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View Full Version : Anyone stack IKE dollars


silvernewb
11-03-2011, 09:49 PM
The reason I ask is I usually buy cad and us .80 silver dollars. I know the ike dollar is 40% but I had an opp to buy a hundred for 2 bucks each. Are these dead weight? like hard to sell or does silver have to be higher for buyers?

silverfire
11-03-2011, 09:54 PM
The reason I ask is I usually buy cad and us .80 silver dollars. I know the ike dollar is 40% but I had an opp to buy a hundred for 2 bucks each. Are these dead weight? like hard to sell or does silver have to be higher for buyers?

I know there are some who like to collect them, but I generally stay away

NathanDetroit
11-03-2011, 09:58 PM
Most Ike dollars contain no silver to my understanding. Some proofs do contain 40%.

If they were two dollars each you were wise to pass as they are only worth a buck.

If you were able to verify they were 40% then $2 is a steel.

I bought 7 Ike proofs (40%) in the brown case today as part of a lot I purchased for $10 each.

I then sold to LCS for $15 each. (Not sure why they paid that much).

Fagin
11-03-2011, 09:59 PM
The reason I ask is I usually buy cad and us .80 silver dollars. I know the ike dollar is 40% but I had an opp to buy a hundred for 2 bucks each. Are these dead weight? like hard to sell or does silver have to be higher for buyers?

You had an opportunity to buy 100 count, 40% Silver Ikes for $2.00 each? $6.00 each would have been a great deal if that tells you anything.

ibex66
11-03-2011, 09:59 PM
40%? Whats your plan? Melt them - no refiner in the world will touch them.

CashValueRecovery
11-03-2011, 10:04 PM
40%? Whats your plan? Melt them - no refiner in the world will touch them.

Swing and a miss! Tons of refiners take 40% coins.

silvernewb
11-03-2011, 10:07 PM
I did buy them , I am pretty sure 71-76 were 40% silver? I really have no plan I just rather be oh well down a hundred then thinking damn I should of bought them.

ibex66
11-03-2011, 10:09 PM
Swing and a miss! Tons of refiners take 40% coins.

Really who? I want names. Its to much work in energy to reduce crap like that.

Fagin
11-03-2011, 10:11 PM
I did buy them , I am pretty sure 71-76 were 40% silver? I really have no plan I just rather be oh well down a hundred then thinking damn I should of bought them.

Weren't they in the cellophane wrapper with the blue chip & blue envelope?

The Silver ones have an S mint if the mint mark is not there or it's not an s its not silver, but not all S mints are silver

silvernewb
11-03-2011, 10:14 PM
no they were in a bucket lol

ibex66
11-03-2011, 10:15 PM
no they were in a bucket lol

Thats a fail

Fagin
11-03-2011, 10:21 PM
no they were in a bucket lol

They were plain circulated non silver Ikes most likely. Weigh them, a silver ike is 24.59 grams

silvernewb
11-03-2011, 10:23 PM
gonna be a long night lol :(

Fagin
11-03-2011, 10:31 PM
Did the person who sold them to you tell you they were 40% silver?

silvernewb
11-03-2011, 10:36 PM
It was one of those friends of a friend type deals. Apparently the grandfather collected silver coins, I did buy morgans and some maples off them. I just wasn't aware of specific mints were silver. They claimed they had no idea, now Im thinking it was his actual junk bucket haha

NCCPC
11-03-2011, 10:45 PM
I know a lot of people love to hate wikipedia. However, it's a handy quick reference. For matters of Earth shattering importance, one could check further. But, for something as basic as this, it will do.

Ike Dollars with the S mint are 40% silver and each contains 0.3164 ounce of Ag. Refining is irrelevant. Plenty of people will pay for them as is, and getting 80% of melt is about par for the course. Unless they're Gem, then more. But, since they were in a bucket ... well, coinflation puts their melt at $10.85 at the moment. Subtract 20-30% due to their being only 40% and you've still got a heck of a bargain at $2 each.

Quagmire420420
11-03-2011, 10:51 PM
Swing and a miss! Tons of refiners take 40% coins.

i know this to be true because my LCS showed me war nickels he was sending to the refiner

Höfner
11-03-2011, 11:11 PM
they are most likely clad Ikes... 40% Silver Ikes were not widely minted and were only produced for collectors and proof sets. 99% of Ikes you see in circulation have no silver in them and are worth a dollar.

Fagin
11-03-2011, 11:12 PM
I know a lot of people love to hate wikipedia. However, it's a handy quick reference. For matters of Earth shattering importance, one could check further. But, for something as basic as this, it will do.

Ike Dollars with the S mint are 40% silver and each contains 0.3164 ounce of Ag. Refining is irrelevant. Plenty of people will pay for them as is, and getting 80% of melt is about par for the course. Unless they're Gem, then more. But, since they were in a bucket ... well, coinflation puts their melt at $10.85 at the moment. Subtract 20-30% due to their being only 40% and you've still got a heck of a bargain at $2 each.

Not all s mint Ike's are Silver & the Silver Ikes were never released in circulation so you wouldn't find them in a bucket. The $10.85 on Coinflation takes all metal content into consideration so subtracting & getting 20-30% less would be hard to do. I wouldn't sell mine for melt.

NCCPC
11-03-2011, 11:25 PM
Not all s mint Ike's are Silver & the Silver Ikes were never released in circulation so you wouldn't find them in a bucket. The $10.85 on Coinflation takes all metal content into consideration so subtracting & getting 20-30% less would be hard to do. I wouldn't sell mine for melt.
I realize coinflation takes the Cu into consideration. But, giving the 20-30% discount for the low silver content MORE than offsets that.

