Coin wrapper

A coin wrapper, sometimes known as a bank roll or roll, is a paper or plastic container for a number of coins. In the 19th century, coins were distributed in large cloth bags and coins were hand wrapped. Since the onset of the 20th century, coin wrapping machines have been in use. The earliest patent for a coin wrapping machine was in 1901. By 1910, automatic coin counting machines which could reject counterfeit coins, wrap coins, and crimp the coin wrapper ends were in use.

History

In the 19th century coins were collected in cloth bags after they were struck at the mint. Initially coin wrapping was done by hand. In 1913 the Federal Reserve bank was created. After the creation of the Federal Reserve, bags of coins were sent to the individual reserve banks. Each branch then put the coins into paper wrappers with tightly sealed ends. These rolls were called (OBW) "Original Bank-Wrapped Rolls". When other banks wrapped the coins they would print their bank name on the wrapper.

Coin wrapping machines

On 22, June 1901 James Rice applied for a patent (number 720070) for what he called a "Coin Bunching Machine". The patent was issued on 10 February 1903. Rice described his invention by stating that it was a "efficient manner means for bunching together any preferred number of coins of a selected denomination and holding them in position whereby they may be very conveniently and expeditiously wrapped or covered with a paper jacket."

On 9, November 1907 Erskine W Jennings applied for a patent on a machine he called "Coin Wrapper" which could crimp the ends of the coin rolls. On 3 August 1909 he was granted patent number 930,291. The machine was still not fully automatic.

Automatic coin wrapping machines

By October of 1908 the first fully automatic coin wrapping machine was created and a patented was applied for. The Automatic Coin-Wrapping Machine Company applied for a patent on the machine and it was granted October of 1910:Patent number number #973335. The applicant of record was Charles S. Batdorf; a man who applied for many coin related machine patents as early as his 1890 (Coin Operated Apparatus). In 1908 he was granted patent number 358,670 for a "Spurious Coin Detector". A machine which he said could, "Provide a means whereby bogus, spurious or counterfeit coins will be rejected by the machine automatically even though they be of the same size as the genuine coins of the value for which the machine is designed to operate."

By 1911 banks in the United States were using coin rolling machines. Some banks began to use standardized paper colors based on denomination. The machines were capable of culling counterfeit and damaged coins.

Modern coin wrapping

In the United States, empty rolls are available free at most banks in every denomination (though it is becoming increasingly difficult for half dollar and dollar to be readily made available).
The rolls come flat and one side will have to be folded to allow for coins to be placed inside. When the roll is full, the top side will need to be folded. Typically, the full rolls are brought back to the banks in exchange for currency or to be deposited. The Royal Canadian Mint uses check weighers to verify the number of coins per roll.

In the Eurozone, empty plastic rolls are used at banks in every denomination, with five-coin staggered rows. The five-coin rows and transparency make quick verification of contents possible, with a high degree of certainty. This results in less time spent processing coins, while the solidity and two-way closure system increase the number of times the coin roll can be used, effectively reducing its overall cost.

In Japan, machine-wrapped, plastic coin rolls are circulated almost exclusively, as handmade coin rolls are rare. Each roll holds 50 coins. Customers can change bills into coin rolls easily using automatic money changers at Japanese banks.

In the United Kingdom, coin rolls are not used. Instead, small plastic bags are provided free of charge at banks which are filled by the customer with the appropriate number of the same value coin as printed on the bag, with these bags also provided by banks when withdrawing amounts of money in coins. When depositing or changing, the bags are weighed at the bank to check they contain the right number.

Searching coin rolls

Often, coin collectors will ask for full rolls from the bank to search the contents in hopes of finding an interesting or valuable coin. Some collectors also save coins of bullion value, such as copper pennies and silver half-dollars. This practice is called coin roll hunting. It is also known as cherry picking. Full rolls are also requested by vendors to make change. Some coin roll hunters look for Mint-made errors such as double die coins. The error coins often have a high numismatic value to coin collectors.

Fraud

Bank rolls are vulnerable to a variety of scams, such as rolling slugs of no value or coins of a lesser value. In 2018 a scammer in Canada hid washers in coin rolls which were supposed to contain two dollar coins.

Amount in a roll in various countries

Afghanistan

Currency: Afghan afghani

Albania

Currency: Albanian lek

Argentina

Currency: Argentine peso

Australia

Currency: Australian dollar

Australian coins used to have different ink colors, but now they all have black ink.

Austria

Currency: Austrian schilling

Bahamas

Currency: Bahamian dollar

The Bahamas has two different kinds of rolls with the same number of coins. One kind is distinguished by color, while the other is adorned with a light blue background with the Flag of the Bahamas. The rolls here are the ones distinguished by color.

