Eisenhower 1972-P Type 2

For the past few months I have been considering breaking down and buying a 1972-P Eisenhower Type 2 dollar. I have seen a few raw coins go by here and there and a few more PCGS MS62 & MS63. The rest of my Ike collection is raw, but nearly all would grade BU and mid-range PR. At this point, I am trying to decide how much to spend.

I know it's all relative to me and how much I want to spend, but how much is too much for a Type 2 Ike? What would be considered a "good" price for both a raw BU coin and a PCGS MS63 coin? I am buying this for my collection that I intend to keep until I die and not interested in reselling it to make a profit.

Any input would be appreciated. Thanks in advance!

 

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Interesting question with a lot of variable answers.

I think anything south of $150 would be a good price for an MS63 just be sure to avoid any bidding wars.

Raw coins can be readily found and can produce some surprising grades however, this approach usually costs you money in both purchase, grading, and shipping fee's.

My advice would simply be to "start shopping around" and paying attention. I'm sure you could slip into an MS63 for around $120.

Here's a PCGS MS63 that hammered at $100
http://www.teletrade.com/coins/lot.asp?auction=2814&lot=2387&imagetype=j

Add the $8.00 buyers fee, $7.00 shipping and any applicable sales taxes, and you looking at about $123 for an 8% sales tax state.

 

do you know what they look like? if you have the time and computer screen resolution, you can get a raw one off of eBay. Sometimes the sellers know they have it and sometimes they do not. The ones that know, sometimes severly undergrade the coin and call a MS63-64 an AU - AUs in the $40-60 range, BU $60+ CHBU $100+ GEM BU $300+ for what you want, for your raw collection I would suggest that route

 

I've seen Teletrade auctions where a MS63 goes for $120 or so and a MS64 goes for around $220. The best deal is the MS64, because in MS65 the price goes to over 2 grand!

ALL 1972 Ike T2 coins are relatively rare compared to the series. So IMHO the MS64 is a great deal. You still get overall rarity similar to the MS65. The MS65 is a condition rarity that I just don't think is worth it.

 

I've been shopping around for one also. The ones on ebay are going for alot of money. Look at teletrade or heritage. A nice ms-63 I have seen have been around in the 120-150 range. I was planning on a 63, but when I saw that 64's are in the 200- 225 range I thought more bang for the buck. I haven't found one and if I do I will let you know.

 

Is this a coin worth getting in just about any grade or should you go with MS only? I saw an AU example recently but did not buy it. TC

 

You would be happier that you saved up a few extra dollars and bought the MS coin vs the AU coin. The money saved just isn't worth it. A nice MS62-63 coin will not break the bank. This is not a common coin, so you just have to be patient for one to come up. They are out there, you just got to look.

 

Surprisingly, with a little looking, even at coin shops, you could end up with a nice coin for just a couple of bucks.

I can remember going to a coin shop and looking at an IKE dollar collection in a Dansco. When I eyeballed the Type 2 in the 1972 slot, I thought sure everybody heard me gasp!

The proprietor was asking around $225 for the entire collection but I offered to buy just a couple of coins. I got an nice MS64 Type 2 for $2.50. I did feel kinda bad but folks really should know what they are selling and with IKE's, it's really an open playing court.

The series has been dissed and ignored for so long that the truely unique coins which cause collectors of other series to scream "Yowza", are just totally ignored!

Who knows, perhaps the series is destined for the 2 cent or 3 cent series scrap heap where only high grade MS examples get any kind of a deserving nod?

What I do know, is that since it HAS been ignored for so many years, there are many, many unique and curious discoveries to be made within the series!

The 1972 Type 2 coin was only the beginning. Although the use of a Proof Reverse Die was not unknown, since it occured with frequency on the Washington Quarters, the Type 2 did give the Eisenhower series the popularity injection it needed. However, shortly after that, folks seem to forget to check and the series went dormant again.



In December 1999, another unique coin was "discovered". (Imagine that, a discovery 28 years after the fact!) The 1971-D RDV-006. Another totally different reverse die design and absolutely nobody knew about it! Why? Because folks just weren't looking!



