| Author |
 Replies: 26 / Views: 4,220 |
|
Pillar of the Community
United States
1374 Posts |
I have an opportunity to buy some wheats from an old man who says he has been throwing them in a jar for years. His second son went through the coins and rolled them by date and kept all pre-1940 cents. I don't know this person personally. I told him that I was looking for varieties and he doesn't seem to have a clue what they are.
There are 92 rolls... all I can find are BU roll prices. I'm really not sure how to value these circulated rolls. Here is the kicker. I can tell that they must have rolled these out of a huge mixed pile by the distribution of the rolls. See it?
Year Mint Rolls Year Mint Rolls
1940 p 2 49 d 2
41 p 3 50 d 3
42 d 1 50 s 1
42 p 2 51 1
44 d 2 51 d 6
44 p 6 52 d 5
45 d 2 52 s 1
45 p 6 53 d 5
46 1 54 d 1
46 d 2 54 p 1
46 p 3 55 d 7
47 d 1 56 d 9
48 d 2 56 p 1
48 p 1 57 d 8
58 d 7
|
|
|
|
Pillar of the Community
United States
4897 Posts |
Use copper spot prices. No more than 120 dollars for the lot.
|
|
Pillar of the Community
United States
1231 Posts |
92 rolls x $0.50 = $46 x 3 cents each = $138 give or take
|
|
Pillar of the Community
United States
958 Posts |
those are common date wheats , worth about 2-4 cents each in circulated condition,
Or in otherwards 2 to $3 a roll depending on who is buying.
I just eyeballed it to 80 or so rolls,
$ 40 face.... a decent price might be $ 80-$100
I personally would not buy them , All the dates above can be found roll searching at 1 cent each.
Edited by coppertop5150
02/02/2011 8:41 pm
|
|
Pillar of the Community
United States
2049 Posts |
In my area, dealers buy them for 2-3 cents each and sell them for 4.5 to 5 cents each for common circulated wheats. Hope that helps.
|
|
Pillar of the Community
United States
6326 Posts |
Well, IMO, these are worth roughly .02 to .03 Cents apiece.
They are "common date" Wheats, and assuming there are no errors or varieties or semi-keys that the son missed, (or that I did in your list), that's the offer I'd make.
Translation - : $1.00 a roll
(or maybe offer $100.00 for all 92 rolls)
That would sweeten the pot a bit, and it's only a few bucks difference.
The rising price value of Copper alone, may actually warrant that to be jacked up anyway.
|
|
Pillar of the Community
United States
4897 Posts |
30 lbs x 4.50 x .95 equals 128.5
|
|
Pillar of the Community
 United States
1374 Posts |
Okay, thanks a ton for the answers. I figured spot price was about right. Wouldn't it be worth it to snag them and check for varieties?
|
|
Pillar of the Community
Canada
838 Posts |
Quote:
All the dates above can be found roll searching at 1 cent each.
True, but I think he's looking for varieties, such as RPMs, S-mintmarks, etc. It's not easy finding some of those roll searching. |
|
Pillar of the Community
United States
4897 Posts |
I have to agree with eaglefoot. I've found that many from roll search over the last year...all for .1 each...plus lots that are older.
|
|
Pillar of the Community
United States
1374 Posts |
I work seasonally for the Forest Service and will be in the field until October. Needless to say, I need someone else to find the wheats for me so I can check for varieties in the little time I have to myself. And I would rather search copper, I don't like looking at the new pennies.
Would I be better off trying to find unsearched copper BU rolls of LMCs?
Or, is the best way to search by looking through circulating rolls?
**Edit: will be in the field UNTIL october
Edited by Drsandman2
02/02/2011 8:53 pm
|
|
Pillar of the Community
United States
6326 Posts |
Good Lord !! .......  I thought I was the first poster ! ..... I ended up being the 5th poster by the time I finished replying ! ....  |
|
Pillar of the Community
United States
958 Posts |
Some big money coins are the LMC look at all the various doubleddies , WAM's 93 98 99 00,close 92, 88-89 reverse, doubled die ears,68-s 69-s dd'd very valued coins,72 dd's coins.the list goes on. More variations exist on searching reg ol bank roll cents 59-09 LMC then just buying those few 40-58 wheat cents in those rolls. But there are the 55 dd and 44 s/d variations plus RPM that could be in those rolls. Id rather just search 4 bank boxes for 100$ aget back all my money then pay above face for those comon date wheats but thats just my opinion. And if your sorting copper, well copper is copper reguardless if its a wheat of a 59-82 LMCEdited by coppertop5150
02/02/2011 9:03 pm
|
|
Pillar of the Community
United States
1374 Posts |
In theory, if I bought the wheats at spot then I can turn around and sell for same. But you have a valid point about the more recent cents. And I suppose the chances that someone has already louped the wheats is much higher than a bank roll.
Any tips on snagging nice rolls? I assume like 90% of the money transport market is owned by 3 companies, like the rest of the world. So I suppose it wouldn't matter where you grabbed the rolls?
Also, do you guys grab a box, break all the rolls and sort by date, then search? Or just search one by one as they come out of the roll?
|
|
Valued Member
United States
75 Posts |
I search one by one so that it doesn't take as long as sorting them all out then searching them one by one. might as well look at every one of them while looking at dates anyway IMO.
|
|
Pillar of the Community
United States
4897 Posts |
The only years I sort are the 1972 (too many varieties need extended look) and 70s because I struggle with the small date othwewise I chek them one by one
|
| |
Replies: 26 / Views: 4,220 |
Posted 02/02/2011 8:32 pm
