What would you pay for a completed set of Wheat Pennies?

Before anyone asks, they are in a Warman's folder and all the coins are G or better. All dates and mintmarks are included but there is not 1922 plain or 1955 double die. Note this is not an offer to sell I just want to know how much money i have to work with in completing the set and trying to resell for a profit. So far, I have spent $20 on everything and here are the dates I am missing 1909-S VBD 1909-S 1911-S 1912-S 1913-S 1914-D 1914-S 1915-S 1921-S 1923-S 1924-D 1926-D 1931-D 1931-S 1932-D .

Thanks for any help!

 

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That would depend almost entirely on the condition of the coins, especially the ones you list as still needing, which are the key dates.

 

Hard to say. Without the dates you mention (particularly 09-S, 09-S VDB, 14 D, 22 no D, 31-S, and 55 DDO), you don't really have a lot worth mentioning if they're all "average circulated." If they're nice, well-matched XF coins, then you might have something worth paying for.

 

Lets just assume that when I complete the collection all the coins are G or better with all of the dates listed being G-F.

 

You have along way to go before you can even think in the terms of a set. My guess it will be at least two to three years to complete, even at "G" grade or better. You will have to get some of these from a dealer so you will pay full retail. Today's prices on what you now own won't mean much in calculating a future sets value. Go to the library and check out the Red Book with current pricing. That will give you a rough idea of what you own unless one of the YN's here will research all this for you. Way too much work for me and it seems the same for you.

 

I understand that, that's why I'm trying to get the whole collection. I want to know the approximate value of the full collection.

 

I could finish this set right now if I wanted to. What I'm asking is what can I expect to get once the set is full. This way I know how much I can spend so I can make a profit.

 

Your going to have to calculate this on your own. Very few people collect on the low end. If there are no collectors like this when you sell, you maybe very disappointed. The Red book price minus 40% for resale is what I would use and the library is still your source. If you can finish the set right now, then by all means, buy the book. You have the money.

 

I have the book by the way so there is no need to go to the library.

 

The true answer to your question is that I wouldn't buy a raw, low-grade set at all.

For the keys, I'd be looking at at least VF most likely, and certainly certified. I won't buy a raw coin from anybody over $500 unless it's someone I trust.

Rough estimate in XF40 (high retail prices, based on Numismedia FMV):

09-S: $150
09-S VDB: $1000
14-D: $750
22 plain: $2000
31 S: $100
55 DDO: $1500

So, a set in XF40 should retail somewhere around the $5000-$5500 mark.

 

Thanks everyone for your input so far but right now I'm looking for a value. So if you want to give advice that's great but please include what you would pay in your post too.

 

Really isn't that difficult to do a little research on something like this.

Sold listing on ebay would be a good start
http://www.ebay.com/sch/i.html?_fro...lete=1&LH_Sold=1&rt=nc&_trksid=p2045573.m1684

 

I'll help you out further, if they were all VF20 coins, or average out to VF20 prices; multiple them all by $3.00 each less 40%. Then check what a "G' grade 1909S V.D.B. cent is worth in your Red Book. Then think about how many more sets like yours you would need to buy just one. Then think how little this information you want, will affect how much more you have to spend. Then do the same for all the other coins your missing. It will be an eye opener.


I will not tell you what I would pay for them so as not to influence your chances with another buyer. Good luck. I truly mean that.

 

I already looked through (I think) all of them. I can't find one that is a complete set. And before someone says "Can't you just add the value of the coins that are missing from the book?" I believe (and correct me if I'm wrong) a buyer will pay more for a complete set rather then the prices of all the coins combined. I very easily could add up some recent sold prices for all the coins in the set, but; I can't calculate the added value for the set being complete.

 

Here's a couple that are mostly complete and the coins that are missing are not going to add a bunch of value to the set. It's also always been my experience that things sell for more pieced out and not in a set. I really don't think the profit margin that you think is there really is. JMHO and YMMV.

http://www.ebay.com/itm/1909-2007-L...D&orig_cvip=true&rt=nc&_trksid=p2047675.l2557

http://www.ebay.com/itm/1909-1983-C...D&orig_cvip=true&rt=nc&_trksid=p2047675.l2557

 

Don't get the keys uncertified, since coins like the 1909-S VDB and 1914-D are popular to counterfeit.

You may find it easier to build and sell sets with the semikeys (the ones in the $20-$50 range for a G) and skip the keys: sort of like a starter set so the buyer can go on to fill in the last few holes on their own.

It's reasonable to expect to spend $100 for the 1910-1915 S mints in G-VG condition. However, I'd try to get these in VF since they're not that much more expensive (like $30 vs. $20) but will help the appeal of the set. Try to hunt for good deals on these though so you remain solvent.

 

I don't see the point...I thought the fun was finding the coins to fill the holes? Who buys completed albums?

 

With a little time and patience you could probably build a G-VG set in the $500-$600 or less range but I wouldn't expect to be able to sell it for much more than that.

Even new to the series folks start with the coins you speak of but quickly gravitate to the higher grades xf-au ish mostly because at that grade level there's really 10 or so dates with a big price tag (09-svdb,09-s,10-s,11-s,12-s,14-d,22-d,24-d,31-s) and even then with a little time and patience they can be had at discount prices.

As others have said it's a pretty thin market for such a set and those that will buy it are either buying for the keys or buying to resell and will only spend x amount on it and generally looking at a wholesale or less price point.
And no money in it otherwise for the collector or reseller.

Mainly because there's really only 5-6 coins in the set that are sellable or really tough to sell in the lower grades.
And alot of times those same coins can be had at wholesale or less.

Now if you were to put a set together in the vf-xf ish average grade well thats a whole different ball game as it will be much easier to sell.

But then again I could be way of my rocker with my assessment analysis.

 

People don't get into this hobby for fun any more! They don't ask questions about the history of our coinage, either. Now, they expect you to be the H&R Block of numismatics. Oh, and they want the advice free of charge.

Chris

 

The way to make money on sets is to buy them complete or mostly complete and then piece them out.

If you've got $20 in these coins already and want to make a little money off them, I'd spend another $5 on a couple Whitman folders and see if you can sell the whole lot for $35 as a "Lincoln Wheat Cent Starter Collection." After eBay fees, that makes you a very small profit and gets you out of the coins.