Realcent.org

Last Saturday I visited a small town nearby. I saw a poster advertising an estate auction. I went there. I was three hours late from the 9 am start. There were a rather large amount of coins. I found out that credit cards were accepted. I've never been to an estate auction before. Pitchers, plates, old signs seemed to be of significant interest.

The collector (estate), for example, had folders of pennies, about ten folders of 1941-1974 pennies. I looked at five or six. All holes were filled. The steel cents didn't look great. Some of the other pennies were not great. Only one man bid on those. He got all for $5 apiece. (Actually, I think one person did bid against him to take the bid from $4 to $5.)

How much were they worth?

It depends on the condition of the coins.
$5 sounds like a decent price from your description.
Check ebay for completed listings and you can see the range in prices.
http://www.ebay.com/itm/1941-1974-PDS-C ... 20f6a58484

$5 isn't awful, but it's about 2.5 times the max I would pay (especially if the auction charges an additional buyer's premium). If people are willing to pay $5/each for these, then I may start putting them together hand over fist lol.

KeepStacking wrote:$5 isn't awful, but it's about 2.5 times the max I would pay (especially if the auction charges an additional buyer's premium). If people are willing to pay $5/each for these, then I may start putting them together hand over fist lol.

KSA's every month,
Put up or shut up!

Considering the albums would cost about $4 each retail plus the value of the pennies seems like a fine deal, nobody getting rich on those though

RichardPenny43 wrote:

KeepStacking wrote:$5 isn't awful, but it's about 2.5 times the max I would pay (especially if the auction charges an additional buyer's premium). If people are willing to pay $5/each for these, then I may start putting them together hand over fist lol.

KSA's every month,
Put up or shut up!

Ha...if only time (and honestly my eyes) allowed me to do this, I would. But the time to sort and put the pennies into the folders makes it not worthwhile. If I was retired, I would be all over it.

Cost of used folders = anywhere from free to $0.50 at local coin shops or even thrift shops
Cost of pennies going in = face value

The cost is minimal, but the time is the issue right now.

Total cents in album

1941 & 1942 P,D,S
1943 P,D,S steel
1944 -1955 P,D,S
1956 -1964 P,D
1965 -1967 P
1968 -1974 P,D,S

87 cents! (84 copper, 3 steel) (51 wheat backs, 36 memorial)

Look for...
1944 D over S
1955 P Double Die
1960 P Small date
1970 P Small date high 7
1972 P DDO

51 wheat's say $.03 each = $1.53
36 memorial's $.02 copper = $.72

I would have bought them!

KeepStacking wrote:Ha...if only time (and honestly my eyes) allowed me to do this, I would. But the time to sort and put the pennies into the folders makes it not worthwhile. If I was retired, I would be all over it.

Cost of used folders = anywhere from free to $0.50 at local coin shops or even thrift shops
Cost of pennies going in = face value

The cost is minimal, but the time is the issue right now.

Exactly, a lot of people would pay just so they wouldn't have to spend their time.

P.S.
Don't be offended by my posts, I'm usually just being a smart ass!

There was an interesting "dynamic" (or "dynamics") at the auction, which is probably true at most auctions. I don't have expertise at this and have not been drawn to auctions.

For example: The coins were toward the last separated into an auction for coins only while the other auction went on. A small group gathered around the auctioneer. We sat down before the auctioneer came to the table. It just so happened I sat next to where the auctioneer sat. I looked through boxes of nickels while he auctioned off other coins. There were boxes of old nickels, about 8 boxes. All were about full boxes except one half full. These boxes were about 2-1/2 x 2-1/2 x 8 inches. This is just a guess on size. The nickels were mostly from 1945 or prior. No war nickels were obvious, though there may have been some if you looked closer. Most were not buffalo nickels. Most or all were in pretty good shape. I didn't see any overly worn coins. I did not bid on any of these. The same man who bought the penny folders bought many of these boxes of nickels. I can't remember what he bid. I don't think over $15. I was looking at other coins by then.

As far as the folders of pennies: These were bid on in the "regular" auction. I think the auctioneer started at $4 per folder. I think only two people bid on these. One man took the bid to $5 for a folder. The auctioneer then asked the man how many folders he wanted. He took them all. I could have bid, but that would have taken the bid to $6, eventually to $7 or more. If I had known this I could have bid to $6 or $7 and bought only two or three if I so chose.

One man told me that this auction company has had other auctions like this and he has gotten good deals. I'll be waiting, but I am busy with other things.