The American Numismatic Association has announced public safety procedures for those who will seek to purchase the 2014 50th Anniversary Kennedy Half Dollar Gold Proof Coins at the Chicago World’s Fair of Money held in Rosemont, Illinois on August 5-9, 2014.
As covered in this previous post, the United States Mint will have 2,500 of the gold coins at the convention, with 500 coins made available for purchase each day. An initial ordering limit of two coins per person will be established for sales at the ANA convention and other retail locations. Purchases at all Mint over-the-counter points of sale will be restricted to individuals 18 years of age and older.
At the convention, the US Mint previously indicated plans to distribute tickets for purchase in order to avoid long wait times and reduce congestion on the bourse floor. The specific instructions provided by the ANA regarding ticketing are as follows:
The U.S. Mint previously announced that 500 Kennedy coins per day will be sold at the show, and in order to purchase a coin, a buyer must receive a ticket from the U.S. Mint. The line for receiving tickets will form outside of the bourse floor at 8 a.m. each day of the show. There will be signs on site to guide collectors to the correct area. Mint officials will distribute tickets to the first 250 people in line between 10:30 and 10:45 a.m. each day. At 11 a.m., collectors with tickets will be led onto the bourse floor through a special side entrance that will take them directly to the U.S. Mint booth to complete their purchase.
Collectors are reminded that proper credentialing is required to enter the convention hall at the World’s Fair of Money. Collectors who are not credentialed will be asked to leave the ticket line. The public registration desk will open Tuesday through Saturday, Aug. 5-9, starting at 8 a.m. Registration is required to receive credentials. ANA members who registered for the show online before the July 15 pre-registration deadline will receive their credentials via U.S. mail before the show.
The U.S. Mint previously announced that collectors under the age of 18 will not be allowed to purchase the Kennedy coins on site at the show. Collectors will not be allowed to hold spots in line for others.
Daily public admission is $6 for non-members and free for ANA members. A $2 off coupon is available for free at WorldsFairOfMoney.com.
In addition to the limited distribution at the ANA convention, on August 5 at 12:00 Noon ET, the US Mint will also begin accepting orders by website and phone. Across all channels, the US Mint will have 40,000 of the gold coins available at the start of sales.
This morning, I had the opportunity to visit the West Point Mint where I was able to witness production of the 2014 Kennedy Half Dollar 24 Karat Gold Coins and see the final coins in person. I was told that production was close to the 40,000 pieces necessary for the on-sale date.
I am extremely excited to share some of the information and images from my visit with readers in several upcoming articles which will be posted both here and on CoinUpdate.com. Stay tuned for more!
Jus-a-coin-luvr says
Thank-you for the photo and I look forward to whatever else you can share with us!
I think I hear the rumble of hooves off in the distance that will be herded into the appropriate on-line and in-person chutes on Aug 5th. Gentle-steers…mount your horns!! 🙂
TimTom says
12:18PM order for 2 clad kennedys went to in stock and reserved, cancel box gone!
Jon in CT says
This hairbrained scheme is typical for the Mint and does almost nothing “to avoid long wait times” and merely moves the chaos outdoors instead of inside the show. If you want a coin you need to line up outside the show by (before?) 8AM and then wait until some idiot from the Mint finally shows up at 10:30AM to distribute tickets to buy the Mint’s coins. But don’t bother to queue up unless you somehow already have a ticket to enter the show, which doesn’t open until 10AM.
GoldFishin says
12:10 order for Kennedy 2 coin set “In stock and reserved” 4-6 order for HOF silver unc. “in stock and reserved, same order proofs are still backordered
thePhelps says
I’ll have the popcorn ready – and watching from the sidelines Friday.
Brad says
It’s funny how they automatically assume everyone in line will want two coins. Otherwise, why only give tickets to the first 250 people? Plus, we all know that the limit will be reduced to only one coin per person starting on the 6th and each day after. Honestly, it should only be a one-per person limit on the 5th, too. Why are they so stupid? They’re always preaching about wanting the widest distribution possible, but their actions always say different!
This isn’t going to work out. How are you supposed to get your credentials and get in the ticket line at the same time? Plus, there’s probably already well over 250 ANA members who pre-registered and will be able to monopolize the line each day before anyone else gets their credentials. It will probably be most of the same individual people buying the coin limit each day, too. I’ve never read anyplace that the Mint will keep a list of who buys the coins each day and prevent those people from buying more the next day.
The best thing to do would be to either have more than 2,500 coins for the show, or just sell them all on the first day so at least 1,250 different people will end up with coins.
I read another account about how the procedure to get tickets is supposed to work, but it was vastly different than this one. The other one said that the location to get in line to get tickets from the Mint would not be announced until sometime between 10:30 and 10:45 CT, so the line would not be forming hours in advance. But, if that method were true, there would be a literal stampede of people to try to get to the right place in time. Then, it could be on the news that someone was trampled to death at the ANA show. That wouldn’t be good publicity.
