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V12 2009 INDEX       E-SYLUM ARCHIVE

The E-Sylum: Volume 12, Number 16, April 19, 2009, Article 27

NEW LINCOLN CENT DESIGNS SLOW TO ENTER CIRCULATION

Dick Johnson forwarded this USA Today article about the new Lincoln cent designs. I'm still waiting to see one in circulation myself. -Editor
Lincoln Cent cabin design The penny, often picked on for its piddly value, has found some self worth in 2009. The 2009 Lincoln cent slow to spread into consumers' pockets is being sold for big bucks. Single coins have fetched more than $1 each. Fifty-cent rolls have frequently ranged from $2 to more than $50 at online auction websites.

The first of four new penny designs officially launched on Feb. 12 Abraham Lincoln's birthday but the 634.8 million coins produced by the U.S. Mint have barely made it into circulation.

The penny distribution "is slow-going," says Mint spokesman Greg Hernandez. "Because of the downturn and the lower demand for coins (for business transactions), banks are not demanding as many coins," he says. "As a result, the Federal Reserve has a pretty large inventory."

The sense of rarity has made the coin seem much more valuable, says Dave Harper, editor of Numismatic News.

To read the complete article, see: New penny's slow start in circulation increases value (http://www.usatoday.com/money/industries/banking
/2009-04-13-new-penny-higher-value_N.htm)



Wayne Homren, Editor

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