Wickas New Idea...

[Wickaboag]

Now don't call me crazy, but I think I truly lost my marbles. But I think I'll just start going through pennies because I can get a lot more of those than anything. Search other stuff when I can, but gather wheats for .03 cents each and trade them in at the local coin store for silver. I think it's a slow but SURE way of getting silver over time.
Going tomorrow to see if I can't trade wheats for silver. I got a few hundred sitting around.
Opinions?
Wicka.

 

[Infowarrior]

Wouldnt hurt to ask your local coin shop.

To slow for me to try :P although tripling your money is never a bad thing

 

[Wickaboag]

Wouldnt hurt to ask your local coin shop.

To slow for me to try :P although tripling your money is never a bad thing

I just have no access to coin anymore my bank shut me out, only gives me what CWR's it gets and it doesn't get much... I can get bags of pennies from the coin machine a few towns over and it mostly gets pennies. So I figure why not! :-) It all adds up.
Happy Hunting
Wicka

 

[OnARoll]

I mean in theory yes you have a good plan, you are usually guaranteed 10+ wheat's in a box of pennies, most of them are common dates of course but you may hit it big and then buy lotsss of silverrs! Pennies would be ideal especially if you have a bank with a free coin machine. I think i will hit pennies a little harder if i can get a bank that has a coin machine..say I find 10 wheat's in a box of 25$ pennies..close to 2.50 of that is going to coin star defeating any profit that you may use to purchaser silver etc! Have fun and wear gloves lol!!

 

[Wickaboag]

I mean in theory yes you have a good plan, you are usually guaranteed 10+ wheat's in a box of pennies, most of them are common dates of course but you may hit it big and then buy lotsss of silverrs! Pennies would be ideal especially if you have a bank with a free coin machine. I think i will hit pennies a little harder if i can get a bank that has a coin machine..say I find 10 wheat's in a box of 25$ pennies..close to 2.50 of that is going to coin star defeating any profit that you may use to purchaser silver etc! Have fun and wear gloves lol!!

Yeah. I can't get boxes, but I can get bags of machines. And CWR/MWR (RARELY) I figure get 20 pennies per 50$ bag. Or more? Who knows! Now, Opinions on this please.
Do I leave out pre 1939 and just trade 1940-1958 as wheats, and expect premium for older ones?
Wicka

 

[OnARoll]

I guess it really depends what your LCS would pay for them in general, ask them what years they buy then act accordingly, chances are they will give you more money for the lower more semi key dates and obviously condition counts. You should also search ebay. I bought two rolls of wheat pennies for 7 dollars with shipping included, so there's people out there that will buy them too..everything has its pro's and con's!

 

[Wickaboag]

I guess it really depends what your LCS would pay for them in general, ask them what years they buy then act accordingly, chances are they will give you more money for the lower more semi key dates and obviously condition counts. You should also search ebay. I bought two rolls of wheat pennies for 7 dollars with shipping included, so there's people out there that will buy them too..everything has its pro's and con's!

Im uncomfortable using eBay, lot's of stuff to do with that. I think? Not sure how it works really. Gotta ship things out, electronic payment. Not to great to me :\
Thanks for the tips though!
Wicka

 

[MIhunter]

1939 and older wheats should be worth more than 3 cents each. I would guess that the price of silver will rise faster than the price of 1940-59 wheats in Good to Very Fine Cond, but only time will tell. Have you exhausted all banks/credit unions in your area?

 

[Wickaboag]

1939 and older wheats should be worth more than 3 cents each. I would guess that the price of silver will rise faster than the price of 1940-59 wheats in Good to Very Fine Cond, but only time will tell. Have you exhausted all banks/credit unions in your area?

I live in a tiny tiny town. And Im 16. Once I get my license I can expand my search. But in my town, yes. The two banks in my area have shut me off..
Wicka

 

[sagittarius98]

you are usually guaranteed

"Nothing is guaranteed, except that you will pay taxes and die."

-A family saying

I've seen boxes with no wheats, sometimes even with no copper.

