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Lack Of Ike Bags? End Of Eisenhower Dollars?

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Pillar of the Community
United States
1804 Posts
 Posted 12/30/2014  10:20 am Show Profile   Bookmark this topic Add Domain555 to your friends list Get a Link to this Message
I keep hearing from my banker(s) that something has changed in ordering $1,000 bags of Ike dollars.

This year I was able to get seven $1,000 bags. Then zippo.

As I listen to the same ol' story, there is a palpable creepiness in the air, as they try to explain it all away.

I am beginning to have funny thoughts, about the FED-CASH system melting-destroying-voiding our beloved IKEs.

Paranoia?

Nothing good would come from this, but one thought. The IKEs you have in hand will instantly be worth more.

Question for all CCFers. When was the last time you got a fresh $1,000 bag from your bank?



Valued Member
United States
100 Posts
 Posted 12/30/2014  11:10 am  Show Profile   Bookmark this reply Add mritchie77 to your friends list Get a Link to this Reply
Why would they be melting them? I doubt the metal content would even be worth the time and money spent on collection, transportation, and melting instead of them just buying new materials to make the current coinage.
Pillar of the Community
United States
1804 Posts
 Posted 12/30/2014  11:24 am  Show Profile   Bookmark this reply Add Domain555 to your friends list Get a Link to this Reply
xxxxxx77


Quote:
Why would they be melting them? I doubt the metal content would even be worth the time and money spent on collection, transportation, and melting instead of them just buying new materials to make the current coinage.


Your point is correct and valid.

Nutty me is in the twilight zone, that the CI and FED-CASH system just may want to get them out of the system.

Example: Many folks want to get rid of CENTS (pennies.)

(IKEs), Be it melting-destroying-voiding-freeze-store-ignore.

Just too much trouble. When I was getting them for FACE, the system was beset with charges from here to there and back.
Valued Member
United States
272 Posts
 Posted 12/30/2014  11:31 am  Show Profile   Bookmark this reply Add loganjonathan to your friends list Get a Link to this Reply
I asked my bank about an hour ago and they said that the last time they got a $1,000 bag of Ike's was 9 months ago and that the Government is starting to stock pile them. I trust the source because he is the head of the local bank and he's been my friend for about 5 years and he is also a huge numismatic
Pillar of the Community
United States
1804 Posts
 Posted 12/30/2014  11:56 am  Show Profile   Bookmark this reply Add Domain555 to your friends list Get a Link to this Reply
loganjonathan

Thank you for your input


Quote:
I asked my bank about an hour ago and they said that the last time they got a $1,000 bag of Ike's was 9 months ago and that the Government is starting to stock pile them. I trust the source because he is the head of the local bank and he's been my friend for about 5 years and he is also a huge numismatic.


As of this moment, none of my ikes are for sale. . Or at least until I can get my head around this.

Sure will not SPEND any more.

Valued Member
United States
272 Posts
 Posted 12/30/2014  11:59 am  Show Profile   Bookmark this reply Add loganjonathan to your friends list Get a Link to this Reply
I asked him to save as many as he could so we have a little collection going on. I give it about 6 months and those price for Ike's is gonna skyrocket
Pillar of the Community
United States
1192 Posts
 Posted 12/30/2014  12:11 pm  Show Profile   Bookmark this reply Add Bertensgrad to your friends list Get a Link to this Reply
They probally just don't feel like transporting them right now. I'm sure they will eventially sell them like the Morgan dollars.
Valued Member
United States
272 Posts
 Posted 12/30/2014  12:14 pm  Show Profile   Bookmark this reply Add loganjonathan to your friends list Get a Link to this Reply
If thats the case then the value of the Ike's will definately go up, but noboody will circulate those anymore because they know that they are worth alot, so the chances of you walking into a bank and finidng Ike's is going to be very slim
Pillar of the Community
United States
1804 Posts
 Posted 12/30/2014  12:15 pm  Show Profile   Bookmark this reply Add Domain555 to your friends list Get a Link to this Reply
Loganjohathan


Quote:
I asked him to save as many as he could so we have a little collection going on. I give it about 6 months and those price for Ike's is gonna skyrocket


I've been buying PEGGERs, and giving a good price for them. (I do PEGGERs)

Maybe a better straggly is buying crummy stuff at face or near face.

