I might have made a mistake

motto motto · Jun 2, 2009

I asked the teller if she had any large dollar coins and she said that someone had just turned in 40. I thought that I might have hit the jackpot until whe showed them to me. She had 40 Ikes. Did I make a mistake by leaving them at the bank? I don't have the capitol to just purchase coins and hold on to them if I can't turn a profit on.

SO! Did I make a mistake?!?

nyiangelo · Jun 2, 2009

It's fine as long as you didn't see any silver.

joad · Jun 2, 2009

It don't cost nothin to exchange their money for your money. Always a chance you may find a silver. I get them whenever I can just because they are fun to have and use. It always confuses the workers at fastfood joints when you pay with them. Great gifts for children too.

OmegaMan · Jun 2, 2009

No mistake
Trading dollars for dollars don't cost anything.

coinmojo · Jun 3, 2009

Yes you made a mistake.

Never pass on anything. you can always spend them. It is actually entertaining to see the reaction of kids a fast food joints when you spend them or anywhere for that matter, as noted above.

Mojo

goldencoin · Jun 3, 2009

If you wanted the trouble, you could have turned them. I've heard coin shops will buy them for $1.30....here is an ebay auction were they are selling for about $2.00 each http://cgi.ebay.com/Lot-of-25-Coins-Eisenhower-IKE-Dollars-0-silver-25_W0QQitemZ250432753805QQcmdZViewItemQQptZCoins_US_Individual?hash=item3a4ef4908d&_trksid=p3286.c0.m14&_trkparms=72%3A1205|66%3A2|65%3A12|39%3A1|240%3A1318|301%3A1|293%3A1|294%3A50

HH
-GC

jim4silver · Jun 3, 2009

You could have just returned them to another bank if they were rejects, just like you would with dimes, halves, etc.

To be successful in this you are gonna need a bigger bankroll than 40 bucks though. Volume is the key, except for the few lucky scores you might find here and there in customer rolls and such.

Jim

golden silver · Jun 3, 2009

In my opinion you should always buy when a teller offers you coin. For example, If I go into a bank and ask if they have half dollars and the teller says I have 3 dollars worth and I can see they are not silver I buy them anyway. Why? It makes them more willing to show the goods in the future if they know you are willing to take them off their hands. Many tellers hate counting the odd ball money that comes in. What I am saying is that I would have bought the dollar coins.

Golden Silver

ivan salis · Jun 3, 2009

40 bucks is 40 bucks --take the coins --tellers often hate to have to count and handle these odd ball type coins --- some might be from proof sets :wink:

there just as spendible as "regular" paper money --so your never "out" anything.

cyberdan · Jun 3, 2009

goldencoin said:
If you wanted the trouble, you could have turned them. I've heard coin shops will buy them for $1.30....here is an ebay auction were they are selling for about $2.00 each

I once had over $1000 in IKES and called more than 20 local coin stores. No one even wanted to pay face on them.

I tied selling some on feebay and took a loss after all those fees. I even offered as close to BU as possible and no duplicates. >:(

jim4silver · Jun 3, 2009

cyberdan said:
goldencoin said:

If you wanted the trouble, you could have turned them. I've heard coin shops will buy them for $1.30....here is an ebay auction were they are selling for about $2.00 each

Click to expand...

I once had over $1000 in IKES and called more than 20 local coin stores. No one even wanted to pay face on them.

I tied selling some on feebay and took a loss after all those fees. I even offered as close to BU as possible and no duplicates.

Why didn't you take them to a bank to cash in? You could have dumped a hundred here, hundred there.

The local coin stores I frequent will buy them at face, but will not pay a premium.

Jim

nyiangelo · Jun 3, 2009

Does anyone remember someone on here finding some Ikes awhile back. I think they bought a bag and they were a certain year (not silver), but sold them and made a killing. Anyone else remember this?