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Replies: 34 / Views: 3,594 |
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Valued Member
 United States
326 Posts |
I see some occasionally selling on ebay with photo of $1000 bags alongside the coin photos. I'm skeptical of course but wondered about opinions of others.
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Rest in Peace
United States
18456 Posts |
In my opinion I believe that is possible .There's got to be many strays out there owned by Grandfathers or great Grandfathers hand-me downs . And then there are ,I'm sure original or close to original bags buried some where out West by outlaws from the late 1800's . And don't forget the ultra high end coin dealers who have million $ +inventories . 
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Bedrock of the Community
United States
19120 Posts |
Imagine the toning going on with those buried (and likely forgotten) bags of Morgans.
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Valued Member
  United States
326 Posts |
Thanks for the input. I'd like to find a bag of 1884-S someplace. ( Actually just one mint state item would suffice) I was just reading in the Bowers Morgan Guide Book that someone sold a roll of them for $450 in 1964. Wow!
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Pillar of the Community
 Canada
5393 Posts |
A fellow dealer friend of mine and Myself bought an original bag of 1883O in the Vancouver area of BC Canada . The investor who originally Owned it bought it from the 1963 64 Treasury release .
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Valued Member
  United States
326 Posts |
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Pillar of the Community
United States
4233 Posts |
While I don't doubt there are still some out there somewhere, you can obtain old empty mint bags too. I imagine what you see on ebay is probably just a prop to go with a deceptive sales pitch.
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Pillar of the Community
United States
7613 Posts |
I doubt very seriously if ORIGINAL rolls and bags still surface in quantity like they did back 40 and 50 years ago. Third party grading has since gobbled most of those coins all up. There will still be occasional original rolls of "common" dates show up but not many. The last good rolls I got was a an 83-CC and 1900-S back about 1990 when I was living in California. They were not cheap, either. The stuff you see on ebay is all from "marketing 101" and is a "packaging and presentation" gimmick. The dealer that stands out to me is one in Colorado that seems to do this A LOT with his listings. Seems to use the same background $1000 bag picture in all his listings. I think he jacks with his coin pictures too, as the coins all seem to have the same "flash". Evidently he is a good marketing business man. Gotta do what cha gotta do but it all eventually catches up with you.
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Valued Member
  United States
326 Posts |
Thanks again. I always assume that the marketing is going on. Like everyone, I try to cut through the BS and do the best I can to "self-grade" by looking at the coin photos and forgetting about the bag and roll photos. There's a guy on Etsy right now selling fakes, but he's calling them "Commemoratives". When I wrote and asked him about this, he said, " Yes, I make them myself ( Key Dates such as 1884 S and ) out of .925 silver so collectors can fill holes in their collections with reasonably priced items." Yeh, I guess if you don't mind that your collection contains coins that are fakes. :-) Oh well, at least he was honest once I asked him.
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Moderator
 Australia
16808 Posts |
Quote:Do Any / Many OBW Rolls Or Original Mint Bags Of Morgans Really Exist? I see some occasionally selling on ebay with photo of $1000 bags alongside the coin photos... Consider this: Suppose you've got an "original wrapped roll" of silver dollars. allegedly never been opened. Or a canvas bag, likewise. How on earth do you know that it's a roll or bag full of Morgan dollars? Logically, if it's never been opened, there could be anything in there; it could be a bag full of Ikes, as far as anybody could tell. For a roll, you might be able to read a date on one end or the other, but there's no way to guarantee all the other coins in between, if they've never been seen. But if they're confident that they're all Morgans, then the only way they can generate such confidence is if they'd opened it up and looked. And if they did open up and look, there's no way they'd have just looked at every coin, said "yep, they're all Morgans, sure enough", and then put everything straight back in the bag again, unfiltered. No, they'd swap out anything they found that was actually rare or valuable, like a CC Morgan. Secondly, I don't understand the logic of someone selling an unopened, unsearched roll or bag of coins. It really doesn't take all that much time and effort to open it up and have a look at what's in it. Why would somebody, anybody, not do that, especially when they surely know that the potential reward for doing so is the possibility of finding a coin valuable enough to buy a new car, or a down-payment on a house? It's kind of like selling off an unopened Christmas present when you don't know whether it contains a worthless trinket or a diamond ring. TLDR: yes, in theory, "unsearched rolls and bags" exist, and they might get sold by people. But they are being sold by people who don't know how special something genuinely "unsearched" would be, so they aren't using that word "unsearched" in their sales. Assume everyone using that word on ebay etc is speaking less than the literal truth.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Pillar of the Community
United States
2280 Posts |
Westernsky- I'm with you on that one! That dealer in Colorado has his gimmick down pat!
You realize when you know how to think, it empowers you far beyond those who know only what to think.
-Neil deGrasse Tyson
Edited by NumismaticsFTW 06/07/2022 02:06 am
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Rest in Peace
United States
18456 Posts |
Quote:How on earth do you know that it's a roll or bag full of Morgan dollars? Logically, if it's never been opened, there could be anything in there; it could be a bag full of Ikes, as far as anybody could tell. The mint sewn bags would have the date and mint printed on the bag ,denomination and maybe the bank where it came from . Probably the same for OBW rolls of Morgan dollars .
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Pillar of the Community
United States
4989 Posts |
It's possible but very improbable. Any dealer selling "original bags" in volume is definitely a scam since, if some exist, they would be rare. Also, even if the bag is original you can be sure all the coins have been picked through for key dates and varieties before resale, with any high value ones swapped out. Something like an estate sale is I think the only place you might find an original bag that nobody has looked through. Would have to be an old timer who picked them up at a bank in the 50's to horde silver. Not too many left in that age group, and any inherited silver tends to be picked through and sold.
Edited by fenton 06/07/2022 6:19 pm
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Valued Member
  United States
326 Posts |
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Bedrock of the Community
United States
94367 Posts |
The Great Treasury Raid of 1964 was quite something to live through. The line went around the block to buy a $1,000 bag of silver dollars at face value, with dealers paying good money to shills to stand in line for them. It was first come, first serve, and you had no idea what bag you would get. This was the end for many vaunted rarities in MS, particularly the 1901-O. By reliable information, a number of original bags of 1859-O and 1860-O Seated Liberty dollars were included, at random, in the release.
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Valued Member
  United States
326 Posts |
In 1964 I was 12 years old. I'd often get Walker halves as part payment for mowing lawns or washing cars. All circulated but I have no idea what dates I was handling.I would also occasionally get a silver dollar. Just imagine all the candy I could have bought with one of those Treasury bags of dollars! :-)
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Replies: 34 / Views: 3,594 |