Modern Coin Scene: In-Person Sales of JFK Gold Coins Suspended

2014-W JFK Coin Sales Surge | Goldmart.com: America's low cost precious metals dealer

In-Person Sales of JFK Gold Coins Suspended

The frenzy to obtain 2014 JFK gold half dollars at the ANA show and the Mint’s retail locations got so out of control by Thursday, August 7 that the Mint and ANA announced it was suspending those sales operations.  They said the move was taken for the security of JFK Gold Coins | Goldmart.combuyers and the Mint’s staff after media reports of people getting trampled and of robberies and other crimes.  Earlier in the day yesterday the Mint announced that sales in Denver, Philadelphia, and Washington, DC were being suspended, and then in the afternoon it pulled the plug on sales at the Rosemont coin show.

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Modern Coin Scene: First Day JFK Gold Sales reach 56,694

2014-W JFK Coin Sales Surge | Goldmart.com: America's low cost precious metals dealer

August 6, 2014

First Day JFK Gold Sales reach 56,694

JFK Gold Sales | Goldmart.comAs I expected, demand for the gold Kennedy half dollars was huge on the first day of sales as buyers clamored to get coins online and in-person at the ANA coin show in Chicago and retail U.S. Mint locations; JFK Gold Sales surged.

This morning the Mint provided data on the first day of sales, which totaled 56,694, including:  Continue reading

Modern Coin Scene: U.S. Mint Lowers Some JFK Coin Sales Limit to One

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US Mint lowers some in-person JFK Coin Sales limit

JFL Gold Commemorative | Goldmart.comOn July 31 the U.S. Mint issued a special note to members of the numismatic media announcing that the limit for over-the-counter sales of the Kennedy gold half dollars next Tuesday has been lowered from two to one per person.

This is a welcome move, one that I and many other people, have been recommending for some time.

The Mint said it acted “because of expected overwhelming response” and dialog with its customers and others, and that the move will essentially double the number of customer able to purchase the coin at the ANA show and in Washington, DC and Philadelphia.  Continue reading

Modern Coin Scene: JFK Coins a Major Test of Unlimited Mintage

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JFK Coins a Major Test of Unlimited Mintage 

Ever since they found out the U.S. Mint would be issuing special JFK coins to mark the 50th anniversary of the release in 1964 of the first Kennedy half dollars, collectors have been eagerly anticipating the coins.  They also have been keen to find out how the coins would be released, especially because the manner in which that is done has such a major impact on the long-term value of a coin.

The Mint’s prime objectives are to sell as many coins as possible while also trying to ensure a fair and wide distribution of the coins and to avoid receiving complaints from collectors that they were locked out by dealers.  Collectors want to enjoy the coins, while also seeing their value at least maintain itself and preferably increase, while dealers and speculators want to make quick profits.

Most people agree there is plenty of opportunity for quick profits with the gold JFK coins that will be launched on Tuesday online, at the Mint’s Philadelphia and Washington, DC sales facilities, and at the ANA World’s Fair of Money in Rosemont, Illinois, the biggest coin show of the year, where PCGS and NGC will do on-site grading of the coins.

Although many individuals not going to the show were disappointed to learn the coins have no mintage limit, others are relieved that they will be able to get a coin from the Mint.  But the key factors here are that the coins will have an initial household limit of five, and two for in-person sales, and that 40,000 coins have already been minted.

Household limits are critical to spreading out the distribution of the coins, giving the individual buyer a greater role in shaping prices, and will hopefully be maintained for as long as the coins are available from the Mint.  There will be an early frenzy because of high demand and the fact that buyers know the initial inventory will go quickly.  They do not want to wait for the next batch of coins to be made.

Good luck to all buyers!

Modern Coin Scene: CCAC Endorses Mint Proposal for 2015 UHR Set

CCAC Endorses Mint Proposal for 2015 UHR Set  UHR Set

The CACC agreed with the Mint regarding the 2015 UHR Set. This week the Citizens Coinage Advisory Committee held an important meeting during which it was announced that the U.S. Mint has:

  • declined to move forward with the committee’s recommendation from April for a new reverse design on the American silver eagle depicting a classic flying eagle;
  • proposed issuing a set next year that would consist of an ultra high relief 1-ounce gold coin and accompanying 1-ounce silver medal.

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