How would/do you value an OBW roll?

Bochiman

So, you have/want a roll of quarters that are in an unopened OBW roll. You feel pretty good about it really being an OBW and not searched through, yadda yadda yadda.



Do you value it at melt+? (plus what?)

Do you value it at PCGS guide per coin?



Let's say the end rolls are somewhat toned, but not monster toned. Let's also say that the end roll coins grade appears average.



Do you think MS-63? MS-64?



For those that HAVE purchased/sold these (let's say Roosevelt Dimes/Washington Quarters....or even some others, but let's keep them as 90% silver and unc OBW rolls please), how have you valued them?



Not looking for "ebay and let the price decide" type of answer. Looking for honest to god reasoning.....

Bochiman

Here...to give an actual fun example....





You have an original unopened bank wrapped roll where the end coins are 1960-D Roosevelt Silver Dimes. You feel VERY confident the entire roll is the same (1960-D).



The end roll is H-T. You do not see a FB on the T end.





How would people value these? Assume all are non-FB? Assume all are low grade MS? Assume there may be a FB in there somewhere and may be somewhere around MS-65/66?



If you have sold/purchased anything like this, how did you do it in figuring the value?

davewesen

greysheet

you need a rare dime to pay for cost of grading

TopographicOceans

It depends on if you are the buyer or the seller.

A buyer is only looking at todays spot price as a base and a seller has a value established when they bought it.

If you are the seller, then it depends on when you bought it.

If you bought it before 2010 spot price is about the same now.
If you bought it during the last peak in 2011 spot was about $48 an oz. and it's down to about 37% of that now.

An OBW is like an unopened proof set. Any premium is based on the possibility there are undiscovered gems there.

The last OBW of Franklin halves I bought was in mid 2013 when silver was about $21 an oz. and I paid $245 for it.

I sold it in March 2016 for $287 after listing it for a few months.

Spot was about $15.50 so I was lucky that the buyer was willing to pay a high premium for it being an OBW roll.

I priced it at $287 because I paid $245.
I made $12 after expenses or a ROI of 4.9%

291fifth

20-30% under graysheet bid for the roll. There is no reason to be generous. The coins are unslabbed (a major expense these days) and you are buying without being able to examine the coins individually. If the seller wants more, pass.

ricko

I agree with 291fifth. Even if we accept that it is OBW... it is still a pig in a poke. Cheers, RickO

TwoSides2aCoin

Highest coin ever graded out of an OBW, for me, is MS 67 although I was perplexed that it got the Satin Finish designation. That particular submission still irks me. I value the OBW as an unsearched roll. Some coins are worth more than others, for some strange reason. And " like a box of chocolates .... "

mustangmanbob

I bought 10 rolls of 1955-S 1955 and 1955-D Roosevelt Dimes, OBW when silver was north of $35 or so, from a coin shop, basically at melt +1, i.e. if melt was 23X face, then the coins were at 24X.

I never opened them, and sold them soon after, north of $45 for melt plus a small amount.

I figured the "buying" power of the rolls in 1955, the melt value, what would have happened if they just would have been in a savings account, sold in the rush of 1980, and all the scenarios were depressing.

AUandAG

I need to compete with my local B & M and he's paying 5x face. I'd pay 8.



bob

Bochiman

Originally posted by: 291fifth

20-30% under graysheet bid for the roll. There is no reason to be generous. The coins are unslabbed (a major expense these days) and you are buying without being able to examine the coins individually. If the seller wants more, pass.

I just bought a GS last night.



I know there would be no way in hell I would sell one of the rolls for 20-30% under greysheet as that would put it at melt, or below.



I wouldn't even, as a buyer, insult someone with a 20-30% under GS if it put it at or under melt. Just not in me to try to screw someone like that.

291fifth

Originally posted by: Bochiman

Originally posted by: 291fifth
20-30% under graysheet bid for the roll. There is no reason to be generous. The coins are unslabbed (a major expense these days) and you are buying without being able to examine the coins individually. If the seller wants more, pass.

I just bought a GS last night.

I know there would be no way in hell I would sell one of the rolls for 20-30% under greysheet as that would put it at melt, or below.

I wouldn't even, as a buyer, insult someone with a 20-30% under GS if it put it at or under melt. Just not in me to try to screw someone like that.

Once melt value comes into play it is no longer a numismatic item. It is nothing more than a commodity. My comment refers only to rolls that are still within the numismatic arena.

david3142

Nobody would sell these for melt. OBW have a premium because they are unsearched. I consigned about 40 1963 dime rolls on eBay and they brought around $100 each - twice melt value.

Bochiman

Originally posted by: david3142

Nobody would sell these for melt. OBW have a premium because they are unsearched. I consigned about 40 1963 dime rolls on eBay and they brought around $100 each - twice melt value.

Thanks David.

That's what I was wondering.

bestday

Originally posted by: 291fifth
20-30% under graysheet bid for the roll. There is no reason to be generous. The coins are unslabbed (a major expense these days) and you are buying without being able to examine the coins individually. If the seller wants more, pass.

dealers will value as melt...let seller pass

bronco2078

Originally posted by: david3142
Nobody would sell these for melt. OBW have a premium because they are unsearched. I consigned about 40 1963 dime rolls on eBay and they brought around $100 each - twice melt value.

As a seller that's good money no doubt about it. As a buyer , what is there to search for though? If it is a solid date roll of 1963P coins the only thing I see is one DDO . So pay what to get that slabbed if you find one , and sell it to whom for how much?

I see some slabbed on ebay for 98 to 120 but no sales . Maybe a few would sell at $50 but paying double melt for the chance to bury yourself in something like that seems like a pretty boring way to go broke.

I bought $10 face of 1964 quarters in unc last week for $130 . I liked them at that price but if they were in a piece of paper and the dealer wanted even $150 I would have passed . If there was a type B reverse in the lot and I knew it , I don't see how I'd think differently . I've found a few of those over the years but the only profit to those would go in PCGS pocket which does nothing for me. I'll set them aside in 2x2's still but I see no reason to send them in.

Overdate

I wouldn't buy a numismatic OBW roll any more than I would buy a raw 1916-D dime. I'm not confident enough in my ability to detect a non-original roll. There's no guarantee that the interior coins will match the end coins, let alone whether any high-grade specimens can be found.

david3142

For 1963 dimes, a 66FB is a $300 coin and a 67FB is $1000. That's the appeal. Also, BU coins are worth more than melt. This isn't a roll of circs we're talking about here.