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Gold Kennedy minted to demand (Now 75,000 Limit) - Where does it go from here ?

HATTRICKHATTRICK Posts: 2,096 ✭✭✭✭✭
Looks like mint to demand for the gold Kennedy's The mint's remarks on Facebook are discussed in this Coin Week Article

mint to demand post from the mint
" If you push something hard enough, it will fall over. " The 1st Law of Opposition from The Firesign Theater
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Comments

  • ConstantineConstantine Posts: 2,338 ✭✭✭
    Gosh darnit!
  • HATTRICKHATTRICK Posts: 2,096 ✭✭✭✭✭
    NGC labels

    NGC labels
    " If you push something hard enough, it will fall over. " The 1st Law of Opposition from The Firesign Theater
  • drei3reedrei3ree Posts: 3,430 ✭✭✭✭
    Could still be mint to demand...for 30 days...
  • KudbegudKudbegud Posts: 4,735 ✭✭✭✭✭
    Who does the Mint consult with to make these decisions? Do they include any collectors or just newly graduated MBA's who think they know it all? Announced through Facebook? Really? How many of us are even on Facebook? I have no interest in it.

  • HATTRICKHATTRICK Posts: 2,096 ✭✭✭✭✭
    image

    Even 30 days will be more than enough for anyone who wants one to order it.

    This will be dead in the water for flipping with the exception of the label chasers looking for show labels.
    " If you push something hard enough, it will fall over. " The 1st Law of Opposition from The Firesign Theater
  • Type2Type2 Posts: 13,985 ✭✭✭✭✭
    That sucks 1st in 1st out only way to make $$ fliping. But I will buy some to keep so no big deal.


    Hoard the keys.
  • 7over87over8 Posts: 4,733 ✭✭✭
    Everyone is so tied up in the "mint to demand" decision.....

    First, there will be householding limits in place.

    Second, it is priced pretty high for the average guy to buy more than 5.

    Third, I cant see there being more than 50,000 coins demanded, if that.

    Fourth, For those with short memories, the USM will usually anticipate demand and strike in anticipation of those sales. Could be 25,000. If demand is crazy early in the game, they will strike more - but usually in smaller increments. As it gets closer to year end, or they are busy striking other items, they will just cut it off.

    What does it mean? It means that even though they are "striking to demand" you may place an order late and never get it.

    The period to buy these will be Aug 5 - through Oct/Nov. Then they will be busy with the Silver sets.
  • brendanlambrendanlam Posts: 662 ✭✭✭
    just checked USMINT Facebook! rep said each person (not household) can buy 2 units (coin) at ANA show and look like no age restriction. so I guess that is a good news for those who has kids and probably make quick money on this gold coin.
  • 7over87over8 Posts: 4,733 ✭✭✭
    reply by US Mint on their facebook page



    << <i>Order limits at retail sites and other venues may be limited to two units. The household order limit (via website and phone orders) is five units. >>



    *Note the use of "may be"

    I don't think we have a definitive answer of how many or what rules apply at the ANA

    However, they are very stern on the household limit "is" five units.
  • 19Lyds19Lyds Posts: 26,470 ✭✭✭✭


    << <i>Who does the Mint consult with to make these decisions? Do they include any collectors or just newly graduated MBA's who think they know it all? Announced through Facebook? Really? How many of us are even on Facebook? I have no interest in it. >>

    I agree. Using Facebook and Twitter is kinda sucky and sophomoric! Certainly NOT how I'd consider a world class business to operate.
    I decided to change calling the bathroom the John and renamed it the Jim. I feel so much better saying I went to the Jim this morning.



    The name is LEE!
  • dbcoindbcoin Posts: 2,200 ✭✭


    << <i>

    << <i>Who does the Mint consult with to make these decisions? Do they include any collectors or just newly graduated MBA's who think they know it all? Announced through Facebook? Really? How many of us are even on Facebook? I have no interest in it. >>

    I agree. Using Facebook and Twitter is kinda sucky and sophomoric! Certainly NOT how I'd consider a world class business to operate. >>



    Huh? Get with the times. You should all be happy the Mint is using Facebook and Twitter as it may get younger collectors turned on to coins. PCGS uses FB and TWTR. Would you rather they put ads on denture cream and Depends boxes?
  • FullStrikeFullStrike Posts: 4,353 ✭✭✭


    << <i>

    << <i>

    << <i>Who does the Mint consult with to make these decisions? Do they include any collectors or just newly graduated MBA's who think they know it all? Announced through Facebook? Really? How many of us are even on Facebook? I have no interest in it. >>

    I agree. Using Facebook and Twitter is kinda sucky and sophomoric! Certainly NOT how I'd consider a world class business to operate. >>