Jon in CT says
Brad wrote on July 28, 2014 at 5:29 PM:
I imagine that if there were tramplings at the ANA show, then everyone in Chicago watching the local evening news would wonder what the heck was happening out there in Rosemont and would maybe start to think about schlepping out there to see the action themselves and not miss out on anything. 🙂
Dustyroads says
I’m glad I decided not to go, all the lines, procedures, and limited coins makes me believe I could make a mistake and not get what I went there for. I even propositioned the wife with making a family vacation out of the trip, complete with a ride up the road to six flags, but they chose South Padre Island in stead….ok. Honestly, I think the waiting room at the Mint site is far more fun, there will be another day for the ANA show.
VA Rich says
ANA Recommended Attire – running shoes and a football helmet.
ANA Optional Gear: a quart of motor oil to leave in your wake so you don’t get your ass tackled and globbered as you make your final 2 yards to the 0800 starting line –
Repost – I can’t image what the 0800 form up will look like. Someone better be on their game and have those signs up or they’ll have a riot on their hands. So what time does the 0800 form up start? Is it 0600 to get in line to be the first in line when the doors open to get in the 0800 line? Seriously, how’s that gonna work?
VA Rich says
Brad – I hope it works out for you, I’m pulling for ya! Perhaps come Tuesday and you can give those of us on the sidelines a play-by-play action report here on MNB. We can live vicarious through you for the day!
Boz says
Reminds me of when the AP’s got the 2010 5 ounce bullion pucks. The the movie scene in Indepence Day when the RV’s and pickup trucks were pouring across the desert. Stampedes in the parking lots and nobody was satisfied. Now look at the pucks, they are lucky to get rid of 15,000 of anygiven issue.
Is this the future, always moving from one latest and greatest trinket to the next, none of them ever intended for general commerce?
Dave says
This makes a mockery of the household limit.
It also is the stupidest distribution plan I have ever heard of.
Why would they not give out NUMBERED tickets and then have people line up ala Southwest Airlines? They could even Schedule the tickets with buying times to avoid the overcrowding and allow waiting buyers to browse. And why not give out the tickets at noon INSIDE the show? Then there would not be concern about registered or not.
Seems to be catering to the big boys yet again (surprise, surprise – NOT!)
VA Rich says
I like Jeff’s idea – have a lottery. Give out as many tickets as desired from 1000 to 1200, and then at 1400, start drawing numbers. Winning ticket holders go to a seclude location, present the ticket, and make the purchase – defuse the whole evolution.
Mike says
Brad you are absolutely right… The Kennedy, at the coin show is nothing but a Scam.. They already know what group of People are getting them. It’s just like the Lincoln pennies you couldn’t even get one box, yet there were people that had thousands of them… I was planning on going to the show, but not now, I’ll just wait the two months to get them, like I did the Baseball coins….
Ikaika says
All this for that little piece of paper inside the coin holder. I am not sure who is buying these coins since no anyone can distinguish them from those sold by the mint via other means if removed from the holder.
TimTom says
I could never have imagined an ANA convention having line-up procedures rivaling those that I experienced in K-ville … LOL!! Let’s see if these work, like previously mentioned, popcorn=ready!!
jeff says
VA Rich you forgot the bullet proof vest you know the windy city is notorious for capital crimes and homicides.
VABEACHBUM says
@ Boz- LOVE the I.D. reference, with Randy Quaid leading the charge. “Hello, Boys!!”
Looking forward to the coin, for sure; in OGP, as always. Love the coin, not the slab!! Not sure what’s worse – the folks fighting for the opportunity to get that ANA Label, or the folks paying unrealistic dollar amounts for those freshly slabbed coins. A year later, those 2013 ANA RP Buffalos are a stinging reminder of the realities of the market.
jeff says
What does this say about the ANA show itself does this event need this circus type atmosphere. I can see it now dealers and buyers in line , show floor empty lol . Other than the Kennedy hoopla what else does this show have going for it, oh last year’s chaos. I’m for these shows I have attend the fun show in Orlando nothing like this ever happens there.
Bob R says
Well Chicago does not allow concealed carry, that may be a good thing this time.
bg35765 says
There was a previous plan of not disclosing the location of the ticket line until 10:45 a.m., but someone came to their senses and realized that people were going to get hurt.
This plan sounds pretty reasonable. They just need to make sure they have police outside the doors well before 8:00 a.m. Otherwise people will get out of their cars at 7:55 a.m. and try to cut the people who have been standing there for an hour.
Zeeman says
credentials? what they mean by that? how are you suppose to stand in line at 8:00 am, if you can not even buy the ticket before 8:00 am to get in the show.any tips
mark says
Kennedy unc set…in stock and reserved. Cancel box gone.
