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How do you know?
Brutalfly
Posts: 74 ✭✭✭
I was recently at an antique store and a dealer had large amounts of wheat pennies, Indian Cents, V Nickels, and some older coins.
I was wondering how do you know what to pay for each coin?
The Wheat Pennies were about $0.29, Indian Cent's $1.50, and V Nickels $0.95.
I am really new to this so as for prices to pay when I see them I am kinda unsure.
Any advice I could use for when I am picking up coins for my kids?
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It all depends on the dates and mintmarks.
Just compare prices with your alternative sources, if you have some. (Such as another coin store or ebay).
The prices you list are probably about average for well worn coins.
When you ask about coins for your kids, are you filling Whitman folders with them? Being very general, the generic circulated Lincolns I see on the Buy/Sale/Trade forum can go for as little as .10 if you are buying a hundred or more. Our suggestions here really depends on what you are doing with them.
@Brutalfly , "Welcome To The Forum", you WILL learn a LOT here!
There are many experts here, authors, collectors whom have spent over One Million Dollars for a coin, regular folks like us.
We are a helpful bunch!
P.S. Glad you are getting the kids involved!
I would recommend starting an ad on the "buy sell trade" thread stating exactly what you are looking for. you'll be surprised how many generous folks here may have a lot of the stuff your looking for at very reasonable prices. it doesn't sound like you looking for high end material. good luck and welcome.
eBay ID-bruceshort978
Successful BST:here and ATS, bumanchu, wdrob, hashtag, KeeNoooo, mikej61, Yonico, Meltdown, BAJJERFAN, Excaliber, lordmarcovan, cucamongacoin, robkool, bradyc, tonedcointrader, mumu, Windycity, astrotrain, tizofthe, overdate, rwyarmch, mkman123, Timbuk3,GBurger717, airplanenut, coinkid855 ,illini420, michaeldixon, Weiss, Morpheus, Deepcoin, Collectorcoins, AUandAG, D.Schwager.
While the Indian Cents and V-Nickels were not out of line retail...29 cents for a wheat cent? Damn!
If the shop owner is allowing the customers to sift through the coins and pick out only what they want/need, those are fair prices. In that instance, the shop owner is providing a service, not just selling bulk potluck stuff.
You can buy Wheat Cents for 2 or 3 cents each.
I sold 1,000 wheat cents on ebay for less than $16 and the buyer never paid!!
bob
Date, mint mark, condition. A price guide is a good start.
Successful Trades: Swampboy,
Thank you everybody for your input and advice.
Right now my kids are working on the State Park Quarters as they have completed the State Quarters.
Of the State Park quarters they have 29 of them. So that is going well. Hopefully when the get the ones that are out they can be patient and get the ones that are still to come.
Right now they don't know to much about the value of the coins as their interests in collecting is still growing. I know I will spring that upon them at some point but before I do I want them to remain excited about it.
I know they pay attention to detail and they try to find coin errors and I told them that they might be pretty hard to find but we will keep looking.
In general outside of collecting the State Quarters and State Park Quarters they have collected a few wheat pennies and have some Buffalo Nickels. They also have a few foreign coins in their collection.
Without saying anything to them they started putting their pennies in order by date to see which ones they had even with the shield pennies. Not only that but they have noticed the differences in the Nickels and have been trying to organize those as well. I am trying to let them explore what they have freely but with guidance if that makes sense. I am happy to see them know the difference in all of the American coins and if they pick one up that is a little different older or newer they are trying to figure it out before asking me what it is.
I will definitely look into things that were stated above.
Again thank you for the comments and the help they are appreciated.
AUandAG "I sold 1,000 wheat cents on ebay for less than $16 and the buyer never paid!!"
Bob:
NOW you tell me!! Are they still available? I didn't know I could have gotten away with not paying for mine!
..........and grade.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
@Brutalfly .... Welcome aboard..... Those prices for wheaties seem a bit high... The IHC's, if in reasonable condition seem ok....actually lower than in the antique shops around here. Great that your children are having fun with coins....Cheers, RickO
You may want to pick up a Red Book for your kids. The prices are retail and on the high side, but fun for the kids to price out their coin value. It will also give you a rough guide on coin prices. The book is a handy source to identify US coins, find coin mintage and mint mark location. I been working with my 7 year old granddaughter on how to use the Red Book.
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Searching rolls from the bank can be fun, also. Cents and nickels provide the best chance for vintage finds. Plus, if you have the kids there and the tellers know they are starting up a new hobby, maybe they will keep an eye out for interesting coins for you.