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 Replies: 17 / Views: 1,959 |
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Pillar of the Community
United States
781 Posts |
HELLO folks, I have another newbie question for you all. I just purchased my very first new-coin roll from the US Mint. It is a roll of the $1 American Innovation - Indiana (D) coins. My MAIN question is, now that I have this roll, what is the usual next step? SUB-QUESTIONS: Should I keep the coins in the roll, or can I remove a few? Will the coins stay nice in the original roll, or should I remove them and put them in a plastic tube instead? I've seen rolls of old coins online that say they are uncirculated from the Mint or a bank, though the ones on the ends don't look shiny and nice like I'd expect. Are these coins possibly not perfect since they have gone through the "rolling" process? Or is that more of a problem with coins that are sold in bags? I am assuming I'll never see the roll gain any serious value if left as-is. BUT I don't want to ruin any potential gain in value if I can avoid it! Questions questions questions...  *** Moved by Staff to a more appropriate forum. *** |
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Moderator
 United States
15386 Posts |
I would put on some protective gloves and open that roll over a clean, soft surface Do your homework in advance of any known varieties - then search coin-by-coin for them and any coins in truly high grade. Let us know by photos what you find.  |
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Moderator
United States
94672 Posts |
Well, my question for you is - What is your intention with these coins? to sell them individually?, Sell them at some point in the future as an intact roll?, Or keep them and search for varieties (if any) for this set you just got
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Pillar of the Community
United States
1648 Posts |
Rolls tend to have better coins than bags due to the potential for all the banging around during transit. Bags however can have errors that wouldnt fit in rolls (for future reference). Yes the ends could possible have more wear than the rest since they are exposed. So some people buy rolls in hopes of finding the best condition coins when they show good value on the grading sites. In some other cases people want to keep the entire roll as is because it contains special coins, such as S mint recent quarter releases and then perhaps sell the entire roll later.
Others may look through the roll to find good example for an album hen just sell or turn in the rest, and finally as dearborn mentioned some people look up coins to see if they have any error/varieties that are valuable and either open and search for them, or keep the roll knowing that people may eventually pay more for the roll since it is known to have high value coins (similar to unopened packs of cards). They will generally remain in similar condition if stored properly in the mint roll.
Edited by datadragon
07/03/2023 8:13 pm
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Pillar of the Community
 United States
781 Posts |
Thanks for the replies so far... I was thought that my question wouldn't get many answers since it was moved from GENERAL to a more niche section of the forum. I bought these because they have a crossover appeal. I am not the biggest fan of the $1 coins, BUT these have my favorite American pre-war car on them, the Duesenberg. That is why I chose the Denver roll, by the way... another "D"! Since it's my first mint roll of anything, I am not sure what I want to do with them. I'd like to put one in a Dunkin Donut tip jar just to get at least one in the money stream. I can't afford to get any graded, though I'll probably keep an eye out for one (and end up paying someone else who did get one graded!). I really don't know. I'll sit and see what else folks here type! :-)  Edited by Nells250
07/04/2023 10:57 am
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Bedrock of the Community
United States
19111 Posts |
In the next few days, consider picking up a few rolls of various coins (denominations) at your bank. Set aside the mint roll you just acquired and dig through the bank rolls. Aside from being fun, you just might discover your interests expanding. There's no need to come to a quick conclusion on your Indiana innovation dollars.
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Pillar of the Community
United States
781 Posts |
Do banks even keep new $1 coins "in stock"?
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Pillar of the Community
United States
781 Posts |
(quick cell phone pics)  Looks like once you unwrap these rolls, they STAY unwrapped... not like a store-bought consumer paper coin wrapper. JD |
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Pillar of the Community
Russian Federation
1555 Posts |
I would have saved a couple of rolls, maybe even bought a bag. I keep a few coins from trips. I opened several rolls to replenish my collection and sell some of the coins (I still can't get rid of the coins of Indonesia 1000 and 200 rupees). So now I have several rolls of coins from Indonesia, one from Singapore with 5 cents. I think that in a few decades I will be able to make money on them, but I hardly believe in it.
