Is the PCGS MS65 Ike Market Bombing out?

moosesr

I have several PCGS MS65 clad and MS67/68 silver Ikes that I bought two or three years ago and was thinking of selling some of my duplicates. When I checked recent eBay prices they seem to be selling for 15 to 30 percent less than what I paid for them. I have a 1973-S MS68 silver that I paid $200 for that I have seen selling on eBay for just a little over $100. Is it time to sell all my Ikes before the prices get even lower? Has anyone else noticed this drop in Ike prices, was it sudden or gradual, and do you think they will keep droping in price?

Charlie

Russ

Pops up, prices down. It's the universal slabbing law. Immutable, like the laws of physics.

Russ, NCNE

MSD61

Not to make you feel worse but there is a 73-S silver MS68 Ike over at the bay with 2 days left on it sitting at $44 bucks. I really think Ikes will not go down any farther. Some Ikes, like the 72-P type II, will be the next 3 legged buffalo along with some other attributed types that will bring a premium in time. I also feel that not enough people know enough about Ikes to know that finding gems is a tough road to hoe. I just feel that right now Ike dollars are only appreciated by a small group. face it, you got a coin with a blad guy on it. It's like the saying " a face only a mother could love." well, that's how it is with Ike collectors and many don't share the same feeling. I feel in time when more people find these dollars becoming harder to find in the higher grades their worth will go up. I don't sell enough Ikes to see a drop in price, however, I have noticed prices rising and more interest for Ikes above MS64. Of course this is all just my opinion

moosesr

Immutable I guess I need to look that up in the dictionary. Sounds like I should be selling all my Ikes and going to some other series. I had about 20 Millennium C and C sets that I watched go from selling on eBay for around $80 down to $40, I sold mine for $38, and of course I sold my CC Morgans right before they started up in price. I think from now on I will stick to mainly key date coins or try to make some moderns in high grade on my own instead of buying them slabbed.

Charlie

Peaceman

I don't think the pop's have anything to do with it.... You can have a coin that is rare with no demand..... and it's still worth nothing....

pragmaticgoat

I agree the 72 Ike pcgs65 is going vertical in price....I just listed my last extra one tonight on EBAY....check it out

1972 IKE PCGS65 TY3

USMC_6115

I tend to agree with MSD61. I think the 72 (P) Type II is going to be hugely sought after. No one can deny it's a rare coin. It is believed that only one die was used for this coin hammering out roughly (no one knows, maybe more, maybe far less) 100,000 coins. A short year ago you could get an MS65 for a couple hundred beans, now??? IMO, I think you'll see a steady rise in all gem IKE prices over the next several years, especially in the aforementioned dates: 71(P), 72 (P) - all 3, 76 (P) T1, and I think the 73 (P) will become more valuable in the future...

I'm certainly hoping the 72 (P) Type II will be like the 3 Legged Buffalo, I have quite a hoard of them. And, I'm still looking...

supercoin

You can thank Supercoin for the unnecessary (if you are a collector) rise in prices on the 72s.

Hey, I did my part to keep prices down by liquidating my entire inventory below what they are bringing now.

More broadly speaking I'd agree with what others have said... easier clad dates stable to mildly down while tougher dates up. Apparently when the going gets tough, the tough get tougher. Relative to demand, anyway.



Regarding silver Ikes, I think at least one big bulk slabber starting searching/submitting silver Ikes en masse about a year ago which may have affected them.

There are also just a lot more superb gem+ silvers to go around than, say, MS65 key clad dates. So if you're putting together an MS65+ collection the MS68 silvers are pretty easy compared to the scarcer key clads that you're competing with other collectors to obtain. And if you're putting together an MS64+ collection, you're probably happy with a MS67 silver for cheap. Either way the MS68s are sort of out in the cold.

