Question about Penny rolls/wrappers

[lara4228]

I've been reading a lot lately, especially on the Trading Post about rolls of coins being sold or described in "String" or "Pittsburg Branch of Federal Reserve Bank of Cleveland" (Chris's ad) and other names have been thrown around.

OBW means what? Original Bank Wrapped? Which generally means that these coins are 'uncirculated' right?

I know here in Canada our banks use plastic shrink wrap on our OBW's

I've got here a 59-P "Brandt" roll. That means what? And why the different usage of wrappers?

[Maineman750]

You pretty much have it lara, different brands of wrappers is the only answer you're missing,that's all.

[lara4228]

So in the US your paper wrappers have their manufacturing names on them?

[Maineman750]

So in the US your paper wrappers have their manufacturing names on them?

Some do, yes. We also have generic stuff but I believe the brand names were more common back in the day.

[coop]

On the older rolls they had who wrapped them on it. Usually banks and credit unions. But most of the time they were all BU coins. The ones of today can be a mixture of both BU and AU. They can actually be part plastic rolls of BU with just one or two circulated example mixed in. I always open the box and check a few rolls before selling them.

[foundinrolls]

I mentioned this in another thread.

Currently (Since 1998) Coins in machine wrapped rolls can be anything. new, old or a mixture of both. The coins are wrapped by private companies in the order in which they are received.

Some coins are delivered to counting companies, loose in huge bags by the Federal Reserve and some circulated coins are returned as overstock by banks and credit unions.

They are all wrapped together after they run through a counting machine. So even a box that might have a majority of one date in all the rolls can have other dates of coins mixed in.

Prior to 1998, coins were delivered to banks , in smaller denomination bags. Cents for example were in $50 bags of 5000 coins.
The banks or a company contracted by them would wrap the coins. Still, the coins could be mixed although the rolls were more likely to be filled with one date if they were wrapped toward the early part of the year and were not yet contaminated with circulated coins.

I hope this helps,

Bill

[coppercoins]

Bill - cents were in $50 bags through 2001. I cannot be certain of the other denominations, but I know for a fact that the mint delivered $50 bags in 2001.

[jfines69]

I believe the mint still sells $50 bags of cents on their web site???

Added... Just looked at the web site and currently they are selling $100 bags of qurters!!!

[Maineman750]

I believe the mint still sells $50 bags of cents on their web site???

I've seen quarters, but not cents. Do you have a link as I've heard somebody say this before (maybe you ?).

[jfines69]

I've seen quarters, but not cents. Do you have a link as I've heard somebody say this before (maybe you ?).

I added a line to my post... Just the quarters is what I found!!!

[lara4228]

Wow, the Canadian Mint wraps their own in plastic wraps and then ships them to our banks in sealed boxes.

I remember when I was running my variety store and I used to go the bank for a box of pennies, how disappointed I would be because I saw the seal from the Mint on my box. I would immediately request another one.

It is fascinating how different 2 countries that are relatively similar in culture, social ways, and politics, yet their Mints operate so differently.

[Maineman750]

Wow, the Canadian Mint wraps their own in plastic wraps and then ships them to our banks in sealed boxes.

I remember when I was running my variety store and I used to go the bank for a box of pennies, how disappointed I would be because I saw the seal from the Mint on my box. I would immediately request another one.

It is fascinating how different 2 countries that are relatively similar in culture, social ways, and politics, yet their Mints operate so differently.

Lara, you have to keep in mind that our government officials are experts at inefficiency and spending.

[lara4228]

Roger, Roger Roger! Why didn't I see such a comment coming from you like that when I wrote my post?

[tone541]

$50 mint sewn bags

I've seen quarters, but not cents. Do you have a link as I've heard somebody say this before (maybe you ?).

sorry guys , the mint does not sell $50bags of cents.
tony

[jfines69]

sorry guys , the mint does not sell $50bags of cents.
tony

At the end of last year there were some 2010 bags for sale on the mints web site... Guess they sold them all or dropped them!!!