Bahrain

Currency: Bahraini dinar

Belgium

Currency: Belgian franc

Bulgaria

Currency: Bulgarian lev

Canada

Currency: Canadian dollar

Canadian coin rolls are very similar to American coin rolls, with the exception being that rolls for the half dollar do not exist while rolls for the toonie do.

China, People's Republic

Currency: Renminbi

Comoros

Currency: Comorian franc

Cyprus

Currency: Cypriot pound

Denmark

Currency: Danish krone

Ecuador

Currency: Ecuadorian sucre

Egypt

Currency: Egyptian pound

Eurozone

Currency: Euro

Ireland

Unlike the rest of the eurozone, Ireland uses clear, reusable plastic bags for all denominations.

Spain

Three of the rolls used in Spain are different from the ones used in the rest of the eurozone.

Italy

Until 2009, two of the rolls used in Italy were different from the ones used in the rest of the eurozone.

Federal Republic of Germany

Currency: German (Deutsche) Mark

Fiji

Currency: Fijian dollar

Finland

Currency: Finnish mark

France

Currency: French franc

Greece

Currency: Greek drachma

Honduras

Currency: Honduran lempira

Hungary

Currency: Hungarian forint

Iceland

Currency: Icelandic króna

Indonesia

Currency: Indonesian rupiah

Israel

Currency: Israeli new shekel

Italy

Currency: Italian lira

Japan

Currency: Japanese yen

Japanese coin rolls are made of plastic and are not color-differentiated. Each roll holds 50 coins. Older coin rolls were made out of paper.

Lebanon

Currency: Lebanese pound

Lithuania

Currency: Lithuanian litas

Malawi

Currency: Malawian kwacha

Mexico

Currency: Mexican peso

Moldova

Currency: Moldovan leu

Morocco

Currency: Moroccan dirham

Netherlands

Currency: Dutch guilder

New Zealand

Currency: New Zealand dollar

Norway

Currency: Norwegian krone

Oman

Currency: Omani rial

Panama

Currency: Panamanian balboa

Papua New Guinea

Currency: Papua New Guinean kina

Peru

Currency: Peruvian sol

Philippines

Currency: Philippine peso

Portugal

Currency: Portuguese escudo

Romania

Currency: Romanian leu

San Marino

Currency: Sammarinese lira

Saudi Arabia

Currency: Saudi riyal

Serbia

Currency: Serbian dinar

Seychelles

Currency: Seychellois rupee

Singapore

Currency: Singaporean dollar

South Korea

Currency: South Korean won

Soviet Union

Currency: Soviet rouble

Sweden

Currency: Swedish krona

Switzerland

Currency: Swiss franc

Taiwan

Currency: New Taiwan dollar

Thailand

Currency: Thai baht

Trinidad and Tobago

Currency: Trinidad and Tobago dollar

Turkmenistan

Currency: Turkmen manat

Uganda

Currency: Ugandan shilling

Ukraine

Currency: Ukrainian hryvnia

United Arab Emirates

Currency: United Arab Emirates dirham

United Kingdom

Currency: Sterling

The UK generally uses clear, reusable plastic bags in which a given quantity of coins is weighed. As the UK has traditionally relied on weight when counting coins, a conscious effort was made to ensure that the weight of 1p, 2p, 5p & 10p coins remained constant following the changes to their composition (from copper to copper-plated steel in 1992 for the 1p & 2p, and the 2008 change from copper-nickel to nickel-clad steel for the 5p & 10p coins). Relative densities of the respective metals meant that the thickness of the later coins was increased to maintain the coin's weight, thereby making coin rolls impractical; the differences in thicknesses are more notable in the 5p & 10p coins.

The proportional dimensions of pre-decimal coins continued past Decimal Day, meaning that the 2p and 10p coins weighed twice the 1p and 5p respectively; this correlation was continued when the 5p (1990) and 10p (1992) coins were reduced in size, leading to the situation that full bags of 1p and 2p coins, and 5p and 10p coins, have the same weight, and whilst banks discourage mixed coinage, it is possible to mix these denominations.

United States

Currency: United States dollar


Each denomination has a different amount found in a roll and are color-coded by denomination. See below:

In the United States, it is also common for coin dealers and online bullion shops to produce their own rolls of pre-1965 silver coinage for the purpose of selling them to customers; these rolls may be the same size and face value as those produced by banks, or may exist in half, full and double sizes.

Venezuela

Currency: Venezuelan bolívar

Vietnam

Currency: Vietnamese đồng

Yemen

Currency: Yemeni rial

See also

* Automatic coin wrapper
* Coin roll hunting, the practice of searching coin rolls for unusual, rare or valuable coins
* Coin rolling scams
* Currency packaging
* Euro starter kits

References

External links

Video - Hand rolling coinsVideo - Coin Counting, Sorting, and Wrapping machine

{{Commons category, Bank rolls

Banking
Numismatics