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1972 T2 PCGS MS66 on eBay.....Sold for $16,859
DRG
Posts: 818
I have owned this coin for a couple of years now but decided to put it up for sale. It is the KING of the Ike's and it should be interesting to see what it will bring.
James told me the POP report is currently wrong. It states the POP is #3 but it is actually #4.
This coin is good for the grade, but not great. It has a few small ticks on the neck that I find distracting. Don't get me wrong, it is a MS66 and the nicest T2 that I have seen. I think it photo'd a bit better than it really is. Since I moved I am having trouble getting accurate photo's. The lighting in my office is terrible so it depends on the time of day.
1972 Type 2 PCGS MS66 Ike on eBay.
In case any one wanted to know. The coin sold for $16,859.
James told me the POP report is currently wrong. It states the POP is #3 but it is actually #4.
This coin is good for the grade, but not great. It has a few small ticks on the neck that I find distracting. Don't get me wrong, it is a MS66 and the nicest T2 that I have seen. I think it photo'd a bit better than it really is. Since I moved I am having trouble getting accurate photo's. The lighting in my office is terrible so it depends on the time of day.
1972 Type 2 PCGS MS66 Ike on eBay.
In case any one wanted to know. The coin sold for $16,859.
(PAST) OWNER #1 SBA$ REGISTRY COLLECTOIN
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Comments
The name is LEE!
I LOVE
I remember when you bought the coin. I was bidding, but you offered $ 10,000.00, and made the deal.
$ 10,000.00 today would only pay for the holder !!!
Any bets on what it will go for?
What would a comparable Morgan sell for? A mintage of around 100,000 and TOP POP #4........A whole lot more!!!!
the 1886-O is a condition rarity, and much more difficult in MS 65 than the 1893-S.
So when do you think the Ike will bring this kind of money.....if ever?
<< <i>So when do you think the Ike will bring this kind of money.....if ever? >>
Not for at least 2 days,,,,,,,,,,,, I hope!!!!!
GrandAm
<< <i>And a PCGS price guide price of $400,000!!!!!!!!!!!!! (for the 1893 S MS65 Morgan)
So when do you think the Ike will bring this kind of money.....if ever? >>
Apples and Oranges. One is the most popular series collected and beautiful and the other is a lightly collected boring ugly series. An ike will never rival the 93-S in any way. Too even mention it is laughable.
I think they were in the PCGS top 10 of most registered sets...so, I would hardly
call them "lightly collected".
As far as calling them "boring" and "ugly"........Well, we are all entitled to our own opinions.
I happen to find them fascinating and attractive.
Brian
I LOVE
A few years ago a $10,000 Ike was laughable, now there are MANY of them. To suspect that the last large dollar coin will NEVER be collected just as all the other dollars are now collected is laughable......
They are and will continue to be collected. When my children are old enough to collect coins 1971 and 1921 will both be ancient history and just as collectable. In fact with history as our guide, it may be that the Morgans are collected like Bust dollars are now and the IKE will be the old dollar that you can still put together a complete set of.
History repeats itself, anyone that does not know this has not been paying attention.
This coin has the exact same mintage as the 1893 S Morgan and checking the populations, more of the Morgans have been found in top grade (2 MS67's). I do not believe a MS67 T2 1972 Ike will ever be graded!!
I do not see the T2 commanding the $800,000 a Top POP 1893 S does at any time. But saying that it is laughable to even compare the two does not give the T2 the recognition it deserves.
The T2 has an approx. mintage of 100,000 and only about 400 have been graded above MS60 by PCGS. This is despite the fact that the coin has been known to exist since 1972.
A much fairer comparison is to the 3 leg buffalo. The Buffalo is also a variety with an estimated mintage of 100,00. It was known about the year it was made, and has a POP of about 500 at PCGS in MS60 and above. Interesting it also has a TOP POP at MS66 of #4 (exactly the same as the T2). The MS65 3 Leg pop is #44 were the T2 is only #25.