TimTom says
@zeeman- Maybe have someone hold your spot like a buddy system, then you hold his/hers. just let the people immediately behind you know that it’s just to get your credentials and not to rat you out to the Mint gestapo. I think that might work?
Zeeman says
Thanks Tim@ If i understand it right, you cannot be in line, if you do not have your credentials .
bg35765 says
You had to pre-register with the ANA to get your credentials by mail ahead of time.
Zeeman says
its confusing, thats all i can say, someone please explain in plain words,Thanks
Bob R says
In plain words, Don’t wast your time!
TimTom says
Like I said, as long as nobody rats you out, you can line up early, then leave the line while having your place held. Timing is important, because the credential opens at the same time as the line, but people will certainly be lining up or trying to earler. You must have gotten back in line by 10:30 though to get your Mint purchase ticket. My thinking is that they can’t kick you out of a line for not having credentials if you are not in said line (so long as the people around you understand what you’re doing and are cool with it). Now, will it work? I don’t know. Be quiet about it when you’re talking to those you intend to ask help from, but when you’re talking about people who might be trying to flip the show label 70s for thousands of dollars, well it might not go so smooth. But maybe you’ll find yourself surrounded by honest collectors that just want one each. Who knows, my brain hurts.
fmtransmitter says
1:35 order first day clad set is 8/1/14..Hmmmm……Pretty plate of Kennedys…
Hidalgo says
I placed an order for two 2014 Kennedy Anniversary Uncirculated Clad set on July 24th at 5:20 PM. My two sets are backordered, but expected to ship on August 10th — less than 30 days after they were available for purchase.
I guess if I wanted a “First Strike” label, I could get one. However, the uncertified set by itself is fine with me. It’s definitely a keeper!
Larry says
I’m going to the ANA show to spend a couple hours looking at coins I can only dream about. Don’t want to spend a couple hours waiting in line for something I can get pretty much anytime just by sitting in front of my computer.
If the mint really wanted to do something great, just bring more coins from the mint’s collection. That’s what I would want to see.
Hawkster says
Will the big boy dealers be handing out sleeping bags to their Kennedy gold coin buying recruits? It is only fair that they make their “buyers” comfortable, as they spend the night encamped on the sidewalk in a makeshift honor system line to ensure that they get on the 8:00 am ticket line first.
charles says
Larry…I tip my hat to you!…nice to hear
GoldFishin says
Hawkster – you are absolutely right, there will be campers if they allow it. If I was going that is what I would do if I really wanted to get a coin or two. If people think they are going to show up at 8am and get in line, forget it, the line will be down the street and around the block by then.
The lottery idea is probably the best way to control things from getting out of hand. Just get a number when you go into the ANA show and wait around until say 1 or 2 p.m. when they announce the winning numbers, just like they do a drawing at a casino. You could sell you number to somebody else if you wanted to, if it is just all about money and not the coin. 😉
Bob R says
It’s going to look like a soup line for the homeless.
VA Bob says
Might as well put a “Golden Ticket” for the JFK coin in a chocolate bar wrapper.
Some open questions to anyone that will pay the exuberant cost of an ANA slabbed JFK coin. In ten, twenty or more years who is going to give a hoot what coin show the coin was purchased at? How many people are going to be sitting around in the future saying, “Oh ho, that 2014 ANA Rosemont show 30 years ago was the bomb, and I got this from it, that little label says so?” . Who will be so enamored with the venue then, when 40K + sold elsewhere the same day? Do label chasers consider this when they buy? I’m pretty sure the flippers couldn’t care less, as they are getting the cash up front.
Tinto says
@Brad
“It’s funny how they automatically assume everyone in line will want two coins. Otherwise, why only give tickets to the first 250 people? Plus, we all know that the limit will be reduced to only one coin per person starting on the 6th and each day after. Honestly, it should only be a one-per person limit on the 5th, too. Why are they so stupid? They’re always preaching about wanting the widest distribution possible, but their actions always say different!”
Good ol govt bureaucracy at work… must have had umpteen committee meetings along with a dose or two of consultants thrown in along the way before they released that masterpiece.
Hawkster says
GoldFishin,
Maybe the camping has already begun. Students at Penn State have been known to form tent cities outside the stadium a week before the game to get the best tickets.
Scott says
No way in hell I’m going to wait in line two hours prior to opening to get a coin with unlimited mintage that I can order online. Why does our government screw up everything it touches?
guama says
Sounds like black Friday at best buy to me. People will camp out for hours way before the show opens. No thanks. I will be at the show, but am not interested in buying 3/4 of an ounce for over a grand. For those who are going to the show, happy hunting☺
Wes says
I won’t be getting the Gold Kennedy. I am looking forward to receiving my clad set set to ship 8/10. My HOF UNC ordered 4/7 /2014 shows in stock and reserved. I plan on adding the Silver set in OGP to go with my 64 Kennedys.
