lets say i go to the bank and get new rolls of 2008 lincolns. are they considered uncirculated? i know it sounds like a dumb question but just humor me. and who rolls them? the mint? if so what does that packaging look like? do they ship them out in bags too? i know banks roll their own stuff but do they roll stuff fresh from the mint? if so does that make whatever they're rolling uncirculated? ok that's more than one question but ive never bothered to collect rolls of anything so im kinda out of the know when it comes to roll collecting.
Smokemonkey: Hopefully this may help: Coins may be rolled by the mint, but--only if you buy them at a premium direct from the mint. Normally, the rolled coins are wrapped by an outside vendor, usually an armored car/truck company. The bags that come out today are mega-bags and require a company to roll them. The rolls are then purchased by the bank for distribution. continued: Yup, they are uncirculated, and you may get some very nice ones.
Basically all that Treashunt said. Yeah, they are considered unc. Unc refers to a coin that has no wear on it. MS-60 basically. The mint to my knowledge doesn't roll them, a company outside of the mint does. Could be wrong, but that's what I've read. Hope this helps smoke! :thumb: Phoenix
The US Mint does not roll coin. Coin is bagged at the mint in 2000 lbs bags and shipped to fed reserve banks. Coin is rolled after this point. The banks that we do business with must order coin from reserve banks in order to replentish their needs. The banks pay a premium on coin when they order it. There is not a fair exchange between these banks like we get when we swap rolled coin for bills or vise versa. If you get a roll of new coin, what ever the denomination, from your bank, it is absolutely uncirculated coin. It is as uncirculated just if it came from the the people who roll coin for the mint to sell to you at a premium.
The mint does sell some coins in roll form: halves, quarters, nickels, and Sacs. You do pay a premium for them, though.
well im not paying a premium for a roll of uncirculated coins. my bank said they might have some 2008 lincolns in on monday and im gonna see about getting some rolls just for collecting them. ive never collected rolls before so i decided to ask some questions. not that it really matters to me but i would assume that mint rolled coins would command a higher price than rolls at your local bank for example even though they have the same contents.
They sell them, but they do not roll them in house. As Phoenix21 said, the rolling is contracted to an outside vendor. So the coins you buy in rolls through the mint have been bagged, banged around and roughly handled the same as the ones that end up at banks. That's why they have bag marks. The only ones not handled this way are the ones that go into the uncirculated mint sets and they are much more free of marks.
but the ones that go into mint sets are still pressed and chucked into a bin of some sort with all the other coins coming off the machines, correct?
maybe they use oompa loompas wearing cotton gloves and they use an "olde tyme" press to make each one and handle it with the utmost care and carry it from the machine to a resting area on a massive pillow where they are later run under a microscope and... or maybe they just just pull them by the handful out of the bins and chuck em into mint sets. wouldnt surprise me if they did.
