Why Coin Dealers Hate Pennies And Don't Want To Buy Yours

[@michaelm7843]

"Most Lincoln Cents on the market are low grade, circulated, and dirty." Oh, Daniel, you hurt me, bro. I love my worthless Lincoln Cents.

[@donaldosborne3669]

Today I had a guy call me to tell me he had a 1970 Roosevelt dime that had no S mintmark. I gave him the bad news. Tic toc and other platforms are to blame for misinformation to the public

[@Evom777]

Tell him that he'd better go and find the thief that made off with the S mintmark.

[@antoniolen-rios8482]

Sadly, everything you are saying is true. I say sadly because lincoln cents is often where people, especially young people, start with their interest in coin collecting.

[@Silvercrypto-xk4zy]

yep. thats where i started. thankfully i had honest knowledeable people there to guide me from the beginning

[@123chesss]

This is true for 90% of the public, but I'm a seasoned collector and wheat cents are my favorite!

[@madmattdigs9518]

I still love them too. Because of some of the reasons mentioned in this video, I’ve found coin dealers are quite willing to sell me ALL their wheat cents for a good deal. Just to unload them. I can usually get them for 3 cents a piece if I buy them all. And I’ve done this several times. One guy in particular sold me 8,000 and that was so fun searching through. Because I could tell many albums were dumped into that lot. Of course I didn’t find the top 3, but I did find many good examples of semi-key dates, lots of teens and twenties. I wish he had more…

[@123chesss]

@@madmattdigs9518 How fun that must have been. I've been collecting them especially key dates for over 20 years.

[@jasonsellon4270]

Amen to that

[@MatthewTerkhorn]

Same!!

[@walterford5875]

While i understand your points of view, for myself as a coin shop owner, we love buying and selling them. Though, as you made in one of your points, we do buy and sell them in bulk. We have customers who come specifically for our bags of 500, and we make sure to explain that they came from collections, books, etc, and they should not expect to find key dates in them.

[@BlueWaterSTAX]

If I opened a bullion store. I wouldn't deal with pocket change. Silver and gold only. No nickels and cents. Thanks Daniel

[@geraldwayne6261]

So you just gave 10 reasons I only buy graded coins from PCGS mainly but have a few NGC! 600 slabs and counting!

[@anthonykaminskasbenjihunter]

The new Shield Pennies are pardon my French. "CRAPOLA". If the Mint does not do something about the immediate corrosion of these coins the new generation will not go through the time and effort separating the junk. It gets expensive just buying proofs for one coin. My two cents. Thanks.

[@jamesbuccigross6920]

It is pretty bad. I've never seen Lincoln cents corrode like the shield cents do. Definitely a problem that needs fixing.

[@bloodnthuner]

Next time someone wants to sell you their lincoln cents just tell them youre not interested rather then them not being worth much. That way you can avoid the inevitable argument.

[@MarkA-Coins]

Thanks Daniel. Cents or Pennies. What ever one wants to call them is fine with me. It's almost like someone correcting your grammer on your post if their or there should be used. Lol. I totally agree with you Daniel. Millions, billions minted and Google searches/click bait wants one to think they are rich. Extremly heavy for what they are worth. With that said, I know allot of folks start out searching through them as I did..but if one sticks to hobby, they usually graduate / learn to "bigger" things.

[@asheland_numismatics]

I agree, outside of really nice quality, high grade or certified key dates, most of them are a waste of damn time!

[@josealaniz9910]

I’m new to all this. So it’s nice to get educated. Went to my first coin show in July. It was bad experience all around. These dealers just wanted to they were the smartest on the planet. I had $1000 in my pocket wanting to pick coins I could learn from. What these dealers don’t get, they were coin stupid at some point in time. One guy said he’s read every coin there is over past 50 years. If this industry is like another, not all books agree on the same subject. I’m 64. I don’t believe I have enough time to read them all. I went into one with a Washington quarter he told it was only worth $20 and that he would give $7.50. I asked to see the ones he carries so I get an idea of pricing on different grades. He asked to leave his immediately. I found out my quarter was worth a lot more. So dealers aren’t exactly honest either. I put some them up there with the scammers on EBAY. We use to have dealer here in our town he was great. None of the dealers at the coin show matched his people skills.

