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 Replies: 103 / Views: 19,284 |
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Pillar of the Community
 United States
1804 Posts |
Jbuck  Quote:
But these coins are not stored at the mint, they are in the Federal Reserve! True, they are not stored at MINT ~`~`~` NO WAY However, they are stored both at the FED-CASH system and the CI systems One does wonder how many the FED has, and how many the CIs have. |
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Pillar of the Community
United States
2815 Posts |
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No it is not $1000 at the mint, it is a stack of worthless metal since it isn't being used for its intended purpose. I get what you're saying, but the Fed will NEVER look at those $1000 bags as worthless metal, and neither will anyone else. In the world/universe of numismatics they really are in purgatory. Quote:
One does wonder how many the FED has, and how many the CIs have. THIS I would love to know! Tantalizing. Edited by Darth Morgan
01/01/2015 11:49 pm
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Pillar of the Community
1325 Posts |
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When was the last time you got a fresh $1,000 bag from your bank? I am still trying hard just to get my first bag!  Edited by shadz
01/02/2015 07:28 am
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Pillar of the Community
United States
997 Posts |
Regardless of where they are stored or the status within the money supply, these Ikes are just taking up space and expense to secure them. At some point, if they cannot be disbursed at face it will be cheaper to just dispose of them.
Common Ikes have no numismatic value over face, no real metal value and are unwanted in commerce, even more so than the smaller dollar coins. Banks won't order them except at a specific request of a customer, and they are not required to redeem them for CRH'r's.
Perhaps a "drop dead" melt date be set for the remaining supply. Let collectors buy them at face plus shipping costs until then. Remove their legal tender status so they don't cycle back.
I like Ikes as much as the next collector but they are obsolete as a circulating coin and there is no reason to hold onto millions of them at the Fed.
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Pillar of the Community
United States
1804 Posts |
Darth Quote:
THIS I would love to know! Tantalizing.  As my paranoid mind turns, I rather think-believe there is a sinister plan-plot a foot, to freeze all IKEs, at FED-CASH system and the CI system until some sort of whack job idiot executes the ultimate disaster in my life. The end of my bags of IKEs |
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Moderator
 United States
188740 Posts |
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And to think, if they had just killed the dollar bill in 1970-71, Ikes would still be circulating. I can only contemplate. If only.  Quote:
these Ikes are just taking up space and expense to secure them Not really when you compare them to the superior number of baby dollars sitting next to them.  Kill the one dollar note and all dollar coins, large and small, will flow to the banks! The large ones will get there since the banks will not know to specify the difference.  |
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Pillar of the Community
United States
2815 Posts |
I really wish the fed would sell these Ikes at face to collectors with a shipping fee that is a certain amount more than the actual cost to ship them. That way they can at least make a small profit. I don't think this will happen, but you never know. I can just see it now: in the year 2071, someone at the Fed will say, "hey fellas, these coins are 100 years old. Let's set up some sort of sale to the general public." What if the price of copper is comparable to the price of silver in the 1960s at that point in time. I love contemplating stuff like this.
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Pillar of the Community
United States
1804 Posts |
9njig Quote:
Regardless of where they are stored or the status within the money supply, these Ikes are just taking up space and expense to secure them. At some point, if they cannot be disbursed at face it will be cheaper to just dispose of them. ?DISBURSED?  The gist of this entire thread is that persons galore CAN NOT get any bags of IKEs On CCF I see many person who are wanting BAGs of IKEs I was lucky enough to get seven $1,000 bags. and a few here and there. If I could get 5 bags TODAY ~~~ I am ready to pay up. |
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Valued Member
United States
272 Posts |
I would love to get them if they are eventually going to be destroyed
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Pillar of the Community
United States
1804 Posts |
n9jig Quote:
Banks won't order them except at a specific request of a customer, ~~~ ~~~ If you know this to be a hard fact ~~~ please tell us good 'ol boys how to properly preform a specific request. |
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Valued Member
United States
272 Posts |
Yeah please do cause id like to get a couple thousand
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New Member
United States
3 Posts |
I knew one day my IKE obsession would pay off!! I love me some IKE's
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Pillar of the Community
United States
1804 Posts |
JasonMcKeownsr Quote:
I knew one day my IKE obsession would pay off!! I love me some IKE's FIRST  Maybe your first post will be moved to another thread so all the CCFers can welcome you. If so, come on back to this and (other IKE threads) CCF has many passionate IKERs   |
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Pillar of the Community
United States
997 Posts |
Domain555: Maybe I could have been more clear; the ONLY way you would get Ikes in bag quantities at a bank is by specific request, they are not kept in regular stock like pennies, quarters, etc.
As for the possibility of Ikes returning to circulation when/if the paper dollar is discontinued, don't bet on it. They might try it but I can pretty much bet that they will be in much disfavor vs. the golden dollars. Remember that the general public didn't care for them when they were the only dollar coin because they were just too big, why would they accept them when there is a "better"(*) alternative?
(*) Better being as preferred by the public, not us collectors. If it were up to me I would prefer the Ike sized coin but it isn't up to me... Of course I would prefer the dollar be revalued to allow silver to be used again as it was before 1965 but that brings up a whole different can of worms...
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Bedrock of the Community
United States
17884 Posts |
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No it is not $1000 at the mint, it is a stack of worthless metal since it isn't being used for its intended purpose. They do not stop being money just they aren't actively changing hands in circulation. They are still an asset and can be used as money at any time or even used as collateral at theier face value even if they never leave the vault. Just like the Morgan dollars sat in the vaults and were the backing for the silver certificates. Paper money that is in your wallet is still money even though it is not being currently spent. |
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Replies: 103 / Views: 19,284 |
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Posted 01/01/2015 11:47 pm
