Have you seen the 2009 minted dimes?
Recently, a dealer in Florida went to his friendly neighborhood bank and found nine rolls of 2009 dimes. Now, a roll contains 50 dimes for $5.00 face value.
Knowing the scarcity of 2009 dimes, this gentleman purchased all nine rolls at the bank for $45. Immediately, he sold each roll for $50 – ten times what he paid per roll.
Some dealers sell individual 2009 dimes for $1.75 each – all because of their scarcity.
Why are they scarce?
Per the US Mint’s 2009 Annual Report, “Our circulating coin production was at a 45-year low with fewer cash transactions because of the slow economy and Americans cashing in coins they’d been saving.”
They go on to show that fiscal year 2009 delivered 358 million dimes to the Federal Reserve for circulation. That’s roughly 33% of their 2008 fiscal year delivery of 1,070 million. But, their FY 2007 delivery included 2,247 million dimes making FY 2009’s production roughly 16%.
But, this is not calendar production as their their fiscal year ends on September 30.
What if we look at calendar year production numbers – 2009 versus 2008.
From a numismatic perspective, that’s very interesting.
The total circulating dime production in 2009 was less than 14% of 2008. In addition, it appears the Denver minted coins will be more difficult to find as they minted roughly one third of the 2009 circulating dimes.
Remember, not always, but generally, the law of supply and demand rules. Smaller supply and bigger demand equals higher prices. (Hint: look for 2009 dimes with a “D” mint mark.)
In addition, take a look at another comment by US Mint Director Moy in the annual report, “The Federal Reserve Bank and the United States Mint forecast continued low circulating coin demand for FY 2010.”
Not only will the circulating coins of 2009 be valuable from a collector’s viewpoint, so will the 2010 minted coins.
This would be a great time to generate treasure hunting interest in pocket change again. Some people don’t have a strong collector gene, but most folks become easily intrigued by treasure hunting.
Remember, if you find coin treasures in pocket change, make sure you protect the coins from any further wear. Wrap them in protective surfaces (e.g., handkerchief, tissue, note paper) until you can protect the coins properly.
And, throwing them in your coin jar when you get home is not “protecting them properly.” If you don’t have numismatically approved containers, keep them wrapped in chemical-free cotton or paper.
Enjoy the treasure hunt!