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Dumb question about Ike dollars
Stork
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I'm getting over a stomach bug and just too tired to do any real research...but my husband just called from the local bank. Someone just turned in about 200 Ike dollars. Other than the cool factor in spending them, is there any real value in them above face. He's pretty sure they're your basic circulated types, though he did already grab a dozen including bicentennials.
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No real value to a dealer that I know of. Some dealers might pay $1.10 or $1.15 for circs if they have a BM store and lots of space. I spend them.
Kind regards,
George
Thanks, kind of figured that but had to ask. I love spending things like this.
I get them from friends in the coin business and spend them as tip money. You cannot lose by buying themm all at face value and having fun with them!
He made it home (with some bland food for my stomach recovery) and gave me 10. 1974s and Bicentennials and look to be decent AUs. Will be spending them
. Once I recover.
Have him buy them at face value! Never can tell what they may contain. Never mind, I see you posted the dates.
You can get $120-125 per hundred.
That's the local rate from the guy around here who buys them.
I hope you feel better,
You may want to get the batch in the hopes that there's possibly some Morgan or Peace dollars in there!
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I ordered thousands if Ikes in $1000 bags from my bank... never found a Morgan or Peace $ but I did find 2 ASEs and a handful of silver Ikes.
I suppose the best finds were dozens of AU/BU Ike varieties. Still have them... no idea if they are worth getting graded.
I always buy them all. I'ver found about a dozen Morgans and Peace dollars and the same with the 40% Ikes plus once got a nice clipped Ike. You never know! Spending them is always a lot of fun. Drop five of them on the bar for a PBR and it gets a smile or two.
No real downside to buying them at face value but things to look for , the type one 76's especially the P mint are something to put aside plus 1973's .
Mine cut me off as well. I don't know why because most folks really like them.
The name is LEE!
No I just stopped. It was a lot of work to make a small amount of money. I would sell the UNCs on Ebay as rolls for $40 to $60. Out of $1000 in Ikes, approximate 50% were UNC and 50% were XF to AU. Those sold for $25-$30 a roll or $75 for a bag of $50. Shipping was very expensive. When you add in the cost for MS70, canvas bag costs, Ebay fees and free shipping you end up with a 10-15% profit for a few days work. Which isnt bad but it wasnt enough to make it really worthwhile.
There probably a couple of MS66 coins I could have sent it but it didnt.
Anyone want to buy the Ike varieties let me know... lol
I also use them for tips or I get a cup of coffee at McDonald's and watch the employees chatter........cheap entertainment.
“In matters of style, swim with the current; in matters of principle, stand like a rock." - Thomas Jefferson
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we buy across the counter at $1.05 and sell at $1.20. there are a few guys who come in and use them as tips. just last week we counted/bagged 1,000 coins that we'll deliver after the New Year, so there is a small market for them.
we used to pay $1.02 for SBA's but that market is DOA right now so we pay face, pick out the WR's and take them to the bank.
Well, I fell asleep, so missed the banking hours. Maybe I'll get there tomorrow to buy the rest. Turns out hubby bought 40 of them already. Can't lose money and it might be fun!
For you guys who used to get them at the bank, when did they shut you off? I am just curious as apparently the Fed listed them as an available coin option on their order forms up until a few years ago.
Feel better. Ike’s are cool. Nice to use when buying or as tip. Makes others look them up maybe get them collecting. Can I post some Ike’s since we are on the subject?
Best place to buy !
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No. It would be inappropriate to post photos of Ikes on a thread like this.
Best place to buy !
Bronze Associate member
I stopped doing it about 3 years ago so the Fed cut off may have happened after that. From my understanding only certain banks in certain areas could still order them. Mostly on the west coast.
Interesting. I wonder if they gravitated West because of Las Vegas. I know many did time in the slot machines.
I think the Ike's, for the most part, are very under appreciated. I have a few ... The Centennials and others.... I have a real soft spot for big 'silver dollars'.... even when it isn't silver.
Cheers, RickO
They also make cheap gun targets.
At $1 a piece, they are cheaper than the replaceable metal disks, plus you get 2 sides to aim at.
Disclaimer: I never aim at the president.
Well, you all have convinced me...now that I'm feeling better I'll head over to the bank to buy them out. I've always had a soft spot for them too as that was the 'big' coin of my childhood...and it didn't hurt I was stationed on the Eisenhower for a tour. "I Like Ike" indeed. Maybe there will be a treasure or two, or not, but it's hard not to like them.
it might be a good way to get some kids started in the hobby as well. just an idea for now
I've done that many times and the reactions are amazing....
Try the same thing with a 2 dollar bill if you really want some fun.
Bob
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Good luck! I hope you score something cool in there!
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If taken to Wally-Mart and used to pay for a purchase, you might end up with more change than expected. Has happened to me several times when paying with Ike dollars or halves. On one occasion when I objected to being given too much change, a supervisor insisted the checker was right and demanded I take the additional $10.
I’ve left an Ike, a 2-dollar bill, a few Kennedys and a pres buck before. I don’t leave SBAs as most of them are seen as quarters.
I live within walking distance of a pizza joint that sells 99 cent PBR pints so five IKEs will go a long way!
it's crackers to slip a rozzer the dropsy in snide
I LIKE IKE.I always ask at the banks.
Does seem a little steep doesn't it! They go for $3 here when there is a band playing but since it isn't within walking distance for me I'm only gonna have a couple.
At my house, the tooth fairy brings Ike dollars! Speaking of which, I need to find some more!
Occasionally I can get them in dozens and once in a while in the hundreds at my several credit unions. I save all I can find. A few years ago I found some in a bank in a very small California town where they had been parked since the late 1970s.