So far as "not for circulation" not ending up in a bucket .. nonsense. I've been employed by a LCS and saw it all the time. Unless they were outstanding examples, they were treated like junk.

I don't have many. The ones I do have are in original mint packaging and I'm not ready to sell them for melt either. Then again, I didn't buy them in a bucket.

I checked, and you are correct about not all S mint Ikes being silver clad.

JOEBRENNER
11-03-2011, 11:38 PM
Bet you a bucket of Ikes they have no silver in them for $2, you just bought yourself $1 coins for $2 each. Want some more? I will sell them.

NCCPC
11-03-2011, 11:42 PM
Bet you a bucket of Ikes they have no silver in them for $2, you just bought yourself $1 coins for $2 each. Want some more? I will sell them.
Yeah, I'd have to agree ... sorry to the OP.

Did the seller give the impression they were 40%? :rolleyes:

Fagin
11-04-2011, 12:06 AM
But, giving the 20-30% discount for the low silver content MORE than offsets that.

That makes no sense. The $10.85 reflects the discount already for silver content. So why discount it again.

So far as "not for circulation" not ending up in a bucket .. nonsense. I've been employed by a LCS and saw it all the time. Unless they were outstanding examples, they were treated like junk.

How much do these sell for?

namwalker
11-04-2011, 12:07 AM
no they were in a bucket lol

According to Coinfacts, the only 40% silver eisenhower's have the Sacramento mint mark and then only for specific dates. Check it out.

I have a number of clad eisenhowers that I use to play poker with. If you have purchased these coins and they were purported to be silver better check them out with someone who knows. Noone is going to sell a 40% silver coin that cointains $11 of silver at today's prices for $2. No matter how they like you. Check again.

Like I said I have a number of Eisenhower's that I could sell to you for only $1.50 but I won't take advantage of you. The coin isn't worth that much unless you want 40% silver and then my price to you would be $11.

It pays to do you own due diligence. Sorry my friend.

Fagin
11-04-2011, 12:12 AM
According to Coinfacts, the only 40% silver eisenhower's have the Sacramento mint


My information states, San Francisco

maxwellsilverhammer
11-04-2011, 12:48 AM
The reason I ask is I usually buy cad and us .80 silver dollars. I know the ike dollar is 40% but I had an opp to buy a hundred for 2 bucks each. Are these dead weight? like hard to sell or does silver have to be higher for buyers?

sorry my friend, i know they are very shiny and seem like they may be silver but as others have stated in this thread, with no colored wrapper, with no s mint mark, there is no silver content. silver ikes were low mintage and only minted for collectors and sold in the wrappers and the odds that you have even one out of the wrapper that is silver are slim to none. those are most likely only worth one u.s.d. :(

silvernewb
11-04-2011, 12:52 AM
well after much work, I have come to the conculsion I have bought a bucket for 100 bucks lol :D

and no I was not lead to belive they were silver, I just rolled the dice on this one.....ooooops

maxwellsilverhammer
11-04-2011, 01:25 AM
consider it a good lesson learned for only a hundred bucks. the silver lining in this cloud is that it may have made you more wary of any future gold or silver purchases that are either mills, filled, plated, or completely counterfeit. lots of fakes being passed off as precious metals today. stick with pre 1970 halves, or pre 1965 quarters, dimes, war nickels with d or p mint mark on reverse above the dome or peace/morgans for the junk. there are however some chinese counterfeit peace/morgans and trade dollars. anyway, the idea here is to be careful of what you purchase thinking it is gold/silver.;)

Legacy
11-04-2011, 10:16 AM
I like Ike dollars. They are worth $1.10 around here.Hint.

ReignDog
11-04-2011, 11:22 AM
well after much work, I have come to the conculsion I have bought a bucket for 100 bucks lol :D

and no I was not lead to belive they were silver, I just rolled the dice on this one.....ooooops

Or you could make a set of dumbbells out of them and tell people they are a fancy weight set.

JOEBRENNER
11-04-2011, 12:24 PM
well after much work, I have come to the conculsion I have bought a bucket for 100 bucks lol :D

and no I was not lead to belive they were silver, I just rolled the dice on this one.....ooooops

I bought some silver clad coins that were ww1 and ww2 memorial coins. Had .999 silver marked on them, I did not know till after I bought them. O well live and learn.

dirt weasel
11-04-2011, 01:33 PM
You could throw a few in with a gift for your kids or a niece or nephew they will likely think they are cool. Might be the only way to get your monies worth.

GoldandCountry
11-04-2011, 02:33 PM
Easy enough to tell if they are silver clad by looking at the edges. Do you see any copper? Silver clad ikes were made from 1971-74 and 1975-76 (with 1976 date) at the San Francisco Mint in proof and business strikes. They were only released in special mint packaging as single coins until 1974 and in a piece set with a quarter and half on the 1976 dated ones.

Pawpaw
11-04-2011, 06:01 PM
i dont know how involved you want to get with your IKEs but there are two types of the 76 and 3 types of the 72 with some research and luck you still may make your money

silvernewb
11-04-2011, 07:45 PM
Yea, after doing some research. I will still have a loss but your are correct some of them can bring more then the 2 dollars. With exchange rate and a few lucky sales. I think a break even is a shot:o

Pill Pusher
11-05-2011, 02:12 AM
I have around 200 Ikes, a mixture of Blue/brown.

Metal Is Real
11-05-2011, 09:44 AM
Can't seem to get them around where I live. Went to a Chase bank branch and the teller said that when a customer brings in an Ike they themselves "fight over" them over who gets to buy it. Went to the LCS yesterday to buy some gold and silver and asked about Ikes. Someone bought up everyone they had!:confused: I just want to get one because they have sentimental value since I had them as a teenager.