    Huh? Get with the times. You should all be happy the Mint is using Facebook and Twitter as it may get younger collectors turned on to coins. PCGS uses FB and TWTR. Would you rather they put ads on denture cream and Depends boxes? >>




    I can see it now ..... Hmmmm do I still buy my 5 friends those Bacon McDoubles or should I get this Gold Kennedy Half
    Dollar? WHAT ? Wow no way $1400? That's my McDonalds budget for the next 3 years !
  • commoncents05commoncents05 Posts: 10,077 ✭✭✭


    << <i>

    << <i>

    << <i>Who does the Mint consult with to make these decisions? Do they include any collectors or just newly graduated MBA's who think they know it all? Announced through Facebook? Really? How many of us are even on Facebook? I have no interest in it. >>

    I agree. Using Facebook and Twitter is kinda sucky and sophomoric! Certainly NOT how I'd consider a world class business to operate. >>



    Huh? Get with the times. You should all be happy the Mint is using Facebook and Twitter as it may get younger collectors turned on to coins. PCGS uses FB and TWTR. Would you rather they put ads on denture cream and Depends boxes? >>



    image Just because you're not with the times doesn't mean you should complain about those who are.

    -Paul
    Many Quality coins for sale at http://www.CommonCentsRareCoins.com
  • LindeDadLindeDad Posts: 18,766 ✭✭✭✭✭
    Forecast a short life then smelter food.
  • KudbegudKudbegud Posts: 4,735 ✭✭✭✭✭


    << <i>

    << <i>

    << <i>Who does the Mint consult with to make these decisions? Do they include any collectors or just newly graduated MBA's who think they know it all? Announced through Facebook? Really? How many of us are even on Facebook? I have no interest in it. >>

    I agree. Using Facebook and Twitter is kinda sucky and sophomoric! Certainly NOT how I'd consider a world class business to operate. >>



    Huh? Get with the times. You should all be happy the Mint is using Facebook and Twitter as it may get younger collectors turned on to coins. PCGS uses FB and TWTR. Would you rather they put ads on denture cream and Depends boxes? >>



    I'm questioning the news being released on FB first. I agree using FB & Twtr is good for young collectors and other. Not denigrating those who use these social services. But someone would have to be members and following the mint on these services or the post would not be noticed. Just another flea in an ocean of noise.
    Bravo for appearing so modern and with it. Now how about making the ordering and delivery systems just as modern and with it? T

  • OuthaulOuthaul Posts: 7,440 ✭✭✭✭✭
    Too bad this wasn't going to be the last JFK coin. I'm ready to see this boring coin go away.

    Cheers,

    Bob
  • FullStrikeFullStrike Posts: 4,353 ✭✭✭
    I'm betting there will be a big general media splash with these ... TV, Magazines, and Newspapers. It will be like a
    Statue of Liberty push all over again. Maybe even Statue of Liberty production numbers - again.

    Good bye resale value. image
  • 7over87over8 Posts: 4,733 ✭✭✭
    Not quite
    My guess is 42,000 golds
  • 7over87over8 Posts: 4,733 ✭✭✭
    But I agree
    This issue should close the series
    No longer mint halves
  • ManorcourtmanManorcourtman Posts: 7,893 ✭✭✭✭
    Thanks US Mint! Now I can enjoy the ANA and not waste several hours waiting in line to buy your latest junk.
  • bestdaybestday Posts: 4,220 ✭✭✭✭
    If no age restriction at ANA show .. it will create a mass chaos crowd like a hungry pack of wolves ..
  • pcgs69pcgs69 Posts: 4,258 ✭✭✭✭


    << <i>But I agree
    This issue should close the series
    No longer mint halves >>



    I bet they are still minted because proof and mint sets need a big coin in there. Would look pretty dull without them!
  • TwoSides2aCoinTwoSides2aCoin Posts: 43,796 ✭✭✭✭✭
    The collector wins when the market is open. You know what is going to be sitting on shelves in the future ? Memories !
  • TwoSides2aCoinTwoSides2aCoin Posts: 43,796 ✭✭✭✭✭


    << <i>The collector wins when the market is open. You know what is going to be sitting on shelves in the future ? Memories ! >>



    If you guessed Susan B. Anthony dollars, you could be right. image
  • HalfStrikeHalfStrike Posts: 2,202 ✭✭✭
    I think it will be a tough sell based on the gazillion other Kennedy coins already out there. If they had done a UHR Kennedy in gold it would have been an easier sell.
  • derrybderryb Posts: 36,118 ✭✭✭✭✭
    The mint's goal is to supply collectible coins to collectors, not to flippers. Secondary markets and secondary marketers should to be of no concern to the mint. Collectors should have no problem with this announcement. Flippers, as the author of the CoinWeek article appears to be, obviously see it cutting into their profits. I prefer the US Mint continue catering to collectors.

