Over the Counter Limit for Gold JFK Coin Reduced to One Per Customer

The United States Mint has just announced a change to the over-the-counter ordering limit for the upcoming 2014 50th Anniversary 24 Karat Gold Proof Kennedy Half Dollars. Rather than the previously indicated limit or two per customer, purchases will be limited to just one per customer.

The ordering limit for internet and phone orders will remain at five coins per household.

kennedy2

In announcing the change, the US Mint provided the following explanation:

Because of the expected overwhelming response, dialog with our customers and many others interested in the 50th Anniversary Kennedy Half-Dollar Gold Proof Coin, the United States Mint is reducing the over-the-counter purchase limit to one unit per customer. This change in the purchase limit will give more members of the public an opportunity to purchase this popular coin, essentially doubling the number of customers able to purchase it.

The US Mint indicated that the number of units available at retail locations will remain unchanged. There will be 500 coins available initially at US Mint retail locations at the Philadelphia and Denver Mint gift shops and the US Mint Headquarters sales desk in Washington, D.C. An additional 100 units per day will be available for the first three days after product launch.

There will be a total of 2,500 coins available at the Chicago World’s Fair of Money held in Rosemont, Illinois from August 5-9, 2014. These will be made available at a rate of 500 coins per day of the convention. The ANA previously announced public safety procedures for those seeking to purchase the coins at the convention.

Separately, the initial pricing for the 50th Anniversary Gold Proof Kennedy Half Dollar has been established at $1,240 per coin. This is based on an average market price of gold in the $1,250.00 to $1,299.99 range. Each coin contains 3/4 oz of 24 karat gold.

During the course of the offering, the price will remain subject to potential change based a grid which uses the average weekly market price of gold.

Sales for the eagerly anticipated coin will begin next week on August 5, 2014 at 12:00 Noon ET.

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Comments

  1. VA Rich says

    “There will be 500 coins available initially at US Mint retail locations at the Philadelphia and Denver Mint gift shops and the US Mint Headquarters sales desk in Washington, D.C. An additional 100 units per day will be available for the first three days after product launch.”

    So after the first 500 coins sale out on Tuesday at a mint kiosk, then on Wednesday through Friday there will only be 100 coins available for each of those days? Am I reading that correctly, thanks!

  2. says

    Wow.. That’s makes the Flippers have to make a decision. This announcement Changes the Mind set of Flip 1 and Keep 1…

    Keep it…sell it….keep it….sell it….

  3. Mint News Blog says

    VA Rich – Yes, this is what the US Mint has indicated for the three retail locations.

  4. says

    They may not make an announcement but I Bet they have already started manufacturing more Golds.
    2,500 Chicago, 800 in Washington, D.C., Denver and Philadelphia and 35,100 for the Telephone and Internet…

  5. VA Rich says

    And those will be spoken for by noon on Wednesday, I anticipate seeing a back order Tuesday evening.

  6. Larry says

    Well it’s good to see there is someone with a little common sense at the mint. Now what they could do is change the first day amount at the ANA show to 1000 pieces. That would probably be enough to get one to everyone that wants one. The limit of one per customer should keep out the flippers, just not enough money in it for one piece. I think this is good for the average collector.

  7. Larry says

    @VA Rich – I would agree to the sell out if 40,000 was the mintage limit, but it is not. The mint says on their website they will evaluate it after a week. So it seems one has at least a week to order, so there is no huge hurry to order like there was with the gold BOHF. So maybe a sellout of the first 40,000 will take a little longer?

  8. thePhelps says

    So this bodes well for the wine and beer establishments around the convention center! Just doubled the number of customers who will be inline to “purchase” their coins.

    Actually this is how they should have done these to start with. So theoretically you could buy a coin everyday of the convention correct?

  9. VA Rich says

    Larry – I’m saying the 40,000 already minted are spoken for (already), though yes, you are totally correct. I’m just insinuating, if you want one of these pups before October, you need to have your order placed by Tuesday evening, IMO.

    With the on-site one per customer limit, more people will order on line now while tuning into MNB, and possible increase their purchase total, IMO. Hope more packaging arrives soon from.., you guessed it, the slow boat.

  10. Larry says

    @ VA Rich, one other thing, the BHOF gold was less than half the price, so 40,000 may be a lot tougher to sell in one day. There just are not the same amount of folks that have $1200 bucks to spend.

