$4,800.00 for a PCGS MS66 1976-P typeI. Yeah, baby!

braddick · April 25, 2002 5:18AM

I just received Jim Barlow's latest pricelist. Sure enough, on the front cover- right next to an offering for a 1971-P in PCGS MS66 is a PCGS MS66 1976 type I Ike. Price tag: $4,800.00.
Opinions?

shirohniichan · April 25, 2002 5:26AM

I just ordered a book entitled Tulipomania. I'll let you know how it turns out.

keithdagen · April 25, 2002 5:30AM

Let's see, key to the set, low population, hot series. Too much for my blood, but I bet the coin will not last long in his inventory.

Keith

braddick · April 25, 2002 5:32AM

Anyone have the Pop handy? And, the underpop? Also, for most sets, the "D" works just fine and it's less than 10% the cost (even in 66) than the "P" mint.
Shiroh- May I borrow that read when you're done?!

keithdagen · April 25, 2002 5:38AM

76-P T1 330 in 65, 16 in 66
76-D T1 374 in 65, 108 in 66, and 2 in 67

66 for the D mint should run about 5% of that price, unless it is really high end.

Shiroh, I have a book for you to borrow -- How to Win Friends And Influence People by Dale Carnegie.

Keith

braddick · April 25, 2002 5:41AM

Keith- $240.00 for the "D" in 66?? I just paid $350.00 for mine and feel, after searching for the last eight months, that was a pretty good deal.

shirohniichan · April 25, 2002 5:52AM

While we're talking about books, does anyone have a copy of David Hall's book on making money in rare coins? I think it was published in 1988 or 1989.

keithdagen · April 25, 2002 5:54AM

Guess that they have gone up a bit in the last couple of months. I think I got mine right at $200 on Teletrade in September or October.

Keith

Bcsican · April 25, 2002 6:23AM

I still get stunned that people are paying these high prices for Ikes. Its the reason I stayed out of this series. I like the best and I knew the prices were going up it would have set me back some big bucks to get a set together. I just looked at the pop figures, and for the same pop in other series its close to ten times asking price for other modern coins. And that`s only for one year. Personally I think its over priced. But someone will come uo to the plate and buy it.....

wondercoin · April 25, 2002 6:32AM

Pat: IMHO, the coin is around a $3000 coin tops for an exceptional MS66 example. Having not seen the coin offered for sale, I can not comment on whether the $4800 price tag is justified, however. What if the coin was really a "shot MS67" coin? It could then be worth every penny of the $4800 price tag - right? But, as an average MS66 (which this coin may or may not be), obviously that price tag is shocking to me.

But, the real test with any of these coins is the true "buy/sell" spread. If the spread was hypothetically around $2500 buy / $5000 sell, that speaks volumes to me

Wondercoin

Typetone · April 25, 2002 6:33AM

I bought my 76D Type 1 in MS66 raw from a local dealer. It was listed at $5, but he wouldn't let me pay full price and insisted on giving me a $1 discount. So, I bought it for $4 and paid an extra $10 in grading fees plus shipping. A 76P Type 1 in MS66 for $4,500. Sounds high, but try to find one somewhere else.

Greg S.

supercoin · April 25, 2002 7:16AM

the real test with any of these coins is the true "buy/sell" spread

Do you have a good view from that glass house?

wondercoin · April 25, 2002 8:09AM

"Do you have a good view from that glass house"

Tad: Only thing I see is that your kid's college fund is doing quite well with all those sales of those toned beauties and Goodacres. Sure I'm jealous

Wondercoin.

segoja · April 25, 2002 8:19AM

I'll always make a buy/sell spread on a s/s basis. You guys can offer me any Ike you like as long as it is high grade.

The 76-P is gone, sold from Jim's list. Not sure about the 71-P.

The 76-D Type I is in the $350-450 range for a decent piece. One recently sold on e-bay for under, but it looked rough.

The prices from last Sept/Oct are history in this series, at least for know.

IlikeIke · April 25, 2002 8:22AM

I got Jim's flyer today and almost choked as well! But look at the 72 & 74 in PR70 DCAM on Heritage.
as of 5:30CDT on day before floor auction they are $4700+ and 3800- respectively.
Low Pop - Hot Series....

Tom

supercoin · April 25, 2002 8:22AM

Mitch, I guess I missed where you posted your buy/sell spread for MS69 quarters -- or, even just a sell price -- my bad.

Obviously any thinly-traded expensive coin is going to have a much higher buy/sell spread than a common lower-priced coin. If you're selling such a coin, your best bet is probably to inquire about selling on commission, or to sell via an auction.

BTW, I don't know anything about this coin or its circumstances, just talking generalities.

IrishMike · April 25, 2002 8:57AM

Guess I will rummage through my 1971 mint sets.

supercoin · April 25, 2002 9:04AM

Just a hunch, but that may prove unproductive in finding high-grade Ikes.

braddick · April 25, 2002 9:13AM

Jim Barlow is as honest as the day is long with impeccable ethics, no doubt. But, even he- knowing Ikes like no one else- would have either resubmitted this one back himself if it was a shot 67 or would have included a statement in the coin's description giving an indication it was a PQ piece. Instead, being the honest Dealer he is, he simply stated it was 'solid for the grade'.

And when I say Jim knows Ikes- remember he's the one that has made four of the 76-D's in MS67.

keithdagen · April 25, 2002 9:22AM

Agree with that assessment. Have a 76-D Type 2 that I paid more than I did for the Type 1 I have because Jim honestly believes that one day, PCGS will let it reside in a 67 holder instead of the 66. Even if it doesn't, it is still better than a half dozen examples of the date that I have owned.

