grey bag of ikes?
 

anybody ever get a grey back of ikes? 2k worth. LMK when, I am thinking these must be rare these days. any clue about availability? Id call my bank and have them ring the fed and ask but I dont want to just waste their time. I am thinking that since everybody's been pulling them out of circ these must be rare, and I'll bet dealers have calls in to get them too.

Re: grey bag of ikes?
 

Half the tellers don't know what an Ike is--their eyes get real big if you show them. :dong:

Re: grey bag of ikes?
 

Not sure what a grey bag of Ike's really is but....

Common Ike dollars are not rare. They have been hoarded by the public thinking they might become valuable one day. Most banks do not have them and unless a customer cashed some in at face value, they never see them either. I will come across some at the banks from time to time. I buy them when I can as I can usually resell for $1.05 each without any problem.

Ike's can be ordered in $1000 face bags (might be $2000 now that I think about it) by the banks. 99.9% of bank branches will tell you this is impossible or will order for you only to receive the gold colored dollars. Finding a branch to order you Ike's is very, very difficult but they ARE out there. On another forum I read, some coin guy's will order them looking for the proof silver Ike's or the super rare Peace dollar pulled from circulation. It happens but pickings are extremely slim. At that point you have 1K in Ike's and if you don't have a way to sell the commons for profit, you either spend them or turn them back into another bank branch. One way to get black balled at a bank in a hurry is to order coin, search them, and dump them back at the same branch.

Re: grey bag of ikes?
 

here I can and do sell them at the flea market for $20 a roll or will trade fo anything of value, CR

Re: grey bag of ikes?
 

WV, mmm, beautiful country, thanks for your reply. I've been to a big flea market in Sevierville when we were down at Pigeon Forge for a little vacation time.

Do you know what fed bank they got them from?

I read that the bank has to call the fed ahead and ask. If they place an order for them and they dont have any it will be filled with golden dollars. There is a fed circular about this linked at another coin website. Forget which.

Re: grey bag of ikes?
 

A roll of Ike's have a $20 face value to begin with.

Re: grey bag of ikes?
 

correct victor they originally came in twenty dollar paper rolls.Ive only seen one of those that I snatched from a friendly teller last year.now I can ocasionally buy a bag of 1K from one of my banks and I roll them up in lots of ten using brown paper grocery bags.I think the Fed branch is in Richmond. CR

Re: grey bag of ikes?
 

The coins are not rare, and they will never be worth anything because they are CLAD!!! Clad coins will never have serious value compared to their PM bretheren. A clad coin's value is derived only as it's worth to a collector, and nothing more.

On a side note, I was watching the home shopping networks coin show on TV and they were selling Ike dollar sets (every date in a nice case for $399!!!!! Can you believe it!!!) They were shamelessly comparing them to the silver peace and morgan dollars, never once explaining that while the peace dollars were silver, these were clad. Not once! I feel bad for the suckers who bought those sets.

Re: grey bag of ikes?
 

Those Ike Dollar sets do contain all of the 40% silver Ikes as well. 71-S, 72-S, 73-S, 74-S, and 76-S. Also, the proof 40%versions as well. There are some rare ones included in those sets as well, type 1 and 2 coins from certain years. $399.00 is a rip off though. You can get them on Ebay for around $230.00.

Re: grey bag of ikes?
 

a fool and their money will soon part ways.


T

Re: grey bag of ikes?
 

The "Grey bags from the fed" are what is rare, not Ikes. Thats the first point I want to correct which you apparently misinterpreted.

Secondly, it is objectively untrue that a coin will never be worth anything because it is clad. The value of a coin is determined by market forces. Collectors bid up certain types of coins and coin collectors drive the prices of many coins into the stratosphere. If you stop for a minute and look at the economic magnitude of a lot of other non-coin related "collection" markets then you might realize that "collecting things" is a major human activity and accounts for market values in the many billions if not trillions if we are talking about art like paintings and sculpture and artifacts and so forth.

The art of studying and engaging in coin collection and appreciation is called numismatics. If you never heard of that google it and look it up before you make such sweeping generalizations and calling people suckers.

Re: grey bag of ikes?
 

Clad or not, if you have a complete high grade collection of all Ikes, proof and BU, it's worth something. And that something's a lot more than face value.

Re: grey bag of ikes?
 

they are right that Ike collections in BU go for about 230 and that price has held stable the past year or so in a 10% range