IKE's being pulled?

Discussion in 'Coin Chat' started by Jason1367, Jan 8, 2015.

  1. Jason1367

    Jason1367 Member

    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?

    RBBDoughty, Endeavor and swamp yankee like this.
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  3. jlogan

    jlogan Well-Known Member

    a few months ago my bank said they couldn't order them for me anymore, they came in $500 bags not $1,000 though.
    Endeavor and swamp yankee like this.
  4. bkozak33

    bkozak33 Collector

    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.
  5. jlogan

    jlogan Well-Known Member

    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
    Endeavor likes this.
  6. geekpryde

    geekpryde Husband and Father Moderator

    Is this tongue-in-cheek?
  7. krispy

    krispy krispy

    Jayson, Would you share the link to the other thread/forum where you read this?
  8. ldhair

    ldhair Clean Supporter

    I did not think banks were getting these in bags for many years.
    Spud Koolzip, swamp yankee and krispy like this.
  9. coleguy

    coleguy Coin Collector

    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.
  10. krispy

    krispy krispy

  11. cpm9ball

    cpm9ball CANNOT RE-MEMBER

    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.

  12. ken454

    ken454 Well-Known Member

    a year ago i asked my bank if they can order ikes, they said no, only the golden dollars...
  13. Jason1367

    Jason1367 Member

    krispy likes this.
  14. jlogan

    jlogan Well-Known Member

    they were a few months ago
  15. Jason1367

    Jason1367 Member

    Well if the bank no longer orders them because primarily only collectors grab them, wouldn't the government actually pull them?
  16. Jason1367

    Jason1367 Member

    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
  17. Jason1367

    Jason1367 Member

  18. krispy

    krispy krispy

    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...
    afantiques likes this.
  19. krispy

    krispy krispy

    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.
    mlov43 likes this.
  20. cladking

    cladking Coin Collector

    It's been 45 years since the Ike was proposed.

    It seems exceedingly late to be premature.
    Endeavor likes this.
  21. krispy

    krispy krispy

    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. :D
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