Teller box of 20 unsearched rolls of wheats

Discussion in 'Coin Chat' started by micheldura2, Feb 16, 2011.

  1. micheldura2

    micheldura2 Senior Member

    Does anyone know anything about buying wheats this way? Is it a good risk?

    Unsearched, Sealed Teller Boxes Full of Wheat Cent Rolls!!
    ****Each with Unique Serial Number! Very Few Remain****


    [​IMG]
    These wheat penny boxes were sealed by an undisclosed "Branch #0585" with sequentially-numbered tamperproof labels for inventorying. Our company negotiated this lot at private auction with terms that the bank name remains undisclosed for legal purposes.
    Click here to find a list of banks that have failed in 2010 (Source: FDIC)
     
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  3. Dollar1948

    Dollar1948 New Member

    HHmm....who says they are unsearched. Get my point?
     
  4. ikandiggit

    ikandiggit Currency Error Collector

    Just another gimmick.
     
  5. micheldura2

    micheldura2 Senior Member

    They are selling on ebay for 99.99...showing the box all sealed up...how does someone do this? I will let everyone know what I find when they get here!:) Yikes....
     
  6. cncman

    cncman Senior Member

    couple of problems, it says right on the top sticker that it was "counted by...." so someone searched them to at least count the amount. Then, I don't know anything about packaging like this but that looks pretty modern to me, if these were supposedly from a bank and all wheat cents that would imply that these were recently minted when packaged, which would mean in the 50's. That box doesn't look like it came from the 50s
     
  7. micheldura2

    micheldura2 Senior Member

    Well, there is more information too..here~

    Limited quantity, once they are gone, they're gone!
    A sales rep from a national liquidation company that manages troubled financial institution assets contacted us with a rather unique find. His asset management team came across a limited quantity of sealed teller boxes containing various wheat cents in one of the branches and this might be a unique opportunity to salvage more funds for the company and pay off debt.

    He brought us several boxes to look through and I must say- it was quite a find. The pennies we went through ranged from early Indian Heads all the way up to the late 50's- hitting every decade on the way. In all, I pulled out 9 Indian head pennies, one of which I ended up selling at a coin show for $114. The boxes also yielded a diverse mix of wheat cents ranging from 1909 up to 1958 with a good variety of mint marks. They had to ensure to us all of the pennies were wheaties. They broke the seal and opened 30 various teller penny boxes from the lot at random, choosing random serial numbers that ranged from the lowest through the highest to authenticate they were wheat pennies.
    His company policy required all of the assets being liquidated and sold in auction format so he solicited several coin dealers and asked for bids. We, of course, were the most interested and paid up the most for them because we know their potential.
    [​IMG]

    Sequentially numbered with tamper-proof security labels, each box has the branch's unique inventory code on it to ensure they weren't tampered with. Most of these security tabs are even initialed by the bank employees that sealed them.
     
  8. micheldura2

    micheldura2 Senior Member

    I am gonna be ill if I get 20 rolls of 1950's wheat cents...lol I thought how can I lose? I mean I have bought "unsearched wheat rolls" for approx ten bucks a shot for one roll..kinda thinking here I was getting them for half of what I have paid. like five bucks a roll and free shipping. who knows.....lesson well learned if I get what I get.
     
  9. ikandiggit

    ikandiggit Currency Error Collector

    Sorry, it's still sounds like a scheme to sell $10 worth of pennies for $100.00. Even if they were all wheats, even at scrap value, it's still very good profit for the seller.
     
  10. Dollar1948

    Dollar1948 New Member

    Is this from an ebay listing?
     
  11. micheldura2

    micheldura2 Senior Member

    Yes Dollar....Have you heard of this before? This was the first time I had seen it....so It looked legit to me...
     
  12. stroligep

    stroligep Member

    I don't know micheldura2, that seller does have some negative feedback. It seems others weren't happy with their boxes.
     
  13. Merc Crazy

    Merc Crazy Bumbling numismatic fool

    Return 'em. He does take returns on sealed boxes, right?

    I mean, if you wanna get shafted on $10 worth of wheats, I'll send you a roll of pre-30's and 19 rolls of 40's and 50's.
     
  14. onejinx

    onejinx Junior Member

    Hell, I will sell al my useless wheats for $10 a roll if you want them.

    I am sure you are just being facetious for the response, but offers are not allowed except in the classified section, some one may take serious. Jim
     
  15. vipergts2

    vipergts2 Jester in hobby of kings

    Does in mention anywhere in the ad when the boxes were sealed? Sounds like the normal "unsearched" scheme with a new twist.
     
  16. micheldura2

    micheldura2 Senior Member

    Merc Crazy...He does take returns on unsealed boxes...
     
  17. 19Lyds

    19Lyds Member of the United States of Confusion

    Thats not what I read in the auction.

    I see:

    "Returns
    Due to the nature of this product, returns are not accepted as we cannot resell this item should it be opened or searched."


    What I also see, is a really elaborate scam to sell common wheat cents at .10 cents each under the guise of being "unsearched".

    Given the flow of cents within the current economy coupled with annual mintage totals in the billions, I find it impossible to believe that ANY banking institution would have "sealed teller" boxes (if such a thing is even a legitimate term) of cents laying around.

    Banks don't like coins in storage vaults because they are dead money which does not earn them interest. This is the PRIMARY reason Kennedy Half Dollars must be ordered. Banks don't stock them. Banks will only order as much coinage as they can adequately distribute and certainly do not "stock pile".

    I believe this listing as much as I believe that fella that sells the rolls of cents with seated liberty dimes as the end coin, or the 1909 IHC as the end coin, or the 31-S on both ends.
    This stuff just DOES NOT happen in the real world.
    But "dreamers" apparently eat it up.

    http://cgi.ebay.com/Old-OBW-Penny-C...75?pt=Coins_US_Individual&hash=item1c19711c33

    http://cgi.ebay.com/UNSEARCHED-PENN...75?pt=Coins_US_Individual&hash=item1c196417c7

    http://cgi.ebay.com/UNSEARCHED-SHOT...02?pt=Coins_US_Individual&hash=item1c1963caee
     
  18. goossen

    goossen Senior Member

    Read the feedback, even positive ones are telling coins weren't really unsearched and sealed on the 50's.

    Also there is this guy saying he found a 1998 Lincoln! :eek:
     
  19. micheldura2

    micheldura2 Senior Member

    I see what you are saying about the returns 19Lyds...

    "Returns
    Due to the nature of this product, returns are not accepted as we cannot resell this item should it be opened or searched."



    Read more: http://www.cointalk.com/showthread.php?t=156916&page=2#ixzz1EFNUMR00

    It is a definite iffy sentence..in one way it states returns are not accepted..and then it says...should it be opened or searched...it is misleading for sure. Live and learn....
     
  20. 19Lyds

    19Lyds Member of the United States of Confusion

    It wouldn't take much to simply seal the rolls in another box.
    I'm livin and I'm learnin!
     
  21. micheldura2

    micheldura2 Senior Member

    Amen 19Lyds! lol
     
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