Realistic Value for Circulated Ikes and Kennedys

ElKevvo

I might get an opportunity to go look at someone's collection/hoard of Ikes and Kennedys. I have been told that most likely all were pulled from circulated but possibly there might be some 40% items there.

As far as the Ikes what would be a decent value on them? Heck I have a partial roll of 18 on my desk that I was thinking of just spending but I know they have a slight premium so I was thinking of maybe $1.25. Of course there has to be a channel to dispose of them.

And with the Kennedys unless they are 40% if they are circulated I would say 50 cents since I can go get a box from my bank at that rate.

Am I off base here? Thoughts?

1630Boston

Groundhog day ?

JBK

Maybe he wanted a second opinion.

SPalladino

Regarding circulated Ikes:
1) Clad Ikes have a melt value of < $1, so face is what you will get for circulated Ikes....except from an Ike collector wanting to search for varieties, or a old slot machine owner...IOW, the pool of buyers that would pay over face values is small.
2) The exceptions to #1, for clad Ikes in circulated condition: a) 1972 Type 2 (and Type 3 to a lesser extent), b) 1971D Friendly Eagle, c) bicentennial Ikes might get your a couple of bucks , d) low ball Ikes in grades 1,2,3. In addition, there are a few varieties that Ike collectors might pay a premium for, like peg leg Ikes.
3) Circulated silver Ikes have a melt of just over $7.50, and can garner a bit of a premium, because, well, silver.
4) The exceptions to # 3, for silver Ike in circulated condition would be 1971S varieties - the FS-401 peg leg and FS-501 RPM. In addition, there are a few varieties (DIVa Ikes) that Ike collectors might pay a premium for.

ricko

@SPalladino... Thanks for that itemized list. I will save it and check my Ike dollars.... Most are raw that I accumulated years ago. Cheers, RickO

GotTheBug

Have fun with them and use them to pay when the clerk is under the age of 30. I once used an Ike dollar at a toll booth and the toll collector studied it for nearly a minute while the cars piled up behind me. She asked me if it was really money, so I referred her to look for United States of America and One Dollar on the reverse. She still wasn't convinced, but she took it anyway.

brasscoinsroc

Do you mind if I jump in the middle post, I would like to ask a couple of questions that maybe someone could answer.

ElKevvo

Jump away!

K

brasscoinsroc

Next Tues I'm getting A IKE images on a SEM. Do you know if PCGS will accept the paperwork from the college for authentication, for the planchet.

jmlanzaf

@brasscoinsroc said:
Next Tues I'm getting A IKE images on a SEM. Do you know if PCGS will accept the paperwork from the college for authentication, for the planchet.

I doubt it. How would they know the SEM came from that coin?

brasscoinsroc

Hopefully pics, and physical discription.

brasscoinsroc

Do you know if PCGS does there attribution services in house or do they send them out.

daltex

@brasscoinsroc said:
Next Tues I'm getting A IKE images on a SEM. Do you know if PCGS will accept the paperwork from the college for authentication, for the planchet.

Am I the only one who has no idea what this means?

brasscoinsroc

(SEM) Scanning Electron Microscope. That word images should have said imaged but spell check changed it.

brasscoinsroc

Oops!!!. sorry is that one of those taboo questions. Forgive me I'm new to posting and etiquette. For yrs I have come to this site to just read, untill a couple of days ago I never posted anything. So if I blew I'm sorry.

rooksmith

@SPalladino said:
Regarding circulated Ikes:
1) Clad Ikes have a melt value of < $1, so face is what you will get for circulated Ikes....except from an Ike collector wanting to search for varieties, or a old slot machine owner...IOW, the pool of buyers that would pay over face values is small.
2) The exceptions to #1, for clad Ikes in circulated condition: a) 1972 Type 2 (and Type 3 to a lesser extent), b) 1971D Friendly Eagle, c) bicentennial Ikes might get your a couple of bucks , d) low ball Ikes in grades 1,2,3. In addition, there are a few varieties that Ike collectors might pay a premium for, like peg leg Ikes.
3) Circulated silver Ikes have a melt of just over $7.50, and can garner a bit of a premium, because, well, silver.
4) The exceptions to # 3, for silver Ike in circulated condition would be 1971S varieties - the FS-401 peg leg and FS-501 RPM. In addition, there are a few varieties (DIVa Ikes) that Ike collectors might pay a premium for.

While I agree with you, I think there is a matter of condition with circulated Ikes and Kennedys. Also there are such a number of varieties in addition to the basic varieties mentioned above. Check out the IKE group https://www.ikegroup.info

MrEureka

My understanding is that any decent looking circulated is now worth a decent premium right now, assuming a large enough quantity that it's worth the hassle. Until about a year ago, I spent a lot of them. Now, I let them pile up.

MrEureka

@brasscoinsroc said:
Next Tues I'm getting A IKE images on a SEM. Do you know if PCGS will accept the paperwork from the college for authentication, for the planchet.

Sounds like you're getting an SEM-EDX analysis of composition, not images. In which case I would not expect PCGS to rely on your paperwork, but at least you'll know if it's worth paying PCGS do the tests again. What is the coin?

CaptHenway

I am a former professional Authenticator who has used a Scanning Electron Microscope to authenticate a few coins, so I feel qualified to ask: What coin are you trying to authenticate, and what were you trying to establish with an SEM? For most coins an SEM is a lot of overkill.

