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What would you pay for a completed set of Wheat Pennies?
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<p>[QUOTE="beef1020, post: 2199024, member: 24544"]Ok, so here is my best guess at giving you a dollar figure. I'll be honest, I have no idea why you would take my advice as I have never done what you are asking and have no experience with it, but here goes.</p><p><br /></p><p>If the set includes all coins in g4, Price from retail portion of numismedia.com</p><p>1909 s: $75 in g4</p><p>1909 s vdb : $680</p><p>1911 s : $25</p><p>1914 d: $150</p><p>1922: $575</p><p><br /></p><p>Sold on ebay as acutal prices:</p><p><br /></p><p>1909 s: f12 PCGS on ebay sold for $76</p><p>1909 s vdb: NGC f12 on ebay sold for $585</p><p>1911 s: raw but probably vf sold for $23 on ebay</p><p>1914 d: NGC vg10 sold on ebay for $169</p><p>1922 no d weak reverse NGC10 sold for $300 on ebay</p><p>1922 no d strong reverse NGC10 sold for $695</p><p><br /></p><p>All the other coins in the full set I do not think would add any value. The market for selling this as a complete set would be other people looking to buy it, pull out the key dates and resell for a profit. There is almost no collector appeal to buying a complete set, it's just not what people like to do. The fun of collecting is chasing the coins, filling the holes, and taking the time to do it as a hobby. Compete sets are only bought by people looking to resell for a profit. Group lots always go for less than selling each coin individually.</p><p><br /></p><p>So basically, numismedia in g4 totals $1505. If I were to seriously try to buy these raw in g4, I think this value is probably 50% too high, if you actually tried to sell them on ebay as raw coins I think you may get $750. So to make it worth my time to flip these, I would want to be into all those coins for 50% of that, or $375. But I would only try to do this if I was an expert on the series and grading, which I'm not, so I would not buy a raw g4 set of Lincolns for any amount of money.</p><p><br /></p><p>Now to the graded versions. If you have some expertise in identifying genuine examples of those coins, as there are a ton of fakes, and you can grade extremely accurately, then you could buy those coins raw, grade them, and sell them on ebay. That vg10ish set sold for $1153 (weak reverse) or $1548 (strong reverse).</p><p><br /></p><p>So, 6 coins which you would have to get graded to realize those prices would run you around $300 in grading fees. Assuming you did not get burned on authenticity/grade/details and all coins graded cleanly at the grade you expected, you would have $1548 - $300 in value, so $1248. Again, I would want to be into these for 50% of that, so I would buy them for $642.</p><p><br /></p><p>So, to answer your question, I would only buy your complete set to flip these. So I would be looking to buy the compete set (strong reverse 1922 no d) with those keys graded at vg10 for around $774(50% of $1548). I would have no interest in raw coins, and I would only be interested in the set so that I could sell the keys and make money.</p><p><br /></p><p>You may ask why I choose 50%, that is just my line for buying coins to resell. I figure I'm out 15% to 20% on fees when I sell which leaves me with 30% profit margin. That is enough wiggle room for me when I purchase with the intent of selling in an area where I know what I'm doing. </p><p><br /></p><p>The reality is, the only way to know how much to pay for this is to do it yourself and learn. However, as everyone else in this thread has told you, If I were trying to make money on Lincoln cents I would not try to put together a complete set for re-sale, in fact I would do the opposite and look for complete sets that I could pull apart for re-sale. The market for complete sets is almost non-existent, and any interest would come from people looking to profit off your sale. As a dealer, you have to find a way to buy coins from people not interested in the profit and sell to people not interested in the profit, which is exactly the opposite of building a complete set and selling it as a complete set. You are getting such negative responses because your approach to making money on Lincolns runs exactly counter to how most people would try to profit off coins.[/QUOTE]</p><p><br /></p>
[QUOTE="beef1020, post: 2199024, member: 24544"]Ok, so here is my best guess at giving you a dollar figure. I'll be honest, I have no idea why you would take my advice as I have never done what you are asking and have no experience with it, but here goes. If the set includes all coins in g4, Price from retail portion of numismedia.com 1909 s: $75 in g4 1909 s vdb : $680 1911 s : $25 1914 d: $150 1922: $575 Sold on ebay as acutal prices: 1909 s: f12 PCGS on ebay sold for $76 1909 s vdb: NGC f12 on ebay sold for $585 1911 s: raw but probably vf sold for $23 on ebay 1914 d: NGC vg10 sold on ebay for $169 1922 no d weak reverse NGC10 sold for $300 on ebay 1922 no d strong reverse NGC10 sold for $695 All the other coins in the full set I do not think would add any value. The market for selling this as a complete set would be other people looking to buy it, pull out the key dates and resell for a profit. There is almost no collector appeal to buying a complete set, it's just not what people like to do. The fun of collecting is chasing the coins, filling the holes, and taking the time to do it as a hobby. Compete sets are only bought by people looking to resell for a profit. Group lots always go for less than selling each coin individually. So basically, numismedia in g4 totals $1505. If I were to seriously try to buy these raw in g4, I think this value is probably 50% too high, if you actually tried to sell them on ebay as raw coins I think you may get $750. So to make it worth my time to flip these, I would want to be into all those coins for 50% of that, or $375. But I would only try to do this if I was an expert on the series and grading, which I'm not, so I would not buy a raw g4 set of Lincolns for any amount of money. Now to the graded versions. If you have some expertise in identifying genuine examples of those coins, as there are a ton of fakes, and you can grade extremely accurately, then you could buy those coins raw, grade them, and sell them on ebay. That vg10ish set sold for $1153 (weak reverse) or $1548 (strong reverse). So, 6 coins which you would have to get graded to realize those prices would run you around $300 in grading fees. Assuming you did not get burned on authenticity/grade/details and all coins graded cleanly at the grade you expected, you would have $1548 - $300 in value, so $1248. Again, I would want to be into these for 50% of that, so I would buy them for $642. So, to answer your question, I would only buy your complete set to flip these. So I would be looking to buy the compete set (strong reverse 1922 no d) with those keys graded at vg10 for around $774(50% of $1548). I would have no interest in raw coins, and I would only be interested in the set so that I could sell the keys and make money. You may ask why I choose 50%, that is just my line for buying coins to resell. I figure I'm out 15% to 20% on fees when I sell which leaves me with 30% profit margin. That is enough wiggle room for me when I purchase with the intent of selling in an area where I know what I'm doing. The reality is, the only way to know how much to pay for this is to do it yourself and learn. However, as everyone else in this thread has told you, If I were trying to make money on Lincoln cents I would not try to put together a complete set for re-sale, in fact I would do the opposite and look for complete sets that I could pull apart for re-sale. The market for complete sets is almost non-existent, and any interest would come from people looking to profit off your sale. As a dealer, you have to find a way to buy coins from people not interested in the profit and sell to people not interested in the profit, which is exactly the opposite of building a complete set and selling it as a complete set. You are getting such negative responses because your approach to making money on Lincolns runs exactly counter to how most people would try to profit off coins.[/QUOTE]
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