Leaving Coins in Mint/Bank Rolls

[Jim Beam]

I apologize if my questions have been addressed somewhere else but here goes: I keep most of my purchased bank rolls and US Mint rolls of coins in their paper roll and I then place the roll in a Numis or CoinSafe square coin tube. I am wondering if this is a good/safe thing to do as I am thinking the paper contains acids and this can cause some real issues with the coins. My questions are: a) is the paper hard on the coins and should they be removed from the paper?; b) do you store your rolls in the paper or remove them? c) what do you see as the advantages or disadvantages of leaving them rolled or breaking them out? Thank You.

 

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[TJ'S Coins]

This is a good question, important to many of us. I have wrestled with the same thing.

 

The paper on the rolls will impart toning. This will also depend on the coin composition as to how reactive it is to the paper. The best example is a roll of 2005 Pacific nickels. I opened a roll from the mint to give some away. About five remain in the original paper. They have a golden toning developing on them.

 

The new Presidential dollars are treated at the Mint to withstand the toning common to the early Sacagewa dollars. I've been picking up a roll at the bank of each Presidential dollar. I have not noticed any toning on them.

 

Many like their coins pristine and shiny. If so, take them out of the paper rolls. Others of us like toned coins. It is somewhat of a gamble to know if the toning will be attractive or ugly. That's a risk I'm willing to take by keeping them in the original rolls.

 

The disadvantage of keeping them in the rolls is that you do not know if you have an error coin or some other desirable rarity. I'm not sure there will ever be much of a market in our lifetime for Presidential dollar coins. Too many have been minted and not circulated. There are a lot of mint state unc coins available. The real challenge might be to find an attractive circulated Presidential dollar.

 

Let us know what you decide to do with your rolls of coins.

 

Where do you call home in Iowa? I spent ten years in Indianola.

[James_OldeTowne]

As Tim explained it, paper rolls will tone coins. Therefore, tubing the coins is your best bet to keep them pristine.

[Jim Beam]

PM Sent

[cpm9ball]

I have 110 rolls of the Westward Journey nickels that have been stored for 4-6 years in various ways. There are 60 Mint-wrapped rolls that I have put into the Coin-Safe tubes to keep the wrappers in pristine condition. I've noticed some toning on the end-rollers. There are 50 OBW rolls that I've stored in a cardboard box without coin tubes, and there doesn't seem to be any indication of toning on the end-rollers.

 

I also have 2 - $50 bags of the Return to Monticello nickels that have never been removed from the Mint boxes. I wonder if there will be any "goodies" in there for Shane?

 

It's my guess that the Mint's subcontractor is probably using acid-free paper for the wrappers.

 

Chris

 

 

[okbustchaser]

Question (tangential to the OP, but along the same lines.)

 

What is the reasoning behind collecting coins which will never see the light of day? I'm sure there must be one since so many collectors do it, but why?

 

Same thing with mint sealed proof or mint sets. What is the person collecting...envelopes or coins?

[cpm9ball]

Question (tangential to the OP, but along the same lines.)

 

What is the reasoning behind collecting coins which will never see the light of day? I'm sure there must be one since so many collectors do it, but why?

 

Same thing with mint sealed proof or mint sets. What is the person collecting...envelopes or coins?

 

Just think! 150 years from now they will be beautifully toned, each coin will be worth $250 and, hopefully, eBay won't be around any more.

 

For the heck of it to see what happens.

 

Chris

[Jim Beam]

Your question is a reasonable one. For me personally, I do open some of the rolls I purchase because I am a collector. My plan is to pass my coins on in the family some day. While I may or may not be around, I like to think about all the fun and anticipation my 11 (to date) grandkids will have some day opening all these rolls. I really think a couple of them may carry on the hobby - at least I hope so. In addition, it may give me something to do if I ever end up in a nursing home at some point!

[coinman23885-migration]

I did keep the coins in their original bank wrappers, naively believing that they would bring a premium; however, many freight carriers also sell their coin wrappers along with the crimper. For instance, in my region, N.F. String and Son rolls most of the bank rolls, but you can buy the wrappers and re-wrap them to make them appear to be an original bank roll.

 

I have yet to complete this, but I am removing them slowly and placing them in the Coin Safe tubes. Your concern over acid is well founded. I also have a couple of rolls in shrink wrap that I am watching; I'm should probably remove them because I am willing to bet that the armored car companies could care less about PVC damage.

 

P.S. This advice applies mainly to copper-nickel coins or their analogs. It is my understanding the silver coins tend not to react as harshly although some do develop ugly patinas.

[cpm9ball]

Don't ask me why, but some people are willing to pay a premium for the rolls if they are in the original Mint wrappers.

 

Chris

[Jim Beam]

As usual, you all come through with great information. I should have mentioned the coins I am talking about are primarily the State Quarters, the Westward Journey Nickels, and the Presidential Dollars. Many of the quarters and the nickels are not only in their rolls, they are in the unopened Mint boxes. have any of you opened a Mint box of coins that you have held for 4-5 years or more? If so, what are you finding? Like Chris stated, I am also seeing some gold toning on the end coins in some of the nickel rolls. Others of you indicated problems may be more prevelant with the nickels. I am not concerned about toning. I just don't want to open a roll down the road and find a pile of powder in between the end roll coins!! My coins are stored in my vault and in a cool/dry environment which I think is appropriate. Appreciate all the responses.

[coinman23885-migration]

Don't ask me why, but some people are willing to pay a premium for the rolls if they are in the original Mint wrappers.

 

Chris

 

The theory is that there may be gems and errors in the rolls; however, you are right. It is tantamount to playing the lottery: pay a significant premium and you are likely to get burned.

[cpm9ball]

JB,

 

Unfortunately, you won't find many basements in South Florida because at 9' above sea level you would have an indoor swimming pool. If I did live in an area where I could have a basement, I would probably store a few duplicate sets still in the unopened boxes down there to see what would happen after a few years.

 

Chris

[bsshog40]

I have some rolled coins also and like to keep them that way. The only reason I have them is the mint roll. Coins do not have to be individual in order to still collect them. Rolled coins, as far as I'm concerned, are a collection by themselves also.