Price for Common Date Wheats and Buffs

[AgentX]

I have the opportunity to purchase a fairly large coin collection. I'm comfortable in my offer price for silver. I'll generally going 10-15% under spot for common dates and use red book for key dates but, I've always been on the fence about what to offer for common date Wheaties and buffalo Nickels. My thought was in the area of 1.5 to 2 times face for common dates. I'm purchasing these to resell and not hold.

Any advice would be appreciated.

Agent

 

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[Diver_Down]

When buying bulk wheaties in person, I always set my price at $.03/each. If the seller insists there are early dates, then I'll randomly sample the lot by 3 handfuls and confirm the date range. If the 3 samples come up '40s and '50s, then the seller will get $.03/each. If there are a large number of 20s and 30's, then I'll buy at $.05/each. If there are earlier, then I'll buy at $.07/each. I always buy under the assumption that there are no key/semi-key dates.

After buying, I cherrypick the lot for RPMs and doubled die varieties. Also, any higher grade wheaties are kept. The rest are sold for a standing offer of $.03/each with the knowledge that they are picked over.

Nicks - I think you are low. Sample the lot. If they are full date and assuming no key dates, then I would easily offer $.50 - $1/each.