Jerry Diekmann says
Am I ever glad that i will NOT be attending this convention. So much hype! Just wait and order 5 if you want to on August 5. on line or by phone. This is just a “make money quick” scheme for the TPGs and the flippers, IMO.
Clark says
It looks like the Mint is rapidly getting around to filling 4/10 silver BHoF orders, of which I have 100 pending (50 unc/50 prf). I thought I’d put them away for a few years, but have become ambivalent and don’t have much time before it’s too late to cancel. I’m wondering what my fellow BHoF lovers think?
Hidalgo says
@Clark – you likely purchased 100 BHOF silver coins to sell or flip. (A collector would only need one or two coins for his/her collection.)
If your ultimate goal is to profit from your purchase of 100 BHOF coins, you’ll likely realize higher gains in the long run if you invest your money elsewhere. If you don’t, you’ll have $40K + worth of coins laying dormant. In the long term, it’s better to invest your money in securities.
VA Rich says
Clark – I am interested in…
1). why you’re feeling ambivalent. That doesn’t seem like your demeanor at all from what I can tell out here, esp regarding BHoFs.
2). your pending (50 unc/50 prf) order. “Your BHoFs,.., how much for your BHoFs, sell them to me.., how much for your little BHoFs?” – sorry, an attempt at a some Cook County humor – nugh said, I’m sure you’ll make the right decision.
VA Rich says
Harry b – hey if you’re still out here, you’ve always had insightful posts that makes one stop and think. If I may ask, what are you doing with the JFK gold? In or out? Doubling down? Got your eye on something else?
Thanks, I’m trying to figure what I’m doing a week from now and its just not coming so far.
VA Rich says
Hildago – I respectfully disagree:
1) there ain’t no hum in this economy
2) the markets have peaked and poised for a nice reset this fall
3) I’d love to have $40,000 sitting in a silver ETF or Zombuck Walkers laying dormant for the next 2 years
Hidalgo says
VARich – to each his own. I can say that my $10,000 investment in equities increased by 22% last year. That’s better than my portfolio of coins. And that amount is far better than my portfolio of coins made of precious metals (which decreased in value because of the fall in gold and silver prices).
GoldFishin says
@ clark -100 HOF’s silvers is around $5,000 if my fuzzy math is correct, not 40,000. Clark, if you wanted you could cancel the unc. versions and keep the proofs. The proofs sell better on the Bay and they will always sell easier in the future. I don’t think it is a hard decision to keep them all, you could always sort through them and have some graded and make a tidy profit even at non-er/fs prices.
cagcrisp says
@Clark, No way I would cancel that order. I see Both Uncirculated and Proofs in OGP close to $100 by year end. 100% return over issue price…
I would Love to have 100 Silvers at Issue price…
Pittsburgh P says
@Hidago I’m with VaRich on this one… Personally I like to have diverse holdings but have a soft spot for silver. 22% is great too congrats but its not the norm.
@Clark if you can afford it I’d keep the order imo
merryxmasmrscrooge says
Look can I just buy one now so I can die in peace!
or wake up Xmas morning and realize this was all just a dream
CaptainOverkill says
Looks like there may be a real stampede this time, instead of the “virtual” ones we usually get!
fmtransmitter says
Looking into new cryptocurrency-Found this new Hawaii coin…Interesting new concept in coin world…
http://www.cointelegraph.com/news/11991/say_aloha_to_a_brand_new_currency
VABEACHBUM says
@ VA Rich – What in the world is happening in NORVA that you’re up at 0430?? You pulling the all-nighter or up too damn early?
While looking at the latest schedule for Mint products to be released through the end of the year, I noticed that the 2014 LESPS, UNC Dollar Set and the final “Preamble” Platinum Coin have yet to be assigned release dates. Historically, all of these annual releases have had late spring to mid-summer availability dates, and the Mint currently has all of the “coin” components needed to produce both of the sets.
Which begs the question: “Are these product releases also victims of ‘The Packaging Problem,’ and just how prolific is this problem?” Slow boat to anywhere…. but the US.
Clark says
Thanks, gentlemen. Good advice from good people who know of what they speak when it comes to all things BHoF. Based on your sage advice, I won’t cancel the order. I will return the defective silver BHoFs, which could be a lot, and keep the rest in my collection.
VaR-To your question, I guess I was ambivalent because I don’t flip and have never bought this many of one (two?) varieties for my collection before. My stock portfolio is healthy so I’m not getting these for an investment, although purchasing 100 oz of silver arguably is an investment.
Hidalgo-I respect your opinion, but I alone determine the size of my collection. Two of any coin may work for you, which is great. Many, but not all, of my collections also have one or two coins of each variety, but there’s this darn “forever” quality about these BHoF coins (sans the clads) that I keep talking about and just can’t shake : )
Cag & GoldFishin–Thank you both!