That's not to say the silvers are necessarily "easy", especially for premium examples. Try to put together a set of booming lustrous examples like can be sometimes be found with the 72-S and you'll be looking for a while. And of course the 71-S remains very tough to find nice, in fact it has yet to yield a single PCGS MS68.

supercoin

Actually, in retrospect I would have sold them all 2 years ago before fighting w/PCGS for untold months to get them attributed, and exited this lousy (from a financial standpoint) business a year earlier! Hehe.

But, then I'd have missed out on numismatic immortality... plastic is forever. I hope they use fade-proof ink on the inserts.

Gandyjai

I agree with MSD61 and Masscrew on the Type 2 Ikes....And a BIG THANKS to Supercoin for getting them the
attribution they deserve. The Silvers do seem to be a little saturated right now....That may change as more
collectors come into the market.

Gandyjai

darktone

How do you tell the 72-P type II from the common variety? mike

keets

hey Charlie

speculating and investing is inherently a risky thing to do. my collecting strategy has never been to purchase multiples of anything that i collect, at least not with the added value premium that purchasing them already holdered entails. raw is an entirely different topic. it sounds to me like you went on a little tear with a series you enjoy with the misjudgement that you could turn a tidy profit in a short time frame and you miscalculated. as Russ said, Ike's seem to have suffered from being "discovered" by quite a few collectors and the pops/prices reflect that interest. there are always dates within a series that perform well at the higher grades or just due to some degree of scarcity and Ike's are no exception. your choice of PCGS MS65 clad and MS67/68 silver Ikes was probably a poorly considered one from an investment perspective, you ended up with already common coins that got even more common while you held them. had you chosen MS66+ clads and MS68+ silvers with the better dates as a consideration, you'd be enjoying some more robust returns now.

if i've misunderstood your post, please excuse me and ignore my reply. i just get the impression that you speculated some and are now a bit put off by your mistakes. better luck next time.

al h.

moosesr

Al, I think you read my post correctly. I bought some duplicates when the prices first started going down a couple of years ago and then didn't buy more thinking they would eventually go back up and I could sell off some for profit. I should have been paying more attention to prices and sold some of my duplicates before they dropped so much more in price. I know the pops are increasing, but I thought the influx of new collectors would probably compensate for the increased pops. I guess most new collectors are mainly interested in state quarters. I wonder if the same thing is now happening with the Jefferson Nickel series?

Charlie

keets

I wonder if the same thing is now happening with the Jefferson Nickel series?

hey Charlie

the pops on some of the Jeffersons have changed somewhat, some drastically. i have fairly specialized grades that i collect, so that's where i watch prices, mainly MS66FS for business strikes. since prices for Moderns are spotty and speculative at best, i try to maintain a file of eBay sales for the dates i need with at least 10 listings over time to give an average and where the price is going. above everything else, i've noticed some dates in the past several months which i hadn't noticed being sold before----i also keep track of insert numbers when they're shown. other dates have increased in graded pop and so the prices have changed over time.

also, since i began my records in 2000, there has been quite a bit more interest in the series. as a result i was able to get a couple of better dates at very good prices. but like i said before about changing pops, i have a few dates that i could never sell for what i paid. i guess things even out like that in the long run. what i have been able to do is find some nicer raw coins and get a better idea of true grade rarities/scarcities.

al h.

Russ

<< <i>Some Ikes, like the 72-P type II, will be the next 3 legged buffalo >>



I'm not sure a variety that requires the use of an electron microscope for detection will ever get that hot.

Russ, NCNE

topstuf

Will an electron microscope detect anything ..pretty.. on an Ike?

lordmarcovan

<< <i>Is the PCGS MS65 Ike Market Bombing out? >>



Who cares? If it ain't a DCAM proof, I just spend every Baldguy Buck I come across!

Rampage

<< <i>

<< <i>Some Ikes, like the 72-P type II, will be the next 3 legged buffalo >>



I'm not sure a variety that requires the use of an electron microscope for detection will ever get that hot.

