Expert: PAPAJACK - 8/28/2007

Question
QUESTION: I was given a sealed, never opened 5000 coin US Mint bag of 1973 Lincoln Pennies.  Does it have any value over the $50 I'd get by taking it to a bank to cash in?


ANSWER: Hello Jamison,          

There may or may not be anything too collectable in the bag making it worth face value or a bit more to a coin dealer.
Is there a seal on the bag? Is it a lead like metal with wire?

Collectors of Lincoln cents search through the bags in what’s called Cherry-Picking. They look for the best specimens, well struck, no blemishes and good eye appeal.
These cents sell to collectors from .05 to .25 cents each.  And there is always the chance you may find an error in the bag if it has not been searched already. Something like a blank coin will sell for a dollar and a one cent coin that has been has been clipped, multiple struck or another error can sell from 2 to 5 dollars.
It is unfortunate the bags usually contain un noteworthy common coins. You may want to sell it to a dealer as is for the face value or hold on to it for a time when the 1973 is worth a bit more.

I am listing the information for the cherry pickers guide for us coins. You only need to read the part on Lincoln Cents to figure out if it is worth your time to go through the bag looking for that one coin to make it worth it.  See if your library has one to borrow. It just lists examples of errors you can find on coins to help you identify a more valuable piece.

Cherrypickers' Guide  Volume I
Authors: Jt Stanton, B. Favaz
Published by Whittman
http://www.whitmanbooks.com/Default.aspx?Page=55&HTMLName=ReviewPubColumn_0506

Also available at http://coin-shop.com/cherry.html but it is easy to find elsewhere

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Thank You and Good Luck

PapaJack

---------- FOLLOW-UP ----------

QUESTION: there is the seal and it is the lead type metal with wire.  Does that make it any more valuable?

Answer
Hello again Jamison,          

This does not make it necessarily more or less valuable.
It just means it is still sealed from the mint and has not been searched or picked through already.

If the seal was broken or the bag was tied closed it could have been searched through before you got it or even have other things in it.

Thank You and Good Luck

PapaJack