Discussion in 'US Coins Forum' started by rte, Sep 27, 2022.
What an I missing?
My father has a lot that he's saved up
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at shows and nice , I buy them.
You havent been able to get IKEs from a bank for at least a decade with few exceptions.
Theyre more popular than people realize and a lot of the sales are probably people looking to search them for high grades or a couple of the varieties that would pay for the lot.
The trouble is, the 50 year old coins in 1960 had seen a lot of use, and many of them had worn out been withdrawn from circulation. The Ikes never circulated very much of them, and much of the mintage survives. This is especially true because they don't contain any metal that worth melting.
The one word that explains the lack of desire of them: CLAD.
Yes, I recognize there are silver and proof Ikes worth collecting, but what is that?…maybe 1% of the mintage…imo…Spark
I agree. You will never get rich, but they haven't been available in banks for quite a while, and will get scarcer over time. Somewhat like buffalo nickels. Those who grew up around them thought they would never be worth anything. They will never be worth much, but over time will become harder to get. I just bought about 3000 of them for what I thought was my "fair price" of full date specimens, around 50-55 cents a piece. Ebay is high, but coin stores have been charging over $1 a piece for these in bulk for years. Now, uncirculated can be different entirely, this is just avg circ.
I think my Dad said he had 400 or more.
Honestly those prices from eBay looked pretty good. Under 2 dollars a coin and you dont have to spend any money on gas driving to and from the store. The XF/AU lot was a little weird since after fees to the seller given that they accepted an offer they probably made basically face value, might as well have spent those in that case.
I have a junk jar that I keep odd things in, so I put it in that jar.
I too had a teller at a bank that I deposited the checks for work.
Always a line at the drive thru so I went inside.
One time I was eyeballing the change tray asked it they had anything unusual.
She wasn't sure what I wanted.
I said like that tray there with those coins that look to have more silver on the rim.
I got a dollars worth of silver quarters.
Later on, She would occasionally say hay look at these if the timing was good.
One time she had four of the gold plated Kennedy halfs.
I took everything she set aside wether it was worth something or not just because.
I did let her know when something was better than face value...15x face for silver.
One of the older ladies who had been there for awhile caught on and started keeping the stuff.
I asked her once if she was a collector?
Nope just extra money for nothing.
I let her know if and or when she was looking at cashing out I'd be interested in looking at what she gathered up.
It was a smaller local bank, so when the older man came in to deposit his two $20 gold pieces in his savings account...they tried to explain that those were worth more but he didn't care.
They took them as a deposit and were going to contact his relatives.
Never heard the results of that one.
There are some scarce varieties. I would say someone is wanting to search them. I wouldn't pay that much for common clad ikes. But it is ebay. Why do ike rattlers worth 30 or 40 sell for 150-200 on ebay? Because people lose their minds sometimes...
There are a substantial number of these but the demand is very high.
Most people don't notice but the demand for nice chBU coins has been exploding as well. These now go for $3.50 to over $4 wholesale!!!
Gems so far are barely affected. Despite being so scarce you can still pick up most of the Gems for small premiums. What will set you back are the even scarcer very high grade coins.
Nice attractive Ikes are tough in almost any condition. In a lot of 100 coins there will be only a handful.
I've always liked Ikes although I like MS seated dollars a lot better...
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