Sales Ending for 2009 Annual Sets and 2009 Lincoln Cents

On June 15, 2010, the United States Mint will end sales of the 2009 Proof Set, 2009 Silver Proof Set, 2009 Uncirculated Mint Set, and the 2009 Lincoln Cent Two Roll Sets for the "Professional Life" and "Presidency" designs. The impending close of sales has been known since mid-May, when a "Last Opportunity" section was added to the US Mint's website.

The 2009 Proof Sets and Mint Set each contain the four different 2009 Lincoln Cents struck in a special composition of 95% copper, rather than the standard predominantly zinc composition. In the future, this may help the sets hold distinction and elevated demand.

As it stands, the last reported sales figures for the 2009 annual sets are above the levels of last year's sets with the exception of the Silver Proof Set. The tables below show the sales start date, sales end date, and total sales for each set for 2009 and 2008.

Product	Sales Start	Sales End	Sales To Date
2009 Proof Set	June 1, 2009	June 15, 2010	1,475,264
2009 Silver Proof Set	July 17, 2009	June 15, 2010	690,822
2009 Mint Set	Oct 1, 2009	June 15, 2010	771,204
Product	Sales Start	Sales End	Total Sales
2008 Proof Set	June 24, 2008	Dec 14, 2008	1,405,674
2008 Silver Proof Set	Aug 26, 2008	July 17, 2009	774,874
2008 Mint Set	July 30, 2008	Feb 25, 2009	745,464

The 2008 Proof Set had sold out unexpectedly before the close of the year and ended up with the lowest total sales for a standard proof set since 1959. The sets began selling at a premium immediately after the early sell out. The 2009 Proof Set looks like it will have marginally higher total sales, but this will still be a low number on a historical basis. As mentioned, the higher mintage may be offset by the greater residual demand created by the included 2009 Lincoln Cents and the countless number of sets broken up to obtain the cents.

The 2009 Silver Proof Set is on track to have the lowest total sales for a silver proof set since 1998. After peaking at 1,175,934 with the 2004 Silver Proof Set, total sales have decreased steadily each year since then.

The 2008 Mint Set has enjoyed a large rise in price since it sold out. The sets seem to sell for $45 to $50, which is almost double the original issue price at the higher end of the range. Last year, before the 2008 Mint Set sold out, I mentioned it frequently as a potential winner. This year, I also like the prospects of the 2009 Mint Set. It was available for a shorter period of time compared to the other sets and will have relatively low final sales. Once again, the inclusion of special composition Lincoln Cents should add a permanent incremental source of demand. Of all the products going off-sale on June 15, I like the 2009 Mint Set the best.

Last but not least, sales of the 2009 Lincoln Cent Two Roll Sets will end on Tuesday. When initially announced, many collectors didn't like the fact that sets containing $1.00 face value worth of circulating coins were priced at $8.95 each. After the first set sold out in a few weeks and began selling at a big premium on the secondary market, more collectors started ordering the sets.

The final two designs will fall between the first two designs in terms of total number of sets sold. The final sales or last reported sales are shown below.

	Sales To Date
Birthplace	96,000
Formative Years	300,000
Professional Life	291,534
Presidency	259,941

The final set for the "Presidency" design has better prospects than the "Professional Life" design because of the lower total sales and also the low mintages of the coins included. The 2009 P & D Presidency Lincoln Cents had a final mintages of 129,600,000 and 198,000,000, respectively. These represent the lowest mintages for circulation strike cents since 1955.

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2010 Lincoln Cent Two Roll Set Sales at 45,483

The initial sales figures for the US Mint's 2010 Lincoln Cent Two Roll Set have come in far below sales levels for last year's 2009 Lincoln Cent Two Roll Sets. From the start of sales on April 8, 2010 through April 11, 2010, the US Mint has recorded sales of 45,483 sets.

I've gathered the debut sales figures for each of the 2009 Lincoln Cent Two Roll Sets for comparison. Total sales as of the latest weekly sales report are also included, with sold out sets followed by an asterisk (*). Here's how the numbers stack up:

2009 & 2010 Lincoln Cent Two Roll Set Sales

	debut sales	total sales
Birthplace	63,772	100,000*
Formative years	200,055	300,000*
Professional Life	152,146	282,296
Presidency	153,427	246,896
Union Shield	45,483	45,483

As I mentioned in my initial post on the product, the timing of the release could have been better planned. Back in mid-January, when the first 2010 Lincoln Cents started appearing, secondary market prices were $10 or more per roll. Even by mid-February, when the US Mint officially launched the new design, roll prices were still elevated. Now, three months into the game, availability has been increasing and sealed boxes of 50 rolls can be found for $55 to $60 by careful bidders. The segment of the coin collecting population willing to pay premiums to get new coins early have already purchased their rolls.

The other aspect working against this offering is the fact that the Union Shield design will be minted for the entire year. Last year, the four different designs divided already diminished coin production, resulting the 2009 Lincoln Cents with the lowest mintages in decades. Recent US Mint coin production figures suggest that the 2010 Lincoln Cent will have a combined mintage above 2 billion. Paying a premium for last year's sets was partially justifiable by the low mintages, but this year the situation will be different.

These factors aside, some collectors will still pursue the set as a US Mint packaged Lincoln-related collectible, or as the final component in a complete group of Lincoln Two Roll Sets (LP1 - LP5 product codes). Also, there's the off-chance US Mint could do something unexpected like cut off sales at 100,000 (like they did for the Birthplace Set) and create a packaged rarity. However, realistically I don't think this will happen. I think this offering will be available for the rest of the year.

