tell you guys a good story...

one day back in the late 90's i was at a friend's coin shop and a customer walks in with 3 original rolls of 1886-O dollars and my eyes just went :bigeyes: but none of these coins were in high grade, most of them were slabed PCGS MS61s and a few MS62s.

 

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Original? Like most rolls that aren't sealed, they've been cherry picked. I don't know if there are sealed rolls of Morgans. Back in the 60's & 70's I only saw plastic tubed rolls.

 

Old school paper rolls? that's pretty incredible for a variety of reasons...

 

i bought few rolls of common date dollars back in the early 80's that were still in their original paper bank wrap. only the two end coins were toned.

 

yes,but sadly most of these 86-Os were heavily bag marked. like i said...only a few graded MS62.

 

When were they wrapped? It's my understanding that Morgans spent the majority of their life in bags

 

They must have been the oddest looking wrappers ever to hold 20 PCGS slabs in each. Just kidding!

Chris

 

They did. In storage vaults, in 1000-coin bags. Released in 1962-1964.

 

We still see BU rolls from time to time. The coolest roll I saw was a BU roll of 1881 CC's. It was in a tube when I saw it but I bet they came out of the same bag. I am assuming that because there were only 4 die pairs used to strike all the coins in the roll. That stuff still exist...

 

Wow, now this thread has been extra fun to read. I just love an old roll, but a bag is really exciting. My father was a safe mover (seriously), and he moved a lot of bank vault doors too. He would often make it home with empty canvas bags (to help line the hinges during transport, etc).

Anyways, I use to wonder about the coins that use to be stored, or could have been stored in those nice thick canvas bags. I still get excited over old bank bags, and have a very small collection of them started. Not so easy to come by since ATM's became common.

 

My friends' dad claims to have a $1000 FV bag of Morgans tucked away as a part of his retirement savings. I don't know if I believe him or not though.

 

It's possible. When the Mint released stored Morgans in 1962, and people realized it, they were buying them by the bag. Some were searching the bags for rareties, errors, etc., and selling them to dealers and collectors. At that time one could go to the Mint in Philadelphia and buy them by the bag full at face value.

 

I know, but the dude isn't that old, he's about 55... and a notorious BS'er... he did collect when he was younger though, and has always been pretty well off...

 

And, cherry picking higher grades. Most that went into roll sales were lower grade.

 

The major silver dollar rush was in 1963-64 so he may have been a little young but it would be possible. And his father may have gotten them and pasted them down.

It's hard to imagine what it was like during that period. The Treasury stockpiles were literally being drawn down by tens of millions of silver dollars each month (That's tens of thousands of bags being handed out each month.) I would think that a lot of those bags are still in hiding out there.

 

Okay he's 55 today, that puts him at 7 years old when the Mint released stored Morgans by the bag in 1962. Like I said, you could go to the Mint window and purchase 1000-coin bags at face value from 62 - 64.

 

Exactly right.

 

haven't you seen Morgan $s that were toned end coins from an original roll?

 

A 7 year old with $1k in 1962? That's over $7k today. I'd think his parents must have bought it for him if he really has it... I'll ask him about it some more tonight.

 

Yes, but they were in unsealed paper rolls, rolled by someone who cherry picked a bag. I've never seen a sealed roll that was rolled by a bank or.....