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13 Posts |
 Posted - 08/24/2006 : 12:43:26
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What do you all think about wheat pennies, purchased at say 4 to 5 cents each? No sorting, easily identified, and maybe numismatic in a small way.
Seems like trading a couple extra fake cents for a real one is worth considering. Would take the fun out of sorting, though 
I suspect I'll hear, "Why buy wheat cents for extra $, when you can buy the cupronickel US Jefferson nickel at face value?". Good point. I'm thinking about diversity, low cost (we're still talking just pennies, after all) and that the wheats are just plain neat coins.
What do you think?
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The revolution will not be televised...
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Ardent Listener
Administrator
USA
4841 Posts |
 Posted - 08/24/2006 : 13:22:50
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I thought about the same recently so that makes it a crazy idea. I decided that I would not want to pay four or more cents for a little more than two cents of copper. Yes, there is numismatic value to the Wheat cents. I recently read that an average 1909 cent (non VBD) is worth about a buck. Newer dates would be worth much less I'm sure. I would consider buying them at 3 cents each but not at 5 cents.
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If you can conceive it and believe it, you can achieve it. -Napoleon Hill |
Edited by - Ardent Listener on 08/24/2006 13:26:15 |
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Canadian_Nickle
Penny Hoarding Member
Canada
938 Posts |
Posted - 08/24/2006 : 15:20:56
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| I guess if no sh!t hits the fan but we do move away from a cash society, the collector value may increase as more and more kids become coin collectors |
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Metalophile
Penny Collector Member
USA
320 Posts |
Posted - 09/05/2006 : 09:35:37
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I look at wheaties as an important by-product of searching for bronze cents. I just searched a $25 box yesterday and only came away with three wheaties, but they were all in good shape an better dates: 1916, 1934-d, and 1953-s. Apparently in 1997 to publicize the ANA (American Numismatic Assoc.) convention, several valuable wheaties were released into general circulation. Here's something I found at rec.collecting.coins
You must be logged in to see this link.
From other posts on rec.collecting.coins it appears that other ageing coin collectors are spending some of their collectible coins to try to "make someone's day" and to encourage curiosity and seed new coin collectors.
Not sure of the market value of ordinary common date wheat cents, but it used to be 2-3 cents apiece back in the 80's when I was a more avid collector. I remember dealers advertising 5000 wheat cent bags for $139 back then.
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pencilvanian
1000+ Penny Miser Member
USA
2209 Posts |
Posted - 09/05/2006 : 20:50:33
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Hi boomhauer,
I am an occasional coin collector and I think getting wheat pennies for about five cents a piece isn’t a bad idea. If you are willing to buy the pennies for your kids or grandkids, or if you hold them to sell them a few decades from now, it is a pretty good idea.
Here is a little story my late father told me of a penny opportunity he let pass up, much to his regret.
When my father started working back in the early sixties, he would pass a coin dealer’s shop that offered four Indian head pennies for five cents. Today, maybe you can buy four Indian head pennies for five dollars. Since inflation is not going to go away, just about any collectable coin you buy today will be worth more in the coming years.
Even if we reach the point WTSHTF, wheat pennies will have a better trade value than fiat paper.
Who knows, maybe mixed in with your common copper wheats will be a scarce coin worth a couple of bucks.
Don’t just invest in wheat pennies, invest in a coin price guide, like the Whitman Red Book. If you can, pick up an old coin price guide from ten years ago or older and compare prices from then and now.
It seems like everything goes up, except my paycheck. |
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deleted
13 Posts |
Posted - 09/06/2006 : 07:50:31
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Hi pencilvanian,
Thanks for the comeback. If evaluated purely on today's copper value, wheaties do cost about double their worth. But I think they are still cheap (copper's cheap too). Like you, I think their chances of appreciation in an inflationary environment are excellent. And if TSHTF, they are easily recognizable copper bullion coins. Heck, even the kids like them.
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pencilvanian
1000+ Penny Miser Member
USA
2209 Posts |
Posted - 09/06/2006 : 17:06:16
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Glad to be of help, Boomhauer.
Don’t forget, even though wheat pennies sell for about double their melt price, there are plenty of buyers for silver dollars graded as EF-40 Extremely Fine, and they sell for about double the melt price for silver.
Melt value alone shouldn’t be the only consideration, resale value as a collectable should also be considered. |
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Wheat pennies?
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