View the complete US Mint Sales report over at Coin Update News.

PCGS Secure Plus and NGC Plus Grading

Separately, I have just published an article related to recently announced "plus grading" by third party coin grading services. I haven't covered this here, but coin grading company PCGS recently announced a new service known as PCGS Secure Plus. This includes plus grading for coins which verge on the next technical grade level and added security features through laser scanning.

On the same date, NGC announced that they would be implementing plus grading and asked collectors and dealers for recommendations. Where PCGS is limiting the application of plus grading, I think NGC has the opportunity to broaden and define the designation.

Read the full article Recommendations for NGC Plus Grading

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2010 Lincoln Cent Two Roll Set

The US Mint has released the product details for the 2010 "Preservation of the Union" Lincoln Cent Two Roll Set. The product had previously been announced, but pricing and ordering information were not available until today.

Each 2010 Lincoln Cent Two Roll Set will include one 50-coin roll from the Philadelphia Mint and one 50-coin roll from the Denver Mint of the newly designed Lincoln Cents. The rolls will be packaged in special paper wrappers depicting the new Union Shield design and indicating the mint of origin and face value of the contents.

The two roll sets will go on sale April 8, 2010 at 12:00 Noon ET, priced at $8.95 each. There are no household ordering limits indicated.

The product release comes nearly two months after the official launch ceremony for the 2010 Lincoln Cent, which took place on February 11, 2010. It's also almost three months since the first 2010 Lincoln Cents entered the channels of circulation (in Puerto Rico) in mid-January 2010. In some ways, it seems like the US Mint has missed the boat with this offering, with the initial excitement and roll prices having already peaked and subsided.

Last year, the US Mint had offered two roll sets for each of the four different 2009 Lincoln Cent designs. The sets for the "Birthplace" design had sold out after two weeks and sales of 96,000 sets. The "Formative Years" design sold out after three months and sales of 300,000 sets. The "Professional Life" and "Presidency" designs remain available and have sold 280,667 and 243,815 sets, respectively.

The 2009 Lincoln Cent Two Roll Sets were each initially offered with an ordering limit of five sets per household. The ordering limit has been removed for the remaining available "Professional Life" and "Presidency" sets.

Coin Update News: March 2010 US Mint Gold and Silver Eagle Sales

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2010 Lincoln Cent Launch Ceremony Held, Two Roll Sets Announced

Yesterday, the launch ceremony for the 2010 Lincoln Cent was held in Springfield, Illinois. The new reverse of the coin features the Union Shield, intended to represent Abraham Lincoln's preservation of the United States as a single and united country.

The launch ceremony was held at the Abraham Lincoln Presidential Museum where approximately 400 people arrived for the initial presentation. There was some anticipation and excitement surround the event, as people had began lining up as early 5:30 AM and came from as far as Texas.

The coin exchange following the ceremony had 20,000 rolls available. This is the same number that had been available for the last three penny ceremonies. A special postage cancellation stamp was prepared for the ceremony and available at the Cook Street Post Office.

These details come from a first hand account of the ceremony from Greg Fleckenstein published on Coin Update News.

Read the full story: 2010 Lincoln Cent Launch Ceremony and Coin Exchange



Separately, the US Mint announced the first product specifically highlighting the 2010 Lincoln Cent. Within their press release recapping the event, they mentioned that 2010 Lincoln Cent Two Roll Sets will be available in the spring. A similar product had been available for each of the 2009 Lincoln Cent designs priced at $8.95 per set. The "Professional Life" and "Presidency" Two Roll Sets still remain available for sale at the US Mint.

2010 Lincoln Cent Rolls that have been stamped and canceled with the special launch ceremony cancellation have already found their way to eBay, where they have sold for prices ranging from $20 to $70 per roll. Some of the higher priced sales include the pamphlet from the launch ceremony. Unmakred single rolls continue to sell for about $12 to $18 per roll. Here are the current eBay auctions.

Prices for the unmarked rolls will no doubt decline as more of the new cents are distributed and eventually when the US Mint's Two Roll Set goes on sale. A similar situation occurred just after the release of the 2009 "Birthplace" Lincoln Cents when regular rolls sold for as much as $50 each.

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2010 Union Shield Lincoln Cent Launch Ceremony

The United States Mint will host the launch ceremony for the newly designed 2010 "Union Shield" Lincoln Cent later this week. The ceremony takes place after some of the coins have already reached the channels of circulation.

Update 2/10/2010 9:30 PM ET: The Springfield, Illinois launch ceremony will take place tomorrow as scheduled. The Washington DC coin exchanges will not take place as the Federal Government is closed tomorrow due to the blizzard.

The new reverse design features a Union Shield with a scroll draped across, bearing the denomination "One Cent". The shield has thirteen vertical stripes and a horizontal bar with the inscription "E Pluribus Unum", representing the original states joined in one compact union in support of the federal government. This design is intended to be emblematic of Lincoln's preservation of the United States as a single and united country.

The launch ceremony will be held on February 11, 2010, 9:30 AM CT at the Abraham Lincoln Presidential Museum located at 212 N. Sixth Street in Springfield, Illinois. The ceremony will be followed by a coin exchange, where attendees will be allowed to exchange currency for rolls of the new coins. The US Mint has announced a minimum of two rolls and a maximum of six rolls for the exchange (subject to change).

