Bulk wheats. Where should I buy?

Discussion in 'US Coins Forum' started by Kevin Dore, Aug 4, 2018.

  1. NOS

    NOS Former Coin Hoarder

    No, actually, I think it is a waste of time to go to a local coin dealer. The OP wants rolls with early dates and some Indians mixed in for good measure. These rolls will likely have some higher-grade examples mixed in them as well. Local coin dealers will most assuredly not have rolls like this. Local coin dealers will be likely to have rolls of circulated and common solid date coins or mixed coins that are all well circulated and from the 30's, 40's or 50's, for example.

    Additionally, the OP is doing this for fun just like I had fun doing ten years ago when I used to buy these kinds of rolls. Shipping is a small factor to consider with flat rate priority shipping. It is unfortunate most members on here are so opposed to the concept of buying rolls such as what the OP desires.
     
  2. Avatar

    Guest User Guest



    to hide this ad.
  3. Kevin Dore

    Kevin Dore Active Member

    When you used to buy these kind of rolls did you have many nice finds? Or was it very rarely they you got something that you were excited to find?
     
  4. imrich

    imrich Supporter! Supporter

    I don't know where the reported fantasy pricing is derived, which generally appears contrary to reliable sources as completed auctions, "grey sheet" pricing, etc.. In the 1960's I was buying fine condition rolls of 1940s-50s S-mint coins for 6-8 cents/coin. It appears that realistic market pricing reports indicate an average appreciation of 5%/year.

    Reported sales show common date circulated AG 1920s coins being sold for ~16 cents, if you could locate these uncommon offerings at suggested dealer wholesale pricing. We don't want to begin discussing teens and Indian cents.

    It would generally appear that some have found a treasure trove of circulated cents if their reports are correct. I believe that maybe some current collectors should inform the OP of their realistic general cent findings.

    I maybe be incorrect in my investigations, but I'm a bulk buyer from those who know of a source for their reported competitively priced cents.

    JMO
     
    Kevin Dore likes this.
  5. Kevin Dore

    Kevin Dore Active Member

    If you're worried that my expectations are too high I'd like to assure you that they are not. I know I threw out some numbers earlier that I said I'd be very happy about, but I don't expect that my actual finding will be as much. I know I'm paying a premium for these coins, and I've stated before why it is that I don't mind doing so. Because I know it is something I am going to enjoy going through and discovering what I have. As for competitive pricing, I know I'm not going to be able to purchase at dealer pricing since I'm not a dealer and I don't have those kind of connections. That being said, it would be good to know what I can find lots for as a collector. I'm trying to use the only avenues I have to learn this. I would also love to hear from other collectors what their findings have been with buying such lots. That is the one of the primary purposes of why I created this thread.
     
  6. ldhair

    ldhair Clean Supporter

    The days of finding unsearched rolls or bags, ended many years ago. I don't care where you buy, nobody sells coins that have not been searched.
    With that said, there is no reason a person can't have fun searching and building a set. I'm one of those other collectors you wanted to hear from. It's been fun for me for over 50 years. I have bought from ebay dealers, local shops and at coin shows with no difference in quality. It's all been fun.
     
    Kevin Dore likes this.
  7. Kevin Dore

    Kevin Dore Active Member

    Trust me I have no illusions about anything being unsearched. But I do have hopes that the last guy, or to be more specific everybody that has looked at the coin, has missed something that maybe I can catch, or that it is of some value to me where they found it worthless. I'm realistic though and I know the chances are rare to non existant to find something off great value. My hopes here are to find enough value plus experience plus enjoyment of the search to justify the cost.
     
  8. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    I’ll offer this as another perspective just so you can have something to think about. I am an older guy that has collected almost fifty years. I don’t look for errors or varieties. Don’t have the initiative or the eyesight... Now folks that are auctioning on EBay are generally younger and do have the initiative to pre-search these things. I posted a big jar of wheats earlier that belonged to an elderly friend of mine in my church that passed away. Many tens of thousands of wheats in that jar. They were sold to a dealer freind of mine. Now that dealer isn’t interested in making .025 cents on a coin. He bagged them and is selling them at .04 cents in 500 lot unsearched baggies...... All that said, if searching wheats gives you pleasure that is a totally cool thing. But it was suggested earlier that a dealer may be able to offer you a better deal on them and based on the scenario I just described, I believe a more lucrative search as well..... Just something to think about.
     
    Kevin Dore likes this.
  9. Kevin Dore

    Kevin Dore Active Member

    You are right that a local dealer may have a better deal. I've not much experience and I will definitely look into what they have to offer as well so I can have something to compare to. My only other thought on that other than the thoughts you pointed out already is that it is still possible that your elderly friend may have searched through those and sold anything of value. My point being that no matter where I purchase, my chances of finding a lot that is truly unsearched is unlikely. Probably not impossible though .I'm sure there are some very rare instances where they were all thrown in a jar by somebody that doesn't know the difference between a key dates and a common one. There only thing I've come across from a dealer so far was one that had a jar with a few hundred pennies that you were welcome to look through and pick the ones you want but they were asking 10c per coin. Definitely not what I'm looking for. But I will keep trying.
     
    Randy Abercrombie likes this.
  10. physics-fan3.14

    physics-fan3.14 You got any more of them.... prooflikes?

