5 Tons of Ikes Found

Heard this on the radio this morning, not sure if anybody posted it yet.

http://www.stltoday.com/news/nation...cle_f4af1bbb-df64-523b-a4d5-004b040bcc5f.html

 

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Littleton will probably sell them at silver dollar price tag...

 

Coin Update for 12/5 is also linking to the same story published on The Washington Post's web site.

I was bummed to hear it was Littleton who got hold of these coins. While anything they sell will be a firm grade, the prices will be sky high.

The article I read used the term 'silver dollar' loosely and without defining if all or just some of these are 40% Ikes. One of the photos of bags shows dates ranging from '71-'77 (most bags visible in the photo are Denver Mint bags), from what I could see. It could really put a dent in some of the rarer dates already on the market if bags worth of finds of the rarer Ikes come rolling out for collectors.

I'll bet the ikegroup.org guys are excited by these new coins given their hunt for identifying die varieties and having so many more out there to work with potentially. I know I'm excited by this story since I collect graded examples of the 40% Ikes.

 

"5 Tons of IKEs Found"

What is that like 4 bags?










I keed!

 

LOL! No doubt! :yes:

 

Bummed to see Littleton got their hands on these. They will undoubtedly make them up 200-400x their value and take advantage of non coin people trying to buy gifts for their coin collecting family members.
/sigh
Can't stand littleton.

 

This won't be the last hoard found.

 

How is this considered "found"? Was it lost? If a bank loses $220,000 in cash, I would think that's a problem and someone should lose their job.

 

Fishy in that most of the banks I deal with send anything "odd" worth more than a few hundred dollars back to the Fed. Now a bank just happens to "hold" $250,000 worth of Ike's for 30 years?

hmmmm.......

Just read Dougs post.........now it makes sense and YES Doug, he lost his rear storing those unless he owned the bank.

 

"Rare"...really? Guess I've been collecting the wrong rare coins all these years.
Guy

 

edited - here they are !!!

 

:thumb: I'm not fond of Littleton either.

 

I love Littleton's price estimates....they are unbelievable several hundred for a rare Ike. Is there a rare Ike even worth that much?

 

Really? I guess an MS70 or something, but I doubt their a bunch of 70s in those bags, but you never know. Maybe theres some varieties. I still don't like littleton (except for my state quarters map that is really nice)

 

Possibly. I mean, if you calculate interest and what not.

Depending upon date, sealed bags of IKEs can sell for anywhere between $1,750 to $$2,800 or more a bag.
1971-D might bring $2,200 but a 1972 Bag would bring close to $3,000.

But......as with anything, a mint sealed bag is only a guarantee of uncirculated coinsof the same date and uncirculated for these coins usually averages MS64.

I've gone through some bags and never came across an MS66 coins. Maybe 4% MS65's 50% MS64's and the rest MS60-MS63. A big winner would be any error coins which may have slipped through such as clips, missing clad layers, broadstruck, etc.

Buying them by the bag is an expensive treasure hunt but I expect that Littleton will hype the heck out of these and try selling them at $10 each. I wish them luck.

 

Absolutely!

 

Kinda like Morgan or Peace Dollars right?

 

MS67 is the grade to look for.