 

[Wickaboag]

"Nothing is guaranteed, except that you will pay taxes and die."

-A family saying

I've seen boxes with no wheats, sometimes even with no copper.

Good thing I won't be searching boxes then huh? :P
And I don't gotta pay taxes yet!
wicka

 

[ArkieBassMan]

Your coin shop may not want your common date wheaties. They do indeed wholesale in the 3 cents each neighborhood, but if your LCS either already has a large inventory, or just doesn't sell very many, they may not want them. It very well might not be worth their time to deal with them...especially in small quantities.

I can almost guarantee you that eBay, even after fees, will put more silver-buying cash in your pocket than selling to your LCS. Your LCS has to buy at a price at which they can turn a profit. With eBay, you're skipping the middle man (your LCS) and dealing directly with collectors.

Talk to your LCS. See if and what they'll pay. Have a look on eBay and see what amounts wheaties are currently selling for, keeping in mind that you'll pay ~12% of the final price (plus any shipping charges) in fees. Then you can make a very informed decision on what is best for you.

 

[OnARoll]

Your coin shop may not want your common date wheaties. They do indeed wholesale in the 3 cents each neighborhood, but if your LCS either already has a large inventory, or just doesn't sell very many, they may not want them. It very well might not be worth their time to deal with them...especially in small quantities.

I can almost guarantee you that eBay, even after fees, will put more silver-buying cash in your pocket than selling to your LCS. Your LCS has to buy at a price at which they can turn a profit. With eBay, you're skipping the middle man (your LCS) and dealing directly with collectors.

Talk to your LCS. See if and what they'll pay. Have a look on eBay and see what amounts wheaties are currently selling for, keeping in mind that you'll pay ~12% of the final price (plus any shipping charges) in fees. Then you can make a very informed decision on what is best for you.

I highly Agree!!

 

[50cent]

first and foremost wicka-homie, i'd only trade the 1950's wheats for 3 cents at the moment. Wheat cents are only going to up in value, 3 cents today might be 3 dollars 10 years from now for the older ones.

Good thing I won't be searching boxes then huh? :P
And I don't gotta pay taxes yet!
wicka

wrong, you pay sales tax. you pay tax from people raising prices. gasoline is taxed extremely high. People would make more money if they weren't taxed, tax affects all real numbers [ℝ] from nothing to everything - +, it affects you or me even before you or I were born.

 

[CC-Hunter]

If you can get an agreement from your LCS to take all your wheats at a decent price, no harm in trying this. Even better if you could find someone to buy your other copper cents at a profit. At least 20% of the cents I find (all from CWRs) are copper. I probably find a wheat every one or two rolls.

I personally think it will take a lot of cents to make enough profit to get a decent amount of silver.

 

[Thorne]

id say go the ebay route. you could sell rolls for 3-5$ all day and even with paypal and ebay fees still net 2$from 3 and 4$ from 5. would be much better then the 1.50 your going to get at 3 cents a piece. ebay is really easy to use if you know how to work the internets

 

[Wickaboag]

id say go the ebay route. you could sell rolls for 3-5$ all day and even with paypal and ebay fees still net 2$from 3 and 4$ from 5. would be much better then the 1.50 your going to get at 3 cents a piece. ebay is really easy to use if you know how to work the internets

Mind teaching me how? I just don't know anyone in real life that uses it to show me. I'm 16 I don't have a credit card they can pay me with over the Internet. Dunno what to do. :/
Wicka.

 

[maverick]

Hey Wicka, I think you have a good idea, it will probably be slow going but it should work. Good luck, Maverick.

 

[Thorne]

if you have a bank account with a debit card you can use that card for paypal. you seem to have a decent handle on the web. just go to paypal.com and on the top right is a button for sign up. its pretty straight forward.

 

[smitty58d]

Wicka spring is coming soon and many lawns can be mowed for a bigger profit than pennies. Also you can tell them to pay you with any change they may have laying around. Start with older people they may have SOLID ROLLS of wheats or silver!!!