Wheat pennies

Little_Bit_Red · #1 04/12/13, 12:38 PM

HI! I have about 12 wheat pennies - looked them up, and they are worth, in excellent condition, $5.

I have ONE 1920 D wheat penny and in excellent condition, is worth $135!

What would you do??? And, where would i go to hopefully get some of this?

Thanks!

Rocktown Gal · #2 04/12/13, 12:42 PM

Are yours in excellent condition? You can put them on eBay or you can go to your local coin shop to see what they will pay for them.

I collect pennies...I haven't sold any yet...I may some day.

Is the D a regular D? Did you check to see if it was a RPM (Repunched Mintmark)

ace admirer · #3 04/12/13, 12:49 PM

You have the cents (penny is an english coin oddly enough there no such usa coin called penny). if you get the $135 what would you do with it? do you have kids, gand kids?

geo in mi · #4 04/12/13, 12:50 PM

Scott's on Westnedge in Kalamazoo.

geo

Michael W. Smith · #5 04/12/13, 01:09 PM

Quote:

Originally Posted by Little_Bit_Red

I have about 12 wheat pennies - they are worth, $5.

I have ONE 1920 D wheat penny and in excellent condition, worth $135!

An item is "worth" what someone is willing to buy it for. You can go to a coin store, coin convention, EBAY, etc.

But with those lofty prices in your head, you will most likely be disappointed with what you are offered.

Have you ever watched Pawn Stars? Something may be worth $500.00, but youi are only going to get $200.00 - $300.00 for it.

simi-steading · #6 04/12/13, 01:12 PM

A $135 penny can easily turn into a $2 penny once someone who knows what you have looks at it... .. it only takes a scratch or nick to do that..

Ya know what they say about counting your chickens...

rambler · #7 04/12/13, 01:34 PM

I'll guess you don't have a certificate graqding them as 'excellent' or the numbner they would assign to a coin.

I aslo suspect your coins are in good, but curculated comndition with the normal fine scratches and dings.

So, they will be worth at most 1/2 of whaqt you say, and then it will take time and money for someone to have them graded. which will take another 1/3....

And likely they will want to haggle a bit and make aprofit themselves.....

And some places are a bit less than honest and try to take advantage, so will lowball you....

So, be prepared. I doubt you will get 1/2 of your number.

Paul

Little_Bit_Red · #8 04/12/13, 01:40 PM

To answer all questions and comments: Yes, it's definitely circulated and not in excellent condition - the $135 was of course, for excellent.

I do not have kids, but have a nephew. I was going to give him the rest of my wheat pennies to hold on to until he is grown and decides what to do with them.

Seriously, they will take 1/3 to grade the dang thing? Geez!

No, don't know about the Repunched mark - just looks like the letter "D". No other extra markings....

Just wanted some advice. Heck, $50 for a penny would be good right now - pay one of my bills....

Bret · #9 04/12/13, 01:47 PM

Quote:

Originally Posted by Little_Bit_Red

To answer all questions and comments: Yes, it's definitely circulated and not in excellent condition - the $135 was of course, for excellent.

I do not have kids, but have a nephew. I was going to give him the rest of my wheat pennies to hold on to until he is grown and decides what to do with them.

Seriously, they will take 1/3 to grade the dang thing? Geez!

No, don't know about the Repunched mark - just looks like the letter "D". No other extra markings....

Just wanted some advice. Heck, $50 for a penny would be good right now - pay one of my bills....

Then in this case, your nephew may take them and hold on to them for the rest of his life and think of you each time he looks at them in the special place that he holds such things, making the pennies priceless.

Big Dave · #10 04/12/13, 01:48 PM

Go to a coin show. Find a dealer there, There will be a few threre so you will not get rookie dooed.If you find a PONCHO VILLA dollar I am intrested.

BigHenTinyBrain · #11 04/12/13, 01:56 PM

I collect wheat pennies. I don't know why, but they just appeal to me- something about them is really pleasant. I probably have 500 of them, and when I've looked them up most of them (in regular old circulated condition) are worth right around... a penny!

