Wheatie run

[Immy]

Getting down to crunch time (aka the mid-year point) so an evening journey to the casino is necessary to make 500 wheaties by Monday night. Got a little closer: (from $40)

Wheaties: 1936, 1944, 1944-S, 1950, 1957, 1958-D (2)

Canadian: 1956

Lady sitting next to me hit $2000 on a penny machine. Yow! I would've felt better for her except I was down $600......just kidding!

 

[XX]

Just curious Immy (saying that out loud reminds me of the movie Whole 9 Yards)

What would you say is the amount of pre 1940 wheat cents that you find as a percentage of total wheat cents found?

I personally am seeing about 1%, maybe less (this is just a guess and one day I'll actually go through them again to figure out the actual number).

The reason I ask is because on some other forums, I see people trying to rate the quality of wheat cent sellers on ebay by the percentage of older wheat cents found in their rolls. But what gets me is these people are expecting something like 20% to 30% and I just don't see that possible unless the seller is intentionally increasing the ration, in which case he's still stuck with a pile of pure 40's and 50's.

I figured you would be a good source to get an idea of the true ratio in the wild.

Thanks in advance

 

[GMan00001]

What would you say is the amount of pre 1940 wheat cents that you find as a percentage of total wheat cents found?

I personally am seeing about 1%, maybe less (this is just a guess and one day I'll actually go through them again to figure out the actual number).

The reason I ask is because on some other forums, I see people trying to rate the quality of wheat cent sellers on ebay by the percentage of older wheat cents found in their rolls. But what gets me is these people are expecting something like 20% to 30% and I just don't see that possible unless the seller is intentionally increasing the ration, in which case he's still stuck with a pile of pure 40's and 50's.

I don't know about in vegas, but for me I average around 12% pre-1941 in CRH finds. Basically, I did my split on the wheat penny books, which the first one is 1909-1940 and the second is 1941-1958+. If I remember my numbers correctly, between both this year and last year I have been averaging around 10 wheats per $25 and around 1.2 pre-1941 wheats per $25. I might be a bit off, maybe a percentage point or two, but not too far.

now pre-1941 with mintmarks....that's a whole different story. I haven't personally tracked that category, but I could easily check on it once I get home. It also will likely vary greatly depending on the region of the country, but I could give a midwest value to it.

 

[coinmojo]

What would you say is the amount of pre 1940 wheat cents that you find as a percentage of total wheat cents found?

I personally am seeing about 1%, maybe less (this is just a guess and one day I'll actually go through them again to figure out the actual number).

Thanks in advance

I am finding about 10 to 20 Wheat's per $50 bag and of 10 bags I probably have accumulated around 10 Pre 40's Wheaties. Recently here in Mi. (1 in 5000) .0002 % in the wild.

Mojo



Mojo

 

[GMan00001]

I am finding about 10 to 20 Wheat's per $50 bag and of 10 bags I probably have accumulated around 10 Pre 40's Wheaties. Recently here in Mi. (1 in 5000) .0002 % in the wild.

Mojo

Yes, but your percentage of pre-1940 wheats/all wheats is what he is looking for.

so say 10 bags at 15 wheats each = 150 wheats of which 10 were pre-1940
10/150 = 6.6667%

adjust accordingly if this is inaccurate.

 

[coinmojo]

I am finding about 10 to 20 Wheat's per $50 bag and of 10 bags I probably have accumulated around 10 Pre 40's Wheaties. Recently here in Mi. (1 in 5000) .0002 % in the wild.

Mojo

Yes, but your percentage of pre-1940 wheats/all wheats is what he is looking for.

so say 10 bags at 15 wheats each = 150 wheats of which 10 were pre-1940
10/150 = 6.6667%

adjust accordingly if this is inaccurate.

sounds good to me

 

[jrf30]

I can give you some numbers on that one that will help.