SPalladino

@rooksmith said:

@SPalladino said:
Regarding circulated Ikes:
1) Clad Ikes have a melt value of < $1, so face is what you will get for circulated Ikes....except from an Ike collector wanting to search for varieties, or a old slot machine owner...IOW, the pool of buyers that would pay over face values is small.
2) The exceptions to #1, for clad Ikes in circulated condition: a) 1972 Type 2 (and Type 3 to a lesser extent), b) 1971D Friendly Eagle, c) bicentennial Ikes might get your a couple of bucks , d) low ball Ikes in grades 1,2,3. In addition, there are a few varieties that Ike collectors might pay a premium for, like peg leg Ikes.
3) Circulated silver Ikes have a melt of just over $7.50, and can garner a bit of a premium, because, well, silver.
4) The exceptions to # 3, for silver Ike in circulated condition would be 1971S varieties - the FS-401 peg leg and FS-501 RPM. In addition, there are a few varieties (DIVa Ikes) that Ike collectors might pay a premium for.

While I agree with you, I think there is a matter of condition with circulated Ikes and Kennedys. Also there are such a number of varieties in addition to the basic varieties mentioned above. Check out the IKE group https://www.ikegroup.info

1) I am quite familiar with the Ike Group
2) With the exceptions that I mention in points #1,2,and 4, the condition of the circulated Ike will make no difference.
3) WRT to "Also there are such a number of varieties in addition to the basic varieties mentioned above", note that I wrote, "except from an Ike collector wanting to search for varieties", and "In addition, there are a few varieties that Ike collectors might pay a premium for, like peg leg Ikes.", and "In addition, there are a few varieties (DIVa Ikes) that Ike collectors might pay a premium for.", all of which were in reference to circulated Ikes.

Thank you for the reply.

Barberian

@daltex said:

@brasscoinsroc said:
Next Tues I'm getting A IKE images on a SEM. Do you know if PCGS will accept the paperwork from the college for authentication, for the planchet.

Am I the only one who has no idea what this means?

My first thought was "scanning electron microscope" but that didn't make much sense to me.

Jzyskowski1

@CaptHenway said:
I am a former professional Authenticator who has used a Scanning Electron Microscope to authenticate a few coins, so I feel qualified to ask: What coin are you trying to authenticate, and what were you trying to establish with an SEM? For most coins an SEM is a lot of overkill.

I too would love an answer as I am right in the middle of grading studies and learning to use a jewelers loop, 50x-1000x micro scope ( not offen). Thanks. Looking forward to learning a little more about this. Thank you again

Cougar1978

Most likely tell them go sell silver ones at coin shop. Others cash in at bank for face.

Would not even want fool with them.

I had an estate offered like that. I made an offer on what I wanted from it / common barber dimes g/vg and a gasa dollar not worth more than MS60 money. The rest basically all trash worn slick type, etc. The good stuff he most likely blew out while still alive. On estates like that you have to cull out the trash then offer on what you want. You could help them and point out “these over here not worth more than face and these circ 90pct take to coin shop.” The coin shop may offer them 90 pct BV if that much as it costs a lot to stock these.

The majority of estates I have seen all left is the junk and trash the good stuff if any sold off years ago.

cladking

@ElKevvo said:
I might get an opportunity to go look at someone's collection/hoard of Ikes and Kennedys. I have been told that most likely all were pulled from circulated but possibly there might be some 40% items there.

As far as the Ikes what would be a decent value on them? Heck I have a partial roll of 18 on my desk that I was thinking of just spending but I know they have a slight premium so I was thinking of maybe $1.25. Of course there has to be a channel to dispose of them.

And with the Kennedys unless they are 40% if they are circulated I would say 50 cents since I can go get a box from my bank at that rate.

Am I off base here? Thoughts?

Nice attractive circ Ikes are going for $1.50 wholesale right now. This may or may not last and shipping costs are high so I wouldn't pay over $1.10 or so. Ugly coins, casino coins, and culls are $1.25 at best. Since there are more bad Ikes than good I'd be hesitant to pay much over face unless I had a ready buyer. Half dollars are 50c. They're hard to give away unless they're unc and then they wholesale between one dollar and two dollars mostly. A few are a little lower. Uncs must be nice attractive coins by the roll to get this price. Unc Ikes bring $3.50 and up now.

AUandAG

Retail is slightly above face for Ikes. I would not pay face. Let him take them to the bank. If you want to sit a search varieties and he'll sell those for face, then maybe spend the time. I would not. 40% Kennedys do have a value well above face and those I'd buy. I'd pay $1.75 each for them. The rest of the Kennedys just let him take those to the bank as well.
Hope that gives you a direction.....your prices may differ from mine.

bob

davewesen

I am also curious why anyone would want 10X - 1,000,000X magnification of a surface.

Oldhoopster

@Jzyskowski1 said:

@CaptHenway said:
I am a former professional Authenticator who has used a Scanning Electron Microscope to authenticate a few coins, so I feel qualified to ask: What coin are you trying to authenticate, and what were you trying to establish with an SEM? For most coins an SEM is a lot of overkill.

I too would love an answer as I am right in the middle of grading studies and learning to use a jewelers loop, 50x-1000x micro scope ( not offen). Thanks. Looking forward to learning a little more about this. Thank you again

@davewesen said:
I am also curious why anyone would want 10X - 1,000,000X magnification of a surface.

As @MrEureka pointed out, SEMs have an additional analytical tool called Energy Dispersive X-Ray Spectroscopy. SEM-EDS can be used for compositional analysis, which may be the application in the original SEM comment.

pcgscacgold

I use Ikes to pay the entry fee at coin shows. The old guys at the table love to get them.

I also use $2 bills when I have them. When I handed one over at the show last weekend one guy instantly took out his wallet and exchanged two singles for the $2 bill. Glad I made someone's day. Next weekend it will be back to 2 Ikes to pay to get in.