New Log Cabin Design Lincoln One Cent

The new 2009 pennies still aren’t circulating anywhere, judging by the research I conducted yesterday. I called 21 banks around the country Tuesday afternoon, talking mostly to supervisory tellers and assistant bank managers (whoever handles the currency and coinage inventory), in an effort to discover whether any of them have seen the new Log Cabin pennies yet. None of the banking outlets, (which include a mix of national chains, regional credit unions, and local banks) had received the new pennies yet, as far as they knew.

Most banks are very aware of the situation, with customers asking about the new pennies every day. The banks know they probably won’t be receiving whole 50-roll boxes of the new cents, but will likely get them mixed in with older pennies, either in whole rolls or totally mixed. I asked the banks whether they tended to get the new years’ pennies early in the year every year, but most banks didn’t even know!

The 2009 pennies that have gotten out so far are virtually all from two sources: (a) The Lincoln Cent launch event in Hodgenville, Kentucky, where 80 boxes (4,000 rolls) were distributed, and the Washington, D.C. area, where the U.S. Mint coin depots had some stock on launch day. Paul Hollis, a Louisiana coin dealer, got hold of an undisclosed number of rolls, but these are not for sale; he is giving them away in small numbers as part of his million penny promotion.

Because the number of coins that have reached the public is very small, but the number of people who want them is quite large, a lively business has emerged on eBay. Full rolls of 2009 pennies are currently closing at $20 to $40 each. Single coins (usually sold in 2′s and 3′s) are getting $2.50 to $9.95 each.

Read the rest New Penny Scam #1

Many collectors ask which coin grading service are most reputable, and are confused about which coin grading services are accurate and consistent. This is easy to answer since PCGS, NGC, ICG and ANACS are the most trusted and recognized coin grading companies in the business. They are the most reputable services, and consider so by all the majority of the experts, collectors and dealers. While NTC, PCI, SEGS, and Dominion Grading (formerly PCI), all get some respect, but no matter which coin grading company holder one is looking at, always examine the coin carefully, compare it to other coins of the same grade, and buy the coin for the grade it appears to be, and not for what the holder claims.

Suffice it to say, any coin grading service that’s NOT mentioned on this home page, I do NOT recommend, and neither do the experts. I have several other pages where visitors can see who I don’t recommend. If you would like to check out these other coin grading services then click on the link at the bottom of this text. I have researched over 124 coin grading companies or so-called services, and very few meet the mark. As a matter of fact, most are down right hideous at grading coins, to the point where in most instances, must be purposely unscrupulous undertakings, to say the least.

Don’t ever think, or even believe, that just because a coin is in a thick plastic holder that it’s accurately graded. Furthermore, I don’t care what the seller of these so-called slabs claim, they could promise you the moon, but don’t fall for it. The holder might look professional and have some fancy bar code, stickers or hologram stickers, a decorated label, and is a great deal on a high grade coin, but it’s nothing more a lie and a fraud.

I don’t think the question is “Which grading services are reputable”, but “Which ebay sellers are reputable”, and I say this because any non-greedy, honest and well educated numismatically a sellers is, the less likely they will sell over-graded coins, or coins with problems, touted as a high grade.

 Related Link 124 Third Party Coin Grading Services 

TPGS and Coin Grading Forum

Read entire article