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Storage of U.S. Mint bags?



 
 
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  #1  
Old November 20th 04, 02:38 PM
J. A. M.
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Default Storage of U.S. Mint bags?

Don wrote:

Hello,
I have been collecting the State Quarters since the program started, getting
them from the mint in the U.S. Mint bags, removing them from there
box and stacking them in a safe and leaving them alone.
The other day my brother came over with some extra pennies for one of
my books and saw how I was storing my quarters and told me that I needed
to get them out of the bags and into quarter tubes for proper storage.
Is this correct, am I damaging the quarters by leaving them in the bags?
Not that resale value is my primary reason for collecting the quarters but
if I were to remove them from the bags and put them into tubes would they
then be the same as circulated coins and lose value for not being in the
Mint bags.
Thank you in advance for any advice on this.
Don.

__________________________________________________ _____________________________
Posted Via Uncensored-News.Com - Accounts Starting At $6.95 - http://www.uncensored-news.com
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Yes! Get them out of those bags. The coins that are in contact with the bag will acquire a hazy spotty toning. I've seen this happen to coins, in these bags, in just a couple of months.

JAM
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  #2  
Old November 20th 04, 05:06 PM
AnswerMan2
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Default

told me that I needed
to get them out of the bags and into quarter tubes for proper storage.
Is this correct, am I damaging the quarters by leaving them in the bags?

Your brother is giving you the correct advice. Mint bags rank at the bottom of
the list of storage media because they not only do not prevent contact with
pollutants in the air, but they also allow the coins to scrape against each
other every time the bag is moved. The packaging has no connection to the value
of the coin, which depends on the grade, not the packaging. When you open the
bag you will find at least some coins that are badly damaged enough to drop out
of the uncirculated class. You could also find very valuable minting varieties
or coins that would grade above MS-65 if properly conserved. Inert plastic
tubes are the best bulk storage media.
Alan Herbert
The AnswerMan

  #3  
Old November 21st 04, 09:22 AM
J. A. M.
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Default

Don wrote:

Thank you both for the help on this.
I will get them out of the bags,
What would be a good online company to
buy the quarter tubes from?
Thanks again,
Don.
"AnswerMan2" wrote in message
...
told me that I needed
to get them out of the bags and into quarter tubes for proper storage.
Is this correct, am I damaging the quarters by leaving them in the bags?

Your brother is giving you the correct advice. Mint bags rank at the

bottom of
the list of storage media because they not only do not prevent contact

with
pollutants in the air, but they also allow the coins to scrape against

each
other every time the bag is moved. The packaging has no connection to the

value
of the coin, which depends on the grade, not the packaging. When you open

the
bag you will find at least some coins that are badly damaged enough to

drop out
of the uncirculated class. You could also find very valuable minting

varieties
or coins that would grade above MS-65 if properly conserved. Inert plastic
tubes are the best bulk storage media.
Alan Herbert
The AnswerMan


__________________________________________________ _____________________________
Posted Via Uncensored-News.Com - Accounts Starting At $6.95 - http://www.uncensored-news.com
The Worlds Uncensored News Source


I like these guys

http://www.jakesmp.com/

JAM
  #4  
Old November 21st 04, 04:08 PM
J. A. M.
external usenet poster
 
Posts: n/a
Default

"J. A. M." wrote:

Don wrote:

Thank you both for the help on this.
I will get them out of the bags,
What would be a good online company to
buy the quarter tubes from?
Thanks again,
Don.
"AnswerMan2" wrote in message
...
told me that I needed
to get them out of the bags and into quarter tubes for proper storage.
Is this correct, am I damaging the quarters by leaving them in the bags?

Your brother is giving you the correct advice. Mint bags rank at the

bottom of
the list of storage media because they not only do not prevent contact

with
pollutants in the air, but they also allow the coins to scrape against

each
other every time the bag is moved. The packaging has no connection to the

value
of the coin, which depends on the grade, not the packaging. When you open

the
bag you will find at least some coins that are badly damaged enough to

drop out
of the uncirculated class. You could also find very valuable minting

varieties
or coins that would grade above MS-65 if properly conserved. Inert plastic
tubes are the best bulk storage media.
Alan Herbert
The AnswerMan


__________________________________________________ _____________________________
Posted Via Uncensored-News.Com - Accounts Starting At $6.95 - http://www.uncensored-news.com
The Worlds Uncensored News Source


I like these guys

http://www.jakesmp.com/

JAM


P.S.