So far this year I have found the following decades in total wheat penny count:

'00s - 1 (0.08%)
'10s - 12 (0.97%)
'20s - 26 (2.11%)
'30s - 46 (3.72%)
'40s - 472 (38.22%)
'50s - 678 (54.90%)

Total found YTD - 1,235

So, total found pre 1940 versus total wheat found =

85 / 1,235 = 6.88%

For me at least. :-)

 

[Immy]

We seem to have a reliable estimate here. While I haven't kept track of how many pre-1940's I've found this year, here's the results of a 100,000 penny survey I did in 1996 where I found 396 wheats:

1950-58 - 235 (59%)

1940-49 - 132 (33%)

1930-39 - 13 (3%)

1920-29 - 6 (1.5%)

pre-1920 - 9 (2%)


6-7% looks to be the average.

 

[sfwusc]

ok i did $50 worth yesterday.


24 wheats

10 from the 50s 1 was an S mint
12 from the 40s
1 1935 that looks just awful
1 1921 that is actually decent shape

about 8%

i would say mint mark pre 40s are very low % if you don't count 1919s

-SWUSC

 

[GMan00001]

Okay now that I have access to my records (I was at work before), I can give you my real 2008 numbers

'00s - 3 (0.11%)
'10s - 52 (1.94%)
'20s - 53 (1.98%)
'30s - 142 (5.31%)
'40s - 1075 (40.22%)
'50s - 1348 (50.43%)

Total found YTD - 2,673 wheats + 2 IHC + 6 wheats with unknown dates

Now my earlier split was pre-1941 so
pre-1941 total = 307
so pre-1941 % = 307 / 2673 = 11.48%

now if only pre-1940 count it drops a little
pre-1940 total = 250
so pre-1940 %= 250 / 2673 = 9.35%

just for fun I grouped the pre-1940 by mintmark as well
Philadelphia - 190 (7.11%)
Denver - 43 (1.61%)
San Francisco - 17 (0.64%)

 

[sfwusc]

Okay now that I have access to my records (I was at work before), I can give you my real 2008 numbers

'00s - 3 (0.11%)
'10s - 52 (1.94%)
'20s - 53 (1.98%)
'30s - 142 (5.31%)
'40s - 1075 (40.22%)
'50s - 1348 (50.43%)

Total found YTD - 2,673 wheats + 2 IHC

Now my earlier split was pre-1941 so
pre-1941 total = 307
so pre-1941 % = 307 / 2673 = 11.48%

now if only pre-1940 count it drops a little
pre-1940 total = 250
so pre-1940 %= 250 / 2673 = 9.35%

just for fun I grouped the pre-1940 by mintmark as well
Philadelphia - 190
Denver - 43
San Francisco - 17

so like 2% pre 40s mint mark.

 

[jrf30]

I'd say Gman and I are pretty close in which wheats we find in which ratios.. He's at 5.31% in the 1930's and I'm only at 3.72%, but that's really not much of a difference. And I'm at 54.90% in the 50s and he's at 50.43%, but again that is not much.

So for 2008, it looks ike those numbers are pretty accurate.

I also have 2 IHC's like you do Gman, but on less wheats found, so my ratio so far on that is a little higher. But, with such a low number that is not statistically relevent.

 

[GMan00001]

Also for comparison sake I looked at my 2007 numbers

'00s - 3 (0.07%)
'10s - 67 (1.65%)
'20s - 77 (1.90%)
'30s - 255 (6.29%)
'40s - 1623 (40.06%)
'50s - 2026 (50.01%)

Total found YTD - 4,051 wheats + 6 IHC + 25 wheats with unknown dates

Now my earlier split was pre-1941 so
pre-1941 total = 480
so pre-1941 % = 480 / 4051 = 11.85%

now if only pre-1940 count it drops a little
pre-1940 total = 402
so pre-1940 %= 402 / 4051 = 9.92%

just for fun I grouped the pre-1940 by mintmark as well
Philadelphia - 318 (7.85%)
Denver - 59 (1.46%)
San Francisco - 25 (0.62%)

 

[XX]

You guys are awesome. Thanks for the feedback.

When I get a chance, I'll sort my wheats out and post an accurate percentage also.

Of course I still need to post the breakdown on that silver quarter stash I found. I still haven't picked up a Washington quarter book to put them in.

Thanks