Newp MS66 1977-D Ike ** Bargain Price **
itsnotjustme
Posts: 8,787 ✭✭✭
I see no reason this sold at such a low price, I bid respectibly on several of this sellers other Ikes and was outbid on all of them, some substantially.
Paid $88! My max bid was substantially higher.
Paid $88! My max bid was substantially higher.
Give Blood (Red Bags) & Platelets (Yellow Bags)!
0
Comments
Don't question it! Just be happy!
The name is LEE!
small dotty breaks in the luster would stop me from bidding strong
at the 66 level.
edited to add: i am not saying the coin is not a 66.. but i have to
wonder if there is a better example out there in 66.
in 2x2s.
the current bid is 6 bucks for all 4.
here is the pic.
i know which way i would collect these puppies if i was interested
and slabbed aint it.
The lighting is making it appear a bit harsh (IMHO).
Is there any way to get a more direct light source on the coin? I am seeing hints of a clash but can not be sure since the fields are so dark.
V/R
Sumdunce
<< <i>or one can look at in another way. there is an ebay auction for 4 IKES
in 2x2s.
the current bid is 6 bucks for all 4.
here is the pic.
i know which way i would collect these puppies if i was interested
and slabbed aint it.
I am with you
fc, appreciate your viewpoint. As for me my real interest is my 1793 - 1964 type set, and these - specially error Ikes, and 1859 mint set are my side collections. The PCGS population report shows 60,000 MS66 Morgans, and only 5,000 MS66 clad Ikes so these are not easy.
I don't see anything that jumps out as definite clash though.
When you get it in hand post some better images or head to the Ike Group's website for details on how to look for clash images on the Ike series.
V/R
Sumdunce
<< <i>I just made the purchase tonight, so not at this time I cannot. Where are you looking at a possible clash?
fc, appreciate your viewpoint. As for me my real interest is my 1793 - 1964 type set, and these - specially error Ikes, and 1859 mint set are my side collections. The PCGS population report shows 60,000 MS66 Morgans, and only 5,000 MS66 clad Ikes so these are not easy. >>
I am no big fan of morgans but you count stat isn't the whole story here. There are 180000 collectors for those 60000 morgans=1 for every 3 collectors. There are 42 Ike collectors out the for the 5000= There is <119 per collector. All jokes aside, It is always worth while to send in a Gem or better morgan as even if it comes back as 64 its still worth more then the cost of the plastic. That is simply not the case for Ikes. And because of that there are millions and millions and millions raw out there sitting, many which are gem. Always be careful with coins that are only worth more then face when they're in plastic.
<< <i> And because of that there are millions and millions and millions raw out there sitting, many which are gem. >>
I don't believe that.
I started collecting clad in 1972 and never paid a lot of attention to Ikes
because I believed they were all poorly made and no one would ever collect
them for this reason. I didn't see my first gem Ike until 1979 and it was a
'77 Philly issue in a mint set.
Closer examination of sets did start turning up a few but from what I call
gem it was only about .5%. With so many of these sets destroyed and the
lower incidence in roll it's very difficult for me to believe there are even a
quarter million out there of all dates combined.
There could be millions and millions of near gems but with so few collectors
physically setting them aside to protect them even this would surprise me.
I'd guess there about 3% as many gem Ikes as Morgans but well less than
1% as many collectors.
<< <i>I am no big fan of morgans but you count stat isn't the whole story here. There are 180000 collectors for those 60000 morgans=1 for every 3 collectors. There are 42 Ike collectors out the for the 5000= There is <119 per collector. All jokes aside, It is always worth while to send in a Gem or better morgan as even if it comes back as 64 its still worth more then the cost of the plastic. That is simply not the case for Ikes. And because of that there are millions and millions and millions raw out there sitting, many which are gem. Always be careful with coins that are only worth more then face when they're in plastic. >>
Your absolutely right statistically, that is why I see no sense in every one getting so excited about the Ike's. That's why I wish every one would just take a breath and not get so exited about all these die varieties and hard to find upper MS coins. It's just not worth your time.
