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Looking To Buy Some Wheat Pennies.. How Much Should I Pay?

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mattph275's Avatar
United States
12 Posts
 Posted 01/06/2014  10:52 pm Show Profile   Bookmark this topic Add mattph275 to your friends list Get a Link to this Message Number of Subscribers
This is the listing on craigslist:

http://miami.craigslist.org/mdc/clt...1678274.html

He seems like a reputable seller. He's asking $3 per roll which seems like a lot: ($0.06 per coin). Does that seem fair? How much should I buy them for?
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Normic67's Avatar
798 Posts
 Posted 01/06/2014  11:34 pm  Show Profile   Bookmark this reply Add Normic67 to your friends list Get a Link to this Reply
$3 a roll is actually really good, id buy`em. There could be any year or variety in just those rolls.. I hate how they always say there unsearched and then they of coarse are.
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justin3651's Avatar
United States
621 Posts
 Posted 01/06/2014  11:47 pm  Show Profile   Bookmark this reply Add justin3651 to your friends list Get a Link to this Reply
Probably mostly 40's and 50's in there and I would buy them assuming they are all pretty much going to be so. I would haggle with him, 3 or 4 cents sounds about where I'd like to be on them. Sure there could be something great in there but I wouldn't bet on it. if the seller goes for it maybe you could try buying just a part of the lot at first and then see what it looks like and if it turns out to be a good deal buy the rest if not pass on them.
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schris252's Avatar
United States
368 Posts
 Posted 01/07/2014  12:01 am  Show Profile   Bookmark this reply Add schris252 to your friends list Get a Link to this Reply
thats a good deal. I would for sure buy some rolls. of course, as others have said many will be 40s and 50s but still, a pretty good price.
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atticguy's Avatar
United States
1373 Posts
 Posted 01/07/2014  12:27 am  Show Profile   Bookmark this reply Add atticguy to your friends list Get a Link to this Reply
I disagree. $1 per roll is the most I'd pay. He says some things that don't add up, such as he's "sure they are wheat cents because he machine sorted them". Wheat cents and memorial cents are the same in size and weight. There is no way a machine could sort them that way (if some of you out there know better please let me know how that could happen).
I'm pretty sure, as stated by previous posters, that they are all common dates, but if you want to try one roll out as a test, I'd say give it a shot. If by chance there is something of value in the roll you buy, perhaps then I'd buy more of them.
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edweather's Avatar
United States
7375 Posts
 Posted 01/07/2014  12:39 am  Show Profile   Bookmark this reply Add edweather to your friends list Get a Link to this Reply
$3 per roll is too much. Like was said, probably 40s and 50s copper. My local coin shop sells decent bags of 500 wheats for $24.95. Even COINVALT has better wheat deals.
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unholyroller's Avatar
United States
1903 Posts
 Posted 01/07/2014  08:43 am  Show Profile   Bookmark this reply Add unholyroller to your friends list Get a Link to this Reply
Really...people? The language of the add here doesn't add up. Machine sorted? What does machine sorting have anything to do with wheat cents? Sure they are made of copper, and a Ryedale can sort copper vs zinc, but how can the CL poster state that "I know they are wheat cents because I machine sorted them" when a Ryedale doesn't separate wheats from memorials? You must hand pick through the copper cents (in other terms search) to find the wheats. If you add these two statements together from the add...

"I know they are wheat cents because I machine sorted them" and "I personally did not search them" you come up with an impossibility unless the poster is using semantics in that HE/SHE didn't pick the wheats out of the coppers, but the person sitting next to them did. The term "personally" is always to me a sign of technicality and shadyness.
Edited by unholyroller
01/07/2014 08:44 am
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CoinCollector2012's Avatar
United States
8137 Posts
 Posted 01/07/2014  08:47 am  Show Profile   Bookmark this reply Add CoinCollector2012 to your friends list Get a Link to this Reply
I would move on. There is plenty of people on the internet selling Wheats. They are everywhere!
Bedrock of the Community
United States
20753 Posts
 Posted 01/07/2014  09:47 am  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply
More than the so called machine sorting, I like the UNSEARCHED. I suspect that eventually this word will become the most used word in coinage. I too would say forget this one. Probably all SEARCHED and all really poor in grade.
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Merc Man's Avatar
United States
561 Posts
 Posted 01/07/2014  12:10 pm  Show Profile   Bookmark this reply Add Merc Man to your friends list Get a Link to this Reply
I have to agree that I would pass on the opportunity to purchase these. At least at the $3/roll price.
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The Silver Searcher's Avatar
United States
1388 Posts
 Posted 01/07/2014  12:12 pm  Show Profile   Bookmark this reply Add The Silver Searcher to your friends list Get a Link to this Reply
I can get then at my LCS for 3-4 cents a coin. I'd pass on this one.
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52Raymo's Avatar
United States
8515 Posts
 Posted 01/07/2014  12:25 pm  Show Profile   Check 52Raymo's eBay Listings Bookmark this reply Add 52Raymo to your friends list Get a Link to this Reply
Looks like the ad says one dollar a roll.
Oregon coin geek.....*** GO BEAVS ! ! ! ***
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Finn235's Avatar
United States
6130 Posts
 Posted 01/07/2014  12:27 pm  Show Profile   Bookmark this reply Add Finn235 to your friends list Get a Link to this Reply
What are you hoping to get out of this? I'd wager that this collection is at least 90% 1940-1958, with maybe a few lowball 30s and late 10s. Plus, if he really did machine roll these, I'd expect a few stray Memorials in there as well. If that sounds good to you, then I'd say go for it. You could probably also haggle him down to maybe $2 per roll if you were willing to get more at one time--maybe even the whole batch.

That said, you can certainly do much better if you do some digging, and I wouldn't expect to find more than a few coins in the whole batch that are actually worth anything. This guy probably bought them for $1.50 a roll and is trying to turn a quick profit.
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