@coinbuf said:
As a coin dealer shouldn't you be paying at least $.03 each, that is what you have vehemently claimed copper Lincoln cents are worth and what any coin dealer would pay at a minimum. Just over face sounds like you're not being fair to the seller.
While your 😉 indicates that your post was tongue-in-cheek, his previous vehement claims pertained to wheat cents, anyway, not 1960’s to 1970’s examples. And they didn’t involve transactions which necessitated moving tons of coins.
I would pay 3.5 cents now for wheats in that quantity as wholesale is $240 per bag. [I still vehemently believe that buying wheats at Face Value in small quantities is inappropriate giving the wholesale value.]
While technically the copper value of LMC is 3 cents, you can't legally access that value so they remain 1 cent coins in face value.
Now, Greysheet on the 1961 to 1970 coins runs around $1.50 per roll for most years. You can get $4+ on ebay but it is a thin market. That is why I would entertain paying over face for them. The current owner just wants them gone at face value. I would be able to buy them from the person (collectibles dealer) he is selling them to. Another coin dealer offered 55 cents per roll. Hence, I could buy them for something north of that number.
Then I have to move 7000 pounds of coins to my house. Sell them. And move 7000 pounds to the post office. I've done nuttier things for a few bucks but it is a lot of weight.
@Fraz said:
Is there a way to figure out pre-sales? Maybe create a “surprise box” program. If I think it is a decent idea then ii probably is a bad idea to saddle yourself with that mess.
@tcollects said:
what's wrong with all the naysayers - this is the coin forum - of course he should buy them, even if all he does is dump them out on the floor and roll around in them
Lol.
Then how many days does it take to feed a million cents into coinstars?
@coinbuf said:
As a coin dealer shouldn't you be paying at least $.03 each, that is what you have vehemently claimed copper Lincoln cents are worth and what any coin dealer would pay at a minimum. Just over face sounds like you're not being fair to the seller.
While your 😉 indicates that your post was tongue-in-cheek, his previous vehement claims pertained to wheat cents, anyway, not 1960’s to 1970’s examples. And they didn’t involve transactions which necessitated moving tons of coins.
I would pay 3.5 cents now for wheats in that quantity as wholesale is $240 per bag. [I still vehemently believe that buying wheats at Face Value in small quantities is inappropriate giving the wholesale value.]
While technically the copper value of LMC is 3 cents, you can't legally access that value so they remain 1 cent coins in face value.
Now, Greysheet on the 1961 to 1970 coins runs around $1.50 per roll for most years. You can get $4+ on ebay but it is a thin market. That is why I would entertain paying over face for them. The current owner just wants them gone at face value. I would be able to buy them from the person (collectibles dealer) he is selling them to. Another coin dealer offered 55 cents per roll. Hence, I could buy them for something north of that number.
Then I have to move 7000 pounds of coins to my house. Sell them. And move 7000 pounds to the post office. I've done nuttier things for a few bucks but it is a lot of weight.
And if they don't move fast enough you'll have to listen to your wife every day... "When are going to get rid of this stuff?"
@124Spider said:
Pass, and get a job at McDonald's flipping burgers; that's a better hourly rate then sorting through a million cents!
No kidding. My thoughts exactly. Probability of finding enough errors, meaningfully valuable varieties, and enough higher grade TPG eligible coins is too low for the time trade-off.
I don't know what the demand is from roll "collecting". Never understood what kind of collecting that is. I have duplicates of some coins and know others have more than I do, but never seen any point in saving large volume of ultra-common coins when so many others are almost certainly doing it too.
If you can profit from the purchase, why not buy it? If you are talking original boxes put away in the 60's and 70's . You could share them with another person if you cannot handle the volume. Contact RFT (Rob finds treasure) or Diggin Dave to search them, they can go through 400 boxes in no time. Another thing would be the weight-do you have a good storage area that can handle the weight? Perhaps (but not likely), the government will take the ban off melting copper coins and if this happens you get an immediate windfall. If they are BU rolls you make a fortune right away. There are endless possibilities here. Selling a box at a time on eBay could bring a big profit even if circulated.
I don't see much of a gamble here. I would purcahse them without concern.
