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1972 Type 2 IKES (Modern coin post alert :) )
USMC_6115
Posts: 3,015 ✭✭✭✭✭
Just curious.. For those that hunt the above coin, have you noticed it's diminished presence? I typically use Ebay for RAW examples and at this point there are 0... There is a few graded examples, but nothing in the amounts that there used to be. Just asking if others are seeing what I'm seeing... thanks!
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Have noticed as well also seems like prices are ticking higher
Early on in my coin collecting reneissance I had attempted to cherry pick a Type 2 1972 Ike online. Spotted 1, brought it and it turned out to be just a normal 1972 Ike.
Went back to the site and find out in fine print that stock photo was used.
Luckily its just a $5 tuition.
@Sweetpie Yep that happens. Dealers are now calling all types of 1972 coins "Type 2"... (The coin we are talking about it the 1972 P , not D, not S, etc) You really have to know the characteristics of the variety. There are lots of photos out there.. I've paid my tuition once or twice also..
Interest in the Ike 1972-P Type II peaked a few years ago. Once the market became saturated and all the available pieces found a home, the value for lower grade examples dropped considerably and investors lost interest. The MS-65 and above is always in demand but seldom on the market. Only about 5% of the TPGS 1972-P Type II are MS65 or above and the price drop between MS65 to MS64 is 85%. Few new MS-65 specimens have been slabbed in the last few years. If the die life was about 5,000, between all the TPGS over 4,000 have been certified. Through attrition, damage, and collector raw holdings, there are probably very few examples left in the wild. However, as older collectors “cash in”, some of those dusty 2x2’s and partially completed albums, may hold some overlooked gems.
Good info.. Although I don't think I've seen a big drop in lower grade examples as much as I've seen them not offered as much. Also, disappointingly, a large number of the MS65 examples I've seen have absolutely NO business being in that holder... JMHO
Do you think this is because the slabbed examples are in permanent “complete” Ike collections with little incentive to sell? Once the holes are filled, this series has a tendency to get lost on the back shelf. Without a supply source, few would be fresh to market even in lower grades.
I used to look for these all the time when Ikes came in , never found hardly any but about 1 -2 in 10 years, then I had a hoard of ikes come in last month, found three. Submitted 2 one came in at 58, the other at 64. Just recently sold them on ebay.
@Intueor wish I knew.. wasn't that long ago these were booming on Ebay in RAW at least. I'm only asking because I search for these constantly on Ebay.. and they aren't offered as much...
I have quite a few Ikes that have been resting in my coin cabinets for years...I must look at them... I know there are '72's in there, but have no idea what types they are...Have had them for years and years. Stay tuned... Cheers, RickO
A picture or two may create an interest in someone who has a few Ikes laying around and wants something to do on a rainy (snowy?) day.... just sayin'.
Courtesy of our Host CoinFacts:
@masscrew
Here is a little reward for creating this post. There is a caveat to PCGS slabbed 1972 Ikes that may be of interest when searching for Type 2 reverses. The Type 2 (RDV-002) was first researched and published in a September 19, 1972 article in “Numismatic News Weekly”. Before 2003, PCGS did not distinguish Type 1, 2, or 3 and all 1972-P Clad Ikes were coin #7409. Sometime in 2003-04, PCGS began differentiating and attributing the three types. Type 1 received coin #87409, Type 2 received coin #97409, but Type 3 remained #7409. In July of 2004, the hardcopy of the PCGS Population Report listed 973 1972 (et al) Clad Ike slabs. In 1974, the PCGS Population Report listed each type separately with the Type 1 @ 293, the Type 2 @ 155, and the Type 3 @ 1147 total population. Here is the caveat, when PCGS spilt the types it took all 973+ of the 1972 Ike population number and assign them to the Type 3 #97409 listing. What choice did they have? That is why the 2004 population figures were so skewed to the Type 3 Reverse.
What does this mean to a collector? Think about it, at current population reports for all slabbed 1972-P Ikes, about 33% are Type 2. Based on the skewed totals and arbitrary assignment of a type in 2003, about 300 1972 Type 2 Ikes are sitting in pre-2004 type-undesignated slabs. From searching auctions occasionally, two such pieces were acquired and re-slabbed by PCGS. As a testimony to consistency, one went in as a MS-63 and came back as a Type 2 MS-63. The other find went in as a MS-64 and came back as a Type 2 MS-64. Hey, it was worth a try!
Just keep this little known information in mind when searching 1972-P undesignated type PCGS slabbed Ikes.
Good hunting!
@Intueor very interesting read, thanks.. The search continues!
Thank you all for sharing some very informative reading !!!