Hey folks, Today I was surfing around the new and came across another thread on another site and there was a thread posted about a lack of Ike's being brought to banks. The reason I ask about it here and not partake in that thread, there are many more knowledgeable folks over here. Well, as the thread read, a friend of a guys friend of a friend was a banker. This "banker" was telling his friend that IKE's usually come to the bank in 1000 coin bags. As of the posted thread (last week), this gentleman said that there hasn't been a Ike delivery in months. This guy said that many of the banks in his area are not receiving Ike deliveries anymore. So that leads to the million dollar question....... Has anyone heard of this rumor? Has anyone noticed a drop in the number of Ikes at local banks? As the thread went on, there were many replies. Some said that the government is stock piling them like they did with morgans to sell them. Some said that the government was looking to discontinue and melt down them. I donno if its all hogwash or actually true. anyone hear anything about this? -Jayson
a few months ago my bank said they couldn't order them for me anymore, they came in $500 bags not $1,000 though.
Yep, something big is going on. The guys at my LCS said someone came in and bought all the ike's they had. Drove away in a black suv, municipal plates.
the guy at my LCS stopped giving them in change, he just said it was because people would try to buy them all. this was about a year and a half ago though
My question is, why would any business minded bank order Ikes to begin with in this day and age? Banks didn't order them and people didn't use them when they were being minted 40 years ago.
The problem with getting information from one source who got it from another, then another and another is that it gets completely distorted . I wouldn't be surprised to learn that the original comment implied that banks won't order them because they come in $1,000 bags, and nobody other than collectors want them. Chris
Well if the bank no longer orders them because primarily only collectors grab them, wouldn't the government actually pull them?
Exactly Chris!! that's why I figured I would bring the subject up. Just as you said. The more people to join in on the rumor the more distorted it becomes
"Time to look seriously @ Ike dollars" http://www.numismaster.com/ta/numis/Article.jsp?ad=article&ArticleId=17986
I think there's some certain wishful thinking, a dash of paranoia, a misunderstanding of who is "stock piling" the coins (the Federal Reserve would be holding these, not the government, as they are with WAY too many over produced golden dollars), wholesale coin companies becoming aware of future designation attributions TPGs are willing to slab on Ikes, Ike group members and independent dealers doing the same, hysteria spurred by numismatic publicatinos directing readership to consider paying premiums on coins until recently spurned or overlooked, such media shepparding new trends and seeking subscribers through new articles to mine for revenue, and the list of reasons continues to grow...
See, I read this article too, but instead of believing the article, I choose not to share it and consider doing so, adding to the myth, hype, belief that something is worth more than it is too prematurely. Have to be careful of how publications manipulate readers.
Not for me, I collect them and already think a premium for fine examples of these coins are well worth the current values they trade at.