The magnitude of such a project alone (shipping or transporting, sorting, repackaging etc.) is enough for me to say pass... at least for me. A major commitment... Cheers, RickO
Does "original bank boxes" mean that the coins are from original BU Mint bags and were rolled at the bank, or could they simply be circulated coins from that era that were rolled at the bank and placed into "original bank boxes??
Also, I would want to know the history and the storage conditions for all of these intervening years. I wouldn't be happy buying 1,000,000 spotted BU Lincolns from the 60's & 70's. I would want to do a random spot check from several boxes in order to verify the average condition of the coins, and to possibly get a cross-section of dates samples before even going there.
Either way, you are bargaining for a logistical challenge and alot of work.
Q: Are You Printing Money? Bernanke: Not Literally
@jmski52 said:
Yikes! Something like this doesn't come up often.
Does "original bank boxes" mean that the coins are from original BU Mint bags and were rolled at the bank, or could they simply be circulated coins from that era that were rolled at the bank and placed into "original bank boxes??
Also, I would want to know the history and the storage conditions for all of these intervening years. I wouldn't be happy buying 1,000,000 spotted BU Lincolns from the 60's & 70's. I would want to do a random spot check from several boxes in order to verify the average condition of the coins, and to possibly get a cross-section of dates samples before even going there.
Either way, you are bargaining for a logistical challenge and alot of work.
Agreed on all counts. But as I told my sister when she was considering buying a pallet of returned goods and was afraid it was too much work: you make your money on the effort you put into it.
As someone in business who has to order heavy bulk product on a regular basis, All I wish to point out is that current freight costs are sizable. Good luck if you do this. James
I wouldn't buy this to repackage and flip. If I wanted to wager on the future price of copper and the government relaxing the restrictions, that's a different story, and may be very worthwhile if $10,000 isn't a huge part of your world.
If the government stops making cents, for example, I can't see the ban surviving.
So for me it all comes down to storage. I'd put this in the Precious Metals forum.
Do these kinds of things even have Numismatic value? I would think the existence of 1,000,000 of the items in a single hoard indicates just how common they are and how hard they would be to part out.
The substantial truth doctrine is an important defense in defamation law that allows individuals to avoid liability if the gist of their statement was true.
@coinbuf said:
As a coin dealer shouldn't you be paying at least $.03 each, that is what you have vehemently claimed copper Lincoln cents are worth and what any coin dealer would pay at a minimum. Just over face sounds like you're not being fair to the seller.
While your 😉 indicates that your post was tongue-in-cheek, his previous vehement claims pertained to wheat cents, anyway, not 1960’s to 1970’s examples. And they didn’t involve transactions which necessitated moving tons of coins.
Do you know how many coins/rolls/boxes Heritage got with the 'Omaha Bank Hoard'?
Anyone know about numbers in Stacks '57 Street Hoard'?
@RiveraFamilyCollect said:
Do these kinds of things even have Numismatic value? I would think the existence of 1,000,000 of the items in a single hoard indicates just how common they are and how hard they would be to part out.
BU shotgun rolls would have value. Circ rolls not so much. Still waiting to see them in person.
@RiveraFamilyCollect said:
Do these kinds of things even have Numismatic value? I would think the existence of 1,000,000 of the items in a single hoard indicates just how common they are and how hard they would be to part out.
I have some doubt that these are as described and if there really are any post-'64 rolls there are very few and most are skunked.
Don't get me wrong here. There are some dates of post-'64 coins that were saved in huge quantities but the better dates were not and all of these sell for a significant premium in good quality. Of course some owners don't want to go through and sell a few at a time and would rather leave some money on the table than to do all the work. But if you have a bag or two of 1971-S cents why wouldn't you ship one for $800?
I'm guessing these are mostly older coins and mostly skunked. If they are pristine even the older coins might be worth it for a young man with a strong back.
@RiveraFamilyCollect said:
Do these kinds of things even have Numismatic value? I would think the existence of 1,000,000 of the items in a single hoard indicates just how common they are and how hard they would be to part out.
I have some doubt that these are as described and if there really are any post-'64 rolls there are very few and most are skunked.
Don't get me wrong here. There are some dates of post-'64 coins that were saved in huge quantities but the better dates were not and all of these sell for a significant premium in good quality. Of course some owners don't want to go through and sell a few at a time and would rather leave some money on the table than to do all the work. But if you have a bag or two of 1971-S cents why wouldn't you ship one for $800?
