Fair Price for OBW Roll of 57, 58-P,D Lincolns?

Coppernicus

Greysheet has them $5.00 bid/ $5.50 ask. What should I expect to pay one of my local dealers? (No ebay) Would it matter if he had some on hand or had to get them for me? Any thoughts and/or experiences would be appreciated.

Mike

oreville

At least 50%, if not more, over greysheet for them if they are the true unopened original bankwrapped ones in the colorful wrappings or in the Federal Reserve Bank of xxxxxxxx wrappers.

Three years ago, I managed to pick up 100 rolls of the colorful red rolls of 1958-P (dates and mint mark are not shown on the wrapper....those are usually dealer wrapped rolls) with the name Guaranty Trust of New York on the rolls, in a US Mint 1958 dated canvas bag. I paid $2.00 per roll when the greysheet bid and ask was $1.55/$1.75 in February 2000..

I recently bumped into a business associate who works for the same outfit, now called the Morgan Guaranty Trust, headquartered in New York City. Well, he just went wild about those rolls and wanted all 100 rolls to give to each of the department heads and employees at a function they were having later this year (2003 happens to be the 45th anniversary of these rolls) and was willing to pay me $20, then $25 per roll!

I turned him down. I am just not ready to sell them yet. I would prefer that all 100 rolls stay together and intact.

Coppernicus

Thanks Oreville. I figured I'd have to pay over ask and 50% seems OK. Congrats on the 100 roll lot! I'd have a hard time not digging through them if I were you!

MIke

oreville

Arrrrghhhh!

Open them and ruin the rolls?

Somebody will want the opportunity to rip these open in 2023 when MS-99 cents are all the rage??????

MrEureka

Fair Price for OBW Roll of 57, 58-P,D Lincolns?

I don't really get it, but the market seems to think that they're worth anywhere from a few bucks a roll to $50,000 a coin, depending on quality.

oreville

MrEureka: These original paper bank wrapped rolls have begun to take on a separate set of values in addition to their coin values since there is a growing contingent of collectors (not necessarily coin collectors) who value the originality of the paper roll product with the bank name on them.

What is more important to them is the quality of the ink printing, the quality of the paper, the perfect circular look to the end of the roll crimping, etc. The rarer the bank on the rolls, the more desired they are. The rolls with the old First National City Bank of New York (the old Citibank) are HOT!!!!!!

This is no longer about coins themselves. This is about collecting old bank artifacts. The cheaper wheat ear cent years of 1955 to 1958 really are the golden years for these bank artifact collectors as the combination of stunning paper roll colors along with the desired wheat ear cents rolls have created a market that coin collectors simply do not understand.

If you saw the way these collectors examine these paper rolls, you would think they are roll collectors!!!!

NEVER TOUCH THE END CRIMPING OR TOUCH THE LETTERING!!! THEY WILL SLAP YOU!!!! (The same as not our holding coins on the edges!)

It would not surprise me to see a new organization spring up such as the Bank Rolls of America (BRA). You may look but don't touch!

poptopsRus

I think your greysheet is a little old. Latest bid is $7 per roll.

clackamas

If you are buying them to open up an cherry coins out the grey sheet is a base guide at best I just paid 2X ask for a hoard of 50 52-D rolls. But they were FED wrapped (stamped Federal Reserve Bank of Kansas City) and honestly were worth every penny and now knowing the quality I would have paid $40 a roll. If you are buying from a new source expect to pay around grey ask. If the rolls are nice (for a certain date) throw the sheet out. No sense going cheap and trying to save $3 when there is a real possibility for a coin worth far more.

wondercoin

I bought around $20k worth of fresh Lincoln rolls in the Goldberg auctions earlier this year and many seemed to be fetching upwards of around 10x sheet for decent rolls/dates. My best guess (just a guess based upon what I know) is I may have been the underbidder at auction on that roll of 1940 Lincolns that produced the $22k MS8RD. I guess that particular roll may have been a good buy at closer to 500x sheet the way I see it

Wondercoin

oreville

Virg Marshall up to three years ago couldn't give away his Fed/bank wrapped obw rolls, especially the 1955-D obw rolls!! He sold hundreds of rolls to me and a couple of friends at $1.75 a roll. He was so thankful.

Boy have times changed!

At one time the 1955-D rolls vied with the 1958-D as the cheapest of the wheat eared unc rolls .........what the heck happened?

cladking

<< <i>Virg Marshall up to three years ago couldn't give away his Fed/bank wrapped obw rolls, especially the 1955-D obw rolls!! He sold hundreds of rolls to me and a couple of friends at $1.75 a roll. He was so thankful.

Boy have times changed!

At one time the 1955-D rolls vied with the 1958-D as the cheapest of the wheat eared unc rolls .........what the heck happened? >>



While these rolls are hardly rare, an increased demand has shown that they are not nearly so
plentiful as most assumed. There just hasn't been much interest in modern rolls except from
variety collectors and they often just spend their rejects. This attrition plus the normal attrition
and rolls becoming tarnished has reduced the already "small" supply.

Geoman

My dealer has a BU roll of 58-D in his case for $8.

BigBen

I know this is an old post but does anyone know the current state of prices for 50s and early 60s cents original bank wrapped rolls?

Thanks!

BigBen

pharmer

Haven't seen a CDN lately, but I bet they are still close to the $8 Geoman mentioned 3 years ago.

BigBen

Even for original Wheat OBW Rolls??

pharmer

How do you ID them as such? Take the seller's word?

BigBen

I bought these from an old local dealer who dug them out of a safe. He was the only guy in my area that had any so I bought everything he had

BigBen

Another thing I was wondering is, if there are so many BU Rolls and OBWs out there, why are prices so high for modern (late 40s through late 60s) MS-66 Lincolns and above? Is it that most collectors only like to buy already certifed high grades and only a few crazies like us actuually do the leg work to find these and certify them, creating a supply issue just because of the lack of crazies lol?

pharmer

<< <i>Another thing I was wondering is, if there are so many BU Rolls and OBWs out there, why are prices so high for modern (late 40s through late 60s) MS-66 Lincolns and above? Is it that most collectors only like to buy already certifed high grades and only a few crazies like us actuually do the leg work to find these and certify them, creating a supply issue just because of the lack of crazies lol? >>




Us? Got a mouse in your pocket?


There would be none for "collectors" to "collect" if we didn't find them first, yes.

BigBen

Sorry pharmer no insult meant there Just being humorous about us roll searchers.

BigBen

Anybody with any updated info on OBWs of 50s wheats?

Coppernicus

I've bought a bunch of OBW rolls recently. Most are truly unopened, but some have obviously been opened, searched and "resealed" in an attempt to pass them off as unopened. You can spot these a mile away - one end is rolled tight, the other is loose and "flappy." This one is a fantastic roll:

Truly Unopened

Most rolls in the late 50's (58-P,D, 57-P,D) go for about $10 and up. Others go for monster money (e.g. '54-P)

Mike

BigBen

Thanks Mike. The ones I have are mixed shotgun on one end and "flappy" on the other but all are original as the "flappy" end has toned the coins into rainbows and brown colors, etc. I bought them all from an old time local dealer who dug them out of his safe. I paid an average of $2 a roll for them so I think I did all right I've been finding some nice high grades in them as well as rainbows and beautiful toning, etc. I don't search for errors unless they are visible to the naked eye as I don't have the time right now. Maybe when I'm older I can pull them out and look at all of them (100s of rolls!) and look for errors. I'll probably keep some in the original rolls for posterity, but it's mighty tempting to break them open lol.

BigBen