I just spent $2500 on a coin roll collection dump at my favorite Chase!

Kurisu

A couple weeks ago Chase had a little surprise for me...11 U.S. Mint Rolls of American Innovation Dollars!

But that was nothing compared to this!
I'd say today was my first ever pickup of a more serious collection dump of any type.

Those who know me know how much I LOVE rolls. So there was no way I was passing this up when one of my favorite tellers told me she just got a ton of rolls from a young lady who inherited a collection from her grandpa.
She knows me well and even told me the story...her customer inherited these rolls from her Grandpa in New Mexico and had no use for them but wanted to use some of the money towards helping to pay for the funeral expenses.

Believe it or not, the story actually checked out, because when I got these home I looked at the bottom of the box and there was Granpa's name, an extremely unusual long last name that sounds Native American to me. Googled it and saw that he passed away in New Mexico on Oct 30th.

Glad these aren't going to just disappear into the fray, honored to have spotted it with help from one of my favorite tellers. Via the teller or branch manager I can leave a nice Christmas card for the young woman who inherited these and turned them in...I'll leave a nice little supermarket gift card in there or something for her. Just feeling grateful and wanted to share this wonderfulness with the group.

I'll probably sell the box to a local coin dealers who's a friend for years and has made me some really nice deals during the last few years. I'll give him a wonderful deal of course. Keep one or two of each for myself and sell the rest on ebay or something...and these are selling! Just checked the ebay sold listings and they sell for about $35-$40 each plus $5-$10 for shipping.

They're all in brand new condition too!
There is only one damaged and taped up roll in the whole lot, so I'll open that onefor fun tonight.

Happy Holidays to me! My birthday is coming just before Christmas as well

Coinscratch

Happy birthday and Merry Christmas!

OAKSTAR

That's what I'm talkin' bout!!! 👍

johnny010

If she had to dump them to pay funeral expenses I’d suggest pay it forward…sell them and leave her the profit at the bank for her next return. She didn’t know what she had.

Cool story and great teller you have there.

jt88

Very nice story. Nice rolls.

jt88

Merchants don't like those coins. Some of them even refused to take them.

Mr_Spud

That’s great 🤠

Jeffnlu

I've got around twenty of those rolls from when my wife worked in a bank. I had no idea they are worth more than face.

Kurisu

@johnny010 said:
If she had to dump them to pay funeral expenses I’d suggest pay it forward…sell them and leave her the profit at the bank for her next return. She didn’t know what she had.

Cool story and great teller you have there.

Yup, if the teller or manager tell me they know who she is and that they see her once in a while or frequently than I'll be leaving her a gift as I mentioned. Realistically I'll probably leave her a $50 Visa gift card or something.

From what the teller told me it just sounds like she doesn't know what to do with 40lbs of small dollars that are worth a few dollars over face value each roll (which she probably didn't even know) and wants to contribute to the family's funeral costs, whether it's actually needed by the family I have no idea.
She's smart, she figured out how to turn it into $2500 in a few minutes

I certainly don't need (or really want) that many rolls taking up a ton of space either and the ones I sell on ebay aren't going to happen quickly (photos, listings, packing, shipping...). Realistically I may make $400 with much more effort than she put into it because I'm also smart like her and don't want to be stuck with them either

They're not extremely valuable coins that will go up in value dramatically...And I still have to work for a living

ProofCollection

@Kurisu said:

@johnny010 said:
If she had to dump them to pay funeral expenses I’d suggest pay it forward…sell them and leave her the profit at the bank for her next return. She didn’t know what she had.

Cool story and great teller you have there.

Yup, if the teller or manager tell me they know who she is and that they see her once in a while or frequently than I'll be leaving her a gift as I mentioned. Realistically I'll probably leave her a $50 Visa gift card or something.

From what the teller told me it just sounds like she doesn't know what to do with 40lbs of small dollars that are worth a few dollars over face value each roll (which she probably didn't even know) and wants to contribute to the family's funeral costs, whether it's actually needed by the family I have no idea.
She's smart, she figured out how to turn it into $2500 in a few minutes

I certainly don't need (or really want) that many rolls taking up a ton of space either and the ones I sell on ebay aren't going to happen quickly (photos, listings, packing, shipping...). Realistically I may make $400 with much more effort than she put into it because I'm also smart like her and don't want to be stuck with them either

They're not extremely valuable coins that will go up in value dramatically...And I still have to work for a living

I wouldn't worry about paying it forward for that ~$400 profit. You will earn every dollar of it. This is not found money but rather a job.

1madman

@Jeffnlu said:
I've got around twenty of those rolls from when my wife worked in a bank. I had no idea they are worth more than face.

I agree. What dealer is paying more than face for these rolls? I think I can dig up some too.

Kurisu

@1madman said:

@Jeffnlu said:
I've got around twenty of those rolls from when my wife worked in a bank. I had no idea they are worth more than face.

I agree. What dealer is paying more than face for these rolls? I think I can dig up some too.

Well because he's my buddy I'll probably offer him the $1000 box for something like $1150.
He should easily be able to sell them for about $32-$35 each or maybe even more. He's does very well in his brick and morter store.

joeykoins

Many possible varieties!

