1971-P MS 66 IKES Where Are They & What Are They Worth???

segoja

Like to hear some information on this date.

Using registry records there are only 5 (maybe less) of the 15 graded accounted for.

They are as follows:

Dennis 1
Greg 1
Luther Ottaway 1 (Has this set been dispersed? and could we be double counting here as well??)
Greg's Dad 1
Robert Lockey 1
Keith Unknown Do you have one in 66??

Does anyone know where more are???

As to value. Love to hear some thoughts:

The recent 72-P in 66 that sold, I think actaually sold for less than Dennis mentioned in the 72-P thread. Not much less but enough that it is worth mentioning. $5400-$5800. The 72-P has 6 fewer coins than the 71-P in 66.

First lets look at the coin itself. We know that most (if not all) of the 72-P's in 66 are either Type 2 or Type 3. These are higher relief and come with much better luster, giving the overall coin much more eye appeal than the 1971-P's. If you look at other series, this accounts for a major difference in price even with similar rarities. Look at the mid 90's "O" mint Morgans. So my assumption is that even if Pop's were identical the 1971 would bring less.

We know that pop's are not identical. One is 67% higher than the other, even though the numbers are low for them all, but what does this do for value?

Let's look at some slightly higher pop coins and try to draw some references:

76-D Type I in 66 pop roughly 90 value $400-500

73 and 74-P both in 66 roughly pop of 50 each value $800-900 Loss of 40 coins, value goes up 50%

76-S in 68 pop 55+ value $800-900, higher pop same value, but more pressure on price from type set collectors. They need this coin.

72-P in 66 pop 9 Call them worth $5500 That's more than a BU 1895-O was worth a few years ago, and the pop is 85+ in BU or 10x that of the IKE. Are they rally worth that.

71-P in 66 pop 15 is $2000 too low? is $3500 too high??? Love to hear your guys thoughts. As usual, the grading variances/strike and luster will play a huge role in value. Just made it's may be worth much less.

The PCGS price guide seem to be way off on the lower than pop 20 coins in every case. I'd gladly pay the price guide price for any one of the pop 20 or lower coins, except maybe the 76-D Type 2. Is the relationship even correct. $1800 for the 72-P in 66, $1500 for the 71-P in 66, and $1175 for the 76-P Type I in 66, even though pop is the same as the 71 and early on this was the tough date, even toughter than the 72-P.

Better yet, love to buy one or two 1971-P's in 66. Any offers???

fantasiize

Here are my thoughts (and I am actually trying to score a MS66 as my current one is a MS64 since I have been negligent on this date/MM, I think I am close to one).

First, I think an MS66 1971p is absolutely less than a MS66 1972p (just as you mention, given the numbers and potential eye appeal differences).

I actually passed up a 1976D T1 for about $300 because I did not like it, but agree that they SHOULD be around $400 for true MS66s.

73p & 74p in MS66 at $800 looks reasonable.

76s in MS68 should be at about $1,000, you gave 2 good reasons another one could be all of the folks that bought the 3 piece 1976 silvers as commemoratives/momentos for the bicentennial. Therefore, in the long run, I see this one going down when it crosses the psychological 100 pop

72p in MS66, given the low pop is still in inelastic demand price will remain hot while pop remains low. I think $4,500 to $5,000 is a good level there. Perhaps pop 10 is the emotional number there and at 11, you may see them dip a little.

Now, to the purpose of your post, the 71p in MS66. With 5 very serious Ike collectors with healthy affordability, about 5 to 10 other very serious Ike collectors with a little less healthy afordability (I am in that group by the way) and 15 to 20 serious Ike collectors once inelastic demand levels loosen, gives us a nice number of 25 to 35 that would love to own one (or already do). I think from my perspective, $2,000 seems low and $3,500 seems high. I think over $3,000 would put me on the bench. So, $2,500 to $3,000 depending on the luster, appeal and demand seems like a fair price level.

For what it is worth, my price levels, for sight unseen and seen with my personal concurrence on the grade (mid level in the grade):
DATE/MM/Grade Unseen Seen/concur with grade
1971p in MS66 $2,000 $2,500 to $2,750
1972p in MS66 $3,500 $3,750 to $4,000
1973p in MS66 $750 $ 900 to $1,100
1974p in MS66 $800 $1,000 to $1,200
1976d T1 MS66 $225 $ 325 to $ 375 (I believe we will see > than pop 100 in this date/MM very soon)
1976s in MS68 $850 $ 900 to $1,000

braddick

Last 1976-D type I Ike on Teletrade- just last week, mind you- went for $675.00 plus the juice. You'll need to adjust the pricing structure on this one a bit.

fantasiize

The last 3 1976d T1's on eBay sold for :
$233 3/11/01
$500 11/16/01
$225 12/??/01

fantasiize

James,

BTW, don't know if this helps, but here are how many Ikes have increased on the pop reports since Oct 1999 (in % points, using Feb 2002 as the baseline) for the dates/MM/grades you mentioned in your initial message:

1971p 20% (added 3 new ones since 10/99)
1972p 22% (added 2 new ones since 10/99)
1973p 62% (more than 2.5 times increase since 10/99)
1974p 51% (more than doubled since 10/99)
1976d T1 43% (almost doubled since 10/99)
1976s 69% (has more than tripled since 10/99)

So, it looks like based on percentage, the 1971p had the least amount of updates in the dates/MM/grades you have mentioned.