Remember Ike's are just great big crappy looking coins that will never be worth anything. All they are good for is giving as tips and handing out to the kids at Halloween.
Besides I'm not done finding all the ones I want yet
Great Looking 77D
SumDunce
Stew
<< <i>
<< <i>I just made the purchase tonight, so not at this time I cannot. Where are you looking at a possible clash?
fc, appreciate your viewpoint. As for me my real interest is my 1793 - 1964 type set, and these - specially error Ikes, and 1859 mint set are my side collections. The PCGS population report shows 60,000 MS66 Morgans, and only 5,000 MS66 clad Ikes so these are not easy. >>
I am no big fan of morgans but you count stat isn't the whole story here. There are 180000 collectors for those 60000 morgans=1 for every 3 collectors. There are 42 Ike collectors out the for the 5000= There is <119 per collector. All jokes aside, It is always worth while to send in a Gem or better morgan as even if it comes back as 64 its still worth more then the cost of the plastic. That is simply not the case for Ikes. And because of that there are millions and millions and millions raw out there sitting, many which are gem. Always be careful with coins that are only worth more then face when they're in plastic. >>
Morgans have a whole lot more coins in the series offering than the IKEs due so drawing a comparicon is difficult. Perhaps the Peace Dollars would be a better candidate with only 4,994 in MS66 compared to the IKE's.
Never the less, the day of the IKE will eventually get here what with the IKE Group finding and focusing on the collectible varieties. Heck, with in the past month, at least 4 new RPM's have been identified and categorized.
But, even then, I'm with Stew. Just ignore these coins until we're all done going through them!
I'm also with cladking in that the series has been ignored for soooo long that many nice coins are biting the dust. I'd sure like to go through some more sealed $1,000 bags but they just do not come up that often as regular offerings. Sealed mint sets are much easier to obtain but the competition is high and the rewards far and few between.
Personally, I think to really appreciate a high MS IKE, folks need to spend some time "looking" for one and then seeing if a TPG agrees with your assessment. I think that experience would be a real eye opener for many!
The name is LEE!
<< <i>And because of that there are millions and millions and millions raw out there sitting, many which are gem. >>
Spoken like someone who has never tried to find a gem IKE. From an IKE's collectors point of view, there are millions of ugly BU IKE's out there but only a handful of true gems. JMHO
and it sets us apart from practitioners and consultants. Gregor
<< <i>
<< <i>And because of that there are millions and millions and millions raw out there sitting, many which are gem. >>
Spoken like someone who has never tried to find a gem IKE. From an IKE's collectors point of view, there are millions of ugly BU IKE's out there but only a handful of true gems. JMHO >>
spoken like some one who has never spent time behind the counter at a B&M and had people bring in bags and bags and shoe boxes and rolls and coffee cans and mint packs and bank packs and envelopes and water bottles of the things. Trust me there are a lot out there and you can not put all of them in one group or another.
I like Ikes and I think they are a perfect starter set for an YN as VERY choice-gem complete set w/proofs can be had for under 100$ in a Whitman and they work very well in teaching people how to grade.
I dont think different levels of strike or die wear are variates like the peg legs and what not and any Doubled die you need x78 mag for is not a worth while DD (IMHO + most other people who speak with their wallets). To be fair I think most peace/Morgan VAMS are bogus as well and I collect the Peace ones. I just think a level of caution should be used in a coin that is worth 1$ in MS60, 3$(retail) in 64 and 500$ in 65. Is the coin rare or is a PCGS graded coin rare? and is the true difference that big other then to the registry value?
I find in collecting the is always is a key and if there isn't one people start nit picking to make one. Why is 5 steps worth 40x what a 4 1/2 step coin is and is that 5 step coin worth that much in a 2by2 as it is in plastic? Is a Franklin any less ugly of a coin with full bell lines ( who care about stupid bell lines, really)?
People start collecting the IKES( and other series like them) and complete the set to quickly and cheaply missing the point or at least the reward of collecting which is the road and challenge of completing the set and having a nice set which not everybody can have with out the proper effort. Seeing that they are unfulfilled they make the set harder then it needs to be. You don't see the Seated quarter guys laughing at the guy whose completed set doesn't have full heads.
