ordering ikes in boxes

[thing]

I talked to a teller yesterday and they offered to order me a 1000 box of ike dollars. Has anybody tryed to order these coins? Any body have an idea on what my chances are?

 

[rydiggaahh]

i can only say that it is possible to get ikes ordered from my bank so im assuming many others as well. ive never done it but from what i can tell there is a small probability of finding any silver. mabey some 40% proofs. cant wait to find out what happens if you give it a try.

 

[AGCoinHunter]

So.... did we ever answer the question whether he was able to order them or not? Thing any updates?

 

[thing]

So.... did we ever answer the question whether he was able to order them or not? Thing any updates?

Not yet, one thousand is alot of money for me to tie up at the moment. But as soon as i am able I will give it a shot.

To bad banks wont give 5000 loans based on this hobby, then I could really have fun.

 

[coinmojo]

So.... did we ever answer the question whether he was able to order them or not? Thing any updates?

Not yet, one thousand is alot of money for me to tie up at the moment. But as soon as i am able I will give it a shot.

Tie up ? ? ?.... It's Money. Oder the Coin. Let the bank hold them for you. Buy what you can. Spend or cash them in at another bank. Buy the rest. It's a pretty simple concept.

Get the coins orderd, thats the most important thing. Plus we are all waiting to see if you will get The big dollar coins. If they are not than let the bank keep them. No sweat of your back.

Mojo

 

[DrDetector]

So.... did we ever answer the question whether he was able to order them or not? Thing any updates?

Not yet, one thousand is alot of money for me to tie up at the moment. But as soon as i am able I will give it a shot.

To bad banks wont give 5000 loans based on this hobby, then I could really have fun.

And the banks will give loans for this hobby, providing you have good credit. Silvercop did this and outlined it in a thread a while ago.

 

[XX]

As far as the federal reserve is concerned, dollar coins can only be ordered in $2000 increments, doesn't matter if they are large or small.

To order Ikes from the fed, the order is placed as a normal order for small dollar coins, but then the order is intercepted at the coin vault where large dollars are substituted. There is usually a special handling fee for this service imposed on the bank.

With Garda and other "high" volume depository institutions, the instructions to substitute the Ikes is often missed and the small dollar coins are shipped out instead. This can cause quite the headache for your bank as they have already been charged the special handling fee and need to call up the DI to get it refunded. DI's like Garda have crappy customer service, so the request for a refund can be a time consuming process.

Not all banks deal directly with the DI's, but rather they deal with smaller cash management services. Others may deal directly with the DI, but not have an account with the federal reserve. Often, the response in these situations is mixed. The company will most likely charge an even higher special handling fee for getting IKE's, but often will waive it if the company has "loose" Ike's on hand (aka an odd amount not equaling $1000) and the bank settles for the loose amount.

Every situation is different but I can tell you this

No coin rolling service rolls the Ike's anymore!

If you find rolled Ikes, they are either hand rolled, or they were rolled some 20 years ago and were never opened.

Good luck and I hope this helped clear a few things up for the OP.

 

[mistergee]

XX....sounds like you either did your homework or you have tried this before. soooo...which is it? were you successful?