Keith

cladking · April 25, 2002 10:34AM

I haven't seen a statistically significant sample but it looks like the incidence of MS-66 type I Ikes in mint sets is about .08%. Does anyone know if this coin appears in bags? Or am I asking this question 25 years too late?

supercoin · April 25, 2002 10:39AM

Yes, there were quite a few bags saved actually. Probably due to it being a new bicentennial coin as well as publicity regarding its low-mintage as compared to the Type 2.

Not that it makes much difference for finding true MS66 coins I'm afraid.

segoja · April 25, 2002 11:57AM

Good Luck finding high grade 71-P Ikes in Mint Sets. Guess I'd pay good money for a 71 mint set with an Ike in it period.

How many bags of Ikes have you guys looked through??? I've looked through two, both 74-D's. Not one coin in the whole lot would grade MS65 by todays standards, and that was back in 1986 that I looked through them. My guess is that they've been moved around a bunch since then, putting even more marks on them.

the good coins come from rolls put up back in the early 70's, when no one cared. Even today, dealers are reluctant to carry them to shows because they are too heavy. Most don'r realize how expensive the high grade coins have become, or they would look.

James

jcping · April 25, 2002 2:16PM

Do you think the set registry weight affect the price?

Think about this. Would you pay $$$$$ (last transaction that I know is $6900) for 1977D MS67 (pop 3 coin) to move WGA by 5 units or pay $$$ for 1976-P Type one MS66 (pop 16 "should be 15 or less") to move WGA by 8 units.

cladking · April 25, 2002 10:58PM

I've never opened a bag, but I've seen a few. I've seen a few rolls several times that the owner said were the best from a bag. Seen original rolls countless times, but have never seen a nice gem that hadn't been in a mint set. -that I know of. There are gems made for circulation in other denominations but apparently not Ikes. Keep in mind though that I don't know Ikes real well. Most of the bag Ikes I've seen
would be more accurately refered to as MS-20's since they look like VF's.

supercoin · April 26, 2002 3:33AM

Well, of course none of the gem 1971 and 1972 Ikes came from mint sets, and gems in easier dates can be found in bags more easily than those, but you're right it's a frustrating experience in general.

I went through an entire bag of 1971 once and the best I did was 3 or 4 marginal MS64 coins. Another time I bought some rolls from freshly opened bags of a guy who had put away 3 original bags of 1976 Ty1 himself. After I gone through about a bag's worth he found out what I was doing and decided to search them all himself instead to "cash in". Probably did me a favor, as I had only found 1 marginal MS65 to that point. Don't know how he did, but the MS66 pop did not increase.

As segoja mentioned, the best source for "bag" coins is to find rolls that were put away back when they were first released. If you find an unopened bag now, it's probably best left that way -- most were not stored or transported with care and the coins are terrible.

But if you have a choice (1973 or later) mint sets are by far the better bet. My guess is that most of the remaining undiscovered super-gem Ikes are to be found lying in a mint set tucked away in someone's basement. Probably some guy will buy it at a rummage sale for $10.

jcping · April 26, 2002 5:32AM

Long time ago, I was told that bags of 71-P and 72-P Ikes went to Bahama casinos. The coins were believed to be ugly and no one wants to use them in the US. Do I miss anything?

supercoin · April 26, 2002 5:59AM

Yep, millions did go to both US and offshore casinos, never again to regain whatever vestigal gemness they once had.

Casinos have since figured out that it's a lot more profitable to mint their own "dollars" rather than having millions of real dollars sit idle in their slot machines. And if the ocassional tourist keeps them as souvenirs, so much the better.

cacheman · April 28, 2002 3:26AM

What's the difference between a typeI and a type II Ike? I just found about 30 (71, 72, bi-centennials)of these in my parents stuff. No proofs that I'm aware of but AU/BU quality with lots of lustre. Please let me know. CM

keithdagen · April 28, 2002 4:07AM

Type 1 and Type 2 have different lettering styles on the reverse. I have some really big pics of each of these in my Type set that is linked below. The styles are especially noticable on the United States of America portion.

Keith

jcping · April 28, 2002 5:18AM

> I just found about 30 (71, 72, bi-centennials)of these in my parents stuff.

Mmmmm..... 71, 72 bi-centennials ..... that must be a great found. The only 30 in the world

braddick · April 28, 2002 5:21AM

71 and 72 bicentennials? Cool. There's an oddity!

cacheman · April 28, 2002 7:34AM

Cute......1971's, 1972's, and bi-centennials. Next time I'll draw a picture for you. Thanks for the help Keith, at least you can read. CM

khayse · April 28, 2002 12:19PM

> I just received Jim Barlow's latest pricelist. Sure enough, on the front cover-
> right next to an offering for a 1971-P in PCGS MS66 is a PCGS MS66 1976 type I Ike.
> Price tag: $4,800.00. Opinions?

Barlow's latest pricelist?!? I didn't get one. Man, what'd I do
to fall off "the list".

The price sounds high. I would expect it to be closer to the price
of a 71-P. I was wondering if the pending weighting system would
raise the market price of a 71-P or lower the price of a 76-P T1.
An of course on a point/price ratio I would rather buy the 72-P
(if the 76-P costs 4800).

-KHayse

$4,800.00 for a PCGS MS66 1976-P typeI. Yeah, baby!

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