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I Got Them, Now What?

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bmanofnbc's Avatar
United States
1424 Posts
 Posted 04/15/2011  10:28 pm Show Profile   Bookmark this topic Add bmanofnbc to your friends list Get a Link to this Message Number of Subscribers
I saw an ad on Craigslist that a guy was selling a sealed $50 bag of OBW rolls of cents that he bought in the late 1970's

I went and met him and paid $95 for the $50 bag and it appears they are all 1979-P rolls but the plastic is faded and hard to see through. The plastic bag is still tied shut with some twine and a metal seal, the red tag says "the State National bank of Connecticut"

I've been looking online but I can't seem to find a price guide that has OBW rolls. I don't know if I should try to sell it as-is or break it open and sell single rolls....what would you do with them and how much are they really worth?

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bmanofnbc's Avatar
United States
1424 Posts
 Posted 04/15/2011  10:35 pm  Show Profile   Bookmark this reply Add bmanofnbc to your friends list Get a Link to this Reply
Pictures:

I-Got-Them,-Now-What?

I-Got-Them,-Now-What?

I-Got-Them,-Now-What?
Valued Member
ayejay1974's Avatar
United States
314 Posts
 Posted 04/15/2011  11:31 pm  Show Profile   Bookmark this reply Add ayejay1974 to your friends list Get a Link to this Reply
3 cents each for the copper content.
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eaglefoot's Avatar
United States
6326 Posts
 Posted 04/15/2011  11:49 pm  Show Profile   Bookmark this reply Add eaglefoot to your friends list Get a Link to this Reply
Other than "copper content" that "copper hoarders" may be interested in, these have ZERO value beyond face value IMO.
There is nothing special about the year......so it would only be a "hope" of some possible high MS grades out of this whole batch that one could hope for.
And the general novice's opinion of which ones make the high grades would mean little to nothing for "re-sale" to somebody. Therefore, one would have to have them "officially graded" by a top grading company (which is NOT cheap OR practical for these, IMO)

Short answer.......... I would have paid only $50.00 for a $50.00 bag of 1979 P Lincoln Cents.....
Copper or not......only worth face value to me.
If they were common date "Wheat Cents"....... THEN I'd pay a small premium of .02 to .03 Cents apiece for them, but certainly not for LMC's.
Edited by eaglefoot
04/15/2011 11:52 pm
Valued Member
warsumm's Avatar
United States
121 Posts
 Posted 04/15/2011  11:53 pm  Show Profile   Bookmark this reply Add warsumm to your friends list Get a Link to this Reply
You basically have $150 or so worth of copper, BUT you would not get that much for it. I would toss the entire bag on ebay and expect to get close to your money back. Or save it to hoard the copper.
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Adam_E's Avatar
United States
4846 Posts
 Posted 04/16/2011  12:07 am  Show Profile   Bookmark this reply Add Adam_E to your friends list Get a Link to this Reply

Quote:
Short answer.......... I would have paid only $50.00 for a $50.00 bag of 1979 P Lincoln Cents.....
Copper or not......only worth face value to me.


what about if it were the same weight of copper but in an ingot?

would you pay $95 for $150 of copper then?

what about silver or gold? if someone wanted to sell you 10 silver dimes, would you only pay face for them?

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United States
810 Posts
 Posted 04/16/2011  12:14 am  Show Profile   Bookmark this reply Add Double Mint to your friends list Get a Link to this Reply
I would say break them open and look through them for errors and die varieties. Then sell the rest as copper weight. Theres no die varieties listed that I know of for 1979 but when have a large quanity like that you might find an unlisted die variety.
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eaglefoot's Avatar
United States
6326 Posts
 Posted 04/16/2011  12:34 am  Show Profile   Bookmark this reply Add eaglefoot to your friends list Get a Link to this Reply
Well, Adam, that's why I mentioned "copper hoarders" in my post, because there certainly IS value there for that. Even though it is still VERY illegal to melt these.

