Original Bank Rolls "OBW" Buying Guide rev1

[SDP73]

Do these qualify as OBW from a "contents of the roll" perspective? Tape is so old it crumbles and the tubes are so old that I can feel ribs on the outside of each roll where the plastic has tightened in on the coins.

I opened one roll, but to do so I had to freeze it over night and then chip the tube off of the coins. Once opened they were PRISTINE though. How long ago do you think they were rolled up?

Steve

[ray_parkhurst]

I love those old double-ended tubes. They were popular in the early 60's. I'm not sure how long ago they were discontinued, but I don't think you've been able to buy them for at least 20 years. Very likely these were rolled by a collector directly from a bank bag before 1964.

[SDP73]

The coins in the roll I opened are immaculate. They were obviously stored properly all this time. I still haven't searched them. Should be interesting to see what I find in that roll.

[ray_parkhurst]

I've found similar immaculate coins inside old "Meghrig" brand tubes. They are a lot like the double-ended tubes as they also shrink over time and seal the coins inside. I think this is why they are still immaculate, since no one has been able to remove them for many years, likely since they were originally rolled. They're pretty easy to open, though I've socked away most of the ones I've come across for future cherrypicking...Ray

[WaterSport]

One other tid bit I use - IF the roll has a bank name, do an internet search. Some times you can 1) verify its a real bank that existed at one time, See what if any merger occurred and thus would "date" your rolls . In other words, if the bank went out of business in 1964 and your holding 1970 rolls, you have to wonder.

WS

[liveandievarieties]

To answer your inquiry Steve- No, those wouldn't be considered Original BANKwrapped Rolls- Original, no doubt, but OBW refers to rolls sealed by a bank wrapping machine in paper or shrinkwrap. I'd not hesitate to buy those rolls, but I know I couldn't sell them described as OBWs.

[jhcons]

That was some real usefull info!! Makes alot of sense but never would have thought it. Thanks JIM

[ray_parkhurst]

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!

That's one thing you can use to determine if a roll is original once you've opened it. If it was truly machine-wrapped, there should be approximately 50/50 heads and tails in the roll. I've had a few rolls that had as imbalanced as 60/40 (20/30) that I knew were original, but I'd say beyond this and it's a re-wrap.

Now, here's another thing to look for once you've opened the roll. The coins should be randomly rotated. Even if you have 50/50 heads/tails, if the coins are all lined up in rotation, it's a rewrap.

Finally, I've never seen more than 3 coins in a row of heads/tails in an original roll. I suppose it could happen, so if you get a roll that has 4 or 5 heads in a row it might be original, but odds are against it. If the 4 or 5 coins are all rotated similar direction, you have a rewrap.

These are things you can use to determine after the fact if a roll is original. They are NOT sufficient, because unscrupulous folks also know these things and might rewrap with the coins all jumbled and mixed to avoid suspicion. But if they are not jumbled and mixed, you know what you have...

[ray_parkhurst]

One other tid bit I use - IF the roll has a bank name, do an internet search. Some times you can 1) verify its a real bank that existed at one time, See what if any merger occurred and thus would "date" your rolls . In other words, if the bank went out of business in 1964 and your holding 1970 rolls, you have to wonder.

WS

Note that the bank name has to be exact as well. If you are holding a roll of 1943-S OBW cents, which seem to be more common today than they were a few years ago (bad sign), and it says "Mellon National Bank of New York City" but your search shows that the only similarly-named bank which was in business in 1943 was named "Mellon National Bank of New York" it is not a match. It has to be PERFECT because banks NEVER make a mistake when it comes to their name.

[jhcons]

ray, I have been trying to win one of these auctions for the past few nights

http://www.ebay.com/itm/121094814629...8#ht_918wt_917

After reading your post. That has more fuz all over the ends. What is your take on it.