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Wheaties

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jprine's Avatar
United States
1599 Posts
 Posted 07/05/2009  9:00 pm Show Profile   Bookmark this topic Add jprine to your friends list Get a Link to this Message Number of Subscribers
Hope everyone had a great 4th. God bless all those who are serving have served and allowed the rest of us to do what we do freely. I have not been collecting long, but about 15 years ago, for some unknown reason I purchased 5000 wheat pennies. Forgot all about them until recently. My question-should I try to seperate them by year or look for specific coins or what? Not real sure which ones to look for. Any easy way to deal with them?
Thanks
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paul's Avatar
United States
213 Posts
 Posted 07/05/2009  9:12 pm  Show Profile   Bookmark this reply Add paul to your friends list Get a Link to this Reply
I would sort them by year. That would help narrow down the good dates. If you try to go through them all at once, you will go crazy. I have tried going through old coin jars from family members. If you do not have a system, the sheer volume will consume your days and nights until you have examined every coin.
Or, maybe you have better control over this hobby than I.
After you have them by year, find the years that are valuable. Sell those, spend the rest.
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hippieman556's Avatar
United States
64 Posts
 Posted 07/05/2009  9:19 pm  Show Profile   Bookmark this reply Add hippieman556 to your friends list Get a Link to this Reply
i would do it by year
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ratman4762's Avatar
United States
2520 Posts
 Posted 07/05/2009  9:28 pm  Show Profile   Bookmark this reply Add ratman4762 to your friends list Get a Link to this Reply
Don't spend any of them. Alot of them aren't worth much, but everyone is worth more than face value. Even at melt value their worth 1.47 cents each. If you are interested in them, seperate by year and go from there.
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Greckel's Avatar
United States
61 Posts
 Posted 07/05/2009  9:32 pm  Show Profile   Bookmark this reply Add Greckel to your friends list Get a Link to this Reply
You could probably just roll them and sell rolls of $.50 on ebay.
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pyrbob's Avatar
United States
1943 Posts
 Posted 07/05/2009  10:16 pm  Show Profile   Bookmark this reply Add pyrbob to your friends list Get a Link to this Reply
I separate mine into the following groups:
1940-1958 P & D
1940-1955 S
1930-1039 all mints
1920-1929 all mints
1919 and below

This is how most dealers I know will buy them rolled and pay the most for the rolls. Before selling the rolls use a RedBook or some other coin guide to look for better dates and pull these out. If you really feel ambitious look at coppercoins.com for each date you have for die varieties. Most importantly, have fun!
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BadThad's Avatar
United States
19935 Posts
 Posted 07/05/2009  10:56 pm  Show Profile   Bookmark this reply Add BadThad to your friends list Get a Link to this Reply
I first separate by decade, then I break each decade down into year/mint and finally I look them over closely for errors and varieties. Anything I don't want, I roll by decade and resell as such. If I'm feeling lazy, I just take them to my local dealer and he pays me 3 cents each.
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Gothic Florin's Avatar
United States
2541 Posts
 Posted 07/06/2009  5:04 pm  Show Profile   Bookmark this reply Add Gothic Florin to your friends list Get a Link to this Reply
I'm hoarding everything right now, but would probably concentrate on 20s and teens and throw everything else into one pile.
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Gothic Florin's Avatar
United States
2541 Posts
 Posted 07/06/2009  5:04 pm  Show Profile   Bookmark this reply Add Gothic Florin to your friends list Get a Link to this Reply
and send me any 1909 S VDBs!
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Mainecoincoll's Avatar
United States
51 Posts
 Posted 07/06/2009  7:44 pm  Show Profile   Bookmark this reply Add Mainecoincoll to your friends list Get a Link to this Reply
Look for a 1909 VDB S worth some big bucks
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United States
1231 Posts
 Posted 07/06/2009  8:30 pm  Show Profile   Bookmark this reply Add onejinx to your friends list Get a Link to this Reply
I do the same as Thad and seperate by decade first and then break down by year and mint mark. Typically most of the 5,000 wheats will fall into 2 decades the 40's & 50's.
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jprine's Avatar
United States
1599 Posts
 Posted 07/08/2009  10:34 pm  Show Profile   Bookmark this reply Add jprine to your friends list Get a Link to this Reply
I dream of wheaties! I finished sorting the 5000 wheaties by decade. Here is what I got: lots of 40's & 50's, 7 teens, 7 twenties, 23 thirties, 3 nickels (1-39 & 1-40), 10 from Australia (3 silver color) and one from Danmark (Denmark?). Is there any reason to sort by year or mint mark? Or is there any thing in particular I need to look for? Thanks
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copper nickel daddy's Avatar
United States
2224 Posts
 Posted 07/08/2009  11:38 pm  Show Profile   Bookmark this reply Add copper nickel daddy to your friends list Get a Link to this Reply
Only 37 out of 5000 dated before 1940? Can you say "Searched"?
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United States
224 Posts
 Posted 07/09/2009  12:12 am  Show Profile   Bookmark this reply Add huntsman53 to your friends list Get a Link to this Reply
Yeah, the bag was probably searched before the OP purchased it! However, since it was purchased about 15 years ago, it is still possible to find some Doubled Die and RPM Varieties. I say this, because even some of these Varieties have only been discovered within the last 15 years on some older Wheat Cents!

I would search the coins for Doubled Dies, RPM's and any possible overlooked Errors and 2x2 them. I would then replace the Wheat Cents removed or any missing from the bag with average circulated, common Date Wheat Cents, reseal the bag and hold onto it until the prices go through the roof. At that time, I would sell it but would not state that it is unsearched.


Frank

Edited by huntsman53
07/09/2009 11:42 pm
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jprine's Avatar
United States
1599 Posts
 Posted 07/09/2009  7:46 pm  Show Profile   Bookmark this reply Add jprine to your friends list Get a Link to this Reply
I thought the number of teens, twenties was pretty small for that amount of coins. I am still pretty new at this--what does RPM stand for?
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timer's Avatar
United States
129 Posts
 Posted 07/09/2009  9:41 pm  Show Profile   Bookmark this reply Add timer to your friends list Get a Link to this Reply
I am always skepticle when someone sells a bag of 5000 wheat cents claiming they are unsearched ... especially if they know anything about coins. Chances are they have been searched by someone-if not by the dealer or person you bought them from then prehaps by the person they purchased them from etc...I think the best source for truly unsearched wheaties is old tightly wrapped bank rolls. I found ten rolls at a garage sale last year- paid $1.50 each for them after some negotiation, and found a good percentage of teens/twenty's in VG-VF, two 1909 VDB's and a 1914 D in Fine condition.

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