Original Bank Rolls "OBW" Buying Guide rev1

[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?ssPageName=STRK:MEWAX:IT&_trksid=p3984.m1438.l2648#ht_918wt_917

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

[liveandievarieties]

That's a classic scam, all you'll find is common date circ wheats inside. Those rolls didn't even exist in 1909. Run, run fast and far from that listing.

[jhcons]

Thanks:
Glad I stuck to my guns and would not go over a certain price I set for myself. Well good now I can use my energy focusing on other things Like figuring out how to post pictures in threads that are all on one page. And again thanks.

[ray_parkhurst]

ray, I have been trying to win one of these auctions for the past few nights
...
After reading your post. That has more fuz all over the ends. What is your take on it.

Well, if I stated my opinion of these types of rolls I might be booted off the group for my bad language...

What I can say is these are not OBW rolls. There is no question. These are "fantasy rolls" made up for folks hoping for treasure. That said, I won't recommend against buying them, as they might be full of BU 1909VDBs for all I know. Just be aware that these are not OBW and thus can't be trusted to contain what they appear to contain...

[GrumpyEd]

There are seven of those rolls all with tails/tails and VDBs on both ends and no other rolls.
It's amazing how many fantasy rolls are always listed, always they have a rare coin or silver dime or something on the end, I've even seen some with a gold dollar on one end barely held in place by one edge of the paper.

People like bidding on "grab bags" so this stuff will always be selling even though everything points to them being set up.

[jhcons]

I read probably 10 pages of his feedback or the other person that is selling them also and for the most part feedback was ok but he had on average 2 negative feedbacks per page of 50 I think. Those saying they were crap. The other 98 % said they were great. No million dollar coins but were nice. Glad I shied away. Think I tried it three nights in a row but would not go over $35.00.

[ray_parkhurst]

I don't know if it is this seller or another one but I know a person who has purchased several of these. They got them for wildly different prices. I think one sold for $70, and the other for $700. Well, guess what? The $700 roll had a Gold Dollar in it, plus a couple other interesting coins. The $70 had a few nice Indian Cents. What I think is the seller (I am not accusing the seller linked to in this post, as I don't think it was the same one my associate purchased from) builds the roll up based on the final selling price, and tries to give some decent value in the roll so that the buyers don't come after him for fraud. It's not a bad way of doing business, especially for the treasure hunting crowd, but I guarantee you won't make any money off that sort of scam. The seller probably always puts in 50% or whatever of actual value based on final selling price of the auction. This is just a supposition on my part based on a couple of actual lots I know about, and I may be wrong, but it seems to fit...

[Garrettsdaddy]

Awesome guide for beginners, well written and easy to understand. Thank you.

[pelidaniel]

Great guide and easy to follow, thanks for the info, I never looked at any of detail you mention on your post, maybe that's why I never got anything good before.

[Randyman]

Great advice I have just learned a ton,Thank you

[JC Stevens]

Anyone have a link to OBW prices?

In a large Cent collection I just picked up with there are over 200 rolls in Nickel Tube Boxes marked OBW. The rolls are in nickel tubes. Three of the rolls are neat but I don't think there OBW's. One is a 1944-D 25 PENNIES roll and 2 1959's (1 P & 1 D) that look sweet. The 59's are stamped "RK STIMPLER" Collection Boston, Mass and each has a ID number ie 040058 & 044077.