Buying 3000 wheats. What's a fair price to pay?

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  • Swheat pennies
    Member
    • Jan 2019
    • 25

    #1

    Buying 3000 wheats. What's a fair price to pay?

    Found a guy selling 3000 wheats asking 350. I haven't gotten much detail other than they where his father's that he inherited when he passed. Trying to come up with a negotiating method before I go take a look today. If they are unsearched like I'm hoping I may take the gamble at full price if he doesn't budge on his price. What do you guys think I should offer?
  • Roller
    Member
    • Feb 2010
    • 6975

    #2
    I pay 3.5 to 4 cents depending on general condition and some teens and twenties included in batch.

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    • GrumpyEd
      Member
      • Jan 2013
      • 7229

      #3
      Bags of 5000 sell for around $145 dealer to dealer, I think a good deal at retail is around $200 or less.
      Anything above that starts getting high but it really depends on what's in them, if they have better dates or more older stuff then it's worth more but unless you have some way to sample a handful I'd assume they're mostly common dates and not want to go much over about $200 a bag/4 cents each.

      $350 for 3000 is steep, that's over 10 cents each, I wouldn't want that if they're mostly common dates.

      I would offer around 3-4 cents unless he can show you that they have a lot of good dates.

      Comment

      • mustbebob
        Lincoln Cent Variety Expert
        • Jul 2008
        • 12758

        #4
        I would offer around 3-4 cents unless he can show you that they have a lot of good dates.
        I agree completely. 10 cents each is pretty steep. The going rate is 3-5 cents but it is extremely difficult to prove they were indeed unsearched.
        Bob Piazza
        Former Lincoln Cent Attributer Coppercoins.com

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        • Swheat pennies
          Member
          • Jan 2019
          • 25

          #5
          Ended up negotiating him down to 150. Working on sorting them now. Got a few hundered dates before 1930 and 2 1909 vbd's so I'm happy with that.

          Comment

          • makecents
            Paid Member

            • Jun 2017
            • 11038

            #6
            Nice work on the talk down!! That's cool on the VDB's and the older dates too!

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            • jfines69
              Member
              • Jun 2010
              • 28848

              #7
              Nice job on the talk down... Sounds like that batch will turn out fairly well!!!
              Jim
              (A.K.A. Elmer Fudd) Be verwy verwy quiet... I'm hunting coins!!! Good Hunting!!!

              Comment

              • Swheat pennies
                Member
                • Jan 2019
                • 25

                #8
                Has been a nice lot so far. A lot of woody's and several errors so far. Will post some threads soon once the tedious task of sorting is complete.

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                • GrumpyEd
                  Member
                  • Jan 2013
                  • 7229

                  #9
                  Hope you find some varieties in the group

                  Comment

                  • TPring
                    Paid Member

                    • Sep 2017
                    • 3120

                    #10
                    Originally posted by GrumpyEd
                    Hope you find some varieties in the group

                    I like varieties more than I like errors.
                    If you choose not to decide, you still have made a choice -- Freewill

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