SBA, and Ike question

Is it true that unless I have the ones that have silver in them or they are an error of some sort, the Ike's and the SBA's are only worth $1.

That is what he keeps on saying, he says that unless they are MS-67 or better, Proofs, errors (peg leg varieties..ET.) or have silver they are only worth face.

stainless

 

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what are the exceptions?

thanks
stainless

 

Ahhh...Ike's and SBA's. Two of the ugliest designs IMO, with an eagle in outer space on the reverse.
I'm not a big fan, but I know some have silver in them, and for the most part they're VERY easy sets to put together if you're a starter at sets.

Also, I'm pretty sure the SBA proof 1980-S type 2 goes for about $150 or so in PR69DCAM, and a number of Ikes go for high prices once they get up past MS66.

Atleast I'm pretty sure on these, if anyone cares to correct go ahead, as I could be wrong.

 

Hey Steve,
I think you mean the 81S T2 SBA is the big one. There is no 80S T2. The 81S T2 has been going for $200 or higher on ebay in PCGS or NGC PR69DCAM. The 79S T2 in same grade has been going for $100-150 on ebay.

 

I need those two to complete the series....trouble is there are too many other thing out there that I want as well. I keep hoping the prices will go down a bit but they haven't done so in the last two years.

 

That's my biggest problem , to many coins I want and not enough money .
rzage

 

I failed to mention that SBAs in MS66 and 67 are readily available on ebay slabbed PCGS and NGC and can be had for anywhere between $10 on the very low end and usually $25 on the high end - sometimes a bit higher. Anything in MS68 or higher will typically command higher prices and are typically above the normal prices because they are on ebay. SBA proofs if not found in PR69DCAM or higher are worthless IMO. 69s can be had for $25 or less slabbed.

AS far as IKEs go.... well proofs must be purchased in PR69DCAM or better and typically can be found on ebay between $20 to $30 tops. 70s will command higher prices. 72S, 73S, 74S and 76S silver can be found in MS67 for about $15-25 on ebay. 71S Silver can typically be found for MS66 at very reasonable prices - about the same as the other dates. Anything in 67 or higher for this date runs above $100.

Now for the P&Ds for the series.... well these prices are all over the place on ebay. I was bidding on a few of these on ebay and was trying to get a 71D and a 72D both in PCGS MS 65. The 71D went for $80 and the 72D went for $160. Seems like anything less than MS65 can be had for reasonable prices, but anything above that can get crazy.

 

I would have to completely disagree on this statement...and it's not just because you said it, particularly.

If there is ANYBODY who can get Ikes for $1, you would have quite a gold mine on your hands, seriously. Placing $1 in the bank will take two years or more to gain 5%. Yet, Ikes sell circulated...even in bulk...for that much, sometimes for 10% up.

It does not matter how "insignificant" the spread may be, the spread is there. Thus, the answer is a resounding "yes and no"...yes to the Ikes, no to the SBAs. SBAs are still abundantly available at banks and easily found in circulation. You can get an SBA for $1, provided your bank or credit union deals in dollar coins.

Ikes on the other hand are no longer available through the Fed distribution channels (though there are some who claim they can get them from the Fed, but I have not seen anyone show any results). Banks and Credit Unions only have Ikes available when they are turned in...and even accepted...by a customer.

Metal content is no issue...circulation scarcity is. Ikes are scarce, and thus, even though the spread may be quite low, hoarders and collectors do pay a premium over face. This premium exceeds both what you would get from depository gains as well as even acceptable investment gains.

An acceptable investment gain is 12% annually. Basically, if you start with a $2000 investment, an acceptable return over the year should be $240 above costs of the investment. Placing that same $2000 in a bank for the year would normally yield about $45 on the annum.

That same $2000 invested over a one month period (time to purchase/receive/market/sell/ship) if you could get them at face value, should return at least $100 if sold for even as low as $1.05 each. If done on a monthly basis, that's a yield of $1200 on the annum!

To get the same form of return from a bank savings account would require $48000 to sit in your account all year long! Or, you would have to invest (and yield an acceptable return) $10000 for the year.

Of course, that would all be IF Ikes were indeed only worth $1. Then again, if Ikes were truly only worth $1, we would not be seeing people paying a premium (no matter how insignificantly small) to obtain them.

So because we do not see people making that kind of spread on Ikes, and because the Ikes people are selling are usually not obtained for $1 a piece, and because people are indeed paying that still small premium of a few cents on the dollar to get them, be assured that Ikes truly are NOT worth only $1, no matter how insignificantly above face value the current demand price is.

 

Yep you were right! I knew it was one or the other

 

I won't get into the discussion. I agree with almost all that has been said.

Only one thing to add - the 1971P and D and the 1972 P and D were not in mint sets, so those four coins in Uncirculated probably should command a higher premium than one from another date. Secondly, the 1973P and D were ONLY available in mint sets - so the only way was to buy a mint set - so total number is 3,000,000 or so.

That is all.

 

Nicely circulated Ikes seem to go for slightly more than $1 apiece. I recently sold a slew of them on ebay and made about $1.10 - $1.25 apiece. I could have taken them to the bank, but I saw other auctions ending above face value. You definitely won't get rich off Ikes, but they can sell for over face value.

 

Absolutely true. I have accounts at 5 banks. My name is on thier lists for Ike coins. Any of them. They have lists with many people's names on them. For the last 5 or more years none have been there. They are not available for face value anywhere unless you find some at a garage sale. I keep hearing you can get them for face value and when I say OK here is $100, get me a hundred. So ends that.

 

Circulated Ikes are worth about face but if your talking high grade thats a different story. 71P, 72P Type 1&3 graded PCGS MS65 sell regularly for $100+ and there are a couple other that sell for $50+ not sure which (I think the 73S sliver proof and 74S Clad proof).

 

Doug, I picked up these 20 BU Ike's for a dollar each about 2 months ago. There's 18 1976 and two 1971 D.

Lou

 

Die varieties for the two sets are a big relatively unexplored area of the hobby. If your interested in that sort of thing, hoard all you can. Just my opinion.

 

Has anyone sold Ikes for a premium recently?

If so, how much? (or per 20 Ikes).

Thanks.

 

I have set of Ike's I bought a few years ago raw. First and only time I bought a complete set. I'm too lazy to get up and look, but the complete set is I think 32 coins.

A few times each year I look on ebay to see what a set sells for. It appears to me each year a complete set averages about 8 to 12 per cent increase from my original price. Now if you want a real deal HSN sells a set of for $499.95 plus S&H, and it comes in a solid oak case. That's right only $499.95.