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GW research question...
AskRaq
Posts: 2,303
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
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
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Richard.
Richard.
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
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??>>
All The Way - And Then Some
I collect Modern Commemoratives
and anything Franklin.
Welcome.
Rob the Newbie
I wondered at the time if they were turned in or if the bankers are opening them now.
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
Fighting the Fight for 11 Years with the big "C" - Never Ever Give Up!
Member PCGS Open Forum board 2002 - 2006 (closed end of 2006) Current board since 2006 Successful trades with many members, over the past two decades, never a bad deal.
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.