Buying Pennies In Bulk Question - Coin Community Forum

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Author	Replies: 8 / Views: 10,260
Gutkowski Valued Member United States 450 Posts	Posted 07/10/2010 10:12 am I have had a ad out on the craiglist for bulk pennies and one person has 94 pounds to sell ,my question is what should I offer for them is $1.60 per pound a good price for mixed years ? Matt- Report this Post to the Staff

Napoleon31ft Pillar of the Community United States 528 Posts	Posted 07/10/2010 10:23 am There are about 145 pennies in one pound. That would put you at about 1.1 cents per wheat. That is very very low. Dealers buy at about 2 cents a piece for commons so maybe offer $3.50 a pound? Report this Post to the Staff
Napoleon31ft Pillar of the Community United States 528 Posts	Posted 07/10/2010 10:23 am OH! I read that wrong. I was thinking wheats. Report this Post to the Staff
StJoeBlues Pillar of the Community United States 573 Posts	Posted 07/10/2010 10:24 am Are they wheaties, memorials, zincs? A combination of them? That makes a big difference. If they are all copper, it's about $136.00 FV ($1.45/lb). All zinc is about $170.00 FV ($1.81/lb). If they are all copper and you're buying them for the bullion, it's about 2:1 right now. 94 lbs of copper Lincolns has a bullion value around $275.00. Report this Post to the Staff
Napoleon31ft Pillar of the Community United States 528 Posts	Posted 07/10/2010 11:41 am I think that either way the copper ones cost more. Report this Post to the Staff
Nicholas Valued Member United States 56 Posts	Posted 07/10/2010 11:49 am Offer $150 and if they balk at it, ask them how much they were hoping to receive. Report this Post to the Staff
lorax Valued Member United States 162 Posts	Posted 07/10/2010 4:45 pm If they are all copper, $150 seems reasonable. Find out if they have been sorted and if so how. Some people hand sort the coppers and may pick out the best coins, people who machine sort often don't look at them again but the machines usually kick out the wheats so you may not get them. Report this Post to the Staff
Nicholas Valued Member United States 56 Posts	Posted 07/10/2010 6:35 pm You should also decide where you'll be getting the pennies. For that many coins it would probably be worth an extra $20 not to have to drive and get them myself. Report this Post to the Staff
Gutkowski Valued Member United States 450 Posts	Posted 07/13/2010 9:29 pm She emailed me and said $150 sounds good so I will pick them up this weekend and she is only about 10 miles from me Report this Post to the Staff
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