600 wheats into CoinStar tomorrow

Postage has gotten so high that it's not worth trying to sell them, so I decided today that I am going to put over 600 wheat pennies, from 1911 to 1958 into circulation via the coinstar machine at WalMart. I kept 2 rolls, all 1909-33. They take up far less room than the whole bag did.

Finding some wheaties may just put a smile on someone's face, and maybe start a few people into coin collecting.

Nightowl

 

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personally I couldn't do it.....more power to you....

 

I'm sure they would all fit in a $4.95 flat rate priorty box (the small one). You'd just have to tape it up really really good as the boxes are weak.

I'm sure you can find someone that'll pay you $6.00 + $4.95 for those wheaties. You won't even get a full $6.00 after the 9% or so fee. Please don't just dump them in the Coinstar

 

I have a roll of no date buffalo nickels that are going to go in there too. Nobody wants them unless they get them for nothing.....so they can have them for face value. I'll get 8.9 percent less than face value....but hey, it's Christmas.

Nightowl

 

how much do you want for the buffalos and whaets? ill have some money after christmas....

 

I've already decided that I won't sell them. I think it's a great thing to give a thrill (if just a tiny one) to potentially dozens of people....or maybe one coinstar employee. I'll bet they don't sort pennies though. I'll have to keep the steel ones when they get spat out.

Nightowl

 

You would get $12 - $18 for them at my coin club auction. Oh well, someone will get an early Christmas present. Good thought however on maybe starting someone into coin collecting.

 

I think lots of kids (old and young) will get a charge out of it.

Nightowl

 

Though, as stated, I couldn't do it, I think you are right....you will make someone's (or several someone's) day. I hope it is not a coinstar employee, but actually enters circulation.....

 

Nothing wrong with doing that. It promotes the hobby IMO.

Common wheats sell for 5 cents each, at most you're out $30 by doing this.

 

Well, they're your Lincolns and buffs and you can do what you want but the coin collecting community would be better served if you just donated them to the nearest coin club. That way the new youth collectors would get them. Just a thought. :thumb:

That way you know for sure, that kids will get a charge out of them. Have you been by your nearest coin club? As someone else mentioned, you can auction them off and you may find a new source. :secret:

 

A generous gesture to be sure, and one that should earn you karmic rewards. At least if there's any such thing as karma!

 

I kept the better ones. There were 3 1909 VDBs, 1910 x 2, 1911, 12-d, 13-d x 2, 13-s, 14, 15, 15-d x 2, 15-S, 16-20 pds, 21p, 23s, and so on...some nice early phillies....lots of goodies in the little pouch I kept....so if I sell those...I'll get what I was asking for the whole dang bag.

Nightowl

 

I think it's a great idea,I sometimes drop wheaties into circulation just for kicks,and to get some put out there,so somebody else has a chance to find them,of course I pick out the goodies first,I'm not that generous.

 

Why do people even use coinstar?

My bank will give you cash for your coins and they don't charge a fee.

 

I agree, roll them, get them into a bank, and be on your way if you don't want to sell them. They'll get into circulation (or some roll hunter's collection) sooner.

BTW, tell me if you don't want those buffalos :bigeyes:

 

I don't even have to roll them at my bank, actually they won't take rolls you must break them up and they dump them into the counting machine.

 

My bank offers a free coinstar to people who bank there. I spend stuff like that all the time. Just spent 10 silver certificates over the weekend.

 

If I wanted one person to just stash them...I'd hand them to the bank teller. The Coinstar route may actually have a little better chance of seeing them distributed.

Nightowl

 

Sorry, but people using coinstar are generally not very bright. Stand at the grocery sometime and watch the peoples faces as the money jingles through. I have found that they generally look like they hit the lottery. It also draws a bunch of onlookers who are likewise thrilled by it all. Kind of like the guy the haul 5 bags of cans to the junk yard.

The only thing they are really doing is losing money. Most major banks have counting machines and will gladly take your loose coins if you have an account. I do it all the time. I guess some people think an 8-9% loss is ok, but honestly most of them don't even know they are getting less money.

Probably a better bet might be to buy coinstar stock (it is down now) and they also own the redbox video machines you see at all the
stores.

Just a thought....
Lack