On the same date, coin exchanges will also be available at locations in Washington, DC. The exchanges will be available at the US Mint sales counter located at Union Station and the first floor of the US Mint's headquarters at 801 9th Street NW.

I haven't seen as much excitement from collectors about the upcoming ceremony as some of the previous ceremonies for the 2009 Lincoln Cent designs. After the first ceremony in Hodgenville, Kentucky proved to be an incredible boon for attendees who were able to obtain rolls at the coin exchange, the second and third ceremonies had much more buzz and higher attendance. The second ceremony was even called "Numismatic Woodstock" as approximately 3,000 people traveled to Lincoln City, Indiana for the ceremony and exchange.

By the fourth ceremony held in Washington, DC, attendance had declined to just a few hundred people. This may have been partially due to the weather and the fact that the coin exchanges were available at other DC locations, held indoors.

It will be interesting to see how many people attend the upcoming 2010 Lincoln Cent launch ceremony. I think some of the anticipation has been lost due to the fact that 2010 Lincoln Cents have been in the hands of some collectors for nearly one month. As early as January 12, 2010, some examples of the first 2010 Lincoln Cents started appearing in Puerto Rico and quickly found their way to eBay, where collectors throughout the United States could acquire them, albeit at a premium.

The United States Mint is yet to announce any products which specifically highlight the 2010 Lincoln Cent, although it seems likely that something is in the works. For the 2009 Lincoln Cents, the US Mint had offered Two Roll Sets, a separate Lincoln Proof Set, and the Lincoln Coin and Chronicles Set.

If any readers do plan to attend the ceremony on February 11 and would like to provide photos or a report of the ceremony, please contact me.

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The First 2010 Lincoln Cents

Even though the 2010 Lincoln Cents won't officially be launched until next month, the newly designed coins are already in the hands of some collectors.

The coins have apparently reached circulation channels in Puerto Rico, where some people have received them in change for transactions. Rolls of 2010 Lincoln Cents have also been available for sale on eBay for approximately the last week from a seller based in Puerto Rico. Here are the seller's current eBay auctions.

Some other eBay sellers are offering pre-sales, but the above seller definitely has the rolls already in hand. A Mint News Blog reader Jim L has reported receiving rolls and provided pictures.



I was also able to obtain some closer pictures of the obverse and reverse of the new 2010 Lincoln Cent. (Click image for larger version)



The official launch ceremony for the 2010 Lincoln Cent is scheduled to take place on February 11, 2010 at 9:30 AM in Springfield, Illinois at the Abraham Lincoln Presidential Museum. The ceremony will be followed by a coin exchange where attendees will have the opportunity to exchange currency for rolls of the new cents.

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2009 Lincoln Cent Mintages

The final mintage figures for all of the 2009 Lincoln Cents are now available. The "Presidency" design has come in with some surprisingly low numbers since apparently no additional coins were produced during the month of December.

When the US Mint had updated their coin production figures to reflect production for November 2009, they had indicated that production of 2009 Lincoln Cents was still ongoing. It appears that this was not correct as the figures remains unchanged. None of the coin production figures for other denominations have changed either, suggesting that no coins were produced for circulation during the month of December.

The mintages for all 2009 Lincoln Cents are shown below:

	Philadelphia	Denver	Total
Birthplace	284,400,000	350,400,000	634,800,000
Formative Years	376,000,000	363,600,000	739,600,000
Professional Life	316,000,000	336,000,000	652,000,000
Presidency	129,600,000	198,000,000	327,600,000
Total	1,106,000,000	1,248,000,000	2,354,000,000

The production numbers for the final design show a sharp drop from previous levels and create a new mintage low. The 2009-P "Presidency" Lincoln Cent had just 129,600,000 coins produced. This number is scant in comparison to the mintages for Lincoln Cents over the past several decades.

Except for this year, every date and mint mark combination for the Lincoln Cent series since 1975 has had a mintage in the billions. The lowest mintage cent with the Memorial reverse was the 1968-S at 258,270,000. To find a mintage lower than the 2009-P "Presidency" Lincoln Cent, you have to go back to the 1955-S Lincoln Cent which had a mintage of 44,610,000.

The mintage of the 2009-P Presidency Cent is sufficiently low to generate some excitement about the coin and probably drive up prices. Also, the coin's status as the recent mintage low is likely to be retained for the foreseeable future. During 2009, the already low production of cents had to be divided amongst four different designs. This is something that will not be repeated in 2010 and beyond when a static design will be used.

The United States Mint continues to sell two roll sets for the 2009 Lincoln Cent "Presidency" design on their website. These are priced at $8.95 for the set with an ordering limit of five per household still in place with no ordering limits. As of the most recent sales report, the Mint has sold 215,709 of the sets.

Rolls of the 2009 Lincoln Cent Presidency design can also be found on eBay. Recently, sealed 50 roll boxes of the Philadelphia Mint coins have sold for around $150 each with boxes of the Denver coins selling for about $75. Here are the current eBay auctions for 50 roll boxes of the Presidency design.

Coin Update News:
Latest US Mint Sales Report

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2009 Lincoln Penny Launch in Washington DC

On November 12, 2009 the United States held the launch ceremony for the final 2009 Lincoln Cent. The "Presidency" design was the last of four different reverse designs issued for Lincoln's bicentennial, to represent the different stages of his life.

