1974 Penny Mint Bags from Minneapolis

[Holt0222]

Hey guys, I stopped by the coin shop today to pick up another Ike coin I needed for my album. The store owner asked me if I wanted to buy some bags of pennies that they had purchased that day. He pulled out several sealed $25 bags of pennies from the Minneapolis Federal reserve that were dated 1974. Hes offering to sell them to me for $50 a bag. What do you guys think, is it worth getting them or should I pass. I do not know if these will be all 1974 pennies or if they will contain older ones as well. Thoughts please....

 

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[Rosco53]

Hey guys, I stopped by the coin shop today to pick up another Ike coin I needed for my album. The store owner asked me if I wanted to buy some bags of pennies that they had purchased that day. He pulled out several sealed $25 bags of pennies from the Minneapolis Federal reserve that were dated 1974. Hes offering to sell them to me for $50 a bag. What do you guys think, is it worth getting them or should I pass. I do not know if these will be all 1974 pennies or if they will contain older ones as well. Thoughts please....

I think it depends on what you're looking to find. They'd be completely copper, so if you're hoarding may not be a bad idea. Maybe wait and ask them what the composition is, if they're all 74's or a mix, cause if its a mix you do increase your odds for wheats by a bit, so if you're after them... Though, whether that increase in odds counters the 50% more coins you could get going through a bank... Sorry if this isn't overly helpful, but some food for thought.

 

[GlenDronach]

Double the face value wouldn't be such a bad proposition. There were errors in 1974 too, so if it was a fresh bag, you might get some good unc or errors.

 

[Scott (Mich)]

I think I would jump at this. They are sealed Federal Reserve Bank bags - does this mean that they are all new cents from 1974? Even if they weren't, just the fact that they are sealed bags would have my blood going. Hey, wasn't 1974 the year that the mint made all those aluminum cents and then melted them all? (except for some given to some politicians which were never found). You can always dream of one turning up in an old sealed bag...yeah I know it's pretty much impossible, but a person can dream. Anyways if I had the chance I would take it.

 

[Owassokie]

If they are not all "74's", I would definitely jump on it. I suspect they are all 74's, which isn't one of the most popular years to search for errors.

 

[Diver_Down]

I would buy them all. Search one. If it is revealed that it is solid '74 cents, then I'd flip the rest on eBay with a grandiose story about discovering these bags in a late relative's basement. If they are mixed cents, then I'd hunt them all in the hopes of wheats, perhaps an uncirculated '72 DDO, '69 S DDO, etc. Whole bunch of various varieties and errors to hunt and you can still roll up the keepers for copper hoarding or eBay flip.

 

[Holt0222]

So I picked up 4 bags worth. They are a mix of years. Best find so far and I’m only through 1/2 a bag is a D steel penny. Lots of Wheaties so far.

 

[Diver_Down]

So I picked up 4 bags worth. They are a mix of years. Best find so far and I’m only through 1/2 a bag is a D steel penny. Lots of Wheaties so far.

Do you only hunt for wheats? or do you hunt for errors and varieties? Also, did you negotiate a lower price per bag?

 

[Holt0222]

I got them for 45 a bag. Do not horrible not great. I search all. Right now I’m filling a book