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Bag Of Wheat Cents - Buying And Selling

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Pillar of the Community

United States
846 Posts
 Posted 01/06/2023  4:36 pm Show Profile   Bookmark this topic Add jeffbuckes to your friends list Get a Link to this Message Number of Subscribers
I've been collecting coins for many decades now. Like many of you, I started by pulling wheaties out of my pocket change and never looked back. I often bought bags of wheats at shows and for a long time the rate was 5,000 for $100. Well, now I've reached that certain age where it's time to thin my collection starting with my bags of wheaties.

So, my question: What is the going rate for bulk wheats?

More specifically, what have you paid recently? Or, what did you get when selling recently?

Shipping is so expensive these days I have to wonder how that affects pricing.

Thoughts?
Bedrock of the Community
ijn1944's Avatar
United States
19330 Posts
 Posted 01/06/2023  4:58 pm  Show Profile   Bookmark this reply Add ijn1944 to your friends list Get a Link to this Reply
From my experience, the last 10-12 years have found buyers paying ~$300 for a bag of 5000. Lately, the price is creeping up to $350 or so. Higher in some instances.

Funny, I recently sold around 5000 cull (very, very cull) wheat cents for ~ 6 cents a piece. ebay, while not always fun, can be a place to dump large lots of wheat cents--perhaps in manageable increments of 500-600 per, with buyer paying postage.
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Spence's Avatar
United States
34480 Posts
 Posted 01/06/2023  6:27 pm  Show Profile   Bookmark this reply Add Spence to your friends list Get a Link to this Reply
@jeff, this prior sale of mine here on CCF may be of some interest:

http://goccf.com/t/277464

I think that the link will show for non-mods, but the gist is that I sold 67 rolls of numismatically unsearched wheat cents for $4/roll.


Added:

And here is a link to a current CCF to benchmark your expectations:
http://goccf.com/t/437520
"If you climb a good tree, you get a push."
-----Ghanaian proverb

"The danger we all now face is distinguishing between what is authentic and what is performed."
-----King Adz
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T-BOP's Avatar
United States
18456 Posts
 Posted 01/06/2023  6:44 pm  Show Profile   Bookmark this reply Add T-BOP to your friends list Get a Link to this Reply
One thing for sure is the price of shipping a 5000 coin bag of wheat cents has to be taken into account . Probably need a large flat rate box . approximately $22 .
Pillar of the Community
United States
846 Posts
 Posted 01/06/2023  7:10 pm  Show Profile   Bookmark this reply Add jeffbuckes to your friends list Get a Link to this Reply
@Spence -

Sounds like you sold quite a few by the roll @ $4 per, that's more than I would have thought.

I also see that the great debate of "searched vs unsearched" rages on. That argument is older than me of course.

I can tell everyone upfront that I absolutely searched all my wheaties for key dates (especially 1909-S VDB and 1955 Doubled Dies) but never found anything so amazing.

And I'm not surprised that most rolls skew heavily toward 40s and 50s, just look at the mintage figures!

@T-Bop

You're not wrong about shipping costs. I guess selling by the 1,000 lot makes sense too. That would maybe fit in a small flat-rate box.
Pillar of the Community
United States
846 Posts
 Posted 01/06/2023  7:15 pm  Show Profile   Bookmark this reply Add jeffbuckes to your friends list Get a Link to this Reply
PS: I looked at some ebay ads and looks like a lot of sellers pepper their bags with a 1909 VDB or similar carrot to pump up interest?

That's like sellers of bulk lots of world coins who "guarantee" some silver - so they throw in a couple Mexico un peso coins (at .100 fine!) and call it a day.

Or the shotgun wheat rolls with an IHC tucked on one end?
Valued Member
United States
125 Posts
 Posted 06/15/2023  3:18 pm  Show Profile   Bookmark this reply Add General Sherman to your friends list Get a Link to this Reply
I'm usually able to pick them up for around $150 for a bag of 50. When a dealer has several bags, that's generally what I get them for. Someone post that they're going for 300/350 but I've never seen them for that much but if they were, they'd sit for a very long time.
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