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2ndAmendmentGuy
New Member
9 Posts |
 Posted - 05/26/2008 : 19:47:45
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What should I pay for a lot of "unsearched" wheat pennies? I know that 80% of "unsearched" lots have been picked over time and time again. The lot I am looking at are in bank rolls, and the bank rolls look quite old. They are tattered and look as genuine as genuine gets.
I have seen people paying upwards of 10 cents per coin in an unsearched lot. Is this too much? Any information would be helpful. Thanks in advance!
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TenBears
1000+ Penny Miser Member
USA
1021 Posts |
Posted - 05/26/2008 : 19:52:32
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| HoardCopper has a bag of unsearched wheats on ebay as we speak. Right now, the bid is north of $370.00. |
"Rich," the Old Man said dreamily, "is not baying after what you can't have. Rich is having the time to do what you want to do. Rich is a little whiskey to drink and some food to eat and a roof over your head and a fish pole and a boat and a gun and a dollar for a box of shells. Rich is not owing any money to anybody, and not spending what you haven't got." Robert Ruark
there are too wild Indians...
there are too wild Indians...
there are too wild Indians...-----still taunted
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 05/26/2008 : 20:03:15
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I remember a guy bought a bag of wheats in one of my auctions a year or so ago. I looked at his auctions and he was selling bank wrapped rolls of wheat cents. Some of them were going quite high based on the end coins. It is not that hard to make those rolls if you have a rolling machine and the proper paper.. then you could easily "weather" the rolls. I would be hesitant to pay too much for them. How do you suppose they ended up being solid rolls of bank wrapped wheat cents in the first place?  |
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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NDFARMER
1000+ Penny Miser Member
USA
1197 Posts |
Posted - 05/26/2008 : 21:06:39
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quote:
Originally posted by 2ndAmendmentGuy
What should I pay for a lot of "unsearched" wheat pennies? I know that 80% of "unsearched" lots have been picked over time and time again. The lot I am looking at are in bank rolls, and the bank rolls look quite old. They are tattered and look as genuine as genuine gets.
I have seen people paying up wards of 10 cents per coin in an unsearched lot. Is this too much? Any information would be helpful. Thanks in advance!
You say the wheats are 80% searched I think it is more like 95% searched. I have bought dozens of bags of wheats and searched hundreds of thousands of pennies and have not found any key date coins yet. Just the fact that they are pulled from circulation means they were searched. If you find an 09 S VDB or a 14D you are not going to throw it in a bag. You are going to put it in a book. You can say "UNSEARCHED" by me, but that doesn't mean your wife or son didn't search it. And if you look at the sellers feedback most of the time they have individual key date coins for sale. But yet they are selling bags of "UNSEARCHED" pennies to you, I don't think so.
It is just kind of expected or accepted that if you sell any wheats on Ebay they are always unsearched. And the bigger the story you come up with to go along with your bag the more it sells for. If you say that your Grandpa was a store owner in the 1920's and you found a dozen bags of wheats in the floor boards in his house that you were tearing down, those bags will sell for over $500.00. I am hoping the new feedback rules will help this.
I won't pay more than 6 cents apiece for wheats that I think might have a few better dates in the bag. |
COPPER - the "poormans" precious metal!!!
SELLING - $100.00 face copper shipped to you for $189.00 machine rolled or bagged - PM me if your interested. |
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misteroman
Administrator
USA
2565 Posts |
Posted - 05/26/2008 : 22:16:01
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| I just sold 25K whats tonight for under $.04 each.He asked me if they were searched and I told him I'm sure at one point or another they were and don't expect to find any decent coins in there. |
Buying CU cents!!!! Paying 1.2 unlimited amounts wanted. Can pick up if near Ohio area. |
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jadedragon
Administrator
Canada
3788 Posts |
Posted - 05/26/2008 : 22:22:37
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| I don't have much experiance with Wheats but I do not believe these coins are "unsearched". If you want to buy true unsearched (ie just pulled from circulation), then buy from one of the ryedale owners here like HoardCopper that does not actually search the coins. Even better yet, go buy unsearch Wheats for 1 cent each at the bank. They will be mixed with zinc and newer copper, but you know that they will be truly "unsearched." (ignoring the people looking at them all in pocket change over the last 100 years!). |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 05/26/2008 : 22:25:16
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Even if a bag is truly "unsearched" I would not expect to find key date coins in it. The reason they are key date coins is because they are scarce or rare. There were not many in circulation so there should not be hardly any in a bag. This is the reason I don't bother to search my bags of wheats.
misteroman.. why did you sell 5 bags of wheats? I thought you were buying them, and that you wanted to buy a million this year. |
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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Question About Wheaties
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