Post an Ike

These are becoming one of my favorite types.

 

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here is a 72 on the left and a 76 on the right

 

Sorry. Mine is a little mangled.

 

These are not mine.

 

I like IKE.....I really do!

 

Wow, you got some nice Ike's in there. :thumb:

 

Cookie Monster

 

You know the interesting thing about Ikes is that some of them are very hard to get above MS66. That one I posted from Heritage I believe is an MS67 that went for over $6,000.

What is weird is that one grade down they sell at about $200.00

Ruben

 

The MS coins in Clad will put a dent in your wallet in 66 or better.
Learning to grade the MS Clad is tough. It drove me crazy (short trip I know:smile). The strike did not always remove all the tiny marks (hits) on the planchet. This can really fool people. I'll post more on this in a few.

 

This is the best example of what I was saying above without getting the camera out. Even with all the chatter PCGS still gave it a 65. The strike was not strong enough to remove it.

I see this same deal on Jefferson nickels. Hits before the strike can really fool a person when it comes to grading.

 

It's not weird, its crazy. Some people will pay a fortune to get that one grade higher or earn more points for their registry.

 

In this case it is actually an MS69

http://coins.ha.com/common/view_item.php?Sale_No=330&Lot_No=9145&src=pr

$9,775.00

Previous Prices from Heritage Auctions Lot Date Grade Service Realized Auction 330, Lot 9145 Saturday, September 20, 2003 69 PCGS $9,775.00 Auction 24043, Lot 13754 Tuesday, April 20, 2004 68 PCGS $70.15 Auction 27044, Lot 11601 Tuesday, April 24, 2007 68 PCGS $80.50 Auction 66033, Lot 24457 Sunday, March 19, 2006 68 PCGS $80.50 Auction 361, Lot 3260 Monday, January 17, 2005 68 PCGS $86.25 Auction 26062, Lot 14059 Tuesday, June 13, 2006 68 PCGS $86.25 Auction 28095, Lot 26682 Tuesday, September 30, 2008 68 PCGS $90.85 Auction 361, Lot 3258 Monday, January 17, 2005 68 PCGS $97.75 Auction 26023, Lot 13632 Tuesday, February 21, 2006 68 PCGS $97.75

 

You know, that price kind of surprises me because even though its the highest PCGS graded it still has a fairly high population and its a silver coin. The insane prices I have seen are for the really small population clad circulation strikes in the 66 or 67 range where the next lowest grade is much cheaper.

To me, that MS69 (with a population of 69) isn't that rare.

 

I expected to see the highest prices go for 1972 type 2's but to my surpirse that wasn't the case, which goes to show just how rare high grade MS Ikes are. I believe that they pose the greatest potential for upward prices. Thats a lot for me to say because I generally discoruage speculating on coins.

Ruben

 

http://coins.ha.com/common/view_item.php?Sale_No=1108&Lot_No=2775&src=pr#Photo

See this 1972 -D sold for over $6k, graded at MS67 and I'm not even sure I'd agree with the grade.

Ruben

 

Well, I think because of the size of the coin and difficulty it was to strike in clad has created a very small population of high grade MS clad examples. Because of that, the higher the grade the more money despite the rarity of the issue. The ultra high grade coins with nearly unique populations command insane prices thanks to registry collectors driving up the price. This results in the dramatic drop in price seen between one grade point. I don't know if these ultra high grades are a good long term investment. I think eventually this registry bubble will burst. For one reason, I think people will realize the ridiculousness in the incredible markup for one point. Also, the inherent risk with these nearly unique population coins is the value is totally dependent on the small population. As time goes on and more coins get graded...a couple more might appear. That might not seem like much, but if a coin with a population of 3 has 2 more appear...the availability has nearly doubled. That can't be good for the price.

 

Its not the MS69's that I think are good investments in the long term, but the MS65's which go for $10.00. those coins are still rarish and very underpriced. Or more specifically, I think that demand is currently very low for them but that will change in the next decade.

Ruben

 

I think you're right. I think this set is under appreciated and will grow in the coming years.