I will do my best to explain. As you have read above, colors were used to quickly identify wrapped denominations. The wrappers produced for these banks came from a variety of sources.
Brandt, Chicago Coin, Stattley and others, made these paper wrappers. They printed them with whatever the banks wanted on them. Another clue to a fake wrapped roll, the Bank? There is one thing that banks don? Do some research about the bank rolls you are buying. A quick Google I love Google search of a roll I recently saw listed on eBay found that the bank had gone out of business almost 10 years before the date on the coins inside the roll.
While I am talking about auctions, did you know that you can buy old bank coin wrapping machines cheaply at those auctions too? As a matter of fact you can even buy them on eBay as well.
So armed with old bank wrappers and a bank machine you too can wrap coins. The colors of the Denominations was an industry standard! That means that if you were a bank and you wrapped coins then you used those colors. If you see coins wrapped in other colored paper or window wrapped paper.. Sorry but it is true.
While some red cent wrappers can fade over the years to a lighter red or even brown, the color inside should still be red if they were bank wrapped. Same rule of fading applies to all the other colors as well. How manny wrapped rolls can you find on eBay that actually have bank names on them? Not many. The other big tipoff to a roll that is not original is the era of wrapper that is around it. Sometime in the early to mid ? These lines were simply nothing more than decoration. They were made by a company called N.
String and Sons. The wrapping services like Brinks started using these to be able to tell the difference between bank wrapped rolls and their rolls.
Do you seriously think that banks just decided to wait to wrap rolls for 10 years? Lets talk about the chemicals in the paper for a bit. Did you know that almost all paper has sulphur in it. This one chemical is any silver or copper coin nightmare. It will tone and darken the surface if left in contact for any extended length of time.
Why is this important? I am sure you have already figured it out. If you see paper wrapped rolls of coins on eBay with end coins that are as bright and beautiful as the day they were minted you should be ashamed for even thinking about buying them. If they have truly been in the same paper tube for that long they will be toned. Well we have covered the history of wrapping, the machines and the wrappers. So you now know that a true original BANK wrapped roll must meet several criteria for being a true original roll.
It must have a bank name on it. Even if the wrapper was made by a different company, they paid to have their name stamped on their wrappers. Let me repeat, if it has a name like Brandt or N. F Sring and sons or Stately, these are all just the companies that made the wrappers. They are not banks. True bank wrapped rolls will be very tightly wrapped. So tight that it will be very difficult to reveal the edges of the coins on the ends.
If you see someone in a picture squeezing a roll of coins and it is showing the EDGES of the coins then I can guarantee you the roll is re-wrapped. Any true original older bank wrapped roll of coins will have coins on the ends that are toned to some degree. A true Bank wrapped roll of coins will be color correct with the paper. Banks were not in the business of making mistakes. They wanted everything to be correct and perfect every day. That was the reason for the different color wrappers.
If you see ANY roll of coins in any other color other than those listed above then you can assume it is re-wrapped. Know your seller.
Do you know where they get their rolls from? Are they constantly listing batches of dates that just seem impossible to get in Bank wrapping? Feel free to ask for pictures of this giant vault of bank wrapped rolls that they are pulling from every few weeks. I guarantee they will have a hard time producing such a picture. Re-wrapped rolls are nothing new. Bait rolls are another issue completely. A bait roll is one where the seller stuffs a roll with a better date or shiny coin on the ends to get you to buy or bid on them for way more than they have invested.
What is inside the roll between the two end coins is usually all complete trash. What a SCAM! I think its funny as heck to see sellers list shotgun rolls of coins because they think the brown or red striped wrapper is what makes them a shotgun roll.
Google it if you need to. The coins should be randomly rotated. Our experts have been helping you master your money for over four decades.
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Think local. They managed to collect a lot of coins, too. The bank reached its coin limit within one week. Not every bank is as generous, though. If they have a machine, loose coins are usually preferred. Many banks will give you coin wrappers for free, but you can also find cheap packs in various sizes at the dollar store.
If you have young children who are trying to learn math virtually, use the coin wrappers as a real classroom. Once they are rolled neatly into the coin wrappers, take them to your bank and exchange them at a teller. The gas station and convenience store operator has been handling coin exchange duties for customers during the pandemic at more than locations across 11 states.
In some cases, customers have dropped off their piggy banks and QuikTrip employees have taken care of the counting duties. They are often located near the lottery kiosk or just past the checkout register. The process is simple: Pour your loose coins into the machine, and receive a voucher to trade with a cashier in store.
The Federal Reserve always sends out "mixed" circulated or used coinage first. The point here is that even if you found a bank willing to cooperate and order new coins for you, they might not get them! The result is that the bank fills out a Special Request form, possibly paying additional fees, and then didn't understand what you wanted anyway, resulting in unhappy customers.
If it is an odd denomination, like a half dollar, the bank may be stuck with them for several months or years since very few customers asked for them. The banks' solution to this problem, typically, is to avoid doing any special ordering for coins at all.
Finally, banks in smaller markets may not be ordering directly from the Federal Reserve Bank. The Fed may contract with a large regional bank to do their coin and paper money distribution into smaller markets. Since the bank is acting as a middleman, this increases the cost of handling the rolled coins. The large regional bank also collects a fee from the ordering bank for handling these special requests. Now that you understand the reasons why banks are reluctant to order and provide rolled coins , you can learn to work with them to get what you need.
Whether you are looking for mint-state rolls of Sacagawea Dollars or circulated pennies so you can sort out the copper from the zinc , the first step is to define your goal. If your goal is to get mint-state coins, your best bet is a smaller, full-service bank that doesn't usually deal with a lot of merchant accounts. Such banks are typically positioned as higher-end "enterprise banks," and don't have the free types of checking and savings accounts.
But if you're a hard-core coin searcher or like to lay up a lot of mint-state rolls, a bank of this sort will be the type most likely to order and get "new" coins.
They will most probably pass the fees along to you, too, and having an account at the bank will be mandatory.
If your goal is to buy rolls of circulated coins, your best bank type is the big name, broad appeal banks where average small business people do their banking.
These banks typically deal in substantial amounts of circulated coinage, as some types of businesses take in more coins than they need, and will deposit them. Other business types use vast amounts of mixed coinage to give to their customers in change. Banks that do a steady merchant business almost always have plenty of circulated coinage on hand, and will often sell it to non-account holders. If you want to get this type of coinage regularly, especially in large quantities such as boxes of rolls, it's a good idea to open an account with the bank that is supplying you with your coins.
Regardless of the type of bank you go to, you may encounter tellers that are difficult, stubborn, or obtuse. Some of them merely need some genuine hand-holding, but others seem to be contrary just because they can.
When you encounter difficult tellers, take a moment to explain things. Be empathetic to their current situation. You don't know what type of day they are having.
Tell them that they can order the coins directly from the Fed on your behalf. If they claim they can't do that, then asked to get the head teller or supervisor. Always be courteous but firm. If banks claim they "don't carry" the Presidential Dollars, for example, let them know that all they need to do is order them.
Go up the management chain if you have to. If they keep insisting they won't order them, ask if there's another branch of the bank that will.
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