what about ike?
ahooka454
Posts: 3,466 ✭
i start this topic because i like ike.
the ike $ is so underrated its insane.
yes high grade pieces are pricey, but what happened to all those ikes?
i am an avid ike collector and know a good amount about them, but would like to hear others thoughts on them...
the ike $ is so underrated its insane.
yes high grade pieces are pricey, but what happened to all those ikes?
i am an avid ike collector and know a good amount about them, but would like to hear others thoughts on them...
0
Comments
Shhhhh! I want to get more before more people find out about them!
I prefer the errors and varieties myself, but also enjoy finding a 71 or 72-P in 65 or other
clads in 66. I'm still searching for my ultimate goal.....a clad in PCGS 67!
Brian
I Love
Let's just say I (almost) like Ike.
JMS Coins
I Like Ike.
I knew it would happen.
Once collectors begin to pick up the stories of this interesting series and especially if all the varieties and metals begin to make sense, the series will pick up steam.
Be sure to pick up the January Numismatist. Rob
Questions about Ikes? Go to The IKE GROUP WEB SITE
people once hated the big bulky morgan and peace but look at themm now.
no one realizes all the ikes went to vegas, foxwoods, ac, and other damaging places where they were lost forever. i think all are pretty but i think the wise will prevail with these huge heavy dollars.
its nice to goto the local bank and get a half roll or more sometimes. i really like getting the s.b.a. wide rim for face. a few hundred will do...thank you banks of ohio.
Well segoja, gandyjai and ModernDollarNut have all the good ones tucked away in secret vaults located in Missouri!
Actually, I don't have a clue. There could be bags and bags of them secreted away in some obscure vault somewhere or there might not be.
I remember when SanctionII got a $500 box of them from his local bank! All he did was ask!
I think it would be awesome to come across a couple of sealed $1,000 bags at face!
As far as the coin being underrated! Absolutely! It gets zero respect! The Greysheet doesn't list it with the other dollar coins but puts it off in its own little column like it was actually different!
On the positive side though, this just means that folks aren't really looking at them which means that the variety field on these is WIDE OPEN! The latest variety to be "discovered" was the Reverse Die Variety 006 (RDV-006). This was just "noticed" in 1999. 28 years after it had been put into circulation! Can't help but wonder how many other finds are just waiting to be "discovered"?
The name is LEE!
just completed 3d tour to Iraq and retired after 28+ years in the US Army
<< <i>
That reminds me.... I have an old "I Like IKE" campaign button somewhere.....
San Diego, CA
<< <i>I like Ikes too, I think they have actually dropped in value over the last few years. >>
Much to my chagrin!
The name is LEE!
Chagrin is used to explain strong feelings of embarrassment or displeasure. See annoyance. In French, it means sorrow.
San Diego, CA
<< <i>Once collectors begin to pick up the stories of this interesting series and especially if all the varieties and metals begin to make sense, the series will pick up steam. >>
that's a couple of BIG "ifs" there, i think.
short series = limited long-term mass interest.
varieties =
60 years into this hobby and I'm still working on my Lincoln set!
entirely modern ('65-'98) set and people assume every date was set aside
in huge quantity. This probably isn't too far from the truth but there's been
a lot of water under the bridge in the last 30 years.
I remember hearing stories about the new coins and the massive hoarding
in the general media back when these came out in 1971. People were going
to the bank to buy them by the bag as an investment. There wasn't a lot of
activity with buying and selling in the hobby press but there was enough you
could tell it was going on. There was more widespread interest in the 40%
coins but the hoarding was going on in the clads. This continued all through
the Ike run to a lesser extent in most cases.
But reality caught up with most of these erstwhile speculators; a thousand
dollars was a lot of money tied up in a non-performing asset. Demand was
sparse even though it was very widespread. You couldn't get much of a pre-
mium for much of any clad Ike in 1978. There were quite a few collectors com-
pared to other moderns but the market for high grades didn't exist at all so
far as I could tell. It wasn't long though before this market started going. In
'79 there were most asuredly people actively buying and selling the gems. Ot-
hers were building sets to sell retail in magazines and coin shops.
Another factor causing people to dissipate their bags of these was quality. The
horror tories of opening these bags and finding coins that appeared no better
than VF because they had been "pre-circulated" at the mint to remove high rims
were rampant. Even fully original coins could be just horrid. Dates like the '71-P
just come awful and having a bag of some dates just assured you had 1000 ve-
ry ugly coins. These ugly coins have always been a drag on the modern markets.
