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"Unsearched" Rolls On Ebay... Is It Fraud?

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Pillar of the Community
United States
7052 Posts
 Posted 09/01/2011  11:14 pm Show Profile   Bookmark this topic Add merclover to your friends list Get a Link to this Message
Seems there are an ever growing list of auctions on eBay that advertise what the sellers are calling "unsearched" rolls of wheat cents... Here is a typical auction ad as currently being run on eBay:


Quote:

***76,000+ Wheat Cents Bank Wrapped Rolls of Wheat Pennies***

Machine rolled - Crimped both at both ends - Truly Unsearched, read on...

We run a small local coin shop in Central New York. Recently, a woman stopped into our store and she worked for a local bank and that she found a TON of rolls of wheat cents. I told her to bring them in and we would count them up and give her a price. We hear this all the time--nothing out of the ordinary until she brought them in.

She returned later with her husband and his truck. All of her pennies were bank wrapped, crimped on both sides. All of the coins were heads/tails wheat cents. I saw one even had a 1866 Indian head showing. To make sure I knew I was buying all wheat cents, I randomly cracked open about a couple dozen rolls. I found wheat cents from every decade, I found a 1909-S, 7 Indian head pennies, steel cents. We have been selling these in our store to a lot of our collectors. One collector found a 1909-SVDB, well as several reports of a 1909-VDB. but we just don't have enough traffic to sell them all so we thought eBay would help.

These have all been professional rolled with N.F. String & Son, Inc. wrappers. How did these get overlooked?

Bid with confidence. We have been in business since 1979. Great feedback ratings. Sorry no returns on this item as items can't be replaced once open and I cannot gaurentee what you will find in every roll. My retail customers have been more than satisfied, but I just have to many to sell in my store.


OK, I for one don't believe a word of any of this. So, if you purchased a roll or two of these "unsearched" rolls and you find every single one of them are 1959D wheat cents or even a single '59 non-wheat cent), do you have cause to yell foul and try to return them, and if/then the seller refuses, file a eBay buyer's protection claim?

And if they are truly truly unsearched, how would the seller know? I see a slippery slope here.

Les
ša va bien aller

Pillar of the Community
United States
1697 Posts
 Posted 09/02/2011  12:50 am  Show Profile   Bookmark this reply Add ErrorCoins222 to your friends list Get a Link to this Reply
Most "unsearched" lots, are in fact searched.
This one just sounds like another ebay story.... They can be pretty creative sometimes.
Valued Member
United States
208 Posts
 Posted 09/02/2011  02:04 am  Show Profile   Bookmark this reply Add Rewster to your friends list Get a Link to this Reply
Here's the way I look at it. The "unsearched" rolls of wheat pennies go for $10-$20 in an ebay auction. A 1909-s VDB will sell for probably at least $750+. Why would anyone selling them not search them with the potential of a price increase like that. If you are looking for random wheat pennies to fill a folder, it might be worth it IMHO.
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United States
3236 Posts
 Posted 09/02/2011  04:25 am  Show Profile   Check Yokozuna's eBay Listings Bookmark this reply Add Yokozuna to your friends list Get a Link to this Reply
"Unsearched" rolls of coins on eBay only means that YOU have not searched them yet. You don't know what you might find... you could even find a key date! BUT as the rolls have been searched by buyer after buyer and anything that even looked like it was worth more than 3 cents was pulled before another coin or two was added and resold makes the chance that you'll find anything of value a 1 in 1000000 chance.

Some sellers may slip in a poor old worn out key date to get the feedback from a buyer "I FOUND A 1909-S!" to draw in another 10000 buyers. When you see these stories of collectors finding key dates in "unsearched" rolls, you KNOW the sellers must be the one of the only sellers REALLY selling unsearched rolls.

With each $5000 or $10,000 they make, they can buy a few keys for a few dollars and "Keep The Dream Alive."

I have no proof of this, but it sure would make for some great stories and cost only a small percentage of the profit you're making on the rolls with nothing of real value in them to keep the stories going.

Not that any one on eBay has ever stretched the truth to make a profit. That just wouldn't be right!
ANA Member ID: 3203813 - CONECA Member ID: N-5637
"Shine, shine a Roosevelt dime. All the way to Baltimore and runnin' out of time." Tom Waits-Clap Hands



Pillar of the Community
United States
3345 Posts
 Posted 09/02/2011  06:40 am  Show Profile   Bookmark this reply Add rachums107 to your friends list Get a Link to this Reply
Scams. All of 'em.
UNfortunately there are enough people to try once and then never buy again.
Valued Member
United States
333 Posts
 Posted 09/02/2011  07:28 am  Show Profile   Bookmark this reply Add BuffaloBonehead to your friends list Get a Link to this Reply
Scams. If you take the time to look through the feedback, often times the same users will be cycled through saying "thanks for the ___." All extra accounts from the seller.
Pillar of the Community
United States
3451 Posts
 Posted 09/02/2011  07:46 am  Show Profile   Bookmark this reply Add CoinsKelly to your friends list Get a Link to this Reply
I was curious a while back so I got a couple of "unsearched" wheat rolls. I could have lived with worn coins but I found a lot were whizzed or cleaned to try to make them look better than they were. It was enough that it was obvious that someone had been through them to try to make a new collector think they were getting a good deal. I kept them for a reminder of what not to get. They may been unsearched by the person selling but I think his/her brother/sister put them together!
Pillar of the Community
United States
1723 Posts
 Posted 09/02/2011  07:58 am  Show Profile   Bookmark this reply Add The_Duke to your friends list Get a Link to this Reply
I find this amusing, 76,000 coins, which equates to over 1500 rolls and they are ALL head/tail. I don't think the bank would take that much care to ensure that happens. And it didn't' happen by dumb luck, the odds of all rolls being H/T are astronomical.