I'm guessing these are mostly older coins and mostly skunked. If they are pristine even the older coins might be worth it for a young man with a strong back.
It's one man's estate. There don't have to be thousands of people saving them for one man to have done so. They may well have been improperly stored. They may be random rolls. Time will tell. But the existence of one hoard only requires the actions of one man.
Edited to add: I did one other time see a 4000 roll hoard. BU rolls from 1940-ish until the mid 1970s. One estate. Bought by a dealer friend of mine. I refused to buy that hoard. But my friend got the last laugh: when he died, I ended up having to transport them as part of the estate to another dealer.
@daltex said:
I wouldn't buy this to repackage and flip. If I wanted to wager on the future price of copper and the government relaxing the restrictions, that's a different story, and may be very worthwhile if $10,000 isn't a huge part of your world.
If the government stops making cents, for example, I can't see the ban surviving.
So for me it all comes down to storage. I'd put this in the Precious Metals forum.
My understanding is the melting ban is not being enforced against individuals melting coins for their own purposes. It's illegal to melt even one penny for any purpose but the intent of the ban was to prevent a commercial market.
This being said the ban will be lifted when production ceases. Scrappers will pay next to nothing for the coins so waiting for the ban to end isn't a good idea either. I would avoid buying pennies for their metal content unless I had storage AND a need for them AFTER the lifting of the ban.
It's one man's estate. There don't have to be thousands of people saving them for one man to have done so. They may well have been improperly stored. They may be random rolls. Time will tell. But the existence of one hoard only requires the actions of one man.
Edited to add: I did one other time see a 4000 roll hoard. BU rolls from 1940-ish until the mid 1970s. One estate. Bought by a dealer friend of mine. I refused to buy that hoard. But my friend got the last laugh: when he died, I ended up having to transport them as part of the estate to another dealer.
Yes. There are massive hoards that I've seen, heard tell of, or seen pictures of. A million pennies isn't really all that many. I'm merely doubtful because the offering price is so low. Either the hoard has been culled or it has been skunked, or both.
Certainly there is some chance that the rolls are mostly pristine and include many dates. But keep in mind as well that it wouldn't take many bags of something like '71-S cents to disrupt the markets because there is very little supply or demand. God only knows why there is little demand but the supply is limited because there really aren't many of some of these cents. If there are so few then odds are good they don't exist here either.
There are massive hoards out there. I talked to one collector who said he set aside a bag of cents every single year for each mint. Then he started saving even more of the zincolns. Years ago someone posted a picture of dozens and dozens of boxes of '79-D cents on this site but I could never find it with the new search engine.
I'm late to the party on this thread but without MUCH better info as to the probable makeup of the rolls I'd be very dubious about this deal. Assuming BU rolls (if they aren't then I'd RUN from this deal), you can pull the likely pickable rolls and try to do something there... but what about the overwhelming amount of commons? Even if the rolls were BU and not spotty (good luck with that), how do you make them go away at any reasonable profit to offset your investing a ton of time into it? At the end of the day I fear this would just be a case of someone else making their 7000 lb. problem into YOUR 7000 lb. problem. Wheats, those I could work with, but Memorials from the 60s and 70s scream white elephant to me.
Hahaha! Wow, answers are all over the map! Beats General Hospital for drama watching this play out... my money is on @jmlanzaf to make the right decision.
It's one man's estate. There don't have to be thousands of people saving them for one man to have done so. They may well have been improperly stored. They may be random rolls. Time will tell. But the existence of one hoard only requires the actions of one man.
Edited to add: I did one other time see a 4000 roll hoard. BU rolls from 1940-ish until the mid 1970s. One estate. Bought by a dealer friend of mine. I refused to buy that hoard. But my friend got the last laugh: when he died, I ended up having to transport them as part of the estate to another dealer.
Yes. There are massive hoards that I've seen, heard tell of, or seen pictures of. A million pennies isn't really all that many. I'm merely doubtful because the offering price is so low. Either the hoard has been culled or it has been skunked, or both.
Certainly there is some chance that the rolls are mostly pristine and include many dates. But keep in mind as well that it wouldn't take many bags of something like '71-S cents to disrupt the markets because there is very little supply or demand. God only knows why there is little demand but the supply is limited because there really aren't many of some of these cents. If there are so few then odds are good they don't exist here either.