Number wise the T2 is really VERY similar to the 3 Leg buffalo. Price wise is another story. The 3 leg is $90,000 in MS66 and $32,000 in MS65 (almost 10X the price of the T2).
Obviously the Buffalo's are a very popular series and the 3 leg has a long history, but given the fact that the 3 leg is a simple die polishing mistake (not a true variety) it is interesting to compare the two.....Just my thoughts.
I would be keeping the coin but I was offered some beautiful lake front property that I would like to retire to and need a little cash. I DO NOT recomend coins as investments, but I would make an exception for this coin. I don't think it has anywhere to go but UP.
TOP POP + LOW MINTAGE + KEY TO SERIES = $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
I agree with your statements.
In addition, the Morgans were very collectible 20 years ago ( price wise ).
However, they have become so expensive, that very few collectors can afford, or even find them at any price , in decent grades.What happens to a series when it becomes too expensive is : They are collected as short sets, and type coins, date sets, ect.
This has happened to Morgans, the same as large cents. It doesn't really matter, at least as far as price goes. The Ike dollar has the BEST POTENTIAL to increase in value, because the Morgans have allready reached their Zenith, or high value.
The ONE and ONLY thing that determines a coin's value to increase in value is CHALLENGE !! People pay $ 70,000.00 to climb Mt. Everest
because of the challenge, almost all other mountains can be scaled for no cost !! The Rolls Royce is a fine auto, but the company went bankrupt a few years ago, and was sold. They were simply too expensive, and demand collapsed.
The Morgan dollar is headed in the same direction, just like the large cent.
The name is LEE!
<< <i>The coin sold for $16,859 >>
CONGRATULATIONS David on your sale!!!!!!!!!!!!!!
I believe this is a record sale price for a business strike Ike Dollar!!!
It is only fitting that "THE KING OF IKE'S" should be the one to set this record!!!!!!!
GrandAm
I guess it is time to sell my ms67 -69 ikes,
Larry
POB 854
Temecula CA 92593
310-541-7222 office
310-710-2869 cell
www.LSRarecoins.com
Larry@LSRarecoins.com
PCGS Las Vegas June 24-26
Baltimore July 14-17
Chicago August 11-15
Put those high grade Ike's up, and the bids will be like popcorn in the microwave !!
<< <i>All I can do is shake my head. 16k for an IKE! >>
Me too. It should have brought $20K.
Russ, NCNE
<< <i>All I can do is shake my head. 16k for an IKE! I could get a real nice 16-D for that kind of money. And I would have something.[/q
]
Everyone forgets that in the 1940's the 1934-S Peace Dollar was selling for the same price as the 1922, and 1923 Peace dollars.
The 1916-D is a very collectible coin, with a mintage of 264,000.
The type # 2 Ike has a maximum mintage of only 100,00.
Futhermore, the mint has admitted that it was the most difficult coin that they ever produced, due to the hardness of the metals used.
Lastly, at some point, every coin minted was considered " modern junk " by collectors.
As far as price is concerned, the proof is in the pudding !! Ike's will continue to increase in value because of demand. Demand is created by challenge, and high grade Ike's are one of the most difficult coins to find- bar none.
The reason that the 1804 silver dollar is so expensive, is because of demand- which is created by CHALLENGE.
The ONE FACTOR that determines price, more than any other is DEMAND, and demand is created by CHALLENGE.
If you still want the 1916-D, I HAVE TWO ( 2 ) , both PCGS- MS- 64- FB. I would be willing to part with one, for the right price.
List your offer, and I will contact you.
I'm not bashing the Ike. It's just that there are millions of them and they ARE NOT RARE!
Coindog - Thanks for the offer on the 16-D. IF I had the money I would buy one of yours in a heartbeat. I would still have my 62 if I hadn't have needed the money real bad when I sold my whole set.
If I had deep pockets I could put together one heck of a set of Dimes.
