Did buying wheat pennies just get harder?

[palmvtree]

I was bidding on 2 seperate lots on Ebay recently for wheat pennies and the price they went for was just insane! I am not talking about the "unsearched" or "the end of my roll has" bull$#!^ ... seriously I can tell the end of your roll has been rerolled by hand and is a rip off! What collector would ever sell an unsearched roll of indian head or wheat cents without looking (and who is buying this BS?) I apologize if I offended anyone on realcent who has bought or god forbid is selling these items.

I am talking about a few lots of 1000 or so pennies that went for almost $105 plus $10 for shipping and $132.5 plus $13 for shipping....is the going rate 10 to 15 cents a wheat now on ebay? If so, how many of you are selling? There was no advertising for special coins other then the fact that it is coins from an unclaimed property facility ...

Should I expect to pay a premium for legit wheat error possibilities or is someone just blowing way too much. Attached is the "description of the item"

"This auction is for nine hundred and seventy-three (973) pennies. Based on an inspection by a certified appraiser, these items are described as: Nine hundred and seventy-three (973) Lincoln Wheat pennies, with dates ranging from 1912 to 1958. These coins are in “circulated” condition and are not in consecutive order. Some of these coins have various mint marks and or partial dates. No key dates are included. A few of these coins may have corrosion, have been cleaned, are scratched and heavily pitted, are damaged or missing part of the rim.
This auction is for one thousand (1,000) pennies. Based on an inspection by a certified appraiser, these items are described as: One thousand (1,000) Lincoln Wheat pennies, with dates ranging from 1911 to 1958. These coins are in "circulated" condition and are not in consecutive order. Some of these coins have various mint marks, partial dates. A few coins have discoloration and corrosion, are damaged, heavily pitted or scratched."

[NDFarmer]

I just had an auction here on Realcent for a bag of 5000 wheats. I only got $180.00 shipped. But then when I list items here or on Ebay I always make the mistake of telling the truth about the item I am selling.

People are constantly falling for the old "unsearched" wheats on Ebay. There are no such thing as unsearced wheats. Just the fact that they are separated from circulation means they have been searched. I doubt if you find a 14-D or an 09-S VDB you are going to throw it in the pile with the other common date wheats that you have found.

In the descriptions you mentioned the seller is saying that these coins are just a notch above culls with several of them BEING culls and NO KEY DATES. So in this case I don't feel sorry for the buyer. But I agree with you I sure don't understand why you would bid that much for a bunch of poor quality coins.

[highroller4321]

Just advertise that you want to buy wheats on here. You can buy searched and truely unsearched from individuls here, like myself and NDfarmer. I bet you will be much happier and get better prices than on the bay.

[palmvtree]

thanks highroller. Just looking for more wheats for my 6 year old son and I to go through, fill up his coin books, and just save for a rainy day as the boxes we have searched lately are coming up a lot shorter (5 to 10 per box). I think someone in our area may have invested in a Ryedale or two or just the whole price of copper has attracted a ton more "collectors". So is the going rate .05 to .07 cents per wheat for most part? I figure anything under .08 since the "Coin Vault" show is selling them at that price which is usually a bit of a rip off ... I have to admit though, it is fun to listen to in the background while I hand sort and is somewhat educational at some points. (they also say unsearched but when I bought some about 5 years ago , they were neatly packed by decade in small ziploc bags) hmmmm ?

[NDFarmer]

So is the going rate .05 to .07 cents per wheat

If they are all common dates .04 cents a piece or $200.00 for a bag is about the going rate. If there are some coins in the bag before 1940 then .05 a piece or $250.00 a bag is good price. But if you go any higher than that so you are paying $300.00 to $350.00 for a bag then there should be quite a large percentage before 1940.