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What're You Paying For Common Buffalo Nickels, IHC, Wheats?

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Shnug's Avatar
United States
68 Posts
 Posted 10/14/2014  08:41 am Show Profile   Bookmark this topic Add Shnug to your friends list Get a Link to this Message Number of Subscribers
Hello, folks!

I've recently acquired a large collection from an older woman, inside which were hundreds of dated (and hundreds more non-dated) Buffalo nickels, dozens of Indian Head cents, and nearly 1,000 wheat-back pennies. I bought them in bulk, paying a bit extra for Buffalo nickels from the teens; no key dates were found. She suspected that her son whom she left the coins with for some 10 years might've picked through them and sold the rarest treasures. Didn't stop me from buying her 1829 Half Dime!

I'd like to get a feel for what most folks are willing to pay for them at their local coin shops, because I've recently begun dealing coins in a partnership with a local comic book and collectibles shop. So far, all's been going well with selling junk silver coins, silver dollars, and the like, but I've got no experience in dealing with these sort of coins with no precious metal content.

From what I see, my local shops charge ~$1ea for Indian Heads, ~50¢ for dated Buffalo nickels, and 5¢ for wheat-backs. Thanks for your perspective!

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Pillar of the Community
United States
937 Posts
 Posted 10/14/2014  12:22 pm  Show Profile   Bookmark this reply Add Tryna to your friends list Get a Link to this Reply
If you can cover your cost of goods and overhead by undercutting the price the LCS charges I would do so. Say four cents each on the wheat cents, .45 on the buffs and .95 on the Inian Heads. Thjis may move them faster and get more repeat customers. Steady paying customers is the whole trick to staying in business.
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Bertensgrad's Avatar
United States
1192 Posts
 Posted 10/14/2014  1:14 pm  Show Profile   Bookmark this reply Add Bertensgrad to your friends list Get a Link to this Reply
I would hop on them for the prices you already have if they would grade out atleast as good. In Indiana, it's $1 for post 1900 IHC. $2 for common dates before 1900. Dated buffaloes in the thirties and partial twenties bufs are .75. One dealer has a junk box of wheats for .07 apiece.

Junk silver seems to move fast anywhere do to the noncollectors who are stackers. I would be prepared to hold on the inventory for longer than you would your junk silver. People will cherrypick the box for dates they need and good values leaving behind the junk. They will be a lot less likely just to hoard the coins no matter the date like silver. I would definitely price it where you pay less if buy more of them. Like 10 for the price of 8 or 9. People love a deal and will likely part with more money that way then they would otherwise.
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