Coin Roll Hunting or Ike Dealing?

Axecutioner · Dec 3, 2011

My pickup bank told me today that they would be able to order rolls of large dollar coins if I needed them. I didn't get any other details. Unfortunately, the next order would arrive Thursday and I fly home for Winter break Wednesday and won't be back for another 3 weeks, but would this possibly be more profitable than CRH'ing? I could probably just sell the ikes for ~1.3x face on Craigslist/eBay and make a fortune if I got high enough quantity going?

Just looking for some opinions.

n8dagr8345 · Dec 3, 2011

Axecutioner said:
My pickup bank told me today that they would be able to order rolls of large dollar coins if I needed them. I didn't get any other details. Unfortunately, the next order would arrive Thursday and I fly home for Winter break Wednesday and won't be back for another 3 weeks, but would this possibly be more profitable than CRH'ing? I could probably just sell the ikes for ~1.3x face on Craigslist/eBay and make a fortune if I got high enough quantity going?

Just looking for some opinions.

Ive had ads up on Craigslist trying to sell Ikes and I have not gotten any response. I am a bit weary of Ebay. Shipping, fees and other legalities take the fun and thrill out of it for me! I LOVE the monetary reward of this, but ultimately for me its about the fun of the hunt and dump. Ive had good experiences and bad, and lots of fun stories and times with friends dumping my coins! If you do find a good place to sell the IKEs its worth a try! I am sure you can find someone to back you with some money if you cut them in on the profits.
N8

n8dagr8345 · Dec 3, 2011

I mean for me, this is similar to the hoarding of copper cents. If I had a place to unload them, I would have no trouble turning through all the coins as I have a very good relationship with a few banks.
Supply and DEMAND. If you can find the demand, DO IT!

dossier · Dec 3, 2011

I'm one of the people who has actually sold 100ikes at 1.30 each on craigslist. I came across another 300ikes all at one bank so I took them all. Looked picked over, not a single '73 but they're not really worth more but some people keep them since they minted only 2-3mil~ overall compared to 50mil for some years. I weighed every one of them, no silver. I have a feeling that teller sorts through them. She was very vague about where they came from too. Another branch.... lol right. They transfer ikes allk the times I'm sure :icon_scratch:

...

Anywho I haven't been able to sell any since that one time.

BuffaloBoy · Dec 3, 2011

Nothing wrong with getting ikes at face value and the possibility of finding silver dollars. In the worst case, you can spend them for face value or cash them into your dump bank, though the bank may hate you after that :P

SilverFace · Dec 3, 2011

I've had limited results selling Ike's on CL also. I managed to sell 115 of them for a small profit a couple of weeks ago from a CL ad but I may have been lucky to do so because I only got one responder after a week. So as was stated above your selling volume and profits would probably be limited with CL and you would likely have better luck with demand and could get a little more money on ebay but the fees would take away some of your profits.

It might be worth it to at least order one box and see if you might get lucky with any keepers and then try your luck selling the rest (probably all) and just see how it goes.

Good luck

TheCoinFinder · Dec 5, 2011

worth trying :wink:

Local_coins · Dec 5, 2011

TheCoinFinder said:
worth trying

Definitely. What could it hurt? Might come into rolls of Morgans and Peace dollars...

What does your local coin store pay for them? Even if you get 1.05 you're making money and hunting silver.

Good luck!

lockespop · Dec 5, 2011

My limited experience with Ike's is very mixed. I just started CRH about a month ago, and in that time I've come across quite a few. The first couple of weeks I didn't realize anyone would be willing to pay over face value for them, so I just dumped them like clad halves. (Probably dumped $300, at least, over the first couple of weeks)

Last week I came into $150 at one time, and decided to make a craigslist post for them. I immediately got 8 responses, and was able to unload all 150 for $185. One day turnaround for a $35 profit...not bad. The same day I sold that 150, I collected another $150 worth on another road trip. Made a craigslist ad again...same price...absolutely no response. Even the people that contacted me one day earlier for the first $150 weren't interested in this batch!?!?!?!?!

Anyway, if you can find a buyer for them, great, it's worth a try. If not, turn around and find a place to dump them. Nothing to be lost.

Good luck. I wish my bank would do the same! Could be fun!