  11. says

    @Larry, 40,000.. Gone, gone, gone…IF 40,000 are Not Sold in Day 1 then this will be a Major Swing and Miss for the Mint…Major….

  12. VA Rich says

    Very true Larry.., quite frankly, I’m still shell shocked with the first day sales of the clad sets that’s attributable to the mint’s FB page marketing…, there’s a lot of FB followers out there now and it’s so obvious from the comments that they’re not collectors, but they’re on the JFK bandwagon. I’m thinking Tuesday is the day that the mint website breaks.

  13. VA Rich says

    Oh, one more prediction and then I’ll shut up…, come the Silver Set in the fall – 4 hour plus waiting times.

  14. joseph says

    If it really happens like Varich stated in his post, the mint will make more gold JFK and that will be a disaster to flippers. the mintage could reach 100k. stay tuned… LOL

  15. gary says

    HA! I LOVE IT! From the get-go the Mint should have made it a single coin per person. But I have to laugh when I think about the big boy hucksters who may have already paid people to stand in line with the idea in mind they were gonna get 2 coins from each warm body. Now they’ll only get just one coin per person, effectively half of what they were banking on! Ha! For good measure, the Mint should ALSO drop the ordering limit on the 1st day of online sale to just one or two coins, in favor of true collectors! Look, few individual collectors, at $1240 a pop, are going to invest $6,200 with the idea of buy-and-hold all 5 coins.

  16. Jake says

    so can you get in line each day of the ANA show and buy a coin? how will they keep tabs on that?

  17. says

    Hey, here’s a fun idea, how much will the HSN guy sell the 2 pc Anniversary set for this weekend? I say $49.95. Probably on 3 pay and he’ll only have 800 to sell!

  18. VA Bob says

    I’m going to stick with my prediction on the other thread. I image the price of airfare from Philly and Denver to the closest airport near the ANA show just when up 100 bucks. Too bad the Mint won’t record who bought on each day for a true “one” per customer.

  19. Wes says

    Expected shipping date for Kennedy set has changed yet again. Was 9/8 , 8/9, then 8/2 now 8/19. Looks like they don’t know what is going on there and I will have to wait yet again for an email.

  20. says

    VA Bob, HA HA HA! Probably without! Or a beautiful blue wooden lacquer box from the Mint, he only has 25,ooo of those left.

  21. longarm says

    Arches is still on backorder, I wonder why. It would be nice of they cut them off around the same mintage as the Smoky.

  22. gary says

    Going through the angst and grind of getting one of these gold Kennedy coins really makes no sense at all to the individual collector who wants just one coin to eventually get for their collection. This IS an unlimited mintage with no time limit I believe except for perhaps Dec. 31st.
    Honestly, anybody who feels compelled to be among the 1st to have one of these I would bet is only interested in flipping them fast as well. Nothing at all wrong with that either. The big boys and TPG should not be the only ones with a piece of the action.

  23. longarm says

    I’m a collector with no interest in flipping, but I’m going to be waiting at noon Tues.(11:00am Dallas time) to get two for my collection.

  24. Larry says

    @ Gary, from the mint’s website, “The United States Mint will evaluate sales activity during the first week and make adjustments to its production schedule accordingly”. So, except for maybe taking unlimited orders the first week, we don’t know what’s going to happen after that. At least that’s the way I read it.

  25. TimTom says

    @VABob and 2cents

    HSN guy will also pull out his 5 year old price catalog from “a company in NH” and say “Lemme see how much they have these for, oh they don’t even list it” So you must buy it!!

  26. jj says

    if gold keeps falling, i’ll be waiting to get one after another price drop. no hurry. besides, ordering one next saturday morning at potentially $1202.50 with no wait sounds better to me than getting one next tuesday at $1240 and wasting my afternoon in numismatic purgatory.

    by the way, provident metals told me they are developing a custom case for displaying their zombucks. cool.

  27. Clark says

    Back in 2010, Michael reported that the Mint sold 40,000 UHR Double Eagle coins in the first five days, following a strict household limit of one per household and ultimately sold well over 115,000. With an initial limit of 5 per household, early sales should easily exceed 40K. I’ll restate my earlier prediction of early sales of 75,000 and final sales of 200,000 or more. (Thanks, Cag, for keeping score!)