The launch ceremony was held at the Ulysses S. Grant Memorial Statue at the U.S. Capitol Building in Washington, DC. Weather for the event was cold and rainy, which likely had an impact on the turnout. An estimated 200 people were on hand for the event. Many who might have attended the ceremony may have opted to go to other Washington DC area coin exchange locations which were held indoors.

You can read a full report of the launch ceremony by Les Peters on Coin Update News. The article includes some pictures from the launch ceremony, a few of which are also reproduced at the end of this post.

As with prior 2009 Lincoln Cent launches, rolls of the new design obtained from the launch ceremony and other locations have already been put up for sale on eBay. Stamped and USPS canceled rolls from the ceremony have been selling for around $15 each. Unmarked rolls have sold for less, with some 50 roll boxes sold for $80 ($1.60 per roll). Sales activity is certainly much different than the frenzy following the release of the first design. At the time, some single rolls sold for as much as $50 each.

Here are the current 2009 Lincoln Cent Presidency Rolls on eBay.

Last week's ceremony also might be viewed as the end of the year of Lincoln. This year many of the US Mint's most popular products have been centered around Lincoln's bicentennial. Sales of core annual products have also been impacted by the inclusion of special versions of the 2009 Lincoln Cent.

Earlier this year, the US Mint issued the 2009 Abraham Lincoln Commemorative Silver Dollars in proof and uncirculated versions. Throughout the year, four separate Two Roll Sets were issued for each 2009 Lincoln Cent design release. Special 95% copper 2009 Lincoln Cents were produced for inclusion in the 2009 Proof Set, 2009 Silver Proof Set, 2009 Uncirculated Mint Set, and separate 2009 Lincoln Proof Set. Lastly, the Lincoln Coin and Chronicles Set was issued in October, sold out in about 30 hours, and went on to rapid secondary market success.

Although the Bicentennial year will have concluded, there are two new Lincoln coins on the horizon for next year. As covered in a prior post, the 2010 Lincoln Cent will be released featuring a brand new reverse design. Additionally, the 2010 Lincoln Presidential Dollar will be released towards the end of the year. The final design for the Presidential Dollar coin featuring Abraham Lincoln has not yet been announced.

Photos from the 2009 Lincoln Cent Presidency design launch ceremony.

Coverage of prior 2009 Lincoln Cent launch ceremonies:
Hodgenville, Kentucky - Birthplace Cent
Lincoln City, Indiana - Formative Years Cent
Springfield, Illinois - Professional Life Cent

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2009 Lincoln Cent Presidency Design Release and Launch Ceremony

On November 12, 2009, the final 2009 Lincoln Cent design will be released by the United States Mint. The release will be marked by an official launch ceremony in Washington DC, the unveiling of the 2010 Lincoln Cent design, and the start of sales for the 2009 Lincoln Cent "Presidency" Two Roll Set.

The 2009 Lincoln Cent "Presidency" design features a view of the half completed United States Capitol dome. This is intended to symbolize a National torn apart by civil war, and the resolve Lincoln showed as he guided the country through the crisis. The reverse was designed by Susan Gamble and sculpted by Joseph Menna.

The official launch ceremony will take place on November 12, 2009 starting at 10:00 AM ET. The event will be held in Washington DC at the Ulysses S. Grant Memorial Statue, below the west front of the US Capitol Building. Similar to prior launch ceremonies, attendees will have the opportunity to exchange currency for rolls of the new coins after the ceremony. The US Mint has indicated that the exchange will be subject to a minimum of two rolls and a maximum of six rolls per person.

Similar to previous 2009 Lincoln Cent releases, coin exchanges will also be available at other US Mint locations in Washington, DC. This includes the US Mint sales counter located at Union Station and the first floor of the US Mint's headquarters at 801 9th Street NW.

Coin World has reported that the US Postal Service has created special postal cancellation for the Washington DC launch. The cancellation will be available at the Postal Museum, located at 2 Massachusetts Ave NE, directly across from Union Station.

The launch ceremony will include the unveiling of the designs to be used for the 2010 Lincoln Cent. The new reverse design is intended to be "emblematic of President Lincoln's preservation of the United States of America as a single and united country." A total of eighteen design candidates were released by the United States Mint earlier this year. The designs featured views of the Capitol building, American flags, shields, eagles, and a bundle of wheat stalks, which was subsequently withdrawn from consideration.

The Commission of Fine Arts and the Citizens Coinage Advisory Committee reviewed the design candidates. The CFA favored a design featuring an American flag with 34 stars, and the CCAC favored a design featuring a shield. The final decision is up to the United States Treasury Secretary.

On November 12, 2009 at 12:00 Noon ET, the United States Mint will also offer the 2009 Lincoln Cent Two Roll Set for the Presidency design. Each set will contain one 50-coin roll from the Philadelphia Mint and one 50-coin roll from the Denver Mint. The rolls will be packaged in custom designed paper wrappers which denote the year, mint, and face value of the coins.

The rolls are priced at $8.95 each. There is an ordering limit of five sets per household. The US Mint's product page can be found here.

Previous two roll sets have been popular with collectors. The Birthplace Two Roll Set sold out in two weeks after selling 96,000 units. The Formative Years Two Roll Set sold 300,000 units and remained on sale briefly after the release of the third design. The Professional Life Two Roll Set is still currently available for sale from the US Mint and has sold 245,061 units as of the last weekly reporting period.

Today on Coin Update News:
US Mint Sales Report for 11/8/09

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2009 Lincoln Presidency Cent Launch, Abraham Lincoln Bronze Medal

Some preliminary details for the launch ceremony for the fourth and final 2009 Lincoln Cent design are available via a recent Coin World article.

