I was looking on ebay and can't decide who has good bags of 5000 wheats, anyone know a good dealer or a good source for wheats?
I guess that depends on how you define "good bags". When buying bags of coins like that there is not going to be much difference in any of them. You can count on it that they have been searched numerous times - so it is highly unlikely you will find any rarities. You may well find some nice coins though - I guess it just depends on what holes you need to fill. So since all bags are pretty much equal - I guess all that matters is the price. We have a few members here who sell these - you could send them a PM and ask. But the shipping on these will drive the price up a good bit. So you might be better off finding a local dealer where you can buy them in person and not pay shipping.
Years ago, I had more luck searching bags I purchased from a local dealer. After all, they will tell you they can't afford to pay somebody to examine every Lincoln coming in, so they sell it by the pound. Ebay lots have been searched time in and time again. They may be "unsearched" to the seller, but 99% of the time, they have been searched and cherry picked many times before. Don't fall for "estate coins, found in the attic, found in a old Kansas bank vault, old widow's coins, etc." because it is nothing more than a scam. Examine the feedback close and hard too. Use this: Feedback LINK
I wish people would sell wheats by the rolls. I'm not sure why they sell by pounds, half pounds, or quarter pounds. It's easier for me right off if they sell by rolls. At least I would know right away w/o doing any math how many coins there are. David
Well, remember David that rolling coins is labor intensive, and when people are selling bulk lots at relatively low prices, the extra labor makes a difference. It's not that hard to estimate quantity from weight. Bronze wheaties and memorials, at 3.11g each, come approximately 145 to the pound. 1943 steel cents weigh 2.7g and come about 167/pound. The 1982-date copper-plated zincs are only 2.5g, or 180/pound.
What you see is not ALL you can get on ebay..... I was itching to search through a bunch of wheaties....knowing full well that nothing is completely unsearched.....so I browsed through ebay for a bit. There was a seller with 10 lbs he had "inherited" and was trying to sell in 1 lb lots. He was obviously not a regular bulk seller (judging by past his past ebay sales) and got no bites. I emailed him and made an offer for the whole 10lbs. With shipping it ran me $40. I suppose if I wanted I could sell them off myself in 1/2 pound lots, but then I've already pulled the 1909 VDB (darn no S) that was in it
Lawdogct, Nice pull! With all the talk on this forum about "unsearched wheats" and "is it worth it" I think you just proved a point. Sometimes it can be!
Considering almost 28,000,000 1909 VDB's were minted and many more hoarded due to its first year release, they are fairly common. A 1909 VDB in EF40 condition fetches around $5. The key is finding those early "common" wheats in MS condition or above. Market forces come into play and the prices really take off beyond MS60. Now finding wheat cents with mintage figures below 10,000,000 in "unsearched" lots would really impress me. Could it happen? Of course it could! You just have to weigh your cost, time, effort and what to do with those wheat cents now in your position. I have a pickle gallon jar half full with wheaties. I guess they will end up as "unsearched lots" on eBay someday. As to was it worth it? If you spend $40 and only find a $5 coin...or even if it were graded MS60 (now worth $10), was that a good return on your investment? Think about it...
Midas, You must be right, the math and mintage quotes can't bve wrong. However I'm not convinced. I guess our definitions of "worth" differ. Worth to me includes 1) the time speant with my son pulling wheats from bank rolls. 2) the feeling of excitement when we find a relatively scarce date (which doesn't necessarily have to be valuable) IMO, pulling a 1909-VDB form a roll is a scarce find; 3) The memories/story we create on those coins we pull (i.e. this penny is as old as Grandpa, etc), and finally 4) the $0.03 - $0.05 per wheat. If I add it up..............It's worth it!! As a added bonus, I know a possibility of pulling a rare date exists.(as low as it may be, it still exists) For those who don't agree...don't search your wheats; keep them unsearched for those of us think it's "worth" it.
here here!!!! that is the kind of optimism that pays off. if you don't search, you will not find. my two cents worth, he he, michael
More and more "unsearched" bags of wheats are a thing of the past. Since prices started rising on early dates in bulk, many flea marketeers and vest pockets, as well as many brick and mortar shops have begun separating by decade. For instance, I bought 3 bags of wheats (5000 coins per) today for $160 each. They're just mixed, nothing special...probably all 40's-50's. But for a full bag of teens I'd gladly pay $525. Big difference, eh? Some people argue that variety discoveries of the last few decades are a strong reason to search bags, even if they might have been searched for key dates before. That's a valid point. But everyone and I mean EVERYONE should be aware that the chances of finding a 14-d or an 09-s vdb are very low. These coins started leaving circulation within a few years of being minted and over the decades most every hoard has been searched a few times. That's my 2c worth Nick
This thread is raising points and questions I see repeated often in this forum if not spoken about directly. What is a coin worth? So I'm going to start a new thread on the topic.
I've got a couple hundred wheaties sitting around. I wonder how well it would do if I offered it on ebay as a "Thoroughly Searched Lot." Either that or as a "Totally Unsearched by you Lot."
