Need a coin collector

C

crsides

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I have this bag of pennies I bought from a picker (I trust) years ago. He had 9 sealed bank bags of wheat pennies, of which I bought one. 5000 pennies. I put them in the shop and forgot about them. I was looking for a c clip that popped off into the wild blue yonders with a large magnet and the magnet stuck to the penny bag. First I thought, that's strange, then thought about the 1943 steel pennies.

Disappointed at first, then thought how much are steel pennies going for? I have avoided opening the bag since it was supposed to be sealed by the bank, but I really want to look in there. Can someone in the know tell me if this really is a bank sealed bag, and if so, should I leave it intact.

thanks
Charlie

 
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I know what I should do, but 5000 look sees. Maybe when I am quarantined.

And you brought up a question I needed to ask ... is that a real bank seal ?
 
Don't know about the seal.

When I was a kid back in the 1960's, I helped my Great Aunt in her general store right after her second husband died. He was a coin collector. She paid me a dollar. Knowing that I was a young coin collector, instead of giving me a bill she gave me 2 rolls of pennies from the safe.

When I got home I found both rolls filled with uncirculated '43 steel pennies. That got me started collecting them. At the time they were still available in circulation. I still have the 2 rolls, and maybe 1000 more.

Today, rough ones will go for 10 cents or so. Nice ones up to maybe 50 cents. Uncirculated a couple of bucks. S mints more.

Unopened the bag is worthless. Opened up you never know what you might find.

If you find a 1943 copper penny, or a steel 1944, lock them up in your gun safe and increase your homeowner's insurance....
 
Charlie, I worked part time at a pawn shop that dealt in coins. I ran across several sealed bag like this.

The old timer there told me that banks would seal their bags in this manner to deter pilferage. Banks used a hand press to seal the bags. Many of the presses would also stamp the name of the bank on the seal.

I don't know positively if this is true. But it makes sense.

Hopefully there are a few 1909 SVDB pennies in there. Or maybe a 1922 Plain.
 
I believe there are some pennies that are VERY valuable.
 
Fact is, if you're moving the bag around, you're not doing any of the coins in there any good, possibly harming them and lower their grades...I don't see any advantage in keeping the bag sealed, need to go thru them. Lincoln cent resource is a good site for you to see:D
 
Ok now I HAVE to know what's in that bag!

Post pictures ASAP.
 
There are some pennies that have value, and like collectible guns original condition is everything. I wouldn't hesitate to cut the seal and see what you have. A word of warning - cleaning a coin absolutely destroys it's value.

As far as '43 steel pennies, they aren't worth too much. There are a few known errors though where a '43 penny was stamped on a prior year's copper blank, producing a '43 copper penny. If I recall there's something like 3 known and verified as genuine. I think they're valued at over a million bucks - you could google it.

The keys and most valuable are the 1909s VDB, the 1909s, the 1914d, the 1922 plain (actually a d but the die was damaged so no mint mark is visible), the 1931s and the 1955/55 double die. Most from the early/mid teens with a mint mark carry a premium as well. Happy hunting.
 
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If they're steel, and have been in that bag for how many years now? Rust happens.The bag is not sealed from the US Mint I don't think, so I'd guess the contents are circulated to some degree. I'd be opening the bag if it were mine. You'll need some collectible-penny ejikatin'.
 
Kanewpadle said:
Charlie, I worked part time at a pawn shop that dealt in coins. I ran across several sealed bag like this.

The old timer there told me that banks would seal their bags in this manner to deter pilferage. Banks used a hand press to seal the bags. Many of the presses would also stamp the name of the bank on the seal.

I don't know positively if this is true. But it makes sense.

Hopefully there are a few 1909 SVDB pennies in there. Or maybe a 1922 Plain.
Click to expand...


Not just banks. I worked at a bank in 1974. One of my jobs was rolling coins. We would get in canvas bags full of coinage from the coke bottling plant, and the Pepsi plant. From various arcade games and from people that had bubble gum machines. The bags would all be sealed by having a heavy string wrapped around it and then a lead seal crimped on the string. This prevented the employees from pilfering.
 
Charlie,

Just the way I see it.

I question why the bank would pay an employee(s) to sort through
assorted coins in order to separate the wheats exclusive from the
rest of the bulk, we're talking about 45000 wheats alone, the way you worded it.

I would open it up as there doesn't appear any provenance or validity
of the sealed sack other than the the story your picker sold you.

Send us a picture.

terry
 
45000 ??? typo ?
Story is they were bagged prior to the change over in 1957.

Its a very heavy bag. Is gold attracted to a magnet?
 
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