[@robertvirnig638]

Yeah, we have a local dealer who is obviously a front for a money laundering scheme as they don't have much to sell and can be shown to be pretty ignorant if you try to converse with them. Mostly, they wanted to get rid of me the few times I walked in.

[@JamesKrawl]

Daniel.. Excellent, fact-based video.. While your emphasis is on common date stuff, I think, in all fairness, you should have addressed the type of Lincoln Cents dealers like to see. I am referring, of course, to a # 1 Lincoln book, filled with carefully-selected, original, problem free coins. Common dates in XF-AU, semi-keys in F-VF, and the keys in full rim good. Time consuming, and expensive to assemble, brings pleasure to the owner, and should be easy to sell when/if the time comes.

[@CoinHELPu]

I have in several previous videos. I wanted to do this as a way to grab people's attention to what cents are not valuable. Thanks

[@1priority637]

I learn so very much from you. Thank you.

[@lukehatfield8919]

I bought 5 bags of 200 wheat cents each this past weekend. The label literally says unsearched but my experience told me that wasn't true but I took them at their word. Got home and sorted them to see how bad it was. Each bag had a couple of extra cents in them, 4 steel cents each, and then one bag had the slickest 1909 plain, an 1893 Indian in another and then a couple 1919 and a 1934 in the others. It was the storefront version of those eBay "ender" rolls.

[@lukehatfield8919]

Oops forgot the main part. Ended up with 325 1944/45 p and d. And 681 p and d 1950s. The most picked over searched "unsearched" bags Ive ever seen

[@Gumardee_coins_and_banknotes]

Penny or cent, I will use both, I do not argue about it. Lincoln wheat cents are not a good design, so I move them on.

[@meatmail106]

Isn't it pretty obvious that most pennies aren't worth anything?Love your advice but its probably very discouraging for some folks but all in all i respect and trust your advice 🙏🏿

[@Supercheeseburger666]

When I search penny rolls from the bank, I'm just looking for the copper ones. If I happen to see a wheat penny in there, I'll look at the date, but if it's not in the teens or 20s, I just toss it in my copper pile

[@evoxpop2088]

I separate my wheat cents from the memorial cents. I am planning to sell my wheat cents, have lots of them, in the near future. My album is only missing 3 cents.. yeah, the real expensive ones.

[@imperialhonorguard1483]

I wouldn't even consider taking a wheat penny to a coin shop unless it's pre-1940's or just in really great condition

[@RealtorInThe828]

Thanks for wisdom and insight Daniel.

[@leroyhoward9644]

I must say thank you for the information ever since I retired and start metal detecting I'll find a bunch of these pennies and I know they ain't worth nothing I do do it for Fun 😢

[@kenfewell4200]

Crap...I was going to surprise you and give you the opportunity to buy my life's collection of pennies in a water cooler jug...NOW how am I gonna get rid of these dang pennies?!

[@markwojo727]

How much do you want for them

[@RealLifeFinance]

😂😂😂

[@RealLifeFinance]

Thought he might spend two days looking at them with you?

[@mrvrose9999]

Get over it, take them to the bank.

[@kenfewell4200]

@@mrvrose9999 lighten up dude....it was a joke.

[@bruceandrews4091]

Good informational video

[@ShirlBussman]

I know my wheats are worthless, but I love them. I guess I got them from the bank. Thanks for the video and sorry I'm so very late today, Daniel.

[@plumtree1846]

So true. Cashed in my Dad's penny collection 10 years ago for over $10,000. ~110,000 pennies; over 500 pounds. He had entire rolls of 'S' mint for various years pre 1930. However, not one 1909 S VDB. Also, no 1955 double die. Gave the money to Mom who divided it up among the grandchildren. BTW, the audio was out of sync with this video.

[@coltharwood494]

I noticed the audio sync was off also; I thought it was my computer or the connection. It is raining here.

[@lametube01]

Better dates and better coins cents or anything is important. On the cool scale cents can have great eye appeal. You can use them to make money like 1982 rolls searching for ms67 cents.

