Unopened bank roll questions

Hey guys I’m not new to coin collecting but I just started up again. It’s been fun going through regular bank rolls, but I recently made the bad decision of buying an “unopened bank roll” 1910- 1919 wheat pennies. Of course all I got were a bunch of g4 same dates,( mostly 1919), it only cost me 20 bucks, but I have some questions for the community.

1. What are the chances that a roll online is actually “I searched”

2. Where does someone actually acquire a pre-65 unsearched roll of coins ( personal experiences. Estate sales, lockbox auctions etc etc.)

3. When buying newer UNC rolls of coins (1965 and beyond) what are the chances of an ms66 and above coming out? ( in your experience)

Thanks in advance for any answers!

Ps. What’s the best coin you’ve cracked out of a true OBW?

 

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Unsearched bank roll... 20 bucks only... too good to be true... sounds like a scam, right?

 

Unsearched bank rolls?

 

Yeah, sorry, unsearched, it definitely was a scam. I didn’t watch the proper Youtube videos before getting back into the hobby. lesson learned I guess.

 

yeah unsearched, scam for sure.

 

If you learned that at only $20, consider yourself lucky. Some of us took a bit longer and spent a bit more before we came to our senses.

1. No such thing as unsearched, just assume that.
2. It's not easy to do this. It'd be much cheaper for you to just buy one UNC version of a coin you're looking for.
3. High MS is possible but not likely in most rolls, especially for older ones that have likely changed hands time and again. I recommend just buying an MS66 of whatever you're looking for.

 

When you hear "unsearched" rolls, ask yourself one question. Unsearched searched by whom? Especially Wheat Cents.

 

IIRC the 1st patent for a coin wrapping machine is from 1913 and they didn't become common until the 30s. So how would a so called OBW contain only 1910-1919???

You can buy old stock and reproduction wrappers...

 

I have a bridge..... for sale... with a great location !

 

So I bought a set of three 1977 d UNC LMC, been looking through them for a high grade coin, only opened one, found some that are great, but not ms 68 great, only spent 11.50 including shipping on it.

 

Proper YouTube videos? Those exist? Seriously, you're far better off not watching any YouTube videos about coins.

 

if you're going to be sarcastic, use a smiley face...

 

There are a few good coin videos on YouTube. All you have to do is type in the search box "Coin grading process" and videos by PCGS and NGC will show up. Some are quite interesting. Other than that, I agree with you 100% that the vast majority of videos are useless. They're filled with so much BS about how to make money but the only one making money is the one who posted the video.

 

At least you didn't buy one of those "original" rolls of Morgans from the First Federal National Mining Exchange (or some such nonsense) Bank of Carson City.

These pig-in-a-poke "unsearched" rolls are always scams.

 

what is the definition of "unsearched"?

Is this from the first person who made the roll .. or the 5th person reselling the roll. Of course the 5th person hasn't "searched" the roll .. just looked through it. So it's unsearched in their mind.

In other words, it is highly unlikely that you can buy a roll of any coin in a totally "unsearched" state.

What if they searched a pile of coins *before* they put it in a roll. Technically, it's an unsearched roll.

If any coin in a roll is not in completely BU state then it has been circulated and someone has looked at it before putting it in a roll.

You can find "unsearched" rolls from coin collectors that bought rolls as soon as the new coin came out and thus have pliffered away rolls of coins that are all in BU state. But once it has changed hands just once you can be guaranteed someone's looked through it.

 

$3.50 a roll, not too bad for 42 year old brand new pennies.

 

Yeah, I’ve only cracked one open, but I found a couple keepers, I’m really looking for ones with luster and great strikes, apparently the 77 d is known for having bad strikes, so in the upper grades they go for decent money, an ms68 went for something like 7 grand. And wow was I surprised by how how many duds there were, still UNC, but just handled roughly at the mint.

 

Remember that UNC is from MS60-70. In order to get a high grade it has to not only be superbly struck, but not have contact marks. I sincerely doubt you'll find anything above MS66 in any of the UNC rolls you bought, but you never know. Personally, I don't think there's any value in an MS68 LMC, except to sell it. If you're in this because you think you're going to make some money, you're putting the cart before the horse. I lost a LOT of money trying to "make money" on coins before I started learning from others (mostly on CT) and coming to grips with reality. Many of us know a LOT about coins, but even with all that knowledge, turning a profit in this hobby is not easy. If you just desperately want an MS68 1977D, I suggest you start saving up and buy a graded one, though I think an MS67 could look just as nice.

 

Yeah, not really in it for the money, it’d be nice to get some awesome valuable coins roll hunting, but it’s more of a hobby, money is kind of an after thought.

 

I bought some UNC bank rolls in the early to mid 70ies from my local bank.
Still have them (truly unsearched)

A dealer got a random lot of coins in a bulk deal and sold me some UNC bank rolls from 59-64.
$1.50 a roll and the end coins looked legit.
I guess they turn up now and again for dealers.