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Can a high end Ike Registry Set still be cherrypicked from raw coins?
FrattLaw
Posts: 3,290 ✭✭
I have finally decided to give myself a grading challenge. I want to see how well I can grade MS Ikes -- not an easy feat, but by no means that much more difficult then grading Peace $ which have the same characteristics -- weak strikes, unapparent rub, heavy bag marks ect.
So I decided to do a Registry Ike set with Varities. With one caveat, all of the coins have to be raw when purchased and never before professional graded. No crosses, no crackouts no nothing. Just good ole raw coins that I'll sumit for grading after rummaging through 2x2s, rolls & mint sets.
Do you think this can be accomplished and I can pull some high end coins from these sources?
Whether I do or not, it does sound fun and it isn't a big expense.
Here's two I picked up yesterday @ my local shop for a grand total of $6.00-- What do you think they'll grade?
Michael
So I decided to do a Registry Ike set with Varities. With one caveat, all of the coins have to be raw when purchased and never before professional graded. No crosses, no crackouts no nothing. Just good ole raw coins that I'll sumit for grading after rummaging through 2x2s, rolls & mint sets.
Do you think this can be accomplished and I can pull some high end coins from these sources?
Whether I do or not, it does sound fun and it isn't a big expense.
Here's two I picked up yesterday @ my local shop for a grand total of $6.00-- What do you think they'll grade?
Michael
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Comments
There are still some raw gem Ikes, but these were always tough to find. Ater fifteen
years of great interest there are a lot fewer than there had been. The dramatically
higher prices of the raw coins in the last few years will make putting together a top-
notch set from raw coins prohibitively expensive.
BU rolls are still available which haven't been searched but their prices have all gone
up two fold to ten fold. The incidence of gems in mint sets has decreased significantly
in the last fifteen years and the cost of the coins is sharply higher.
If one wants a gem set he would be well advised to buy them as gems, but it's still a lot
of fun to find them raw.
The half dollars are only now starting to get hard to find raw. The others shouldn't be
far behind.
notch set from raw coins prohibitively expensive."
I'm a little confused here. How high have raw Ikes gone in the past few years? I'm under the impression that they are still relatively cheap raw and most dealers that I know aren't focusing in on these coins. Granted many have been picked over, but I still think there are some really nice coins out there. Granted I don't know if you can find top-pop coins, but I can't imagine that with enough diligence you can find some really nice high-end MS examples.
As for the 71-D, the pic is lousy, but I would think that's a MS65, with all due respect to Rampage. That was a $3.00 coin.
Michael
I think I have some 73P & Ds in the mint sealed sets - they were not made for general circulation - do you need that date? - I got mine directly form the mint - but as I remember the quality control was really bad & they're probably fuglies - (But then ALL Ikes are Fugly - except those pretty toned silver proofs)
“It ain't what you don't know that gets you into trouble. It's what you know for sure that just ain't so.” Mark Twain
Newmismatist
As for being able to cherry pick a top set, you can do it. If you want a top 5 set I'll give you 15-20 years of looking....maybe more, as my set was started in 1985, and I've bought 4-5 of my top coins already slabbed. I've made some as well, but you'll have to look through a bunch of coins to find a top set.
On the silvers, you can find them all in top grade MS68 except the 71-S MS67. You most likely won't find a MS69.
On the Clads, you'll find most of the 71 and 72-D in 66. You'll be lucky to find the 71 and 72-P's (varieties included) in better than MS64. BEar in mind the 71-D and 76-D Type II are the 1881-S of the clads.
You'll be able to find the 73's in 65.
The 74-P will be a stopper as will the 76-P Type I.
As for the 76's, you'll find the Type II's in 66 and the 76-D Type I in 65.
With some time and looking you'll find the 77-78 PD's in 66, but again these numbers may take you 15-20 years to find all the coins in the grades listed.
Good luck with the set and keep us posted on your progress.
Ike Specialist
Finest Toned Ike I've Ever Seen, been looking since 1986
I think your 71 would make 65 or maybe 66 & your 72 will make 64.
