Penny Collection
I have a set of wheat pennies from 1934-1958, what are they worth?
I received a wheat penny collection as a Christmas gift about 10 years ago. I tucked it away and forgot about until now. I’ve been looking at different websites and have found conflicting prices. Can anyone out there tell me a close guesstimate of how much they are worth? They are all in very good condition; meaning they don’t have any scratches, they’re just a little dirty. I don’t want to clean them just yet, since I have no idea of what would need to be done. I don’t want to ruin them. Everything on them is very legible. I’m pretty sure they have been circulated though.
Without seeing pictures it’s very difficult for anyone to give you a good answer. Many factors play in to how much your coins are worth (i.e. condition, scarcity, mint marks, current market demand, etc.)
1 – Take your coin to a local coin dealer (trustworthy ones can be found – shop around). It never hurts to get a second opinion. They will be able to tell you so much more by evaluation the condition of the coins. They will also know the amount minted and what it is going for in today’s market.
2 – Try posting pictures on this website (there are many experts here that can help you evaluate it – there also may be people willing to buy if you are trying to sell):
http://www.coincommunity.com/forum/default.asp
3 – Repost this question and include pictures. You can use websites like http://www.photobucket.com and include the link in your question.
Good luck!
P.S. Mercury is poisonous and will destroy your coins (they stay silver for a while then turn black). You should not clean your coins. Most coin collectors see cleaning a coin as the equivalent of stripping down antique furniture and refinishing it.
When cleaning, the surface metal of the coin is often stripped. Anything used to scrub the coin will leave scratches (even 100% pure silk will leave hairline scratches). Most cleaning products will have some type of reaction with the coin’s metal and the surface metal can also be removed in this manner.
Your best bet is to leave the coins alone. Cleaning the coina will leave traces – which can be found by the knowledgeable collector – who in turn will not buy the cleaned coin. Also if you ever wanted to send your coin into a grading company, they can recognize signs of cleaning and will send your coin back in a “cleaned” slab (also called a “body bag” in the coin world) – which is usually a greatly decreased value.
If you absolutely must must must clean your coina do not use the method described above as it will react with the metal in your coin. Use 100% acetone (do not use fingernail polish remover!). It must be 100% pure because other additives will react with the coin metal. Place your coin(s) in the solution for several minutes (do not leave in for long periods of time). Rinse your coin(s) in distilled water. Next remove your coins and either pat dry with a soft cloth or allow the coin to air dry (air drying is better as you don’t risk scratching the coin with the cloth). NEVER scrub your coins!
I would still advise you to leave your coins as they are. They may not be bright and shiny but that is what most collectors prefer.
US coin collection p.1 Penny’s
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