GW research question...

AskRaq

Hi people! I have been an occassional board watcher for a good long time now (was a huge unknowledgable coin & paper money as a kid - only to find out as an adult I had collected a buncha common crap - LOL). Well this is my first post since I have been reading the board daily for the last coupla weeks (the GW debacle and all), and finally had to "sign up" so that I could ask a question or two...
I got my fair share of smooth edge coins (more than fair actually) at a local bank here in Florida at the tail-end of the craze (was very lucky!!) But they all looked pretty crappy, so I started doing some research. I have come to the personal conclusion that this bin was pulled off the line due to die fatigue and the crappy quality of the coins (I didn't have a single coin without the "starburst" affect & a chin crack "whisker", (about 1/3 had the "filled S" die cud), not to mention they are heavily marked up from "fresh from the mint roll". I figure they were meant to be "recycled" and someone else saw the bin and thought they were done and ready for rolling??
Without realizing it I spent 50 of the inscripted edge ones that were all off-center on the reverse (from the same bank rolls) only to see them selling pretty sweet on eBay! Duh!Did anyone else here that acquired a quantity of these have the same experience with anomalies and such?
(And by the way, can amyone tell me how you contact each other directly without posting on the board??)
Thanks!
Raquel in Florida

Rampage

Hello Raquel,

We use private messages (PM) on the forum. You can turn this function on by going to your user profile in the upper right hand side of your screen. When you do that, a little lock will appear for you. That is where you go to write to people and read messages.

Richard.

Rampage

PS--Welcome to the message forums. PM me when you turn your PM function on.

Richard.

MadMarty

Welcome to the zoo!!! Please don't feed the animals!!!

Coinlearner

CaptHenway

I believe that somebody floated the theory that the bulk of the plain edge pieces were rejects that accidentally got bagged, but I don't think anybody ever offered any evidence that that was so. Also, the Mint does not generally reject business strike coins because of the so-called "starburst pattern" of die wear. That is just a normal occurence to them.

I have seen several plain edge pieces from both Mints, and the condition has been very average, so I do not think that this theory holds water.

TD

AskRaq

Well, my "personal" opinion may well be wrong.... I didn't realize that the standards for business strike were so lax? Anyway, I just got back from my local NGC Authorized Dealer (Antwerp Diamonds) here in Sarasota - and was actually surprised by what the Owner/Dealer said about the coins. (I went there to have them pre-screened and see if any of them were even worth having graded & slabbed) Well, out of 41 smooth edge coins, he said 6 of them might have a shot at NGC with the highest possible being an MS64, another dozen or so he said might make a MS62-63, maybe... so I'll probably just send the six in along with the better 2 of the 4 die-clash (incused edge) coins that I have. He also noted that the faces were all pretty marked up on them (no kidding).
On another note (from a previous thread, but pertinent to this topic also), someone had asked how much the dealer(s) were paying for smooth edge coins: Well, over the phone I was offered $50 a piece... once he examined them he asked how much I'd sell him 10 for? I said I'd have to think about it, he then offered -("probably over-priced", he said) $100 ea. for up to 20... of any quality - even the lowest! I told him I'd think about it and get back to him tomorrow. <<Um, am I missing something here??>>

combatmailman

to the boards.

Rob85635

Interesting post, congrats on the finds. When the Wisconsin leaf varieties came out I bought rolls, not a single one. And I live an hour from Tucson.

Welcome.

Rob the Newbie

BlackBeard

I'm in Florida and managed to get some of these last week. I figured after work today I would check a few banks and see if there was any chance some where still around. None to be found as expected. My sister has a friend that is an officer at a bank and managed to order a box from another bank that has some. I then rushed over to that bank and, yes she had $400 in rolls I could get. Naturally I took her up on them and when she came out...16 rolls hand wrapped in blue/grey secondary wrappers. I passed. I have the feeling the box on order will be very simular.

I wondered at the time if they were turned in or if the bankers are opening them now.

Texast

Hello Raquel,

Welcome to the boards. I had brought up that theory a few weeks ago, never got much response to it. As far as the smooth edge coins if your selling them you may want to post them in the Buy Sell Trade section on here, you can save a bundle on Ebay fee's that way, plus the group here would be more reliable on the payment end of things. If you are selling please send me a Personal Message as I would be interested. To send a personal message click on the lock symbol of the person you want to send a message to. Also make sure your personal message is turned on in your profile.

For more information on the smooth edge coins you can check out www.GWdollar.com

Tim

AskRaq

Blackbeard,
Yes, I had the same experience... but not even that good! Many of the larger banks had the Stringer & Sons rolls that were taped back together, some with customer names on them even, and the tellers were adamant that they were never opened!! I think some of the bank employees are definitely checking their rolls, and others are clueless about why the Washington dollars are so popular? Unfortunately I doubt the smooth coins will be showing up at any more banks. I know a lot of tellers said they aren't ordering any more (and some even refused to 'sell' the ones they had) because they were sick & tired of the rolls being returned... go figure.
What's even funnier is that most of the Post Offices I stopped at last week (trying to find the small Priority Mail boxes) even had their stamp machines turned off/unplugged/out-of-order because they obviously couldn't keep the dollar coins in them for change.