5,000 BU 1964 pennies...did I pay too much?

[JIM F.]

A recent Ebay purchase.

 

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=110483633846&ssPageName=STRK:MEWNX:IT

 

For a little over 4 cents each, I think it was a "decent" purchase. What do you think?

 

[L1ncolnF4n]

Not bad at all. You might want to leave it sealed, or if you open it, roll them and search for an error or gem piece.

[cpm9ball]

Personally, I wouldn't believe that the seller or "client" didn't search them already. I'm very skeptical of any seller on eBay making such claims.

 

Chris

[CHABSENTIA]

Personally, I wouldn't believe that the seller or "client" didn't search them already. I'm very skeptical of any seller on eBay making such claims.

 

Chris

 

That would be my thought. The ad states that "his client opened the bag but did not remove any of them".He could search them and then put them back in the bag.If all of them were put back in the bag then none were removed. If you did not search them then you wouldnt be doing the max for your client etc.

[James_OldeTowne]

I don't think you paid too much, but you did pay full retail. No problem there.

 

When I get loaded up with piles and piles of rolled early Memorials, I usually dump them as quickly as possible for 1.5c each - and I feel lucky when I can get that. No kidding, I have cashed in such rolls on numerous occasions just to get out of them. But, that's wholesale level. 4c each is probably OK at retail.

[TomB]

It would be too much for me to pay, but I would imagine that there could be some coins in my collection where you would feel that I paid too much.

[World Colonial]

A recent Ebay purchase.

 

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=110483633846&ssPageName=STRK:MEWNX:IT

 

For a little over 4 cents each, I think it was a "decent" purchase. What do you think?

 

Whether you got a good deal to me depends upon why you bought them. From a collection standpoint, I'm not sure what point there is to having that many, but it is only $200.

[cpm9ball]

Does anyone think that $865 is too much to pay for a roll of BU Red 1930?

 

Chris

[Conder101]

Once the client opened them, it isn't an original mint bag anymore. He might say nothing has been removed, but it can't be proven. The bag may have been searched and anything good replaced with more BU 64 cents. Once opened you have to assume it has been searched and price accordingly.

[JIM F.]

I don't really care that the bag was opened, it's not like I would expect to find a rare error coin. It just seemed to me that 4 cents each for what should be truly BU cents that are over 45 years old seems pretty reasonable -- then again a lot of coins on ebay "seem" pretty reasonable after a few martinis!

 

 

[BillJones]

The trouble with having so many examples of the same date and mint is that it’s very easy to flood the market which will cause you to get a “distressed price” for them. I have not fooled with the BU roll market since the 1970s. Back then a dealer showed up with rolls of BU Lincoln cents from the early 1960s. He could not get any more than face value for them.

 

The only dealer I knew who got more than face value for Lincoln Memorial cents was a guy who packaged up date and mint sets from 1959 to date (circa 1974) in one of those card holders in a plastic sleeve. He was getting $2 to those. Obviously this scheme was more marketing than numismatics.

 

I don’t see this as a lucrative market except of 1964 cents in PCGS slabs with grades like MS-67, red or higher on them. Then you will catch some of the registry market. Otherwise I see it as a hard row to hoe.

 

[World Colonial]

I agree with you that from a financial standpoint, it's unlikely to result in any profit in the foreseeable future. Its simply not feasible to try to sell that many low value coins at "retail" which for most collectors, would be through eBay.