There are massive hoards out there. I talked to one collector who said he set aside a bag of cents every single year for each mint. Then he started saving even more of the zincolns. Years ago someone posted a picture of dozens and dozens of boxes of '79-D cents on this site but I could never find it with the new search engine.
I do wish you good luck in any case.
The offering price is based on the heirs wanting them out of the basement and no dealer wanting to mess with them. The dealer who is buying them [there's also $100k in gold] doesn't want them but he can't find a dealer willing to pay more than 10% over face. Of course, no one has yet gotten to inspect them. But, honestly, I don't know many dealers paying a premium on a board like this. If you have a bag of 1960 cents, yes. But giant hoards are tough to find homes for, in my experience. It is very hard to sell rolls from a lot of these years.
I mentioned the 4000 roll hoard. The wheats sold easily. 3 years later, the dealer I sold them to still has most of the 3000 rolls of Memorial cents. Fortunately, he's good natured and still talks to me. Lol.
@Martin said: @jmlanzaf
Will it keep you, to busy to post here😈
Might influence my decision 😜
Martin
POTD, if not POTY, material right there!!!> @ricko said:
The magnitude of such a project alone (shipping or transporting, sorting, repackaging etc.) is enough for me to say pass... at least for me. A major commitment... Cheers, RickO
Remember the forum member (I forget the name right now) who had all the huge drums of wheaties in his garage? HUGE amounts.
Just get boxes/cases of pennies from your local bank and save whatever copper (1959-81) cents you get...and at least you have a chance to get several Wheatie and/or Canadian pennies and maybe even some nice red 50s/60s cents every now and then!
@Estil said:
Just get boxes/cases of pennies from your local bank and save whatever copper (1959-81) cents you get...and at least you have a chance to get several Wheatie and/or Canadian pennies and maybe even some nice red 50s/60s cents every now and then!
I think as a coin dealer you can find a better balance of margin and time spent than something like this which has an absurd opportunity cost attached to it. The only reason I'd personally consider is if I was in the process of building a donald duck type swimming pool of coins and couldn't afford all gold ones yet and was starting with cents instead.
@coinbuf said:
As a coin dealer shouldn't you be paying at least $.03 each, that is what you have vehemently claimed copper Lincoln cents are worth and what any coin dealer would pay at a minimum. Just over face sounds like you're not being fair to the seller.
While your 😉 indicates that your post was tongue-in-cheek, his previous vehement claims pertained to wheat cents, anyway, not 1960’s to 1970’s examples. And they didn’t involve transactions which necessitated moving tons of coins.
I would pay 3.5 cents now for wheats in that quantity as wholesale is $240 per bag. [I still vehemently believe that buying wheats at Face Value in small quantities is inappropriate giving the wholesale value.]
While technically the copper value of LMC is 3 cents, you can't legally access that value so they remain 1 cent coins in face value.
Now, Greysheet on the 1961 to 1970 coins runs around $1.50 per roll for most years. You can get $4+ on ebay but it is a thin market. That is why I would entertain paying over face for them. The current owner just wants them gone at face value. I would be able to buy them from the person (collectibles dealer) he is selling them to. Another coin dealer offered 55 cents per roll. Hence, I could buy them for something north of that number.
Then I have to move 7000 pounds of coins to my house. Sell them. And move 7000 pounds to the post office. I've done nuttier things for a few bucks but it is a lot of weight.
And if they don't move fast enough you'll have to listen to your wife every day... "When are going to get rid of this stuff?"
Mark
buy her another horse or a kitchen remodel or something to shut her up
Wow!
If I had the cash and space. Time doesn't matter!
I'd do it in a heartbeat!
Like you said yourself.
All those BU's
Then, comes
The Wheaties, even common.
The Key dates
The Errors
The Varieties
Maybe, some REAL Keys?
Such as,
1909s vdb
1914d
1922 no D
1943 COPPERS?
1944 STEELIES?
Think of how many albums you can fill! BU, especially!
Than finally,
Who's to say that some Indian Cents can be included?
Or even Flying Eagles?
I would give it a shot!
Get some trusted family, friends, neighbors and kids to join in!
Think of how you can teach a kid the hobby.
Good Luck, my friend.
In whatever you decide.