Clark says
and PittsP too, Thanks!
VA Rich says
VABB – Greetings from the 51st State! Middle age sleep insomnia.., anticipating a ‘possible’ business unit divestiture/RIF later this fall.., which is a real downer ’cause it’s getting in the way of my coin collecting! May have to move my Flag Ship to happier sailing waters in Florida or Texas! haha
Good luck Clark – I’ll have about the same tucked neatly away for a long winters nap.
Cag/Jeff – both you gentlemen may be in the ballpark on the $1 mintage, or somewhere in between. My 03 April’s look good, some with orange spots, my 04 April’s.., not so good. Some I conscientiously would never sale nor gift.., some look pretty rough, about 25% pass muster compared to the first shipment. I’ll be refunding up to 8 this week, Clark may be refunding some, refunds could add up.
stephen m says
VABEACHBUM, The mint will solve “The Packaging Problem” but it will take time, like everything government. Slow but sure.
cagcrisp says
I got in 22 BHOF Silver Proofs Friday and Saturday. Currently I have given 9 people a Silver dollar. Some I have not seen in 15 years. All were either Softball or Baseball coaches either currently or in the past. Most have coached with me. None knew that they were getting a coin. I got a FB message from one coach yesterday that I mailed a coin to on Saturday and that I have not seen in 15 years and his exact quote was “Hey buddy thanks for the coin don’t know what I did to get it but it’s real nice” After the discussion covered various subjects such as gambling in a Bingo casino and whether or Not a Silver dollar would fit in a slot machine he ended with this reply “I’ll put on shelve that way when I see it I’ll know where I got it. And remember all the fun times we had I miss those good times”. Do you think that conversation was not worth $50 to me?
I hand delivered a Silver yesterday to the First Softball coach my daughter ever had. I asked him how many teams he had coached and he really did not know. He showed me 3 rows of 12 pictures of various teams. Baseball, Softball, Soccer and Basketball. Most he coached but some were just team pictures of teams his 3 children participated on. To make a long story short he broke down emotionally on 4 different occasions looking at the Silver dollar. Do you think that conversation was not worth $50 to me?
Clark says
Well done, Cag. Well done.
Sith says
@Hidalgo – Which investment firm do you work for? You do realize this is a blog about coins, not investing? Can you kindly refrain from taking the every opportunity to tell us how much money you have made in the market, or worst what fools we are for investing in PMs. I’m happy you have made money in the market but unless you are giving me a percentage I don’t care , and if I wanted to learn how to diversify my portfolio I would not be reading a coin blog, I would be reading an investment blog.
longarm says
Buy what appeals to you.
gary says
I think they could just as well made this gold Kennedy out of lead. It’s just another peculiar oddity like the Baseball Hall of Fame coins. The boom and bust cycles of these modern offerings will eventually reach a saturation point. For as many individuals and companies who profit on these coins in the short term, there is a large number of individuals who find out that they got burned and never return to the hobby. Really, how many young adults can afford to collect these things and maintain an interest in them?
Brad says
Man, this is about the closest to the border weekly gold average I’ve seen since the Mint implemented the new weekly price change policy. This week’s average is $1,299.53 with one price fix to go. I sure hope the softening price today holds long enough for tomorrow’s fixes to both come in low enough so there will be a price drop. The am fix will need to be below $1,303.75 and the pm fix below $1,300 for the price drop to happen. My luck though, the am fix will be low enough but the pm fix will be just high enough to block the decrease!
Brad says
Something just occurred to me. This week’s price calculation determines the opening day price of the gold Kennedy coins. A potential one-tier decrease would mean a $37.50 price drop on those coins, and will cost the Mint upwards of $1.5 million in lost revenue! $1.5 million is the amount lost on just the initial 40,000 coins that are “ready to go”, too. If they take orders for more than that on the first day and the morning of the second day, the lost revenue would be even more.
I won’t even bother to try to get a gold Kennedy coin on Tuesday at the show. Maybe Wednesday. I’m not even GOING to the show on Tuesday. Screw it. It’s not worth the frustration.
cagcrisp says
@Brad, there is also the potential that the price stays above $1,300.00 and Sales are done @ $1,277.50 on Tuesday and then we Potentially could have a $37.50 price drop on next Wednesday’s fix. Then you would have Potentially people cancelling order that they made on Tuesday and re-ordering on Wednesday. If you got one of the first 40,000 then you have to ask yourself is it worth $37.50 to get the coin early? If you are not lucky enough to get one of the First 40,000 then cancel away and re-order. The time frame between a backorder on Tuesday and backorder on Wednesday would probably be minimal (IF not the same backorder date).
At least that is the way I would play it.
I am like you and Hope we get a drop so we can get initially sales at $1240.00.
