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Ike Dollars From A Bank

 
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Bedrock of the Community

United States
18637 Posts
 Posted 05/23/2019  9:34 pm Show Profile   Bookmark this topic Add just carl to your friends list Get a Link to this Message
This is the second time a teller at one of the banks I go to said are you still interested in those large dollar coins. I said yes and she asked if I wanted all $300 worth of them all in paper rolls. Last time it was $280 worth and this time $300. She told me it is from the same person all the time and thinks so far he has brought in about a thousand dollars worth in about three months. All so far have been in the 70's and all in really great condition. Sure is odd since he could have sold them on ebay for way more than face.

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just carl
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United States
13490 Posts
 Posted 05/23/2019  9:46 pm  Show Profile   Bookmark this reply Add Spence to your friends list Get a Link to this Reply
Nice to pick these up--any S mints in there?
"If you climb a good tree, you get a push."
-----Ghanaian proverb

"The danger we all now face is distinguishing between what is authentic and what is performed."
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Pillar of the Community
United States
1902 Posts
 Posted 05/23/2019  10:37 pm  Show Profile   Bookmark this reply Add Greasy Fingers to your friends list Get a Link to this Reply
I'm starting to use a different branch (old branch -cold tellers not willing to give customer service)..the very nice teller asked me why I was interested in large dollar coins and halves plus my box of cents..during our conversation she told me an older man deposited SLQs and Walker halves,she informed him that they were worth more than face value and could get more from a coin shop or pawn shop..his answer was "didn't want to go through the hassle"...She then told me they tried to give them away to customers but nobody wanted them all,so they slowly distributed them when people would cash checks...man did I miss out..wish I had changed branches a few months earlier..So I would guess if they have no one to pass them on to..and don't need the extra value...easier to just deposit..
Valued Member
United States
220 Posts
 Posted 05/23/2019  10:52 pm  Show Profile   Bookmark this reply Add mikem007 to your friends list Get a Link to this Reply
What kind of grade would you estimate you are seeing from those Ike's?

I cut well over a hundred Ike's out of mint sets. They're mostly junk at approx MS63 at best. I've been dumping them at my local bank as face value deposit. Based on what I'm reading on this site I might try an eBay listing at face value opening bid. Maybe 50 at a time in a single auction.

I sent one Ike to PCGS, the best that I've seen so far, and it came back at MS64.
Pillar of the Community
United States
1856 Posts
 Posted 05/24/2019  12:23 am  Show Profile   Bookmark this reply Add ratman4762 to your friends list Get a Link to this Reply

Quote:
Sure is odd since he could have sold them on ebay for way more than face

I've sold them on Ebay when I found them at banks. Sometimes I got way over face and sometimes I didn't. It was a crap shoot. Nice pickup though. Been a long while since I got a big score of Ikes.
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United States
3790 Posts
 Posted 05/24/2019  05:14 am  Show Profile   Bookmark this reply Add fistfulladirt to your friends list Get a Link to this Reply
The last batch I turned down was about 165. Out of the hundreds I came across, nothing interesting. I ended up giving them out as tips at restaurants. A buddy also takes them on overseas vacations to give the locals tips.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
Bedrock of the Community
United States
18637 Posts
 Posted 05/24/2019  08:55 am  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply

Quote:
Nice to pick these up--any S mints in there?

Yes and lots of them.

Quote:
What kind of grade would you estimate you are seeing from those Ike's?

Mostly all in way above average condition.
What gets me is whoever has been dumping these at that bank also purchased pre made paper rolls for those. That means he not only got face value for those coins but lost money due to buying paper rolls to put them in. And lots of time putting those in the paper rolls. I'll look through them and give all to my Grand Daughter.
just carl
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United States
588 Posts
 Posted 05/24/2019  09:01 am  Show Profile   Bookmark this reply Add CitationSquirrel to your friends list Get a Link to this Reply
And that, ladies and gentlemen, is why you need to develop a good relationship with your local bank tellers.
Pillar of the Community
United States
1593 Posts
 Posted 05/24/2019  09:07 am  Show Profile   Bookmark this reply Add Zurie to your friends list Get a Link to this Reply
I brought a large batch of Ikes to the bank last year. After eBay fees, PayPal fees, and shipping, it wasn't worth the time and hassle of selling them on eBay. The teller first suggested I put them through their coin counting machine, and I can tell you that doesn't work.
Pillar of the Community
United States
2739 Posts
 Posted 05/24/2019  09:40 am  Show Profile   Check Darth Morgan's eBay Listings Bookmark this reply Add Darth Morgan to your friends list Get a Link to this Reply

Quote:

Quote:
Nice to pick these up--any S mints in there?