The ceremony will take place on November 12, 2009 at 10:00 AM ET. It will be held at the Ulysses S. Grant Memorial located at the base of the U.S. Capitol in Washington, D.C. Further details of ceremony events and attendees have not yet been announced.

The fourth 2009 Lincoln Cent reverse design represents Lincoln's Presidency. A half completed view of the U.S. Capitol building is depicted, as designed by Susan Gamble and sculpted by Joseph Menna.

This year's Lincoln Cent launch ceremonies have been popular destinations for collectors and Lincoln enthusiasts. Based on the unofficial estimates from previous coverage, 1,500 people attended the first ceremony in Hodgenville, Kentucky and 3,000 people attended the second and third ceremonies held in Lincoln City, Indiana and Springfield, Illinois.

Previous ceremonies have been followed by coin exchanges where attendees are allowed to exchange currency for rolls of the new coins at face value. At the prior two ceremonies 20,000 rolls were exchanged. A minimum of two rolls and a maximum of six rolls were allowed for each pass at the exchange line. Details of the Washington D.C. coin exchange have not yet been announced.

On November 12, 2009 at 12:00 PM ET, the US Mint will also begin sales of the 2009 Lincoln Cent Two Roll Set for the Presidency design. Each set contains one 50-coin roll of Philadelphia coins and one 50-coin roll of Denver coins in custom US Mint wrappers. The sets are priced at $8.95 with an ordering limit of 5 sets per household.

Abraham Lincoln Bronze Medal

While browsing the Medals section of the US Mint's online catalog, I came across a current product that I thought might be of interest to readers.

The US Mint currently offers an Abraham Lincoln Bronze Medal as part of its Presidential Medals series. For each Presidential term, a medal is created featuring a portrait of the President on the obverse and inaugural dates, terms of office, presidential symbols and seals, or quotes on the reverse. Presidential medals are currently offered for recent Presidents as well as George Washington and Abraham Lincoln.
I am not sure how long the Lincoln Medal has been available, but I think the US Mint is missing an opportunity to highlight the product for Lincoln's bicentennial year. The obverse of the medal features Lincoln's portrait in profile. The reverse was designed by George T. Morgan and features an oak and laurel wreath with a spray of pine and cedar, circled by a serpent with its tail in its mouth. The reverse inscriptions read "Inaugurated President of the United States March 4, 1861. Second Term March 4, 1865. Assassinated April 14, 1865."

The 3 inch version of the medal is priced at $38.00. A smaller 1-1/2 inch version is priced at an affordable $3.50. The next time I place an order, I am planning to add one to my cart. You can find the Lincoln Medals at the bottom of this page.

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Coin News Round up for October 29, 2009

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2009 Formative Years Two Roll Sets Back on Sale

The US Mint has put the Two Roll Set for the second redesigned 2009 Lincoln Cent back on sale. The set had been taken off sale on August 12, 2009 after selling 300,000 units.

This is one of several times this year when the US Mint has taken a product off sale, marked the product page as "Sold Out", moved it to the "No Longer Available" section of their website, and then quietly put the product back on sale. This had occurred with sales of the William Henry Harrison Dollar Rolls and John Tyler Dollar Rolls.

In past similar situations, the re-offering period has only lasted a few days to a week before the products were once again "sold out."

Presumably this situation occurs when the US Mint sells their predetermined inventory of a product, but then order cancellations or invalid credit card information reduces the actual number of sales. The product is then put back on sale until the remaining final inventory is sold.

You can find the 2009 Lincoln Cent Formative Years Two Roll Sets for sale on the US Mint's website here.

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2009 Lincoln Cent Professional Life Two Roll Set Sales

Sales numbers for the opening few days of sales for the latest 2009 Lincoln Cent Two Roll Set featuring the "Professional Life" design came in surprisingly strong at 152,146 sets. Although this is about 25% less than the opening weekend sales recorded for the prior design, many were expecting a much larger decline.

The table below shows the opening weekend sales for each of the three 2009 Lincoln Cent Two Rolls Sets that have been offered so far, as well as the final sales numbers for the first two releases.

2009 Lincoln Cent Two Roll Set Sales

	Opening Weekend Sales	Final Sales
Birthplace LP1	63,772	96,000
Formative Years LP2	200,055	300,000
Professional Life LP3	152,146	?

When the first set featuring the Birthplace design (LP1) was announced, many collectors had been put off by the high premium over face value that the US Mint was charging for the sets. Each set contained only $1.00 face value in coins, but was priced at $8.95 plus shipping and handling. Despite the premiums, 63,772 sets were ordered on the opening weekend, and the set sold out less than two weeks later after 96,000 sets had been sold. After the sold out LP1 set started selling for big premiums on eBay, many re-evaluated the offering and jumped on the series.

When the Formative Years (LP2) set went on sale, the US Mint's website was bogged down with heavy traffic from a rush of orders placed during the first hour of sales. The opening weekend sales were eventually revealed to be more than double the total number of LP1 sets sold. By the time the LP2 set sold out, the total number of sets sold was more than triple the previous release.

Reports from readers indicated that orders for the latest Professional Life (Lp3) design could be could be placed without any delay on the US Mint's website, even in the opening few minutes. This seemed to suggest a significantly slower pace of sales than the prior release. However, this time around collectors may have taken advantage of the US Mint's subscription program for the offering. The urgency to order in the opening minutes was also reduced, since the last set remained available for several months.

