Slight Dilemma

[Dinero2005]

I have a slight dilemma and would appreciate some input. I only started sorting cents recently as a hobby/investment. I haven't fully decided hold the copper for long term investment, sell for short term gains or both. The short term gains seem minimal unless dealing in large volume like I see many on here doing. I'm not in a position to invest the time/money necessary for that but I had an opportunity come up yesterday and my in-law's annual Christmas dinner.

I found out my wife's uncle is a collector and wants to purchase all of the copper cents I can get him. He's putting together a solid roll of every year and mint from 1900-1981. He'll certainly pay whatever I ask but I don't want to take advantage of him because he's family. I feel like a fair price for the copper cents is about $2.54/lb based on what I can find on ebay but I have no idea what to sell the wheats for.

Here's my dilemma. I only have about 70 so. I don't see anything special in them with the oldest being 1920. What's a fair price for some average condition wheats? Thanks.

[baggerman]

Let me start by saying I only hoard and have NEVER sold ANY TYPE of metal I may hold I think common date wheats are probably worth .04-.05 cents each.

[Dinero2005]

Let me start by saying I only hoard and have NEVER sold ANY TYPE of metal I may hold I think common date wheats are probably worth .04-.05 cents each.

Thanks. That's what I was looking for.

I'm leaning toward maybe a combination of both selling/hoarding. If I can sell some and use the gain to pay for my hoard I'm okay with that. Well, at least so far I can use it to pay for my homemade sorter and down the road a ryedale. Regardless I'm going to have to pump up my volume from 2-3 bags/week to 5-6 maybe. Assuming 22% copper/bag I figure I could hoard 2-3 bags/week and let somebody else pay for it.

[ed_vantage17]

It really depends on what your goals are. For me I like a 20%-30% return on a two week investment. The time I spend on it is a non-factor for me because it's mostly done on my "spare" time anyways. Sort/hoard is a viable strategy, as long as you don't plan on moving your hoard before you decide to liquidate. Pennies are heavy. As for as not wanting to "take advantage" of family, if he's happy with the deal, you've done nothing wrong in my eyes.

Ferengi rule of acquisition #6: Never allow family to stand in the way of opportunity.

[TXBullion]

Common date wheats are 3-4 cents each

[Diggin4copper]

ahh, the rules of aquisition! Love em! # 13- anything worth doing is worth doing for money.