  28. Brad says

    The first 40,000 coins will be gone in a flash. Backorder will be extended several weeks out on day one. I’ll be sure to be in the Mint catalog at 11:45 ET next Tuesday to try to minimize “waiting room” time. I want to get coins from the first shipment that will be “First Strike” eligible. Not for me of course, but for those who care about such things and are willing to fork over big money for it.

    A fool and his money are soon parted, but a wise man is always in a position to take the money from said fools. I can buy a coin to keep for myself later from the profit generated by the sale of a sealed box of five coins that is “First Strike” eligible.

    I know, I know. “The first batch will probably be the best! The quality is sure to go down for later batches!” We’ll see.

    On Wednesday, I’ll see if I can score a coin from the Chicago show. I’ll gamble on the onsite grading fee and go for the magic PF 70! Even a 69 with the special pedigree should bring some nice bucks.

  29. Brad says

    Longarm,

    I saw the backorder on the Arches 5 oz. silver coin. While it would be nice if the Mint cut it off early around 25,000, that probably won’t happen. They made a point to raise the maximum mintage to 30,000 coins after the Smoky Mountain coin sold out quickly, so they will probably fire up the presses and strike the last 5,000 Arches to sell.

    I ordered one anyway, since I really like the design. I had a feeling that if I let it go I’d be sorry. I know it won’t be worth what I paid for it unless silver goes up quite a bit, but in this case I don’t mind so much. I want this one for me, not to resell.

  30. VA Bob says

    Gary – I kind of believe the workers at the Mint are like a pizza chef. The first few pies receive the best attention, the last pie of the evening maybe not so much. Those first 40K gold JFK’s where probably minted with much pride. Maybe not as much for the rest, as the workers are anxiously gearing up for the silver halfs.

  31. VA Bob says

    jj – you can always hedge your bet a bit. Order an hour or two (or three or four) after 1200 the first day. That should give you enough time to determine if a price drop is likely the following week. Then you can cancel your initial order, and place one for the lower price. Both bases covered.

  32. gary says

    @Brad… the box of 5 is a good idea IF you are lucky enough to be one of the very first to get your order in on Aug. 5 and then be lucky enough to be one of the earliest orders shipped and then one of the earliest Ebay listings and/or one of the fastest shipments to a TPG and then one of the fastest to get the coins back to sell and then one of the luckiest to get some 70 grades as well. I state all this because last year’s Reverse Buffalo sold fast and hot from the start with a limited one month of offer. The biggest money was made early on with coin companies with network connections in a narrow window of time opportunity. Now with that limited mintage look to where the RPs now actually sell for. When the dust settles on the gold Kennedy offer I believe it will probably end up with an oversaturation of them and may just become so much gold bullion.

  33. TimTom says

    I’m thinking a lot of the potential flippers might be scared off this time if they got burned on the BHOF gold, or at least didn’t realize a windfall as they had hoped. With this offering containing a considerable amount more gold and a murky sense of how many Kennedy collectors there are out there, I think flippers will be hesitant to tie up whatever amount of money in less coins (with less coins providing potentially less chances of landing multiple 70s).

    That being said, it all comes down to risk-aversion I think and those that made out on the BHoF might be content with what they made and sit out or at least tone it down. What does that leave? The big fish, the collector and those drawn in by the hype.

    So with that, I’ll predict an almost immediate sellout of the 40K w/in 24 hrs, but after that I’ll go with total sales of 70K.

  34. ips_stuff says

    @Jeff – can you clarify

    4/8 – what type of BHOF?

    I have several B34 shipping today & tomorrow
    waiting on several orders with B33
    and still have one order with B31 and one order with B32 that did not get the “no longer available” message, both still show backordered to 8/10

    Thanks

  35. A&L Futures says

    I’ve read an awful lot about “flippers” here on Mint News Blog. Yet my question(s) to each of you is who determines, or better yet, what makes a person a “flipper,” and why is it so frowned upon?

    NOTE: I regularly buy coins to flip. I’m by no means rich…as I survive on an honest Soldiers’ salary. Yet I’m surprised with all the negativity thrown around about those of us (i.e. “flippers”) who try to find creative ways to make a buck. Lord knows every little bit helps.

    Thoughts?

  36. Zeeman says

    I consider myself a collector and a flipper, i am not rich, i cannot buy every coin from mint, so the ones i think i can make some money, i try to buy extras, so i can keep one for myself and sell the others, to cut my cost,
    anyway i will go to ANA show, since its only an hour drive for me, and try my luck, if i get it fine, and if i do not, i will not loose much.
    So is it still 2 coins at ANA show or 1 per customer.
    Thanks.

