I stumbled upon this today: http://www.ebay.com/itm/50-ROLLS-Un...15?pt=Coins_US_Individual&hash=item3cae9da743 It's 100 sealed rolls, supposedly sealed from a long time ago. The rolls all have wheat pennies on both ends. With all the sealed/unsearched roll auctions out there, this one *seems* to be the most legit and even though the auction title says 50 rolls, the body says 100 in a few different places. (Of course I'd ask him to verify this before buying anything) At this rate, it would be $3.95/roll. Is that a good price? Do any of you all know this seller? I know this isn't the same as searching rolls looking for the occasional wheat penny, which is what roll hunting is all about, but I figured this would be the best place to post this question. Thanks!
Those auctions for "unsearched rolls" with a potentially valuable coin showing on one or both ends are made for suckers.
I guess they're relying on people assuming that all of the rolls are at least pre 1960, and as such, none of the coins would be post 1960. When I read the auction more carefully, these could be normal rolls that were assembled any time. Sure, it's statistically impossible for wheat pennies to be on both ends of every roll unless someone did it intentionally, but they're not saying someone didn't do that. All he's saying is that after cracking open a dozen rolls, he found some old pennies. He didn't say how many 2011's he found. Nor is he guaranteeing his results are what you can expect on your rolls. The bad thing is, this auction *could* be legit, but there's so many scammers selling coin rolls with wheat/indian head pennies on each end, you just don't know... In a way, I was hoping someone would chime in that they bought some from him and they were 100% older than 1960. But if that was the case, they'd be sold out, or they wouldn't be selling them like this... File it under "too good to be true".
Yeah, they're searched. How could they know for a fact they are all wheats if they didn't search them? Unless they personally got them from the bank in 1958 and haven't touched them since
Most, if not all "unsearched rolls" are rip offs. Any normal person will crack open a roll and sell the coins individually or in groups. They are just wanting suckers. I've even seen unsearched rolls with 3 cent nickels on each end. Not gonna happen.
These people simply bag up wheats and send them to wrapping facilities to get them wrapped. If you can get $1,000 in cents together, and are willing to pay the fees, they'll wrap 'em for ya.
Maybe it's because I'm a noob to the whole coin/bullion thing, but someone please explain to me how a guy can go to the bank, exchange 10 dollars for a 10 dollar roll of half dollars, then post the roll on eBay as an "UNSEARCHED ROLL!" for 15 dollars plus shipping. And someone buys it. I have seriously seen people selling bunches of these rolls with "16 sold" next to the "buy it now" button. I feel like I'm missing something here, because what it seems like to me is that these people are paying 17+ dollars for the privilege of getting a 10 dollar roll of coins with the remote possibility that there will be one or two silver coins inside to make up the difference. That is amazing. The only good silver deal I've found on eBay were some Canadian coins that went for under spot, even after shipping. The rest of it seems to be either overpriced or stuff like this.
Cut the confusion out, and start hunting yourself. YOU need to go the bank, and plunk down 10 big ones, and get yourself a roll. Also, a huge red flag on that ebay auction was all of the "!" Exclamation points in the title. If a seller has to resort those techniques, then be wary. If it's too good to be true, it is. There is a sucker born every minute. Try not to be a sucker.
