Are Loomis Penny Rolls from bank Uncirculated?

Hi,

I just went to a bank and asked for new coins. The teller told me they have 11 rolls of pennies. I took a look at the end coins and most of them looks uncirculated. 10 rolls are 2017 (mostly D). 1 roll is 2014 D. The 2014 D on one end shows some wear. A few 2017 D roll end coin also show some wear/ fingerprint. Here are the photos. Are these likely uncirculated inside?

 

Log in or Sign up to hide this ad.

Remember... "uncirculated" doesn't necessarily mean that the coins haven't technically "circulated"... it just describes the amount of wear that they do/don't have.

So, yeah, I think most of them would probably grade "unc".

 

It depends. If they rolled new cents then yes they probably are. If the mixed cents from circulation will new ones, then no. A few of the coins could be old and not showing.

 

Why do you want these zinc atrocities?

 

It is hard to say for sure. You could weigh them. If they are all uncirculated new cents they will weigh in at about 125 grams. If they are mixed/circulated and have old copper cents mixed in the weight would be noticeably higher.

With that said, I have found rolls of seemingly new cents that had a few circulated coins mixed in. That could be what you're dealing with with the 2014D roll. I would open that one and find out myself. It all depends on what's in the hopper at the rolling company.

 

Loomis is one of the contracted coin terminals. The receive ton bags of coins from the mint on behalf of the Fed, count, wrap, and place them in circulation.

They also receive bulk coins from customers such as banks and arcades and other businesses. Those are counted, wrapped and placed back into circulation.

So you can get both....

 

With the exception of the last photo the end coins are damaged by the roll crimping machine, and the last one is covered with plating bubbles.

 

I got a few rolls of quarters a while ago looking for a nice Fort Moultrie.
Most of them had great luster and I thought it would be easy to find a nice example to save. When I looked through my eye loupe, almost every single one had damage.
Usually the vest but other areas as well. The coins had just been put into circulation.
Bag marks cold not have gouged these coins so badly, and I assume it is from the coin rolling machines at Loomis.

 

In my experience, the only way to tell that you have a full roll of a certain date (minus opening a brand new box of coins) is to open that roll.

 

I'm new collecting rolls. Do coin rolls have higher value if they still have the original packaging (Loomis in this case)? Do putting them in plastic coin tubes keep the same value also?

 

If you keep it in the original roll, and there's a new coin on each end, you have no idea if the other 48 are old or new. Someone suggested weighing the roll and at 2.5g each, if it weighs 125g and has brand new coins on each end, it is likely the whole roll is new, but probably just has 50 zinc cents in there of different dates.
If you were to get an entire box and most of them (48 of 50 lets say) had brand new enders, it is likely they are all new. But the time to do that is when they are released. Around my parts that could be February (for the 2018's).
My other post was not a joke. Why do you want these? They don't have any value above face to me. And I doubt they will ever have any value, they make billions of these things and the metal content is cheap.

 

Why would they be worth more when I can go to any bank which is supplied by Loomis and purchase comparable coins for face value, just as you did?

 

New cent pieces are worth one cent each unless they have an error and it's really hard to find an error. Most collectors do not collect brand new circulation coins. Welcome to the forum.

 

I see 1980s UNC coin roll sold for $4 per roll. I bought 5 rolls in a coin show for around $16. I'm hoping these rolls will double or more the value in the next 20-40 years. I also have sold 2 2017 UNC penny rolls for 60 cents a roll to some collector friends I know.

 

I want these uncirculated ones for collection. I will pay 55 cents for 50 uncirculated cents that are before 2010. Maybe 50 years from now, they will double the value.

 

Actually, the fun is I got these by myself at face value at a bank. I personally think it is fun to collect stuff at a bank (instead from coin dealer/ shops/ eBay). I have some nice Morgan MS67 but I never got them at face value in a bank.

 

If they double in value in 50 years you are losing money. Since with inflation they will be worth 5-10 cents in today's money then, at $1 a roll.
It's inexpensive. Whatever makes you happy, if that's what you like to collect, I say go for it.

 

If you buy a CD with the money, at 2% it'll nearly triple... no maybe. And you won't need to pay 110% to buy your investment either.

 

I am not trying to make money in these. It is just fun for me. I spend less than $10 per month in banks buying rolls. I know you guys will say it is a waste of time. I make 200k+ per year and it does not justify the time I spent doing this (e.g making 10 cents a roll); however, for me, it is just the fun.

 

Thank you all for your input