How many LP3 sets will the US Mint sell in total? If the product allotment is the same as the prior set, I think the Mint has an outside chance of reaching the 300,000 mark for a second time. However, a more conservative guess of 225,000 - 250,000 sets seems more likely.

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Springfield, Illinois 2009 Lincoln Penny Launch

As I have done in the past, I wanted to provide a recap of the launch ceremony for the latest 2009 Lincoln Cent release. The "Professional Life" design was launched at the Old State Capitol in Springfield, Illinois on Thursday, August 13, 2009.



United States Mint Director Edmund Moy presented the ceremony. He was joined by Springfield Mayor Tim Davlin and United States Senator Dick Durbin. Senator Durbin had played a special role in relation to the third 2009 Lincoln Cent design.

Initially, a design had been chosen which featured Lincoln reading a book at a desk. The architect in charge of the restoration of the Old State Capitol felt that the design carried little meaning and had nothing to do with Illinois. After numerous attempts to work through different channels including the US Mint, the architect contacted Senator Durbin. He went straight to the top by contacting Treasury Secretary Paulson, who had responsibility for the final design decision. Senator Durbin convinced him to select the design with Lincoln standing before the Old State Capitol.

The number of people attending the launch event seemed to be around the same number that had attended the previous ceremony in Indiana, which had been estimated at 3,000. This was a little surprising since the number of attendees had doubled from the first to second ceremonies. Also, Springfield is a major city and the location was more suited to handling a larger crowd.

Once again the coin exchange was a major attraction at the event. People began lining up early in the morning, apparently with some people even lining up the night before. The exchange line was snaked around the Old State Capitol grounds so people waiting could actually view the ceremony. The exchange began at 10:40, following completion of the ceremony.

The limits of minimum of two rolls and maximum of six rolls were in place. Many people were able to go through the exchange line multiple times to obtain more than six rolls. There was a report that police had to intervene to take care of some line cutters. The supplies were exhausted by 12:40, at which point the coin exchange ended.

Other events at the State Capitol following the launch ceremony included a program called "Lincoln in Song" by Chris Vallillo and a presentation by Joel Iskowitz, the "Professional Life" reverse designer.

The Post Office was located about two blocks away and many people went there to have their rolls stamped and canceled. They had a specially prepared black "dedication" cancellation stamp or the regular red daily cancellation stamp.

At 12:00 Noon ET on the same date, the US Mint began selling the 2009 Lincoln Cent Formative Years Two Roll Set. Reports from readers indicate that orders could be placed without delay even during the first few minutes of the offering. This would seem to indicate much lower collector interest than the prior two roll set release. When the Formative Years two roll sets were released, the US Mint's website had slowed to a crawl and orders were difficult to place. Besides lower interest, this could also be the impact of more people pre-ordering their rolls through the US Mint's subscription program, which was instated after the second roll set had already been released.

As expected, there have already been plenty of Professional Life Cents offered for sale on eBay. Some of the earliest rolls stamped and canceled in Springfield sold for $30 each, but prices have since declined to about $15. Various auctions are also selling unmarked rolls, single coins, and even sealed $25 boxes of the new Professional Life Cents. These coins are still driving significant premiums, but the "mania" experienced during the first design seems to have subsided. Here are the current eBay auctions for Professional Life Cents.

Some pictures from the Springfield, Illinois are included below. Once again, thank you to Michael Forader who provide the pictures and some details from the event!

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2009 Lincoln Bicentennial One Cent Proof Set

The US Mint has posted the product page and further information on the separate 2009 Lincoln Cent Proof Set that will be offered on August 26, 2009 at 12:00 Noon ET.

As expected, the set will contain the four different 2009 Proof Lincoln Cents, with designs representing Lincoln's Birthplace, Formative Years, Professional Life, and Presidency. The coins will have the special composition of 95% copper and 5% tin and zinc that has been used for the Lincoln Cents included in the US Mint's 2009 annual sets.

It appears that the lens containing the proof cents will have the same background insert design featuring an American flag. Based on how they have treated other separate denomination proof sets, I would expect that the outer cardboard box will feature a custom design. (The product page currently shows the 2009 Proof Set box for some reason.)

The sets are priced at $7.95 each and carry a surprising ordering limit of 5 sets per household. Even though the sets will go on sale in less than two weeks, they apparently won't begin shipping until late November 2009. Here is the US Mint's product page.

This separate proof set was perhaps brought on by the strong secondary market demand exhibited for separate 2009 Proof Lincoln Cent Sets. Countless 2009 Proof Sets have already been broken up for the purpose of selling the 2009 Lincoln Cent lens separately. On eBay, sales of these separate sets continues to be robust with the sets still selling around the $15 price level.

On a related note, the US Mint has also updated the entry on their product schedule for the 2009 Lincoln Coin and Chronicles Set from "Fall" to "October". This set will contain one 2009 Proof Lincoln Commemorative Silver Dollar and the four 2009 Proof Lincoln Cents with a production limit of 50,000 units.

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2009 Formative Years Two Roll Set Sold Out

The 2009 Lincoln Cent Two Roll Set for the "Formative Years" design has now sold out at the US Mint. The sets first went on sale May 14, 2009, making the total sales period nearly three months.

When the roll sets first went on sale, many were expecting them to sell out within a the first few days. The anticipated quick sell out was based on the expectation that only a limited number of the roll sets would be available. The first Two Roll Set featuring the "Birthplace" design only had 96,000 sets available. After the sell out, prices zoomed higher on the secondary market.

