Original Bank Rolls "OBW" Buying Guide rev1

[ray_parkhurst]

I've had a couple requests for my considerations when buying OBW rolls. I've written a bunch of them down in various posts, and eventually will pull them all together, but here are a few of them I pulled together today. Comments welcome.

OBW Cent Roll buying guide

1) Don't listen to anything the dealer says about the rolls. Make your judgement based on the rolls themselves.
2) Bank names on the rolls command a premium. No bank name, no premium over tubed roll price. Some banks are more valuable than others, for instance regional banks. Some banks reduce value, for instance Cleveland, because so many early 60's OBW were opened and then re-wrapped with 50's or even 40's or 30's coins.
3) Multiples of a given roll increases value, but usually result in lower asking price. This is a great combo for the buyer.
4) Check the end coins. One or both should have at least some toning, dust, scratches, fingerprints, etc. Full-brilliant is a red flag unless you can personally verify they were stored in near-perfect conditions.
5) Check the condition of the wrapper. Ends should not have any fuzziness, except maybe on high points where they were scuffed. Fuzziness usually means a re-wrap. Conversely, perfect and tight crimps usually mean a re-wrap as well. In general you are looking for fresh-looking but slightly messy crimps. Make sure there are no water stains or other nasty stains on the wrapper.
6) Check the characteristics of the printing on the wrapper, font, etc to be sure the wrapper is of the correct vintage. If you have time and find an unusual bank, make sure it was in business when the coins were minted. Google is your friend.


If all the above checks out, then you may have real OBW rolls in your hands.

For pricing, I usually allow 1.5x-2x premium vs CDN bid on rolls that check out per the above. Some dates command even more premium. Note there are certain dates that you simply won't find in OBW and should NOT pay a premium for. A few of these are:

Anything pre-1934 (99.9% probable they won't pass the above 6 tests anyway)
1943-D (the search for RPM#1 decimated OBW supply)
1944-D (the search for the two OMM's decimated OBW supply)
1946-S (there still may be some around but be very careful, most have been opened for the OMM)
1955-P (no, no, no, no, no)
1956-D (still available but again be very careful, most have been opened for RPM#8)

Ray

[simonm]

Great guide, Ray. This will really come in handy.

[Maineman750]

Thanks Ray, I also made a copy for my files in case I can't find this post

[Peter]

Thanks from me also Ray. Great that you shared your experiences on rolls. These kinds of insights can only come from years of experience and observation. I have 60s rolls that I know are genuine OBW that clearly exhibit the slightly messy crimp you refer to. Some rolls even feel a little loose, but it's hard to really put that into words. You really nailed it!

[copperlover]

Great summary on OBW purchasing Ray. Thanks a million for sharing these facts. I will use them when I see any sellers offering OBW rolls.

Lucien

[SDP73]

Great info. Thanks!

[Chugly]

Thanks so much for taking the time to write that out! A valuable guide for all of us! I don't buy many OBW's, but they are sure nicer to search than the circulated stuff I usually get! I have done well with modern OBW's, but the few older ones I have bought recently were very likely re-wraps as 95% of the coins were all facing the same direction when I opened them. I will be more careful and use your tips from now on!

[Clutchy]

Thanks Ray for the info. I also have a question for you. I received a obw of denver coins, that had wrappers from Albany New York. Its a year when Denver cents almost tripled Philly cents. Is it possible that the mint would ship Denver coins to NY for wrapping ? This wasnt a bank wrap, its from a wrapping company. I did crack it open, the enders were dirty and weathered and the 48 others had brown edge rims, with beautiful lustered coins. I got a good price on it. Scratch that. I got a great price on it.

[ray_parkhurst]

Thanks Ray for the info. I also have a question for you. I received a obw of denver coins, that had wrappers from Albany New York. Its a year when Denver cents almost tripled Philly cents. Is it possible that the mint would ship Denver coins to NY for wrapping ? This wasnt a bank wrap, its from a wrapping company. I did crack it open, the enders were dirty and weathered and the 48 others had brown edge rims, with beautiful lustered coins. I got a good price on it. Scratch that. I got a great price on it.

It seems rare that Philadelphia coins were sent West, but I've often seen Denver coins from East coast banks. I've even seen San Francisco coins in East coast banks. I don't know the official explanation, except perhaps there are (or were) a LOT more banks on the East coast and it may have been easier at times to get coins from Denver than Philadelphia.

[jallengomez]

I just picked up three rolls of 1993-D rolled in plastic shrink-wrap style rolls that I know were distributed from the Atlanta Fed branch to a local bank here in Georgia. The woman I picked them up from worked at the bank and put aside three of the rolls. Says she has more rolls of Cents stashed away. I'm hoping she finds them.