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 Replies: 18 / Views: 2,770 |
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Valued Member
United States
221 Posts |
While on vacation I stopped in at a local coin store and the owner was offering 6k LWC for $240 ( 4 cents each). The owner only searches for the 55 DDO and their LWC stock only had pre-1916. Do you think this would be a safe purchase where it would be hard for me to loose money? Thanks for any help |
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Pillar of the Community
7234 Posts |
Right - they ONLY search - to me, you are getting what he don't want - 2-3¢ each
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Rest in Peace
10197 Posts |
The owner only searches for...1955DDO, 1909SVDB, 1909S, 1910S, 1911D/S, 1912D/S and on through all the less common bulk coins. They have been searched for all the key/semi-Key dates, the D&S mints of the 10's, 20's and 30's. They have been searched for mint errors like clips and brockages. All he HASN'T searched for is all the other DDO / DDR/RPM's and those silly cracks, Cuds and cruds, the less then lotto winning stuff. 4 cents a pop? NO ***&&^%&(% WAY. He bought those at 1.5-2 cents a piece and is making a 100% or more profit. 5000 should go for $180, but they don"t! Put it this way, when YOU go to try and get rid of them, that's how much he'd buy them back for.  Edited by Crazyb0
08/09/2018 12:15 am
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Bedrock of the Community
United States
74060 Posts |
Sounds like a scam to me. He's probably searched all of these LWC's, so you can't get the good stuff. Errers and Varietys.
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Bedrock of the Community
 United States
12477 Posts |
 with Crazyb0. The coins have been searched for far more than what is being stated. The owner is trying to dump the rejects on you. No go! In Memory of Crazyb0 12-26-1951 to 7-27-2020
In Memory of Tootallious 3-31-1964 to 4-15-2020
In Memory of T-BOP 10-12-1949 to 1-19-2024
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Bedrock of the Community
13014 Posts |
Quote:
Put it this way, when YOU go to try and get rid of them, that's how much he'd buy them back for. Most probably wouldn't even be interested in buying something like that back. Quote:
Sounds like a scam to me. More like just overpriced, scam isn't the right word for selling off unwanted coins like that |
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Moderator
 United States
56855 Posts |
2 cents each for 1940-1950 is about right. If the ones the dealer is selling are pre 1940 I think 3 cents each is about right, if it is not mostly problem coins.Now these prices are just because they are wheats,any varieties will increase the value.Don't expect to find anything really good either. John1  Edited by John1
08/09/2018 04:47 am
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Rest in Peace
United States
18456 Posts |
All you had to do is let him show you a random hand full sample of his 6k Wheaties , then you would have known if it was a good deal or not .  |
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Bedrock of the Community
United States
12819 Posts |
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Pillar of the Community
United States
8715 Posts |
4 cents a piece? No way. Probably all are searched by the dealer for errors and varieties.
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Bedrock of the Community
United States
19947 Posts |
4 cents each is cheap, my local dealer charges 5 cents.
Guarantee they have been searched at some point. There are almost no unsearched wheats left in the world. Somebody at some point has looked at those coins.
Lincoln Cent Lover!VERDI-CARE™ INVENTOR https://verdi.care/
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Pillar of the Community
United States
2202 Posts |
Believe me, as the others have said, he knows every single coin there. He takes the good ones, you get the offal.
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Moderator
United States
15417 Posts |
Concur with the CCF experts - I find it difficult to believe than any for-profit coin dealer will sell to you an 'unsearched' lot of LWC dated prior to 1916. Best defense IMHO is to take actions to check it out for yourself ... ask the dealer to put the lot in front of you and you reach in and pull out a sample of the coins. Go through a few hundred coins noting what your find. If it's all truly pre-1916 with good condition coins and a sampling of occasional mint marks appearing - then you have a winner at 4 cents per. Let us know how that works out - I suspect I know the answer in advance. Take a look at my other hobby ... http://www.jk-dk.art |
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Bedrock of the Community
United States
20753 Posts |
Just one of the many fake stories people use.
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Valued Member
United States
438 Posts |
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Pillar of the Community
United States
3402 Posts |
If your not looking for key dates, and say maybe errors,varieties then I'd go for it. Look around and see if you can get wheaties for less than 4 cents retail. I think that's an OK purchase and could be lots of fun searching. Not everything is a profit. if you got them for 3 cents each, a savings of $60, is that really a deal breaker. Make him an offer!! Maybe you go 3 cents for the batch, he goes 3.5 cents, you go 3.25 and it's a deal. Have fun and don't dwell on $60. Ask anyone on CCF to sell you wheaties for 2-3 cents each as has been stated here. Plus you'll have to pay the postage. You'll be waiting a long time for an offer.
KK
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Replies: 18 / Views: 2,770 |
Posted 08/09/2018 12:13 am