AUandAG

Looks like your Chase Bank is the new Mint but cheaper!!

bob
vegas, baby!

Steven59

WOW! Great acquisition.

wondercoin

I believe the US Mint is still sitting on unsold Unc. Presidential Dollars dated 2007-2010 that if stacked one on top of the other would reach the Space Station. In fact, they had to build a special facility in Maryland just to house them. I’m not sure that future sale will do as well as the “CC” $1 hoard sale. 😂

Congrats on your find though!

Wondercoin.

Edited to add - can we fact check this please. Space Station is 250 miles up. If we divide that number of miles by the thickness of a single coin- how many total coins is that?

SIowhand

@wondercoin said:
I believe the US Mint is still sitting on unsold Unc. Presidential Dollars dated 2007-2010 that if stacked one on top of the other would reach the Space Station. In fact, they had to build a special facility in Maryland just to house them. I’m not sure that future sale will do as well as the “CC” $1 hoard sale. 😂

Congrats on your find though!

Wondercoin.

Edited to add - can we fact check this please. Space Station is 250 miles up. If we divide that number of miles by the thickness of a single coin- how many total coins is that?

~229,680,000

wondercoin

Thanks Slowhand. I pulled up some of my notes when I testified in Federal Court in Kansas City a few years ago on the Presidential Dollar program. Mind-boggling stuff here - yes?

‘’Prior to the release of Presidential Dollars, the Unites States produced “Sacagawea Dollar” coins. The Sacagawea $1 coins, which began in the year 2000, failed to gain widespread circulation in the United States. There was simply extreme public resistance to the use of the dollar coin despite a reported $67,000,000 (3 year) marketing campaign by the federal government to promote the use of the Sacagawea dollars.

It was intended that the ever-changing designs of the Presidential Dollar series would greatly increase the public’s demand for a circulating dollar coin. Since the fifty new designs from the state quarter program resulted in a large profit for the government from 1999-2005, it was hoped that the Presidential dollar program would essentially be a repeat performance.

Yet, unlike the State Quarter program, which suspended the issuance of the current design during that program, the Presidential $1 Coin Act (Public Law 109-145) directed the Mint to continue to issue Sacagawea Dollar coins during the Presidential series. This resulted in two different dollar series coins being issued at the same time when the public’s true appetite for these dollar coins hardly required even one series.

And, after roughly $30,000,000 in marketing, it became clear that the American public was also not interested in using Presidential Dollars. U.S. Mint Director, Edmund C. Moy told a congressional panel, “we have tried every major idea that we can come up with, with limited success. Americans are creatures of habit. They are very used to using the bill. They're not used to using coins in regular retail transactions." Moy also identified an economic "awkward moment" in retail transactions involving the $1 coin where the buyer is afraid the cashier will reject the coin and the cashier is afraid the buyer will not accept them in change. In short, the Presidential Dollar program was a failure for the United States government almost from the outset.

By 2011, it was estimated by the Department of the Treasury (“DOT”) that there was a surplus of roughly 1,400,000,000 Presidential dollars (about a ten year supply). This is a stack of coins that, if placed on top of one another, would be eight or nine times higher than the International Space Station!

In December, 2011, it was decided by the DOT that the minting of Presidential $1 coins for circulation would be suspended. Future entries in the program, beginning with those of Chester A. Arthur, would be issued in reduced quantities, only for collectors based upon perceived collector demand.’’

Wondercoin

Fraz

@johnny010 said:
If she had to dump them to pay funeral expenses I’d suggest pay it forward…sell them and leave her the profit at the bank for her next return. She didn’t know what she had.

Fill an album for her.

davewesen

@wondercoin said:
I believe the US Mint is still sitting on unsold Unc. Presidential Dollars dated 2007-2010 that if stacked one on top of the other would reach the Space Station. In fact, they had to build a special facility in Maryland just to house them. I’m not sure that future sale will do as well as the “CC” $1 hoard sale. 😂

Congrats on your find though!

Wondercoin.

Edited to add - can we fact check this please. Space Station is 250 miles up. If we divide that number of miles by the thickness of a single coin- how many total coins is that?

I can't wait for the GSA bid auction

wondercoin

‘I can't wait for the GSA bid auction”

If it happened tomorrow, would you pay $980,000 for 1 million coins delivered to your door?

No way for me!

Wondercoin

telephoto1

@Jeffnlu said:
I've got around twenty of those rolls from when my wife worked in a bank. I had no idea they are worth more than face.

Most aren't.

TwoSides2aCoin

Your rolls make my eyes roll.

mark_dak

If they stopped printing $1 notes I would believe the public would have come around to the idea of the dollar coin by lack of any other viable options. The government can foist everything else on us, what's the problem?

Mark

BuffaloIronTail

@OAKSTAR said:
That's what I'm talkin' bout!!! 👍

You did the honorable thing - saving those coins for posterity.

They would have just "faded away" like General McArthur once said.

Pete

OAKSTAR

@BuffaloIronTail said:

@OAKSTAR said:
That's what I'm talkin' bout!!! 👍

You did the honorable thing - saving those coins for posterity.

They would have just "faded away" like General McArthur once said.

Pete

Thanks but I didn't save them. I think @Kurisu did.