20.00 Gold rolls?

Quarter1822

Hi all cu member,
I wonder that 20.00 Gold from 1850's to 1930's was Rolls or Bags? which one
I notice from ms61 to ms66 some 20.00 Gold few scratch still ms66. I guess come from bags?
Thank you for help

Dentuck

They come from unsearched rolls of Wheat cents on eBay!

Just kidding.

I don't believe these large, heavy coins were ever transported
or stored in paper rolls; rather, in cloth bags. As you've noticed,
even Mint State examples can have "bag marks" from contact
with other double eagles during shipping and storage.

BillJones

There would not have been much of a call for rolls of $20 gold coins back when they were current. Such rolls, which would have contained probably 10 to 20 pieces would have been heavy and cumbersome.

The mint poured these into bags after they were made, and banks and business, which used them for large financial transactions, moved them around in bags when they were moved. This is the reason why $20 Liberty coins are so scarce in MS-65 and higher. There was a lot of coin to coin contact, and since these pieces were heavy and soft, they got a lot of bag marks.

Jinx86

All shipped in bags, Ive read the same about capped bust halves being used mostly for bank to bank transfers. Which is why theres many higher grade examples available(I don't see them, that's what the book said).

Coinosaurus

I bet there would be a lot of gold dust in those bags if they got shaken around.

coindeuce

<< <i>I bet there would be a lot of gold dust in those bags if they got shaken around. >>



Documentation from the release of the Wells Fargo hoard shows that many of the coins found in those bags had noticeable traces of gold dust on the surfaces. And many of the WF hoard contained high grade coins by today's standards.

FredWeinberg

There were also private paper rolls
for gold coins - I have a paper wrapper
in a Capital holder that says on the plastic:

'Original Roll 1928 Double Eagles
Gem Uncirculated'

The brown paper says "$500 XX
B. Harrison"

(and handwritten in pencil '1928')


The $500 XX means 25 pcs. of $20's.

I don't know who/what the 'B. Harrison' means.

The paper is 8.5 x 4 inches

BillJones

I was researching (Google) the question when coin rolls started in an attempt to answer another question on this board when I ran across a Wikipedia article that gave roll sizes for gold coins. They said that there are 25 pieces in a roll of double eagles, which they described as "obsolete." I have heard of rolls of $2.50 and $5.00 gold pieces with 40 coins in each roll. Wikipedia says that there were 50 coins in $10.00 roll. Since there is nothing listed for $1 and $3 gold pieces, I'm guessing that rolls were not used prior to 1890 because those coins were discontinued in 1889.

As for Fred's comment about why a $20 gold roll would have a name on it, perhaps it had something to do security. The amount of money was so large and so important, that if any tracing were necessary, there would be a name someone could use. When $20 gold pieces were around, that was much as a month's wages for many families.

rec78

Wikipedia says that there were 50 coins in $10.00 roll.

This cannot be correct - just do the math,--- unless they are talking about 20 cent pieces.

roadrunner

<< <i>

<< <i>I bet there would be a lot of gold dust in those bags if they got shaken around. >>



Documentation from the release of the Wells Fargo hoard shows that many of the coins found in those bags had noticeable traces of gold dust on the surfaces. And many of the WF hoard contained high grade coins by today's standards. >>



Interesting hoard that "Wells Fargo" group of Saints. PCGS graded twice as many of them MS69 vs. MS64! I don't know if that's because any lesser grades were not submitted or that all the coins were basically superb.
The most often seen grade is MS66. The MS67's from that hoard make up >90% of all the MS67 Saints currently graded. In other words MS67 saints were pretty scarce items before the WFH. Over 95% of all current
MS68's are from this hoard.

BillJones

It sounds like the Wells Fargo coins were placed in a vault and were not moved for years. That is the only way that coins like that could have stored in bags and not been damaged. Perhaps they were on wood boxes stacked on top of each other like the coins that recovered from the SS Central America. Those coins were good shape for the most with many grading in the MS-64 to 66 range. That is pretty high for a $20 Liberty, which is often found in MS-63 or lower.

jmski52

<< I bet there would be a lot of gold dust in those bags if they got shaken around. >>

Documentation from the release of the Wells Fargo hoard shows that many of the coins found in those bags had noticeable traces of gold dust on the surfaces. And many of the WF hoard contained high grade coins by today's standards. >>

Seeing gold dust on a high grade old coin from a bag would be pretty cool, and would (in my mind) lend some credence to the theory that they were untouched. On those rare occasions when I've bought a roll or partial roll of current date AGEs or fractional AGEs, I will find some gold flecks on my fingers after I've taken a look through the roll.


It sounds like the Wells Fargo coins were placed in a vault and were not moved for years. That is the only way that coins like that could have stored in bags and not been damaged.

Maybe they were rolled and then stuck into bags before being put into the vault for longterm storage.

Quarter1822

Hi all cu member,
Many thank you so very much for I learn about 20.00 Gold coin.

ProofArtworkonCircs

<<Wikipedia says that there were 50 coins in $10.00 roll.

This cannot be correct - just do the math,--- unless they are talking about 20 cent pieces.>>

Gee, I took it to mean 50 coins in a roll of $10 coins or $500 total. You can take it both ways.,

DaveG

Here's a thread from April that might be of interest: Thread

ColonelJessup

$20's, at the very least, were shipped in $500 bags. The bags probably mostly sat in vaults.

I've seen numerous bags offered for sale at shows and auction. I have no idea how much or often they were used

baseballjeff

Could you imagine seeing a picture of one of these bags of $20 Gold pieces?

PerryHall

<< <i>$20's, at the very least, were shipped in $500 bags. The bags probably mostly sat in vaults.

I've seen numerous bags offered for sale at shows and auction. I have no idea how much or often they were used >>


A $500 bag would have 25 coins which would be a very small bag. I assume you meant 500 coin bags or $10,000 face value.

Dentuck

From the Library of Congress....

CREATED/PUBLISHED
1907.

SUMMARY
Image of men standing in a vault around a cart piled with bags of gold, viewed through the door of the vault. The men were transporting gold between the First National Bank and the Sub-Treasury in Chicago, Illinois.

Dentuck

Another from the Library of Congress. . . .

CREATED/PUBLISHED
1907.

SUMMARY
Image of men sitting in a horse drawn van with bags of gold on the floor while other men including a policeman are standing on the street around the van. The men are transporting gold between the First National Bank and the Sub-Treasury in Chicago, Illinois.

Dentuck

One more from the Library of Congress....

CREATED/PUBLISHED
1907.

SUMMARY
Image of two men, one standing in a van and one standing on the floor of the loading dock, passing a bag of gold while other men, including policemen, stand nearby. The men are transporting gold between the First National Bank and the Sub-Treasury in Chicago, Illinois.