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 Replies: 16 / Views: 3,909 |
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Valued Member
United States
130 Posts |
A coin store in town has a bulk bag of 5,000 all S wheat Pennie's. Anyone have any experience searching these bags? He is asking $300. Is it worth it?
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Pillar of the Community
United States
2869 Posts |
I might be tempted by a item like that but is probably searched over and over again.
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Rest in Peace
United States
18456 Posts |
 , probably only from the 40's and 50's . See if he'll let you pull out a handful from the bag just to get an idea if there are any earlier dates . If so , it might be worth it .  |
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Bedrock of the Community
United States
94367 Posts |
Unless you'r4e an avid variety collector, I'd pass on something like this.  to the CCF! |
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Pillar of the Community
United States
4691 Posts |
Random Wheaties are worth around 3-4 cents each regardless of mint. If they have been segregated by mint, they obviously have been searched. You decide.
Edited by jimbucks
10/29/2021 7:34 pm
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Moderator
 United States
56855 Posts |
. 2 1/2¢ each 3¢ tops. Most likely searched,but who knows how well it was searched? John1  |
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Rest in Peace
United States
18456 Posts |
Quote:
2 1/2¢ each 3¢ tops John , what if I only wanted to buy one Wheat cent at 2 1/2¢ how the heck am I supposed to pay for it ? Do I cut one penny in half or use one of my 1832 Half Cents . ?  |
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Bedrock of the Community
United States
19112 Posts |
Well, I have a different opinion.
I purchased 10 bags of bulk wheat cents (5,000 coins each) from a local coin shop over a period of three years--not all at one time. About half the bags were five cents per piece, the others were six. While I didn't find any '14 Ds or '09 Ss, I did pick up some decent items--a few '09 VDBs, several teen and '20s S mints, five or six each '26 Ss and '22s, a few dozen DDOs and DDRs, a fair number of nice lamination peels, lots of strong die chips, some pre-cuds, several cracked skulls and other clear examples of die cracks. Many, many cool woodys too. And a number of clipped planchets (with Blakesley effect). While the overall mix was heavy with 40s and 50s, I did find more teens, 20s, and 30s than I expected. Of course, condition varied from pretty darn poor to a few dozen low MS (mid to late '50S). I'd say the average grade was in the G to VG range. Maybe 3-4% total were clearly culls, so be prepared for that. In all, I managed to get a decent head start in filling pedestrian-grade Danscos. Most of all, it was fun.
Of course, your experience may differ from mine. I'd suggest picking up a bag, perhaps negotiate a better price. Then, judge if it was worth it or not. Don't discount the fun factor.
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Bedrock of the Community
United States
10635 Posts |
As already pointed out, if they are all S cents, they have been searched, keep that in mind. As also pointed out, wholesale rates for Wheaties are in general about 3 cents each. So if you paid as much as 5 cents each, that 5,000 bag would cost about $250, which in my opinion would be as high as I'd go. It could be fun if you're a variety collector (which takes careful examination), but if you're just filling an album, then no. Chances are you are not going to find anything rare, remember, they have been searched already.  to the CCF!  |
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Pillar of the Community
United States
713 Posts |
I'd say, go for it. As long as you can afford it without having to skimp on necessities.
I've had a few bags of 'book two' wheats and found many varieties -- DDs and RPMs.
I bought a bag of memorials one time and found a couple of 68D DDRs in MS condition.
As was said prior, don't expect to find anything terribly rare/valuable but, you should find a number of keepers.
It can be a lot of fun, beats a brick of shield cents.
Edited by CentSation
10/30/2021 04:16 am
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Moderator
United States
56855 Posts |
How about this; you buy the bag at 5¢ per coin. You look through the bag and keep a few that you like. You go back to the same coin shop to sell the rejected ones,and he offers you 2¢ or 2 1/2¢ or 3¢ per coin to buy them from you. Just keep that in mind.Have fun,enjoy. John1 |
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Bedrock of the Community
United States
19930 Posts |
Quote:
How about this; you buy the bag at 5¢ per coin. You look through the bag and keep a few that you like. You go back to the same coin shop to sell the rejected ones,and he offers you 2¢ or 2 1/2¢ or 3¢ per coin to buy them from you. Exactly! I did this a lot with my LCS and found lots of good coins. I call it a "searching tax". |
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Moderator
United States
187580 Posts |
to the Community! |
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Pillar of the Community
United States
1173 Posts |
to the Community. Lots of good information here. |
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Pillar of the Community
United States
2280 Posts |
I would pass on it You realize when you know how to think, it empowers you far beyond those who know only what to think.
-Neil deGrasse Tyson
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Bedrock of the Community
United States
10635 Posts |
Quote:
How about this; you buy the bag at 5¢ per coin. You look through the bag and keep a few that you like. You go back to the same coin shop to sell the rejected ones,and he offers you 2¢ or 2 1/2¢ or 3¢ per coin to buy them from you. Just keep that in mind.Have fun,enjoy I like this idea. Just be sure your LCS is willing to buy them back, and for a set price. Um. I'd then wonder if/how many times what you are buying has been searched before? It reminds me of what Groucho Marx once said, "I don't want to belong to any club that would accept me as one of it's members." |
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Replies: 16 / Views: 3,909 |
Posted 10/29/2021 7:10 pm