I just think a level of caution should be used in a coin that is worth 1$ in MS60, 3$(retail) in 64 and 500$ in 65. Is the coin rare or is a PCGS graded coin rare? and is the true difference that big other then to the registry value?
Depends. One of the things I collect is Washington Quarters. Every shop has hundreds, if not thousands. I've been looking for a stellar 1969-P for years, and don't really care if it is raw or holdered. I'd like a well struck, mark-free coin with luster. It would be pocket change for most folks, but I'd pay pretty good for the right one. I'd love to buy a strong coin for $2, but I'd be comfortable buying the right one raw for $500. I've owned a few PCGS MS66's that I didn't care for. Go figure.
and it sets us apart from practitioners and consultants. Gregor
<< <i>spoken like some one who has never spent time behind the counter at a B&M and had people bring in bags and bags and shoe boxes and rolls and coffee cans and mint packs and bank packs and envelopes and water bottles of the things. Trust me there are a lot out there and you can not put all of them in one group or another. I like Ikes and I think they are a perfect starter set for an YN as VERY choice-gem complete set w/proofs can be had for under 100$ in a Whitman and they work very well in teaching people how to grade. I dont think different levels of strike or die wear are variates like the peg legs and what not and any Doubled die you need x78 mag for is not a worth while DD (IMHO + most other people who speak with their wallets). To be fair I think most peace/Morgan VAMS are bogus as well and I collect the Peace ones. I just think a level of caution should be used in a coin that is worth 1$ in MS60, 3$(retail) in 64 and 500$ in 65. Is the coin rare or is a PCGS graded coin rare? and is the true difference that big other then to the registry value? I find in collecting the is always is a key and if there isn't one people start nit picking to make one. Why is 5 steps worth 40x what a 4 1/2 step coin is and is that 5 step coin worth that much in a 2by2 as it is in plastic? Is a Franklin any less ugly of a coin with full bell lines ( who care about stupid bell lines, really)? People start collecting the IKES( and other series like them) and complete the set to quickly and cheaply missing the point or at least the reward of collecting which is the road and challenge of completing the set and having a nice set which not everybody can have with out the proper effort. Seeing that they are unfulfilled they make the set harder then it needs to be. You don't see the Seated quarter guys laughing at the guy whose completed set doesn't have full heads. >>
Crypto79,
I absolutely understand your position on this and from your point of view(Behind the counter) you are entirely right. there are tons of Ikes to be had that are junk. Point being I have have a hard time finding one ,Say a 1971 S blue pack Ike that is not all bag marked as does everyone else that tries to find one. They have never made it to circulation yet because in 1971 the blue packs were shipped from the mint in bags. It was not until 1972 that the mint began shipping them in tubes. So for the 71 blue packs one that has no bag marks would be considered a conditional rarity, yes?
All of the Ike die varieties and double dies I have found to date are naked eye finds (reading glasses in my case) and a cheap $3.50 5x plastic loupe I picked up from a coin show. I do have a fairly nice 10x I use exclusively for photographing certain areas of coins to share
I used to collect modern and antique guns when I was younger had a collection of over 300 pieces at the height of the collection.
A friend of mine talked me into opening a gun shop. I did, made tons of money and lost all passion for the hobby in the proccess.
My son has more guns than I do now, I have one 12ga.auto that sits in the corner for the house. And to remind me to never turn a hobby I love into a business again. From someone that has been on both sides of the counter
Just a side note for clarification. I can't speak for all the other Ike guys but for me the passion for the Ike's is in the details
Stew
<< <i>guys but for me the passion for the Ike's is in the details
Stew >>
i think that statement really nails it but in a way that does not work
out for me.
when a person can spend a small fortune to create a set of IKEs that
are the finest known in slabs.. and then along comes another person
who can create the same set (not slabbed).. not as nice in a slight way.. for pennies
on the dollar compared to that small fortune.. those details just do not
make up for it to me.
unless by details you mean DDs, clashes, errors, or etc.. which can be
an interesting spice to mix in with an otherwise common series.
