Started a slabbed IKE collection back in November and glad to say I am almost done. Has anyonee else noticed the price of nice MS65 IKEs sky rocket? There was a coin world article awhile ago about the IKE series being a sleeper. Don't know if that is the cause of the price run? Can't say I love this coin, but I just wanted to have a complete collection of something. Only 5 to go: 1971S Unc 1972 Type 2 1974S Proof Clad 1976 Type 1 1976D Type 1
As with so many others that do things they are sorry for. Way back in the late 70's I had accumulated a large pile of those dollar coins and was thinking this is dumb so I took them all to a bank. Now it's why didn't I wait.
Have you taken a look at Jefferson's lately? While still affordable, they're going way up too. I dunno, seems like prices are out of whack. Graysheet will say $1 and you can't find one for less than $4. Try finding a 1931-D merc. Check out the latest prices on the high end 1949 roosies. It's taking my breathe away!
With the IKE's, I believe that most dates had quality issues. As a result, there aren't many slabbed in the high MS's (excluding SGS of course). My guess is that it may have finally reached a plateau of old stashes having been cashed in and circulated. I imagine there will be a similar phenomenon with old style bills. One day everyone will wake up and realize that the Fed shredded a whole boatload of them and they are starting to get scarce. Unlike the IKE's that the Fed still recirculate, the old bills will continue to get more scarce as the Fed destroys all that they receive.
There are a ton of articles like the one you read about the IKEs being sleepers. It definately helps prices go up. Im now starting to read about the Mercury dimes. Good luck with the collection.
A 72 type 2 in a 65 slab is going to set you back a serious chunk of change. I love the series, and always have. It was the first series I collected as a child and also the series I "cut my teeth" on when I got back into numismatics a few years ago. If you are interested, you can see my MS Ike collection here: http://www.pbase.com/miker/mint_state_ikes
Checked out your IKE's. All I can say is WOW! Don't know what those set you back when you purchased them but have an idea what they would set you back today!
Mike - Love your IKE's. Man those are nice. I have put together a complete UNC/proof set, minus the 72 type II, but nothing as beaming as yours. I think IKE's are way underrated and make a terrific set when you add both the blue and brown IKE's. Joe
Thanks for the post. Always looking for examples for the difference between type 2 and type 3 on the 1972.
Most people just have no conception how tough Ikes are in high grade or even in just nice condition. Sure, a '77 or a '78-D in near gem isn't too tough but most of the other dates are far more difficult than the Morgans. First off the Morgans were made of silver back in the day that the mint had higher standards and then these coins sat in bank bags for half a century or more. This assured that many pristine examples of most dates survived. The Ikes were released into commerce. Very few got much circulation but most got some. Then there are the rolls, bags, and mint sets that were set aside. While most moderns were not saved the Ike was. This wasn't large numbers but there were a few thousand collectors and more thousands of speculators. The problem was that these coins were simply horrid. Most examples are just covered with planchet scratches. If you find one well enough struck that these aren't a problem then it will be banged up and have a mushy strike. Some dates are tarnishing now as well. I started seriously collecting moderns in 1972. I mostly just ignored the Ikes because I thought they were all horrid and no one would ever want to collect junk. It was 1978 before I saw my first gem Ike. It was a 1977 in a mint set and it was just stunningly beautiful. This got me to start a set and take a much harder look for more nice coins. Over the years I've accumulated a few of these and have all the dates in gem that appear in mint sets and a couple others. The common ones I have several duplicates. This is a fun set and can be put together from rolls even in high grade. It's a really sweet set for people who don't want to spend a lot of money too, because it can be put together in near-gem/ gem for very little cost and a heck of a challenge.
It may be no consolation but the chances of there having been anything that would be valuable today in that lot aren't high. You could have had a very desirable variety but even this would be $100 or so. The coins that came from the banks in those days would be almost entirely the same sort of thing you see now but slightly better condition. Even in a random sampling of unc coins you'd need a few thousand to be sure to have a gem. You probably did better cashing them in and investing the money.
Off topic, but the title of this thread is really hard to say 3 times fast. Just a little note from captain observation. stainless
Good for you Nickelman. I read that article also so I grabbed a few higher end Ikes at that time. Guess I need to buy somemore.
