Bank Rolls war Nickels, Bulk Submission?
Ppp
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I have three bank rolls of 1944 p,d,s Jefferson Nickels, at east thats what I was told by a very reputable dealer.
I am considering sending them under Bulk submission to PCGS. It appears my break even grade would be MS66, if graded, whereas if any are FS that would be a bonus because breakeven grades range from MS64 to MS66.
Once I get them back I can look for any 1944 repunched MM.
I know unless I get a very high grade on some this entire exercise might be breakeven at best over time.
Does anyone have experience sending bank rolls in to PCGS?
If yes, were you happy with the results?
What is your opinion should I or should I not send them in?
Note: If I do send them in since pcgs allows up to five different years I do have some other coins I might piggy back on this submission but this would not be my deciding factor.
Comments
if you are set on sending them in, open them and only send the best
I concur. Why wouldn’t you prescreen them? Sending in 120 coins just to be lucky to break even doesn’t make sense. Send in only the repunnched mm variety ones, and the best small group. You’ll save a fortune.
those look opened and already searched for the best
what would your minimum grade be?
What is the cost on a per coin basis when you send in a bulk order like this?
Might be a fun experiment.
Good thinking
https://www.pcgs.com/services/bulksubmissions
Overall better to send bulk and hope than send less than 100 bulk and pay more.
Here is something I heard was, "It does not matter what grade you or others think it is what the PCGS graded thinks"!
i thought of the price differential, but the odds favor finding a couple tops
anyway, if the plan is to send them in, then opening won't hurt. if they are all dogs the you save 100% the cost of admission
If someone is a proficient grader it matters a great deal what they think, when deciding which
coins merit the cost of submission.
Submitting coins in bulk and just hoping for good results sounds like a poor strategy.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Thank you for your comments and suggestions. Everyone got me thinking.
My original thought was to place a minimum grade of ms66. At this grade minimum bid is about $30- which I estimate would be my breakeven.
If a coin is graded the cost is $14-and if it doesn't then I get charged $2-
Worst case no coins grade thats $280- plus shipping and fees therefore total I estimate $400-. Do I want to gamble?
If I decide to send them in hoping for a Christmas in July moment I will probably post the results.
Some people (not saying this necessarily includes the OP) are under the impression that an unopened roll is likely to contain blazing high grade coins.
The reality is that old original rolls might well contains scruffy or average coins that are not worth grading.
Didn’t bulk orders used to require that something like 50-75% of the coins in the submission actually holder? Seems like I recall this in the bulk agreement years ago.
It was a way to prevent putting an extremely high min grade (for example a min ms69 on Lincoln cents) and forcing pcgs to do all the work for you, with them getting little compensation ($2/coin) if nothing became a top pop.
Especially if they were pulled from circulation in the 50s or 60s. There might be clues in the text on the rolls.
ANA 50+ year/Life Member (now "Emeritus")
Author: 3rd Edition of the SampleSlabs book, https://sampleslabs.info/
Bulk submission maybe, a blind bulk submission would not be necessary. What would @Coinscratch do?
I must be misunderstanding something. Rolls look previously opened. Cannot imagine not checking for quality coins. PCGS doesn't care regardless whether the rolls have been opened or not. Just not clear as to the issue of whether to check or not.
Jim
When a man who is honestly mistaken hears the truth, he will either quit being mistaken or cease to be honest....Abraham Lincoln
Patriotism is supporting your country all the time, and your government when it deserves it.....Mark Twain
My guess is that, in order to justify his username, @Coinscratch would scratch the coins. 😉
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Like @MsMorrisine said; open them and only send in 2 or 3 of the best ones first. Chances are only 2 or 3 will be worth sending in. If you're lucky.
Those are the best war nickel dates.
That they are open doesn't mean they're picked over but it certainly provides an opportunity to take a quick look and see if they are any good. Sometimes these rolls are skunked by poor storage and many rolls have no nice looking coins at all because Gems are made in batches, not randomly. Dogs are far more common and are also made in batches.
If one roll is gemmy you might consider sending it in but otherwise I would search them first.
I believe that the '44-D will emerge as the best not because it's so much scarcer but because nice circulated coins are tougher. Do check those RPM's since they are all going to be scarcities in a few years.
Everyone convinced me, thank you. I will check them out first and see what I have. It takes some of the surprise away but I agree it is the smart thing to do.
Show us pics of what you find to be the best of the bunch and then post results later.
Best of luck!
I've only sent one roll of RD Wheat Cents in for bulk grading. Coins pre-screened by a former PCGS grader. Needed RD 6s for most of them for submission to pencil out. It did. I'd have any submission to any grading service prescreened .
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Definitely a possibility that some examples may be of the lamination type. Warniks are known for this.
Are they Gem BU? Got pocket? If gem BU would send in a few. Then go from there.
Jimmy says send in 3, then when come back minimal markup slab cost plus indiv coin cost x 2 or CPG if higher. Then if sell get more.
I picked up a roll of nice BU franks at show once (had to hide them at my table in bank bag bc people trying rip me on them) so have chance send ones needing grading get all the money. Most sent in and did really well on that deal.
I would like to see them fanned out to see what you have there.
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