[@texas_germanic7073]

Yeah i have had a ton of ignorant people over many years saying i got a rare zinc plated 1943 wheat cent ....it is one of the top 5 complaints by dealers

[@alberthanson1971]

I couldn't agree with you more. Most of the Philadelphia Lincoln wheat cents from 1909 to 1958 are worth just a few cents each. Granted, there are exceptions, but most of those, if they're included in a mix of Lincolns, are generally low grade or damaged. Even the majority of the mintmarked Lincoln cents from 1916 to 1958 are worth only a few cents each, if low grade or damaged.

[@terryvinson7558]

Everything you say is absolutely true

[@ArneHiga]

These excess pennies may end up getting melted down for industrial uses actually. Particularly if the US does away with the penny. But this could also push up the value and scarcity of the more desirable and rarer dates.

[@jeffw1267]

I'll bet you'd like this cent I have here on my desk. It's a 1910-S PCGS MS64RB with a CAC sticker on it. And it's about 90% red. I paid $230 for it, and that was a bargain. The coin looks like a 65 to me and it doesn't have any carbon spotting.

[@lindanelson8400]

That's a nice one, for sure.

[@imperialhonorguard1483]

I found one of those in horrible condition

[@alberthanson1971]

I hope you keep that coin in a climate controlled area. None of the grading companies will guarantee that a Red or Red-Brown coin will retain its luster.

[@BlakeViltrakis]

I love your video of watch another one as well your information is so on point I love it I've been into numismatics Us coinage of all denominations also into currency notes but I'm always looking for that random error Oddball and nobody's looking for and I've had a lot of naysaying and or push back from people thinking I don't have what I have but I've done the research I go deep and I have dealt with hundreds of people thinking they've got to high-dollar error no mint mark Etc again love your information

[@Forest_Actual]

Thank you!

[@Goldding]

Thanks

[@marianmoses9604]

I know they are mostly crap……and yet I NEVER return a single wheat cent to circulation….no matter how worn, ugly, or mangled. Lol…😂🎉

[@JTCT371]

There's sellers that advertise wheat cent rolls with say, a silver dime, and an IHC on the ends. Those I don't really have a problem with. Just realize the other 48 coins are not going to be anything special....Its the channels that throw uncirculated coins on the end , have the same 48 coins in between, and claim they don't have any idea of what's in the middle, when indeed they created the roll of crap. It's very rare that you will find an "unsearched" roll of cents....I found that out through alot of experience with them. They will also bait with a tails VBD and even a worn 08S. These people's intent is to scam you into believing there will be other incredible finds in their rolls.

[@lindanelson8400]

Yep, if it looks to good to be true....

[@buyystocks]

just garbage yes,

[@JTCT371]

@buyystocks Usually common 30s, 40s, and 50s...but some don't even have the 30s in them!

[@MikeWahl-x9g]

So that's why my one dealer sells Lincoln wheat cents for 3 cents a piece. You are right there are people that is AI generated saying they (wheat pennies) are worth a lot of money because it doesn't have a mint mark. If you can't afford to buy coin pricing books try your local library and remember coin prices changed daily for the most part. If you think you have a coin worth some money take it to at least coin dealers/shops and get their option and they all say with in a few dollars they are probably right. I have quit watching some coin videos because you can hear that it's a computer generated voice. Thanks that's All I got for now.

[@Cthulhu93]

Want to get a kid interested in coins? Here's what worked for me."Hey,I'll give you 3 shiny new pennies/cents for those old grubby 1982's and olders." I now have 2 helpers.

[@gregorymartin6488]

My father (RAAF) trained with the 5th USAAF in Australia during WW2 and when he was posted to the 24th Squadron RAAF, he swapped some Australian loose change for some USA loose change with his instructor, I still have a 1943 1/2 dollar and a 1937 wheat penny but the history of the coins far exceeds any collector value...

[@paulhollier6382]

Just look on the reverse side of the coin - it is clearly labeled "ONE CENT". Case closed. It is a CENT, not a penny, even if everyone calls them pennies anyway.

[@michaelclayton2323]

But there are penny and half penny out there.

[@vincebenson1215]

So , that being said I'm looking for a 22 plain , 14 d what do you have ? Some old s dates or good condition d dates. I think can be very difficult to find.

[@flippensweet3]

I really like finding memorial rolls at auction for a good price. They are cheap to collect and very nice condition. Maybe in a few decades I will be able to help kids getting into the hobby fill their books.

