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 Replies: 39 / Views: 6,001 |
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New Member
United States
8 Posts |
Hi all! I am super-new here and NOT a collector. I have been doing research in order to help my friend get the best possible amount for an inheritance during a time of need.
I will try to be as clear an concise as to what she has, I apologize if it is TOO much info:
She has 100 rolls of 1955 S pennies. They were purchased by her father in 1955 directly from the bank after arriving from the SF mint.
The original burlap bag has not been opened. The bag is still sealed and tagged with the original red identification tag.
The front of the tag has:
CALIFORNIA BANK Deliver to - <stamped> "San Pedro Office 125, 405 West 7th ST, San Pedro, CALIF.
Verified By<initials>
$50.00 (pre-printed on tag)"
The back of the red tag has handwritten: "34/9 - New - 1955 - <initials> - San Franc"
The burlap bag has been kept in a heavy clear plastic bag into which was placed the original teller's receipt.
The original Chief Teller's Receipt is stamped with the above mentioned San Pedro stamp in the "delivered to" section. $100 in pennies is indicated (there were originally 2 $50 bags) and is hand dated "9-26-55".
I also have pictures.
I've done some research and would imagine that these coins would be graded extremely high as they have never been opened or removed from the sealed bag...essentially mint condition. Right?
Should we attempt to sell them as is or as individual rolls? We don't know what opening the bag will do to the value.
Where should we start? My friend is going through severe financial difficulties and is hoping to use this money to help pay for kids #2 and #3 (out of 5!) to go to college in the fall.
(out of 5!)
We would love your opinions/help/suggestions...everyone on here seems so helpful and friendly!
Thanks for taking time to read this!
Juli
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Moderator
 United States
187662 Posts |
 to the Community! Usually, selling them by the roll would net more than selling them all at one time. The smaller the price, the easier the sale. That is, there are more people with the money to spend on one roll, than there are that would buy a whole bag. But being unopened would add a premium to the value of the bag. I am assuming they are loose in the bag and that any rolls would be made by yourself. In my opinion, some research into past sales of unopened bags versus rolls is needed. Take your time! There are a lot of us here with opinions to share! And yes,  |
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New Member
 United States
8 Posts |
Thanks so much, Jbuck! I am downloading the pics now but here's the thing...they are already in rolls inside the bag!
I haven't opened the bag, of course, but I specifically felt the sides and they feel like rolls. Additionally, I have carried it the bag and I'm certain there are not loose coins. They are lined up on end, in rolls inside that bag.
Does that make a difference?
OK...I'm heading to download the pics.
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Moderator
United States
187662 Posts |
Yes it does! People have been known to pay a huge premium for unopened mint rolls. The biggest concern of a buyer is knowing that they are, indeed, original unopened rolls.
I would await confirmation from someone that knows better than I. That is, to be sure you do have unopened rolls in that type of bag. I am certain that selling by the (original) roll will net the greatest return, but again there are other opinions out there and I value every one of them!
Whatever you do, documentation, especially with photos, would be very important. The more that the potential buyers can be assured that these are original rolls, the more they will be willing to pay.
Edited by jbuck
07/21/2009 4:01 pm
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New Member
United States
8 Posts |
Whew! Sounds like I am going to need a lot of help...but I am so glad I decided to post here. I'm not even sure what a "premium" on a mint roll would be!
OK..Now I have to figure out how to post the pics in this reply...might need to start a new post?
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Pillar of the Community
United States
532 Posts |
Just My opinion...Do NOT open the bag.
Collectors such as myself would want to do it ourselves. Searching through for error coins and such is where the value is to us. Once it is opened no one will ever trust that it has not been already searched through. This will be seen as a dramatic negative towards the buyers.
Unfortunately the 1955s cent is not a rare coin in any condition. Certainly not without some value, but to be considered quite common in the series.
All depends on the time you want to dedicate towards selling them.
Rolling will require time and effort in regards to proper handling.
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Pillar of the Community
United States
532 Posts |
OK they are already rolled. This makes more sense.
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New Member
United States
8 Posts |
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Valued Member
United States
310 Posts |
No insight from me but that kind of cool, sealed, burlap bag secrecy would make me go bonkers.
Truly cool! Will check back here to see whats up!
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Pillar of the Community
United States
1882 Posts |
to the forum. That is a pretty cool bag of cents. I'm guessing they are worth on the higher end of a $25-$50 per roll range. |
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Pillar of the Community
United States
1699 Posts |
With the original documentation, it will be easier to believe that these havent been searched through. But I'm not sure if you can reseal these bags or what since I have never seen one in person.
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New Member
United States
8 Posts |
lol...the sealed bag is definitely a conundrum. Thanks for the welcome!
As far as the seal on the bag...the tag has definitely not been removed and it is sealing the bag. Personnally, I know that these have been stored in the same place sincethey were brought home in 1955...but proving that is another story.
It is tempting to open that bag and see what is in there. What if they are 100 rolls of mint 1955 s pennies? Arggg!
Any suggestions on where to start? I don't mind putting in plenty of effort but I am not sure what my next step should be from here.
Help! :) and thanks!
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Bedrock of the Community
United States
10284 Posts |
Once you throw 200 rolls of 1955 S on the market, they'll go pretty much lower than by selling the unopened mint bag. This will also affect the value of existing 1955 S UNC rolls somewhat.
Selling them unopened, I think you will get far more unless you trickle and I mean trickle them into the collecting world over a long period of time.
These are two entirely different collectibles, opened and unsearched. Who knows what errors ( off center, capped dies, broadstrikes, clips, flip over and double struck could be in there? ) Keeping it a mystery adds to and is also part of the collectible value of having it remain sealed in my opinion. Don't open them! That's my 2 cents.
Edited by TNG
07/21/2009 6:32 pm
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Pillar of the Community
United States
1231 Posts |
I might as well throw my opinion in. I feel you best option is to sell them by the roll. So that means breaking the bag open. I would also say to open up 1 roll to see if they are all 1955 cents. And I also agree with taking lots of pics to show everything.
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Rest in Peace
United States
2668 Posts |
I would either put the whole bag on ebay with a reserve that the experts here deem reasonable, or consign it through the forum owners here at CCF. Their fine reputation would probably bring in higher bids that would more than cover their fee. |
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Pillar of the Community
United States
5603 Posts |
My 2-cents, Welcome to the family, now back to the business, 1st the rolls would bring you the most $$$$ sold one at a time, also I would suggest that you include the more pictures the better for your auction, the sealed bag, the seals, the entire bag and so on to help "market" your product,as original and unchecked, this is a very key term in selling rolls of coins, also those rolls would, in my opinion, not have any bottle capped coins or anything else that would not fit into a roll, ( you stated that they were rolled), errors of other kinds, totally possible, your bidders will be of all kinds, some wanting to search the "unsearched rolls" for errors, some want to start a small business selling coins, mint condition ones, many reasons those coins would, if they are all in Brilliant Uncirculated condition, would sell at e-bay auction for at least $ 45-55 dollars per roll. If you check the ended auctions on e-bay you will find that 25-cent rolls of B U COINS sell for about $25-30 dollars per roll, and your rolls I am not sure but figure they are the 50-cent rolls. Your call to do as you wish, IMHO, sell them slowly( 2-3 auctions at a time,and place to original bag and sealed seals pictures in every auction, it might take a little time before the die hards see you have GOLD, good luck, Mike......  |
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Replies: 39 / Views: 6,001 |
Posted 07/21/2009 3:53 pm
