You penny collectors

The only benefit I would/might find in these lots are possible RPM's, die cracks and chips and clashes. These are often overlooked by previous searchers who are only looking for the better dates. But that is a niche hobby I enjoy but is not everybody's cup of tea.

 

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Offer him $100 and see what he says. He obviously wants to get rid of them.

 

$0.05 each sounds like a deal that can’t go to wrong for S mint wheaties

 

So $0.04ea.
Give it a shot.
$200 worth the entertainment, then you can make your assessment of unsearched from this dealer.

 

Unsearched is just a word, all Wheat Coins have been searched. Unless in a sealed mint roll but then they’re all the same. At $200 for 5000 that’s $.04 cents a coin. It’s tempting but I’d pass and spend my $200 on something else.

 

Id have to agree...today they are all searched Little story
40ish years ago I went to an estate auction.
The Kids of a guy who passed contracted the company to sell everything from floor to ceiling.
In a case were rolls of Indian head cents marked by the auction company...ONLY they weren't, they were some sort of gold peso (memory escapes the size)
After selling some in 2x2's for little money as they were telling us they were Indian heads.
My friend got at least 3 and put them in his car.
When the rolls came up after we stood in the Arizona sun for 5 hours...someone opened their mouth and queered the deal for everyone.
The auctioneer asked the people who bought the 2x2's to return them when they abruptly shut the auction down....none did.
That guy who spoke out...we politely spoke to and helped him to his car.
Its been 40 years...you would have thought I'd let that go

 

Let it go, not a chance. You don’t do anything but remember so what’s the problem?

 

At 5 cents apiece I would be a buyer. But the unsearched only goes so far. A local dealer buys the old partially filled whittmaan folders. He doesn't do anything but pull the key dates in the slots then pull the others out and throw them in a bag.
I he told me that these were all S mints and he filled the bag, I would trust him. Cause I have watched him do it.

Do you trust the dealer?

 

it's 4 cents each, if you like hunting and will hunt for varieties possibly, really pour over them, there is value there at a good enough price, but it's entertainment value. If there is actually 5000 wheat cents there, it's a decent buy, but again, it's a bunch of wheat cents, S mint what are there, 54 S mint wheats to get?, I mean, you'd have to get rid of them at some point and likely will take a loss on it, unless you have a thought to sell it somehow and make a buck or two, or if you are just looking to accumulate a big pile of common S wheat cents, which is the most likely result.

Just saying for $200, you can basically buy some similar condition examples for many wheat cents date/mm combos directly and skip the whole hunt and be happy with what you have without accumulating 5000 coins you don't really need.

coin collecting and investing rarely works out, and, there's cheaper ways to hoard copper/brass if that's your thing.

 

Many people don't seem to realize that "sorted" is not the same as "searched". If I have my nephew, who knows nothing about and has no interest in coins, go through a pile of wheat cents and toss all the S mint coins in a jar, the hoard has been sorted, it has not been searched.