I Was Offered (5) BU Mint Sewn Bags of 1999(p) CT State Quarters Today At Face

wondercoin

and really wanted to pass. In fact, after I said "OK", I then said "on second thought, why not just drop them at the Bank". Seller, basically said "I own them now", so that is something I am free to do at this point. Hey - it's not so bad at FACE VALUE I guess!!

My point of this true strory is:

1. 20,000 fresh, original 1999(p) CT quarters in mint sewn bags and history has shown there is little chance to pull a decent coin (MS67) from the bags. So much so, that few people wants the bags right now even at $1050 for $1000 face!!

2. Everyone "in the know" now knows these bags, overall, offer little more than low grade junk, which isn't worth the time and effort to even look through. The only reason I will open them now is to simply add 20,000 CT(p) notches to my "knowledge belt" on the quality of these coins. I am also the lucky owner of (4) MD bags as well, which came with the deal. 16,000 MD(p) notches soon to come as well.

3. It is very possible the predictions of massive quantities of high grade MS state quarters coming out down the road when folks start look at their coins might be somewhat irrational considering NO ONE EVEN WANTS TO LOOK AT THEM NOW with MS67 CT(p) still trading at around $300/coin for an MS67 coin!!

I thought this was interesting. Anyone else out there having trouble dumping their fresh bags of state quarters at face?

Wondercoin

mgoodm3

Pick out the nice ones and start spending. If you got them at face value you won't lose anything.

mgoodm3

Bring a bag to the next coin show buy a nice coin for $1000 and plop the bag down.

MacCrimmon

My take is that if they were rolled directly from the bags they might stand a chance of finding up to 2/1000 in 67. I bought a few bags of NJ (P & D) in early 2002 for under $1150 per bag and they were crap. After scanning maybe 20% of each bag I just took them to the bank (my bank just loves me) .

My suspicion is that these quarter bags were highly "traveled" and were literally beat to hell with all the jingle-jangle. I would think that 80% or more of any future 67+ quarter from 1999 will come from either OBW rolls or US Mint Sets, but not $1000 commercial bags.

1jester

"Bring a bag to the next coin show buy a nice coin for $1000 and plop the bag down." --mgoodm3

LOL!

wondercoin

Frankly, the best idea for these bags is to pour them on the floor and allow my 11 year old YN son to go on a treasure hunt tonight for any off-center or off-plachet specimens. The "error" possibilities are probably the best reason to open a state quarter bag these days

Wondercoin

fivecents

wondercoin.... Call Virg Marshall, the penny merchant guy. He is/was a major seller of mint bags of state quarters. You might be able to flip them for a quick profit.

pontiacinf

i sold some to sam for face this weekend...guess everyone wants the poundage outta the crawl space

IrishMike

Once you are done going through those let me know. I have 16 mint sewn CT 100 bags. Fortunately the other 99's brought me a nice profit. I don't have the desire to go through and cherry pick them. BTW they are still sewn shut and I am the original owner.

hookooekoo

I've been going through 100 count bags since about the time State Quarters came out. I search for the best one to keep for a specail display and keep a roll's worth of the better looking ones (even once looked through a 1,000 count).

I'd estimate that I've looked through 4,000 to 5,000 coins. Of those, I don't think a single one would grade MS67 (on both sides). Other wise, it seems to be a 50/50 chance that the best coin in the bag will be MS65 or MS66.

If your looking for high grade coins, I just don't think the time it takes to go through bags is worth it (unless you've got a lot of time to kill).

For the most part, I believe most of the high grade modern MS coins are coming from special mint sets. Those sets are made under higher than normal pressure and with early pressings.

relayer

I bought 2 $100 bags of SBA dollars in 1982 from the Mint. I hauled them around each time I moved over the last 15 years.

5 years ago B.E. (before eBay) I tried to sell them to a coin shop and was offered face value. Later I opened one up and kind of looked through them and deposited them in my bank. The teller said I would be better off selling them to a coin shop.

Last year I sold the other on eBay for $150, so perhaps the teller was wiser than the coin dealer.

cladking

It used to be a lot easier to check bags than it is now days. Back in the early clad era
it was usually strike which stopped coins from being high grade. To check a bag all you
really needed to do was sample a few from various parts of the bag. If there was even
one nice strike then you'd sit down and check the whole bag. There'd usually be ten or
twelve nice coins. Unfortunately you'd look at a lot of bags before you found the one with
some nice coins.

Today there will be good strikes in almost any significant accumulation and it's marks that
keep the clads out of high grade. There's no alternative then to sit down and look at them
all.

TheNumish

You never know what's going to happen. I had several bags of SC-D that I turned into the bank and now their worth $1,600 a bag. Doubt that will happen with CT but ....

rd5425

instead of looking for high grade coins, look for errors, you know those off center state quarters bring in a good chunk of change.

coppercoins

<< <i>instead of looking for high grade coins, look for errors, you know those off center state quarters bring in a good chunk of change. >>


Pretty much my thought exactly. You center all of your attention on grade and you'll never get anywhere. Dump them out, scan through them for missing layers, clips, blanks, off-centers, and other obvious errors, and you could end up with quite a pile of goodies.

Then again, if you don't want to do that, I'll buy them for $50 over what you paid for them and you can ship them to me on my nickel. I'll do the dirty work, and you can be guaranteed I'm not going to be checking them for grade - a waste of time.

wondercoin

Polished off Bag 1 of 9 tonight with my 11 yr old son - Justin. Here is what we found:

1. THE CT(p) BAG WAS ACTUALLY A CT(d) BAG!

2. FOUND ONE BLANK IN THE BAG AND A NEAT TONED (DIRTY COLORS) COIN - JUSTIN'S SOUVENIRS OF HIS FIRST EXPERIENCE WITH A MINT SEWN BAG.

3. WE WENT THROUGH ROUGHLY 1,000 COINS WITH THE BEST COIN FOUND POSSIBLY A SHOT MS66. IT MADE NO SENSE LOOKING THROUGH AN ADDITIONAL 3,000 COINS AT THAT POINT, OTHER THAN TO CONFIRM NO MORE ERRORS.

The hard part is tomorrow when I have to wrap 100 rolls while Justin is in school. But, he wanted to make sure we could crack open a fresh bag tomorrow night after he does his homework. He is hoping for an OC coin tomorrow!

All in all, some father/son "quality time" with 4,000 CT's

Wondercoin