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 Replies: 14 / Views: 1,175 |
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Valued Member
United States
406 Posts |
So I've been through about 50 lbs. of wheat cents in the last 2 months. My routine has consisted of buying a 10 pound bag. I first sort by decade, pulling out any BU's, early dates etc. Then I go back in by decade ( Red Book in hand) and I pull anything out that's valued over 50 cents. Those go in the 2X2's in the shoe box. After that I sort all by actual date 1940, 1941 etc. Then I go back in and look for obvious varieties, anything unusual about the coin etc. So I have completed this. My wife says no more bags, I have too many already. I have about 100 rolls of common 40's and 50's. So I email my dealer and he says they are currently paying 4 cents each. The cost of the 10 lb. bag is $80 (roughly 6 cents a coin). So I could trade 40 rolls of the commons for another bag. The only negative I see about this is in the future if I continue I could buy the same coins over again. I do know that no one has bought any of the bags since I started 2 months ago. So my question is, what would you do? Thanks for the feedback!! BD |
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Pillar of the Community
United States
2602 Posts |
Wow, a lot of work. If dealer is buying them at 4 cents apiece, that's a great offer. If you try to dump on ebay, you'll end at 5-6 cents most likely, minus fees, bringing you to at or below 4 cents. Also, if you disclose (which you should) that the lot is 40s and 50s, it might end up going for under 5 cents apiece on ebay. I'd take the fixed price offer- sure thing, whereas ebay prices are never a sure thing, unless you do a fixed price auction format. Also, if the wife says no more bags, I'd respect her wishes and take some of the money and take her out to dinner. |
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Valued Member
 United States
406 Posts |
I have been given permission to trade for a bag. I am thinking I'd rather trade in and try my "luck" rather than having a bunch of commons.
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Pillar of the Community
United States
2373 Posts |
I wouldn't expect that you found too many keys or semi keys. If that premise is true, it doesn't appear lucrative unless you have retrieved items that you can sell to make up the difference between the cost of the pennies themselves and the trade in value of .04. If you found some 32P and 33P they bring a premium for a half roll in good to fine. By the way, you didn't find any uncirculated red or redbrown 41S, 42S, 45S, 47S or 51S did you? That would be one way to make up the delta difference! nlp
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Pillar of the Community
United States
2540 Posts |
Interesting, but he question really is:
What have you found?
Better dates?
Uncs?
That would determine whether or not it is worth continuing.
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Valued Member
United States
406 Posts |
Here's 6 47-s BU I found.   The big hitter I found was a 1913-S in VF. I've used 600+ 2X2's for my 50 cent and over rule. I don't expect to find a 22 plain, or s-vdb or anything like that. It is very entertaining for me, and thats what really matters. Thanks for everyone's input!!  BD |
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Pillar of the Community
United States
588 Posts |
i'd put them in rolls and sell them on ebay some for the fixed price and some as a auction item. Or by Lbs or pounds etc. |
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Pillar of the Community
United States
2373 Posts |
Nice 47's, making me jealous. nlp
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Pillar of the Community
United States
581 Posts |
Based on the original post, I'm not sure what the problem is exactly. Sell them to the dealer for the 0.4 cents/each. Take the money and buy a bag from somewhere else. Or is the dealer's price assuming you will trade for another bag?
Last time I checked, there were about 13,452 different places to buy bags of wheat cents and gosh, most are still unsearched! :)
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Pillar of the Community
United States
2540 Posts |
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Moderator
 United States
56855 Posts |
I say convince your wife to become a coin collector too,she will probably be hooked in no time at all and the both of you can enjoy our fine hobby,problem solved  . John1  |
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Rest in Peace
United States
3730 Posts |
You have a lot of energy to sort that many coins.
I have an estimated 55,000 Lincoln Cents, but I think I'll leave them for my kids to search through them, or dispose of them.
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Valued Member
United States
84 Posts |
I enjoy going through penny rolls. Either CWR or wheats. Does anybody have some info to get wheats other then ebay. I would appreciate some places to get some. I have no idea where to look. Thank You , Ken Edited by ken8400
11/07/2008 12:59 am
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Pillar of the Community
United States
581 Posts |
Concerning where to get wheaties. No magic place. Unsearched, of course, only applies to the seller/dealer - maybe THEY didn't search through it, but someone or many someones have. Count on it.
If I really had to search through rolls/bags of wheaties, I would either go to dealers or go to well-established dealers on the Internet who sell. These guys will salt the mix with some of the rarer coins so you'll be "entertained" and come back. It's kind of like when they give you a "free" coin with your purchase or knock 5-10% off at the cash register when you pay. I'm guessing the "power" wheatie bag sellers on e-bay salt their bags too so that they'll get good feedback and that you'll come back.
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Valued Member
United States
406 Posts |
I agree with the above post 1000 percent
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Replies: 14 / Views: 1,175 |
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Posted 11/04/2008 3:35 pm