    If you really want truly unsearched Lots, you need to find estate sales. Look for really really old people who are selling everything they owned. They will sometimes have a big jar of old coins. Those have probably not been searched.
     
    Kevin Dore likes this.
  11. Kevin Dore

    Kevin Dore Active Member

    I go to lots of estate sales .Have yet to find anything yet but will keep trying. The only coins I've found have been some odd small collection and I've not seen anything less than retail. I'm sure the local coin dealers keep an eye out for these and snipe any good deals that are to be had
     
  12. NOS

    NOS Former Coin Hoarder

    I didn't find any keys or even semi-keys but I was okay with this as I wasn't expecting to. The Indians were nicer than expected. I found some that had full Liberty headbands on them. I found that 1917 and 1919 P cents were the most commonly encountered from the teens, which correlated to them both having the highest mintages from the decade.

    Also interesting with this is I found many of these 1917 and 1919 coins to be highly worn. This stood out to me because you just don't see worn cents like this at coin stores. I made the conclusion that these coins were likely removed from circulation in the 1960's or early 1970's and that coin stores filter these worn coins out from what is offered to the public. It is in that sense I enjoyed finding coins that weren't overly filtered and came more directly from original sources.

    Oh, and I did find wheats from the 1950's in a high grade of condition that still exhibited a nice level of mint luster.
     
    Kevin Dore likes this.
  13. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    I wish you the best in your search. It’s what makes collecting fun. There is quite literally something for everyone..... I had known my freind at church for many years. We talked Coins occasionally at church. But being different generations we never really sat down together over coins. When he passed his son asked me to help liquidate his fathers collection. Didn’t think much of it and was glad to help a freind. Then I got there. Holy smokes! That man wasn’t a collector. He was a genuine coin hoarder. Almost 900 walking halves. Thousands of Buffalo’s and Mercs. It was quite overwhelming actually..... The thing I discovered as I went about inventorying this estate was that the man literally kept everything. More than that though... He liked them shining. A lot! I found more Uber-polished coins in that mans safe. Just was what he liked doing I suppose. No doubt in my mind that a 1909-S, VDB had no more impact on him than any other common date wheat. And I would bet that may be more the case with previous generations. Folks that lived life knowing what doing without really meant. When times were good, they hoarded..... Yes, I would encourage you to keep seeking out estate sales and such. Previous generations tended to view this hobby differently than we do. And most of all.... Keep having fun with it.
     
    Kevin Dore likes this.
  14. Kevin Dore

    Kevin Dore Active Member

    I will keep looking at estate sales. My wife loves spending an entire day each Saturday that she can going to garage sales and estate sales and I often go with her when my work schedule allows. We don't go looking for coins but I'm always keeping an eye out. The problem I find with most estate sales in my area is that a lot of them are run by a company so you don't find many estate sales that are just run by the family. Usually it's several estates in one. The companies that run these have a good knowledge of value on everything they sell so most items are close to retail price. That being said, there are still great finds once in a while. Just a couple weeks ago I asked her to keep an eye out for a label maker I wanted for labeling my coin tubes. I thought maybe she'd find one worth about $20 old and beat up for $2. Instead she comes home one day with this extremely nice label maker barely used that she paid $7 for. I knew right away it was a gem so I went online and looked it up. This thing sells for $140 brand new!
     
    Randy Abercrombie likes this.
  15. ldhair

    ldhair Clean Supporter

    Remember to ask if there are any coins at sales. Most don't put them out where they can be seen.
     
  16. Kevin Dore

    Kevin Dore Active Member

    I actually never thought about that. Thank you. The ones I do see are usually in a jewelry display case at the checkout stand. Like I said, the majority of estate sales here aren't run by the family, it's a business that does then. I'm not sure if that's a common thing everywhere out of it's just a popular thing where I live.
     
  17. Michael K

    Michael K Well-Known Member

    I find that companies who run estate sales,
    buy up an entire house of stuff and then you are stuck with a flea market at higher than flea market prices. With none of the haggling.
     
  18. Kevin Dore

    Kevin Dore Active Member

    Couldn't have said it better myself.
     
  19. ldhair

    ldhair Clean Supporter

    A lot of times the family or the trustee of the estate will hire a company to liquidate everything. Sometimes that company has bought the contents of the home and they are willing to make deals. It can be different in many ways.

    I walk in and ask about coins first. Most of the time, I'm told that the family kept all the coins and jewelry.

    Next I ask if I can buy the house. Bought a few that way, just by asking. Most folks are too shy to ask questions.
     
    frankjg likes this.
  20. ldhair

    ldhair Clean Supporter

    At garage sales you are probably dealing with the owner of the stuff. Good chance that older folks will have a stash of wheat cents they might sell. I come right out and ask if they have any wheat cents they want to get rid of, in a very friendly way.
    You just never know what you might find.
     
    Kevin Dore likes this.
  21. Kevin Dore

    Kevin Dore Active Member

    This is something I've never thought of. I'm sure that there are people out there that just throw a bunch of stuff and don't even think about pulling that old jar or of the closet because it's been sitting there for 10 years or more untouched. I think that's some really good advice.
     
Draft saved Draft deleted

Share This Page