I recently inherited about 2000 or so wheat pennies. I've gone through most of them and put the ones I was missing in my book. Some older teens and 09s no vdb or S but still a good assortment. My question is. I don't need all these extras. I know people on ebay and online put them into tubes but claim unsearched. I don't want to be misleading I've looked through most and they're mostly 30s 40s and 50s. But I don't keep extras so there are some 10s and 20s, any recommendations of how I should price and how I should sell? Thank you in advance.
A couple years back I helped a friend liquidate his late fathers collection and he had a large glass jar full of wheats. The jar was so heavy that I had to move it with a hand truck. We carried them down to my local dealer buddy who weighed them, did the arithmetic and paid what amounted to about three and a half cents each for them. He scooped them into baggies and sold them that way. Never searched a single cent.... But I believe .03-.05 each is about the going rate for common wheats.
For individuals perhaps, but in bulk it would be a tough sell even at 2 cents each. I would do 1.5 cents each if I was buying. Wheat cents are more trouble than they are worth.
@Minanius, as you can see, you've already heard from the majority of us who would actually have experience in liquidating a collection/accumulation. The rest of us consider a coin trove more valuable than oxygen, even if it's just used as ballast. However, based on your self-admitted circumstances, I think your best option would be to take them to a coin shop & sell them in bulk; you should then be able to convert the proceeds into a pretty nice steak dinner! (I say steak because we're coin people, not vegans .) JMHO
A few years back I sold 5000+ wheaties to my LCS. I had then sorted by decade. I recall getting .05 each for the teens, all the way down to .03 for the 40's and 50's. Of course I had gone through the lot to weed out semi keys and anything that I thought was worth more (like early S and D mint).
Seems like a lot of common wheats don't trade for much over melt. A lot of 40s and 50s wheats are basically rolls of general copper pennies, but you can manage to sell them to individuals for more than at an LCS. As long as you've sorted out the pre-33 D's and S's, you should be good to go on selling them. My advice is to find out how much someone would give you for a roll as compared to what a shop would give you.