<< <i>
<< <i>guys but for me the passion for the Ike's is in the details
Stew >>
i think that statement really nails it but in a way that does not work
out for me.
when a person can spend a small fortune to create a set of IKEs that
are the finest known in slabs.. and then along comes another person
who can create the same set (not slabbed).. not as nice in a slight way.. for pennies
on the dollar compared to that small fortune.. those details just do not
make up for it to me.
unless by details you mean DDs, clashes, errors, or etc.. which can be
an interesting spice to mix in with an otherwise common series. >>
I'm not an Ike kind of a guy, but as far as coin collecting goes, whatever floats your boat is fine by me. If you like the details Stew then more power to you. It seems to me that any hobby where you spend WAY more than face value on something is by definition crazy (and yes, I am nuts). However, if you get enjoyment out of it then go to it. After all, some people spend a ton of money to go to some place to catch some fish and then release the fish.
U.S. Type Set
<< <i>
<< <i>
<< <i>And because of that there are millions and millions and millions raw out there sitting, many which are gem. >>
Spoken like someone who has never tried to find a gem IKE. From an IKE's collectors point of view, there are millions of ugly BU IKE's out there but only a handful of true gems. JMHO >>
spoken like some one who has never spent time behind the counter at a B&M and had people bring in bags and bags and shoe boxes and rolls and coffee cans and mint packs and bank packs and envelopes and water bottles of the things. Trust me there are a lot out there and you can not put all of them in one group or another.
>>
For me, this is the reason I don't fuss with Lincoln cents except for graded varieties. I find it so extremely difficult to go through even a $25 box of cents and I don't really no why! Yes there are some nice varieties out there but they are just so danged small!
I think my limitations are at the quarter size because after that, I really need to push my self on the hunt and to me thats not what collecting should be about.
As for IKE's, yes, I have many sets over many different grades and have looked at thousands upon thousands without ever getting bored or feeling like I'm pushing myself.
Perhaps its the fact that the series has not been fully explored or appreciated?
Perhaps its the fact that there are some really neat ones out there to be had at face or below bid?
I just don't know.
What I do know, is that I try not to diss or talk down someone elses collection of choice by stating that they are common or by comparing this number with that number and the why's and wherefore of what should be collected or what should not be collected.
We all have our series of choice and we all know more about one coin than some other folks do and truth be told, unless you are a multi-millionaire that collects only the rarest of coins, you can find literally any coin you are looking for in literally any series and most grades because there are literally millions to choose from! PCGS alone has graded over 18,000,000 of them and that doesn't even consider NGC or ANACS or any of the other grading services.
Want a Washington Quarter in MS66? No problem! Make it a Type B and you'll have some difficulties but with enough cash, no problem. Make it a Type C and you'll certainly run into some problems cash or not.
Want a Morgan or Peace in MS66? Again, no problem. Make it a specific VAM and again you'll have some difficulties but you will find one. Make either coin a specific date and you'll have some difficulties but again, you can find one.
What about Walking Liberty Halves? Same scenario!
Standing Liberty Quarters? Same scenario!
However, in all the situations above, finding those coins raw can be a totally different situation altogether. Yes, there are lots of Junk IKEs laying around but there's a lot more junk silver laying around, across all series or coins, which many dealers don't bother searching through. Occasionally they do but its a tough thing to do! Well, unless thay are Seated Liberties but you get the picture.
I think the OP got a helluva deal on his buy and simply wish that I could score like that on a regular basis.
The name is LEE!
Just to clear it up as far as me personally. I have never submitted a coin to be graded to date. For me there is not enough consistency there yet.
I grade my own coins my own. I tend to be more of a technical grader than market, But I can understand why market grading is there.
I do not spend more than I can afford to lose on my hobby. Some people have much more disposable income than others.