  37. Brad says

    Gary,

    You’re absolutely correct about what will likely end up being the fate of the gold Kennedy coin. It will definitely be a “strike while the iron is hot” item. And, I’ve already considered all of the points you mentioned. The solution is simple. If it’s obvious my order will not ship in the first wave of coins to be eligible for the coveted “First Strike” pedigree, I’ll just cancel it.

    I’ll have a pretty good idea how it will turn out when I see my estimated wait time in the waiting room. With about 35,000 coins allotted for the phone and web orders and a limit of 5 per household, if you have a wait time much over two hours you may well end up with second wave or later coins. The time to get first-wave coins may be even lower than that. I don’t really know how many orders the Mint can process per hour on their current website or phone system. But, if my order is placed in time to get quicker shipment from the first 35,000 coins already in hand, they should do well in a sealed box.

  38. says

    Zeeman, It’s one coin now, and I hope you already have a ticket to get in, or have registered online prior to 7-15, otherwise you may have trouble getting the Kennedy. If you’re serious about the gold coin, my advice to you is to buy some of NASA’s best underpants and be there at 5:00 AM with your coffee thermos and breakfast. Good hunting to you!

  39. halfpint says

    you can have it ,add some money and buy a st. gaudens piece that has a ounce of gold plus some old coin value, prices for these modern coins ,sorry just does not excite me.

  40. Zeeman says

    Dustyroads@ i do not know if all 500 people will have tickets to get in right away, i am not going in at 5:00am , i be there like 6:30 or 7:00 am , if i do not get it, well thats what it is, i will find something else, i am hoping at least i will be able to buy the last of the Crux coin from Australia mint.

  41. Sith says

    @A&L Futures- That is a good question. A flipper is anyone who buys a coin and the flips it for a profit, generally the flip is done immediately or in very short time span. IMHO a true flipper is someone who will buy the household limit with the intention of flipping 4 or 5 of them., or worst getting friends and family to buy coins for them to do the same. A casual flipper like Zeeman, and myself generally just buy a coin (or two) to flip in order to defer costs. The reason why nobody likes the flippers is if their is a mintage limit we are taking away coins from collectors. In the case of the Kennedy’s its time, if the flippers exhaust the initial amount of minted coins then the collectors have to wait weeks if not months to get their coins, while the flipper got multiples only to sell them on flebay.

    I’m not sure why everyone is saying the flippers will suffer with the lower sales limit, obviously it is a good idea, but to say they have a decision to make seems a little short sighted, they will take take their coin for grading and sell it at the show while their wife orders 5 from the mint’s website. or worst case scenario they will order the coin that night or the next day.

  42. gary says

    @A&L Futures… I for one do not think there is anything either disgraceful or wrong to anyone who flips new mint offerings in an attempt to make a profit. Firstly, as a collector, buying and selling certain selected new U.S. Mint coins can help you buy coins that you DO INTEND to keep in your collection. Secondly, whatever anyone wants to do with any profits they make for any reason is OK and is that’s person’s right and personal business.

    I do wonder what the coin dealers at the ANA convention think and feel about the Mint’s handle at this upcoming show. They will surely sell all 2,000 coins effectively taking gross sales of almost $2.5 million.

  43. thePhelps says

    I actually don’t care about a low volume flipper. Those that buy a fewe extra coins to sell and try to offset the costs of the coins they are buying.

    What I dislike is the large bulk resellers – who simply order large volumes of coins to resell. These are the guys that have to line up 500 winos at a convention to get all the coins being sold they can possibly garner – then turn them into profit machines with the help of TPG and FS/ER convention labels…

    Those peope are not in this for a collectors coin – but simply coin for their wallets. I saw it mentioned a few days ago and agree – they are turnng coin collecting into the baseball cards of the millenium… and it isn’t good for the hobby or the coin market in the long run.

  44. says

    Just so I’m clear on this, there is NOT A MINTAGE LIMIT on the gold Kennedy, right? So it’s exactly like the St. Gaudens 5 years ago … huge surge at the beginning, very early flippers make a profit, and otherwise it won’t have a premium for several years (kinda what others have said).

    But I just want to make sure that this is not a Baseball HOF situation where there’s a LIMITED mintage, just available for a limited TIME.

