Valuing wheatbacks

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Jeffnlu
Jeffnlu Posts: 297 ✭✭✭✭
in U.S. Coin Forum

A friend of mine has roughly thirty pounds of wheatbacks he would like for me to purchase. I will sort through them looking for the keys but otherwise how do I determine a fair price for both of us?
My thought is, excluding keys to value the 1940's and 1950's at two cents apiece. And the older ones at three cents apiece.
If I find any keys I would probably take them to the LCS and get his opinion on value.
Thoughts?
Thanks

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  • ricko
    ricko Posts: 98,724 ✭✭✭✭✭
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    @Jeffnlu.... Welcome aboard....I have read various estimates on bulk wheaties and your idea is in the ballpark...probably a tad more generous than most dealers. If you should find any of value, you might try posting a picture here for opinions even prior to your LCS.... Good luck, Cheers, RickO

  • BuffaloIronTail
    BuffaloIronTail Posts: 7,765 ✭✭✭✭✭
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    You can't assume that there will be anything in there that would be a key, or scarce. You're correct to buy them at bulk. Imagine the fun you will have sorting through them!

    Take what RickO says above. Don't pay an arm or a leg for them.

    Pete

    "I tell them there's no problems.....only solutions" - John Lennon
  • BLUEJAYWAY
    BLUEJAYWAY Posts: 11,794 ✭✭✭✭✭
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    Be sure to check for errors/varieties.

    Successful transactions:Tookybandit. "Everyone is equal, some are more equal than others".
  • 291fifth
    291fifth Posts: 25,218 ✭✭✭✭✭
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    The chance that any keys are in the lot is remote at best. Don't be generous as you are buying a bunch of very common coins that the present owner has not bothered to put any effort into learning their value.

    All glory is fleeting.
  • Jimnight
    Jimnight Posts: 10,846 ✭✭✭✭✭
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    What all the above said.

  • jafo50
    jafo50 Posts: 331 ✭✭✭
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    If your friend is a coin collector you have no shot at finding anything of value. If he has just been throwing wheat cents in a jar for the past thirty years then you might find something of value. Two cents apiece is all I'd offer.

    Joe

    Successful BST transactions with lordmarcovan, Moldnut, erwindoc

  • david3142
    david3142 Posts: 3,693 ✭✭✭✭✭
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    I think someone on the BST is offering 2.5 cents each. Put them in contact and don’t worry about getting in the middle.

  • 1630Boston
    1630Boston Posts: 14,157 ✭✭✭✭✭
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    Welcome aboard.
    I recently sold all of mine locally [postage would kill most any deal] for about 2 cents each. Any that I get now I just return into circulation. :smile:

    Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb, Ricko

    Bad transactions with : nobody to date

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