So when one guy can afford spend 10 bucks on a coin another can afford $100 and another can afford to spend $1000.00 and all three will feel the same size dent in their wallet. Now we are getting into Einstein stuff It is all relative to your individual incomes
Stew
<< <i>You got a great deal.
Don't question it! Just be happy!
Verily!!
<< <i>
when a person can spend a small fortune to create a set of IKEs that
are the finest known in slabs.. and then along comes another person
who can create the same set (not slabbed).. not as nice in a slight way.. for pennies
on the dollar compared to that small fortune.. those details just do not
make up for it to me.
>>
It is really possible to create a registry quality set for pennies on the dollar
but you make it sound like it's a mere cakewalk and nothing could be further
from the truth. Submitters go through thousands of mint sets and/ or hun-
dreds of rolls to find a coin that is fully registry quality. He might submit a few
others as well but these will generally fall a little short because they are not
as good quality.
In order to assemble a registry quality set you have to be willing to do the
work necessary to locate and search thousands of sets and hundreds of rolls
for each date. This is not easily done and never was. In addition to some pro-
blem with finding unchecked rolls and sets there is also the problem with not
having access to them. Dealers won't normally allow customers to open ori-
ginal rolls so he can find gems at pennies on the dollar. When was the last time
you saw a hundred 1973 mint sets much less a thousand.
You'll wear out enough shoe leather that by the time you complete your set it
would have been cheaper to look for slabbed coins.
It never was easy to find the high grade unc Ikes and after a few decades of
destruction of sets and rolls it most assuredly has not gotten easier. As I al-
ready pointed out I got a huge head start on everyone else and still didn't get
my first gem until 1979.
<< <i> I just think a level of caution should be used in a coin that is worth 1$ in MS60, 3$(retail) in 64 and 500$ in 65. Is the coin rare or is a PCGS graded coin rare? and is the true difference that big other then to the registry value?
>>
I don't believe any Ikes even come close to such a pricing structure. The '78-D
is the most common gem but being common it will sell for a lot less than $500.
It should be worth a great deal more than $3 in MS-64.
<< <i>
People start collecting the IKES( and other series like them) and complete the set to quickly and cheaply missing the point or at least the reward of collecting which is the road and challenge of completing the set and having a nice set which not everybody can have with out the proper effort. Seeing that they are unfulfilled they make the set harder then it needs to be. You don't see the Seated quarter guys laughing at the guy whose completed set doesn't have full heads. >>
To each his own. If I were collecting seated coins I would hardly insist on only
gem coins. It seems only natural that collectors of modern coins collect gems and
varieties or there would be only very common coins and a few ultra rarities. This
hardly sounds like a fun collection. Every coin is distressingly common except a
few that can't be found at all.
What's wrong with gems? What's wrong with full hands or full bell lines?
Go to work and come home to a lively thread :-) ;-)
I am trying to think how I got going collecting Ikes....I know in the 2002 - 2004 time frame I started buying many raw Ikes, Brown Ikes, Blue Ikes, even Ike rolls. I made a major score when I bought 11 Ikes raw on e-bay for $18 and this baby that found it's way from my PCGS submission to James Sego's All Time Ike Set.
If it weren't for the worry line on Ikes brow, this would be an MS68 Clad Ike!
<< <i>
<< <i>
when a person can spend a small fortune to create a set of IKEs that
are the finest known in slabs.. and then along comes another person
who can create the same set (not slabbed).. not as nice in a slight way.. for pennies
on the dollar compared to that small fortune.. those details just do not
make up for it to me.
>>
It is really possible to create a registry quality set for pennies on the dollar
but you make it sound like it's a mere cakewalk and nothing could be further
from the truth. Submitters go through thousands of mint sets and/ or hun-
dreds of rolls to find a coin that is fully registry quality. He might submit a few
others as well but these will generally fall a little short because they are not
as good quality.
In order to assemble a registry quality set you have to be willing to do the
work necessary to locate and search thousands of sets and hundreds of rolls
for each date. This is not easily done and never was. In addition to some pro-
blem with finding unchecked rolls and sets there is also the problem with not
having access to them. Dealers won't normally allow customers to open ori-
ginal rolls so he can find gems at pennies on the dollar. When was the last time
you saw a hundred 1973 mint sets much less a thousand.
