Ikes and copper pennies

[CC-Hunter]

Are Ikes like copper pennies? What I mean is that if you want to make some money off the coins rather than hoard them, is it best to line up someone to sell them to before you spend a lot of time and money buying them? Or, are Ikes like halves, in that you have a decent chance of finding some Ag if you search through bank orders (which come in a minimum order of $1000) and you don't really care about making a profit on the clad?

I scored 36 Ikes at one of my local banks yesterday, all clad and in circulated condition. I have the opportunity to order $1000 of Ikes from a bank, but I appreciate hearing from those who search Ikes in size why they do it. At this point I don't think I'm interested in collecting all the varieties of clad Ikes (I already collect a lot of other U.S. coins). Is there a decent chance of finding Ag? Is it hard to sell the common clad at a profit? I imagine dumping them at banks is tough.

 

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[PhattyB]

Are Ikes like copper pennies? What I mean is that if you want to make some money off the coins rather than hoard them, is it best to line up someone to sell them to before you spend a lot of time and money buying them? Or, are Ikes like halves, in that you have a decent chance of finding some Ag if you search through bank orders (which come in a minimum order of $1000) and you don't really care about making a profit on the clad?

I scored 36 Ikes at one of my local banks yesterday, all clad and in circulated condition. I have the opportunity to order $1000 of Ikes from a bank, but I appreciate hearing from those who search Ikes in size why they do it. At this point I don't think I'm interested in collecting all the varieties of clad Ikes (I already collect a lot of other U.S. coins). Is there a decent chance of finding Ag? Is it hard to sell the common clad at a profit? I imagine dumping them at banks is tough.

You search "larger dollars" for several reasons:

King Reason: The rare Morgan, Peace or ASE

Reason 2: 40% Ikes
Reason 3: Proofs and Type varierty
Reason 4: Marginal premium to re-sell ($1.05-$1.50 each to certain buyers)
Reason 5: Spending them is FUN

 

[Numismaniac]

I like looking for silver in the dollars. Have only ever found one Morgan and one 40% Ike. But I like looking for 72 type twos (2 so far), 71D FEVs (1 so far) and other stuff like that. As far as dumping the clad, I've sold some on ebay for a small profit, not much though. One time when I just didn't feel like doing the work on ebay, I sold $250 to a pawn shop. Only got face, but it was fast and easy.....

HH

 

[twiasp]

I am thinking of ordering some Ikes someday, but wondering how you guys dump them. Do coin counters take them or do you just find a bank that bags and sends them back to brinks for recounting to handle dumps?

 

[Numismaniac]

Coin counters don't take them. Have to take them to a friendly teller.....

 

[sagittarius98]

Coin counters don't take them. Have to take them to a friendly teller.....

That is why the eBay route is popular, you can't roll them or dump them in a coin counter, so you can't get the bankroll back easily.

 

[chadsdad01]

I ordered a bag of 1000 ikes last Thursday and got them this past Tuesday. I found 5 American Silver Eagles, 4 Morgans, 1 Peace, 4 - 40% ikes, 1 Hungarian Silver Taler, a 73 clad, and a 74 clad proof. It was awesome, and so I ordered 3000 more. Then I sold the remaining 983 to a bank customer in about 10 minutes. People love seeing them and buying them.

 

[Iamrussell]

I ordered a bag of 1000 ikes last Thursday and got them this past Tuesday. I found 5 American Silver Eagles, 4 Morgans, 1 Peace, 4 - 40% ikes, 1 Hungarian Silver Taler, a 73 clad, and a 74 clad proof. It was awesome, and so I ordered 3000 more. Then I sold the remaining 983 to a bank customer in about 10 minutes. People love seeing them and buying them.

Wow that is a great find-

 

[Wilmingtonsilver]

Over the last 3 weeks I have been spending a $200 dump of Ikes someone made at one of my banks. I got a call from the teller and went over to pick them up. I love putting them back in circulation. Especially when I go to the movie theater and the kids working there look at them with that WTH?!?! face. I had one kid ask what they were one time because he had never seen them. That's always fun.

 

[50cent]

You search "larger dollars" for several reasons:

King Reason: The rare Morgan, Peace or ASE

Reason 2: 40% Ikes
Reason 3: Proofs and Type varierty
Reason 4: Marginal premium to re-sell ($1.05-$1.50 each to certain buyers)
Reason 5: Spending them is FUN

badabing #5 = my reason

 

[tlowery04]

I've seen people selling them off on craigslist when i lived in AZ. 100 FV for 125 in folding money

 

[sagittarius98]

I ordered a bag of 1000 ikes last Thursday and got them this past Tuesday. I found 5 American Silver Eagles, 4 Morgans, 1 Peace, 4 - 40% ikes, 1 Hungarian Silver Taler, a 73 clad, and a 74 clad proof. It was awesome, and so I ordered 3000 more. Then I sold the remaining 983 to a bank customer in about 10 minutes. People love seeing them and buying them.

It was a great find, but don't post this in every thread about Ikes. Make your own thread.

 

[Joe777Cool]

It was a great find, but don't post this in every thread about Ikes. Make your own thread.

Huh? He didnt do anything wrong. Is this the way people acted to u when you first joined?

 

[chadsdad01]

Thanks Joe777Cool. I was simply sharing with others that $1000 bags of IKES can still be ordered from your bank. The bank simply has to call on your behalf to see if the armored car service can get them.

 

[jrf30]

I've seen people selling them off on craigslist when i lived in AZ. 100 FV for 125 in folding money

Some of those posts would be me. :-) And I still sell them for $125 per hundred. Every time I build up to $100 I put the post up, and have never failed in getting a buyer. :-) Hey - it's $25 profit for NO time spent, since I get them when I am at the bank pickin g up other coins anyway.

 

[CC-Hunter]

I sold 50 for $60, and the buyer came to me. I'd be happy to sell them again. Just need a good source for them. Teller tray Ike finds are way down.

 

[baddbluff]

Some of those posts would be me. :-) And I still sell them for $125 per hundred. Every time I build up to $100 I put the post up, and have never failed in getting a buyer. :-) Hey - it's $25 profit for NO time spent, since I get them when I am at the bank pickin g up other coins anyway.

You still have to run them through your RYEDALE & dump the zincolns tho right? That takes a little time. I would think you could get more than 125/10000 can't you ? Maybe 140-150?

 

[FloridaFinder]

You still have to run them through your RYEDALE & dump the zincolns tho right? That takes a little time. I would think you could get more than 125/10000 can't you ? Maybe 140-150?

I think he was talking about the Ikes. HH

 

[jd750707]

I would love to buy some, I have been trying to get some and its been a while since I found any in any quantity in the wild

 

[chadsdad01]

jd750707, hopefully my 2000 show up today. I have already been told that these are the last bags, so I'll have to hunt down another source. But I'll sell you a bunch if you want them.