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 Replies: 13 / Views: 1,551 |
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Pillar of the Community
United States
974 Posts |
I've encountered the means to acquire wheat cents in lots of 500 to 1000 coins per bag. There won't be hardly any key dates but the varieties/errors have not been checked from the current owner. He's been buying collections of cent albums for the keys and dumping the rest of the cents into bags from the albums/rolls.  He said this would be much more fun search varieties/errors from these than bank boxes like I have. He estimates he has about 40,000 wheat cents.  Of course this is going to cost more than the face value that I pay searching bank boxes, but he's made me an offer and I want to check and see what Wheat cent buyers are seeing. What's the going rate for VF-ish Wheaties per coin assuming that they are mostly 30s, 40s, and 50s?  |
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Pillar of the Community
United States
549 Posts |
ebay prices for bags of 5,000 would be around $.04 per coin for a mix of 40s and 50s, or about $.05 - $.06 per coin for a mix of '09 through 50s. That would include s/h/i. Smaller lots naturally draw a higher price. Lots of 500 or 1,000 will generally sell for about 50% more per coin, so expect to pay $.07 to $.08 per coin for a lot that size.
Edited by mahgobbi
01/09/2008 10:07 pm
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Pillar of the Community
United States
549 Posts |
Forgot to add...the bag coins you buy on ebay aren't generally all VF condition. Most of the 40s and 50s will be, but as the coins get older, the condition gets worse. |
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Pillar of the Community
United States
1934 Posts |
Nelrak; part of me wants to envy your position if you have someone who's truly only selected out key/semi-key dates and has not looked for any varieties or errors amongst those coins and has kept them in non-deteriorating environments. If that is really the case, I would pay .05/coin. What for all the demand by some for variety and error coins, you could earn your money back with one to eight good finds...and that excludes the most-sought after varieties and errors.
Thing is, after finding these errors/varieties, can we find buyers for them if we're trying to recover the cost of the coins...or, are we going to keep every variety/error for ourselves?
Me, I cant help but keep them....been thinking of changing my coin-line name to Erroriety. I can only imagine what some of the errors and varieties will be worth in 20, 30, 50 years. Most of the errors and varieties I find and keep are listed as worth between four and 75 dollars...but, remember, that's "LISTED," not "SOLD."
Jim
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Pillar of the Community
 United States
5953 Posts |
Last Bulk Lot I bought 10,000 I paid 4.2 cents per coin (Incl Shipping) Knowing they had been searched for keys but also knowing there were lot of higher grade coins from the 40's and 50's
This was a couple of years ago. I pulled just under 5 rolls of BU coins and traded most of the rest. I wish I had looked for varieties now but at the time I was unaware of the value of varieties. So Metalman I hope you checked those wheaties I traded for them star notes and other stuff way back in the forum beginning....
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Valued Member
United States
66 Posts |
some coin shops will give you 3-4 cents per wheat. However like no hope says it might be good to double check some of them. I did the same thing with around 9000 and was amazed at what I had missed. I sold the rest for 4 cents a piece. E bay might be you best bet if you want a little higher.
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Bedrock of the Community
United States
20753 Posts |
At coin shows I go to Wheat Cents sell for about $0.03 each. They usually are sold in little paper bags of 100 and noted that they are searched. These are just Wheat Cents. He is one of a dieing thing called an honest person. My opinion is that about 99.9999999% of all the UNSEARCHED Wheat Cents have been searched many, many times for key dates, RPM's, Double Dies, Blank, Offsets and just about anything at all possible. They are accumulated, searched, resold as UNSEARCHED, searched again, resold and on and on and on. If you just want to have a pile of Wheat Cents offer $0.03 each. If you plan on reselling them, do as everyone else does. After you go through them, resell on ebay as UNSEARCHED. |
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Pillar of the Community
United States
2602 Posts |
Ethically, I would never say something is unsearched if it was searched. I do agree with you that virtually all coin lots have been searched by someone, somewhere. The one rare exception is when a widow (or similar) gets the husband's collection yet knows nothing about coins and sells them. Sometimes in those collections there are some semi-keys and keys, but only sometimes. Be wary of sellers on ebay who use the widow story. There are an awefull lot of widows with coin collections to sell on ebay and I don't believe most of them are true. When in doubt, make the assumption that a collection is searched and bid accordingly. |
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Member
United States
3242 Posts |
1 thing is doing this is 2009 100th AV it happened in 1996 with the Roosevelt dime but the prices didn't jump up so fast then. |
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Pillar of the Community
 United States
974 Posts |
OK this really helps. It looks like he is in line with his pricing at $0.05 per cent. I might get two 1000 count bags and see how they pan out before buying anymore though. UPDATE: Got one 1000 count bag tonight and dumped them into a box. I reached into the box and grabbed about 5 just to see what they were before I had to go to Poker tonight and the dates where 1909 (Fine but bent), 1935, 1940-D, 1951-D, and 1929. So begins the journey:   Edited by Nelrak
01/12/2008 12:06 am
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Pillar of the Community
United States
7123 Posts |
quote:
So Metalman I hope you checked those wheaties I traded for them star notes and other stuff way back in the forum beginning....
Each one under a 16X loupe at least once and many of them more than once. |
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No longer with us
United States
207 Posts |
.04 to .05 cent each for 30s-50s
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Pillar of the Community
United States
549 Posts |
How did the rest of the bag turn out, Nelrak? From the photo you posted, I'd say it was either a really good bag or a really bad one. The coins look a lot more worn than the coins I've been getting in most wheat bags. That either means that you got a much higher than normal percentage of old coins, making it a great bag, or it could mean that you got total crap (typical mix of mostly 40s and 50s, but more than average wear). Which was it?
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Pillar of the Community
United States
974 Posts |
about 350 into it as I went to a wedding on Saturday and had family here all day today 61 have been older than 1940, 16 older than 1930, 8 older than 1920. Filling some holes which is a good thing.
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Replies: 13 / Views: 1,551 |
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Posted 01/09/2008 10:09 pm
