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 Replies: 39 / Views: 6,023 |
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Moderator
 United States
189222 Posts |
wheezydog asks: Quote:
Maybe this can be clarified?
I read it as if there is or was two. One rolled, one bag still intact. Earlier, 00jules said: Quote:
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.
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Bedrock of the Community
United States
10284 Posts |
Oh thanks a lot for that clarification.
I would bet then that they are all 55 S.
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Bedrock of the Community
United States
12437 Posts |
I think it is a bit "optimistic" to think that a major auction house would be interested in something like this. Remember, it is essentially just a BU bag of a relatively common coin with a mintage of 44.6 million. A couple hundred rolls should not affect the market value in any way because it would represent a small portion of a coin that had seen significant savings since it was the last San Francisco wheat ear. If you had a bag of 1931-S cents, then that would get the attention of some major players but it would also affect the whole market for that coin. Of course, the 1931-S is considerably rarer than the 1955-S. It is also unfortunate that it is not a bag of 1955-P cents because there was a particularly famous doubled die produced that year in Philly. A bag of those would have buyers foaming at the mouth and dreaming of DDOs- the price realized would probably be considerably high. 1955-S was a relatively quite issue for varieties with only 13 listed at coppercoins.com. Still, buyers will pay a nice premium for any original bag of wheat cents just for the opportunity to look for varieties. I imagine that any offers from dealers in your area would be low-ball as most would not have the means to market the rolls individually. Since you stated that you are not a collector, then I am sure you do not have the appropriate numismatic-related feedback on ebay to maximize your closing price. Consigning with someone, whether it be the forum owners or another Ebay-approved consignment dealer, will probably be the best way to get the best price. Another option would be a private treaty sale to an individual who would know the market for something like this. The one name that comes to mind would be Coppercoins, aka Charles Daughtrey, a renowned expert and author on Lincoln cents and a forum member here. I am sure he has a few original bags of wheaties sitting around  BTW, that is his website that I referenced earlier. |
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Valued Member
United States
429 Posts |
I do not see ebay as an option because no one wants to pay the value of what it is worth and by the time you are done your friend will not be that far ahead. There are too many people that have 'found' the perfect unsearched bag hidden in a closet stories on ebay and I am afraid yours would just get stuck in with theirs. If we were talking about a profit of a few dollars I would say find the first buyer and sell it, but personally, I think you have a very unique item here. Take all the time you can to find the best solution and what will help your friend out more in the end. Even though you said you have started finding an interest in collecting coins, I do not think this is the item you want to start on or spend that amount of cash on (besides, there may be some type of problem where it is a friend, and no one wants that). Go to your local library or book store and see what different coin magazines they have. They all have different dealers from low end to high end, and a simple phone call is not going to hurt anyone. Make sure the source you go through is trustworthy, this is hard to find out but by asking around you should be able to get an answer. I have not had any problems with anyone on this board and the people that have been giving you advice to this point are the ones I would suggest for any type of problem and because of that, think that you may want to look more at this board for help. The only set back I can see for you is time, especially if college starts in a month. Even though the deadline seems to be closing in, do not make a rash decisions. By looking at all your options and then making a great choice will not only help your friend but give you a sense of great pride in the help you are giving her. Who knows, maybe you will get involved in this board and teaching us on how to sell and buy in bulk. |
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Bedrock of the Community
United States
14454 Posts |
I say leave the bag sealed and unopened. Anything originally sealed is going to bring a premium over something that has been opened because as soon as its opened there are no guarantees that the coins haven't been searched through (which is a huge thing with variety collectors). I haven't read any of the posts here because I usually just read the op's post and then give a comment so I am not swayed by any comment from any other member. If someone was to tell you to unseal the bag and sell individually its probably because of the way they purchase coins themselves instead of looking at it as a sealed bag from 1955 (but believe me there are plenty of collectors that can and will pay a premium for sealed bags of coins) and they only buy in small quantity but if it were mine I would leave it sealed and sell it as a whole. Selling each roll would also take allot longer to do but the real reason I say I would leave it sealed is because there probably aren't very many still sealed from 1955 and that in itself makes it worth more and each time another bags seal is broken on another bag of 1955 Cents it makes yours that much more valuable
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Pillar of the Community
United States
5625 Posts |
Talk to Susan and Bobby here at this forum, they will steer you in the right direction, they sell coins and such for members here and do a great job, personally, I have not used their services, however I have heard they do a great job and are very nice people to work with, good luck, Mike.....
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Pillar of the Community
United States
7629 Posts |
1. Original material is not rolled. Nobody would buy it as a 'sealed' bag.
2. Bid and ask is for sealed rolls. They are what they are.
3. No auction house would be interested in them.
4. Their value would be $24 per roll ($2,400) plus a little premium for the bag.
5. It would be easier to sell them roll at a time.
6. It is unlikely that you will get any premium for them being 'unsearched' - there is only one valuable RPM and no doubled dies known, and high grade examples are common.
Best bet is to see if anyone wants to buy all 100 rolls. If no takers, sell them one at a time. There would not be any difference in value that would counteract the difference in shipping cost of sending 100 small packages versus one large package.
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Pillar of the Community
United States
7629 Posts |
Oh...and I forgot to add that 1955S cents are the most overvalued late date wheat cents in existence. Nobody can really answer for why they sell for so much. WAY too many BU rolls were saved, and they are common as dirt. I have five of them sitting on my desk, and probably another 20 in my sell box. To counter that, I have one 1955 plain and four 1955D rolls. I have always found 1955S rolls difficult to sell.
The reason why they were saved? 1955S was the last S-mint issue for wheat cents, and was perceived at the time to be the last S issue for cents - period. Unfortunately for all the people who hoarded them thinking they would have extra value, the San Francisco mint began issuing S-mint cents again in 1968. This killed much of the extra value they would have had. Like with a lot of other 'firsts' and 'lasts' in coins, too many were saved to meet collector demand. Like I said earlier, the reason for their higher value is a mystery.
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Pillar of the Community
United States
7629 Posts |
And yes...a 1955P mint sealed bag would be valued considerably higher than a 1955S mint sealed bag (which this is not).
The difference between mint sealed and bank sealed (which this one is) is that there's at least a chance of receiving a number of errors in a mint sealed bag. Because they were counted and rolled by a machine at a bank, the chance of finding valuable errors is considerably less in a bank sealed bag. Mint sealed bags of coins have never been through rolling machines, so finding deformed errors is still very possible.
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Posted 07/22/2009 2:44 pm