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Pillar of the Community
United States
1648 Posts |
Quote:
Looks like once you unwrap these rolls, they STAY unwrapped... not like a store-bought consumer paper coin wrapper. Yes. And since its a new coin there is no info yet on possible varieties or errors unless some pop up on ebay or the forum, so that would suggest to not open unless you want to open one roll to find one or a few for an album you want to put together, to put some of the rest in circulation since thats what you were thinking, and either sell the rest here on the forum or places like ebay, or just turn in/use the rest. The roll value itself can go up once its no longer available through the mint anymore to purchase (or the individual coins taken from the roll to sell) so most wait a bit for at least that point before selling. If you wait a few years and see that the top grade has value (its too recent to know now) then you could also open a roll to check for a top grade and send it in for grading at a cost in hope that value is over the costs to grade. https://www.ngccoin.com/price-guide...dollars/234/ Sometimes this happens because the quality is poor overall but a few early examples happen to be of high quality making them condition rarities. Enjoy whatever you do. |
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Pillar of the Community
United States
781 Posts |
Hmmmm... So really, it sounds like there IS no standard thing to do with mint rolls! Do what you want! ;-) No one will yell if I open the roll OR if I keep it together OR spend a couple! Of course, by the time it arrived at the house, it cost me way more than the $25 face value, which does make me want to keep it all together.
I'll just keep the roll intact for now, I guess.
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Pillar of the Community
United States
1648 Posts |
Good idea to keep the roll intact. You actually may have picked a good one :) The rolls seem to be unavailable at the mint as only the bags are available, and rolls even hard to find on ebay already so I'd keep them in the rolls in this case. People are selling them at premiums because of the unavailability at the mint and most collectors are holding onto them. What people do normally may differ based on popularity of a specific coin or its rarity (such as when the 'S' quarters are released only in a three roll set. They are more likely to open them when it doesn't have a big demand like this one seems to be developing. Offered in options of 25-coin rolls and 100-coin bags at $34.50 and $117.50, respectively, the Indiana Innovation dollar logged opening sales of a combined 841,600 coins. As some comparisons, the first Innovation dollar for 2023 celebrates innovation in Ohio and recorded sales of 689,700 coins during the first few days of its release. The second dollar for the year, recognizing innovation in Louisiana, debuted with early sales of 785,825 coins. https://www.coinnews.net/2023/07/06...00-in-debut/Edited by datadragon
07/07/2023 1:29 pm
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Pillar of the Community
United States
781 Posts |
"You actually may have picked a good one :)" YAY! Think about it... the crossover interest... CARS versus LUNGS (Mississippi)  |
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Pillar of the Community
United States
5601 Posts |
David has, as Always, provided Great Information, or DATA  ..... I am A BAG man. I Collect BAGS of coins, Since I Could, Pre 2000 to Date From the U S Mint, usually Quarters. I will give myself Time Some Day To Look Through them for Varieties and ERRORS.....  Rolls Have Great Potential Too, Best Wishes |
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Pillar of the Community
United States
1648 Posts |
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"You actually may have picked a good one :)" YAY!
Think about it... the crossover interest... CARS versus LUNGS (Mississippi)  Yes I can see why this one might have more popularity and its knowing what might be popular in design or subject (such as coins with popular characters on them) that can later increase value on some coins because it increases the demand for them, and sometimes there is only a limited supply. Collectors will of course buy them regardless in order to complete their sets, or to occasionally look for top grades or errors/varieties with some coins, but with many modern coins they come in such large quantities that there is usually not a lot of chance it will increase in value since there are more coins available than demand for them. Innovation dollars arent too high mintage but also early on had far lower demand by collectors than say quarters, but that seems to be changing slightly as the series continues people are going back to collect earlier ones. I remember when Maryland came out I could get them easy and cheap for example but they are creeping upward now. https://www.coincommunity.com/us_do...novation.aspQuote:
David has, as Always, provided Great Information, or DATA .....
I am A BAG man. I Collect BAGS of coins, Since I Could, Pre 2000 to Date From the U S Mint, usually Quarters.
I will give myself Time Some Day To Look Through them for Varieties and ERRORS.....
Rolls Have Great Potential Too, Best Wishes Thanks and Best Wishes back to you and the family I prefer bags for varieties/errors, but rolls seem to be the best choice for the best chance at top grade searching. Its not always the case, but in the past few years with innovation dollars it has been and quality has been quite variable why I mentioned rolls for them. It reminds me slightly of 1971-s ike uncirculated and proof dollar as mentioned in nov 21 numismatist. uncirculated were bagged in bulk and shipped to ny for packaging causing lower quality. proof did not have this issue. P+D circulated also had poor quality causing difficulty getting some higher grades. For fun with moderns you can look for high grades in years or mints with known conditional rarities at the top grades or buy just based on what you think is going to have higher demand than whatever the supply they are going to make. |
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Pillar of the Community
United States
781 Posts |
Hey, here's another one... that link that shows sales of this particular coin... any reason why the P rolls sold more than the D ones? I don't get that one at all... unless one mint is known for better quality?
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Replies: 17 / Views: 1,959 |
Posted 07/03/2023 7:10 pm
Uncirculated American Silver Eagles 