I use the square ones

http://www.jakesmp.net/CSD_Coin_Tube...bes.001_C.html

JAM
  #5  
Old November 21st 04, 04:56 PM
Edward McGrath
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Posts: n/a
Default

Alan wrote: the packaging has no connection to the value of the coin.
snip Then why is the US Mint charging $49.95 for the 2004 Thomas Alva
Edison collectors set? the BU coin is only worth $35, could it be the
packaging?. Packaging has a definite influence on the value of a coin if
you ever decide to sell it. I totally disagree with you Alan. Ed

  #6  
Old November 21st 04, 07:33 PM
WinWinscenario
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Posts: n/a
Default

What would be a good online company to
buy the quarter tubes from?
Thanks again,
Don.


Many of the regulars in rcc have had a successful relationship with
http://www.brent-krueger.com/

Check for the best price.

Regards,
Tom
  #7  
Old November 21st 04, 07:36 PM
Andrew Auletta
external usenet poster
 
Posts: n/a
Default

On 21 Nov 2004 18:33:03 GMT, espam
(WinWinscenario) wrote:

What would be a good online company to
buy the quarter tubes from?
Thanks again,
Don.


Many of the regulars in rcc have had a successful relationship with
http://www.brent-krueger.com/

Check for the best price.

Regards,
Tom


Tom -- Thanks for the referral!

--Andrew
Shop With Us Online and Save:
Brent-Krueger Coin and Currency
www.brent-krueger.com/?source=rcc
Your Coin and Currency Supply Super Store!

Visit Our Dealer Showroom and Retail Outlet
186 Scotch Rd., Ewing NJ
  #8  
Old November 21st 04, 10:56 PM
Harv
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"Edward McGrath" wrote in message
...
Alan wrote: the packaging has no connection to the value of the coin.
snip Then why is the US Mint charging $49.95 for the 2004 Thomas Alva
Edison collectors set? the BU coin is only worth $35, could it be the
packaging?. Packaging has a definite influence on the value of a coin if
you ever decide to sell it. I totally disagree with you Alan. Ed


I totally agree with Ed ..

If you want an Edison coin to submit for slabbing, or stick in an album,
you'd be nuts to buy the $49.95 Collectors' Set and pull the coin out of it.
Just buy the coin by itself in the capsule without the additional fancy
light bulb packaging.. It's up to the individual to decide if the packaging
is worth a $15.00 Premium over just the coin without the packaging.. Yes,
it's a gimmick package, but it's an interesting one, and a unique one, so
far, in the history of the US Mint. I already had both Edison Dollars, but
decided that with only 25,000 of these Light Bulb sets made, it was worth it
to grab one while they were still at issue price. Earlier, I decided it was
NOT worth $120.00 to me to buy a Lewis and Clark dollar in a fancy package
with a little leather pouch included. Since those Pouch Sets are selling for
radically different prices, depending on which Indian made the pouch, or how
many beads it has on it, or other reasons I can't fathom, and it was a total
crap shoot as to which of the ten artisans' pouch would be in the Set(s) you
ordered from The Mint, and at the time they were on sale, there were no
aftermarket prices, and you couldn't choose, much less even KNOW which ones
would be worth more when they sold out.. well, draw your own conclusions.

Same goes for many other specially packaged Commemoratives, with a very low
mintage (of the packaging (although "mintage" is probably the wrong term to
use when referring to a packing option)).. if they have lthe typical
authorized limit of 500,000 Proofs and Uncs. total , and only 25,000 of them
come in this special package, which is the case with Edison's, then the
packaging most definitely has added value.

Maybe someday down the road, years after this thing sells out, someone with
just a plain encapsulated Edison Dollar will want one of these fancy
packages to put it in, and maybe someone else who bought the coin in the
fancy package for some reason took the coin out of it and had it slabbed, so
there would be a market for the fancy package without the coin in it - to
sell to people who have the coin in the capsule without the fancy package,
because the coin and the capsule are exactly the same, whichever way you buy
them, and the capsule is not cemented into the fancy packaging.. and if that
sentence makes any sense at all, I'd be amazed..