You'll wear out enough shoe leather that by the time you complete your set it
would have been cheaper to look for slabbed coins.
It never was easy to find the high grade unc Ikes and after a few decades of
destruction of sets and rolls it most assuredly has not gotten easier. As I al-
ready pointed out I got a huge head start on everyone else and still didn't get
my first gem until 1979. >>
you make some great points but i really think it is not that hard to
come up with a set of these just below the finest knowns for short
money. the 72 T2 will of course be the most expensive but one can
skip that for a T1 or T3.
I was curious so i went to ebay to see what these are selling for.
Not suprisingly the PCGS price guide seems to be off by a factor of
3 in a lot of cases. So the market is basically telling me that these
slabbed examples are way over priced in the price guide and no
one is ponying up right now for them. I have no idea about top pops
though. Not like ebay is always selling those.
And with the ability now days to see hundreds and hundreds of examples
while sitting in your underwear drinking a beer is very different then
20 years ago where you had to wear out shoe leather to view that
many coins.
But i am not trying to be right here and attempting to convince others. This is just my opinion. I would collect raw, save a bundle,
and know I am not very far off from the finest knowns. One could
probably do the whole set in an evening. (i am joking a bit but there
is some truth to that).
You'll then have a complete set ......
... with 21 coins.
2 MS66 (Both Blue or 76-S)
4 MS65 (3 of them Blue or 76-S)
3 MS64
4 MS63
2 MS62
2 AU58
Know what the worst part is... Clad King can likely pull stats to back this up!
enough said,,,,,,
GrandAm
<< <i>
But i am not trying to be right here and attempting to convince others.
This is just my opinion. I would collect raw, save a bundle,and know
I am not very far off from the finest knowns. >>
You're preaching to the choir here. But if you think you can buy raw and get a set "not very far
off from the finest knowns" I think you'll be sorely disappointed. Doing the work is a lot of fun
but actually finding rare coins is a lot like work. You can have fun and make a very nice set if
you have a lot of patience but only a few of the coins will be "not very far off from the finest
knowns" and these will strongly tend to be the common dates.
<< <i>
One could probably do the
whole set in an evening. (i am joking a bit but there is some truth to that). >>
Most US sets that cost less than $50,000 or so can be put together pretty quickly if money is no
object.
<< <i>
<< <i>
But i am not trying to be right here and attempting to convince others.
This is just my opinion. I would collect raw, save a bundle,and know
I am not very far off from the finest knowns. >>
You're preaching to the choir here. But if you think you can buy raw and get a set "not very far
off from the finest knowns" I think you'll be sorely disappointed. Doing the work is a lot of fun
but actually finding rare coins is a lot like work. You can have fun and make a very nice set if
you have a lot of patience but only a few of the coins will be "not very far off from the finest
knowns" and these will strongly tend to be the common dates.
<< <i>
One could probably do the
whole set in an evening. (i am joking a bit but there is some truth to that). >>
Most US sets that cost less than $50,000 or so can be put together pretty quickly if money is no
object. >>
Tell me about it cladking!
I went through three or four submissions before I ever saw my first MS65! Man that was tough!
And expensive!
But I thought each one was a winner.
The name is LEE!
<< <i>spoken like some one who has never spent time behind the counter at a B&M and had people bring in bags and bags and shoe boxes and rolls and coffee cans and mint packs and bank packs and envelopes and water bottles of the things. >>
I'm glad you know me so well.
GrandAm
<< <i>
>>
A complete set of coins like this will just about take your breath away. Even
this one coin can make you pant a little if you've spent much time seeking
gemmy examples.
And this is an "easy date". ...Well, at least in gem it's an easy date. In this
grade there aren't really even any easy moderns other than a few of the zin-
colns.
Beautiful!!!
Greg Hansen, Melbourne, FL Click here for any current EBAY auctions Multiple "Circle of Trust" transactions over 14 years on forum
<< <i>
<< <i>I would collect raw, save a bundle,and know
I am not very far off from the finest knowns. >>
Have you ever seen (a correctly graded) ms67 Ike in hand?