Ebay is waiting for some BU Rolls of older dates!
"Jesus died for you and for me, Thank you,Jesus"!!!
--- If it should happen I die and leave this world and you want to remember me. Please only remember my opening Sig Line.
If a bank box is 50 rolls (2500 coins), a million cents would be 400 bank boxes.
Mint sewn bags of 5000 common-date Memorial cents have sold on eBay for $175-$300 per bag plus shipping.
My guess is that original bank boxes of unc. cents from that era would fetch about the same price per coin.
So if it's worth the time spent, it would likely be no problem to recoup the cost of the coins and make a modest profit, plus a bonus if any of the bank boxes contain premium dates.
Comments
I would pay 3.5 cents now for wheats in that quantity as wholesale is $240 per bag. [I still vehemently believe that buying wheats at Face Value in small quantities is inappropriate giving the wholesale value.]
While technically the copper value of LMC is 3 cents, you can't legally access that value so they remain 1 cent coins in face value.
Now, Greysheet on the 1961 to 1970 coins runs around $1.50 per roll for most years. You can get $4+ on ebay but it is a thin market. That is why I would entertain paying over face for them. The current owner just wants them gone at face value. I would be able to buy them from the person (collectibles dealer) he is selling them to. Another coin dealer offered 55 cents per roll. Hence, I could buy them for something north of that number.
Then I have to move 7000 pounds of coins to my house. Sell them. And move 7000 pounds to the post office. I've done nuttier things for a few bucks but it is a lot of weight.
The Vault Box of coin rolls?
Lol.
Then how many days does it take to feed a million cents into coinstars?
If you have patience and time there might be an excellent return on it (you never know) good luck 👍
And if they don't move fast enough you'll have to listen to your wife every day... "When are going to get rid of this stuff?"
Mark
No kidding. My thoughts exactly. Probability of finding enough errors, meaningfully valuable varieties, and enough higher grade TPG eligible coins is too low for the time trade-off.
I don't know what the demand is from roll "collecting". Never understood what kind of collecting that is. I have duplicates of some coins and know others have more than I do, but never seen any point in saving large volume of ultra-common coins when so many others are almost certainly doing it too.
Why?
A lot of these rolls from '65 to '79 have a large premium.
But such rolls are very often skunked. Only a few years of bad storage and the coins can be heavily corroded. Spot check the better dates.
If you are married, I don’t think our opinions will be the final decision.
If you can profit from the purchase, why not buy it? If you are talking original boxes put away in the 60's and 70's . You could share them with another person if you cannot handle the volume. Contact RFT (Rob finds treasure) or Diggin Dave to search them, they can go through 400 boxes in no time. Another thing would be the weight-do you have a good storage area that can handle the weight? Perhaps (but not likely), the government will take the ban off melting copper coins and if this happens you get an immediate windfall. If they are BU rolls you make a fortune right away. There are endless possibilities here. Selling a box at a time on eBay could bring a big profit even if circulated.
I don't see much of a gamble here. I would purcahse them without concern.
Pass. Back surgery is expensive.
Does your house need new floors?
"When they can't find anything wrong with you, they create it!"
The magnitude of such a project alone (shipping or transporting, sorting, repackaging etc.) is enough for me to say pass... at least for me. A major commitment... Cheers, RickO
Yikes! Something like this doesn't come up often.
Does "original bank boxes" mean that the coins are from original BU Mint bags and were rolled at the bank, or could they simply be circulated coins from that era that were rolled at the bank and placed into "original bank boxes??
Also, I would want to know the history and the storage conditions for all of these intervening years. I wouldn't be happy buying 1,000,000 spotted BU Lincolns from the 60's & 70's. I would want to do a random spot check from several boxes in order to verify the average condition of the coins, and to possibly get a cross-section of dates samples before even going there.
Either way, you are bargaining for a logistical challenge and alot of work.
I knew it would happen.
Agreed on all counts. But as I told my sister when she was considering buying a pallet of returned goods and was afraid it was too much work: you make your money on the effort you put into it.
As someone in business who has to order heavy bulk product on a regular basis, All I wish to point out is that current freight costs are sizable. Good luck if you do this. James
I wouldn't buy this to repackage and flip. If I wanted to wager on the future price of copper and the government relaxing the restrictions, that's a different story, and may be very worthwhile if $10,000 isn't a huge part of your world.