The US Mint ended up offering significantly more of the "Formative Years" two roll sets with the most recent sales figures indicating 297,520 units sold. The roll sets also perhaps experienced a boost after Coin World and other print coin publications reported on Formative Years Double Die varieties which had been found in the US Mint's two roll sets.

Tomorrow the third release for the 2009 Professional Life Cent Two Roll Sets will go on sale at 12:00 Noon ET.

Separately, another US Mint product has sold out. Some time within the past few days, the 2008 First Spouse Bronze Four Medal Set had its product page status changed to "Sold Out." These sets had been offered at $12.95 and contain each First Spouse Bronze Medal issued for 2008.

I have had one of these sets on back order for about three months. My expectations of actually receiving the set are low. The First Spouse Bronze Medal products are becoming somewhat notorious for being constantly back ordered and eventually having these orders canceled after the product sells out.

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US Mint 2009 Lincoln Cent "Professional Life" Two Roll Sets

To round off coverage of the next 2009 Lincoln Cent release, here's a look at the US Mint's offering for the 2009 Lincoln Cent "Professional Life" Two Roll Sets.

The product includes one roll of 50 coins from the Philadelphia Mint and one roll of 50 coins from the Denver Mint that have "never been circulated". The rolls are packaged in custom US Mint wrappers that indicate the design and mint of the coins.

The coins will officially go on sale August 13, 2009 at 12:00 Noon ET. Each roll set is priced at $8.95 and the US Mint has indicated an ordering limit of 5 per household. The product page is already available on the US Mint's website here.

On the release date for the prior two roll set featuring the Formative Years design, the US Mint's website was slowed to a crawl and became inaccessible for many. Collectors were rushing to place orders after the unexpected sell out of the first two roll set. The Birthplace design had sold out in less than two weeks with a sales total of 100,000 units (later adjusted to 96,000). The Birthplace Two Roll Sets quickly began selling for high premiums on the secondary market and still fetch about $100 per set. (current eBay auctions)

This quick sell out for the first Two Roll Set created the assumption that only the same number of sets would be available for the second release. This turned out not to be the case. Well over 100,000 Formative Years sets were sold from the release date through the opening weekend. The sets still remain on sale and have sold 297,520 units and counting.

The US Mint has not confirmed the total quantity that will be available for the Professional Life sets other than indicating that they are available "for a limited time only." Based on their treatment of the prior release and other similar offerings, it seems likely that the Professional Life Sets will remain on sale until the next design is released, making the low run for the first design a one time occurrence.

On a related note, it seems likely that sales of the Formative Years Sets will end on August 13 to coincide with the release of the next design.

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2009 Professsional Life Penny- Coin Exchange in Washington DC

Can't make it to the upcoming 2009 Penny Launch in Springfield, Illinois? Similar to the prior 2009 Lincoln Cent release , there will be coin exchanges available at two US Mint locations in Washington, DC.

The locations for the coin exchange will be the US Mint Sales counters located at Union Station, Washington DC and 801 9th St NW, Washington DC. The coin exchanges will take place on August 13, 2009 from 10:00 AM to 4:00 PM or while supplies last.

Each person will be allowed to exchange currency for rolls of the newly released 2009 "Professional Life" Lincoln Cents, subject to a minimum of two rolls and a maximum of six rolls. The limits remain subject to change and may be adjusted at any time of the day during the exchange.

All coins will be from the Philadelphia Mint and wrapped in bank rolls.

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2009 Professional Life Lincoln Cent Launch in Springfiled, Illinois

The United States Mint has released details for the launch ceremony for the third 2009 Lincoln Cent design. This will be the third of four different reverse designs used during 2009 to represent the stages of Lincoln's life.

The third design design represents Abraham Lincoln's "Professional Life" spent in Illinois from 1830 to 1861. The design depicts a young, professional Lincoln standing in front of the State Capitol building. This reverse was designed by Joel Iskowitz and sculpted by Don Everhart. The obverse of the coin will bear the familiar likeness of Lincoln designed by Victor D. Brenner.

The launch ceremony will be held on Thursday, August 13, 2009 at 10:00 AM CT at the Old State Capitol, 5th & Adams Streets, Springfield, Illinois. Attending the event will be US Mint Director Edmund Moy, Senator Dick Durbin, Illinois state officials, and Mayor Tim Davlin.

The coin exchange, where attendees can exchange bills for rolls of the newly released coins, is indicated to take place after the ceremony. The coin exchange will be subject to a two roll minimum and six roll maximum. These limits are indicated as subject to change. Children under 18 attending the event will receive a new 2009 Lincoln "Professional Life" Cent for free.

On the same date at 12:00 Noon ET, the United States Mint will offer Two Roll Sets of the new 2009 Professional Life Cents. Similar to prior offerings, the sets will include one 50-coin roll of coins from the Philadelphia Mint and one 50-coin roll of coins from the Denver Mint. Each Set will be priced at $8.95. The US Mint has indicated an ordering limit of five sets per household.

The US Mint also indicates that "millions of one-cent coins bearing the Professional Life design will be released into general circulation on August 13."

The slow release of the 2009 Lincoln Cents into circulation has been a source of frustration for some and a profit opportunity for others. When the first design was released on February 12, 2009, the coin exchange at the launch ceremony in Hodgenville, Kentucky turned out to be one of the few sources for the new coins. Attendees were able to sell their rolls on venues such as eBay where prices quickly skyrocketed.

