3.4 cents apiece) of common circulated Wheat cents may seem mundane, but those same bags were selling for $100 or less a few years ago. Some may scorn the lowly circulated Wheat cent, but 70 percent appreciation in a short time is impressive.

"We're out of certain dates," reports the owner of one of America's largest suppliers of inexpensive Lincoln cent bags and Brilliant Uncirculated rolls. It's a situation that has never occurred in the long history of this firm, according to the owner.

Specific dates could do especially well in the coming months. Coins that are available in quantity and provide the opportunity to tell a story are always sought for these kinds of campaigns. 1958 and 1959 Lincoln cents – the last year of the Wheat reverse and the first year of the Lincoln Memorial design – are a natural pair.

The 1943 zinc-coated steel cents are an obvious choice and they could be paired with other cents from the World War II era.

Don't be surprised if the seven-piece 1982 set of 95 percent copper and copper-plated zinc cents makes a brief comeback. Cheap S-Mint Lincoln cents could be hyped, and people hawking date sets (one cent of each year) will have to obtain a 1922-D.

For those owning hoards of old, common Lincoln cents, 2008 may offer an opportunity to sell in bulk for historically high prices.

 
 

 
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