Changing the design of a coin does wonders for reviving people’s interest in it. And so it is with the new reverse design of the Lincoln penny:

Rather than wait for banks to obtain a supply of the first of four commemorative 2009 Lincoln cents, impatient collectors are bidding prices on today’s modest supply to incredible levels.

EBay became the source for numerous 50-piece Brilliant Uncirculated rolls shortly after the Feb. 12 ceremony honoring Lincoln’s 200th birthday and a limited release of the new cents. Prices varied widely from lot to lot, but even buyers at the lower end of the spectrum paid dearly for their coins.

Winning bids for 25 rolls sold on Feb. 16 and 17 ranged from $26.99 to $52.99 per roll. The total realized of $914.21 averages $36.57 per roll.

I’ll wait for local banks to get a supply of the new pennies rather than pay a huge premium for a coin that isn’t even worth the metal used to make it, but I am eager to see it in circulation.

As for the fate of the penny, count me among those who wish the government would take it out of circulation. The penny long ago lost its value as a useful tool of commerce.