wheat cent roll question

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gene2393
gene2393 Posts: 769 ✭✭✭
in U.S. Coin Forum
what would is an average price for purchasing wheat cents in rolls and/or bags? i am looking to buy as many unsearched rolls and bags from dealers that I can but would like to know what kinds of prices I could expect pay. I have bought wheat's from dealers in the past few years that have charged me 0.02 a coin to 0.07 a coin. How should I make an offer on large quantities of wheat cents, based on pounds and or by number of coins.

gene2393

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  • tresgatos
    tresgatos Posts: 531 ✭
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    Do dealers really have unsearched bags of wheat pennies?
    molon labe
  • gene2393
    gene2393 Posts: 769 ✭✭✭
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    Well I know they are not 100% unsearched, my dealer buys them from who ever brings them in. most of them are obviously forties and fifties but he gets so many wheat cents from our area (which is kind of surprising for how small of an area we live in). that he usually just rolls all the wheat cents he get that aren't already sorted for key dates and throws them in rolls, or bags. last week one guy pulled out a 31s out of the 10 rolls he purchased.

    gene2393
  • sf340flier
    sf340flier Posts: 179 ✭
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    I have bought quite a bit of "unsearched" wheat cents from my local dealer over the years. In order to get the best price, you would have to build a relationship with your local dealer. I let mine know that I would automatically buy sight unseen almost any quantity of wheat cents he got. Knowing this, he could go out to shows, take in inventory from the public, and already know he had a buyer for these wheats. He would buy for around 3 cents, and sell them to me for 4 cents.

    The biggest issue for my dealer was that a large quantity wheat cents are a pain in the butt, mostly because they are heavy and represent thin margins. Because I knew him for so long, it worked out well and I had some great finds over the years, 31-s and an 09-s both in VF.

    If you are just buying some random wheats from someone you domn't know (or ebay) you can expect about 5 cents per or so. So a 5,000 count bag, weighing about 34 pounds, could go for around $250. If the bag is known to only be 40's and 50's, you could probably expect to pay $200 or so; lots of early dates $275-300.

    I wrote an ebay guide on how to tell if a big lot of wheat cents is unsearched or not. I'm not selling anything on ebay right now, but I better not list the link just in case. But you can google it under unsearched wheat cents or PM me for more info.

    Good luck!
  • ricko
    ricko Posts: 98,724 ✭✭✭✭✭
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    Wow.. my gallons of unsearched wheat cents are gaining in value all the time. image Cheers, RickO
  • AUandAG
    AUandAG Posts: 25,050 ✭✭✭✭✭
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    I just use the BST. A lot of us collectors are not dealers in the sense we
    have no place of business. But, we get a lot of wheaties in collections that
    we buy. I put them on the BST and no problem. I just sold 3150 cents for
    3¢ each. I'm sure that about half were searched by the collector I purchased
    them from but the other half was just a hoard and not searched by the man
    as he just got them in pocket change.
    Lot's of early dates in that batch including a full roll of teens, twenties and
    lot's of thirties, forties and fifties.
    bob
    Registry: CC lowballs (boblindstrom), bobinvegas1989@yahoo.com
  • cpear
    cpear Posts: 1 ✭
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    want to buy wheat cents and low grade wheat key/semi key dates

  • bearcave
    bearcave Posts: 3,996 ✭✭✭✭✭
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    @cpear put your 1st post on the BST. You will have a super response over there.

    Ken
  • JBK
    JBK Posts: 17,880 ✭✭✭✭✭
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    @cpear said:
    want to buy wheat cents and low grade wheat key/semi key dates

    Why not post this in a new thread on the Buy/Sell/Trade Forum rather than resurrect someone else's 12 year old thread?

  • JWP
    JWP Posts: 37,481 ✭✭✭✭✭
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    In the mid 1960's I took over 200 rolls of cents out of circulation and looked at every one of them pennies. So if i have not looked at them pennies in over 50 years, are they considered unsearched? :p

    USN & USAF retired 1971-1993
    Successful Transactions with more than 100 Members

  • Type2
    Type2 Posts: 13,985 ✭✭✭✭✭
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    My rule of thumb is pay what will get them to sell. Some unc rolls sell for $1.00 over face some will be $20 and up a roll, you need to make that decision. How bad do you want them or if they are common then they will let them go for .50 over face good luck and have fun looking.



