60 Kgs of Wheat cents?!!

A friend of mine told me he saw 50 kgs of wheat cents with some Indian Head Cents at an estate sale and saw a tag of 900$. I keep thinking if it is worth driving out of state to take a look at it. It seems like a good deal, is it really?

 

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50 kilograms for 900$? It doesn't sound like you are in the US, where the weight would be listed in pounds. And 900$, with the dollar sign at the end?

At any rate, 50 kilograms = 110 pounds. Approximately 160 bronze cents per pound, so that would be approximately 17,600 cents, or $176 face value, or approximately 5 cents per coin.

 

It depends what is a kgs? A kilo or a keg?

It depends what is a kgs? A kilo or a keg?

$900 worth of cents if all copper should weigh around 800 lbs if - you need to know the weight of the cents so you can figure out what you would be paying - 36 lbs, of copper cent is right at $50 worth.

 

Sorry for the misinterpretable language. The information I have so far is there are 110 pounds of wheat cents and to buy this I would have to pay $900.
Was wonderin if this is a good price to buy these coins?

 

I would not expect to find any valuable (S VDB type coins) Lincolns, but a few rolls of Indians might make up for a lot of that if there are even a few $5, $10 etc coins in there. You should not be out much and may make some to a lot. How much of a gambler are you?

 

Way, way too high!

Way, way too high! The price should be in the $375 to $450 max. for that amount/quanity.

 

Indian Head cents (1864 and after) and wheat Lincoln cents weigh 3.11 grams each, depending on circulation wear. Each coin contains .950 grams of copper. So with an accurate weight of the coins you can calculate the total copper. Then apply the noted price of $50.00 for 36 pounds of copper.

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It seems like a good deal, is it really? 

The answer would probably be, not really

 

I understand what you mean, from a quick search of some Ebay auctions the price of a pound of wheat is around $8-$12. For the 110 pounds, it would be 800$ and a good wholesale price would be half that, around 450$ like you said. Bigger lots like these are hard to find. Any suggestions where I could look out for bigger lots besides the bay?

 

Now the only reason a went as high as $450 is sometimes you have

Now the only reason a went as high as $450 is sometimes you have to a gamble that they have not been searched and really are an "old time group" who knows what's in there?
But the $900 is so far out there no dealer is going anywhere near that #.
Large groups can be had at shows or shops from time to time but the best bet is as you let folks know your interested in such a group will come to you from time to time. Most important advice unless they are from a little old man or little old lady, and you believe they have been in that persons possession since the 50's, they have been searched - you just must assume that always

 

How far of a drive are we talking about? If it really isn't all too far go take alook at them and offer what you feel is fair. If you don't mind me asking, what state are they in?

 

8 hours !! All the way from Seattle to Southern Oregon

 

Where at in s. Oregon? I'm born and raised in Portland but I moved away 6 years ago.

 

Why not have your friend go pick them up for as cheap as he can get them for and then have him send them to you via a couple of USPS flat rate boxes?

 

Well first thing I understand from the forum is that the price is very high.
Secondly, I want to personally take a look at it before I blow $900 on anything.

 

I'd imagine that it's probably in the Medford or Ashland area based on the time. I'm currently in Portland...and that's about 6 hours from here.

In any case, I don't think it's much of a deal. At about $0.05 per cent, that's about what a lot of dealers sell them for individually. In bulk, they should be cheaper.

 

re 60Kgs

I have a friend of mine who is a dealer that sells me unsearched wheats for $220 + tax for 5000 if that is any indication

 

Wheat cents wholesale for $185 a bag dealer to dealer
they buy " over the counter " for $150
These are for common bags, searched and 40-50's only, no S mints or steel

Better bags? The skys the limit depending on how much you trust your seller. I have paid $750+

 

It seems it is near a place called chemult.

 

get waitlisted with budgood or hook up wth aj u cant go wrong with them

i would have said harry too but he doesnt deal he just collects

 

why not tell us the story of the 750 bag