1971-S MS65
1972-S MS67
1973-P MS65
1974-S MS67
1976-P T2 MS66
1976-P T2 MS67
1976-D T1 MS65
1976-D T2 MS66
1976-S MS67
1977-D MS65
1978-P MS66
<< <i>
I'm a little confused here. How high have raw Ikes gone in the past few years? I'm under the impression that they are still relatively cheap raw and most dealers that I know aren't focusing in on these coins. Granted many have been picked over, but I still think there are some really nice coins out there. Granted I don't know if you can find top-pop coins, but I can't imagine that with enough diligence you can find some really nice high-end MS examples.
.
Michael >>
In 1995 almost all the Ike rolls were available for about $22 wholesale. It was hardly unusual
to pick up most of these rolls for face value, so looking through raw coins was an inexpensive
proposition. Mint sets too were usually available for around face value. Today the cheapest
Ike roll will wholesale at $30 (50% over face) and the cheapest Ike mint set will cost nearly
double face. Unless you're disposing of the rejects at retail and/or buying the raw coins at whole
sale there is a great "price" to pay to look at these coins. Keep in mind that even when these coins
are found fresh, you'll have to look at quite a few before you'll find a gem, and these are not often
fresh anymore.
It's still a blast to look for the coins, but now days one does much more looking and much less finding.
If you'll settle for 64 in the 71-72 Philly coins, it's still very do-able IMO, but you'll not do it searching inventories of modern-aware dealers. Most of the clad 65's I've made have come from sealed mint set boxes. I looked at over 500 mint sets in a local dealer's inventory the other day (he doesn't DO moderns, so for him, they were unsearched) and found ONE 74-P and ONE 78-P that I liked as 65. The services ALL give so much latitude to the 76T1-P coin that most of the holdered ones don't do it for me, and finding a coin you'll really like is tougher than finding a decent 71-P. You'll really have to look at a lot of coins.
I'm anxious to see how you progress. Good luck!
and it sets us apart from practitioners and consultants. Gregor
Overall, I'm looking at the enjoyment factor as opposed to the money factor. I think it would be a nice accomplishment. Kudos to Brian for hitting the grades he has. I'm sure that was not easy.
It'll be a nice "work in progress." Thanks to everyone for the help and encouragement.
So I guess the 71-D is a keeper and the 72-D will go to my YN 4th of July Giveaway Box!
I'll keep posting pics of the raw coins and the results when in fact I submit them. I would appreciate opinions from our resident Ike experts as to possible grades as I post additional pics.
Anyone want to join me in the "Ike Challenge." Perhaps we can do some sort of contest, with rules and prizes!
Michael
Not quite so big an advantage around here.
You're giving yourself an unnecessary handicap that'll keep you from achieving your goal.
morris <><
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<< <i>The reason it won't happen is as you get closer to a Top Five Set other Collectors within the Series are also improving their sets and they're not limiting their ability of doing so via the buying of raw coins only.
You're giving yourself an unnecessary handicap that'll keep you from achieving your goal. >>
Interesting. At this point though, there just aren't many raw gems left. Most improvement
in the top sets will have to come from better coins coming back on the market or upgrades of
already discovered coins.
An undertaking such as this would certainly yield some great insights into the numbers of coins
that were searched to make the top sets and the number of coins that survived the many years
of low prices.
Some of those sets might contain nice coins.
Liberty: Parent of Science & Industry
<< <i>Raw sets of Ikes in Dansco and other albums can sometimes be had on eBay for less than $200, and lots of those were probably assembled directly from mint and proof sets, if all the holes are filled.
Some of those sets might contain nice coins. >>
There are, no doubt, many gems in these sets in the aggregate, but the odds of them
being in any specific set aren't very good. Many of these sets were assembled by deal-
ers who are well aware of the value of high grade coins. Even those assembled by col-
lectors were in many cases made from sets and rolls which had already been picked over.
Many of these are extremely elusive even in lots of nice original coins so the odds of these
appearing by chance are not high.
By the same token, some of these sets were assembled by real collectors who may well
have sought out and acquired superior specimens. These sets could come on the market
and sell for quite reasonable prices on e-bay or some other venue. As has been pointed
out many times- - there were VERY few people with any interest in moderns until very re-
cently. The few I've known are still very active in the market and would not sell such a col-
lection at such prices.
I sold this set several years ago, but thought you might enjoy reading the set description.
The Bridesmaid collection
It might, however, be time to do it again.
and it sets us apart from practitioners and consultants. Gregor
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Joe Holt
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