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Located Large Quantity Of Wheat Pennies, Need Advise From You Pro's. (:

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United States
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 Posted 09/22/2020  10:32 pm Show Profile   Bookmark this topic Add jhnby1017 to your friends list Get a Link to this Message Number of Subscribers
I am 74 years old and dug out my old coin collection when I was a teenager. Yeah we road horses to school too. lol

I decided to start collecting again and a friend of mine, yes I do have a friend or two, has a ton of wheat pennies she is starting to let me go through.

I have the new 2021 Red & Blue Books. I want to be fair with her but don't want to overpay for the ones I want to keep or sell for her either.

Dealers here in St. Louis pay 2 cents apiece for bulk amounts of Wheaties. THAT isn't going to happen.

So do I offer her Blue Book depending on grade or how would you handle this dealing with a friend.

I'm new to the Forum and have been hitting up YouTube nightly on error varieties, etc. to boot. So help this ole boy out please. I am looking forward for the various advice. Jhnby1017 here.
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John1's Avatar
United States
56855 Posts
 Posted 09/23/2020  04:54 am  Show Profile   Bookmark this reply Add John1 to your friends list Get a Link to this Reply
to CCf. Take youtube videos with a grain of salt,they are wrong more than they are right. Common wheats are around 2-5 cents each.As to values check ebay sold and http://numismedia.com/fmv/fmv.shtml
Grade is very important so https://www.PCGS.com/photograde
John1
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Petespockets55's Avatar
United States
5770 Posts
 Posted 09/23/2020  06:41 am  Show Profile   Bookmark this reply Add Petespockets55 to your friends list Get a Link to this Reply
She sounds like a really good friend and I agree being fair is important.
Red Book is full retail and the Blue book is what dealers pay, but neither take into account the volativity of the fast pace and changing internet economy. You could try using the "Grey Sheets" which is a weekly or monthly publication of coin pricing that dealers use and even add a percentage over (that you are both comfortable with) for the benefit of being first to search the group. "The Grey sheets" can be purchased as a one time purchase or a weekly/monthly subscription.

Iy you do a search for "Grey Sheets" on on this site (upper left hand corner and scroll down after entering the search criteria) you can find some existing threads that can give you lots of info to help in your aggreement.

Good luck and keep us in the loop for any exciting varieties you find.

Your arrangement is a win win for you both since she doesn't have the knowledge required to tell one whether one is more valuable than another. You are providing that knowledge and benefitting by having first look at her group. You both just need to agree on where your price will fall. ebay is another good source for "Sold" prices and you may be able to come up with a fair percentage over "Blue book"
Words of encouragement are one of the major food groups.
We need to consume them regularly to thrive and grow.
Edited by Petespockets55
09/23/2020 06:42 am
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scopru's Avatar
United States
5029 Posts
 Posted 09/23/2020  06:46 am  Show Profile   Bookmark this reply Add scopru to your friends list Get a Link to this Reply
to CCF

Any assistance you need do not hesitate to post questions.
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SensibleSal66's Avatar
United States
79 Posts
 Posted 09/23/2020  07:47 am  Show Profile   Bookmark this reply Add SensibleSal66 to your friends list Get a Link to this Reply
Good Luck, Have fun. Take your time with each coin. Never clean .
Take Care. Sal
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Chase007's Avatar
United States
7509 Posts
 Posted 09/23/2020  10:08 am  Show Profile   Bookmark this reply Add Chase007 to your friends list Get a Link to this Reply
to Community.

You have some good advises above, I can't top'm off but I will reiterate on the one following.


Quote:
Take youtube videos with a grain of salt,they are wrong more than they are right
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jbuck's Avatar
United States
187914 Posts
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United States
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 Posted 09/26/2020  8:33 pm  Show Profile   Bookmark this reply Add jack jeckel to your friends list Get a Link to this Reply
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Dorado's Avatar
Canada
24885 Posts
 Posted 10/04/2020  6:29 pm  Show Profile   Bookmark this reply Add Dorado to your friends list Get a Link to this Reply
To the Forum.
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