  45. Sith says

    Stuart R – You are correct except for one detail, it did not take years for the UHR (St. Gaudens) to turn a profit\premium, but back then the price of gold was in a uptrend. Also obviously the mint will stop selling them at some point but their is no limit on time like the RP Buffalo which was limited for a month, nor a mintage limit like the BHOF.

  46. fmtransmitter says

    There is back door orders for Gold’s going on, you can take THAT to the bank..Watch HSN…

  47. dave says

    WOW!!!!!!
    A guy from Hamilton, OH has sold 3 gold Kennedys PF70 ANA label @ $3474.99 each and has 2 more to sell.
    Q. How in the world can these guys KNOW they will get 70s????????????
    Sounds to me like they have a deal with the TPGs.

    It is a pity. A disgrave to the collecting community, IMO.

    OGP about $1800 on the Bay

  48. GoldFishin says

    @cagcrisp – I want to get in on the prediction game for the mintage of the JFK gold coin. I am predicting an eventual mintage of between 66,532 and 73,185. In order to reach this level you have to double total sales of both Gold and Silver HOF and then add an additional 10% on top of that. Being as this is a one product offering and there will be so much competition for the grading and flipping game, I would be surprised if aftermarket premiums can withstand the onslaught for much over 45 days. I think as a collector/flipper if you can’t get your coins on the market in the first 30 days from the first day of shipping it might be wise to just wait for another opportunity to come along( as in the JFK Silver Set). It is a little different game to buy a HOF silver for $50 and flip it for $100, than to buy a JFK gold for $1240 and flip it for $1500-$1600 if you are lucky(minus all sales fees) after the 45 day window I spoke of. If I am wrong I will be very happy, not only for myself, but for everyone here who is purchasing the coin.
    Conversely, if we see most folks buying these coins only to hold on to for the long term, (similar to what we saw with the HOF gold), coupled with the 5 coins household limit, coupled with fulfillment woes and or 2nd production delays, etc…. maybe the flipping game will work for longer than I anticipate. I am initially in for the household limit and will decide what to do from there. I would like to keep one each graded and OGP, but probably can only afford to keep one. Just really thinking out loud here. 😉

  49. Sith says

    I already went into details in another post IMHO the mintage will be 100k to 120k. I was in your boat goldfishin until I saw the demand from the class.

  50. HiCal says

    @A&L, “Flippers” don’t bother me as I consider myself a flipper in that I’ll purchase two coins one to flip and one to keep. My problem is I haven’t flip one coin yet as I like the coins I’ve purchased. Does that make me a “Collector”.

    @Zeeman, Good luck at the ANA. I hope you get one of the gold Kennedy, get it graded and get a 70. Keep us posted.

    @Dave, I feel sorry for the other five peeps that got his PF69s. Just kidding I sure those TPGs are all honest.

  51. says

    @GoldFishin, I pretty much am in agreement with your analysis. I think the Only hope for Flippers is the initial 40,000. There Will be some willing to pay a Premium to have a coin in hand so Initially I think some Golds will be sold with a Premium on the bay. That will prompt others to Buy and try to do the same and then when there in no longer a Premium for the initial allotment Flippers will be forced to sell. You can hold a lot of coins but a $1,240.00 coin is hard to hold if you are in need of $$$. With a household limit of 5 I can see some selling in OGP early around the $1,500.00 level after a couple of month there will be no Premium…
    IF the limit was 1 per household then Premiums might hold in the Secondary market like the 2009 UHR but the key is 5 household limit Not 1 household limit. When you could only have 1 you couldn’t flip and keep at the same time…IF you have to flip you have to flip…

  52. GoldFishin says

    @Sith – well, most everyone else is guessing higher, so why not go against the grain a little. My entry fee to Cagcrisp is non- refundable so it was a big risk. Bottom line is for me…..if the mintages live up the hype and are as high as many are predicting here I think these are going to be a mediocre investment in the medium term and a very precarious flipping game. Buy what you like and can afford and you can’t go wrong.

