Where do all the Ikes go?

[kestrelia]

For a couple of weeks now I've been asking the banks I go to for Ikes. I've found 67. Still looking for four date/mints. I've been wondering though - where do all the Ikes go? They minted millions of them, presumedly lots are being returned to banks that don't have guys like me asking for them and get sent somewhere, but where? I haven't heard of any program to melt them down and I haven't found a bank that'll order them for me. How can I and others get at them?

Brian

 

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[cyberdan]

I've been wondering though - where do all the Ikes go?

They go under my bed at home. I have found almost 1000 of them and keep them in a plastic box. Believe me I can barely slide that box out everytime I add more IKEs. No way will I try and pick it up.

Lately though I have been thinking of taking them back for deposit. They are tying up a lot of hunting money. But it has definitely been worth it asking for them at every bank. (look at the last 3 lines of my sig line below )

If anyone wants to buy or trade make me an offer.

 

[Nick A]

I had almost $100 worth and sold them for $1.15 each.
Not a huge profit, but anytime you can buy something for $1.00 and sell it for more, that's good business. I bet if you do have $1000 you could get a better price for them for a "full bag" I'd call coin shops in the area and ask if any of them are paying over face for $1000 in Ikes. You might be surprised.

When asking for halves, I get offered Ikes quite frequently. Depends on my mood and how much cash I have if I get them or not... or how many points I can score with the teller for "taking them off their hands so they don't have to count them anymore" I might change my mind about Ikes after getting the 40% 71S earlier this week!

I would imagine it all depends on the armored car service servicing the bank. The armored car co will get them, so if they have them I'm sure you can order them. My guess is thought that the armored car co's send them back to the Fed. Just ask if the bank can order the large dollar coins for you and let them check. You never know, and it doesn't cost to ask.

 

[cyberdan]

I had almost $100 worth and sold them for $1.15 each.
Not a huge profit, but anytime you can buy something for $1.00 and sell it for more, that's good business. I bet if you do have $1000 you could get a better price for them for a "full bag" I'd call coin shops in the area and ask if any of them are paying over face for $1000 in Ikes. You might be surprised.

I might do that, thanks for the idea.

 

[packerbacker]

kestrelia, which ones are you looking for? I have about $120 worth I could check.

 

[diggummup]

I had almost $100 worth and sold them for $1.15 each.
Not a huge profit, but anytime you can buy something for $1.00 and sell it for more, that's good business. I bet if you do have $1000 you could get a better price for them for a "full bag" I'd call coin shops in the area and ask if any of them are paying over face for $1000 in Ikes. You might be surprised.

I agree.I don't know about the coin dealers though.I was in the bank a while back and a guy came walking in to pick up a couple boxes of halves.He was carrying a bag of loose Ikes in his hand.Turns out he runs the local coin shop across the street.He was depositing the Ikes for face value.I managed to buy some off of him before he deposited them.We started taliking about the silver halves we both look for and he was asking how much I sell them for etc.etc..He gave me his card at that point and told me to call or come in to his shop the next time I have some silver coins to sell because he could basically match the price I was getting off of Ebay and I wouldn't have to hassle with listing fees and shipping and so forth.I'm holding on to Ike dollars myself when I can find them.I figure someday they may get a premium.

 

[kestrelia]

packerbacker,

Thanks for the offer. I'm going to decline right now, because I'm really interested in seeing the best collection I can make paying face or less. Much appreciated, however.

B

 

[cyberdan]

I had almost $100 worth and sold them for $1.15 each.
Not a huge profit, but anytime you can buy something for $1.00 and sell it for more, that's good business. I bet if you do have $1000 you could get a better price for them for a "full bag" I'd call coin shops in the area and ask if any of them are paying over face for $1000 in Ikes. You might be surprised.

I might do that, thanks for the idea.

Well I made a big list of local coin stores and called at least a dozen. No one was interested in my 1000 IKES. I even contacted a few slot machine sales companies. Two said no, one declined because of the distance to ship and the others ignored me.

Starting soon they are all going back to my dump banks to free up some hunting cash. I will still ask for them because of the good luck I have had, but I will not hoard them anymore.

 

[packerbacker]

kestrelia.......I'd probably just send you one if I had one you needed. Free is a good price I think.

 

[Texas_Meteorite_Hunter]

Ikes are going on Ebay for $1.20 to $1.40 in lots of 10 to 100 with the sweet spot near 40. Thats where we need to unload them.