To many the difference between an ms66 and ms67 is huge!
And a coin is a coin is a coin. The same argument people use against the prices of high grade moderns can be made for almost all classics too. Why buy an ms66 Morgan when an ms65 is much cheaper and almost as nice? Why buy a G 1893-s Morgan when an AG barely has less detail and is so much cheaper? >>
i think exactly the same way for classics, fyi. many of us do. it just
seems with a lot of classics you do not get the choice to collect raw
for many series as most of the rarer coins are slabbed. One simply
avoids the huge price jump that takes place at some point in the
grade scale. Let others play in that realm.
ikes on the other hand... the majority are still raw. that is why people
state watch out buying high grade moderns when there is a ton still
out there.
and frankly, the difference between a 66 and a 67 should not be HUGE. if that is the case it is simply the TPGs controlling the system
as they see fit. have i seen a pcgs 67 in hand? no. that is some rare
plastic. Have i seen uncirculated IKES that are very nice? yes.
<< <i> the difference between a 66 and a 67 should not be HUGE. if that is the case it is simply the TPGs controlling the system as they see fit. >>
Talk about hitting the Bulls-eye.
It is hard to even get the powers that be to recognize an entirely different reverse die variety. (1971-D RDV-006 Friendly Eagle Variety) Let alone the smaller stuff.
P.S. Sorry to bring up a sore subject
Stew
<< <i>
ikes on the other hand... the majority are still raw. that is why people
state watch out buying high grade moderns when there is a ton still
out there. >>
There are not large numbers of raw Ikes surviving. The number of BU rolls and mint
sets has been whittled down significantly. Among those that do survive many have
already been checked. Don't be surprised to see pops on the highest grades double
or go up 50% but you won't see explosions going forward.
Remember that as recently as 1995 only a small percentage of Morgans had been
graded yet still the prices held and increased as more and more were. Ikes have been
graded longer now than Morgans were in '95.
<< <i>
and frankly, the difference between a 66 and a 67 should not be
HUGE. if that is the case it is simply the TPGs controlling the system
as they see fit. have i seen a pcgs 67 in hand? no. that is some rare
plastic. Have i seen uncirculated IKES that are very nice? yes. >>
Modern coins are not made like the old coins were. The standards used to be stricter
and silver is a softer metal that shapes better and wears dies more slowly. Most Mor-
gans would have graded MS-66 off the dies but Ikes were lucky to average 64. Plan-
chet scratches plague the Ikes and handling was on a larger scale than with Morgans.
This meant they had farther to fall off the chutes and into bins. There were no collectors
scrutinizing the quality of coins after 1965 because there were no collectors. The mint
mainly just cared that the coins were round and stacked OK. The older coins laid out
on a narrow bell curve centered near the high end of the scale.* The new coins lie on
a very broad bellcurve centered on and skewed to the low end. Preservation is the pri-
mary consideration with older coins but with the newer it's production quality. Usually
there are progressively fewer coins in each grade as you go up the scale but some times
there can be an enormous drop off. This causes big spreads in price whether you're talk-
ing about the difference between a '26-S nickel in F or VF or a '73 Ike in MS-64 or 65.
Just as with older coins with large spreads the collector has the choice of going with the
lower grade. One could consider this an advantage with moderns since sometimes coins
in slightly lower grades can be fairly common. Rather than having to pay $85 for a Fine
'26-S (1,700 X face value), an MS-64 Ike might be had for as little as $50 (A mere 50 X
face).
No matter how you slice it there's no reason not to collect what you enjoy. As with clas-
sics you really should try to learn the series if you collect Ikes. One of the first things
you'll learn is that most of the rolls and coffee cans of Ikes coming into coin shops will
not contain anything even close to a gem. Morgans survived the decades in unc because
they sat in vaults. Ikes did not. Most of the uncs are unattractive/ mishandled or both.
Try finding a gem. It's probably far harder than you think.