Jon
There aren't millions.....you were just told there were ~100,000 in the post above yours.
They WERE used for commerce....maybe not as much as a dime, but I remember getting/using them as a kid.
Wouldn't be a bad rant if you knew what you were talking about
(yes, I am sure you know dimes, but before you rant about the Ikes, you should know what you are talking about there)
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
My point is still there and accurate. That is, out of the 100,000 ty2 72 Ikes they are still all out there. And MOST not ALL will be 64 or better. The Ikes or SBAs for that matter were not used in circulation to speak of.
And there is no comparison to this coin in rarity to the 16-D dime. You can't go to the bank and get a 16-D in 63 or better and you sure can do so with the Ikes.
And this is not a "rant", just facts!
Later, Paul.
Later, Paul.
I got one in MS62 recently so I must have one of the suckiest ones out there, right?
Now, don't get me wrong, I WANT a 1916-D merc.....but I am not going to go around and badmouth other coins just because I don't collect them. If I did that, I would be badmouthing a lot of nice coins that others like and I don't understand because it isn't my area right now.....
Hmmm....I wonder how many 1916-D dimes have been graded, what the attrition amount is expected to be, and then, how many 1972 ty2 Ikes there are, and how many are still expected to be found....
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
I can see why it brings that kind of money though. They are tougher than most think in high grade. I have piles of these but I would be very lucky to get anything ms62 or better. They have so many hits and dings on them. So while I would take the dime, to each his own. Maybe one day I will collect Ikes lol!
Zach
Edited to add congrats on the sale DRG
Check my ebay BIN or Make Offers!!
I personally think that any series is ok to collect. That is what this hobby is about, collecting.
However to clear the air about the 1972-P- Type # 2 : I t was created using a proof die. about this time the mint was in the process of changing the steel used for the dies, using a harder grade of steel.
If the old steel was used, then the die life was approx. 60,000 strikes. If the new steel was employed then die life was about 100,000 coins.
In addition Ikes did circulate ( very heavy circulation ) They were used in the slot machines in Las vegas, and off- shore island casinos.
Their circulation was much greater than the average coin that you find in your pocket. They were used over, and over in the casinos.
Of course, this does not apply to the proof coins, only business strikes. Proof coins are still very affordable, while business strikes can be downright expensive !!
And I am not badmouthing the Ikes. I personally don't like them, but will not put anyone down for collecting them. Just don't call them rare when they are not. You can say a certain date in 67 is rare, but there are more of them somewhere. And the same coin can be found in a lower grade for next to nothing. It's the grade that is rare not the coin.
You ask about the 16-D. Out of the 260,000 minted there are a little over 1,300 in PCGS and half of those are vf or less. You can not find these at the banks any more. I doubt if you will find any silver in circ anymore. A comparable 16-D in price to the ty2 72 would be in 64. That makes my head spin. Now the 62 you found in 16-D money would be worth around $16,000. They are worth hundreds in ag. And that is my whole point. Dropping down a few grades and the Ike is worth face, but the 16-D is rare all the way down to ag.
Paul - If the banks don't have them......where are all the millions and millions of them. Did the gov. recall them when the SBA came out? They don't circulate either! I have never gotten one of those in change either. And on this subject. People will NEVER use a dollar coin as long as the dollar bill is still available!!!! So, if they want us to use the dollar coins why are they still making the dollar bill?????
Also, how long has it been since you have gotten a half dollar in change. I can't remember the last time I did. There should be lots of Kennedy's out there for collectors too!! I have a roll of 70-D's I use for a paper weight to remind me of the WORST investment I ever made. I thought they were rare. There are a million or so of them also, and they are all still out there.
Nuff said. Moderns are NOT rare!!
<< <i>That is, out of the 100,000 ty2 72 Ikes they are still all out there. >>
Try to find one. Report back when you do.