Take the scarce 1995 Civil War 2 and 3 coin Proof Sets that came in both
plain packaging, and in the very limited edition replica "Union Case." (For
which I have been trying for years to find out how many were sold in that
case, and absolutely no one knows..) .. I have seen people selling the Union
Case with no coins it. Or a 3 coin case with the Gold coin missing. If you
have the 2 or 3 coins bought back then in the regular non fancy packaging,
by putting them into the Union Case you would increase their value
dramatically.. BECAUSE that fancy little plastic box is worth a lot of money
to some people.

I have a 2004 Vatican Proof Set sitting here.. these are selling for about
$400.00 to $500.00 lately. How much do you suppose I could get for the eight
coins if I took them out of the fancy schmancy red velvet and white satin
case and threw the case away??.. Maybe that's not a valid analogy since it
was the only way that Set was sold.. Okay, let's take a US Mint 1999 Silver
Proof Set, now going for about $275.00, originally $29.95. Take two of those
sets and list them on eBay. Sell one the way it came. Take the other, bust
it apart, put the coins in flips or 2x2s and sell them as a 9 coin lot. See
if the packaging is worth anything. Of course it is. You'll get around
$275.00 for the packaged, intact set, and probably far less than half of
that for just the 9 raw coins..

On the other hand, if you want to remove a Buffalo Dollar from its Coin and
Currency Set, you literaly have to destroy the Set's cardboard holder to get
the encapsulated coin out, because of the way it's mounted in that cardboard
holder. However, the price on those sets has dropped so dramaically, that
they are selling for roughly the same price as the coin by itself, the
market having determined after a buying frenzy in 2001 when those sets sold
out in four days, that three years later, the set as become a "who cares"
item and the additional packaging has basically NO premium over just the raw
coin in a capsule by itself.. The 1995 Union Cased cased coins keep going
up. The Buffalo Dollar Coin and Currency set went way down. Explain that.

And to carry this to the ultimate extreme, what's a slab? A slab is fancy
packaging with a little label in it made by some company who pays some guy
to assign a grade to that coin, the grade being his opinion.. People have
decided that that guy's opinion makes the coin worth more.

Depending on which company's guy put it in a slab, it can be worth a tiny
bit over the raw coin, or one Helluva lot more. The market has determined
the same identical coin is worth more in Company X's slab than in Company
Y's slab, even if they are exactly the same grade.
The coin hasn't changed. It is what it is, in either slab.

Take a PCGS MS70 or PR70 ANYTHING and crack it out of its slab and watch it
sell for less than 10%, maybe less than 5% of what it'd sell for if it was
in that 70 slab. Nothing's happened to the coin itself. It is what it is.
It's a 70 without the slab, right??.. You will pay an extreme premium for
someone's opinion of it.

Even if you include the broken slab and say "this coin used to be in this 70
slab" no one is going to believe you because there's absolutely no way to
prove it. They'll believe PCGS when the coin is in their slab. They won't
believe you when you take it out of the slab..

So after barfing out this long diatribe, it just comes down to this.. IMO,
in many cases, fancy packaging DOES increase the value of a coin or set of
coins.. sometimes a little, sometimes dramatically, and that fact can't
simply be shrugged off as irrelevant..

Harv

--
"I'm hovering like a fly, waiting for the windshield on the freeway.."







  #9  
Old November 21st 04, 11:02 PM
Dale Hallmark
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"Harv" wrote in message
...

"Edward McGrath" wrote in message
...
Alan wrote: the packaging has no connection to the value of the coin.
snip Then why is the US Mint charging $49.95 for the 2004 Thomas Alva
Edison collectors set? the BU coin is only worth $35, could it be the
packaging?. Packaging has a definite influence on the value of a coin if
you ever decide to sell it. I totally disagree with you Alan. Ed


I totally agree with Ed ..
Harv



I agree with Harv :-)

Dale


  #10  
Old November 22nd 04, 05:41 PM
AnswerMan2
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Packaging has a definite influence on the value of a coin if
you ever decide to sell it.




So, you would say that a coin in a plastic flip is worth more - or less - than
the same coin in a 2x2 paper envelope? My answer covers 99 percent of packaging
and yours represents one percent.
Alan Herbert
 




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