Starting an Ike Collection

Discussion in 'US Coins Forum' started by Bman33, May 13, 2017.

  1. Bman33

    Bman33 Well-Known Member

    So, I am just about 100% sure I want to start an Ike collection. I love the reverse of the coin so much that it will become my first set hopefully. Another aspect of this set that I like is that is inexpensive. Am I missing something other than that? Are there any key dates that are over $100? I think I want to get all the 40% Silvers first. Is that a good way to go about it? For the business strikes what do you look for as far as grading them?
     
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  3. ToughCOINS

    ToughCOINS Dealer Member Moderator

    Best Answer
    I built a few very nice sets of raw clad Ikes decades ago . . . the best are buried deeply in the SDB. I graded the second tier set, and got mostly 65 & 66 grades from PCGS in OGH. Those were the days when I could buy original mint-sewn bags of 1000 coins and peddle through them looking for gems. That opportunity seems not to exist any longer, as I've not seen an single original mint sewn bag of any date advertised for over 10 years.

    I am not all that enthused about the prevailing grading standards for clad Ikes. although the standards for 40% seem fairly consistent with other series. As with other series, you should look for a full strike, good luster, and attractive surfaces, however the surfaces may not be quite as clean as on Morgan and Peace dollars of the same grade. As with all series, attractive natural color will add value and possibly grading points as well.

    The lenience given to surface quality on clad Ikes is likely due to the prevalence of mint-made flaws in the clad planchets which usually do not strike out in such large coins of such hard material, so you'll probably need to attenuate your expectations a bit if you already have designs on building a gem set on a modest budget.

    - Mike
     
  4. paddyman98

    paddyman98 No Common Cents! Supporter

    Ike Coins are wonderful. I just have Errors and Varieties though ;)
    2628091-008.JPG 3345551-006.JPG 2652187-004.JPG 3507580-010.JPG 3885094-042.JPG 4332054-001.JPG Eagle.JPG
     
    dlhill132, Paul M., Bman33 and 5 others like this.
  5. Collecting Nut

    Collecting Nut Borderline Hoarder

    You should be able to buy a completed set of 32 coins in a Dansco album for about $225.00.
     
    19Lyds and Seattlite86 like this.
  6. Johndoe2000$

    Johndoe2000$ RE-MEMBER

    High grade Ikes can get pricey. I agree with @Collecting Nut, about the price of an average uncirculated set though. Good luck on completing your set.
     
  7. ToughCOINS

    ToughCOINS Dealer Member Moderator

    Best Answer
    I built a few very nice sets of raw clad Ikes decades ago . . . the best are buried deeply in the SDB. I graded the second tier set, and got mostly 65 & 66 grades from PCGS in OGH. Those were the days when I could buy original mint-sewn bags of 1000 coins and peddle through them looking for gems. That opportunity seems not to exist any longer, as I've not seen an single original mint sewn bag of any date advertised for over 10 years.

    I am not all that enthused about the prevailing grading standards for clad Ikes. although the standards for 40% seem fairly consistent with other series. As with other series, you should look for a full strike, good luster, and attractive surfaces, however the surfaces may not be quite as clean as on Morgan and Peace dollars of the same grade. As with all series, attractive natural color will add value and possibly grading points as well.

    The lenience given to surface quality on clad Ikes is likely due to the prevalence of mint-made flaws in the clad planchets which usually do not strike out in such large coins of such hard material, so you'll probably need to attenuate your expectations a bit if you already have designs on building a gem set on a modest budget.

    - Mike
     
  8. mikenoodle

    mikenoodle The Village Idiot

    Ike's are a great set to assemble because they teach you so much about grading.

    Attractive, brilliant coins can still be found if you search, but it's a quest.

    As far as the series, Bman, before you start to buy them, start looking at a lot slabbed examples to get an idea what the prevailing market expects for typical grades.

    The 1971 and 1972 coins will be more difficult to find as they are not readily available from Mint sets. Conversely, the 1973 coins are ONLY available from Mint sets.

    I have a very good friend who knows a bit about Ikes. He may be the foremost expert on them in the US. He once sent a 1972 Ike for grading (several times) and eventually sold it for over $14,000. My point being that there will be many opinions out there and some may not always jive with others. Learn all that you can before you embark on assembling a set.

    It's a great coin, a great, short series, and you can do well for yourself if you can learn to grade them correctly.
     
    Kasia, LA_Geezer, Tater and 1 other person like this.
  9. Bman33

    Bman33 Well-Known Member

    Thanks for the advice guys. Looks like I have some learning to do before I do the collection right. I'm going to a coin show today and planned on buying some Ike's. Now I'll just learn and maybe buy one!
     
  10. coinguy-matthew

    coinguy-matthew Ike Crazy

    Absolutely love collecting Ikes but read the home page of the Ike group before you go in too deep, It sums up the Ike market pretty well. In my experience and personal opinion most grading companies have done a poor job of the series leading to much confusion. With that though presents the opportunity to get some really nice under graded coins for cheap. Its all what you make it and ill put the link to the Ike group below, pretty much the authority on Ikes.

    http://www.ikegroup.info/
     
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  11. fish4uinmd

    fish4uinmd Well-Known Member

    @Bman33 If it hasn't been mentioned yet the '72 type 2 might be a challenge and a bit expensive.
     
  12. fish4uinmd

    fish4uinmd Well-Known Member

    @coinguy-matthew Thanks for sharing that link.
     
    coinguy-matthew likes this.
  13. Christopher290

    Christopher290 Active Member

    i love collecting Ike's.
     
  14. These need a bath and new holders.
    20170513_124908.jpg 20170513_124953.jpg
     
  15. baseball21

    baseball21 Well-Known Member

    Next thing you know you'll be doing an SBA set too
     
    odinsruleg8 likes this.
  16. Friday

    Friday Active Member

    The year on is 1972 and 1977.
     
  17. ldhair

    ldhair Clean Supporter

    You guys should start your own threads.
     
  18. 20170513_144340.jpg
     
  19. ldhair

    ldhair Clean Supporter

    You might get answers to your questions if you did.
     
  20. Crap. Im sorry. I thought this was the Ike thread. My apologies.
     
    LA_Geezer likes this.
  21. ldhair

    ldhair Clean Supporter

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