Small hoard of 1985 Cents

Small hoard of 1985 Cents

Post by Vecto » Fri, 12 Dec 2003 16:54:20



Twenty years ago it was pretty common for me to buy $20 or more in
pennies every payday, go through them looking for goodies, re-wrap and
spend the rest.  Ok, you've done that before.
Anyway, on one occassion, my bank haul included 28 rolls of
uncirculated 1985-P cents.  I placed them in square coin tubes where
they've remained for the past 18 years.
This evening I spot checked a few of the rolls and they still look
great, except some have what I think are called milk spots ... not
dark and I can't even see them without magnification.
Coin World Trends lists the 1985 at $0.50 in MS63 RB and $5.00 in
MS64 R.
Well, all of them have like new color, even the ones with the milk
spots. Looking at the edge through the coin tubes I can see that none
of the edges are brown, although there is some variation.  I'm not
dumb enough to think that 1,400 of these cents are worth $7,000 ...
I'd be shocked to learn they were worth $700 (50 cents apiece).
What would be a conservative guess without seeing them?  
Please don't tell me $14.00, unless that is true, LOL.  I'm not hoping
to sell them any time soon, just curious.

On a different topic ... when they don't list a price below a certain
grade, what clue do you have?  I know it does not mean face value for
that grade.  For example, 1955 Doubled die in F12 = $450, but below
that no value given.  A 1955 Doubled die in VG8 is worth $0.01?

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Small hoard of 1985 Cents

Post by Reali » Sat, 13 Dec 2003 06:03:29


Quote:

> Twenty years ago it was pretty common for me to buy $20 or more in
> pennies every payday, go through them looking for goodies, re-wrap and
> spend the rest.  Ok, you've done that before.
> Anyway, on one occassion, my bank haul included 28 rolls of
> uncirculated 1985-P cents.  I placed them in square coin tubes where
> they've remained for the past 18 years.
> This evening I spot checked a few of the rolls and they still look
> great, except some have what I think are called milk spots ... not
> dark and I can't even see them without magnification.
> Coin World Trends lists the 1985 at $0.50 in MS63 RB and $5.00 in
> MS64 R.
> Well, all of them have like new color, even the ones with the milk
> spots. Looking at the edge through the coin tubes I can see that none
> of the edges are brown, although there is some variation.  I'm not
> dumb enough to think that 1,400 of these cents are worth $7,000 ...
> I'd be shocked to learn they were worth $700 (50 cents apiece).
> What would be a conservative guess without seeing them?  
> Please don't tell me $14.00, unless that is true, LOL.  I'm not hoping
> to sell them any time soon, just curious.

They list for $2.20 with a + sign, per roll, in the last (8/22/03) bid
sheet that I have.

Personally, I can't imagine anyone paying $5 for a penny as common as
an UNC 1985, but I guess fools and their money are easily parted. :)

Quote:

> On a different topic ... when they don't list a price below a certain
> grade, what clue do you have?  I know it does not mean face value for
> that grade.  For example, 1955 Doubled die in F12 = $450, but below
> that no value given.  A 1955 Doubled die in VG8 is worth $0.01?

The Grey Sheet lists values for 55DDs all the way down to good in the
Monthly Summary sheet (around $350), but I seriously doubt there are
very many of them in existence in that low of a grade.  Rarely have I
seen one as low as fine, and most that I see are between XF40 and
AU58.  They were all dumped immediately into circulation, mostly in
the Boston area and upstate NY, but once the word got out about them,
the vast majority were found in fairly short order.  Just a guess, but
that's probably why they don't list the lower grades.  On the other
hand, UNCs of any kind, and especially in red or RB, are extremely
tough to find and are very expensive as a result.  I recently saw what
I considered to be a reasonably priced NGC 64 RB (about 85-90% red)
for $4100, just to give you an idea of the scarcity versus demand for
55DDs in the UNC red grades.