If the government stops making cents, for example, I can't see the ban surviving.
So for me it all comes down to storage. I'd put this in the Precious Metals forum.
There are a heck of a lot of easier ways to make a buck!
Do these kinds of things even have Numismatic value? I would think the existence of 1,000,000 of the items in a single hoard indicates just how common they are and how hard they would be to part out.
The substantial truth doctrine is an important defense in defamation law that allows individuals to avoid liability if the gist of their statement was true.
Do you know how many coins/rolls/boxes Heritage got with the 'Omaha Bank Hoard'?
Anyone know about numbers in Stacks '57 Street Hoard'?
If you do end up doing it I'll buy a couple hundred dollars worth from you, sounds fun within reason. Assuming you are splitting into smaller lots.
Collector, occasional seller
BU shotgun rolls would have value. Circ rolls not so much. Still waiting to see them in person.
To je govno. You don't need to speak Croatian to understand this.
"Seu cabra da peste,
"Sou Mangueira......."
dodo?
Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb
Bad transactions with : nobody to date
I have some doubt that these are as described and if there really are any post-'64 rolls there are very few and most are skunked.
Don't get me wrong here. There are some dates of post-'64 coins that were saved in huge quantities but the better dates were not and all of these sell for a significant premium in good quality. Of course some owners don't want to go through and sell a few at a time and would rather leave some money on the table than to do all the work. But if you have a bag or two of 1971-S cents why wouldn't you ship one for $800?
I'm guessing these are mostly older coins and mostly skunked. If they are pristine even the older coins might be worth it for a young man with a strong back.
7000 lbs may seem like a lot of weight but for those who have done work around heavy items it is not that much. Don't be scared of the weight.
It's one man's estate. There don't have to be thousands of people saving them for one man to have done so. They may well have been improperly stored. They may be random rolls. Time will tell. But the existence of one hoard only requires the actions of one man.
Edited to add: I did one other time see a 4000 roll hoard. BU rolls from 1940-ish until the mid 1970s. One estate. Bought by a dealer friend of mine. I refused to buy that hoard. But my friend got the last laugh: when he died, I ended up having to transport them as part of the estate to another dealer.
My understanding is the melting ban is not being enforced against individuals melting coins for their own purposes. It's illegal to melt even one penny for any purpose but the intent of the ban was to prevent a commercial market.
This being said the ban will be lifted when production ceases. Scrappers will pay next to nothing for the coins so waiting for the ban to end isn't a good idea either. I would avoid buying pennies for their metal content unless I had storage AND a need for them AFTER the lifting of the ban.
Yes. There are massive hoards that I've seen, heard tell of, or seen pictures of. A million pennies isn't really all that many. I'm merely doubtful because the offering price is so low. Either the hoard has been culled or it has been skunked, or both.
Certainly there is some chance that the rolls are mostly pristine and include many dates. But keep in mind as well that it wouldn't take many bags of something like '71-S cents to disrupt the markets because there is very little supply or demand. God only knows why there is little demand but the supply is limited because there really aren't many of some of these cents. If there are so few then odds are good they don't exist here either.
There are massive hoards out there. I talked to one collector who said he set aside a bag of cents every single year for each mint. Then he started saving even more of the zincolns. Years ago someone posted a picture of dozens and dozens of boxes of '79-D cents on this site but I could never find it with the new search engine.
I do wish you good luck in any case.
I'm late to the party on this thread but without MUCH better info as to the probable makeup of the rolls I'd be very dubious about this deal. Assuming BU rolls (if they aren't then I'd RUN from this deal), you can pull the likely pickable rolls and try to do something there... but what about the overwhelming amount of commons? Even if the rolls were BU and not spotty (good luck with that), how do you make them go away at any reasonable profit to offset your investing a ton of time into it? At the end of the day I fear this would just be a case of someone else making their 7000 lb. problem into YOUR 7000 lb. problem. Wheats, those I could work with, but Memorials from the 60s and 70s scream white elephant to me.
RIP Mom- 1932-2012
Do it.
I'm sorry but to me, that many cents does not make sense.
Hahaha! Wow, answers are all over the map! Beats General Hospital for drama watching this play out... my money is on @jmlanzaf to make the right decision.