Russ, NCNE
<<and the only marks they will have is from being moved around in the bags>>
Actually......a lot of the 72-P Type 2's were struck with a greasy die that leaves the fields between
K9-K12 on the obverse very lousy (as well as very weak L and I)
ANY MS72-P Type 2 IS rare....just ask Sego how many he has found in years of searching!
You may not think so.....that is your opinion.......
You say they can be found,.....just TRY it!
You also say MS66 Clad Ikes aren't rare.
are more familiar with.
Brian
I LOVE
<< <i>Russ, I said they are out there. I didn't say they would be easy to find. That's the whole point, there too many million of them to go thru >>
Why do you keep tossing out total mintage numbers of millions when this thread is about a specific variety that has a total of about 100,000? Try to stay on track here.
There is a reason that this Ike brought the money it did, and unless you've spent significant time hunting them you will NEVER understand that reason. I don't even like Ikes, and I hunt the Type 2 at every show and every shop I visit. I've never even found a low grade example. At the values these coins bring, you can bet your ass that there are thousands of others also searching. And yet, so very few have been graded at this level. Why do you think that is?
Russ, NCNE
What Gandyjai, COINDOG & JC said
GrandAm
But I also admit I know nothing of the series. Don't know type 1 from type 21, and don't know a pegleg from a bowleg.
I have never said that Ikes in 66 or 67 or even 65 are common. But that all of the Ikes are out there in lower grades in big numbers!
I will retract my statement about them not being used. I forgot about Vegas using them. That would have turned a lot of uncs into circ coins. But I have NEVER got one in change yet.
Jon
<< <i>Boy o' Boy, Russ you are not paying attention either. I didn't say that there are millions of the ty2 72!!! >>
I pay attention quite well. Let's recap:
I said:
<< <i><< That is, out of the 100,000 ty2 72 Ikes they are still all out there. >>
Try to find one. Report back when you do. >>
To which you directly responded with:
<< <i>Russ, I said they are out there. I didn't say they would be easy to find. That's the whole point, there too many million of them to go thru and I don't care so I don't look. >>
In the "paying attention" department you should probably start by doing so with your own responses.
Russ, NCNE
<< <i>
<< <i>Boy o' Boy, Russ you are not paying attention either. I didn't say that there are millions of the ty2 72!!! >>
I pay attention quite well. Let's recap:
I said:
<< <i><< That is, out of the 100,000 ty2 72 Ikes they are still all out there. >>
Try to find one. Report back when you do. >>
To which you directly responded with:
<< <i>Russ, I said they are out there. I didn't say they would be easy to find. That's the whole point, there too many million of them to go thru and I don't care so I don't look. >>
In the "paying attention" department you should probably start by doing so with your own responses.
Russ, NCNE >>
Don't forget in his original post:
And 99% of them are probably 63 or better. THEY WERE NEVER USED IN CIRCULATION!!!!!!!
All this in a post about the '72t2 Ikes and then using hyperbole to make a case....should have just stated "I would rather have a 1916-d merc" (I would too, btw, just haven't found one I like at a price I like).
So, Jon, please don't say people aren't paying attention to your posts....the reason for our replies is that we are paying attention.
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
And I did retract the not used and Vegas thing.
You guys are starting to annoy me!
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
<< <i>Let's not compare any IKE to the 16-D dime. There may not be that many above 65 right now, but remember that however many there were minted, there are still that many out there. And 99% of them are probably 63 or better. THEY WERE NEVER USED IN CIRCULATION!!!!!!! It's been 35 years since the IKE came out and I have not got one in change yet! Why? Because they are all still at banks in bags or rolls somewhere. They sure aren't out in circulation! So I'm sure there are still some nice Ikes in all years and mints somewhere. I've looked and none of the sets in the registry use coins lower than 65. Everyone wants 66 or better and they are hard to find, so they pay stupid prices for these coins to get higher in the ratings. This just keeps driving the price up and up. But someday whenever they get tired of these coins there will not be a market for these in 66 at stupid money when you can get a 64 for little or nothing. Where as the 16-D has a limited number of coins say 63 or better the rest are low circs and no new ones will be found.
