Newbie question re: USMint purchases

skydivdav

Pardon my ignorance here, as I'm newly in love w/ coins and collecting. Is it rediculous to buy coins (state qtrs/nickels) from the U.S. Mint in rolls or bags just to open them and check for errors or otherwise? Thanks in advance!

ormandh

Yes it is. Why do you not just go to the bank and get unc. rolls?

Rampage

My opinion is that it is a waste of money because with the new presses, rarely will you find a nice error, other than die cracks, filled, dies, etc., which command little to no premium. The best you could hope for is a quarter struck on a nickel planchet, or a quarter with one or both clad layers missing.

I think with the money you will be spending on those bags and rolls, you will be better off buying them from a reputable dealer of errors. You can make these purchaes from Mike Byers or Fred Weinberg, just to name a couple. If you can appreciate high dollar spectacular errors, visit Mike Byers website at www.byersnc.com. For less expensive spectacular errors, such as the missing clad, etc., check out Fred Weinberg at www.fredweinberg.com.

Cheers, Richard.

skydivdav

I didn't realize banks carried uncirculated coins. Do I simply go there and request them? I'm in a small town. Do banks in even the smaller towns have them available? thanks

skydivdav

Hey, that's me drinking from the toilet!

BillJones

In "old days" the best, really only source for major state quarter errors was from bags of coins. Still you had to look through many, many bags to find them. Another less ethical source was U.S. Mint employees who were stealing and sometimes making errors on the side. The mint management came down on some this stuff HARD.

The mint is really tightened its operations, and there are far fewer errors escaping from it now. A coin dealer is the main source. The overpriced rolls and mini-bags that the mint sells are probably the worst source.

ormandh

You probably will not find many errors in unc. rolls from the bank, but you are not out any money if you do not find any. Go to the local banks and ask for unc. rolls of coins. If they have any they will gladly trade you for face value. -Dan

skydivdav

Thanks guys! God, you guys are helpful! I just "fell" into this coin collecting thing eight weeks ago, and I can't get enough! I started w/ Lincoln cents, before I knew there were a coule of pennies out there worth more than this boy can afford, but I've had fun searching several thousand wheaties found on eBay.

I'm currently working on a state quarters book too, and recently bought a sweet error NC State quarter which is cool since I'm in NC. It's 20 percent off ctr or so.

Thanks again for your info and quick responses!!
david

cladking

Welcome aboard.

The premium on the mint rolls is much higher than what the same coins sell
for from dealers or banks. It's possible that the mint rolls have or will contain
better coins than others but until you know which ones the premiums will be
much too high. Talk to the vault manager at the biggest bank in town and
there's a good chance he can get you a box of new coin. There are lots of
collectors who trade the new coins so get extras and trade.

When you find a source for a variety, or gem there is an excellent chance that
there are more of the same in the roll, bag, area, etc. Errors generally don't
bunch up this way but they can sometimes.

kenoshapete

Welcome aboard. Don't drink from the toilet anymore--you won't find many good coins in there, just a bunch of crap