The offering price is based on the heirs wanting them out of the basement and no dealer wanting to mess with them. The dealer who is buying them [there's also $100k in gold] doesn't want them but he can't find a dealer willing to pay more than 10% over face. Of course, no one has yet gotten to inspect them. But, honestly, I don't know many dealers paying a premium on a board like this. If you have a bag of 1960 cents, yes. But giant hoards are tough to find homes for, in my experience. It is very hard to sell rolls from a lot of these years.
I mentioned the 4000 roll hoard. The wheats sold easily. 3 years later, the dealer I sold them to still has most of the 3000 rolls of Memorial cents. Fortunately, he's good natured and still talks to me. Lol.
@jmlanzaf I'm in the TC south suburbs work at a grocery so access to pallets and jacks. I'd be in to help for a few rolls
I am skeptical that they are TRULY 'unsearched'.
With that being said; it would be too much time and effort for me.
Pass.
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
POTD, if not POTY, material right there!!!> @ricko said:
Remember the forum member (I forget the name right now) who had all the huge drums of wheaties in his garage? HUGE amounts.
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
Just get boxes/cases of pennies from your local bank and save whatever copper (1959-81) cents you get...and at least you have a chance to get several Wheatie and/or Canadian pennies and maybe even some nice red 50s/60s cents every now and then!
D's: 54S,53P,50P,49S,45D+S,44S,43D,41S,40D+S,39D+S,38D+S,37D+S,36S,35D+S,all 16-34's
Q's: 52S,47S,46S,40S,39S,38S,37D+S,36D+S,35D,34D,32D+S
74T: 241,435,610,654 97 Finest silver: 115,135,139,145,310
73T:31,55,61,62,63,64,65,66,67,68,80,152,165,189,213,235,237,257,341,344,377,379,390,422,433,453,480,497,545,554,563,580,606,613,630
95 Ultra GM Sets: Golden Prospects,HR Kings,On-Base Leaders,Power Plus,RBI Kings,Rising Stars
That is far different from original rolls
I remember @Bochiman
https://forums.collectors.com/discussion/819143/my-wheat-cents-hoard/p1
Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb
Bad transactions with : nobody to date
I think as a coin dealer you can find a better balance of margin and time spent than something like this which has an absurd opportunity cost attached to it. The only reason I'd personally consider is if I was in the process of building a donald duck type swimming pool of coins and couldn't afford all gold ones yet and was starting with cents instead.
Bingo!
I love a good hoard, but these major cent hoards are quite a different beast, imo.
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
buy her another horse or a kitchen remodel or something to shut her up
On the bright side, you'd only need two of these garbage cans.
@Bochiman the guy also had a red Ferrari in the garage
Martin
Run the other way; pass.
Do you have any large fines you need to pay? Because I hear this is a fun way to do it.
Wow!
If I had the cash and space. Time doesn't matter!
I'd do it in a heartbeat!
Like you said yourself.
All those BU's
Then, comes
The Wheaties, even common.
The Key dates
The Errors
The Varieties
Maybe, some REAL Keys?
Such as,
1909s vdb
1914d
1922 no D
1943 COPPERS?
1944 STEELIES?
Think of how many albums you can fill! BU, especially!
Than finally,
Who's to say that some Indian Cents can be included?
Or even Flying Eagles?
I would give it a shot!
Get some trusted family, friends, neighbors and kids to join in!
Think of how you can teach a kid the hobby.
Good Luck, my friend.
In whatever you decide.
Ebay is waiting for some BU Rolls of older dates!
"Jesus died for you and for me, Thank you,Jesus"!!!
--- If it should happen I die and leave this world and you want to remember me. Please only remember my opening Sig Line.If a bank box is 50 rolls (2500 coins), a million cents would be 400 bank boxes.
Mint sewn bags of 5000 common-date Memorial cents have sold on eBay for $175-$300 per bag plus shipping.
My guess is that original bank boxes of unc. cents from that era would fetch about the same price per coin.
So if it's worth the time spent, it would likely be no problem to recoup the cost of the coins and make a modest profit, plus a bonus if any of the bank boxes contain premium dates.
My Adolph A. Weinman signature
I was weeding out old bookmarked threads and came across this one. @jmlanzaf I take it you never bought the deal?
RIP Mom- 1932-2012