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What to do with wheat pennies??
- Thread starter robo
- Start date
Mark ( ohio )
Well-known member
That's a damm good question !! I myself have been saving/hoarding them for the better part of 50 yrs. God knows how many thousands and thousands of them I have saved. I've been pretty diligent on looking out for key/semi key dates.. Unless I have a few 1955 double/die coins mixed in the lot. Anyway your right, the commons are worth about 2 cents each.
still looking 52
Well-known member
As time goes by, they've got to increase in value, my thoughts are hold on to them and they'll pay dividends in the future.
Donna(NJ
Well-known member
I beach hunt and most are corroded and pitted. A few years ago, I decided to check them out and look for any key date or San Francisco mints(they were always lower mintages).
I kept everything from 10's,20's, & 30's. The rest I cleaned and put them back into circulation. I figured, let some kid,just starting out in coin collecting and have some fun !!!
I read awhile back, some dealers were paying 4 cents each. However, that was probably for 'NON-dug' coins. Ours are usually corroded and pitted. So Unless its a key date, dont think you will get much for them. Even if copper prices go up again, you cant sell them for scrap. Its illegal.
Just my 1 cent worth !!!!
HH
Donna(NJ)
Ronstar
Well-known member
At one point copper pennies were at 3.1 cents apiece roughly. Prices go up and down just like gold and silver but copper is still a stable ore. Technically one can not yet “destroy” currency themselves but if and when the refineries take copper like they do for gold and silver then a profit is probable. Still hoping old pennies will be allowed to melted at home and turned in as “clean” copper thus worth a bit more. Like it was noted, take out the key date coins or higher grades and put in a penny book. Stash the others in coffee cans and try and get them to a consistent weight in each can.
I’ll up the ante and say this is”my two cents worth”!
I’ll up the ante and say this is”my two cents worth”!
Mark ( ohio )
Well-known member
The majority of mine (90)% came from searching rolls upon rolls for many yrs... I bought about 50 rolls from a guy I worked with many yrs ago and gave him 1.00 a roll. Never searched them but I told him to pull out anything before 1930. I've probably dug around 1500-1600 over all the yrs but just tumbled them in crushed corn and they came out wonderful. and you are correct, you can't melt them down for scrap.I beach hunt and most are corroded and pitted. A few years ago, I decided to check them out and look for any key date or San Francisco mints(they were always lower mintages).
I kept everything from 10's,20's, & 30's. The rest I cleaned and put them back into circulation. I figured, let some kid,just starting out in coin collecting and have some fun !!!
I read awhile back, some dealers were paying 4 cents each. However, that was probably for 'NON-dug' coins. Ours are usually corroded and pitted. So Unless its a key date, dont think you will get much for them. Even if copper prices go up again, you cant sell them for scrap. Its illegal.
Just my 1 cent worth !!!!
HH
Donna(NJ)
Mark ( ohio )
Odanscoils
Well-known member
Make great bullet jackets.
If you have the equipment.
I'd be interested in buying a bunch.
If you have the equipment.
I'd be interested in buying a bunch.
I recently sold 7500 to a guy I know for 3 1/2 cents apiece. He has a small space in a antique mall (hobby) and sells the wheats in packs of 15 for $2.00. He knows I check them for key and semi key dates and he cleans them with crushed corn, too. None of the coin dealers I know want wheats that have been dug. Dug ones don't appreciate very much as far as hanging onto them. HH jim tn
BigTony
Well-known member
What is crushed corn?
Tony
BigTony
Well-known member
Crushed corn? What is that?
Tony
A few years ago I sold quite a few wheatie to a dealer and got 2 cents each for the 40s and 50s, 3 cents for those in the 30 and 4 for the ones in the 20s and a nickel for those in the teens. Most were dug one and I had clean them in a vibrating tumble so they didnt come out too clean. I used aquarium gravel water and a product called Awesome and ran for couple hours, then rinse and separate and let them dry then run them in crushed walnut shells without water
and then washed them and they look like they were never in the ground and look like they were normal.. the ones that were bad and didnt clean up good I threw in a bucket.
Now I am saving the copper pennies up to 1982 as they are copper and not the trash the newer one are.
Rick
and then washed them and they look like they were never in the ground and look like they were normal.. the ones that were bad and didnt clean up good I threw in a bucket.
Now I am saving the copper pennies up to 1982 as they are copper and not the trash the newer one are.
Rick
Mark ( ohio )
Well-known member
Its a cleaning media used in a vibrating tumbler for cleaning brass shell casings. My dug wheaties came out looking pretty good after about 4-6 hrs.
Odanscoils
Well-known member
A tumbler polishing medium.
Usually used for polishing bullet brass.
