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 Replies: 11 / Views: 1,117 |
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Valued Member
United States
168 Posts |
Yesterday I visited a different branch of the bank I use and asked if they had any half dollars. The friendly teller told me he didn't have any -- but then he volunteered that a customer recently cashed in a large number of rolls that contain uncirculated Lincoln cents. That customer explained that her brother used to melt them before the government made it illegal to melt cents or nickels. The teller showed me several rolls. They appeared to be in original bank wrappers, and were labelled 1978 to 1982. I told him I would purchase the entire lot (116 rolls). I looked on ebay and some sellers describe the wrappers as "shotgun" wrappers. I plan to try to sell these rolls to local coin dealers at a modest profit: e.g., each coin contains ~2.5 cents worth of copper, and they probably have a small amount of additional numismatic value. I can't offer to sell them on this forum -- but I'm interested in getting feedback on what you think is a fair price to obtain for each roll: e.g., perhaps $3.50-$4.00? |
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Pillar of the Community
United States
1143 Posts |
My opinion is it a limited market. While they have a small premium I think you would be hard pressed to find someone paying $4 a roll. I just have not met the guy who buys those. Shipping also kills any premium you could get.
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Bedrock of the Community
United States
94367 Posts |
That last point is especially valid. And running around trying to sell them to a dealer costs time and gas money.
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Bedrock of the Community
 United States
10470 Posts |
Just look at ebay sold items - just checking on the 78's looks like the prices are all over the place, from 5 to 11$ per BU roll |
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Bedrock of the Community
United States
94367 Posts |
Shipping included, I assume? I mean, the cost of shipping a roll of cents today is insane.
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Bedrock of the Community
United States
10470 Posts |
Quote:
Shipping included, I assume? No, shipping is extra - looks like they are charging between 5 and 6 dollars to ship a roll. |
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Pillar of the Community
United States
1143 Posts |
Well you have face value involved so give it a try. It just seems like a lot of work if you are shipping a single roll out including having a mailing envelope.
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Bedrock of the Community
United States
10470 Posts |
When I was selling cent rolls on ebay years ago I would sell 10 at a time then use the USPS small flat rate box for the best shipping price. |
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Pillar of the Community
United States
1227 Posts |
I have seen these types of thinks sell at auctions (in person) although the dates are a little earlier but not much. But they are sold in groups of 50 or more for about 50$ over face value. Then you have to get them there and pay the auctioneer 15%.
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Valued Member
 United States
168 Posts |
I appreciate the feedback I've received. If a local coin dealer won't pay me $1.00 for each of these rolls, I will give a few of them to the grandchildren of my sisters and cash the rest of them at one of my "dump" banks.
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Bedrock of the Community
United States
10982 Posts |
Quote:
I appreciate the feedback I've received. If a local coin dealer won't pay me $1.00 for each of these rolls, I will give a few of them to the grandchildren of my sisters and cash the rest of them at one of my "dump" banks. Sounds like a good plan. |
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Bedrock of the Community
United Kingdom
17878 Posts |
If you know anyone who collects elongated coins, they might pay you over face value for them. Most elongated collectors like using clean copper cents rather than zinc ones, and having a supply they don't need to clean would be a bonus! You could try googling squashed penny websites.
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Replies: 11 / Views: 1,117 |
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Posted 11/23/2024 3:42 pm
