Lack Of Ike Bags? End Of Eisenhower Dollars?

Domain, let me try to simplify my thoughts

The way I see it, the availability of large bags of circulated IKEs will not change the supply of high grade, more valuable, high MS grade IKEs. Those are the valuable ones, and in many cases they are still not that valuable. Even if they melted every circulated Ike, it would not change the supply of high grade ones in collector's inventory. The population of MS-64 1974-D would be exactly the same. So even if you can never find a VF-25 1974-D ever again, it will not make it more valuable than a $12 MS-64 of the same.

Unless someone can point me to an example of a lower grade coin being more valuable than a higher grade one (outside of P-01 for novelty sake)

The statement about Peace dollars was not to say non-silver coins are no collectible, only that once a coin reaches close to silver value, it is similar to a non-PM coin selling for near face (like most non MS ikes). And that Peace dollars have been unavailable at banks for a long time and it hasn't changed that.

The comparison between Ikes and Peace/Morgans is disingenuous at best. Ikes have little intrinsic value except in the highest of grades while Peace and Morgans are worth 15-20x face even if worn smooth.

A bag of 1000 Ike's is of interest only to roll hunters or those with enough money to hoard them, this kind of demand (as well as the fact that the CRH'r's will return the unwanted coins) is not enough to sustain any real inventory. This would make it likely that melting the current stockpiles would be cheaper than keeping them and letting them cycle back and forth. It would likely even be cheaper to just dump them in the ocean but GreenPeace would probably freak out.

When I go into a major bank now, the teller raises an eyebrow if a ask for a few rolls of nickels and dimes. Another bank won't give me a box of pennies unless I pay 15 cents a roll.

I would go back to your bank and ask the lead teller or the head manager to be honest and ask if your bank is taking on the cost of having those coins delivered because one of my banks gave me the run around until the manager finally told me they weren't taking on the burden of handling extra coinage.

I haven't seen an Ike in circulation in over 30 years so I have no idea why the banks wouldn't have amble amounts for collectors. I remember going into banks and ordering coins from the mint but they don't do that anymore. The trend has been for banks to move away from coinage completely.

I saw a waffled circulated Ike not long back.

It's possible that they are systematically melting these to get them out of the system. This would make varieties very valable. It would also cast a lot of attention on the whole series. I doubt more than about 40,000,000 coins would survive the destruction of FED stores. Most of these would be junk and not nice examples or varieties.

Allranger




This pile of "worse the culls" sold on ebay, Dec 09, 2014 for $440.01 That's about $22.00 per each one of those drill 'em bend 'em dogs.

Spot AG was (about) $16 that day. I used .7 oz of silver for each coin, because there was-is so many holes, and wear.

$16 X .7 = $11.20 of Silver per coin.

The first 5 ebay completed sales I checked was in the range of $4.25 over spot AG

Results is winner of the 30+ bidders, at a cost of near double AG spot.

$11.20 ~~~ vs ~~~ $22.00

Wish I lived near your location

Never have, never will.

In 37 years, I've never seen an Ike in circulation and I worked with cash in previous positions for 10 years. I find it odd that they are still out there and were not recalled when the small dollars were released. I don't think they are being recalled/melted at this time. This may be done if there is ever an overhaul of our coinage to remove all obsolete denominations/sizes/designs. These might be kept in storage since they are much heavier than small dollars and small dollars don't even circulate.