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<p>[QUOTE=&quot;cladking, post: 172025, member: 68&quot;]Ikes had a little limited circulation from &#039;71 to &#039;77.&nbsp; Turnover was very slow but most Ikes were spent at least once or twice during this era.&nbsp; Ikes were used extensively by casinos for many years but this is not true circulation since they stop as soon as they are removed from these locations.&nbsp; They had mostly stopped circulating before the SBA was introduced.&nbsp; After the SBA more people started saving the coins in sock drawers and change jars believing that they were potentially valuable.&nbsp; They were so difficult to locate at banks that a premium of as much as 20c developed for them by the late &#039;90&#039;s but this premium evaporated by around 2004.&nbsp; This was probably because more people had become more interested in coins and learned that the Ikes had no &quot;numismatic value&quot;.&nbsp; This has led the coins to flow back to the FED.&nbsp; It&#039;s very likely that the FED just keeps a few tens of millions of these in storage but it&#039;s entirely possible that they consider them obsolete and are melting the Ikes coming in.&nbsp; </p><p><br /></p><p>While not in change, most banks have few enough of these that their customers will absorb all of them so they aren&#039;t returned to the FED.&nbsp; Inquiring at banks will often yield a dozen or more of the coins.[/QUOTE]</p><p><br /></p>

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