But I was speaking numismatically really. Meaning, I don't collect "copper" or "gold" or "silver"......I collect C.O.I.N.S.
Some "coins" may be gold, silver, or copper.....but I would never buy an "ingot" or "silver bars" or "invest" in precious metals in that way. Many folks "do", and that's VERY okay, but I don't.
I also don't buy a coin or coins, so that I can then turn around and sell it for a profit. I would never have bought it in the first place if I didn't have a passion and a thirsty curiosity for the item or items.
So anyway......I just meant that for "me", where "my" interests lay, they're only worth face value.
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Adam_E's Avatar
United States
4846 Posts
 Posted 04/16/2011  12:42 am  Show Profile   Bookmark this reply Add Adam_E to your friends list Get a Link to this Reply
oops, I jumped to conclusions, I started reading the beginning of your post and then saw your short answer and decided to read that first, after I read it I felt I had to speak, and I never got to finish your post, sorry.
Edited by Adam_E
04/16/2011 12:43 am
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eaglefoot's Avatar
United States
6326 Posts
 Posted 04/16/2011  12:50 am  Show Profile   Bookmark this reply Add eaglefoot to your friends list Get a Link to this Reply
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penny man's Avatar
United States
659 Posts
 Posted 04/16/2011  02:38 am  Show Profile   Bookmark this reply Add penny man to your friends list Get a Link to this Reply
well, I would pull the nicest ones for my roll set.... could I buy a roll?
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bmanofnbc's Avatar
United States
1424 Posts
 Posted 04/16/2011  08:17 am  Show Profile   Bookmark this reply Add bmanofnbc to your friends list Get a Link to this Reply
I know all about the value of copper cents, I have been selling circulated copper cents for 1.3 to 1.5x face value for quite some time.

I do know that people buy and collect OBW rolls of LMCs though, I just can't find the prices listed anywhere.

Pennyman, if I decide to bust the bag open I would be happy to sell you a roll. I'm just not sure if I'm going to do that yet.
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Coinstar's Avatar
United States
1510 Posts
 Posted 04/16/2011  09:26 am  Show Profile   Bookmark this reply Add Coinstar to your friends list Get a Link to this Reply
I gotta agree with Eaglefoot but I'm still trying to figure out the acronym

C.O.I.N.S
hmmmmmmmmm

currency or ignots numismatic sales?
anyone?
Retired USAF 1983-2003
Edited by Coinstar
04/16/2011 09:28 am
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scurry64's Avatar
United States
900 Posts
 Posted 04/16/2011  10:55 am  Show Profile   Bookmark this reply Add scurry64 to your friends list Get a Link to this Reply
Check this link. Allen's sells BU 1979 P rolls for $3.60.
http://www.allensinc.com/coins/us/bu_rolls.htm

I suppose you could sell them on ebay and make your money back.
Valued Member
Chadwick's Avatar
United States
271 Posts
 Posted 04/16/2011  12:53 pm  Show Profile   Bookmark this reply Add Chadwick to your friends list Get a Link to this Reply
I would sell them on the bay for bullion and then take the profits to buy a more shiny bullion.
Bedrock of the Community
United States
20753 Posts
 Posted 04/16/2011  3:49 pm  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply

Quote:
what about if it were the same weight of copper but in an ingot?

would you pay $95 for $150 of copper then?

what about silver or gold? if someone wanted to sell you 10 silver dimes, would you only pay face for them?



What most people fail to realize is when you hear the price of Gold, Silver, Copper or anything is $XXX, most people have no idea where to get that for that. I mean if you had a block of Copper that you thoght by weight was worth $50, just who would you really sell it to for that. Most metal recyclers will give you about 60% to 80% of that $50. Same with Gold, Silver, watches, cars, flashlights.
You can look up the value of almost anything but try to get that price for that item. Dealers usually don't even sell things for the listed prices. Stores too almost always sell for less than the manufacturers list prices.
Say Dimes for an example since you mentioned those. I've seen many Mercury dimes of no numismatic value selling at flea markets for $1 to $3. The same ones or similar at a coin show would sell for $4 to $5 or more. And again at a local coin store for possibly $8+. But then too you may find a coin store where they are asking $2.
So as you mentioned would you pay face for 10 Silver Dimes. Usually not but sure would be nice if I could.
So even for the fun of it, pretend you have a Bar Of Copper at home worth what you think is $50. Then go around and see if you can get $50 for it anywhere.
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