FMV of Gold IMO is around $1,200.00 so one tier from that point is better than two tiers…
TimTom says
Even if I could afford the gold Kennedy, there is NO way I’d cancel an order on the initial shipment of 40K which are probably going to be the best quality and almost guaranteed to get one if in b4 the big boys shenanigans. Cancelling to saves $37.50 in this instance would be crazy if you have an initial order. Now, following this logic over time wastes a TON of money, but in just this isolated instance, there’s no way I’d cancel.
cagcrisp says
For those that don’t keep up with the Gold BHOF, supply has continued to Drop on the Bay. Demand (Number of Bids) is Strong. Pricing continue to increase.
One week ago average pricing for 4 days was in the upper $500 range. NOW one week later and pricing is averaging in the mid $600 range and continues to increase as supply has decreased…
Brad says
Cag,
It’s always fun to watch the age-old law of “supply and demand” at work in real life, isn’t it? 🙂
smiledon says
@ cagcrisp
What you did is what makes this world go round.
I try to follow the line that it is easier to make a buck then make a difference.
You, good sir, made a difference.
cagcrisp says
There was one 6 coin BHOF Complete Set that Sold for $1,899.95 on Friday.
I guess that person was not interested in shopping around for better pricing. Get ’em all at one time and be done with it…
TimTom says
With today’s “downward correction” going on right now with gold, I wonder if any Mint higher-ups put calls into some fund manager buddies. $1.5M is a lot of money to go toward the books, bonuses, etc 😉 I kid, I kid, kind of.
VA Rich says
Fingers crossed we get the price drop and this all pans out – http://www.coinweek.com/coin-clubs/american-numismatic-association/coin-analyst-second-look-prospects-gold-kennedy-coins/
cagcrisp says
@VA Rich, On 07/10 you said “50k +/- 8k”. You sticking with that?
Sith says
The mint charges 30% on top of the average spot price, I don’t think they are hurting. Besides if these correction were hurting the mint they would have change the format with their regular gold issues. Then add with $512.4 million dollars in revenue for , I’m sure they can afford to cut me some slack and allow a me a slight $37 deduction. who I’m I to complain, it is more money in my pocket
Sith says
VA Rich – Nice article, however but as longarm said “buy what appeals to you” and none of this matters.
Sith says
My 2 cents, with a household limit of 1 the UHR sold about 28K on the first day, that and the demand seen for the clad coins means the whole 40K worth of Kennedy coins will go poof within 24 hours. Depending on how fast the mint can replenish the coins I suspect a final mintage of about 120K-150K, I leave it to you to ask if that mintage will maintain secondary values.
Louis says
I buy what I like, but not blindly as if aftermarket potential means nothing. That is just wasting money.
Ikaika says
@ Louis
May I add: “Buy the coin, not the holder”. Too much talk about label and profit these days. People are forgetting about the coin!
Jon in CT says
I suspect the Mint’s 40,000 gold Kennedy production run consumed every suitable gold blank/planchet that was available. No other products from the mint require the 0.75 troy ounce .9999 fine gold planchets. So I expect there will be a relatively long lead time between next week and when the second batch of gold Kennedy coins can be produced.
Steve says
Any guess how long it will take to sell the first 40,000 gold Kennedy coins?
VA Bob says
Brad – The Mint might lose $1.5 extra profit but they aren’t losing a penny of the money they bought the gold blanks with. Not with the premiums they are charging.. It’s all built into the price, and the house never loses.
VA Bob says
Steve – with the ANA show and Mint stores coins aside, I wouldn’t be surprised if these (40K) go the first day or two. For the folks that want them there is no down side to order early. Why wait, then it will take months to get your coin.
Jon in CT says
VA Bob wrote on July 29, 2014 at 3:19 PM:
The possible downside is that the Kennedy gold coins might be more expensive on the first day of availability, Aug 5, compared to the second day, Aug 6. That could happen if tomorrow’s London PM gold fix is $1300 or more, and if it is followed by a week of London gold price fixes below $1300.
Louis says
Most people would rather run the risk of paying a little more than the risk of waiting a long time to get their goods.
Jon in CT says
Louis wrote on July 29, 2014 at 3:36 PM:
Home Shopping Network and others are counting on that sentiment to hold true. Otherwise, how could they sell any Kennedy gold coins while the Mint is still selling them at the same time for a lower price? Of course, people who are actually buying these coins just for their own collections would be dumber than a sack of rocks to pay more than necessary, regardless of whether it takes three weeks or three months for the coins to arrive.
Clark says
I mentioned it earlier, but it’s worth mentioning again as Aug. 5th gold Kennedy sales day approaches: Warehouse retailers and smaller resellers will play the same hedge we saw with gold $5 BHoFs and 2009 UHRs by charging very high premiums between the Mint’s first and second production rounds. We got a clear picture of this last week with the clad Kennedy set. I predicted 75,000 gold Kennedys sold on one day one and will stand by it.
