600 wheats into CoinStar tomorrow

I think anyone dumping copper pennies down the sewer (aka coinstar), let alone wheat pennies, are really going to regret dumping them 3-5 years down the road when copper is $10+ per pound, but having said that, if you're no longer interested in holding them, these coins are a pretty hard sell if you're trying to make a profit, so if you're just looking to get rid of them because of a lack of interest, than you're going to sell them at a loss out of desperation to get rid of them anyway, which isn't much better than dumping them down the coin sewer.

 

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Is CoinStar Owned by a Coin Collector

:hammer:I am wondering if the folks behind Coinstar are collectors? I have never used one of the machines but would love to know how to cherry pick their stash. Does it take dollar bills and spit out change also?

 

*facepalm* And here I am trying to fill my wheat book. *Sigh* *Puts on his Coinstar costume and goes to nightowl's hometown*

 

what a good idea, I have heard of collectors actually putting rare old coins into circulation, to generate interest in the hobby, sort of like each year around this time you hear of someone dropping a gold coin into the salvation army kettle.

Tis the season....

 

nightowl, Look, do what I did after trying to sell them on ebay, with little $ and too much costs.

ADVERTISE on Craigslist for a pound of (un)searched wheats for $10-$12 per pound. I found a generous pound to be 157 coins. If you have divided them into decades distribute them accordingly... 50-60 in the 50s; 40-50 in the 40s; 20 or so in the 30s and proportionately fewer for the 20s, and 10s, also add an 09 if you got some. I sold them for $10 a pound and they went fast. I also packaged them in a felt square Foot where they could lay them out right there and looks at them while keeping them on a soft surface. The felt cost me $.39. The ebay thing was such a drag with the S&H and Delivery confirmation. Sell them on Craigslist and you'll meet some local at a neutral location, NOT your home, and you may make a coin collector connection or not.

Let me know how it turns out.

Bruce

 

Do you live in a grocery cart? How much space does $6 in pennies take up, anyway? :goofer:

 

They took up more room than I wanted to devote to cents since I don't really collect them. I kept 2 rolls of the more desirable ones.

2 rolls takes up 1/8th the space of 16 rolls, which is how many there were including culls, and those I kept....so I guess I dumped 700 into the machine rather than 600. I even left a few V nickels in the mix just for fun.

Nightowl

 

I just had an idea. A Wheatstar machine. You put collectable coins in it, and it gives you 9% MORE than face!

 

I've recently dropped a few IHC into those penny dishes at convenience stores. I carry a couple with me, I just don't go into convenience stores that often.

 

Ever left an Ike for a tip? That is fun.

 

Ever pay for something using a $2 bill, an Ike and a kennedy half??? I call that my "trifecta." It is great watching a cashier try to figure out what to do with those since there isn't a spot in the drawer for any of them

 

I've been putting my IHC's into Salvation Army buckets.

'Tis the season.

Let's see what happens.

 

I dig it. A few months ago I took about 30 1940s and 1950s wheats and tossed them over the fence at 3 different elementary school playground areas. My wife loved the idea.

Hope it gets new people involved in the hobby.

 

I placed 500 Wheaties,30 Indians,and 18 Ike dollars into circulation.

 

Yea man it hurts having to do that kind of stuff. I just put 50 dollars worth of Bicentennial Quarters in the coinstar here in town. Luckily,I kept a roll of them for myself.

 

you think Copper will increase by nearly 250% in that amount of time?

I dont...

Great Idea! I'm behind the idea (including funding) if you decide to do it!

 

If you only want face value for them...or a little bit more, why not put a local free ad online or something...like Craig's List. Just have the purchser come pick them up or meet them somewhere. The coins will probably be gone in a couple days. That would be a great Christmas gift for a young collector that a parent could easily afford in these though economic times.

 

I think there is a lot of good suggestions and just a note you can get a gift card from the coinstar machine and that way you do not have to pay fees.

 

That is great!!!:thumb::thumb::thumb::thumb::thumb::thumb::thumb::thumb::thumb::thumb: perfect 10!
I hope it get our youth in to coin collecting!!