Pricing Wheat Cents

[DirtyFingers]

Fellas and Gals, I need your good advice about giving a fair price for common date 40's and 50's Wheat cents. A friend of mine asked me to sort thru a small tub full (13"x9"x5") of Lincoln cents that she had been stashing for 50+ years and keep what I want (I want all of them) and to just give her "what I thought it is worth." I started sorting last night and so far I've pulled out 1,050 Wheats with a third of the tub to go. The rest of the cents are pre-82's so I will give her face for them.

What do I give her for the Wheats? I've never sold or bought cents before, just the pay for face that I get at the bank. There are quite a few of them that are in really good AU condition. I've been hoping to run into some pre-40's Wheats but so far nothing but 40's-50's.

Any advice you have to give me would be deeply appreciated. Thanks folks!

DirtyFingers

[AGCoinHunter]

I would say they are worth between 3 to 5 cents each for circulated common wheats. Uncirculated ones might get up to $1 if they are high end but very doubtful there are any of those. I am no expert, this is just what I have observed.

[wagsthadog]

Hi there-

Are you buying them as an investment, or to resell?

If it was just an unknown party, and I was buying them to "flip," I'd offer 2.5-3 cents each. But, if it's a buddy, definitely 4-5 cents each. Bulk bags of 5000 wheats typically get 4 cents each all day long.

wags

[DirtyFingers]

Hi there-

Are you buying them as an investment, or to resell?

If it was just an unknown party, and I was buying them to "flip," I'd offer 2.5-3 cents each. But, if it's a buddy, definitely 4-5 cents each. Bulk bags of 5000 wheats typically get 4 cents each all day long.

wags

Wags, I'm throwing them in with the rest of the Wheats I have stashed and then I'll probably have to be reminded later on that I have them. I'll probably give them to my grandkids someday.

A sidenote: My friend was going to take them to the bank if I didn't take them. Somebody would have been in Wheatie heaven if she had of.

[TheJonasCollegeFund]

Since you are buying from a friend....the right thing to do is call your local coin shop and see what they are paying for the wheats. Give your friend that price. Right is right and friends are friends! I have 2 local shops that I visit here. One pays 3 cents per decent shape wheat...the other pays 3.5 cents on any wheat. You take care of your friends because you never know...they may run into more coins or know someone who is gettin rid of some coins.....you never know....it's KARMA!

[fasteddy]

strange....i dont make money off of my friends and they dont either. But on the other hand generosity is nice.

[bman]

I would offer 3 cents per wheat for common dates and price any better ones individually.

[Market Harmony]

Unless you like sorting through the whole tub, and have a bit of OCD, then just weigh the tub and calculate the number of total cents. Then figure on a percentage of the total that are wheats and agree with your friend for a fair offer.

[DirtyFingers]

Since you are buying from a friend....the right thing to do is call your local coin shop and see what they are paying for the wheats. Give your friend that price. Right is right and friends are friends! I have 2 local shops that I visit here. One pays 3 cents per decent shape wheat...the other pays 3.5 cents on any wheat. You take care of your friends because you never know...they may run into more coins or know someone who is gettin rid of some coins.....you never know....it's KARMA!

You're right, TJCF. That karma thing can work for or against you. I'm stopping in my coin shop tomorrow and I'll ask him what he is paying. That's a good idea, thanks much!

It seems like most everyone is suggesting a 3-4¢ range per wheat. I'll see what the coin shop says and bman's suggestion of pricing some of the better grades alittle higher is also a good and fair idea. This lady knows absolutely nothing about coins and I want to do this with a clear conscious.

Thanks for everyone's input. I really appreciate it.

DF

[DirtyFingers]

Unless you like sorting through the whole tub, and have a bit of OCD, then just weigh the tub and calculate the number of total cents. Then figure on a percentage of the total that are wheats and agree with your friend for a fair offer.

MH, I thought about using your suggestion but I'm almost done sorting. If there's ever a next time I will try using your idea.

DF

[Dave]

If she was just going to turn them in to the bank for FV, then give her FV plus 2 cents per wheat cent. You did the work and a favor to her.

[Lemon Thrower]

i can buy plenty of wheats at 4 cents, and they often dont sell. if they are 40s and 50s, i would pay 3 or 3.5 cents to a friend.

[abe]

If she was gonna take em to the bank anyhow just save her the trip.