I'm not bashing the Ike. It's just that there are millions of them and they ARE NOT RARE!
Coindog - Thanks for the offer on the 16-D. IF I had the money I would buy one of yours in a heartbeat. I would still have my 62 if I hadn't have needed the money real bad when I sold my whole set.
If I had deep pockets I could put together one heck of a set of Dimes.
Jon >>
Actually they made far more mercs than Ikes. They made about five mercs for each Ike that
was produced. Just as it doesn't how many '44-D's were made to the price of the '16-D, it
doesn't matter how many bicentennial coins were made to the type 2.
The T2 did circulate very heavily and there are many that are missing in action. Much of the
mintage was used in the Caribbean casinos and they were taken home by patrons from all
over the world. Many are probably permanently destroyed or unlikely to find their way home
for many years. They are so widely dispersed that there is mere conjecture about what hap-
pened to the bulk of them. They must have been returned to the Miami FED at some point
but they no longer have these in stock and they don't turn up in that area any more than in
other areas.
I've always wondered where all the '16-D's are but it seems likely that there are much larger
numbers still around than the pops would indicate. Of course it's mere speculation in both cases.
GI's with change in their pockets being lost at sea, and on battlefields all over Europe.
It boggles the mind to think of how many coins were carried off to war. And never to return, along with so many good men and women.
It is a cool rare coin that some people apprecite.
Non collectors think we are all nuts!!!!!!!!!!!!!!!!
I really think it is time we start realizing what we do and do not know.
The Modern bashers do not know Moderns and usually admit they don't care. Why they bash what they don't know.....I don't understand.
Yes, the amount of money this coin sold for can buy a lot of other things.....I am buying some land, not another coin.
Can't we all just get along?
ANY IKE in a 66 is really close to being rare!
Regardless of how many were produced, the quality of the planchets was absolutely terrible! The quality of the strike was questionable especially in 71 and 72. 74 improved quite a bit but only at the Denver facility, Philadelphia still sucked which is why a 74 P in 66 will set you back a few bucks. s a matter of fact, Philadelphia never did get their act together with regard to the Ike as high grade Philly's are few and far between. The sheer size of the coins and the metal used to produce them made MS67 IKEs a very rare commodity whereas MS67 Morgans can be had quite easily in some of the common coins. Silver is just a little bit softer.
Are you aware that there are no MS68 Copper Nickel Clad IKEs at all. No where. They just do not exist! How's that for rare?
As far as finding bags and rolls out there to go through, I have just recently seen two OBW IKE rolls on Ebay. These are the only two I have ever seen in my limited two year experience. Most of the rolls are either hand wrapped or tubed. You just don't see OBW IKE rolls anymore. Try going to your local bank, credit union, or whatever and getting a roll of IKEs. Better yet, just try to get $20 worth. You'll soon find out why the Ike collectors appreciate their high grade (read MS66) IKEs.
Now thats the reality. You may think that there are millions of high grade IKEs still out there but just because you think that, doesn't make it so.
The name is LEE!
I think I finally figured it out. It's rarity vs condition rarity.
When I say Ikes are not rare, I mean that they can all be found in cicr if grade doesn't matter. I know that any of them would be hard to get in 66 or better. They are probably hard in 65 or even 64, but they are ALL out there in some grade. Do we agree here?
It's like the 1920-S Mercury I had in 66. It's a pop1 none higher. Is it rare? Yes, in that condition. But the 1920-S is not a rare coin. Any set you buy in those Whitman blue books where the coins are all ag to good will have a 20-s in some grade.
So, when I say Ikes are not rare, this is what I mean.
Rare is a 1876-CC 20 center. Mintage of 20.
Rare is a 1874-CC dime in any grade. Probably 20-30 still around.
And so on.
Jon