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 Replies: 28 / Views: 2,784 |
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New Member
United States
29 Posts |
Hey guys, Noob here, with a question. I just inherited over 6000 wheat cents when my father passed away. I really do not want to hang onto them, as I collect silver. I am not looking to sell them here, my question is what could I expect to get for them from a local coin shop? My father got them by coin roll hunting, so they are heavily circulated, most in G4 to VF grade, but there are some much nicer ones. I have sorted them by date and mint and there is a good spread of dates (about 10% in the teens). No key dates, but some semi key. I just don't have the time or patience to look for errors or varieties. Would coin shops buy them? What could I expect to get for them? Would they give a better price if I traded for junk silver? Thanks for taking the time to read and letting me know your thoughts. |
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Bedrock of the Community
United States
17740 Posts |
 To CCF , Nice pile of Wheaties but a coin shop will not go through them either , waste of their time . I'm afraid they will only offer you 2 to 3¢ a piece for them . Might want to put large lots on the bay for 90% junk silver . 
In Memory of Butch L.
and Jim U. rest in peace .
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Pillar of the Community
United States
1726 Posts |
Welcome! I agree 2-3 cents from shops. They become more valuable if you sell them by decade on eBay or Facebook. You could advertised rolls in teens, twenties, etc. Coins in the teens will definitely bring more the 2-3 cent each.
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Pillar of the Community
United States
8901 Posts |
Coin shops in my area are currently buying for two (2) cents each. On ebay one might get seven to nine cents each--check ebay sold/completed sales for bulk wheat cents. Prices will vary some. Is there a decent range of dates and mints, or 98% Philly 40s and 50s? Hopefully there are few horrible culls.
Edited by ijn1944
01/30/2021 11:03 am
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New Member
United States
29 Posts |
Thank you all for the feedback and the warm welcome. I will look into eBay. But really, 2-3 cents apiece doesn't sound too bad to avoid the hassle.
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New Member
United States
29 Posts |
Here is a breakdown of them:
Dates
6% teens
10% twenties
20% thirties
27% forties
37% fifties
Mints
45% Philly
30% Denver
25% San Francisco
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Bedrock of the Community
United States
45702 Posts |
to CCF. Please read the buy/sell/trade rules. John1 
( I'm no pro, it's just my humble opinion )
Searched 6.5 +/- Million Cents Since 1971
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Pillar of the Community
United States
8901 Posts |
That's a pretty decent mix of dates and mints. Many bulk lots are 80++% 40s and 50s, with very few San Francisco mint marks. Hope you don't have too many bent, ultra-corroded, ripped-up coins in the mix.
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New Member
United States
29 Posts |
John1, I have read the buy and sell rules. What are you suggesting? My questions were clearly regarding selling my coins to a local coin shop. Is this how you welcome all new members?
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Pillar of the Community
United States
8894 Posts |
The shop I work at buys at 2c/coin.
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New Member
United States
29 Posts |
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New Member
United States
29 Posts |
GrapeCollects, do you know either at your shop or within the industry, if I were to trade for junk silver or other coins, is it possible to negotiate a higher sell price?
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Pillar of the Community
United States
5235 Posts |
I cant speak for grape but the LCS I shop at will give a better price for a trade but with LWC they only give spot (copper) value. If you put together a folder they give a little more for a completed folder. Good luck! |
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Bedrock of the Community
United States
11564 Posts |
That's a lot of wheaties! The distribution you reported seems about right compared to what I observed when going through a smaller hoard of about 1,000 recently. |
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Pillar of the Community
United States
8894 Posts |
Quote:
GrapeCollects, do you know either at your shop or within the industry, if I were to trade for junk silver or other coins, is it possible to negotiate a higher sell price? Not likely. Bulk LWC are very cumbersome to offload a lot of the time. Finding buyers is difficult and then packing them can be kind of a pain. We sell them by the 5000 and have around 5 bags on hand. We might sell 1 per year on average. As for trade price I can comment though. Currently I believe we're asking 21.5x face on junk silver, but since you'd be trading with wheat cents you would get $1 in face 90% for every $10.75 in face value wheat cents. IE for every 1075 wheat cents you'd get $1 in face 90%.
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Moderator
United States
114684 Posts |
to the Community!
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Replies: 28 / Views: 2,784 |
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Posted 01/30/2021 08:47 am
