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Market Harmony
1000+ Penny Miser Member
USA
1274 Posts |
 Posted - 02/17/2010 : 16:13:45
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I wasn't sure to post this here or in the market area:
I just spoke with a guy that says he has several mint sewn bags of 1980 pennies. I told him that he could get some kind of premium on them, but I couldn't give him a good figure. So, I need some help...
Please make a legitimate offer on these mint sewn bags. He's not sure how many he has, but his son and he gave me the impression that they stacked quite a few of them. I believe that they are all 1980, but I do not know if they are P's or D's.
The offer may or may not be accepted. He has asked me to see what people would pay for them, but would not commit to a price. He will decide once I can give him more concrete info.
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goto the new and improved realcent: http://realcent.org |
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hobo finds
Penny Hoarding Member
838 Posts |
Posted - 02/17/2010 : 16:38:33
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| How many pennies in a mint sewn bag? |
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wolvesdad
1000+ Penny Miser Member
USA
2164 Posts |
Posted - 02/17/2010 : 16:49:37
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| A good year! My DOB! :) |
"May your percentages ever increase!" |
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daviscfad
1000+ Penny Miser Member
USA
1664 Posts |
Posted - 02/17/2010 : 17:18:29
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| well from a person who has sold mint sewn bags they dont carry as much premium as you would think. I am going to venture to say someone might pay 2.5 cants each or so for them. Hobo finds i think its 50 dollar bags. So he might get 125 for a bag plus shipping or shipping included. But i could be way off on my estimate |
Inquiring minds want to know |
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cesario
Penny Pincher Member
129 Posts |
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fb101
Administrator
USA
2856 Posts |
Posted - 02/19/2010 : 20:06:51
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According to my "Coin Market" Price guide, retail for 1980-Ps in ms-65 is $6.50 and for the Ds is $10.
Suppose 1% of a P bag was ms-65, that's 50 pennies at 6.50 would be $325. The same in a D bag would be $500.
While being able to sell them at $6.50 or $10 is unrealistic, I suppose just 1% at ms65 is unrealistically low.
The bottom line is, the numismatic value seriously outweighs the copper value. |
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FormerHSPrincipal
Penny Sorter Member
USA
37 Posts |
Posted - 02/21/2010 : 08:10:45
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| There are many great ideas as to where to find new and usable treasures. One place that always made me smile while finding riches was at the curbside at our local university at the ends of semester. Seems like lots of students around here were either too busy or too tired to load their property, OR in some cases, simply did not wish mom and or dad to find out some of the articles they had. |
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FormerHSPrincipal
Penny Sorter Member
USA
37 Posts |
Posted - 02/21/2010 : 08:13:43
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| My humble apologies ... This post did not belong here. |
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Market Harmony
1000+ Penny Miser Member
USA
1274 Posts |
Posted - 02/21/2010 : 09:43:01
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I spoke with the gentleman yesterday regarding an offer that was received for these mint sewn bags. His response to the offer was, "that's not even 4% per year interest" I like the way he thinks about this. Basically, he's saying that he could have put that same amount to use in an 4% interest bearing account and received a better payout than what the offer was.
At 4% per year, for 30 years, the value of a $50 mint sewn bag would be $162.17, or about .0325 each |
goto the new and improved realcent: http://realcent.org |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 02/21/2010 : 10:22:42
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Good thing he didn't buy silver at the peak of the market in 1980 then.. he would really be disappointed in the return. Not all speculations or investments turn out the way you might hope.
Guess he should have put that money in an interest bearing account then.
What banks are paying 4% now?  |
If your percentages are low.. just sort more. If your percentages are high.. just sort more.
Now selling Copper pennies. 1.6x plus shipping. Limited amounts available. |
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AgCollector
Penny Collector Member
USA
266 Posts |
Posted - 02/21/2010 : 13:24:06
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quote:
Originally posted by HoardCopperByTheTon
Good thing he didn't buy silver at the peak of the market in 1980 then.. he would really be disappointed in the return. Not all speculations or investments turn out the way you might hope.
Guess he should have put that money in an interest bearing account then.
What banks are paying 4% now?
Was gonna say the same thing- not everything appreciates indefinitely (or reliably). I'd offer $100 per bag (i.e. 2x face) but that's it. |
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mint sewn bags 1980
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