Good luck though! If you hve n unusual one in good condition then you can get a little money one place or another (I second the coin show idea, or ebay). Keep us posted!

tgmr05 · #12 04/12/13, 03:40 PM

Most are not worth what you find in books, etc. Those are retail prices for folks trying to complete collection of all wheat pennies, etc. The only really valuable ones are called key date pennies, and there are not many of them. There are the steel 1944 and the bronze/copper 1943 that are worth quite a bit, and the early VDB marked 1909 s, and the 1955 double die. There may be a couple others, but the rest are not worth much. Most shops will give you 2 cents or so for wheat pennies, and maybe between a 25 cents and 75 cents for the 1920 you mentioned. Maybe more, depending on demand...

Your best bet is ebay, because a coin shop will give you what I mentioned above. Even then, though, not being a true key date, nor a certified coin, it will be hard to get much more out of it. You may make more off the shipping/handling charges, honestly....

Belfrybat · #13 04/12/13, 04:58 PM

You can get the whole 1920's decade on E-Bay-- nine pennies for $5.99. http://www.ebay.com/itm/1920-29-P-LI...item5ae4d3adba
Not what you want to hear I gather.

mnn2501 · #14 04/12/13, 07:47 PM

Excellent condition to a collector and excellent condition to your average non-collector are 2 different things. If it was ever in circulation it is probably not "excellent grade".

Mr. Burns · #15 04/12/13, 08:24 PM

Quote:

I collect wheat pennies. I don't know why, but they just appeal to me- something about them is really pleasant. I probably have 500 of them, and when I've looked them up most of them (in regular old circulated condition) are worth right around... a penny!

Copper is worth a WHOLE lot more now than when copper cents were created. Even the modern "pennies", made from zinc, cost the govt. over 2 cents to make. Why they still make them is a mystery....

Anyhoo...here is a link to a company that will sell you 60 wheaties for $20. That should give you a VERY ROUGH idea of what they are worth. Of course, a rare collectable, in great condition, will be worth a whole lot more.
http://www.govmint.com/item/Half_Tro..._Coins)/222579

bassmaster17327 · #16 04/12/13, 08:44 PM

Common wheats from the 50's sell for about .04 each, without being graded the 1920D is worth about 2.00

geo in mi · #17 04/13/13, 07:24 AM

Quote:

Originally Posted by bassmaster17327

Common wheats from the 50's sell for about .04 each, without being graded the 1920D is worth about 2.00

Agree. While remodeling an upstairs bedroom last year, five wheats fell out from behind a piece of window trim. That's the price I found(internet, I think)

Again, Scott Hocivar, of Scott's in Kalamazoo(actually Portage), is one whom I could trust for a correct answer--he worked as a summer employee in our department many years ago when he was a teenager--I also knew his father....

geo

jwal10 · #18 04/13/13, 09:16 AM

I have a full collection of wheat pennies, both mints. Even the steel pennies. I have a 1943 steel penny that my Grandad used as a washer on a little latch button on a closet in his home when he remodeled it. He drove a nail right through the middle of it. I am sure it is not worth much now but it means a lot to me, I put it on a small cabinet on the wall in our kitchen so I can see it everyday....James

suitcase_sally · #19 04/13/13, 09:26 AM

Not wheaties, but - I saw an online auction last week where 53 Canadian pennies from the 30's thru the 60's went for $24.00! Can anyone tell me why? They were just a group, not individual. Boy! I have probably $10 worth of Canadian pennies.

BigHenTinyBrain · #20 04/13/13, 08:22 PM

Well, like wheaties, they don't make Cnadian pennies anymore. Those prticular ones were probably valuable for a specific reason- a rare mint or something. But I know two people who collect them in general (we're right on the border, we see a lot of Candian chnge) in cse they become valuable.

I'm not sure I'd make the effort, personally.