Coin Thoughts #114by "SUN"
FIFTY YEARS AGO - 1971 - AND TODAY
In 1971 the U.S. Mint came out with some "new" silver dollars, the 40% Eisenhower (Ike) Dollars. These Ike Dollars were a big money maker for the Mint. The uncirculated version were packaged in a blue envelop for $3, thus called "Blue Ikes." The proof were sold for $10 in a brown box, thus called "Brown Ikes." Over 10 million Ike Dollars were ordered. With so many coins purchased, the value of these coins were depressed for years, many collectors were disappointed.
Jump to today, The Mint is producing 6 new silver dollars. I believe that many collectors will be disappointed for a different reason. Not all collectors will be able to order them because of a limited quantity.
At $85 dollars a piece, it will take $510 to buy all six. That is a hefty sum for the average collector. Just think what rare coin you could buy to fill a whole in your collection.
Comments
CoinCollector7777
Level 5
I STILL haven't bought one yet, I'm trying to save money. But I want to eventually get one.
Mal_ANA_YN
Level 5
No justification for the $85 price!!!!
Long Beard
Level 5
Agree on that last part. And that's why I'm only hoping for a Peace dollar, never liked the Morgan reverse.
It's Mokie
Level 6
Come Monday, the 24th, we will know the full extent of the Mint's Folly. The saddest part, the Chairman of the CCAC told Mint officials that the mintage should be ample enough to satisfy all. Sad!!!
Mike
Level 7
And the ones we buy will mostly grade 69. Now are these commens or medals?
coinsbygary
Level 5
I heard an opinion on your question that I agree with and find interesting. These are neither a commemorative coin nor a medal. They are continuations of previous regularly issued coins, much like the 1921 Morgan dollar after a 17-year hiatus. If the 1964 Peace dollar had been released, it would have also been considered a regularly issued coin.
Golfer
Level 5
$85 dollars each and so many versions. Not sure what I will do. Probably go online and order 1 of each if they don't sell out within hours.
Kepi
Level 6
You made some great points! Enjoyed your blog ; ) The "new" Dollar releases sounds like a fiasco... Can't wait! haha
Mike
Level 7
Thank you for bringing that up. Another gimmick.Many will be out priced. And why the presale. I think they will come out with sets. Thanks for telling us. The mint should make enough for everyone. Money money that's all they care about and how much they can get from us.YOU WANT TO GET SICK LOOK AT EBAY. THIS IS THE DEAL THE MINT MAKES WITH BULK SELLERS.
Longstrider
Level 6
I was hoping for a new "Thought" and here it is. I agree with you, many people will be disappointed on the new releases. Currently a raw Morgan or Peace dollar is going for around $185.00 on eBay. Pre-sale. I also am a fan of the Ike dollar. Thanks Sun, good job!