Is this a deal I should take?

[michindi]

I found somebody who has about 100,000 pennies that he is willing to sell. The only problem is that he is not sure how many cooper or wheat pennies he has and almost all of them are in rolls. He wants to do $200 for the first 20k. Im new to this whole thing and doing this for my kids and a little for myself.

[michindi]

BTW he says he was collecting them b4 1972.

[mcsusanquilts]

You would be paying face value for the pennies. You would pay the same price at the bank.

[NotABigDeal]

So what's the issue? Buy them all as they are all copper if before '72. $200 for 20,000 copper cents, that's face....

Deal

[dakota1955]

can't lose at fv

[Hawkeye]

I'd jump on it. Anytime you can get a collection that's probably mostly copper for face value, I'd do it.

[HoardCopperByTheTon]

Have him sort and reroll the entire hoard by composition.. then buy it!

[misteroman]

Dealy,
Sell me all your yucky 1972-1982 pennies so they aren't in your way

[michindi]

Ok I am meeting the guy on Friday so I will let you know how the hunt goes.

[justoneguy]

when you are satisfied that you made a great deal,
flip him an extra $20.
it will keep him thinking about you,
you can never tell what else he or his freinds have.

[michindi]

The thing is that this is only the start. He has a total of 100k and he said after the first 20k to come back and tell him what i want to pay for the rest. This may be a good start for me.

[bman]

I would suggest doing the 20k deal at face value then after you sort through them you could offer any additional payment depending on what you find. then proceed the same way for each batch, I would NOT make an offer on the whole lot based on what you find in the first batch, that could be the oldest batch and the remaining coins could be mostly zinc.

[slickeast]

See if he will sell all at face . 100K is only $1000.00.

[NotABigDeal]

Dealy,
Sell me all your yucky 1972-1982 pennies so they aren't in your way

They're not in my way. I just throw them in the back yard with the rest of the coppers....

Deal

[Rosco]

Face is Fair and then an extra cent for Wheats,in later batches. BUT I agree do it on $200 dollar BATCHES, you ARE DOING THE SORTING
Do you have a Ryedale yet

If you hand sort They really are only worth face, plus your savings on gas.

You still need to dump the Zinc

[michindi]

I really hate Gmail. For some reason after a few days gmail always deletes emails so now I have no way on contacting him. So now I found another guy selling on ebay and he is local to me and is looking for $225 for 5k. Im pretty sure this is a little high. Any advice? I will be doing the hand sorting with my kids and I do not have a ryedale yet.

I was soo looking forward to picking these up and no im lost.

[Rosco]

He is WAY high 5,000 is = to $50.00 face. you can some times get bags of $50 from bank to sort.

[fasteddy]

225 is not bad/great either, if they are all wheats....but if a mix...offer $1.60 lb. If you want unsorted pennies we can help...and so can a bank.

[michindi]

I would like to get an unsearched bag of wheats of about 5000. But now i am kinda spoiled with that deal I could have had. Would be great if I could get like 10k plus for about the same price.

[michindi]

He claims they are all wheats

[TheJonasCollegeFund]

If you think about it, the only $50 "unsearched" bags of wheats out there are the ones not searched by you. 99.9% of the time...they were searched by someone. If you had them...wouldn't you search them? Biggest rip-off on ebay. Ask any member here and they will agree that "unsearched" wheats don't exist! Especially in $50 amounts.

[fasteddy]

and they maybe all wheats...but TJCF is correct...really the unsearched bag of wheats just has not been searched by you....I have bought two lots....a little less than 5000 cents each and out of each lot only a large handfull of pre-1940's. With zero errors found so far. If you can get an "all Wheats" bag or box or what ever they are in for less than .04 each go for it...maybe you will score. Good Luck in your treasure hunting.

[michindi]

Well the local guy agreed to do the 5k bag for $200 so I will be getting them tomorrow