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Author Topic: How many wheat cents are left in circulation? Here is one guess  (Read 5183 times)
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« on: May 19, 2008, 02:04:53 PM »

How many wheats left in circulation?

Here is a question I have often wondered.  How many wheats are in circulation still? First we need to know how many cents/pennies are in circulation. Here is one estimate

http://www.kokogiak.com/megapenny/twelve.asp

So, 200 billion pennies.  How many are wheat cents?  Since Jan 1, I have searched  384 dollars of pennies.  That is a little over 15 boxes or 38,400 cents  And in those boxes and rolls I found 57 wheat cents

So the math works like this. 

That is one wheat per 673.6842105 cents searched.  Using 200 billion as the base that tells us that there are 296,875,000 wheats left out there to be found. 

Total wheat production from 1909 to 1958 was 25,789,366,876.

That means that 1.151% of all wheat production is still at large!

Happy hunting.

OK, I know that this is full of holes, but I bet it its you thinking.

Additional info

Of all those boxes, 4 total boxes were totally void of pre 1982 cents.  They were presorted of copper cents but I included them anyway

If I included boxes search three years ago the total would be higher.  My last several boxes hardly have any wheats as they seem to be going away.
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acanthite
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« Reply #1 on: May 20, 2008, 05:55:25 AM »

If I use the more relevant data, that being recent roll searching (within the last 2 years), I average 1 wheatie per 6 rolls.  It is fairly consistent, and I've probably searched over 150,000 cents.  This figures to one wheatie per 300 coins, about twice the success rate you calculate.  My estimate would be therefore that over 2% of the original population are still around, using the same logic.
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Topher
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« Reply #2 on: May 20, 2008, 06:39:15 AM »

Then you have to take into account all of the wheaties that left the US.  I usually get anywhere from 5-15 in a box of pennies up here in Canada.
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acanthite
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« Reply #3 on: May 20, 2008, 07:15:35 AM »

Then you have to take into account all of the wheaties that left the US.  I usually get anywhere from 5-15 in a box of pennies up here in Canada.

It's a Canadian conspiracy.  Give them back!
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pocketcoins
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« Reply #4 on: May 20, 2008, 12:40:17 PM »

Now I know why I find so many Canadian pennies around here.  Grin
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Topher
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« Reply #5 on: May 20, 2008, 02:58:22 PM »

Now I know why I find so many Canadian pennies around here.  Grin

And if you want to hoard copper, then you can keep everything up through 1996.
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AdamL
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« Reply #6 on: May 20, 2008, 05:30:14 PM »

acanthite's figures are closer to what I find.
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« Reply #7 on: May 20, 2008, 07:22:04 PM »

Then you have to take into account all of the wheaties that left the US.  I usually get anywhere from 5-15 in a box of pennies up here in Canada.

5-15 wheaties per box?  Or did you mean 5-15 US pennies per Canadian box of pennies?
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Gilligan
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« Reply #8 on: May 21, 2008, 06:37:34 AM »

5-15 wheaties per box?  Or did you mean 5-15 US pennies per Canadian box of pennies?

5-15 wheaties.  Lately it's been closer to the 5 than the 15.  I get probably 100-150 Lincoln cents in each box, sometimes more, and have had plenty of rolls that have more than 10 Lincolns each.  (One roll had 17 Lincolns in it!)  I think what happens is up here people see the US cent, and ignore the fact that it's a wheatie, so they keep it circulating until someone like me comes along and "rescues" it.
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« Reply #9 on: May 21, 2008, 08:47:42 AM »

5-15 wheaties per box?  Or did you mean 5-15 US pennies per Canadian box of pennies?

5-15 wheaties.  Lately it's been closer to the 5 than the 15.  I get probably 100-150 Lincoln cents in each box, sometimes more, and have had plenty of rolls that have more than 10 Lincolns each.  (One roll had 17 Lincolns in it!)  I think what happens is up here people see the US cent, and ignore the fact that it's a wheatie, so they keep it circulating until someone like me comes along and "rescues" it.


To expand on Gilligan's question/comment, that is interesting.  Do you live near the border? Or due to exchange rates the US cent was valued higher and people accepted them?  I am curious on why the amount is so high?  I say high because for each box of pennies I search, I usually see only 1 to 2 Canadian cents.  I am down in Denver, a long way from Canada. 
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Topher
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« Reply #10 on: May 21, 2008, 10:54:58 AM »

I'm in Toronto, so 1.5-2hrs from the border.  I Keep all Lincolns anyway, just in case I come across a wide AM variety, or something like that.  So far, no major varieties that I can report.  Sad
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bill
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« Reply #11 on: May 22, 2008, 10:15:31 AM »

If there are really nearly 300 million wheat cents left, or nearly 600 million using acanthite's numbers, that is a lot of pennies left to find.  Taking the number supplied by the link, I would bet most of those are stored away somewhere.  If you took the 200 billion and the 300 million US residents, that is about 667 pennies per person.  That seems way high.  So I think in reality, the total wheat population in active circulation is much lower and most of the wheat cents are in Kingpin's barn
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AdamL
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« Reply #12 on: May 22, 2008, 05:14:15 PM »

and most of the wheat cents are in Kingpin's barn

LOL!
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nowi
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« Reply #13 on: May 23, 2008, 06:08:06 AM »

great info.  Now what about silver dimes, quarters, etc.  How many of those are still out there?
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Kingpin
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« Reply #14 on: May 23, 2008, 06:39:25 AM »

and most of the wheat cents are in Kingpin's barn

Every now and then I find a silver dime in circulation. I think most of the silver coins were cashed in back in the early 80's when silver went above $50.00 oz. I do believe there is still alot of silver sitting in old "piggy banks, jars and coffee cans. Heck, I just found 3 old silver quarters in and old coffee can in my barn. LOL.  " Bill, your killin me" LOL!  Grin  kingpin
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