58 POUNDS OF WHEAT PENNIES

hi there


this might be the wrong section, but my grandpa just passed away and i received 58 pounds of wheat pennies (yes they are all wheat) i know they are all wheat because just pulled out random handfuls and they were all wheat.

my question.........

How much do you think 58 pounds would sell for?

thanks

 

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first off, im sorry for your loss. second, holy crap. i have no clue how much they would go for but 58 lbs of copper on average would be around $116. try getting a counting machine to see if they are worth more in face value. just remember that there are certain dates that are harder to find than others. good luck

 

okay thanks yeah like 1909 s vdb 1914d 1922 no d 1943 copper etc..i think its about 7000 pennies could be wrong i just dont know if i have time to go thru all them but thanks for reply "()

 

Copper has nothing to do with it.
You aren't allowed to melt cents, and if you could, you only realize 25% of
the spot price for grade A copper, which cents are not. They are alloyed.
58 pounds x 146= 8468 x .03 = $254.04
So your bottom would be $250 of course if you are claiming these are unsearched (w/e) then you will try to get more.

 

i suggest that you check the dates and look for any 1943 copper pennies. it will take a long time, but if you find one it can get you a lot of money

 

very good info but if i didnt melt them and sold them on lets say ebay you think would get 254 bucks?

 

oh. ok thanks for clarifying that for me

 

Most coin shops will pay $0.02 to $0.03 cents each unsearched. If 7,000 coins, $140.00 @ 2 cents, $210.00 @ 3 cents. A collector might offer $0.05 each, since there might be a couple semi key dates needed for their collection. The fun is going through them and pulling good dates and filling coin albums.

 

254 bucks would be a steal for a steal for a true Lincoln collector.

 

They sell for about 1.5 to two cent a piece wholesale to most dealers. With 145 cents in a pound, you have approximately 8,410 cents or $126.15 to $168.20 wholesale. You can do better selling individual rolls on eBay.

 

I helped a friend liquidate his fathers collection not long ago. He had a giant jar of wheats that we had to move by hand truck. Dealer weighed them and paid what amounted to just under .03 cents each for them.

 

As others have said, 2-3 is the norm. If you have the time, I would recommend going through and picking out any key/semi-key dates, and any coins in really good shape. If you’re ok with spending a few bucks, I would recommend picking up a copy of the Red Book. If not, PCGS CoinFacts app is a free alternative. Let us know if you find anything and I’m sure some of us could help you with a value. You might even bee able to sell them here.

 

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Your chance of a copper 43 is less than hitting PowerBall for 1.5 Billion.

 

Attention, @schepys_coins

 

great! thank you all so much for the help.. I am going to make a new thread on this in "error section" but just found a 1955 weighs 2.57 grams diameter is HALF of a regular wheat penny and when u drop it it sounds diferent not sure what it is

 

Need a picture please.

 

https://www.cointalk.com/threads/1955-wheat-penny-2-57-grams.329033/


just made thread will post pic there

 

Please post a picture of each Cent..
Obverse and Reverse sides.

 

ot like
Take the time and go through them for numismatic value and pull nominal or better pieces, then lot the rest on EBAY. You could say they are 'unsearched' but would be dishonest I suppose. Not like people wouldn't do it to you so I wouldn't feel bad about the latter part. Just my opinion.