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 Replies: 9 / Views: 1,953 |
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New Member
United States
49 Posts |
There is a guy in my area who is taking offers on a lot 8500 wheat pennies. (He says he knows nothing about them and they are "unsearched" as he inherited them or something) Since this is on craigslist and not on ebay I am inclined to believe that. Anyway, I took a shot and offered $200 seeing as 2-3 cents per penny seems like a fair going rate at the moment. Well the highest offer right not is $400. Would do you guys think about this? Would offering more be a bad decision? Edited by samuldacamul
11/28/2012 1:29 pm
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Pillar of the Community
United States
1211 Posts |
I have sold several large lots of wheaties on CL in the past. I have always been able to get between 3.5 and 4 cents each, which seems to be pretty close to "market price". I do not personally pay more than 3.5 cents each when buying.
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Moderator
 United States
189340 Posts |
Quote:He says he knows nothing about them and they are "unsearched" as he inherited them or something That he actually uses the term "unsearched" has me extra skeptical. I think your $200 offer is fair. I think $400 is too risky. |
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Pillar of the Community
United States
1745 Posts |
$400 would be to high for me. That is 4.7 cents each.
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New Member
 United States
49 Posts |
Thanks for the input. He didn't actually use the term unsearched, although he did say he personally did not look through them because he knows nothing, which means there could be opportunity for some finds, but I think $400 is out of my price range. There are probably some rich old me around here who have the money to burn and will overpay to get what they want.
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Pillar of the Community
United States
1770 Posts |
400 is way too high and you always have to go with the assumption that he searched every single coin
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Moderator
United States
189340 Posts |
Even if he did not search them, there is no guarantee that whoever had them before (" inherited them or something") did not not search them either. It is a gamble. As long as you know that going in. |
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Pillar of the Community
United States
622 Posts |
samuldacamul, I have a suggestion. Ask him if you can have 5 minutes just to skim the coins. If you look for 5 minutes, you should have a good idea of what he has. If this isn't ebay, take advantage of being within driving distance to the seller! OO Edited by Owassokie
11/29/2012 10:18 am
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New Member
United States
49 Posts |
That is a great idea. If he hasn't sold them yet I may ask him. Just for kicks, I'll post the ad to clear confusion. "Great lot of penny's, all inherited form folks... Not sure on rare years or whatever, but there are 8447 here plus a blue book, and some odds and ends. 8500+" |
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Valued Member
494 Posts |
samuldacamul... I would take Owassokie's advice... if you have the means, than offer a little more on the contingency that you need to see how worn they are as well as the years.... 5 minutes should be more than enough to fish through to see what you come up with... a handfull would yield enough coins that if there are alot of early dates to warrant a purchase if you're inclined to bump it up to maybe $425-430. Plus make the point that you're willing to drive to him so he saves his gas money (if he's willing to invite you to his home)
regardless... good luck!
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Replies: 9 / Views: 1,953 |
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Posted 11/28/2012 3:12 pm
