Question on buying wheats.

Hunter09 · Member

Does anybody buy large lots of wheats to go through? How much do you normally pay? Would you buy lots or groups off of ebay or try to find them somewhere else? Thanks!

coop · Expert Member

If I was buying, I would check out your local area first. Chances are the ones on ebay are over priced, searched and the shipping would probably be too much. If you get them locally the shipping would be nil and you might have a lot better chance of finding something. Check coins shows and shops. Check vendor 2X2's in AU/BU condition at shows. You may find a real gem there.

eagames · Expert Member

By the time you include ebay SHI and that most are already well searched, it might be better to simply look for a good deal to buy a variety coin on ebay.

If you check local dealers buy/sell prices for bulk wheats you might do best. Find a dealer that sells reasonably and find a dealer that buys for a decent price. That way you can search them then sell them and keep getting more.
Some bags will be searched but there's almost always still something to find.

A SWAG on price... you might be paying 4-5 cents each in bulk, most will buy for 2-3 cents (more for mixes with more older dates). Shop around and see what your local dealers will do.

Hunter09 · Member

I have been trying to stay away from the dealer route in this area because I haven't had great experiences. It seems if you aren't there to buy a key date or sell them something they can make money off of they don't want to deal with you. That being said, I put a add on Craigslist to buy Wheats and decided like eagames stated, to pay 4-5 cents a piece. I only had one reponse and to make a long story short I paid the guy 6 cents a piece. So far, the good part is in just a quick run through I found a blank planchet, 1958-D-1MM-005(a real beauty), and a few others I will have questions on whenever my wife brings my camera back. The bad part is they were almost all 40's and 50's. I just figured there has to be an easier route than Craigslist. Ebay looked okay but I also wondered how many of those have been went through. The main thing is the going rate for them, I realize 6 cents was probably to much, hopefully it works out for me. I guess I will just stick with my instinct next time and just hold out for 4-5

mojaveblue · Advanced Member

I have been working on the best approach for buying silver bullion, (this is related to this thread), I have decided that my 2 local dealers would be best (in lieu of Ebay or website) if I could avoid paying the sales tax. So I got the idea to try a trade, and yes it worked, I got a good price for the silver and didnt have to pay tax. So for wheats, maybe one of your local dealers would deal with you more if working on a trade basis.

Hunter09 · Member

mojaveblue · Advanced Member

Good luck!

ken · Senior Member

I can get 5000 coin bags said as unsearched but take it for what it's worth,for $250.00 if interested.I got a couple and found some descent dates inside with many varieties.LMK,Ken PM me.

coppercoins · Site Admin

$250 is a decent price for them. Back in 2005 I was paying half that, but with the rise in copper and the overall rise in the market, double what I was paying five years ago seems reasonable. That's a nickel a coin, which is their typical bag value.

supaplums · Member

I just tried eBay for a bag of 2500 and paid 6 cents a piece after high shipping. The mix was pretty nice as far as dates go. Took out the good stuff and sold the rest at about 5.5 cents back on eBay. Found 2 varieties and one questionable one. I posted them on the new finds thread. Not too bad a deal I guess. Ended up paying about $25 for a handful of pretty cool stuff. My local dealer only has about 1000 or so in stock so I got a sample roll the other day for 4 cents each. It was about 50% S mints with some au-unc coins and old stuff. I'm picking up the rest tomorrow!