Russ, NCNE >>



I could spot a type 2 from 10 feet away.

supercoin

darktone, here you go:

1972 Ike Types - History and Attribution

No microscope -- or even a loupe -- required.

Note that on that page I call it the 3-legged Buffalo of the series, as it was created with only one die. Obviously Ikes are not as popular as Buffaloes. Yet.

keets

hey Tad

good link, now i can get rid of all the other post-pages i have saved!! the pictures should also help dispel the notion that this is some type of subtle diiference in detail. i find it quite easy to weed through Ike's with a 3X6glass, only needing a cursory glance.

thanks for the diligent work.

al h.

darktone

Thanks Supercoin!

MSD61

I think if one can find a gem in any of the clad 72-P series it's a rare find. I just saw a 72-P type III over at the bay going for over 500 bucks.
Type III As far as a the term 3 legged buffalo I would have to say I mean the series of 72-P Ikes which the type II is. With only about a 100,000 of these ever being struck they are indeed a rare breed. Silver seems to be everywhere right now and I think the market is a little overrun with them.

Micheál

cladking

The Ikes greatest weakness in terms of collectibility is that it was used for
so very short a time. This makes it a small set and means that relatively few
people used it during its short life. There are not a lot of people who have
memories of it from their childhood and want to collect it because of nostalgia
or as a memento of another time. Some of these coins were saved in substan-
tial numbers in rolls and bags and none of the regular issues is scarce or rare.

But many seem to ignore their great strenghts too. They are attractive coins
even if the depiction of Ike isn't. The reverse especially is very well done. These
coins were extremely unappreciated at their time of issue by both collectors and
speculators. While there was speculation the coins were simply set aside and
ignored so it was not even noticed that many Ikes are almost universally poorly
made and poorly preserved. Since they were unappreciated the mint sets have
been allowed to be destroyed and many of the coins circulated. Even the great
varieties which are legitimate and dramatic hub and die differences recieved scant
attention until many years after production. Another of their great strenghts is
their great affordability; a complete 32 coin set can be assembled for less than
$250 in unc and proof. With a little patience a complete set assembled one coin
at a time will include several highly desirabl coins. If one chooses to buy slabbed
coins in tougher grades like MS-64 the set will still be quite affordable and the coins
will have low populations. Gems tend to be excrutiatingly tough and their popu-
lations reflect this yet prices are still much more down to Earth than comparable
older coins.

Some collectors may see populations of a few dozen and see hopelessly common,
but what if his new generation of collectors looks and sees a great series to col-
lect? And those who think that grade is greatly overblown as a criterion for acquir-
ing coins should compare a MS-60 Ike set with an MS-63 set. There is a huge spec-
trum of quality in many of the moderns and in this regard the Ikes lead the pack.

Russ

<< <i>I think if one can find a gem in any of the clad 72-P series it's a rare find. >>



I have a pile of them listed on eBay right now. I think they might be Type 2's, but my microscope is on the blink.

Russ, NCNE

segoja

Sell em to me!

pontiacinf

laws of physics?

its like the laws of the statehood proofs LOL

sinin1

thx for the info supercoin -

do you have a link for type1 and type2 1976 bicentennial IKES?

SarasotaFrank

I am using this thread to find some old uploaded photos

supercoin

The 1776-1976 Bicentennial Type 1 and Type 2 Ikes have a variety of differences, but the easiest to spot is the reverse lettering around the rims.



Type 1 on the left has wider unadorned lettering, while the Type 2 on the right has thinner more stylized lettering. Compare the R in DOLLAR in particular.

The Type 1 is essentially the 1975 Ike. All 1975 mint/proof sets have Type 1 in them, and all 1976 mint/proof sets have Type 2.

The complete list is as follows:

1976-P Type 1
1976-D Type 1
1976-S Clad Proof Type 1

1976-S Silver Proof Type 1
1976-S Silver Unc Type 1

1976-P Type 2
1976-D Type 2
1976-S Clad Proof Type 2