What Dealers Pay?

I've seen transactions go at 2 or 3 cents each for circulated wheats from collections coming into a coin store. Semi-keys would be present and the dealer would gloss over them, just counting them all up and multiplying by 2 or 3. When you think about it, dealer almost has to go half of what they are currently selling for (5 cents), so 2-3 cents seems right anyway.

This is what my coin shop quoted as well the last time I was in to check. They don't bother to look at dates and don't care about condition.

I've had to bit my tongue quite a bit at some local dealers in the past. It's especially hard when someone brings in a ton of Halves and he buys em for 90% of melt for UNC franklins and such

For dealers to offer less than face value is just wrong...If I walked into a coin store and they told me they'd only give me 1/2 a cent per wheatie, I'd just count up all the wheaties I had and spend them at face value in the coin store...and make the dealer count them all up

My local coin shops are offering to buy them for a mere 2 cents each.

Dealers "should" buy some stuff at about 80% of face, when you consider they have to pay someone to count it before they can take it to the bank.

A buck a roll is fair on wheat cents, but again, if you factor in the employee's time, anything less than about ten rolls of commons is a losing proposition. This is the one thing most dealers don't figure on when they buy and sell.

Most dealers I know can't afford to spend the time or pay someone to search bags of Wheaties. Two to Three Cents seems to about what they are selling them for depending on quantity. Most dealers don't even want to mess with them and generally have a few buyers who purchase whatever people bring in. Mike

Like I said I just heard part of the conversation but with some of the crap that comes through the door I could see 1/2 - 1 1/2. For some reason there are a lot of people that think an AG 1957 should be worth millions because it is over 50 years old, now if I was going to resell that same coin I doubt I would get 3 cents for it. I think they know how much people roll hunt and that 40's-50's are all that is going to be brought in and try to discourage some people. The guy they were having the conversation with was a real jerk so maybe they were just saying that to shut him up, I will have to look into it again.