Do high grade Ike dollars have long term potential?

I think you may see an increase in the amount of Ike collectors. The series is a great gateway into coin collecting. For the business strikes, an MS-64 set is easy to put together. The same set in MS-65 is more challenging, but still readily available with the exception of 1 or 2 coins. Now once you get to MS-66, things can get expensive and harder to find. Grades above MS-66 in the clad business strike are few and far between, and can be very expensive. Of course, I am referring to PCGS grades. In the Ike series the belief is still held that NGC coins are over graded (and this may present a good opportunity to buy coins in NGC plastic to cross over to PCGS at a bargin price if you know what to look for).
Personally I started with a raw ike album, then a Dansco, then I started a basic PCGS registry set. My basic set grew to a complete set, which grew to include other nonPCGS attributed varieties. I sold off my first registry set and I'm working on my second set.
I think the series may gain traction with newer collectors, or maybe for seasoned collectors that are looking for a side project while hunting for the few expensive and hard to find Morgans they are missing from their collection.
If you're looking for a series to dive in to, I'd suggest Ikes. They could be trending soon with all of the new info coming out. The Red Book has recognized the FEV, the Ike Group is reworking their variety catelog, there is a new book coming out from IkeDollarDoubleDie.com, and the next CPG will have several new Ike Varieties.
Anyways, just wanted to provide my biased opinion.

 

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Interesting thread. I don't think the Ike dollar is particularly attractive. I am putting together a collection of the Silver coins. I have one more to go. A 1974 Silver Proof MS69 DCAM. All my proofs are 69 DCAM. The 71-S is MS66 and the other dates are all MS-67.

I admit I'm speculating on this particular series in silver. I'm softening to the design, but I still wouldn't say it's attractive, yet...lol.

I'm always surprised when people say the Morgan design is ugly or not attractive. I find it to be a beautiful coin. But to each his own. I'm not going to try and persuade anyone to change their opinion. I'm just going to continue to find high grade examples in the series to add to my collection.

 

Aesthetically speaking, hands down, the Peace Dollar is the most beautiful in my eyes.

 

I would say Draped Bust myself, but to each his own.

 

Ya know? Contemporary feelings about the Morgan Dollar were, initially, that it was ugly and the eagle itself was scrawny in appearance. My how opinions of the coin have changed over the years........

 

This is very true. I personally believe it's one of the most beautiful coins ever produced. But, that certainly wasn't the belief in the 1880s.

 

Not mine. I think they had it right initially.

Its been over 40 year already. Does anyone really consider an Ike to be an attractively engraved coin, especially the obverse? Please do not tell me, "how attractive can you make the man?". There are tons of unattractive men who have been artistically rendered to be an attractive coin. Washington and Lincoln were not attractive men, but their coins contain a lot more artistry making them much more attractive coins.

 

I don't think anyone is going to say the obverse of the Ike Dollar is beautiful. I agree with what you say about Washington and Lincoln...not attractive men but artfully portrayed.

The reverse is nice...but it was basically a copy of the Apollo 11 mission patch (which was actually a drawn copy of an Eagle done by astronaut Michael Collins using a National Geographic magazine as a source).

I think the allure of the Ike Dollar is about something other than beauty. Either you appreciate that or you don't. I don't think you do...and that's OK. I personally love the Morgan Dollar...again, you don't and that's fine.

I think what makes this series special is something other than raw beauty. First off, it is the last of our large dollars and it is the only clad dollar. Due to the medium being Clad...it was littered with problems from the start. This is one of the reasons the coin is so "ugly" because the relief had to be so poor. The series also has a ton of newly discovered varieties. It is also unique in that it was really the first series that had silver and clad collector issued coins (with the 40% silver BU and proof and the clad proofs).

Overall, I think it is a neat set because the coins are so large and there are so many different features within it. I don't believe for a second it will ever reach the allure or value of the Morgan or Peace Dollars. However, I do think that the high grade coins will continue to appreciate in value as time goes along. IMHO, this is the only modern (and to me that means exclusively made in the "clad era") set that has long term potential.

 

I selectively quoted, but the whole of your post I think was very spot on. I agree the Ike design is ugly, there's no real denying it.

I really think the popularity of this series will hinge on all the research going on now with the varieties. This small series of only 8 years has so many different varieties and such a history of the troubles getting it struck and out the door that it becomes intriguing to follow once you actually start looking into it.

This series may not appeal to the masses due to it's obvious design shortcomings. However, I'm not sure that it's a bad thing, nor am I sure that lesser following in this case is bad for the ability to appreciate in value. One may consider this series like the "DeLorean" of coins - ugly, out of place, but with a fervent following. Last I checked those were still well valued as well....

 

I have no issues with what either of you have said. I collect even more esoteric, even uglier coins. Please don't think I am one of those "I only buy pretty things" kind of collector. As a specialty, I do agree Ikes can be interesting. My only comments have been directed at what makes a mass appeal coin like the Morgan. I agree the Ike has the size, but do not think some other traits are there to make it a "mass appeal" coin in the near future.

Just my opinion.

 

I completely agree with you.

However, I am a big car guy and I want to have a small car collection of 3 cars. One of them...is a DeLorean. So, are my opinions really that valid? LOL.

 

I like the coin because its ugly... and has Ike on it.

 

I think you misunderstood me; or rather, did not fully understand me. All coins are minted in finite numbers. All coins are going to have certain mint marks, years, strikes, etc, of varying quantity. To say that the high grade ones are rare and going up higher in value is just about the silliest, statement of the obvious I have read in the short amount of time I have been on this site. Even if one were to pretend that the production issues were unique to just Ike's, they are still, the least collected, lowest valued, garbage. They are garbage.

 

I think what you fail to understand from my statement is that high grade Ike's are somewhat unique in their rarity. It's true...all coins are worth something in high grade. What makes Ike Dollars special is that high grade examples are VERY hard to come by...which is something very unique amongst modern coins. There is nothing silly about that at all.

You can think they are garbage all you want...that's fine. I have seen the sales prices that support what I am saying.

 

To refer to them as 'garbage' insults everyone here who collects them.

 

A quick look at auction results show many MS-67 coins in PCGS holders bringing $4000-$600o. Really cool garbage if you ask me.

 

Indeed, I'd be tripping over backwards to find and own garbage like that...

 

A struck up nicely Ike in high condition would be most worthy indeed. Mind that I don't collect the series as closely as some. Variety's make me dizzy. Suffice to say that I've got the holes in the album filled and am quite happy at that.

And on an historical note, Ike was one heck of a General Officer.......

 

I received the coin today and I'm very happy with it as it looks very nice in hand, and best of all I've gained a lot of insight on Ike's from all of your great posts. I have a new appreciation for the series and this probably won't be the last one I will buy. Thanks again everyone for sharing so much knowledge!



I did notice that it has what looks like some milk spotting, some of which is visible in the photo at about 3:00 on the reverse. Is this normal for Ike's in this grade? Perhaps it was dipped?

 

I kind of feel that same way as you with varieties. I have been thinking about making a "custom" Ike Dansco...get an Ike Dansco and swap out the pages with some blank dollar size pages and add a few key "varieties" I think are missing and try and complete a decent raw set. I think it would be a lot of fun.