  53. VA Bob says

    A & L – If I may I’ll give you an analogy that I believe might answer your question. A flipper is like a car dealer, a collector is like a car enthusiast. The car dealer may be very knowledgeable about cars, but is not so emotionally attached to a car to the point he/she would not sell it without thinking twice (for the best price he could, of course). The car enthusiast, hopes (realistically or not) that they can keep the car forever, maybe passing it down to one of the kids, or reluctantly selling if the need arises. Who loves car dealers? Few, probably just under lawyers. Who admires car enthusiasts? Jay Leno’s collection is pretty sweet I must say. Now of course, vehicles are consumables, so this isn’t a direct apples to apples comparison, but I believe people can relate to this.

    gary hit on it pretty well. The big flippers are seen pretty much seen as caring, right or wrong, about what a coin brings and not the coin so much itself, even if they keep one or more for themselves. Few would begrudge the occasional flipper selling to support his/her collection, and fewer still or none the guy that has to sell to meet other obligations. Flippers do, in cases such as the JFK gold, increase the number of coins struck, while their transaction(s) are in play (grading, eBay sell window, etc.), increasing the overall mintages, and (possibly) lowering long term appreciation of the coin due to saturation.

    For set mintages, they take buying opportunities away from some collectors of lesser means, and place the limited amount out of their reach (there’s the animosity). The 2012 ASE set comes to mind. IMO the third group, speculators can be and often are flippers, but they have no interest in coins or bullion (design, artistry, collectability, etc.) beyond being a financial instrument and investment profit vehicle. All parties what our coins to appreciate, the difference being the accepted amount of time. Various degrees of each group exist. My take for what it’s worth.

  54. GoldFishin says

    @Hi-Cal – I have the same problem…always attempt to minimize my collecting costs by selling a few extra, but many times I just can’t part with the extras I bought and have to end up paying for them. I think it does make us collectors. I ended up going into the open market and purchasing an entire gold and silver PCGS 70 FS HOF set at discounted prices with the intention of selling them off later. After seeing them I just can’t let them go although I already have a NGC 70 ER set. It can get expensive to be collector. 🙁

  55. fmtransmitter says

    I can say that the dealers DO pick the best ones and keep them for themselves, IF I am to believe the dealer who sent me that Wedge Tail that came back a 70. He said it was one of the ones the company put up for themselves and decided to let go. Who knows, all I know is I love it and if I could afford this offering, I would love it too…

    Silver vs Gold value? Simple, the value of gold is much higher than silver, hence the value being much higher. Silver takes up a lot of room.

    OFFT: Did you see this treasure gold found off the Florida Coast yet? Splendid detail…Drool…

    http://www.tcpalm.com/news/local-news/indian-river-county/treasure-hunters-strike-gold-off-fort-pierce-coast_05804728

  56. Larry says

    I have talked about this previously, but think its important to repeat. The mint;s website does NOT say there is no mintage limit, it says “The United States Mint will evaluate sales activity during the first week and make adjustments to its production schedule accordingly”. So after the first week, then maybe we will know what the mint is going to do.

  57. says

    @ Larry, I posted this previously on this blog:
    “J. Marc Landry, the U.S. Mint’s acting associate director for sales and marketing, said during a July 16 teleconference with numismatic media that the Mint anticipates having 40,000 coins available for sale and immediate shipping on the first day.
    The issue will be struck to demand, he said.
    Pricing is tied to the U.S. Mint’s pricing grid for coins containing precious metals. Pricing for the gold Proof Kennedy half dollar, which contains three-quarter-of-an-ounce of pure gold, will be announced close to Aug. 5.
    Landry said the preference is for no mintage limit. The Mint has sales estimates projected, but if demand greatly exceeds that target, it might not be able to meet that demand.”
    Production plans will be adjusted if necessary based on the first week of sales, Landry said.

  58. stephen m says

    The 2009 UHR was put on sale for 1189.00 in a upturn gold market and retails for around double in today’s markets. Anyone here think the gold Kennedy will bring less than the 1240.00 selling price down the road because of current or possible downturn gold prices. I don’t think any modern gold piece retails for less than original selling price from the mint but I may be wrong.

  59. Ikaika says

    @ Stephen m

    Not sure your comment applies for the FS gold coins. Some seems to be selling below the original price, especially the ones sold during the peak gold prices.

  60. HiCal says

    @GoldFishin, Wow HOF set in both FS and ER is sweet. I just got the two gold and silver in OGP and now thinking of getting the two clad halves so I have the whole set. With gold Kennedy and the silver set being release it putting a hurt on my pocket book. I like the 2014 Platinum eagle but probably can’t afford to buy that one too. Someone say pick and choose the one you like to collect, good advise. Good luck on Tuesday.