Yes and lots of them.


Wait, so you mean there were proof Ikes in the lot? Silver business strikes? I'm intrigued.


Quote:
sent one Ike to PCGS, the best that I've seen so far, and it came back at MS64.

Our resident expert on modern clads, cladking, will tell you that finding gem Ikes (MS65 and up) in Mint sets is much more difficult than people realize. These coins just weren't minted with great care, and minting such large numbers of them was a real strain on the machinery. A silver dollar sized Cu-Ni planchet? Those poor dies.....

This is why VEDS (very early die state) Ikes are highly prized among Ike collectors. When all the device details are full and razor sharp..... well, they're a different animal altogether.
My Eisenhower dollar Complete Variety Set, Circulation Strikes and Proof ( PCGS Registry) - https://www.PCGS.com/SetRegistry/do...edset/119137
Darth Morgan - "The Other Ike dollars" Showcase: https://www.PCGS.com/setregistry/showcase/3354
Edited by Darth Morgan
05/24/2019 09:45 am
Bedrock of the Community
United States
15922 Posts
 Posted 05/24/2019  09:52 am  Show Profile   Bookmark this reply Add Conder101 to your friends list Get a Link to this Reply

Quote:
A buddy also takes them on overseas vacations to give the locals tips.

Sounds like a way to stiff the locals. What are they going to do with them? Businesses in tourist areas may take US paper money, but they are unlikely to take Ike dollars. The loca banks won't take them, and neither will foreign exchange places. The locals are probably just stuck with them.
Gary Schmidt
Bedrock of the Community
United States
18637 Posts
 Posted 05/24/2019  12:58 pm  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply
Barely started going through them and came across a 1973D. Supposedly only issued in Mint Sets. Many are in fantastically great condition. Still can't believe people just dump stuff like this at a bank. However, as pointed out before, if using ebay, ebay costs, paypay costs, shipping costs. However, if I give them to my Grand Daughter, age 12, and she saves them for a long time, might be really worth something.
just carl
Pillar of the Community
United States
2739 Posts
 Posted 05/24/2019  2:18 pm  Show Profile   Check Darth Morgan's eBay Listings Bookmark this reply Add Darth Morgan to your friends list Get a Link to this Reply

Quote:
Barely started going through them and came across a 1973D. Supposedly only issued in Mint Sets.


The issues of '73 made it into bags. Back in 2001 Brian Vaile handled a 1000-coin bag of 1973 Ikes. I can't remember if it was Philly or Denver. This is mentioned in the Guide to US Modern Dollar Coins. I'll have to look it up again.
My Eisenhower dollar Complete Variety Set, Circulation Strikes and Proof ( PCGS Registry) - https://www.PCGS.com/SetRegistry/do...edset/119137
Darth Morgan - "The Other Ike dollars" Showcase: https://www.PCGS.com/setregistry/showcase/3354
Pillar of the Community
United States
524 Posts
 Posted 05/24/2019  9:55 pm  Show Profile   Bookmark this reply Add Ballyhoo to your friends list Get a Link to this Reply
Wow! That's a lot of dollars from one person. And I thought I had a hording problem.
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United States
78214 Posts
Pillar of the Community
United States
3790 Posts
 Posted 05/25/2019  06:45 am  Show Profile   Bookmark this reply Add fistfulladirt to your friends list Get a Link to this Reply

Quote:
Sounds like a way to stiff the locals. What are they going to do with them? Businesses in tourist areas may take US paper money, but they are unlikely to take Ike dollars. The loca banks won't take them, and neither will foreign exchange places. The locals are probably just stuck with them.
Heaven forbid! Maybe they are just thrilled to receive a huge coin they've never seen before. But I get what you're saying.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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