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Anyone have an idea of the going rates of different years of wheats go for?
Had a guy buy a few bags of commons and he asked me what I wanted for the others. Told him I'd get back to him.
This is how I have them sorted.
10s
20s
30s
S's
Steels and 55's.
Any help is appreciated!
Thanks
Derek

My latest purchase of Wheaties was teens with mint marks for 50 cent per coin. They were mostly 17 18 & 19, but included a few earlier

I know a dealer who pays the following for rolls.

Teens $7
20’s. $3.50
30’s. $2
S-mints $2
Steels $4.50 (no rust)
55-S. $4

He sells 55-S rolls for $6.50, so you can use that as a guide for the others.

Wow, I need to find a different LCS. The guy at the closest place (45min from my house) is a cheapskate. I saw him offer 2x each for a bag of wheat pennies, I wanted to take the other customer outside and negotiate myself. Is this just because they weren't sorted and would take the LCS time? Or is it because he has a monopoly on the area since the next coin store is another 35min away. The place smells bad and is filled with empty boxes of all sorts of stuff: MTG, photography, coin accessories.

Sorry for the rant. Thanks for giving me a better perspective of what these wheaties are actually worth!

TitusFable wrote:Wow, I need to find a different LCS. The guy at the closest place (45min from my house) is a cheapskate. I saw him offer 2x each for a bag of wheat pennies, I wanted to take the other customer outside and negotiate myself. Is this just because they weren't sorted and would take the LCS time? Or is it because he has a monopoly on the area since the next coin store is another 35min away. The place smells bad and is filled with empty boxes of all sorts of stuff: MTG, photography, coin accessories.

Sorry for the rant. Thanks for giving me a better perspective of what these wheaties are actually worth!

Coin dealers have to buy as low as possible in order to make a profit selling as high as possible. Sometimes they go into overkill and abuse that concept. It sounds like your LCS dealer is one of them. (YES make a counter offer next time!) Keep doing what you are doing. Shop around. Online. That is where coin dealers have to compete the most. There are several coin dealers here at RS with good reputations.

There is a LCS here in Tulsa where you can buy a bag of 5,000 Wheaties for $250. That is 5 cents each. There are no guarantees as to what years are in the bag. Just Wheaties. Never saw anyone buy them. They are so dusty they look like they were stored in a barn, but they keep bringing them in and moving them. Offering 2x for Wheat pennies is way out of line.

Sheikh_yer_Bu'Tay wrote: Offering 2x for Wheat pennies is way out of line.

It depends on how you look at it. If you feel the market is dead right now or you have coins you've sat on for a long time without selling, that may be a way of saying "I really don't want to buy anymore right now. I'm up to my gills in wheaties."

That said, it shouldn't be too hard to get more than 2x face. You might try going to a coin show when there is one near you.

Recyclersteve wrote:

Sheikh_yer_Bu'Tay wrote: Offering 2x for Wheat pennies is way out of line.

It depends on how you look at it. If you feel the market is dead right now or you have coins you've sat on for a long time without selling, that may be a way of saying "I really don't want to buy anymore right now. I'm up to my gills in wheaties."

That said, it shouldn't be too hard to get more than 2x face. You might try going to a coin show when there is one near you.

Good point.

A dealership I buy bulk 90% from occasionally recently lowered their buy price from .03 to .02. I asked them if it was because I was looking to sell some and he replied they had a glut of them. I did find another dealer to buy at .03 and sold him 10 bags. I went back the following month with 5 more and he instantly passed saying his buyer was full for a bit. Sold them to another guy I've dealt with I the past for .03 but threw in a couple of cheap things I wanted to dump so both were happy
D

I just spoke with a local dealer today that I've known for many years. He said he buys wheats for 2 cents each and sells them for 3 cents each. Also, he said he has plenty on hand.

That same dealer has a large copper tub full of copper pennies (maybe 150-200# or so) from 1959-1981 (no 1982's included). He says the pennies in the tub are NOT for sale.

So, is he a copper buyer or just not a seller?

Deal

He buys and sells wheats, but is saving the Lincoln Memorial coppers.