| Author |
 Replies: 9 / Views: 1,422 |
|
|
Valued Member
United States
406 Posts |
I decided to go to the coin shop on my lunch break to trade in some wheats, and get another 10lb. bag. The usual selling price is 4 cents a wheat, and buying price is $80 a bag. New pricing sell 3 cents a wheat, buy $100 a bag. I am now bummed and going through my last bag  . It was fun while it lasted, but I won't spend anymore than 80 a bag. Thanks for listening to me rant! BD |
|
|
|
Bedrock of the Community
United States
10982 Posts |
sublime118:Maybe my math is off but those prices don't add up. A 10lb. bag at $80 = 5.5¢/ea. At $100 a 10lb. bag = 6.8¢/ea. That seems high unless they're all pre-1940 or S mint or something. Are your figures correct? I can't see people paying that much for generic bags. Never fear. If you want to find some cheaper bags, Coin World has many ads with lower prices than what you've quoted. Let me know if you want me to post some information.
|
|
Pillar of the Community
United States
869 Posts |
"trade in some wheats"bherring1964 Does Coin World have free shipping on a 10lb bag? That will drive the prices up to what he is already paying at his local shop. Plus he is able to sell them back to them.
|
|
Valued Member
 United States
406 Posts |
I've bought about 9 bags from them. I pull all the pre 39's out and trade in the rest. I marked some common coins with fear that eventually I would buy the back. It never happened. I didn't mind paying 80 a bag, as I did get some quality coins out of them. It was costing me about $30 or so per bag (after the trade in), and that was cool. But now the price is out of my budget. They said they have been selling a lot of them, but I think I am the one that has been buying them. So supply and demand my foot. I'm taking my demand out, and shall start saving for quality coins!
|
|
Pillar of the Community
United States
1984 Posts |
I don't quite understand how it was costing you $30 a bag...does this mean it cost $30 after you subtract the value of the coins you pulled from the bag? Will the new cost to you be more or less than $45 per bag, assuming the quality of the bags remains consistent?
|
|
Valued Member
United States
117 Posts |
I think thats what he means, i'd be curious to see what he actually pulled from the bag to do that
|
|
Valued Member
United States
406 Posts |
Ok let me elaborate a little about this. I originally had 4 bags of wheats. As soon as I figured I could trade these in @ 4 cents a coin I began to trade them in. So I already had a cache built up, and used these to fill in. I got about 1,300 or so cents per bag. I saved everything pre 1939, and all the steel. On average I would have about 1,000 cents to trade back in ($40.00 @ 4 cents a coin). Then I would take some of the cache of commons I had and add those too it and usually got a new bag for $20-$30 depending on how many I traded in. The cost of the bag was originally $80. Per my last visit, they were offering 3 cents a coin, and the bag went up to $100. That was my problem, they cut me both ways. So I shall not buy anymore wheats from them. Thanks for listening and the replies!!
BD
|
|
Pillar of the Community
United States
1984 Posts |
Now it makes sense...so the average value (what you could get for each penny you pulled) would have to be close to $.25 for it to be worth it. That's rather hard to do from a pile of wheat cents. I can see how they've taken the fun out of it for you.
|
|
Valued Member
United States
406 Posts |
now I think its time to move onto dateless buffaloes!!
|
|
Pillar of the Community
United States
1984 Posts |
Better off searching rolls as far as I'm concerned. I know there are some people who love the nic-a-date thing, so I'll refrain from putting out my rant about it.
|
| |
Replies: 9 / Views: 1,422 |
|
Posted 11/26/2008 01:33 am
