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 Replies: 11 / Views: 1,409 |
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Moderator
 United States
23731 Posts |
I've been thinking about spending $299 and buying a bag of 5000 wheaties. Is it worth the money or should I spend it on Morgans?
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Valued Member
United States
290 Posts |
By the lack of specificty in your post, I would venture to guess that it is a purchase of copper vs. silver, and not one quality (wheats of morgans).
If that is the case, I personally prefer silver over copper.
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Pillar of the Community
United States
3294 Posts |
6c each for a bag of wheaties seems a bit higher then avg. If there is a reason for that, such as a higher % of early wheats, then it would be worth it, otherwise, a roll of morgans would be what I go with.
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Moderator
 United States
23731 Posts |
What I'm asking is has there been good finds in these bags, or mostly cents from the 40's and 50's?
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Pillar of the Community
United States
2602 Posts |
Depends on the source. From ebay, mostly will be 40s and 50s, occasional 30s and maybe a couple 10s & 20s, maybe one semi-key if you're lucky. I actually did better buying a bag from my local coin shop- mix was better, plus got more than just 1 semi-key, plus get some AU-BU as well. You also have to keep in mind that the vast majority of all wheats were minted in the 40s and 50s, so every bag will have a high skew of 40s and 50s commons. I've surprisingly found that some of the commons, like 54, 55S and 38/39 D & S are pretty tough, so even those are being taken out be previous searchers. If your goal is to search for varieties, then it will provide countless hours and likely the lot hasn't been searched for that purpose. |
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Pillar of the Community
United States
532 Posts |
Bulk wheat's are probably the worst abused item in the entire hobby. Not all bags are equal. Good old sealed stock from a quality supplier you can trust will not be 299. Figure almost double that number these days. And no one will help you find them either since everyone wants to protect their source.
Best bet is in morgans unless you know someone you can really trust to supply you with a true 5k count bag that has not been gone through already.
Keep in mind coin collecting and searching pennies for errors has been very popular since the 50's. Very few unsearched bags are still intact so they command a premium when located.
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Valued Member
United States
120 Posts |
I just went through a bag of 1000 myself and over 80% were from the 40s and 50s. I was able to find several upgrades and a couple of 30s and 20 I did not have, but that was it. UNless you know the source and that they have not been culled I think I would pass and get the Morgans. The one exception to that is if you have a buyer willing to take them once you have culled them.
PS: I collect the Lincolns and don't collect Morgans for what that is worth.
Hope this helps,
Mike
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Moderator
United States
23731 Posts |
Thanks all for the advise, as I thought it's not a worthwhile investment so I going to spend my money more wisely.
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Pillar of the Community
United States
2661 Posts |
If you do decide to the 5K of wheat's, APMEX has them for $229. |
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Pillar of the Community
United States
2734 Posts |
The best wheat bags are at local dealers, and the worst are on ebay. I'm not the only one on the forum that thinks so. I got two 1922-D's and a 1909 VDB in one bag from a local dealer (this dealer usually puts a few dozen BU 40's/50's Cents in each bag as well). |
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Pillar of the Community
United States
2541 Posts |
Take your money and buy 1 good quality coin. It is less fun upfront, but will you will be more pleased in the long run with it. Otherwise, you will end up with a bunch of worthless wheaties.
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Bedrock of the Community
United States
17884 Posts |
Quote:
What I'm asking is has there been good finds in these bags, or mostly cents from the 40's and 50's? When you consider that over 80% of all the wheat cents made were made in the 40's and 50's and that most of the hoards of wheats were created in the 50's, 60's, and 70's you would have to expect that the average UNSEARCHED bag (unsearched meaning that every Wheat cent encountered was put in with nothing held out) is going to be 80% to 90% from the 40's and 50's. |
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Replies: 11 / Views: 1,409 |
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Posted 08/20/2009 09:04 am
