Bank Rolls (UNC) - New Member question

[DonDE-migration]

Posted this in “THE WATERCOOLER” forum to see if I could find the appropriate forum for discussion. All help would be appreciated.

 

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Point me in the right direction for posting this.

 

Have quite a few bank-wrapped rolls of coins minted in the late 50's and early 60's.

 

Do I break the rolls and submit what I think are the best choices for grading? Accumulation consists of Lincoln, Jefferson, Roosevelt, Washington and Kennedy.

 

Sure there are some high MS in there, but since these are not key dates would it

be worthwhile?

 

Since I have more than just a couple of rolls, wanted to be directed to someone who could give me some specifics. Didn't see the need to list them all in this post.

 

General date range. Mints are primarily P with some D. Condition, I'm sure, would be MS 63 and up. Rolls are BU Uncs.

 

Please bear with me on this. Just looking for answers, either here or another forum, from anyone who has done this with large quantities of unopened rolls.

 

Thanks in advance for your help.

 

DonDE

 

[cpm9ball]

Hi, Don! Welcome to the neighborhood. First, placing this thread here or in the U.S. Coins forum is fine, but if you wish to sell any numismatic items, we have a forum called the "Marketplace" specifically for that purpose. Don't worry if you should unknowingly post something in the wrong place. There will surely be someone to steer you in the right direction.

 

As for your rolls, it might be a good idea to refer to one of the price guides to get an idea of what the values may be for specific coins in higher grades. Obviously, there is no point spending money to slab a coin valued at $25. $50? $100? More? That would have to be your decision. You may also want to refer to the Cherrypicker's Guide to see if there are any varieties from each date/mm that may be of particular interest.

 

It would be helpful if you could list the denomination, date and mintmark of each roll. Otherwise, all you could expect is replies in general terms.

 

Chris

[jtryka]

You might be better off breaking some open and looking for high grades or varieties, since the timeframes you mentioned have the unusual characteristic of being smack in the middle of a huge craze in the 1960s for BU rolls of coins. There was actually a huge bubble where people were bidding high prices for BU rolls of relatively common coins, and when the bubble burst, a lot of those rolls went back to the bank, but a lot stuck around. I have BU rolls of cents from 1959, 1960, 1965 and 1966, and when I bought them in the 1980s they were less than $2 per roll (most were $1 or $1.50). I have 5 rolls or so of original bank wrapped 1960-D Roosevelts that I bought for melt, and the 1964 Kennedy halves are about the worst, since everyone and their brother saved them (the several rolls I have I bought for melt). I would look at what rolls are bringing on eBay, and there are several advertisers in Coin World that list buy prices for rolls in the classifieds, for those that are low priced, I would break them open and look for treasure! Good luck whatever you do!

[Houston Investor]

You might look at ICG's service where they take a roll and only grade and encapsulate the coins if they make your specified minium. Your are not charged for the ones that did not make it. A great deal.

 

I did this awhile back with a Franklin roll collection I bought for practically nothing. Hopefully they still do this. Made money on these many times over even the ones that did not make it as I put those in new "BU" rolls and blew them out on the Bay when silver was around $20.

[EZ_E]

Many dealers created complete album sets and need specific rolls. I'm sure that they are getting harder and harder to find. A dealer will try to low ball you, though, most likely.

[James_OldeTowne]

First of all, Welcome to our friendly little neighborhood!

 

My past experience shows that it is likely that large accumulations of OBW (original bank-wrapped) rolls tend to contain many high grade coins that individually can be quite valuable. Unfortunately, to figure out exactly which coins those are requires individual hand-inspection of every coin (meaning A LOT of coins!), and nobody wants to do that for free. It is tedious, time consuming, and to be honest - boring. Therefore, it is also expensive.

 

What this all boils down to is that, having been there myself, it is not in your best interest to submit a huge hoard of coins to a grading service for the purpose of having them find the handful of truly high grade coins that will be valuable enough to make up for the cost of submission. It's the proverbial "needle in the haystack".

 

The only way I know of for folks to make money from high-grade moderns is to look through the thousands of coins yourself, carefully filter out the very best examples, and submit just those. If you are a good grader and your rate of success in detecting ultra-high grades is high, then you definitely can make money this way.

 

Hope this helps!

[DonDE-migration]

Thanks for the reply, Chris.

 

I am a member of Coin World and have used their guide for pricing. I could pretty well handle a few rolls to pre-evaluate myself. My problem lies in the fact that I have so many that need to be inspected that time constraints just do not allow it. Hence, my appeal to the forums.

 

I will check the Cherrypicker's Guide to locate any potential submissions.

 

I am not trying to sell at this time, just starting to re-assess my collection and looking for general help on future selling and slabbing.

 

Thanks again.

 

DonDE

[cladking]

Most of these rolls are very cheap. If you have a large number of any one roll you might spot check to see if there are any varieties or gems and if not sell the rest. If there are or some near-gems then search the rest.

 

There is little value to keeping these rolls intact probably though you can get a small premium for OBW rolls if you want to merely capture this premium.

 

I'd break them open and look through to see if any are especially nice. You can post pictures here before sending them in if there are contenders. Don't forget to look for varieties since these can be quite scarce and valuable.

 

Most rolls are from that era so there has been an ample supply for decades. This could change but I'm not going to hold my breath waiting since many people like OBW's and will keep them.