Louis wrote about the iconic nature of the gold Kennedy…I’d add that photos of JFK are next to the definition of the word “iconic” in dictionaries. The rush to get these will be an emotional spectacle that will make Baseball Hall of Fame commemorative coin launch day look tame by comparison. The takeaway is that readers here have the valuable advantage of being informed (and experienced with waiting room nuances) and will get 1-5 gold Kennedys if they choose. The uninformed and those who wait will pay high premiums until many months from now when the Mint finally fulfills late production orders.
Louis says
Yeah, these babies are as iconic as they come!
Dustyroads says
No one wants to spend and additional $37.50 Tuesday, but if what I hear about quality issues is true with the later BBHoF’s, then it’s worth trying to get the earlier coins regardless a “possible” price decrease the next day.
Louis says
exactly.
VA Rich says
cag – up until 68K sets sold on Thursday. What happened on Thursday is this – we all got an education in the power of marketing on FB. It’s a crap shoot now as to how it will unfold, and undoubtedly be quite the spectacle come Tuesday.
Though some of you all out here (including myself) may not be prepared for what this new dynamic may bring, nor care much for it in short order…, just say’n!
Dustyroads says
It doesn’t appear to me that the coin collecting hobby is suffering in any way.
Dustyroads says
Facebook, Twitter, and instagram are apparently far more reaching than we know.
Jon in CT says
Dustyroads wrote on July 29, 2014 Aat 4:10 PM:
Please share with us whatever nonsense you think you heard about quality issues with the later BHoF gold coins. I remember reading that the exact opposite was the case in a recent comment at https://mintnewsblog.com/2014/07/kennedy-half-dollar-clad-set-first-day-sales-reach-68974/comment-page-2/#comment-97466 where:
GoldFishin wrote on July 27, 2014 at 9:53 PM
Louis says
Maybe gold was better later, and silver was worse. That is how it looked to me, but it is not clear whether this was a trend that held for a lot of people.
Jon in CT says
Louis wrote on July 29, 2014 at 4:35 PM:
Or maybe the assertion that later strikes of the same gold coin had quality issues is a complete load of steaming cow dung.
cagcrisp says
I had No issue with Any of my Gold BHOF coins. The cut-off for the first batch of Gold’s was like 1:05pm 03/27 and my order was 1:15pm 03/27. There was Quite a lag time between batch 1 and batch 2. Lot of time to get quality down pat.
It Could be a Gold vs. Silver thing as Louis has pointed out.
I have several AGE’s and some Buffalos and I have never had any quality control issues with Golds, however, I do tend to order First Day so maybe I am just getting better quality…
Dustyroads says
Jon, You may very well be right about it being nonsense, but at least in MY thinking the earlier silver strikes may be nicer. If you want to say that the later struck coins are just as nice as the earlier one’s, be my guest, but I’m leaning towards the earlier struck coins having the most eye appeal. In your re-post, goldfishin clearly enough stated that he had a feeling that the later struck silvers were lacking the same eye appeal as the earlier, and that the gold looked better to him. There are variables at work here, he may have had a very much different experience than say VARich has had, or not, but dies do have issues along with people working the presses.
Dustyroads says
OT~VARich, After you mentioned the unc. age sells not too long ago I decided to track them. The funny thing is that the mintage numbers look to me as they are being adjusted or averaged down on three week intervals. So to test what I thought may be happening, I figured what the number sold would be for the 7-27 sells report from the Mint and I was only 8 off. Anyway, they are sleepers in my opinion.
fmtransmitter says
2015 NP quarters are announced…
http://www.usmint.gov/pressroom/?action=press_release&id=1601
Sith says
@Louis – Nobody wants a loser, for no other reason than you could have bought it cheaper, but the article was about secondary prices, and increases not loses. As this is a gold coin the metal content should put a floor under any devaluation and hopefully add to its appreciation. Even the RP Buffalo which is a “loser” coin you can still get you money out of it, with a slight profit. And no I don’t want to start another flame war between PMs, and clad coins.
longarm says
My Kennedy order that went thru at 2:39 pm shows “in stock and reserved”.
VA Rich says
FM – so the turkey won out over the skyward view of the kingfisher? Did I miss that?
HiCal says
According to the US Mint’s Numismatic Sales report 84,593 50th Anniversary Kennedy Half-Dollar Uncirculated Coin Set sold thru July 27, 2014.
VA Rich says
Thought we’d see the canon on Saratoga, not passing of the batonne
Wes says
My UNC Kennedy set ordered the night of 7/24 expected ship date now says 8/2. That has moved from original date of 9/10. Then to 8/10. curious to see if i will go out. To bad they can’t combine shipping with my BHOF coin that is in stock and reserved. Think they should give me a break for waiting 4 months.
