How to Sell Wheat Pennies
Because of their ubiquity, wheat pennies are one of the most collected coins in the U.S. As a tribute to Abraham Lincoln, the U.S. Mint released the first wheat penny in 1909, exactly 100 years after his birth. Although most wheat pennies are worth less than 5 cents, a few are worth up to $250,000. If you plan to sell wheat pennies, you must take important steps beforehand.
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Instructions
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Keep the pennies in good shape. Pennies in mint condition can net twice as much as rusted or worn pennies. If your wheat penny has already suffered significant damage, consider using the services of a professional coin restoration company. Coin restoration will not bring back the luster of a newly minted coin, but it can remove rust or soil.
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Learn the value of the coins. You must educate yourself about the values of the coins beforehand to avoid being ripped off. Although most wheat pennies are worth less than 5 cents, pennies from 1909, 1914, 1931, 1941, 1946, 1951, 1952, 1955, 1956 and 1958 could be worth much more. Furthermore, 1943 copper pennies and 1944 steel pennies could be worth up to $250,000 because the U.S. Mint accidentally made those coins.
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Have your coin graded and appraised by a professional coin dealer. Since you have already completed step 2 and done your own independent research, you should have an estimate of your coin's value. But visiting a professional coin dealer will give you a more precise estimate. Always feel free to seek a second opinion if you are ever in doubt.
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Find a reputable numismatics buyer or company. Visit coin collecting websites, numismatics forums and magazines to find a reputable coin dealer in your area. If you find a company that you are unsure of, look up the company on the Better Business Bureau's website or research the company through a Google search.
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Consider selling online. Ebay.com is one of the most popular sites for coin collectors and sellers because of its ease of use and large audience. Nevertheless, although you can reach millions of people through Ebay, do not limit yourself. Try other online sites, such as Craigslist, Heritage Auction Galleries, and the dozens of other numismatics sites on the Internet. Just be sure to research the company before selling your penny.
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