  61. thePhelps says

    My last HOF silver uncirculated shipped tonight. This was ordered @ 2:21 pm on 04-09…must be getting close tot he end of the silver shipments.

  62. VA Rich says

    tP – that probably concludes all UNC orders. Proofs appear to be hung up around 4/04 orders and scheduled to ship mid-August, then we’ll have closure… finally!

  63. A Bob says

    Good move. Now if the mint would only tell us how many gold Kennedy packages it has ordered. My guess is 100,000.

  64. Clark says

    I’ve argued in previous posts that there is no difference between beloved old local coin dealers and the average small time flippers. Both buy coins with the sole intention of reselling them for profits. It would have been hard for most of us over 30 to get into the hobby without the local coin dealer, yet we were dealing with folks who marked almost everything up with impunity. The most persuasive distinction I’ve heard here was that local dealers are honest, and flippers are not, but I’m sure there are dishonest dealers out there too.

    Like many small storefront operators, e-commerce would have put most local coin dealers out-of-business but for the fact that many still make a nice business of buying precious metals under melt and selling them over spot. As long as local folks need fast cash, most local coin dealers will survive.

    As an insufferable collector, I don’t buy coins to flip, but to me the difference between flippers and local coin dealers has always been one of semantics. That said, I do believe there is a special place in coin hell for those who, for personal gain, buy coins to prevent others from getting them at a fair price…that isn’t flipping or dealing, it’s just mean.

  65. sharks2th says

    4/5 bhof silver unc order shipped 7/30 and should arrive in an hour or two. The silver proof on this same order went to in stock today, 8/1.

  66. says

    Current Guesstimates. 100% payback. Grand Prize is the same as Entry Fee:

    • cagcrisp north of 125k on 07/10
    • Louis 50k 07/10
    • VA Rich 50k +/- 8k 07/10 ; 71,293 07/31
    • Jeff 70k 07/10
    • Stephen m. 150k+ 07/11
    • SilverFan over/under 100k 07/11
    • Sith 60k 07/11; 100k to 120k 07/31
    • VABEACHBUM 07/16 do not think it will either garner the interest or come anywhere close to the 109k
    • Eagle One 40-45k 07/25
    • Clark exceed 200k 07/26
    • gary 92,586 07/31
    • thePhelps between 75 and 100k the first week and a total of 125k 07/31
    • Pittsburg P between 88,000 and 110,000 07/31
    • VA Bob 100k +/- 5k 07/31
    • TimTom 70k 07/31
    • Dustyroads 86,500 07/31
    • GoldFishin 66,532 – 73,185 07/31
    • A Bob 100,000 07/31
    • Longarm 70k 08/01

  67. joseph says


    @GoldFishin, I pretty much am in agreement with your analysis. I think the Only hope for Flippers is the initial 40,000. There Will be some willing to pay a Premium to have a coin in hand so Initially I think some Golds will be sold with a Premium on the bay. That will prompt others to Buy and try to do the same and then when there in no longer a Premium for the initial allotment Flippers will be forced to sell. You can hold a lot of coins but a $1,240.00 coin is hard to hold if you are in need of $$$. With a household limit of 5 I can see some selling in OGP early around the $1,500.00 level after a couple of month there will be no Premium…
    IF the limit was 1 per household then Premiums might hold in the Secondary market like the 2009 UHR but the key is 5 household limit Not 1 household limit. When you could only have 1 you couldn’t flip and keep at the same time…IF you have to flip you have to flip… ”

    I THINK this guy brought up a good point, the household limit is 5, so most ppl buy them for flipping,right? let’s say, 90% (some ppl keep one for themselves) of the coins with the pure purpose of flipping, that will be a stunning 36k , they will flood the market with gold JFK on the first day, LOL. there will be mountains of pre-sales on ebay. hmm… it will be really interesting to see how many ppl will make any money. if you can sell one for $1500 on ebay, exclude all fee and shipping + insurance, you probably can make $50. LMAO.

  68. joseph says

    WOW!!!!!!
    A guy from Hamilton, OH has sold 3 gold Kennedys PF70 ANA label @ $3474.99 each and has 2 more to sell.
    Q. How in the world can these guys KNOW they will get 70s????????????
    Sounds to me like they have a deal with the TPGs.

    It is a pity. A disgrave to the collecting community, IMO.