The RDV-006 (Reverse Die Variety) is more than likely the result of the US Mint's failed attempt at producing a Copper Nickel Proof for the 1971 Proof Sets.

Evidence proves that the San Fransisco mint shipped substandard planchet's and die's to the Denver Facility. How else could you explain the 1969-D through 1972-D Type B Washington quarters? (A Type B Washington is the reverse design for the Proof Washington.)



Since this obviously DID occur AND the RDV-006 IKE is so distinctly different from its RDV-001 counterpart, (Just like the RDV-002 is from the RDV-001) the only logical conclusion is that the RDV-006 was intended to be the Copper Nickel Proof design. But, since the project was scrapped, the planchets AND the die's were shipped to Denver for the circulation production of the coin.



The Authoritative Reference on Eisenhower Dollars Appendices speak of Prototype strikes for the Eisenhower Dollar. None had ever been seen since all were supposedly destroyed. In February 2008 the First example of one of these Prototype's was found. Not "discovered" but "found". This was a 1971-S 40% Silver clad coin which had gone "unnoticed". The obverse design was different and the reverse design was different and all after only 37 years of existence? Imagine that!



Trust me folks, there are many more "New" variations of the Eisenhower Dollars that are yet to be found with just a little bit of patience and a lot of looking.



The Type 2 is merely the starting point. Next comes Doubled Die Obverses:



Doubled Die Reverses:



Then Peg Legs:



Then Reverse Design Varieties:



Then repunched Mintmarks:



Then Mintmark Styles (1974):



And last but not least, counterfeits (Yes this coin has counterfeits):





It's all there for the looking and for the taking.

 

What a fantastic write up 19Lyds!

Very informative and educational.

 

Great Write Up Lee:thumb:

In all the years I have been collecting I have not had so much fun as I have
with the Eisenhower Series. With all the different die varieties and trying to find the 71's and 72's in high grades in the wild.

Stewart

 

1976-S Silver PCGS MS66 FPL

Sorry all, I put this in the wrong thread... Meant to put this in the Post an Ike thread. Check there if interested.

 

Post moved to another thread.

 

Just to give you an update. I bid on a 1972 NGC MS64 Type 2 on Teletrade over the weekend. I lost to a bid of $180. With buyers fee this puts the coin just over $200. THe PCGS examples were only $20 more according to there past auction history. Go for the 64. Be patient and you can get one for about $225.

 

Would you advise NGC or PCGS for this coin? Thanks, TC

 

I've only been into Ikes for about nine months. I have noticed that PCGS coins get a premium. Sometime it is large premium. I have been buying NGC slabs. The main reason is I can get some very nice coins that equal those in PCGS slabs for a lot less money. I am also trying to do a NGC regestry set and like the NGC slab. You will have a greater selection on PCGS slabbed coins. If it doesn't matter to you, buy the coin that you like. You'll know the coin you want when you see it. Heritage a very nice 1978 D in a old green PCGS slab up for auction and I love the coin. Problem is that its looking like others have the same taste that I do and it is going to go for more than what I want to pay, but we will see. You'll find good coins and bad coins in both holders. If you are keeping the coin get the one you like and if it is in a NGC slab and its cheaper its a bonus. If you are planning on selling the coin later on maybe look at PCGS, like it or not they seem to bring more money for some reason.

 

Totally depends on what you want. Personally, I prefer PCGS since they do tend to have a higher marketable value.

 

Tater, I agree with you for the most part. However, keep in mind that the edge of a coin -- particularly these large coins like Ikes -- play a huge role in grading and are typically not visible in NGC holders. One Ike collector to another -- be cognizant of this when choosing coins for your collection...Mike

p.s. I had to learn the hard way after cracking out a few NGC Ikes only to find significant and grade-limiting hits on the rims.

 

Do you like the view of the new NGC holders? Since they have gone to the new holder I have seen many people suggest they have been more conservative on grades, have you seen this?

 

What do you all think??? Can I get a bump?

 

I've not seen enough to form a strong opinion, sorry. I'd ask/PM Lloyd -- he'll be in tune with NGC, methinks...Mike