1971S Blue Ike

Bought for $8.00 along with the blue envelope, COA and of course sealed with the Blue Ike Token. I received coin and started to check it out and immediately found the following "flaws" or what I would question. I have been told that even though the coin is marked UC from the mint, that it does go through a series of conveyor belts, handling, packaging etc before its cello. My question is, the flaw that significant? I also purchased a 1972S Blue Ike with envelope and there is 100% improvement in that one. No significant nothing. i mean its UC to me.

I emailed the seller and I asked why is there so much "damage", "flaw" underneath the cello even though the cell isnt damaged itself? I asked if the cello had been tampered with. If it was advertised UC, its looks circulated to me with small dings etc on the obv. His reply after considerable negotiation was take it out of wrapper, keep token, envelope and ship it back my cost. I said no, you pay shipping and refund 100%. we are still at impasse. i said i will purchase it for melt and refund the difference, he still said no.

His last words were, I thought you wanted it for bullion. I said if I wanted it for bullion, i wouldnt be buying UC Blue Ike.

 

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i had a blue ike still in the packaging that looked like surface scratches but was actualy the wrapper. i would try moving the coin in the package to see if it was the same as mine.

 

Will, tried that already and its the coin. just has too much flaws to be considered UC to me. just hard to tell those things when you buy online, but more difficult trying to convince the other party that what your seeing is factual without the hassle. He refunded the purchase price, but i refuse to ship back my cost. wont even meet me halfway, so i got coin, plus my funds.

 

I do know that Ikes come with all kinds of dings and marks, from the mint, just like yours shows. Although yours is pretty extreme for a mint packaged Ike.
I have one with the similar marks near the world on the reverse, so it does happen:

 

awesome, trade? lol

 

Wow, umm yeah..Yours has some pretty dramatic marks and hits. I wouldn't be happy either, if I were you.
Although..I am trying to understand what you paid. Are you saying you paid $8 for it?

 

with 4 something for shipping. not too bad, but was disappointed when i received it compared to the other 72. That one is perfect. the folds on the envelope were not glued and the cello appeared to be tampered with.

 

I've seen TONS of 71's just like that. It's actually pretty common. Technically they are considered UNC, but of course they are just not good looking. As you'll read many times over on this site, a good AU-58 coins can look MUCH better than a MS-60.

In general the 72's look much much better!

Also, if you only paid $8, that's less than melt anyway. At the time of this post, a silver Ike melt value is $9.23.

 

I agree that UNC from the mint in all coins can and are beat to pieces at times. Remember Ike's are big heavy coins and one of them dropping into a hopper load can and do cause served damage at times. Just because it is in cello doesn't mean it will grade either I have went though several hundred mint sets that never had a coin in them worth submitting.

Maybe that why some times it seems like I do good to get face back out of them when selling them.

 

First off, paying only $8.00 for the coin is well below bullion value which, even with the price drop in silver, is currently at $9.29.

Second off, hits and dings DO NOT prevent a coin from being "uncirculated". Hits and dings are the result of US Mint handling.

Third off, this type of coin was a new thing for the US Mint. As such, handling procedures were not consistent with how Uncirculated, special collector coins should have been. Primarily, the 1971-S IKEs were packaged in 1,000 coin bags for shipment to the packaging facility. As coins are minted, they are very hot from the annealing process. That process actually softens the metal for a good die impression. They are most vulnerable to hits and dings immediately after they are minted. As such, the 1971-S Business strikes are literally plagued with hits and dings. There's also an abundance of "white smears" which are more than likely from sweaty mint worker inspections. That white is extremely difficult to remove and didn't show up until afdter several years of storage for these coins. These reasons are why, after 41 years, only two 1971-S Silver Business Strikes have graded MS68. TWO!

In 1972, the US Mint, after recieving numerous complaints over the quality of the $3.00 1971-S coins, changed their handling procedures. 1972-S coins were shipped to the packaging facility in tubes. No jostling, no getting thrown onto a shipping cart or into a shipping truck, no improper handling at all.The net result is an abundance of coins which grade MS67 upto the ultra rare MS69.

So, as an eBay buyer, don't hassle that seller too much since you got a great deal on a bullion piece. (Kinda like getting a BU Morgan for $19.50)
In the future, use the knowledge I just gave you when you consider purchasing anymore 1971-S Silver Business strike coins.

It'll save you headaches and it'll save the eBay sellers unnecessary headaches.

Below is a blue pack I'm saving simply because the coin inside is a literal POC and it just might grade for my Low Ball Eisenhower Set!

 

So you are keeping the guys coin and money?

 

I bought 4 of these about a month ago, still in the OGP and out of all 4, only one was in what I'd say, MS quality condition. I come across more of these in your type of condition rather than in perfect condition.

I paid a little over current melt value for mine so getting one for $8 to me is a bargain.

 

I don't think the transaction has been finalized since one of the last things said was:

"i said i will purchase it for melt and refund the difference, he still said no."

So maybe the buyer is gonna send the seller another $1.25 to get the thing up to melt value?

Personally, I think the seller is pulling his hair out over this one. I know I would.

 

I would like to see the auction. What were the dealers terms? What images were posted?
What did the dealer do to make this his fault?

 

If you dont know squat about ikes you should not be buying them raw.....

 

hey matt, if you dont know how to respond without flaming, maybe you should troll elsewhere. i dont need your type of advice nor is it welcome. so buzz off and thats saying it nicely. i joined this website and this type of BS i dont put up with

 

19lyds, thanks for the awesome writeup. i think i can understand now why the coin is the way it is. guess comparing it to the 72 well you can see why someone would think twice when its posted UNC with the cello from the mint. but the guy wouldnt answer any questions and when he said send it back and keep the wrapping, well makes you wonder. but this will help me at least get back with him and see what can be done. thanks again, its folks like you to take it the extra step to explain things and dont get off on a raw or smarta$* remarks. makes for a real "club" where one is free to exchange information. Thanks!

 

Please post a link to the auction.

 

wasnt auction. private sale through a friend of mine that belongs to a coin club in north texas. the guy had some coins and needed to sell asap. that was the only thing i bought.
the 72 was bought on ebay for 9.02 with 2.99 shipping that was a different seller