    Hoard the keys.
  • moursund
    moursund Posts: 3,207 ✭✭✭✭✭
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    @JWP said:
    In the mid 1960's I took over 200 rolls of cents out of circulation and looked at every one of them pennies. So if i have not looked at them pennies in over 50 years, are they considered unsearched? :p

    And you can guarantee they are OVER 50 YEARS OLD, and all SOLID COPPER. And they probably have MONSTER TONING also.... :D

    100th pint of blood donated 7/19/2022 B) . Transactions with WilliamF, Relaxn, LukeMarshal, jclovescoins, braddick, JWP, Weather11am, Fairlaneman, Dscoins, lordmarcovan, Collectorcoins, SurfinxHI, JimW. God so loved the world that he gave his only begotten son, that who so believeth in him should not perish but have everlasting life.
  • jmlanzaf
    jmlanzaf Posts: 43,072 ✭✭✭✭✭
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    @tresgatos said:
    Do dealers really have unsearched bags of wheat pennies?

    I don't search them. Doesn't mean the guy before me didn't.

    All comments reflect the opinion of the author, even when irrefutably accurate.

  • JWP
    JWP Posts: 37,481 ✭✭✭✭✭
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    @moursund I'm over 50 years old, that mean I have monster toning too, or is that the steel belt radial above my belt. :'(

    USN & USAF retired 1971-1993
    Successful Transactions with more than 100 Members

  • moursund
    moursund Posts: 3,207 ✭✭✭✭✭
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    @JWP said:
    @moursund I'm over 50 years old, that mean I have monster toning too, or is that the steel belt radial above my belt. :'(

    Steel belt radial? I hope you don't have one of those "Dunlop" bellies.
    ("My belly dunlop over my belt"...)

    100th pint of blood donated 7/19/2022 B) . Transactions with WilliamF, Relaxn, LukeMarshal, jclovescoins, braddick, JWP, Weather11am, Fairlaneman, Dscoins, lordmarcovan, Collectorcoins, SurfinxHI, JimW. God so loved the world that he gave his only begotten son, that who so believeth in him should not perish but have everlasting life.
  • Swampboy
    Swampboy Posts: 13,264 ✭✭✭✭✭
    edited January 6, 2022 12:20AM
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    ...

    "Inspiration exists, but it has to find you working" Pablo Picasso

  • mr1931S
    mr1931S Posts: 7,314 ✭✭✭✭✭
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    There are some tantalizing offers of wheat rolls on ebay. Just recently I saw multiple rolls of wheat cents with V.D.B. showing on both ends of the rolls being offered. And that's just one seller. Who knows what might be lurking between those V.D.B.s?

    "Two things are infinite: human stupidity and the universe; and I'm not sure about the universe."
    -Albert Einstein-

    Mistakes are natural. But repeated mistakes without reflection are something else. That may be the “stupidity” he was referring to. In research, he admitted uncertainty openly. “If we knew what it was we were doing, it would not be called research, would it?” This shows humility. Even a Nobel laureate accepted doubt. That humility makes the quote less cynical and more observational.

  • MasonG
    MasonG Posts: 7,589 ✭✭✭✭✭
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    @jmlanzaf said:

    @tresgatos said:
    Do dealers really have unsearched bags of wheat pennies?

    I don't search them. Doesn't mean the guy before me didn't.

    The guy you're responding to...

    Last Active August 22, 2014 9:42AM

    Just sayin'. ;)

  • jmlanzaf
    jmlanzaf Posts: 43,072 ✭✭✭✭✭
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    @MasonG said:

    @jmlanzaf said:

    @tresgatos said:
    Do dealers really have unsearched bags of wheat pennies?

    I don't search them. Doesn't mean the guy before me didn't.

    The guy you're responding to...

    Last Active August 22, 2014 9:42AM

    Just sayin'. ;)

    Yes, I know. But if we're going to resurrect old threads, we might as well add to them.

    All comments reflect the opinion of the author, even when irrefutably accurate.

  • moursund
    moursund Posts: 3,207 ✭✭✭✭✭
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    @jmlanzaf said:

    @MasonG said:

    @jmlanzaf said:

    @tresgatos said:
    Do dealers really have unsearched bags of wheat pennies?

    I don't search them. Doesn't mean the guy before me didn't.

    The guy you're responding to...

    Last Active August 22, 2014 9:42AM

    Just sayin'. ;)

    Yes, I know. But if we're going to resurrect old threads, we might as well add to them.

    100th pint of blood donated 7/19/2022 B) . Transactions with WilliamF, Relaxn, LukeMarshal, jclovescoins, braddick, JWP, Weather11am, Fairlaneman, Dscoins, lordmarcovan, Collectorcoins, SurfinxHI, JimW. God so loved the world that he gave his only begotten son, that who so believeth in him should not perish but have everlasting life.
  • ricko
    ricko Posts: 98,724 ✭✭✭✭✭
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    Wow... ancient thread... However, I still have those wheat cents - plus many more in those jars....Cheers, RickO

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