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$100 LWC Face Value Purchase

 
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New Member

United States
22 Posts
 Posted 01/01/2014  11:59 am Show Profile   Bookmark this topic Add spotsychess to your friends list Get a Link to this Message
I am spending the Christmas Holiday's at my Mother-In-Law's home. "Oh what fun"! When my wife an I were talking with her a few nights ago, she asked if I was interested in some old coins she had in the basement. My eyes perked up quickly. It turns out that they were left behind from her 2nd husband. She has just completed divorcing husband number five. That's a different story.

It turns out that she has two penny boxes filled with LWC ranging in dates from 1909 to 1958. Each roll is almost completely filled. Face value is roughly $100. I offered her 4 cents per penny and she accepted. I have not yet inventoried my new stash of penny's. I did see that her x-husband did take time to mark each plastic roll with the year and mint mark.

How did I do? Do you think I over paid?

Brian

Added picture of my new LWC.





Edited by spotsychess
01/01/2014 2:28 pm
Pillar of the Community
United States
2507 Posts
 Posted 01/01/2014  12:05 pm  Show Profile   Check CoinCollector2000's eBay Listings Bookmark this reply Add CoinCollector2000 to your friends list Get a Link to this Reply
I don't think 4c per penny is all that bad. That's my opinion though.
Pillar of the Community
United States
5960 Posts
 Posted 01/01/2014  12:10 pm  Show Profile   Bookmark this reply Add muddler to your friends list Get a Link to this Reply
By your title I thought you got them for face value. In finding them all rolled and date mint assembled I dought you will have anything but a hoard of wheat cents.
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United States
1234 Posts
 Posted 01/01/2014  12:19 pm  Show Profile   Bookmark this reply Add ASLAN TVorlon to your friends list Get a Link to this Reply
Well look at it this way if you have an entire roll of 1909 in MS-40+ then you just robbed your mother-in-law blind, sell them and buy her daughter something nice

4 cents per doesn't seem too overly priced but it all comes down to condition, condition, condition.

My LCS says they sell LWC's to art and jewelry makers in bulk for 2-2.5 cents per, but that is after cherry picking.

I know that paying 1 cent for a wheat is a bit of a thrill for me in CRH but that is just the thrill of the hunt, the actual find is seldom as exciting, but I do envy you the hours/days of searching and scoping ahead of you.
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United States
1234 Posts
 Posted 01/01/2014  12:21 pm  Show Profile   Bookmark this reply Add ASLAN TVorlon to your friends list Get a Link to this Reply
Let us know what you find please
New Member
United States
22 Posts
 Posted 01/01/2014  12:33 pm  Show Profile   Bookmark this reply Add spotsychess to your friends list Get a Link to this Reply
My Mother-in-law divorced him in the 70's/80's. When I looked through the tops of the tubes, it appeared to be more than just a hoard of wheaty's. I am hoping there will be a few gems in it that will make it worth while. I can't wait to get home to start a more thorough look at my purchase. I'm 56 years old and feel like a kid again.

Thanks Santa :)

Brian
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United States
1047 Posts
 Posted 01/01/2014  1:03 pm  Show Profile   Bookmark this reply Add kookoox10 to your friends list Get a Link to this Reply
I think it was a screaming deal (coming from an avid Wheat variety searcher). For that many coins, there's bound to be a great deal of RPMs and maybe a doubled die/OMM or two. People rush to look for the key dates, but fail to look deeper into these varieties.
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United States
23520 Posts
 Posted 01/01/2014  1:41 pm  Show Profile   Bookmark this reply Add SsuperDdave to your friends list Get a Link to this Reply
Yeah, I think "screamin'" is an appropriate word here if you're willing to put forth the research effort.
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United States
7585 Posts
 Posted 01/01/2014  1:48 pm  Show Profile   Check 52Raymo's eBay Listings Bookmark this reply Add 52Raymo to your friends list Get a Link to this Reply
Oh yeah, you gotta look for error/varieties also. We have a great forum here with lots of help from some of the best.
Oregon coin geek.....*** GO BEAVS ! ! ! ***
Bedrock of the Community
Canada
10667 Posts
 Posted 01/01/2014  3:37 pm  Show Profile   Bookmark this reply Add SHAFTA9a to your friends list Get a Link to this Reply
Looks to me like they are mostly 40s/50s, so just common dates.
.04 cents each seems high to me.

But.. who knows.. maybe there is a 1955 DD in there.
True North
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United States
4409 Posts
 Posted 01/01/2014  9:21 pm  Show Profile   Bookmark this reply Add MeadowviewCollector to your friends list Get a Link to this Reply
Congrats on the score of wheat pennies.



-MV
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United States
904 Posts
 Posted 01/01/2014  9:36 pm  Show Profile   Bookmark this reply Add n9jig to your friends list Get a Link to this Reply
I would have bought them for that, even if there are no real gems it will be a lot of fun going through them. She certainly got more than she would have at a coin store so she should be happy too. Enjoy!
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United States
1714 Posts
 Posted 01/01/2014  9:44 pm  Show Profile   Check The_Duke's eBay Listings Check The_Duke's eCrater Listings Bookmark this reply Add The_Duke to your friends list Get a Link to this Reply
I think you did fine. You are bound to find some nice ones. I much rather sort through 200 rolls of wheats rather thank bank rolls.

Have fun.
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United States
843 Posts
 Posted 01/01/2014  9:58 pm  Show Profile   Bookmark this reply Add Jaymon74 to your friends list Get a Link to this Reply
I'm still waiting on a hoard of wheat cents that someone wants to unload. Congrats and have fun!
Pillar of the Community
United States
3382 Posts
 Posted 01/01/2014  10:25 pm  Show Profile   Bookmark this reply Add acloco to your friends list Get a Link to this Reply
You did VERY well!

Just saw a hoard of Wheats sell on an auction site for $750!! The rolls were not full either. NO key dates. NO semi keys either. Just under $75 face value.....so...search, pull, and sell.
Pillar of the Community
United States
1087 Posts
 Posted 01/01/2014  10:34 pm  Show Profile   Bookmark this reply Add stud722 to your friends list Get a Link to this Reply
I don't think that it is that bad of a deal. My LCS sells for 3 cents (roughly because it is by weight) a LWC. I do agree that if they are already in tubes and labeled that the chance of finding something great does go down a bit. Not a too bad though. Enjoy going through and I hope you find a treasure!
264 Countries and Counting!
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