Now THIS is a hoard...

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=310172716089

Has anyone purchased one of these lots? The price isn't too bad, but I'm a terrible gambler.

-LTB

 

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Lord that would be my worst nightmare, not a fan of lincoln pennies.

Guess the happy kids are suppose to warm your heart?

 

I would not even bother unless you actually know the dealer. Chances are that you will get squat.

 

Nice find Louie!

That image with the cents and kids is a hoot!

That much copper in your living room is probably toxic too!

 

How many pennies??

 

Too many cents

 

I get really annoyed when a listing is that long, and they brag so darn much about their customer's feedback. Unless you get at least a semikey dates cent, this is pretty steep for "unsearched wheaties."

 

It seems pretty simple. Buy a lot of wheats in bulk to get a low price, when you start your auctions throw a couple good coins in and post the positive feedback that you just "bought with the good coins, and then wait for lots of sales and generate profits by selling many lots at albeit low profits. Look how much feedback they have. over 20,000 transactions, you only have to make a few dollars profit on each and lookey what you have. I don't know how many wheats you would have to buy to get a bulk rate, but if you have the startup capital, it can easily be done.

 

I wouldn't touch that with a ten foot pole.

Since I've been at the shop we have sold a few hundred thousand "unsearched" wheats. Truly unsearched by us I can say that much - we really DON'T have time. Doesn't mean they haven't been searched before we got them and most likely have been.

The "feedback" of SVDBs, 14D, hundred dollar coin etc. is just TOO good to be true. We have had customers buy multiple bags but have yet to have one report a really rare find. Come to think of it my boss has run a shop for over 40 years and I've never heard him mention anyone reporting rare finds and believe me he'd tell me if it ever happened.

 

They offer 100+ wheat cents for $29.95 and throw in an indian head cent, a couple of nickels and silver (assuming 10x face) that might be worth almost enough to cover the $5.99 shipping.
If I assume 1 pound (~140 cents), you are paying around 20¢/wheat head. Definitely not worth it.

 

This guys been running this ad forever.. NO THANKS..
I know there are truly unsearched rolls on ebay because I have sold them there.. when I was a fool and didn't know what I was doing.. So I am sure others are out there, But FEW.. You have better luck at a Local Shop or Auction..

 

This reminds me of the old salted Gold Mine scam. I could be wrong, but the elements are the same.

 

To many key date coins in the feedback. If it sounds to good to be true............... I'll pass.

 

I agree 100%. TC

 

Ebay has been trying to make it difficult to have friends submit false feedbacks with comments like these. But that's all they have done. A little reinforcement of these rules would aoso do some good. I rarely use feedback as a tool anymore, but rather the immediate gut feeling you get by reading a listing. There are plenty of words or phrases that are an immediate flag saying, "suckers, buy now!"

 

Last night was was looking for Wheats on Ebay and saw a post UNsearched rolls all mint mark "s"...how is that even possible. I had a good laugh!

-Shrek

 

Me neither.

Lets look at this. 29.95 plus $5.99 shipping. For this, you're at least guaranteed $6.36 worth of silver. Ok, that's great. But that's probably all circulated silver coins that, (oh by the way) they have to manually sort through in order to throw each one in the bag!!! Then you get a steel cent which is about worthless if not in premium condition. Then you get an IHC and a buffalo nickel worth maybe $2 a piece? Plus, most likely 100 wheats worth face value because most people aren't going to take the time to sell each one on ebay, take the fees hit and ship each one for 0.30,....... and maybe not even break even!!

Ok, lets add it up...... 6.36 worth of silver + $4 + $1.00 = $11.36 Which is all the auction promises AT BEST. It cost you $35.94. After paypal fees, ebay fees and shipping, he's left with around $26 clear after each sale. If the average bag contains $11 worth of coins (which we know he doesn't have $11 invested in them buying wholesale!!) as promised, then he's got at minimum $15 profit left after EVERY SALE. He has currently sold 144 of them during this current auction. That realistically leaves $2,160 worth of profit so far for him to play with.
He may as well pocket a grand for his work and re-invest the $1160 into semi-keys from the coin shop and sprinkle them in! So he can sell more.

Kind of like the lottery. The only problem is, it takes a lot of losers for somebody to be a winner. People like gambling. So, this auction works well and he's making however much profit he wants. He's already got enough feedback to where he wouldn't have to invest much back into it anymore now.

And call me cynical, but I'd bet $100 it was HIS idea to put the kids in the picture in order to give you a warm, fuzzy, innocent feeling about the auction.

Sorry. I'll take a single coin for $29.95 any day. Cool picture though. Have to give him credit for the amount of promotion that went into that page. Certainly, the most I've ever seen.

 

They used two naughty words - "estate" and "unsearched". :hammer:

 

obw???

 

blah you stole my would be comment. of course - buy and learn. we're not calling EBAY the new HSN yet are we?