You penny collectors

I have a chance from my local coin dealer to buy a bag of supposedly unsearched only S dated wheat pennies. I have been going back and forth on this trying to decide if it is worth the investment since I bank roll boxes of pennies pretty much free, but if I get 10-15 Wheaties out of 2500 I am doing good. He has lowered the price from $300 to $200. What would you do?

 

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Personally or for business investment? Simple, I would PASS. Not worth the trouble. If it makes you happy on the other hand, then do it.

 

If they are unsearched how does he know that they are all S mint?

 

I don't see why not, but it depends on how much you are getting. Though I'm not sure why people always put a premium on "S" date wheat pennies, if there are at least 25 rolls, its not a bad deal. But, that begs the question, how many are there?

 

Could be fun. But seeing as they have already been separated it's also likely they have been searched by someone at some time.

 

Pretty much my thoughts. Thanks

 

I'm not a US Penny expert but if they are only S dated my thoughts are they have been searched, otherwise how would you know that

 

They are in a bag that is labeled wheat Penn it was S mint

 

Never believe the 'unsearched' claim... at best, it only means that the current seller hasn't looked them over yet.

Ask to sample (or buy 2-3 rolls) and then make your decision. $4 / roll is not that great of a deal unless you can confirm its good for picking through.

My LCS lets me search his newly acquired wheaties before he does for 5¢ each ($2.50 roll) and I find a good mix from teens-50s. Yesterday I bought some silver rounds and he gave the wheats and a couple AU Ikes at no charge.

 

The bag is 5,000 pennies

 

When I was a young collector in early 1970s Maryland, we almost never saw S-mint coins in circulation. There were one or two times that one turned up in change, and it was about as big a deal as finding silver in your change today.

 

Unsearched wheat cent lots are pretty much nonexistent at this point. Yes they are unsearched, by you.

 

Don't buy anything that is being sold as unsearched. The guy is a crook for telling you it is.

 

What are you looking for anyway? What's there to find in a bag of S-mint wheaties?

 

And possibly even by the seller, but yeah, mixed-date S-mint cents don't end up in a bag without being searched out of other coins. And nobody doing that is going to ignore 1909-S coins. Or 10-S, or 11-S, or 12-S, or 13-S, or 15-S, or 31-S.

There are surely still some old Whitman folders out there with 1909-S VDBs and other key S coins that were collected from circulation, or bought for a dollar or two. A few of those will get dumped out and cashed in at banks. But you'd get better returns buying lottery tickets.

 

No such thing as "unsearched". Especially if the seller can tell you that they are all "S" mints. Perhaps the seller didn't search them...but someone down the road has - guaranteed.

 

Hey, I won $7 on my Powerball ticket the other day...on a $10 ticket haha.

 

There are no such things as unsearched wheat cents. If they were unsearched, how would the dealer know they were all wheats, and all San Francisco mint marks? I'd pass.

 

Yeah, and I got five semi-key Wheats in an eBay cull lot. It was still clearly searched; it was just searched wrong.