Valued Member
United States
272 Posts
 Posted 12/30/2014  12:19 pm  Show Profile   Bookmark this reply Add loganjonathan to your friends list Get a Link to this Reply
Yeah it probably is, but then you have more quantity then quality and that might become a issue in the future
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United States
1804 Posts
 Posted 12/30/2014  12:27 pm  Show Profile   Bookmark this reply Add Domain555 to your friends list Get a Link to this Reply
loganjonathan


Quote:
If thats the case then the value of the Ike's will definately go up, but noboody will circulate those anymore because they know that they are worth alot, so the chances of you walking into a bank and finidng Ike's is going to be very slim


(1) --- Glad I started this thread.

(2) --- Glad I have a stake in Eisenhower dollar collecting. Who knows, If the power brokers take them out or LIMIT them in any way, they will in fact appreciate.

Would it not be funny if CULL IKEs started to sell near (or higher) than CULL Morgans & Peace dollars?


Valued Member
United States
272 Posts
 Posted 12/30/2014  12:30 pm  Show Profile   Bookmark this reply Add loganjonathan to your friends list Get a Link to this Reply
OMG that would be nice for me thats for sure I have about 25 of those just sitting in my "coin box" but if they do I bet all the Morgan and Peace dollar collectors would be real happy with the Ike's going up
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United States
3640 Posts
 Posted 12/30/2014  2:05 pm  Show Profile   Bookmark this reply Add smokeriderdon to your friends list Get a Link to this Reply
Never. There is not a single bank in the greater DC area that even knows what an Ike is let alone being able to order them. I have asked at so many different banks and branches I lost count. I am amazed that you ever got any.
Pillar of the Community
United States
1697 Posts
 Posted 12/30/2014  2:18 pm  Show Profile   Bookmark this reply Add ErrorCoins222 to your friends list Get a Link to this Reply
I know very little about the system used for storing and releasing Ike dollars to the public, but this decision makes nothing but sense to me.

Storage for these dollars is costly. Additionally, the very few people that are able to get their hands on them through the "system" are searching them for their own benefit, not for actual circulation. Basically, the Ike dollar has had little actual use in its "useful life".

As to the value of Ike dollars, I see no direct change. The dollars have never been that popular and the Ike dollars that are/were being stored by the Reserve have never been very accessible to the public anyway.

They should do the same for the SBA, Sac. and Pres. dollars too, IMO.
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United States
1158 Posts
 Posted 12/30/2014  2:22 pm  Show Profile   Bookmark this reply Add tkbslc to your friends list Get a Link to this Reply
I don't follow the logic in this thread. Just because they are no longer commonly stocked at banks and bank suppliers, doesn't mean they will become rare. When was the last time you could order a roll of Peace dollars at the bank? And yet ugly or common Peace dollars sell for a few percent over silver melt. Meaning they are extremely common and have almost no collector value. An Ike is even below that level because it has no precious metal (outside the blue/brown mint sets) and was minted in very high quantity.

They are not stocked due to lack of demand, which means lack of stock will not increase demand, but meet it. If that makes sense. Collector demand for high grade Ike's will not change as it would not really be influenced by roll searching circulated coins anyway.
Edited by tkbslc
12/30/2014 2:23 pm
Pillar of the Community
United States
1804 Posts
 Posted 12/30/2014  4:48 pm  Show Profile   Bookmark this reply Add Domain555 to your friends list Get a Link to this Reply
tkcslb


Quote:
I don't follow the logic in this thread. Just because they are no longer commonly stocked at banks and bank suppliers, doesn't mean they will become rare.


Ultimately, that will depend on what happens to the Millions and Millions of IKEs.


Quote:
When was the last time you could order a roll of Peace dollars at the bank? And yet ugly or common Peace dollars sell for a few percent over silver melt. Meaning they are extremely common and have almost no collector value.


Anyone-someone may want to stack Morgans, or Peace just for the AG, and there is (about) $5.00 numismatic(?) value over spot, for cull cartwheels. Respectfully, I think collectors who only can afford cull Morgans are still worthy of being a noble collector.


Quote:
An Ike is even below that level because it has no precious metal (outside the blue/brown mint sets) and was minted in very high quantity.


Cents have no PM, but that's no problem for those collectors.


Quote:
They are not stocked due to lack of demand, which means lack of stock will not increase demand, but meet it. If that makes sense.





Quote:
Collector demand for high grade Ike's will not change as it would not really be influenced by roll searching circulated coins anyway.


I have opened seven $1,000 Ike bags. Most (about 65%) was stinko. I am keeping the rest. Time will tell.

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