[@sonnygunz9207]

What?!?!? I just shipped 6 full 5 gallon Ozarka water jugs to you, per the conversation we never had... They are 95% 40’s and 50’s, sorry no 55 double dies. The last 5% are probably foreign with hair and dirt mixed in. Go ahead and overnight them back to me. Thank you sir! We love and appreciate you!!!

[@RealLifeFinance]

Hahahaaha - Daniel will look thru them with ya for about $400 a day.

[@johnmurphy4323]

Hahaha! Ditto!

[@lonniequiroga5442]

I have started to grow a new appreciation for the Lincoln cent. I'm trying to find the best ones and this can get very costly. It's a challenge, but it's also fun. That 1909 S VDB in low grade is expensive, but getting it in high grade is out of reach for most of us.

[@jclikespam7791]

Not surprised of the list. I have quite a lot of wheaties.

[@jamessnead5301]

I have a 1909vdb and were it says in god we trust it has a lot in trust in stead of the t and it is in excellent condition.

[@robertvirnig638]

I was hoping you weren't talking about the kind of set I put together which is all BU after the 1930s and XF or better in the earlier dates. I don''t bother to keep coins I don't think are worth much unless I think they are particularly interesting like some Soviet space exploration commemorative coins.

[@michaelporter5679]

I got really lucky when I gambled and bought some unsearched BU rolls off of eBay a couple years ago. I wouldn’t do that ever again today on eBay.

[@albanesealbanese-yv2sd]

I just watched your video on penny and i collect the copper penny and i have 1.800 dollar worth of penny i.m retire and if the government say you mett them i will gave them to my grand kids and you didn,t said nothing about that.Thank Fred

[@vicperez1394]

Most coin collectors did in fact start with pennies.

[@neisjapatterson9218]

I am glad I came across this my dreams have been shattered! (Lol) My fiance tells me give up the pennies! But to tell u the truth learning the history has been fun but now I don't know where to start coin collecting but at least I don't have false hope! I love learning about it so i look forward to the next video. I'm gonna take my pennies to coin star. Lol I really wanted to prove my fiance wrong lol great to know have a good night😎

[@ErnieEstes]

What about unusual pennies?

[@CoinHELPu]

You don't look for unusual pennies, you look for known varieties and mint errors.

[@markwojo727]

Your right but they are fun to look at.

[@murlbailer3755]

If you don’t have a clue don’t buy 👍. A couple of months ago there was a guy on KZbin talking about what I would consider common quarters worth a fortune. I use a red book when I need to. I asked him where he was getting these prices,I don’t think I got an intelligent response? Oh well I know better ✌️.

[@maureenharkins8298]

Hi I only watch you your very honest I have wheat pennies 1944 I have a couple of wheat pennies do they any value I will not buy r sell on line I have a couple of 1950 wheat pennies how do I find out if there is any value in them please let me know if you can thank you

[@CoinHELPu]

kzbin.info/www/bejne/bGqwqWB5e8iXa7M

[@josepha9313]

Well, there's still not too many US coins over 60 years old you can buy for 20 bucks in PCGS 65 or 66. What would you say the "hot" US coin is right now according to what you see in your shop?

[@coltharwood494]

A few months ago my cousins husband died and she asked me to sell his coin collection. She said there were several thousand coins and that about 20 of them were gold. A friend of hers told her they were worth tens of thousands of dollars based on what the friend saw on eBay. When I looked at them the gold coins were plated "coins" from an ad placed in the back of a magazine. There were gallon jars of wheat pennies, some mint sets and 18 Morgans. I took them to a dealer in Maryland and he gave me about one fiftieth or less of what my cousins friend had said. She was very disappointed and thought the dealer ripped her off. I told her to check out your channel to learn the truth about coin values.

[@vincebenson1215]

Depends on the coin . could be there were great condition ones or a 1909s or even vdb. That ups it tremensu

[@AmyMize-o3m]

Thank-you and yes so many videos claim coins to be in the upper thousands to a million. Getting the hopes up for so many people.

[@fredrickrepper8862]

What about 1909 vdb s that they are selling for 2600.00

[@CoinHELPu]

My video isn''t about key dates. I explain this in detail. I explain why dealers hate pennies not why they like them.