VA Rich says
Hope it works out for ya Dusty, hate that I won’t get to play, though the setting may
be just right
GoldFishin says
OT- Looks like Smoky Mtn could end up being low mintage for the year for the 5 oz. pucks. I know there was a couple predictions here that Smoky Mtn. might be the high mintage for the year after the production limits were raised to 30K. Looks like Arches will surpass Smoky Mtn, but maybe Great Sand Dunes sales could come under it if all the JFK buyers skip its purchase for “lack of funds”. The Everglades will for sure pass the Smoky Mtn offering and could be the high mintage for the year.
Precious Metal Products NR1 2014 ATB SILVER UNC 5 OZ – SM MTN 24,705 N
Precious Metal Products NR2 2014 ATB SILVER UNC 5 OZ – SHDOAH 24,775 Y
Precious Metal Products NR3 2014 ATB SILVER UNC 5 OZ – ARCHES 24,668 Y
Dustyroads says
That’s the way it happens some times VARich, things will brighten up in time. I really don’t have the money to play right now myself, but will find a parking spot for the gold anyway, I can taste it all ready. Tomorrow or Thursday I’m going to makes some sells and get some income started, that will take the edge off any buying uncertainty I would otherwise encounter. Hopefully the gold Kennedy will age like a fine wine. Best wishes.
Steve says
@VA Rich…I agree on Saratoga….the canon would of been much better. While not all of the other designs were my first choice, they are still great and I look forward to them.
Re: Gold Kennedy….a few weeks ago I convinced myself that I would pass on this coin…another RP Buffalo type thing that will be minted in high quantities and probably be available for less than issue price a year or two down the road. But the demand (85,000+ i think) for the unc set has made me re-think things….and those pictures of the gold Kennedy in OGP are very attractive. So, I may be in the waiting room for one or maybe two at most.
However, to be honest, I am REALLY looking forward to the four coin silver set….reasonably priced…reverse proof, enhanced unc, etc….I think that set will be without a doubt the most popular offering the Mint has ever done…and a few months ago I would of said the same thing for the Baseball HoF coins…funny how we migrate with anticipation to each new exciting Mint offering! I love it!!
Dustyroads says
Steve, I wish I felt the way you do about the silver set. My feeling is that they will be way over sold and as boutique as the ASE special offerings were beginning to look. I however will enjoy owning a set or two just for the fun of it, but really believe in the gold 3/4.
rpw says
Has anyone looked at the NGC website criteria for the “First Day of Issue” grading designation for the Clad Half Dollars?
Specifically it reads:
“First Day of Issue” Note: NGC will offer its “FIRST DAY OF ISSUE” designation for 2014 High Relief 50th Anniversary Kennedy Half Dollars that are purchased on the first day of sales. The original US Mint purchase receipt must be included. Please follow the submission instructions and requirements below:
2014-P and D High Relief Clad Half Dollars must be received by NGC on or before Monday, July 28, to receive the “First Day of Issue” designation. Select the Early Bird Tier or higher and specify “First Day of Issue” on the submission form. US Mint purchase receipt must be dated July 24.
I ordered the 2 coin clad set on 24 Jul but it is backordered until 4 Aug (currently) which you would never know until you actually placed an order.
In other words — there is NO WAY it would be received by NGC by 28 July in time to meet their deadline per their website. I called them the next day (25 Jul) and asked if this was an error on their website and this was the reply I received:
“You would have had to have gone to The Mint physically to purchase them and then send them.”
Thank you,
Lisa
Customer Service | Numismatic Guaranty Corporation
p. 800-642-2646 or 941-360-3990 x134 | f. 941-360-2553
NGCcoin.com
I replied to the email stating that this made NO sense because unless you could physically go to a brick and mortar store to make the purchase – you have NO CHANCE to get the “First Day of Issue” Designation.
I just don’t get the logic (if there even is any)! These labels are all a waste of money to begin with so when people are willing to pay for a (useless) label…..why make it more difficult for people to get them?
It just made things a lot easier for me……I’m thru getting coins graded.
Has anyone else understood this situation differently or experienced the same?
Just curious because JUST MAYBE I missed something!
Thanks And Best of Luck in your Coin Collecting.
I’ll just stick to Bullion from now on. NO Grading/Labels required!
rpw
Howard says
Half to differ Dusty, a Kennedy reverse proof and enhanced version to boot.
I say this will always be a very special silver set. Especially if this is it for the
half.
Pittsburgh P says
Especially if the silver set isn’t released til late December(sarcasm) but the longer they wait the less time it’ll be available therfore less mintage imo
GDT says
$1,240.00 for the proof Gold! That leaves out.
Philboy says
$1240 is lower than I expected. Not sure how many, if any we will be buying.
Laurence Ramos says
The biggest coin dealers ripped of the coin collecting hobby, Silver town has 44 gold Kennedy’s for sale on Ebay right now. for two days of sales at the coin show? BOYCOTT Silver town.