Getting Wheats On The Cheap!

Most excellent Lonz! Looks great, good luck.

....Less than 2 Cents per. Plus I put in there "up to." for just that reason.

I'm targeting Cash Advance/ Short term loan places, plus the local "We Buy Gold/Silver" shops. Figure people are willing to put a title loan against their car, might have some wheats they don't think are valuable/don't know how to go about selling them. Also, wonder how long the coinstar ones will survive! hehe

Plus I know that this is the time of year that banks get alot of coin in from people to cash in to buy gifts.

I'm going to get this printed up today after I buy another color ink cartridge (first one broke half way through its lifespan) and start papering the town! LOL!

QUICK......Everyone West of the Mississippi call Lonz. Doesn't say how far he will travel!

Nope, just flyers. Don't like the Craigslist site format, so I don't even have an account.

You know, I don't feel quite as good about this than the rest of you.

The flier and campaign is a great idea, but you're actively and knowingly trying to rip people off. The buying rate for wheat cents is NOT less than 2 cents per coin. Cheap coin shops usually will even pay about 3 cents for searched bulk these days. You're only going to catch the attention of two kinds of people. Previous collectors or hoarders who would scoff at your price or likely some elderly individual(s) who are being taken advantage of.

The argument of "if they are happy with it" is a poor one. I have always felt knowledgeable people have an obligation to be fair and to educate less knowledgeable ones, and not to take advantage of.

I do not approve.

No he is not. Do you have any wheat cents (even admittedly searched) you'd like to sell for less than 2 cents per coin. That's less than it's copper content. If so, PM me, feel free to rip yourself off as I'll buy your entire stock and pay for your shipping.

The assertion that this can be written off as "maximizing profit" is absurd. He is not a publicly traded company with a fiduciary duty to do as such.

Knowledge is king, and nobody should abuse it. The coin hobby is not that large and I feel we all should act as ambassadors and in good faith. Would anybody feel different if he were offering to buy silver (which he actually loosely implied) for way less than spot. The sellers would be victims off his knowledge, not beneficiaries.

The flier looks great and the idea is a good one, but I strongly question the ethics behind this. Just offer a reasonable price, even for a few thousand cents, we're not even talking about that much more money. You know you'd have fun searching them and could re-sell for much more, so don't abuse your knowledge.

.... so I guess Coinstar is "OK" .... I mean as long as they "have a fiduciary responsibility" to rip people off... I mean give them 0.93 cents each for their wheat pennies... it's cool. Or the bank... they'll give you a crisp dollar bill for 100 of em.







Or my dealer.... he buys wheats for 3 cents and sells them for 4. ... Wait... he buys the whole bucket for 3 cents each... sorts them into decades and sells the 40's and 50's for 4 cents, the 30's for 6 cents, 20's for 8, and teens for 10 cents.

The way I see it... my target market isn't a coin collector, or a "naive person." My target market are the people that would have cashed in their old change at coinstar, the bank, and even if they were told to go to a dealer to sell their coins 98% would not want the "bother" of going out of their way to make more money.

I go to them, or have them meet me somewhere public so that its convenient for them. The person that said if the customer is happy, all is well is absolutely right. I'm not happy selling my wheat pennies to a dealer who will pay me 3 cents each... so I invested some time and effort to post rolls on ebay to get a better return. Not only have I done that with wheats, but coppers as well. My dealer will give me a penny for those, but ebay will give me 2.5

As for silver. I can search alot of halves and invest my time, go to a bullion company and pay 15% above spot with a minimum purchase or pay $30 shipping, go to my dealer and pay just 10% over spot, or find someone who needs/wants to make money now and is willing to sell to me for 10-15% below spot. I'm still giving them more than the "We buy gold" places would - they only pay 70%

Last time I checked, I'm not mother theresa.... nor am I bernie madoff... just a guy trying to score some cool coins in a creative way, meet some interesting folks, and have fun collecting and selling.

btw... does anyone have a grey sheet from 1998? Wanna make sure I give these marks a real up-to-date price....