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Safe Price to Buy LWC at?

 
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 Posted 08/08/2018  11:44 pm Show Profile   Bookmark this topic Add CRHer to your friends list Get a Link to this Message
While on vacation I stopped in at a local coin store and the owner was offering 6k LWC for $240 ( 4 cents each). The owner only searches for the 55 DDO and their LWC stock only had pre-1916.

Do you think this would be a safe purchase where it would be hard for me to loose money?

Thanks for any help
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 Posted 08/08/2018  11:54 pm  Show Profile   Bookmark this reply Add Mark1959 to your friends list Get a Link to this Reply
Right - they ONLY search - to me, you are getting what he don't want - 2-3 each
Did you know that dolphins are so smart that within a few days of captivity, they can train people to stand on the very edge of the pool and throw them fish?

Working on a Dansco 8167 Kennedy half album while waiting for the 8166's to become back in stock.
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 Posted 08/09/2018  12:13 am  Show Profile   Bookmark this reply Add Crazyb0 to your friends list Get a Link to this Reply
The owner only searches for...1955DDO, 1909SVDB, 1909S, 1910S, 1911D/S, 1912D/S and on through all the less common bulk coins. They have been searched for all the key/semi-Key dates, the D&S mints of the 10's, 20's and 30's. They have been searched for mint errors like clips and brockages. All he HASN'T searched for is all the other DDO/DDR/RPM's and those silly cracks, cuds and cruds, the less then lotto winning stuff.

4 cents a pop? NO ***&&^%&(% WAY. He bought those at 1.5-2 cents a piece and is making a 100% or more profit. 5000 should go for $180, but they don"t! Put it this way, when YOU go to try and get rid of them, that's how much he'd buy them back for.
Edited by Crazyb0
08/09/2018 12:15 am
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 Posted 08/09/2018  12:20 am  Show Profile   Check Errers and Varietys's eBay Listings Bookmark this reply Add Errers and Varietys to your friends list Get a Link to this Reply
Sounds like a scam to me. He's probably searched all of these LWC's, so you can't get the good stuff.
Errers and Varietys.
More information about Die Deterioration? http://goccf.com/t/317950
Retired U.S. Mint Coin Die Set information. http://goccf.com/t/302961
1988 P LMC RDV-006, 1998 P LMC Wide AM, and 2000 P LMC Wide AM. http://goccf.com/t/327834 http://goccf.com/t/294303 http://goccf.com/t/312900
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 Posted 08/09/2018  01:22 am  Show Profile   Check spruett001's eBay Listings Bookmark this reply Add spruett001 to your friends list Get a Link to this Reply
with Crazyb0. The coins have been searched for far more than what is being stated. The owner is trying to dump the rejects on you. No go!
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 Posted 08/09/2018  03:53 am  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply

Quote:
Put it this way, when YOU go to try and get rid of them, that's how much he'd buy them back for.


Most probably wouldn't even be interested in buying something like that back.


Quote:
Sounds like a scam to me.


More like just overpriced, scam isn't the right word for selling off unwanted coins like that
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 Posted 08/09/2018  04:46 am  Show Profile   Bookmark this reply Add John1 to your friends list Get a Link to this Reply
2 cents each for 1940-1950 is about right. If the ones the dealer is selling are pre 1940 I think 3 cents each is about right, if it is not mostly problem coins.Now these prices are just because they are wheats,any varieties will increase the value.Don't expect to find anything really good either.
John1
( I'm no pro, it's just my humble opinion )
Searched 5+ Million Cents Since 1971
Edited by John1
08/09/2018 04:47 am
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 Posted 08/09/2018  08:26 am  Show Profile   Bookmark this reply Add T-BOP to your friends list Get a Link to this Reply
All you had to do is let him show you a random hand full sample of his 6k Wheaties , then you would have known if it was a good deal or not .
Don't take life too seriously and remember it is just a passing fad ......
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 Posted 08/09/2018  09:20 am  Show Profile   Bookmark this reply Add CelticKnot to your friends list Get a Link to this Reply
Pass.
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 Posted 08/09/2018  09:26 am  Show Profile   Bookmark this reply Add SilverDollar2017 to your friends list Get a Link to this Reply
4 cents a piece? No way. Probably all are searched by the dealer for errors and varieties.
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 Posted 08/09/2018  5:24 pm  Show Profile   Bookmark this reply Add BadThad to your friends list Get a Link to this Reply
4 cents each is cheap, my local dealer charges 5 cents.

Guarantee they have been searched at some point. There are almost no unsearched wheats left in the world. Somebody at some point has looked at those coins.
Lincoln Cent Lover!
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 Posted 08/09/2018  5:25 pm  Show Profile   Bookmark this reply Add jpsned to your friends list Get a Link to this Reply
Believe me, as the others have said, he knows every single coin there. He takes the good ones, you get the offal.
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 Posted 08/09/2018  5:39 pm  Show Profile   Bookmark this reply Add nickelsearcher to your friends list Get a Link to this Reply
Concur with the CCF experts - I find it difficult to believe than any for-profit coin dealer will sell to you an 'unsearched' lot of LWC dated prior to 1916.

Best defense IMHO is to take actions to check it out for yourself ... ask the dealer to put the lot in front of you and you reach in and pull out a sample of the coins.

Go through a few hundred coins noting what your find.

If it's all truly pre-1916 with good condition coins and a sampling of occasional mint marks appearing - then you have a winner at 4 cents per.

Let us know how that works out - I suspect I know the answer in advance.
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 Posted 08/10/2018  07:52 am  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply
Just one of the many fake stories people use.
just carl
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 Posted 08/10/2018  07:55 am  Show Profile   Bookmark this reply Add kylecolb to your friends list Get a Link to this Reply
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 Posted 08/11/2018  09:12 am  Show Profile   Bookmark this reply Add Kurrency Ken to your friends list Get a Link to this Reply
If your not looking for key dates, and say maybe errors,varieties then I'd go for it. Look around and see if you can get wheaties for less than 4 cents retail. I think that's an OK purchase and could be lots of fun searching. Not everything is a profit. if you got them for 3 cents each, a savings of $60, is that really a deal breaker. Make him an offer!! Maybe you go 3 cents for the batch, he goes 3.5 cents, you go 3.25 and it's a deal. Have fun and don't dwell on $60. Ask anyone on CCF to sell you wheaties for 2-3 cents each as has been stated here. Plus you'll have to pay the postage. You'll be waiting a long time for an offer.

KK
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