Hi everyone, I was just wondering what the deal was with those UNSEARCHED WHEATIES!!! Are these auctions legitimate? I cannot imagine that they are actually unsearched, because of the fact that if there was an expensive coin in there, they would be sure to sell it elsewhere. Also, where do these people get such large amounts of coins? The other day I saw one auction where there was a keg full of coins. Where do these people get these coins? Thanks! -B
Welcome to the forum B and glad you asked that question. No these are NOT unsearched. At some point someone went through them. As for kegs of coins it's pretty simple. Dealers buy in volume at 2 or 3 cents apiece. There are still a lot of wheats out there. Not as much in circulation but in hoards that people kept. I have a few thousand myself. The kegs they picture probably aren't full anyway. More likely lined with a few thousand wheats on top to make it "look" full. Really - how much would a keg of wheats weigh? These seller will often "salt" lots as well. Toss in a decent date that the buyer just "finds". Makes for good feedback. I have sold wheats in the past as "searched" because they were. I also told potential buyers I would "salt" them depening on the bid. That's how it really works. Some are just more honest about it.
