Disposing Of Ikes

I wasn't able to get a single Ike I own for face value, and I have almost 600 of them! Most of them I got for between $1.20 and $1.30, so it's not all bad. Let's see some pics of these bad boys.

Okay so I'm feeling a little stupid. One bag was all Susan b's and I had it mis-labeled. The other bag has rolled Ikes and then there is a half bag of loose Ikes. First roll opened looks like all BU coins with original luster coins. 1 st one out 71S.

I'm crackin up over here. I guess it was meant rhetorically. I'm 57. Still....never too young to give it away to the next generation.

I do not know if I would have gone that far, but I would have been over there every day looking for ways to earn or get more.

Really? Spend a 40% silver Ike at a garage sale? Ooookaaayyyy.

Gaz, please, whatever you do, do NOT do that. Time for some Ike 101 methinks.

In 1971 the Ike dollar was introduced. They made circulation coins in Philly and Denver, but they did not have them in either the mint or proof sets...





Instead of having them in the sets, the mint made them in 40% silver and issued them seperately as "Blue Envelope" Ikes, which are S mint uncirculated coins...



And as S mint silver proofs as "Brown Box" Ikes...



You will notice in the Blue Envelope pic, they issued these coins from 71-74. That goes for the Brown Box as well.

Many collectors were way upset there were no Ikes in their mint or proof sets, so the mint gave in and started putting them in the mint sets and clad proof sets...





In 1975 the Ikes were not made in 40% silver. The bicentennial clad coins were struck in 1975, giving rise to type I Ikes, and when struck in 76, type II Ikes. I will refer you to the Ike Group page for a more detailed explanation.

There were however 40% silver Ikes struck in 1976. Along with a silver quarter and half. These were the silver uncirculated S mint set and the silver proof S mint set.







In 77 and 78 there were only clad coins made. 1978 was, sadly, the last year for the short lived coin.

So, the coin you are showing, the 1971S, is a silver coin. Since those were only issued in those blue packs and NOT in rolls, that was not an original bank issued roll you opened. It was a roll created sometime later. That does not mean you don't have solid date original rolls in there. Or that you don't have plenty of lovely uncirculated coins. You likely do.

SA4H is right. If you have any interest at all, and hopefully my very brief rundown will have served to spark some interest, going through all those coins would be marvelous. I can tell you I would LOVE to be in your position.

And if I managed to miss something in all that, Jbuck can correct me.

Where are you at, Gazot? Maybe somebody who knows Ikes and is local to you can sit down with ya when you have a free evening and help you cull out what's worth something and what's just worth face.

And contrary to what some on here will say, most ikes are just worth face... I have purchased thousands from banks and searched them, taking out the nicer, higher-end UNC coins and varieties, and dumping the rest.

What I have said, repeatedly, is that UNCIRCULATED Ikes are worth more than face. For that matter, as another poster pointed out, circulated Ikes go for 1.50 in a lot of dealers bins.

But yes, well circulated Ikes are usually no more than face. But again, not what is being discussed here.

OK, I was not sure if they had started minting in 75 on the silvers or not. Like I said, I knew you would fix anything I goofed. ;)