What Are Wheat Pennies?
Coin collectors, antique hunters, and treasure seekers all know the popularity of wheat pennies. These US coins, officially referred to as the Lincoln Cents, were produced between 1909 and 1958 and feature one of America’s most beloved figures – President Abraham Lincoln. While they are still widely circulated, they are highly sought after by antique hunters and investors alike.
The reason for the popularity of wheat pennies is the fact that they are made of 95% copper and 5% zinc, which makes them a stronger and more resilient coin. The profile of the President Lincoln head is a recognizable symbol of American culture and a reminder of an era gone by. The sentimental value of the penny is further boosted by the coin’s age.
Wheat pennies have become a great investment and collecting opportunity for many. Even common dates are worth more than their face value, and rare dates command high prices from buyers. With proper care and grading, a wheat penny can be judged to see its overall condition and grade, which helps its value.
Where to Sell Wheat Pennies?
If you are one of the lucky few to have some of these rare and valuable coins, you may be wondering where is the best place to sell them. Here are some great options of where to sell Wheat Pennies:
Local Coin Dealers
Local coin dealers are the safest, quickest, and usually most reliable place to sell your wheat pennies. Coin dealers specialize in selling, appraising, and buying coins, often hosting a physical store where one can buy and sell coins. They are closely associated with the numismatic industry and can give you an expert opinion on the value of your coins.
Online Marketplaces
Another option to sell your wheat pennies is online marketplaces, such as eBay and other online auctions. Here, you are able to list your coins for sale and have them seen by thousands of buyers. These buyers come from all over the world, making your items more marketable. The process of selling on these sites can be a bit tricky, as you must be sure to properly package and describe your item.
Specialty Auctions
Specialty auctions are held specifically for coins and associated collectible items. These auctions will have a broad selection of different coins and collectibles, allowing you to find a greater variety than if you were to sell through a local coin dealer. It can also be beneficial if you are looking for a rare or expensive coin, as you may find it easier to obtain and then resell at this type of auction.
Coin Shows
Coin shows are held all over the world, and they provide a great opportunity to buy and sell coins to a wide variety of collectors. Vendors bring in rare and valuable coins to sell, and attendees can buy and sell coins among themselves. This is a great way to get the highest possible price for your coin collection, but it can also be the riskiest way to buy, as you are dealing directly with another person.
Online Coin Dealers
Online coin dealers, such as Certified Coin Exchange (CCE), offer a convenient and safe way to buy and sell coins with buyers and sellers from all over the world. This platform allows you to post your coins for sale and get bids from buyers. The CCE also offers sellers the opportunity to set their own reserve price, allowing them to get the highest price possible for their item.
How to Sell Wheat Pennies
Once you’ve decided which route to take to sell your wheat pennies, there are a few steps you should consider when selling them, regardless of the method chosen.
Research: Do your homework and research the prices of similar coins, so you know the approximate value of your wheat penny.
Grading: Grade your coins to determine their condition and the possible price range.
Listing: List your coins in the marketplace of your choice. Take photos, compare prices, and have an idea of pricing when listing.
Packing and Shipping: When it comes time to pack and ship your coin, make sure it is securely wrapped to prevent any damage during delivery.
Making a Sale: Once an offer is accepted and payment is received, ship the coins as soon as possible, and don’t forget to include tracking on the shipment.
Selling your wheat pennies is a great way to make some extra cash. With the right research, appropriate grading, and proper shipping, you can get the most out of your coins. There are a variety of places that offer great options to sell your coins, including online marketplaces, online coin dealers, local coin dealers, coin shows, and specialty auctions. With the right approach, you can make a good profit on the sale of your wheat pennies.
