Uncirculated coins in roll from banks?

Discussion in 'Coin Roll Hunting' started by Wandering Man, Sep 20, 2019.

  1. Wandering Man

    Wandering Man Member

    I was wondering if you can ethically grade a coin as "Uncirculated" when you got the coin out of a roll of coins a bank teller gave you.

    Isn't it at best an Almost Uncirculated by virtue of coming from the bank?

    I'm using Numista's grading, btw, not the 70 point system used by most graders.
     
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  3. Dave M

    Dave M Francophiliac

    You've got the wrong definition of "uncirculated." Define the term to represent the physical state of the coin, its wear, damage etc. Whether it actually came direct from the mint, passed through your local 7-11, etc, has no bearing on the grade.
     
  4. lordmarcovan

    lordmarcovan Eclectic & odd Moderator

    "Uncirculated" is something of a misnomer. It merely means a coin with no wear. Plenty of Uncirculated coins technically did circulate- they just didn't do so long enough to receive any wear.

    This confusion is likely the main reason that the term "Mint State" has mostly superceded the older "Uncirculated" term with its inherent contradictions, but tradition keeps the older term around.
     
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  5. Michael K

    Michael K Well-Known Member

    Very often you can get mint state coins out of rolls. They may have one or 2 nicks
    but they can be brand new with full luster and be in the MS 65 range.
    Yes it's true this coin has circulated very lightly. But in terms of a grade,
    it still qualifies as uncirculated if it doesn't show any circulation wear.
    One serious issue are the coin counting and coin rolling machines used by Loomis and others in the industry. Close inspection with a loupe will find most of these naked eye looking MS coins, to be damaged. So you have to be selective.
     
  6. Wandering Man

    Wandering Man Member

    Thank you. This helps.
     
  7. Cheech9712

    Cheech9712 Every thing is a guess

    Technically yes. If you bought bags of coins from the mint. That would be un. But if you find a perfect coin in a box of coins. Even if they were to all the same in loomis wrappers. Technically not un. But that in the common sense of the WORD uncircullated. This would be true. Case scenario. With the new W quarters. If i obtained a complete box of Guam quarters that were put into circulation and found some of the 2 million made and maybe not ever touched or even looked at. These coins would be circulated. But!!!! They will be pawned off as uncircullated. But technically. There not.
     
  8. Cheech9712

    Cheech9712 Every thing is a guess

    Mint state removes all the confusion
     
  9. Collecting Nut

    Collecting Nut Borderline Hoarder

    A coin is graded by wear, not how it came into your possession.
     
    Cheech9712 likes this.
  10. Cheech9712

    Cheech9712 Every thing is a guess

    Good job Mike
     
  11. Pop70

    Pop70 Active Member

    That answerers a long time question of mine thank you ever so much, truly appreciated.
     
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