Remember, there are no unsearched rolls on eBay.
Pillar of the Community
United States
4212 Posts
 Posted 09/02/2011  08:44 am  Show Profile   Bookmark this reply Add fioti to your friends list Get a Link to this Reply
I'd like to see a roll "crimped on both SIDES"
Rest in Peace
United States
3039 Posts
 Posted 09/02/2011  09:59 am  Show Profile   Bookmark this reply Add numismo to your friends list Get a Link to this Reply
Check for fine print (really tiny) that says, "unsearched since last time they were searched". Of course the sellers of these have zillions of potential customers from those that buy coins on TV.
Valued Member
United States
219 Posts
 Posted 09/02/2011  10:36 am  Show Profile   Bookmark this reply Add beachloan to your friends list Get a Link to this Reply
So I may have been drunk, bored or both but I actually did buy from this guy last week. The coins showed up in 2 days and I found a 1909 VDB and a 1922 (still trying to figure out if weak or no D). In addition I found 3 IHC, and 4 Canadian cents. I think this one is legit but I blame it on the booze.
Valued Member
United States
137 Posts
 Posted 09/02/2011  10:47 am  Show Profile   Bookmark this reply Add collectorplay to your friends list Get a Link to this Reply
If you don't mind me asking beachloan, how many rolls did you buy and how much did they set you back? Not really a bad find, for random rolls.
Edited by collectorplay
09/02/2011 10:52 am
Valued Member
United States
219 Posts
 Posted 09/02/2011  10:55 am  Show Profile   Bookmark this reply Add beachloan to your friends list Get a Link to this Reply
It was 10 rolls for 49.99 but if you buy 2 you get 1 for free. I did however get a lot of common coins and was sitting there getting more and more mad with every coin I looked at. The 1909 was one of the last coins in the last roll I opened.
Pillar of the Community
United States
2548 Posts
 Posted 09/02/2011  10:59 am  Show Profile   Bookmark this reply Add mycrob to your friends list Get a Link to this Reply
The are search rolls, salted with occasional goodies, like an AU/BU wheatie, steelie, or occasional teens or 20s and sometimes a semi-key date. Trust me, they know exactly which rolls have the keys/semi keys and they always make money on these rolls, factoring in that they had to buy the semi-keys.

Also, it is not possible for this many rolls for them all to be heads/tails.

Searched and salted. I know for a fact one seller on EBAY who had an ID for selling and another ID for buying. He used the buying ID to scoop up wheats for 3-4 cents each, mostly 40s and 50s, then would buy semi-keys and occasional keys. Later those keys/semi-keys would show up in the seller feedback.

So does this mean you stay away? Not necessarily. That's up to you. If you can live with the gamble of possibly getting one of the rolls with a semi-key and being ok if you didn't get one based on the price per coin, then take the chance. If you want to do it for fun, take the chance. If you feel you must get your money's worth out of it and if you don't, you would be disappointed, then don't take the chance.

Some people just like thrill of the hunt, so the seller is satisfying a niche and hypes the auction.
Bedrock of the Community
United States
20393 Posts
 Posted 09/02/2011  11:27 am  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply
All you really have to do is THINK. How in the world could anyone say coins are UNSEARCHED if they tell you what all of them are. If I said I had a roll of Wheat Cents and all are UNSEARCHED, how would I know they are all Wheat Cents unless I looked? OR never opened bag of all Wheat Cents. Again, how would anyone know what they all are unless they looked? If I told you I had 5 coins in my pocket and all are 1978 Jefferson nickels but I never looked at them, HOW WOULD I KNOW?
On ebay there are certain stories that are repeasted over and over and over.
I have these UNSEARCHED COINS
My (Mom, Dad, Aunt, Uncle) (pick one) died and left me all these coins. I know nothing about coins either.
I found these in the basement of a house I just moved into. I never opened them and know nothing about coins.

And always remember that for a kid in school with hundreds of other kids available, feedbacks on ebay are useless.
just carl
Valued Member
United States
466 Posts
 Posted 09/02/2011  12:59 pm  Show Profile   Bookmark this reply Add googoo to your friends list Get a Link to this Reply
unsearched rolls means searched by me, and whoever had them before me
I think I am gonna dump out all of my wheat pennies I have found over the years, mix them up real good to get a nice date mixture, reroll them in old style wrappers and sell them online as unsearched. It works for everyone else. A good way to get more then a few bucks a roll
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