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starwarsgeek171
Penny Hoarding Member
USA
651 Posts |
 Posted - 01/19/2008 : 08:59:52
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The coin shop I frequent is offering three cents per wheat penny regardless of date, mint mark, or even condition (as long as you can tell it's a wheat penny, it's o.k.). Is this a good price, or should I just keep hoarding my wheats seperately?
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Tourney64
1000+ Penny Miser Member
USA
1035 Posts |
Posted - 01/19/2008 : 12:02:35
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| Coppers are 2 cents, regardless if they are wheats. I think the going number on Ebay is 4 cents for wheats. 3 cents and no additional selling effort is not out of line. |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 01/19/2008 : 12:15:26
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| I think that is a fair offer. I would sell at that price if I were selling, but I would also buy at that price if I were buying. |
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Think positive. |
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pencilvanian
1000+ Penny Miser Member
USA
2209 Posts |
Posted - 01/19/2008 : 12:37:07
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I think it also depends on the reason the coin shop is making the offer.
The uneducated will bring in rolls of ganddad's pennies or the loose change great aunt Edna had in her junk drawer and not even think wheat cents are worth more than face value (imagine if there is one 1909 vdb in with the loose wheats brought in.)
I will not and do not fault coin dealers for trying to pull in old coins from the public, but if the public doesn't at least do some investigation into what coins they have and what they are worth (borrow a Red Book from the library or look up prices online), then the public can't blame anyone but themselves if someone else makes the profit. We don't go back to the banks and hand over 1¢ for each copper cent we find, now do we?
The educated and investigative profit,
the uneducated or uninterested don't. |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 01/19/2008 : 12:43:36
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Right, search your bag first. I can't believe it when I read on ebay people selling lots of such coins for sale that state that they are "unsearched". Sure. |
Realcent.forumco.com disclosure. Please read.
All posts either by the members, moderators, and the administration of http://realcent.forumco.com are for your edification and amusement only. It is not the intent of realcent.forumco.com or its host to provide investment, medical, matrimonial, legal, security or tax advice and nothing posted here should be considered to be so. All rights reserved.
Think positive. |
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fiatboy
Administrator
912 Posts |
 Posted - 01/19/2008 : 18:02:41
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| Three cents a wheat is a good price---about on par with true market value. |
"Bart, it's not about how many stocks you have, it's about how much copper wire you can get out of the building." --- Homer Simpson |
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Three Cent Wheats?
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