Wheaties do you sell or keep them?

[BenG76]

After sorting for a bit I am starting to build up a decent amount of wheat cents. I have been thinking of trying to sell them and I was curious to what others here are doing. I am not much of a coin collector any more honestly. I just add to my copper and silver stashes when I can.

I have seen rolls or small bags of wheat's do well around my area at auction. Saw some rolls bring $7.50 once at an auction. Filling up an old blue canning jar with a zinc lid seems to make them sell well also. I guess people think they are getting someone's old stash. I've seen the jar trick work for marbles and buttons as well.

It looks like rolls or lots could sell well on EBay as well but I would prefer to avoid that route if possible. What are you guys thoughts on this?

[rsk1963]

At this point, I keep error varieties, deep blast orange wheats that have no blemishes and the pre40's, as these don't stack up too quickly and have a fair amount of value behind them as well.

Generally for the common date/common shape guys I stack them until I have a fair amount (in excess of 40-50 FV) and the market (silver/gold) have fallen a fair amount move them through CL, feebay or here, use the extra frns to buy more then I could have otherwise.

[robroy]

I've amassed over 1,000 wheat back coins and currently have no inclination to sell them. They are all stored in plastic containers and I have no idea of what dates I have. About the they only thing I can say with any certainity is that there in no 1909 S VDB in the lot. That coin I do keep an eye out for.

[scyther]

I keep all mine. I have less than $10 FV. I don't know how much rsk1963 must sort to get that amount of wheats. If I get 3 cents each for them, I make $20. I think I'll just keep them.

[joefro]

I always keep them. Otherwise I wouldn't be a hoarder, right? Honestly though I have a pretty huge stash saved away sorted by date/mm into rolls. I figure if I ever want to start searching for Lincoln varieties, I already have a good starting batch!

[joefro]

Also, what rate do you guys find wheats at when roll searching? I usually find about 1 wheat for every 3 rolls searched here in southeast Texas. Pretty slow but Im surprised there are even that many left in circulation.

[rsk1963]

I keep all mine. I have less than $10 FV. I don't know how much rsk1963 must sort to get that amount of wheats. If I get 3 cents each for them, I make $20. I think I'll just keep them.

Between 100-150 FV weekly

Also, what rate do you guys find wheats at when roll searching? I usually find about 1 wheat for every 3 rolls searched here in southeast Texas. Pretty slow but Im surprised there are even that many left in circulation.

Generally around 20 per 25 FV

[bookshelf]

I find about 2-3 wheats per 5 FV.

[spacemanX]

average per $25 box will be between 7 and 12 wheats. very rarely do i get below 5 wheats in a box.

[cooyon]

Just finished searching 40 N F String rolls...13 wheats out of 2,000 coins...0.65 percent...oldest was 1928...I keep all the wheats I find.

[penny pretty]

001.JPG (129.91 KiB) Viewed 1169 times

neat idea about the canning jars. the place I just moved into had some old milk bottles in garage, maybe Ill fill one up and put it on the bay and see who bites. I have about $40FV post 1940 just sitting around.

[SilverDragon72]

I keep any of the Wheat pennies that I find.

[scyther]

I calculated 0.4% a while ago.

[bigbubbano23]

keep for now but will eventually sell.

[Bigsarge]

My Stats so far for this year:

Total pennies Sorted: 250000
Total Copper: 81155
Total copper Avg: 32.462
Total wheats: 911
Wheat average of coppers: 1.12254

So far I've been keeping all my wheats. I roll them by year and mint and put them in my wheat penny box.

My LCS pays 3 cents each for the commons, maybe one day I'll trade in some commons for Silver. Don't know.

[LooseChange]

My LCS pays 3 cents each for the commons, maybe one day I'll trade in some commons for Silver. Don't know.

If you use only wheats pulled from circulation, the ones you got at FV, think of it as an automatic 66% discount on all your silver purchases.

IE you want 4 ounces that LCS has for $24 each (Tax and Premium included) that would cost you $96 FRNs. If you pay with wheats, that would only be $32.00 FV wheats (which you pulled from circulation for only $0.01 each)

That may be a good strategy if you have more commons than anything else, especially if you have multiple rolls of the same date/mint mark that you wouldn't mind parting with. At $1.50 value per common roll, you'd need 16 rolls to get an ounce, so essentially $8/ounce silver if paid for in common wheats.

Based on the percentages you listed above (Assuming all wheats were commons, you started sorting on Jan 1 2013, got 911 wheats in 268 days, averaging 3.4 wheats/day, at a value of 3 cents each, and wanted to trade them all in using the scenario above at $24/ounce) you would be able to buy a "discounted" ounce once every 235 days, or about 1.5 oz per year.

It might just be me, but based on your percentage of wheats, and that silver can be had for under $25/oz, I would keep the wheats and buy silver with cash. If you have thousands of common wheats you want to unload and want more silver at the same time (for space issues or whatever)....of course my opinion would be the complete opposite.

[Dave]

I keep mine, I roll them by the decade. I just got to a full CTU of wheats. It took me 5 years to do it.

[Zincanator]

I've been keeping mine but with well over $100 FV pulled I'm considering selling by the roll on Craig's.

[Bigsarge]

It might just be me, but based on your percentage of wheats, and that silver can be had for under $25/oz, I would keep the wheats and buy silver with cash. If you have thousands of common wheats you want to unload and want more silver at the same time (for space issues or whatever)....of course my opinion would be the complete opposite.

Troop.... I like the way you think