Rolls of Dollar coins - should I?

GarouLady · Jun 21, 2013

I'm wondering if anyone has gotten rolls of dollar coins. Not the goofy susan B or sagakewia (sp? sorry), but rolls of Ike's hopeing to find a morgan or peace dollar in the rolls? I was thinking about going to my dump bank and ask if they had any older dollar coins. If they are Ikes I have a LCS that will buy them for a $1.25 apiece. Just wondering. I got about 40 bucks to pay around with at the moment.

Sincerely, GarouLady

DaytonaRacer · Jun 21, 2013

Good luck with that. I've been asking banks for Ikes for a while now and managed only 1 clad in all of my efforts. I keep asking though because you never know.

deershed · Jun 21, 2013

We've only asked for Ikes twice,got 5 the first time and a roll the second time.

50cent · Jun 21, 2013

I get ikes all the time, I dont know what you people are talking about. And if there is a local coinshop paying $1.25 for a NORMAL ike, then he's going to go out of business, considering how many were minted. likely he is expecting a Type II or a 40%er ike, to be brought in one of these days he probably looks at a normal ike and says "sorry pal, the most this is worth is a $1, but I'll give you a wheat cent and a $1". Ikes are extremely common some have had success ordering them however 40%ers and type II 's are extremely hard to come by, I have yet to find a 40% after $1k in ikes, and I've found 3 Type II's (usually type II's are HARDER to find than a 40%er).

Spend them and have fun with them, thats what I do with the common ones.

GarouLady · Jun 22, 2013

Well I was thinking if I get rolls of Ikes or that size of dollar coins, someone might have put in morgan or peace dollar or even better a ASE. I don't take a lot of Ikes to my LCS. Just 5-8 that I have found and they give me that 1.25 per ike, but then I buy bullion, 90%s and my normal coins from them all the time, maybe its just their way to keep me coming. I send them business all the time. I joke with them that I should get a commision for every customer I send over. LMAO.

I just want to get more ASE without having to pay the premium that are at my LCSs. There was one coin show called Coins and Collectables but they moved and I don't know where nor what their phone number is now. They offered ASEs for 2 bucks over spot.A whole lot better than the 6-10 dollars over spot I have found at other LCSs.

Hugs and Luvs,
GarouLady

Twitch · Jun 22, 2013

I know I'm stating the obvious here, but if you have an outlet for IKE's at $1.25, buy everyone you come across and search them for 40%ers, varieties, NIFC's, older silver and ASE's. I've been through about ~$1,000 in IKE in the last 5 or 6 weeks. I left about 300 of them behind at a bank because I don't have a great outlet for them. At $1.25 each it's a no brainer.

ArkieBassMan · Jun 22, 2013

Good luck even finding Ikes. Your area may be different, but its rare that I run across any to buy. Even without the ability to sell them for $1.25, I'd still advise you to buy all you can find, even though I've probably searched ~2000 of them and am yet to find my first keeper.

My advice would be to wait until you have about 20+ and then trade them in at your LCS. Take the face value in cash to replentish your CRH funds and use the excess to get a little "free" silver.

Infowarrior · Jun 22, 2013

I find them pretty common... Havent found any 40% or 90% large from a bank, but I did buy a 2006 ASE for 1$, 2 months back.

Good luck finding actual rolls of them though... I havent seen any, they are all loose for me, or in envelopes.

My LCS pays 1.05 per, but after the last 100 I took in, he told me he doesnt really want them, so I obliged and just spend them... Although I did have decent luck putting them up on feebay before. Even though I still ended up with about 1.20 per, I just hate giving them my money though... outrageous

D1MES_101 · Jun 22, 2013

I was just at a bank and asked for large silver dollars. The teller next to me said he had a whole bunch. Turns out they were marked Susan b Anthony

FML I was so excited

FormerTeller · Jun 22, 2013

Always take them all! Absolute worst case scenario, you exchange them at another bank for no net loss.

cooper36 · Jun 22, 2013

Most coin shops sell ikes for 1.50 a peace.Sold a bunch to mine for 1.15 a peace. have gotton about 300.00 worth and no silver or errors. Good luck GarouLady

BuffaloBoy · Jun 22, 2013

I've been through thousands of dollars in ikes and have 3 real silver dollars to show. Its simply not worth it, if you think dumping half dollars is hard, wait until you try to unload a bunch of ikes! Lol

Twitch · Jun 22, 2013

BuffaloBoy said:
I've been through thousands of dollars in ikes and have 3 real silver dollars to show. Its simply not worth it, if you think dumping half dollars is hard, wait until you try to unload a bunch of ikes! Lol

Yeah I really like searching them but they're hard to unload.

mr.landpirate · Jun 22, 2013

What am I missing? Why can't you just deposit them in your account it just money. LP

Rascal · Jun 22, 2013

Just so happens I picked up two rolls of Ikes this afternoon. Not what I expected though because the other teller who was there earlier said she (the teller I got these from, who was out to lunch at the time) had "like, hundreds of them." The hundreds were regular small dollar coins also brought in by the same person.

I've gotten two bags of Ikes at $1,000 face each. First bag yield a Peace Dollar and 2 40% silver Ikes. The 2nd bag was a skunk. Now that I know about Type II's I buy every Ike I ever run across. Once my back recovers I'll not only search the boxes I have sitting here but return several $K worth and start over, and ask the bank to please, please, pretty please, find me another bag of Ikes.

Rascal

PS: I can return them at area casinos with no problem, but I also like using them for tips and smaller purchases, just to see the look on peoples' faces. :happysmiley:

fistfulladirt · Jun 22, 2013

mr.landpirate said:
What am I missing? Why can't you just deposit them in your account it just money. LP

It's up to the individual bank to accept them or not.

BuffaloBoy · Jun 23, 2013

A buddy of mine has gone through tens of thousands of ikes and has found minimal silvers.

Rascal said:
Just so happens I picked up two rolls of Ikes this afternoon. Not what I expected though because the other teller who was there earlier said she (the teller I got these from, who was out to lunch at the time) had "like, hundreds of them." The hundreds were regular small dollar coins also brought in by the same person.

I've gotten two bags of Ikes at $1,000 face each. First bag yield a Peace Dollar and 2 40% silver Ikes. The 2nd bag was a skunk. Now that I know about Type II's I buy every Ike I ever run across. Once my back recovers I'll not only search the boxes I have sitting here but return several $K worth and start over, and ask the bank to please, please, pretty please, find me another bag of Ikes.

Rascal

PS: I can return them at area casinos with no problem, but I also like using them for tips and smaller purchases, just to see the look on peoples' faces.

palidin20603 · Jun 23, 2013

I have been through about $400 worth of Ikes. I use them to pay for gas and other sundries. Everyone loves them in $20-$25 increments. I bought $200 at once and exchanged them for cash $25 at a time at 8 branches, even banks where I don't have accounts, sme tellers love them. I have found one $20 roll, all clad. I have never found a keeper other than what a teller showed me and kept for themsleves. HH

sagittarius98 · Jul 3, 2013

mr.landpirate said:
What am I missing? Why can't you just deposit them in your account it just money. LP

Coin counters don't accept them, and it is hard to find rolls to re-roll in. Therefore, it would need to be a bag dump, which is not always accepted by tellers.