Need Opinion on eBay Wheat Cent Auction

Discussion in 'US Coins Forum' started by nds76, Dec 14, 2004.

  1. nds76

    nds76 New Member

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  3. collect4fun

    collect4fun Senior Member

    First question, why would a bank have 40,000 rolls of Wheat pennies?

    2nd question, why would they be getting rid of them?

    I can only imagine that someone brought them into the bank to have them counted and rolled after they searched them.
     
  4. Ed Zak

    Ed Zak New Member

    $22 including S&H...

    Let's see, unsearched wheaties that probably were cherry-picked and searched time in and time again...maybe NOT by the seller, but by many others before.

    Seller brags about a 1909 VDB and a 1943 Steel penny most likely in VG to VF condition. That's worth about $2.

    Next!!
     
  5. badfish

    badfish New Member

    i admit, i do buy off of ebay, but never beleive the word Unsearched, maybe, just maybe unsearched by the seller, but someone before him searched them. Check his feedback though, usually if a key date is found they will say it in the feedback, but be careful, they might have their friend do it for them to boost their sales.
     
  6. collect4fun

    collect4fun Senior Member


    Isn't $4.99 for the lot of 5 rolls and each additional lot of 5 $2.99?
     
  7. nds76

    nds76 New Member

    I'm just looking for a cheap way to get the early cents to fill my collection rather than pay for them singlely on a coin by coin basis.

    David
     
  8. satootoko

    satootoko Retired

    But that way you miss the thrill of the hunt :) and the excitement when a new one is found in a high grade. :D
     
  9. jody526

    jody526 New Member

    I hate to sound like "the Grinch that stole Christmas", but when it comes to the coin business, there ain't no Santa Claus. :(
     
  10. nds76

    nds76 New Member

    Even if I find some dates I need, I can always get the higher grade coins later as finances allow. At least this way I could fill some holes.

    David
     
  11. mcrc

    mcrc New Member

    Another way to get different dates

    David,

    One other way to get a lot of early dates fairly cheaply is to buy a partial set--less adventure, but often better value.

    mcrc

     
  12. tradernick

    tradernick Coin Hoarder

    Not a good deal. $16.95 for only 5 rolls, plus another $5 for shipping? That's over $4 per roll...you could buy rolls of wheats for half that or less at virtually any coin shop or show. Don't be fooled by the "bank wrapped" hype. These are obviously circ coins in new rolls. I think the machines that roll coins and crimp the ends like that are pretty easy to come by, though I could be wrong. Buy the earlies you need at a slightly higher price and be done with it.
    If you just enjoy looking through coins these deals can be fun but don't expect valuable coins. Buy the steak, not the sizzle.
    Nick
     
  13. susanlynn9

    susanlynn9 New Member

    I have to agree with everyone here. Wheat cent rolls on eBay are simply not a good idea. Believe me when I tell you that, by the time they reach eBay, they've been searched beyond belief. I don't think this particular seller has searched them, but they did not make it to the bank unsearched. :(
     
  14. ziggy29

    ziggy29 Senior Member

    That's $22 for 250 coins, or just under 9 cents a coin. You can often buy wheaties from dealers in bulk for less than 5 cents each (often about 3-4c). Granted, those will mostly be late 1940s and 1950s, but I'll bet the vast majority of these are, too.
     
  15. National dealer

    National dealer New Member

     

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  16. collect4fun

    collect4fun Senior Member

  17. satootoko

    satootoko Retired

    At least one coin supply house carries those at a lower total price. They do work pretty well after the first 20-30 messed up tries learning the correct amount of pressure to apply as you turn it. :D
     
  18. Metalman

    Metalman New Member

    I sometimes buy the lots ,but only the ones that advertise a specific date or two that I really want,not the unknown pie in the sky unsearched just think what you might get mystery lots.
     
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