Sealed Bank Bags of 1960 Penny's

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jack1927
Posts: 1
Joined: Mon Dec 14, 2020 4:58 pm

Sealed Bank Bags of 1960 Penny's

Post by jack1927 » Wed Dec 16, 2020 1:12 pm

I inherited 4 $60.00 Bank Bags of 1960 Canadian Penny’s. I am completely ignorant and wanted to ask for some advice.
All bags were ordered from the bank and purchased for a coin mural my dad was making for his art shows in the ’60s and these were never circulated or used. 3 Bags are still sealed with the string and lead seal, one is opened and rolled. I have not opened the bags that are sealed as I don’t know if in doing so, I lose proof of them being uncirculated. As a lay-person do not see any varieties of substantive value online. The opened and rolled bags are all very bright and red. My assumption is the sealed bags are most likely as well as the bags were stored in containers in a climate-controlled environment.
Here are my questions if you can help:
1) Is there value to documenting the bag being sealed or is being “Uncirculated” determined simply by the condition? I think it would be fun to search the bags for die errors and varieties but want to maintain the integrity of the collection if it is warranted.
3) Other than any potential MS gradable coins, are there any other varieties you suggest looking into other than Hanging 0’s?
4) It obviously is not worth grading coins that are most likely not greater in value than the grading fee. I personally would NOT be able to distinguish between an MS-60 and an MS-66. What would you recommend doing in order to get a collector’s opinion on the coins value? I would love to liquidate them and am happy for a dealer/collector to make a profit, I just would hate to be ripped off due to ignorance.

Thanks, for your time and reading, and thanks in advance for any advice.
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SPP-Ottawa
Posts: 9
Joined: Sun Jul 21, 2013 11:55 am

Re: Sealed Bank Bags of 1960 Penny's

Post by SPP-Ottawa » Wed Dec 16, 2020 10:09 pm

The appeal of the sealed bags is the prospect of error coins (at least that is why I buy them and go through them). Depending on how often the bags were moved around, you would be very lucky to find anything above MS-64 in those bags, hence the term "bag marks" or a coin being "baggy". The best grades from those years are from bank rolls of that time period, where the bags were not moved around much.

The rolls would have some value to a collector of BU coins, but the lead sealed bags would carry more value. There are not many varieties for 1960, other than minor clashes and machine doubled dates that collectors routinely look for. If you are looking to sell those, you might get the best bang for your buck at an auction company (e.g., Colonial Acres Auctions usually does well with these type of lots).I suppose it depends what part of the country you are in - shipping those bags intact is not cheap.

momomomo
Posts: 141
Joined: Sun Dec 20, 2009 4:59 pm

Re: Sealed Bank Bags of 1960 Penny's

Post by momomomo » Fri Dec 18, 2020 2:42 pm

Hello! :D

If I was in possession of one of them, it stay sealed.
You might get couple MS-66 and MS-65, but most of them will be certified MS-62 to MS-64.

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