Re: Unopened Bank Wrapped Rolls?
- From: Eric Babula <ebabula@xxxxxxxxx>
- Date: 31 May 2006 14:42:45 GMT
"Harv" <harv@xxxxxxxxxx> wrote in
news:C9hfg.9253$9W5.449@xxxxxxxxxxxxxxxxxxxx:
"Greg Simpson" <me@xxxxxxxxx> wrote in message
news:127q2qq6tlo2a57@xxxxxxxxxxxxxxxxxxxxx
I recently purchased from an internet coin store, unc. unopened
original bank wrapped rolls of silver coinage. When I received the
3 rolls of coins, it was only too obvious that one side of the
roll had been opened and then poorly re-curled back to look
unopened.. Another indication is that for the age of the coins,
there should be toning on outermost coins, there was none.
One side of the roll was original and tightly rolled as they did
40-50 years ago. The other side was loosely re-rolled to "look"
original. Therefore, this is an outright lie. You might say a
lesson learned. I will never again purchase so called unopened
bank wrapped rolls sight unseen. I would also caution everyone
else to be aware of internet coin dealers who offer this type of
deal unless you are completely comfortable with their honesty.
A couple'a few years ago I bought an "unopened bank roll" of Unc.
1964 Kennedy halves offa some eBay seller. I think I paid about
fifty bucks for the roll back when Silver was less than half the
price it is now. After I got the roll and opened it, it was obvious
that although the coins were uncirculated, nearly every one of them
had fingerprints on them. Old fingerprints, the kind that cause
faint gray ghosts to develop over many years. I was, to put it
mildly, pissed.
Last week, though, I had the opportunity to help a Mom and daughter
(who I've known since High School in the mid 1960s) go through a
hoard of rolls of Silver that the late Dad had stashed away over
forty years ago. These rolls contained both circulated coins, and
also MANY bank rolls which were absolutely never opened since he
had bought them in 1964. They were all original paper bank rolls
that had been stored in (clean) socks in a floor safe in their home
since the Dad had bought them. No one in the family knew what he
had stashed away and not a single roll had ever been opened before.
It was obvious after opening some that these coins had literally
never been touched or searched since they were rolled. Most of the
rolls were had folded ends that were taped shut. Very old Scotch
tape that had yellowed, pre-dating the "Scotch magic tape" that
came later. No fingerprints at all on the coins in the BU rolls.
The Dad had stashed away I don't even know how many rolls of coins
and we sat there for six hours opening them and tubing them and I
guesstimated about $500.00 face and somewhere between $5000.00 and
$7000.00 just in raw Silver. Obviously worth a lot more than that
since there were many absolutely GEM BU solid rolls and ALL of
those were 1964-D dimes, quarters, and halves. There were also many
"put together" rolls of circulated Franklins and WLHs.
The two women knew absolutely nothing about coin collecting - and
these are not stupid people, but coins were simply not their thing
- they didn't know a Kennedy half from a Franklin half or a
Roosevelt dime from a Mercury dime. and I gave them a crash course
while we were opening these rolls and tubing the coins - how to
handle them, why it would be insanity to just turn them into a bank
for folding stuff, what it was all worth, and what the GEM rolls
and individual coins were potentiall worth if slabbed.
Anyway, I shot a picture while we had all of it laid out on a
table:
http://www.amigazone.com/images/june/yow.jpg
Everything you see on that table is Silver. The coins in piles are
circulated. The ones in flips and white tubes were from the solid
BU rolls.
I'm going to make them a reasonable offer on a few of the rolls of
GEM 1964-D quarters and 1964-D halves. ALL of the BU rolls were
1964-D coins. I honestly don't know if there are any MS67s of
either in this hoard, but with PCGS, at least, the leap from MS66
to MS67 means an enormous leap in price. From like $20 to $50 per
coin in MS66 to almost $2000.00 per coin in MS67. It's a gamble of
a couple hundred bucks in grading fees I'm willing to take to see
if I can get even a couple MS67s out of a few rolls.
This was one of those rare opportunities to open rolls whose entire
history was entirely known since they had had only one owner and
came directly from banks, at face value in 1964, not from dealers
or other collectors who could have pawed through them and re-rolled
them, as with that roll of 1964 halves I bought off eBay. When she
dragged the socks full of rolls out of their safe and we started
pulling out the rolls and opening them, I was quite literally
speechless.
Harv
That's a great story, Harv! I wish I had relatives like that, who would
give me those coins!
--
Eric Babula
Milwaukee, Wisconsin, USA
Current auctions by mystr-e:
http://tinyurl.com/6tyal
.
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