[@quarter-py4nr]

Most pennies are not high end. Better condition coins demand more money. Several key dates in good condition are expensive. I like complete sets. I’m guessing I am wrong again.

[@EmilyTienne]

But the ad said they were unsearched. Why would they mislead me? 😅 In truth, the reverse design is so bland and uninspiring. The only thing worse is the current shield design. No artistry whatsoever.

[@kevinhayes7967]

I like pre 1982 pennies just based on the copper content.

[@dmitrypopenko1129]

What about the 1910s Lincoln cents in MS grades?

[@fredrickrepper8862]

Have dimes with outside clad that didn't stay it bubbled up and you can't see date

[@UneducatedGeologist]

I did a personal test. 2hrs searching random rolls - got thru 28 rolls 1400 pennies. 4 late 50s wheat cents and about 2 dozen AU red 1960s and 70s cents. Also 6 foreign coins. And 1 canadian dime. Never Again at this age will I waste 2hrs of my eyesight and time. I'd rather napped. 😂

[@RealLifeFinance]

I did about 10 rolls a while back and shockingly got a late 1800s indian cent and a couple wheaties.

[@giegie6283]

Thank you Mr. Daniel. Have a good day. God speed.

[@jasonsellon4270]

Lol I love the things and I will buy them for three cents apiece all day.

[@thecoinbot]

I am working on a solution to the sorting issue! 😉

[@robertscagnelli1011]

Thankyou Daniel!

[@marymastromauro8164]

Good morning Daniel, great video!

[@paulvincent3825]

👍👍👍👍👍👍👍👍💰💰💰💰💰

[@RealLifeFinance]

I started collecting at age 8, 48 years ago and it was pennies. I still have many. Thank goodness I moved on to Barbers and Indian Gold or I'd still be playing with something worth very little and there's Kabillions of.

[@freekingawwsome]

Lets make cents , even its a penny for your thoughts and you put your two cents in - who gets the extra penny ? 😆😅

[@420jacksonian]

all the videos coming out with ai completely misinforming people about coins is bugging me , ive even read ai generated articles about coins that wrong about everything stated . ai is gonna ruin collecting !

[@brentbeavers6743]

I’m trying to show you a penny and I don’t know what it is but I can’t figure out how to send it to you on a phone

[@CoinHELPu]

Why are you not watching my video? I tell you where to get help from me in my video.

[@RealLifeFinance]

100% agree with you. Maybe a solution to keep this from eating up so much of your time. Create a Pennies Link thta Lists ONLY the pennies you'll entertain looking at to buy. Eliminate the other 95% from taking up your precious time.

[@Cthulhu93]

Wait,so a 1922 no "D" is worthless now? But yeah,"no mint mark errors" aka Philadelphia coins are all over E-bay for big money.

[@CoinHELPu]

Yes, 1922 No D isn’t a Philadelphia Mint that wasn’t supposed to have a mint mark. You missed the point.

[@Cthulhu93]

​@@CoinHELPuYeah,I probably did. Lately I've seen people crapping on that 1922 no "D" and I can't figure out why. I apologize for my confusion,I'm a highly medicated old guy and it happens a lot.😅

[@jeremyhubbard480]

The Lincoln cent or pennies (whichever) is such a double edged sword my friend. I can't agree with you more. It can be soo much fun to collect, enjoy and learn about in this hobby. It truly is sad that bad people have used this coin to mis-inform thousands of people. I myself really Love my Lincoln cent searches and roll hunts. I marvel at the nice ones I find scattered amongst the piles and seek guidance and confirmation for ones with possible errors or varieties. In the end it's truly the individual that isn't willing to accept the truth that puts such a bad taste in the mouths of teachers of this hobby. It is very sad, so I agree 100%.

[@The_Turd_Ferguson]

i dont want to sell pennies for more pennies. Worthless.

[@vincebenson1215]

I go for condition and key dates. Just about the rare stuff. If its worn and most are. Something damn near perfect from mid thirty s back is bigger money cause you have to go find it. In other words a 1914 d is going to be more and is . its just is it legit and why are they selling it. Yeah people think they are rare and worth a lot of KZbin crap videos saying theyre worth say thousands

[@CoinHELPu]

I think you're already cooking up your comment in your head before you watched all the video and during the video, because I explain why dealers hate cents, this is not about why they like cents. I explain exactly what cents are too common and not worth much. Coin dealers know the money coins, they obviously don't hate them, but that is not what this video is about.