Ironically there are some coins that are virtually impossible to locate even by the
roll but they are so ugly that the roll has no significant premium.
Over the years most of these bags have been busted up and either returned to
the banking system or sold on the market. There are almost certainly a few more
bags even though they are rarely seen. We're probably talking numbers between
perhaps 25 and 150 of each date (a few more bicentennial), but many of these will
not contain a single nice example (not even MS-63).
Mint sets won't be much of a savior for these since attrition on these dates is stag-
gering. A significant percentage of the few remaining sets has been checked for nice
Ikes.
This leaves collections for the main part but these don't really appear often. Most
of those seen are the sort put together for mass sales and will rarely contain very
much of interest. There simply aren't a lot of old time Ike collections because there
simply weren't many old time Ike collectors. Even when a choice collection does hit
the market, until recently the dealer was likely to just strip all the silver and "money"
coins and return the rest to the bank; gems and all.
These coins have been a lot of fun to collect for a long time. They are the last of the
first moderns that I started collecting but that was because I didn't know there were
any gems at all until 1978. Despite looking at thousand of the coins I never saw any-
thing even close to gem so I never paid them much attention. I've found nice choice
gems of every date now except the '71. My '72-D, '73-D, and '78 can probably be im-
proved without extreme cost.
It's true that many of these coins are simply gone forever. The FED doesn't keep such
things in storage, normally. The coins have been dispersed all over the world and usu-
ally after being severely abused and worn. They are taken home as souvenirs from cas-
inos or when recieved in change. The coins are in sock drawers and change jars every-
where. Many people keep a little dish of coins which are rarely seen and in addition to
the dateless buff and a few worn Kennedys there will always be a beat up Ike in it too.
Everytime there's a fire or flood more of these are lost. They inadvertantly get knocked
in the garbage or are stolen in a breakin. People move and often have a moving sale
where "everything must go".
The Ikes have just been too overlooked and too cheap for too long. Things that are tak-
en for granted normally don't survive. Ikes are very taken for granted.
I attended Eisenhower College in Seneca Falls, and when Mamie Dowd Eisenhower visited the place once, we had "I Like Mamie" buttons made up for the fans.
Congress donated 9 million dollars from the sale of proof silver Ikes to my alma mater before it closed in 1982.
The name is LEE!
<< <i>
<< <i>Once collectors begin to pick up the stories of this interesting series and especially if all the varieties and metals begin to make sense, the series will pick up steam. >>
that's a couple of BIG "ifs" there, i think.
short series = limited long-term mass interest.
varieties =
Droopyd, give the Ike Group another two years. You may be exactly correct (certainly other short series are not wildly popular) but the Ike has a lot going for it and we are just beginning to bring out its rich stories.
The Ike is also a microcosm of all Moderns, almost the progenitor, and as a complete series can be studied as an entity with spin-offs that will link it to all modern coins. The clashed Ikes that permeate the series, for example, are a wonderful lab to study clashes and set up ways to understand, attribute and grade in ways that can be generalized to all moderns.
And they are just so darn BIG..... Rob
Questions about Ikes? Go to The IKE GROUP WEB SITE
i've never confused an ike buck with a quarter dollar......................NEVER!
Collector of Early 20th Century U.S. Coinage.
ANA Member R-3147111
I have neither the time nor the inclination to explain myself to a man who rises and sleeps under the blanket of the very freedom I provide, then question the manner in which I provide it. I prefer you said thank you, and went on your way, Otherwise, I suggest you pick up a weapon, and stand to post. Either way, I don't give a damn what you think you are entitled to!
first no one liked the big morgan at the time. now look at all the vam numbers and the stupid prices people pay.
now look at the true scarcity of high end ikes?
as a collector there is nothing but upside.
when i buy a doubled die or tripled die for the price of melt, noone can tell me otherwise.
all advice is great...
Look at the auctions for 1972 P type 2 and 1971 D FEP (RDV-006).
There is an interesting corresponding scenario for clad quarters. Two different proof only reverses were invented for 1968 and these were both used on a minority of 1969 D and 1970 D circulation strikes. Yet, in comparision to the dollars, they get no respect at all.
<< <i>I make Mamie's Million dollar Fudge every year for christmas. Yum! >>
i'll pm you with my address