Bucket of Coins

I read where they are going to limit the rolls to a maximum of 6 rolls per time through the line. Additionally, there will be NO box sales at this event!  Does this make sense to anyone? If the demand is there go on and let people buy as much as they want and get them out of the storage areas!  All this creates is high prices for 50 cent rolls, the Mint should back two tractor trailers up the event and sell boxes to whomever wants them. I think it’s ridiculous for the Mint to not meet the demand of the public after making such a big deal about the release of these new 2009 pennies this year. Rather than hoard them in their own vaults, make them available to the public! This distribution system will continue to make the prices high and more difficult for collectors to obtain them. I guess $8.95 for a two roll Mint set of P and D won’t be so bad after all, since the Mint is obviously not about distributing the new pennies at face value!

Anyone else see the flaw in this?

I have been able to track down and confirm that the release of the “Formative years in Indiana” 2009 Lincoln cent is going to occur on May 14th at the Lincoln Boyhood National Memorial in Lincoln City, Indiana. This penny is the one with young Abe with an axe reading a book portrayed on it. It had been speculated that the event may occur in Indianapolis at the Capital, this squelches those rumors as the Indianapolis news was the first source to confirm this locale.

As far as coin collectors go, with all the frenzy of the first release let’s hope the US Mint plans ahead and brings enough for everyone there to get a box or two if they want. Let’s hope after the US Mint has now realized that they can get $13.90 for a P and D roll, that they don’t offer those exclusively and do away with the “penny exchange”. I am sure that however many they bring they will sell them out and hopefully the people working the penny sales don’t get too greedy and buy them all up themselves or cut a deal with some dealers to get the vast majority of what has been brought for the release. People’s greed sometimes amazes me, so I am not going to sugar coat that speculation. At the prices the first release brought I would be willing to take a second mortgage and buy all they have! Ha!

For those of you wanting to travel there for the event, let me warn you…Lincoln City, IN is pretty much in the middle of nowhere. I would expect dealers to be on hand to get their mitts on this second 2009 Lincoln release. But it should be interesting to see what kind of turn out will be there. I plan on being there since it’s about 1.5 hours from where I live, but I can see the vultures starting to circle now.