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 Replies: 10 / Views: 1,313 |
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Valued Member
United States
450 Posts |
I have the chance to pick up 720 pounds of mixed cents for around $1200 ,From what I have been told by the seller they have been collected for the last 60 years and sat in glass 5 gallon jugs should I jump on the deal ?
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Moderator
 United States
14463 Posts |
FYI - if its actually 720 pounds, that would mean about $1050 in LWC or $1306 in LSC or some combination. If I was a roll searcher and could tie-up that much money. It might be a reasonable offer. Condition would be a concern, jugs stored in cold/wet basement or in living space/mostly dry? Edited by Fuzzy317
08/17/2011 10:30 pm
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Rest in Peace
United States
3039 Posts |
720 lbs of copper cents is about $1050 face. 750 lbs of zincolns is about $1350 face. Do you know the %age of coppers? Don't forget that coppers right now have about 2.7c worth of copper per coin. If they're all copper you've got about $2700 copper bullion value.
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Pillar of the Community
United States
3402 Posts |
Usually at 4 cents each x 100,000 you'd pay $4,000 for those wheaties. I'd jump and eat my "Wheaties" that morning in order to lift up the jars. Plus you can sell the 5 gallon jugs if they are nice.
KK
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Pillar of the Community
United States
1204 Posts |
I got seek of wheties after 40lbs that I made together from my roll searches ; 720lbs is a lot of coins I cant imagine how did he got so much together ! If you have the money just go for it . 720lbs is very possible to find some goodies specialy if he has so much he probably didnt care about semy key dates what would help you make feel bucks ! Big bags of mixed dates per a reasonable price are not hard to sell so you should try ! Ask him to be honest and tell you the percentage of LWC's if its just around 40% I would not do it because who want LMC's . If his trying to put a lot of LMC's just to make a big volume it ll be like these bags of unsearched coins from ebay where you only find late 40's 50's and corroded junk that the coincounter wont even accept ! Tell him you are interested only on the wheties and see what argument he gonna come up with so you can analize what kind seller he is . We always have a lot of hope with big lots of coins but if goes wrong its a big deception ! Btw one member just had a lot of luck with a giant lot last week ! Edited by Ricardocody
08/18/2011 12:42 am
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Moderator
United States
56855 Posts |
If you can afford it then yes buy them. Winter is coming soon and you can search them when the weather is bad. A 60 year old hoard should have a few nice finds in there,keep us updated on what you find. This would make an interesting project by keep track of everything in the hoard.And don't forget  John1  |
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Pillar of the Community
United States
553 Posts |
Sounds like a decent deal to me. that would take a long time to go through though
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Pillar of the Community
United States
7629 Posts |
I would buy these in a heartbeat at $1500...so if you have any question as to whether it's a good deal - just buy them and I will make sure you make money on it.
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Bedrock of the Community
United States
19935 Posts |
I agree with Chuck, that's a good price assuming they are not all corroded. Can you inspect them in person?
Lincoln Cent Lover!VERDI-CARE™ INVENTOR https://verdi.care/
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Valued Member
United States
257 Posts |
Make sure the 720LBS is minus the glass jugs, not including the glass jugs weight! Those jugs are heavy!
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Bedrock of the Community
United States
20753 Posts |
I suggest you see them first. Might be OK but as already noted if stored in damp places and if dampness got into them, might just be a pile of garbage. Might be a great find and full of great coins but I'm a suspicious person so I'd want to see them first. Quote:
I have the chance to pick up 720 pounds of mixed cents for around $1200 ,From what I have been told by the seller they have been collected for the last 60 years and sat in glass 5 gallon jugs should I jump on the deal ? Stories like this are similar to the UNSEARCHED rolls, jars, cans, boxes, etc. of coins left to someone by their now deceased (Mother, Father, Sister, Aunt, etc.) just cross out those that do not apply. This could be a real, honest pile of coins from the last 60 years or just a pile of coins someone has been searching themselves. If in a glass jar, check out the bottom for what you can see. Things like this do happen. I found a jar full of Cents at a garage sale once that the latest coin was in the 50's and many were Indian Heads. You never know. |
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Replies: 10 / Views: 1,313 |
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Posted 08/17/2011 10:20 pm
