Bags and rolls. Chain of events post punching.

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indian4
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Bags and rolls. Chain of events post punching.

Post by indian4 » Sun Aug 23, 2020 3:33 pm

To all you folks with more information than myself. That is pretty much all of you. I understand that when coins left the mint it was in bags. At what point might they have been put into rolls? I'm assuming it would have been at banks or probably payroll offices. In the early days many people were still being payed in cash and not with checks. Does this make sense to you or am I full of beans?
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RogerB
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Re: Bags and rolls. Chain of events post punching.

Post by RogerB » Sun Aug 23, 2020 4:05 pm

Silver dollars were packaged by the mints in bags of $1,000. (For a short period in the 1880s, $500 bags were used.)
Sorting into $20 (sometimes $10) rolls was done by banks. After the large scale distribution in the early 1960s, buyers of bags did the rolling when local banks refused to accept opened bags.

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indian4
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Re: Bags and rolls. Chain of events post punching.

Post by indian4 » Sun Aug 23, 2020 11:28 pm

Thanks Roger that helps.
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RogerB
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Re: Bags and rolls. Chain of events post punching.

Post by RogerB » Mon Aug 24, 2020 2:51 pm

It's useful to remember that in the early 1960s most bankers, except those in 'silver states', considered silver dollars an expensive nuisance. They had to pay for transportation, counting and then had the things sitting around. Many small banks refused to accept return of them, or would order them for customers (like me) only with the understanding that they would be returned to a competitor's bank.

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indian4
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Re: Bags and rolls. Chain of events post punching.

Post by indian4 » Mon Aug 24, 2020 4:27 pm

Now that's funny. :lol:
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CascadeChris
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Re: Bags and rolls. Chain of events post punching.

Post by CascadeChris » Mon Aug 24, 2020 7:53 pm

Paper coin rolls weren't starting to be used until the 1920s/30s and weren't being unbuquitously used until around the treasury releases of the 50s/60s when dealers would buy treasury bags and use paper rolls to break them up and sell them in 20 coin lots.
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RogerB
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Re: Bags and rolls. Chain of events post punching.

Post by RogerB » Mon Aug 24, 2020 8:32 pm

Businesses routinely used paper wrappers from the 1890s forward. Many banks required the merchant's name on each roll so the deposit amount could be verified. In turn, merchants received their daily working coin in bank rolls. At small community banks the tellers counted and rolled coins in between customers. (If the customers were standing very close together, the tellers rolled individual dimes between them instead of rolls....)

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indian4
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Re: Bags and rolls. Chain of events post punching.

Post by indian4 » Mon Aug 24, 2020 9:55 pm

You have a lot of knowlege. Almost like you were there.
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RogerB
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Re: Bags and rolls. Chain of events post punching.

Post by RogerB » Tue Aug 25, 2020 1:53 pm

indian4 wrote:
Mon Aug 24, 2020 9:55 pm
You have a lot of knowlege. Almost like you were there.
My family was involved with several small, community banks - beginning way before the Great Depression.

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HawkeEye
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Re: Bags and rolls. Chain of events post punching.

Post by HawkeEye » Tue Aug 25, 2020 4:35 pm

And then there are the modern "forged" rolls where sellers make wrappers look old to make the coins more sellable. Often I have seen these with a "CC" on one end coin and who knows what on the inside.
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indian4
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Re: Bags and rolls. Chain of events post punching.

Post by indian4 » Wed Aug 26, 2020 6:45 pm

Yeah, you have to be careful there are so many people running scams
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indian4
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Re: Bags and rolls. Chain of events post punching.

Post by indian4 » Wed Aug 26, 2020 9:24 pm

Roger, or anybody, would you expect a die break to start on the edge of a coin or start some where else on a coin and move to the edge in a progression of stages?
I hate this fracking coin...for now

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indian4
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Re: Bags and rolls. Chain of events post punching.

Post by indian4 » Fri Aug 28, 2020 3:50 am

Or am I even thinking about it the right way?
I hate this fracking coin...for now

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