    OGP about $1800 on the Bay

    DAVE, I HAVEN’T SEEN ONE SINGLE BUYER, HAHA… LOL YOU CAN LIST $10K FOR SALE ON ANY BAY, BUT NO BUYER… MAKE NO SENSE.

  69. bg35765 says

    75,920 is my mintage estimate. Here is my logic:

    The reverse proof gold buffalo had initial sales of 47,836 (before adjustments that came later). At the initial price of $1640 that was $78,451,040 spent on those coins.

    I think collectors as a whole will be willing to spend 20% more on the gold Kennedy. So that would be $94,141,248. Divided by $1240 that would be 75,920.

  70. gary says

    Please correct me if I am wrong here. A few years or so ago, as a result of many unfulfilled orders presumably, didn’t Ebay make a new policy to ban or curtail pre-sale listings of new U.S. Mint issues? I just noticed several Ebay listings for pre-sales of the gold Kennedy half (all outrageous) and also discovered some supposedly sold pre-sales. In my opinion, these first few so-called sales may only be a pre-sale shill. There’s know way of actually knowing that any of these coins are going to actual purchasers. Rather, I think the seller has a colleague who places a buy on the item just so it goes up on Ebay looking like it was sold. What actually may happen is just after the sale the seller agrees to “refund” or cancel the order made through his colleague.

  71. bg35765 says

    Pre-sales are allowed, but only within a 30 day window of when the item is supposed to be shipped.

  72. jeff says

    In regards to the pre sale PR70 it’s a win, win for the seller best case he gets paid worse case he only has to return the money, absolutely no loss for the seller other than time to post on the bay.

  73. Pittsburgh P says

    Bg is correct gary… Its done with many mint offerings not just the JFKs or US Mint products. For example the RAMs offering of the Southern Sky Orion had many Pre-sale offerings for the last month & its not released til Aug 4th. I really doubt its a shill – some people will pay more to get it in hand quickly or they are unaware they can buy it directly from the mint imo.

  74. says

    Simple search on the bay. “2014 baseball gold coin” exclude “69” “70” “no” “box”. ONLY include Buy It Nows. 42 results with 37 of 42 being $699.00 or Higher

  75. Eagle One says

    I received my 50th Anniversary Kennedy Half Dollar Uncirculated Coin Set by UPS last night. The coins look proof-like and are struck up well. The packaging or the card that holds the coins in place is nicely done too. Only 7 of the 10 coins received are off to the graders. I expect the chosen 7 to grade between MS67 thru MS69 with a possible Proof-like designation. The Mint did a nice job on these and the quality is much better than the mint set specimens or the mint rolls.

  76. Dan in Fla says

    I am to receive 10 BHOF silver uncs today. This was an order I placed 4/7/14 about 4pm. I was beginning to lose faith that I would get them.

  77. VA Bob says

    Eagle One – What time did you place your order for the JFK’s? I got my email back at 12:05 and coins aren’t supposed to arrive until Monday. Just curious.

  78. Dave says

    Joseph,
    Use the “completed sales” button on the side bar to find offerings which have completed auctions and BIN committed buyers. It takes 24 hrs for a sale to be recorded on the Bay.

  79. Dave says

    Correction –
    View “Sold Listings” and not “completed Sales” to avoid wasting time with unsold listings.

  80. Eagle One says

    @VA Bob

    I placed my 5 piece web order around 12:05 AM on the 7/24/14 and my confirmation e-mail from the mint is time stamped 12:17 AM. I paid the extra $12.95 to expedite shipping (UPS 2 day). They arrived 7/31/14.

  81. VA Rich says

    Eagle 1 – would you please post your results when received, thanks!

    I plan to put a 2014 JFK 13 coin set together.., for the heck of it.

  82. jeremy says

    but why do 24 karat gold Kennedy Half Dollars cost more then First Spouse Proof Gold Coins.since First Spouse Proof Gold Coins have more gold & cost $840?

  83. Laurence Ramos says

    I went to Chicago from MI trying to get a coin but couldn’t because they were sold out by 0800 on the very first day. Some dealers are paying bus loads of people 1000 to stand in line all week for them. then they give them the money to buy the coin before they get to the counter. Why can’t the US mint make sure that everyone in line has a US mint account. And they are buying ONLY the limit at the coin show? The US mint ignores the limit that they imposed and we the people get shafted by the greedy dealers. All I got for my troubles and coin collection was two sets of Kennedy clads.

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