[@johnnyb3126]

Id like to get one high grade Lincoln cent in red condition 👍

[@bukboefidun9096]

I save them as copper. Exception being pre 1930 and some MMs dates 1940 and newer.

[@RealLifeFinance]

Same. Been doing it for years, hey what percentage do you see pre 1982 in your daily change?

[@bukboefidun9096]

@@RealLifeFinance I find it's around 20%, has been for 2 years. I get 10 per roll average. 132 to 133 grams preopened weight

[@brianhagler4490]

I agree. I have so many wheat pennies to go through, I probably won't ever finish, especially having a hour or 2 on a Saturday afternoon. I do think there is value in them in the context of teaching new collectors, especially those teaching grandkids etc. about collecting. Even that is fading because of the age we are in- kids have games, phones to pull them in and they aren't interested in it at all.

[@jamessnead5301]

I meant to say it has a l instead of the t in trust.

[@SHAWNDAVIS-rh9ic]

There's no coin more awful than the Lincoln cent.

[@bjanks00]

Don't forget the inevitable verdigris. I still like them though 😅

[@DrMatey215]

Good day to you Dan! I wanted to let you know about a screw up made over the weekend. I sell on eBay (small time seller). A man purchase a 1943 walking Liberty from It's graded AU58. Well, before I sent it out I had to remove sticker off the back of the slab. Normally I would use lighter fluid, but, I couldn't find it. Sooo, I grabbed the bottle of acetone I have and put a little dab on the corner of a paper towel. Well, it took the sticker and off, but the little dab I used spread all over the upper half of the slab and..., it ate right through the plastic! OMG 😮.If the man complains to me and wants a refund, I'll tell him to keep the coin and I'll refund him $10! Dang, I was so mad at myself, but we live and learn right! Take care! Your channel is top notch and I really appreciate you sharing your knowledge!

[@UneducatedGeologist]

Be cool if the govt set up centers and would buy back all pre 1982 cents for 3c each. And stopped making the crappy new ones that corrode in a few ahort years.

[@timothydean]

I'm so depressed now probably gonna quit

[@vincebenson1215]

It says cents on the coin. Pennies are English

[@annette22177]

T.y. dan 👍🙏🙏✌️🇺🇲

[@chaicharin]

My feelings on the wheat cents is that it is an entry point for many collectors since they are affordable. They take forever to sell on Ebay.

[@terryburner1511]

So true.

[@Watchingstuff-oc3qu]

I'm a collector, kinda new, but i need all the cents! i dont have em yet, and i dont wanna coin roll hunt thousands of pennies, i need a lcs that has the cents i need. unrelated i gonna go on a buffalo hunt soon, i need some buffalos, i need all the coins cuz im obsessed now. peace out yo

[@TheTrueSonOfFire]

Yeah ive got nearly a whole box of 2019 zincoln loomis rolls and moving them around got old quick. 😂😂😂

[@justincowden4063]

So my 1909 s and 1931 s is worthless and all the teens s mint mark ones are worthless

[@CoinHELPu]

You didn’t even watch the video. Lol

[@User8893-m1f]

What we do with our coins l have a lot from 1931 to 2024 us and Canadian we throw it

[@CoinHELPu]

Spend it or exchange it.

[@gypsy1962]

Don't sell your 1909-S VDB to dealers. Don't allow the crooks to cherry-pick your collection.

[@CoinHELPu]

You missed the entire point of this video. I pay strong for key date cents.

[@michaelp772]

I have all my wheaties separated by date and mintmark.

[@FoxValleyStacker]

i bought a roll of pennies once from an auction of a hoard. they are each BU with lots of reds, but one by one it added up to maybe +10 bucks. i stopped pricing each one about half way through the roll because as you said you can maybe squeeze a few bucks out of them. never again for me, however there are loads of one cent coins that make up for the abundance of wheaties, like the varieties of large cents, flying eagles, indians...

[@SnyderEMarx5]

If you don't know that no mintmark Philadelphia pennies are the most common, stay away from coin collecting.