The developing speculative market for 2009 Lincoln Cents contributed to the increased number of people attending the second event in Lincoln City, Indiana to take part in the coin exchange, but also led to some efforts by the US Mint to increase distribution.

One month after the Hodgenville launch ceremony, they had introduced the 2009 Lincoln Cent Two-Roll Set product. Starting with the second design release, these two-roll sets were available for sale at the US Mint starting on the release date for each coin. At the coin release ceremonies, the exchange limit was lowered from ten rolls to six rolls per person, and more rolls were available for exchange.

The first event had been attended by about 1,500 people and 10,000 rolls of new cents were exchanged. The second event had an estimated 3,000 attendees who exchanged 20,000 rolls of cents. How many people will attend the third ceremony and how many rolls will be exchanged?

As with the prior ceremonies, I will have a report following the event, hopefully with some pictures. Anyone attending who would like to contribute can contact me at coins @ live.com.

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Lincoln Cent Proof Set, Lincoln Coin and Chronicles Set

The US Mint made another update to the product schedule yesterday. The update includes release dates for products during the month of September and the appearance of three new products that had not appeared on the previous version of the schedule.

2009 Lincoln Bicentennial One Cent Proof Set

This product was added to the schedule with a release date of August 26, 2009. Presumably, this is a separate proof set containing only the four 2009 Proof Lincoln Cents. These coins would likely have the special composition of 95% copper used on the proof cents already released. I will post confirmed details and pricing once they are available.

The addition of this product seems like poor planning or a decision made after the fact. There were likely many 2009 Proof Sets ordered specifically to obtain the special 2009 Proof Bronze Lincoln Cents. This is supported by the large number of auctions and print advertisements already offering separate 2009 Proof Lincoln Cents Set. In order to offer these sets, full proof sets had to be purchased and broken up.

Typically, when the US Mint offers a component set which will be included in a larger set, it is offered before the larger set.

This also serves to further break down the annual proof set into another separate component. The US Mint already offers a separate Presidential Dollars Proof Set and separate DC & US Territories Proof Set.

Lincoln Coin and Chronicles Set

This produced was added to the schedule with the release date listed as "Fall". Based on details previously released by the Mint, each set will contain the four 2009 Proof Lincoln Cents (95% copper) and the 2009 Proof Lincoln Bicentennial Silver Dollar Commemorative. The set will further include a reproduction of the Gettysburg Address, an image of Lincoln with signature, and certificate of authenticity. The set will have a limit of 50,000 units. See my previous post on the Lincoln Coin and Chronicles Set.

Due to the popularity of the 2009 Lincoln Cents, the higher prices of the Lincoln Silver Dollars on the secondary market, and the low authorized mintage for the set, a quick sell out for this product is expected. Although ordering details have not yet been released, it seems almost certain that the US Mint will have a household ordering limit. In my opinion, they might set this at one per household.

Braille Education Set

This product was added to the schedule with the release date listed as "Fall". Previous press releases from the United States Mint concerning the Louis Braille Bicentennial Silver Dollar coins had mentioned that a special set would be available. One released stated that it would be available "later in the spring."

Based on the product name, the set may provide educational information about the Braille System of writing for the blind and visually impaired and incorporate one or both versions of the commemorative coin. I will post confirmed details and pricing once they are available.

September Product Schedule

In addition to the newly listed products discussed above, release dates for previously listed products were added to the schedule as follows:

9/3/2009	Sarah Polk First Spouse Gold Coins
9/3/2009	Sarah Polk Bronze Medal 1 5/16”
9/8/2009	American Samoa First Day Coin Cover
9/17/2009	Presidential $1 Coin & First Spouse Medal Set - Sarah Polk
9/28/2009	U.S. Virgin Islands Bags and Rolls

The full product schedule can be viewed on the US Mint's website here.

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Subscriptions Added for 2009 Lincoln Cent Roll Sets

Today, the US Mint announced that they will extend their subscription program to include the remaining 2009 Lincoln Cent Two Roll Set offerings. The subscription would cover the two remaining roll sets for the "Professional Life" and "Presidency" designs. It would not cover the first two releases for the "Birthplace" and "Formative Years" designs.

Under the subscription program, customers enroll in the program for a specified number of sets and the US Mint charges the credit card on file and ships the coins when they become available. The US Mint has offered subscriptions for certain annual or recurring products like Proof Sets, Mint Sets, Coin Covers, Presidential Dollar rolls, and the collectible Silver Eagles.

The main benefit of the subscription program is that products are ordered automatically, and you don't have to worry about fighting through potential bottlenecks on the US Mint's website on product release days.

There has always been discussion about whether products ordered under the subscription program ship earlier than orders placed on the first day. This was recently the subject of an experiment conducted by a member of Coin Network. Orders for the 2009 Proof Set were placed via subscription, within the first few minutes of sales, and later in the day. The result of the experiment was that the set ordered through the subscription was shipped and received more or less within the same time frame as orders placed on the first day.

Shipping for the 2009 Proof Sets in general seems to have been handled much more smoothly than prior 2009 products. For other products, I have seen reports of orders placed through subscriptions being shipped weeks after orders placed on the first day. Whether the results of the experiment are the exception or the rule is unknown.

The US Mint's subscriptions page can be found here. The option for 2009 Lincoln Cent Two Roll Sets does not appear yet. The option for the 2009 Lincoln Cent Two Roll Sets now appears in the subscription section.

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