So, I'm going through a lot of my old collection from my childhood and trying to downsize and reinvest into a handful of nicer pieces. I've reached that point where I would rather have 25 nice coins than 1000 junky ones. One thing that I have found is...I have a number (probably 40-50) of low grade Indian Head Cents. A few are cleaned and a few others damaged...but the majority are simply low grade coins. Many very common dates, no rare dates but a few 1880s...so not the most common. I would say a couple dollars each at best. I don't really think it is worth the time to photograph each one individually and try to sell them as singles. Sure, I might make a few more dollars (literally) if they all sell...but I feel like something like this is better/easier sold in lots of 10 coins or so. Again, I might not maximize profits, but I think it would be a whole heck of a lot easier. Any thoughts? What my goal is...I'd like to try and sell down the bulk of my collection and reinvest it into a few nicer pieces. The flip side of it is this. My guess is, I might be able to sell all my "junky" coins for a few hundred dollars. That might buy me a couple nicer coins...give or take. The other option is...do I save them for my two sons who might one day get their own interest (if not I could always sell them then). I could also keep a handful for them and sell the rest. Thoughts? Also, I have a canvas bag of old, dirty, junky wheat back cents. I mean, these are the filthiest, grungiest wheaties you've ever seen. My bathroom scale says it's 13.4 pounds. The truth is, I won it in a contest here years ago and never did anything with it. I started to search through it but they coins were so beat up I decided it wasn't worth it. What would be the best way to get rid of them? Part of me is tempted just to take it to the bank...but I don't know if that is a good plan. Based on the weight, it's probably $19 in cents or so.
Put the old Wheaties in a glass wine jug and save them for your sons......they may have an interest in them in the future. Also, into the mix, add some of those ugo Indian Heads. Salt the jug away and hope for the best. I agree that culling out the mass and buying a few more valuable examples is the best policy. If only I could get off my duff......
I agree. Group 'em up, take a quick snap of the whole group, flip 'em over, and list 'em somewhere. Or, donate them to a local coin club or something. I would totally rather have 25 nice coins than 2500 junky ones, too. Are you literally going to do something like a "box of 20"?
Use the 10% rule that is advised when saving treasures the little ones make or bring home from school. Of your junk coins, pull out 10% and make the rest go away. Do it again in 5 years if the kids show no interest. If they later become interested, post a WTB for a small flat rate full of mixed wheat cents. 12 pounds of wheat cents will fit into a Regional A box or medium flat rate. If someone will pay 2c each, shipped, you might come out ahead. If there's a B&M or show nearby where you can get that, go for it. The thing is, you'll come out only a few bucks ahead for all your trouble and they'd sit in a bag in the corner of someone else's closet. Now imagine what would happen if you were to take them to the bank. They'll get counted, rolled, and enter circulation, where a bunch of cashiers and customers will have the opportunity to notice that all those pennies are 60, 70, maybe 80 years old. Some will simply pass them along, but perhaps a couple keep them, give them to kids who will say "cool," and eventually end up at a coin show looking for more information and more coins. Seems worth the $10 downside of not selling them into someone else's junk pile.
If you have little kids, I would save at least some of them. That's how I got started, and I suspect many other collectors here began this way as well.
Actually - just take them to the local shop and get a few cents each for them. If you want to do a quick search through them and pull out any nice ones. Then buy something nice to save for the youngin's.
