| Author |
 Replies: 11 / Views: 1,135 |
|
|
Valued Member
United States
236 Posts |
On ebay....I see for sale "Bulk Wheats, Steels & Indian heads". 1. Has anyone bought bulk? 2. Any good coins from bulk purchases? 3. Should I mostly suspect that they've been preselected? Thanks Guys/Girls........ Update: I had posted this back on the 6th.....another question though. What is the best way that some of you have figured out how to get TRUE unsearched, bulk, rolls, etc, wheaties. Trying to find a few loose key dates as well as unsearched varieties, etc. Want to hunt for them though without speculating. Eric Edited by coffeegod
02/27/2008 4:56 pm
|
|
|
|
Valued Member
United States
473 Posts |
1. yes 2. no, mainly just hole fillers or collection starters 3. everycoin picked up in bulk off ebay has been looked through. any key/semi-key/major errors that you may possibly find (don't count on it though) have been planted in hopes of a good feedback being left which will hopefully increase sales for the sealer. Basically, if you're just starting a type or you are missing the majority of them its probably the cheapest and fastest way to fill your books. If you're only missing certain dates probably not your best bet, i.e. don't plan on finding your missing 1955 DDO by this method, though expect to find plenty regular, worthless 1955 --Gary Edited by GFR3
02/06/2008 6:39 pm
|
|
Pillar of the Community
United States
549 Posts |
While I agree that they've all been searched a million times over, even if the seller gives an elaborate story as to how they are "unsearched," I am not as negative on these lots as most hard-core collectors.
I'm still a beginner and I filled in most of my wheat book from these lots. I was able to fill my book primarily with VF or better coins. A few of the tougher dates are only in VG condition.
To be a little more specific, the only wheats I'm missing are:
1909-S
1909-S V.D.B.
1911-S
1912-S
1913-S
1914-D
1914-S
1915-S
1922 PLAIN
1924-D
All of my coins came from bulk lots except for the 10-S (VF), 13-D (VG), 22-D (VF), and 26-S (VF). Those ones came from a sort-of bulk purchase. I knew what I was getting with that purchase and I was able to resell the unwanted coins for more than I paid for the whole thing.
So, in my experience, these lots are great for beginners. Just don't set your expectations too high, because it's unlikely that you'll ever find a key date and any semi-keys you find will probably be in F or worse condition.
Edited by mahgobbi
02/06/2008 7:54 pm
|
|
Member
United States
3242 Posts |
I found a 1924-D & S 2 different roll last year but now I think they load them with some 30s& mostly 40s&50s.
|
|
Pillar of the Community
United States
1934 Posts |
I've had mixed results. In one lot I bought, every coin was surface-damaged by a sorter -- all relief surfaces had the patina scraped off them by the sorter. In another lot of "Wheats and IHCs" every IHC was so corroded they were not even worth the copper they were made of. My guess is you have (at the very best) a one in ten chance of buying a "lot" of Wheaties that havent been picked over and/or worth the trouble of bidding on, receving, sorting, and disposing. So, nine times out of ten I'm going to dissuade you from believing the, "my-daddy-granddaddy-great-granddaddy-my-great-great-granddaddy-aka Adam of Adam and Eve-left-me-this-pile-of-coins-I-dont-have-time-to-go-through-so-I'm-selling-them" hype Jim |
|
Pillar of the Community
United States
914 Posts |
I just bought some wheats from Nelrak from the forums a few days ago. He got them from someone else and never had time to look thru them. There was a 1909 VDB MS-63, a 1909-S P-02, and a 1910 AU-55! Other than that, I've bought a lot from different people on ebay. No rare coins at all, but I was only looking for RPM. |
|
Valued Member
United States
55 Posts |
I bought bulk a few weeks ago. It filled a lot of holes, including 1909 VDB and had loads of steel cents (55 or so). I'm thinking of trying to re-sell what is left over, but not sure what would be the best way to do it. I'm leaning towards 1 pound bags (I've got about 15 pounds of coin left) or would it be best to sell it as one lot?
|
|
Pillar of the Community
United States
7629 Posts |
Any bulk batch of wheats is worth buying - at the right price. If they come at $175 a bag or less, they are basically at wholesale, and with prices moving like they are, you cannot get hurt with a purchase like that.
ALL bulk bags of wheats have been rifled through at some point for key date coins. Remember also that they are keys for a reason -- they are scarce to begin with. Don't expect any, even with material you KNOW has been in storage for 50 years.
The hype is just hype. Completely filter it out and don't believe a bit of it. The stories are not what you should focus on - treat every group the same and focus only on the price.
As for "finds" in bags of wheats - that depends on your level of knowledge in the first place. I ALWAYS find keepers in EVERY bag because I know the doubled dies and repunched mintmarks in the series that are worth looking for and pulling out. 99% of the people selling the coins don't. Enough said.
Finding errors and key date coins are going to be VERY seldom in any group of coins. Finding die varieties that have plenty of value to pay you back for the purchase (if made in modesty) is very common and likely with many of them. The difference between finding good coins and not is to know more about the coins than the seller. That takes time, experience, and a willingness to learn.
You probably will never locate an example of 1955P-1DO-001 this way...but finding 1955P-1DO-002 is very possible, and these can generate an easy $25-$50 income in circulated grades. You just have to do your homework and know what you are looking for.
|
|
New Member
United States
18 Posts |
I bought 3 shotgun rolls of Buffalo nickles on e-bay a few years back. Found a couple nice card fillers and one 37D 3-legged that has been a controversial piece ever since........ I quit buying unsearched bulk lots on the bay but that doesn't mean there isn't something out there. Coppercoins, I like what you said about knowing more about what your getting than the other guy does about what he's selling. That's about the truth of it straight across the board. |
|
Pillar of the Community
United States
7629 Posts |
It works that way with any purchase, no matter what you get. BU memorial rolls...95% of the people who have "searched" these rolls are only looking to pull out coins that will grade MS67 or higher at PCGS. They skip right over all coins that would grade any lower considering them 'junk'. You buy the rolls, and find 15 doubled dies in a roll that sell for $10 each...it happens all the time for the people who are willing to invest the time and energy to LEARN about what they are doing and not focus all their attention on only what's obvious.
|
|
Valued Member
United States
214 Posts |
Chuck I am glad you brought up the point about keys vs variety hunting. Personally, I look for better grades when purchasing unsearched rolls off ebay. I think about 99% of the time all the stories about my grandmas collection, found in a safe kept for 60 years and my husband died and left me these are untruths. But most people either don't care about errors/varieties, don't know about them or don't have time to check for them. They will check them fast for the keys/semi keys. Even these large consingment outfits don't have the resourses or funds to hire people to sort threw 1000s of rolls for errors. I bought 100s of wheat rolls last year and didn't find one key date in them advertised unsearched rolls other then a 24D. One reason is like Chuck said, there aren't that many out there anyway. But I have a box full of minor RPM, nice chuds, die cracks, blanks and other oddities people didn't catch. So for us error/odditiy hunters these unsearched rolls can produce some nice finds. They can offer the occasional key, get some nice grade fillers for your collection and produce some nice errors/oddities. |
|
Pillar of the Community
United States
7629 Posts |
I was actually only speaking for die varieties - doubled dies, repunched mintmarks, and over mintmarks. Generally the die cracks, laminations, and other minor stuff go back in the rolls when I'm looking...but I guess for collectors of such coins, almost any bag of wheats is sure to reap treasure. Most people including myself don't include 'oddities' like die cracks in their searches.
|
| |
Replies: 11 / Views: 1,135 |
|
Posted 02/06/2008 7:53 pm
