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 Replies: 36 / Views: 4,855 |
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Pillar of the Community
 United States
3058 Posts |
Billions and billions! The word "billions" has been said 25 times on this thread.  |
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Moderator
 United States
188924 Posts |
I only count 21 for billions. Counting both 'billion' and 'billions' is 27. But who is counting anyway?  (Oh, and those counts are now 23 and 30 after this post) |
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Valued Member
Canada
71 Posts |
Quote:
I only count 21 for billions.
Counting both 'billion' and 'billions' is 27.
But who is counting anyway?
(Oh, and those counts are now 23 and 30 after this post) billions. |
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Pillar of the Community
United States
4883 Posts |
Back to the topic. Clad Ikes are inexplicably hoarded by noncollectors, albeit not in vast quantities, but enough are being so held that a wholesaler who buys from my area's coin shops is paying a 5% premium for them. I still occasionally get some from the bank, and sometimes those are even obviously uncirculated.
Colligo ergo sum
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Valued Member
United States
75 Posts |
Why would the Fed hold so many in storage? Wouldn't it be more practical to melt down this obsolete currency and use the material to mint other coins?
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Pillar of the Community
United States
6326 Posts |
"Billions". ..... I see OL' Ike's bald head once in a great while in ciculation, but never in Uncirculated condition! --  (mentioned earlier). I don't usually keep them, and I've been offered them from the tellers tray at the bank occasionally, but I don't collect circulated Ike's. Nice condition if found = yes Silver = yes But I never find these ! The "spenders" do still float around though, getting in worse shape all the time...  Edited by eaglefoot
07/08/2016 08:37 am
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Bedrock of the Community
United States
17884 Posts |
Quote:
Why would the Fed hold so many in storage? Wouldn't it be more practical to melt down this obsolete currency and use the material to mint other coins? The problem is, say you have a million Ike dollars. Those are carried on the books as an asset worth one million dollars. You melt them down you have a buch of copper nickel metal worth maybe $10,000 Plus there is a cost to melting them down, do it isn't free. So you now have a $990+K loss showing on the books. So you say "so coin the metal back up again!". You can do that and it will help, but there will be material losses and there is a cost to making coins as well. SO when you get done you now have maybe $980K worth of coins and maybe $40K worth of expenses. Net result is you have turned a one million dollar asset into a $940K asset. |
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Pillar of the Community
United States
6130 Posts |
Actually if we were to convert all Ikes into SBA dollars, we would get nearly 3 SBAs from every Ike (8.1g versus 22.6g). I could see that working out in the Mint's favor. |
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Moderator
United States
188924 Posts |
Sure, but do you really want to destroy a beautiful Ike to get three not-as-beautiful SBA dollars? |
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Pillar of the Community
United States
634 Posts |
Im only responsible for holding 2
a 71 s unc and a 78 d
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Moderator
United States
188924 Posts |
Two is better than none at all!  |
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Bedrock of the Community
United States
11951 Posts |
Should a post be started for CCF members to give their numbers.
Or at least a close count.
I know I have over 600. Good chance over 700, but I don't think over
800. A lot of mine are in storage right now, so would be hard to get
a complete count.
Seems like there were a couple members buying $1,000 bags.
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Pillar of the Community
United States
634 Posts |
Hey Jbuck, did you know that Frank Gasparro called the SBA his top achievement? I wouldn't take him seriously though.... I would be a grumpy old man too if 1 of my coins went out of general circulation right after my redesign, 2 never circulated in the 1st place, and 1 got slowly more worthless as I aged. Maybe he was cursed?  So please don't kick me off the site for pointing out that the SBA was more respected by the coin's maker.  |
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Bedrock of the Community
United States
11951 Posts |
Go ahead Jbuck ..... Kick the hater out ...  Well ... At least give him a time out |
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Moderator
United States
188924 Posts |
I never said the SBA was ugly, just not as pretty as her bigger brother.  |
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Replies: 36 / Views: 4,855 |
First Page
Posted 07/07/2016 1:10 pm