    Disclaimer: I do my fair share of flipping.

    The decline from democracy to tyranny is both a natural and inevitable one.

  • Mission16Mission16 Posts: 1,413 ✭✭✭


    << <i>The mint's goal is to supply collectible coins to collectors, not to flippers. Secondary markets and secondary marketers should to be of no concern to the mint. Collectors should have no problem with this announcement. Flippers, as the author of the CoinWeek article appears to be, obviously see it cutting into their profits. I prefer the US Mint continue catering to collectors.

    Disclaimer: I do my fair share of flipping. >>



    image You took the words out of my mouth. There should be no EXPECTATION from the secondary market to be able to make an immediate profit from a mint product. It should just happen. The U.S. mint should be doing two things:
    1. Make coins for circulation. They should be acceptable for commerce. There should be no griping when every one of those BILLIONS of coins won't grade MS70. That is NOT what they are for.

    2. Make COLLECTOR coins to the DEMAND from the COLLECTORS. If a coin simply does not sell anf it is a low mintage, then Happy Day.
  • pitbosspitboss Posts: 8,643 ✭✭✭
    I will just keep my money where it is safe on this issue and let all you collectors enjoy your Kennedy's.
  • pcunixpcunix Posts: 620


    << <i>The mint's goal is to supply collectible coins to collectors, not to flippers. Secondary markets and secondary marketers should to be of no concern to the mint. Collectors should have no problem with this announcement. Flippers, as the author of the CoinWeek article appears to be, obviously see it cutting into their profits. I prefer the US Mint continue catering to collectors.
    >>



    I agree that secondary markets and secondary marketers should to be of no concern to the mint, but the real issue is that collectors are only seen as suckers by the marketing arm of the mint.
  • 7over87over8 Posts: 4,733 ✭✭✭


    << <i>Disclaimer: I do my fair share of flipping. >>



    I'm sure MANY on here do.

    Some of us may not be "label" people, but there is a voracious appetite for these "show" labels. So, we buy them, label them, and sell them. Who cares if open mintage or not. It doesn't matter.

    Then we end up with a nice little profit, most likely enough to own one or two of these with a zero cost basis.
  • PerryHallPerryHall Posts: 45,301 ✭✭✭✭✭
    Don't forget that there have been modern gold commems that were minted to demand that did very well in the secondary market. The Unc Jackie Robinson and the 2009 UHR Saints come to mind. It's anyone's guess whether these gold Kennedy half dollars fall into this category.

    Worry is the interest you pay on a debt you may not owe.

  • pf70collectorpf70collector Posts: 6,503 ✭✭✭
    Just curious how these high relief coins will look like. The renderings by the mint look like regular proof coins to me.

    For an ultra modern, is not a must have for my collection, since I don't collect Kennedys. I will buy the silver set, since I think it will look awesome in a reverse proof.

    But on the fence with the gold. Perhaps buy the gold in the after market after a few years. I may pass on the gold.
  • Friday July 11, 2014 8:17 AM (NEW!) Don't forget that there have been modern gold commems that were minted to demand that did very well in the secondary market. The Unc Jackie Robinson and the 2009 UHR Saints come to mind. It's anyone's guess whether these gold Kennedy half dollars fall into this category.

    True but the greed generated in flippers minds ( and even more those that missed out) is fresh and the charge will be on at the ANA. The demand will slow down after the initial hunger feed. I never thought about the second line you have to wait at to get the coins graded. I will sell raw to someone, there will certainly be a limit at the show. I will share my ANA plan here buried in this response to this thread. Don't repeat this genius idea image I went to the ANA last year and stood in a mile long line ( exaggerated for artistic flair) to register. I watched ANA members walk right in. As a matter of fact a guy was walking up and down the line telling people there was no wait for ANA members. I joined the ANA to be one of the first inside and plan to head right to the mint line. It cost $28 and you get submission privilege to NGC and free admission into the show. If anyone else gives this a try I'll be the good looking guy wearing a beige CRO cap and using a cane. I wouldn't mind having someone around to hold my place because the anticipated wait will be longer than I can tolerate without a rest.
  • 7over87over8 Posts: 4,733 ✭✭✭
    We will all meet on line then......

    The key is how do we place our orders online, while on line at the show image
  • PerryHallPerryHall Posts: 45,301 ✭✭✭✭✭


    << <i> Friday July 11, 2014 8:17 AM (NEW!) Don't forget that there have been modern gold commems that were minted to demand that did very well in the secondary market. The Unc Jackie Robinson and the 2009 UHR Saints come to mind. It's anyone's guess whether these gold Kennedy half dollars fall into this category.

    True but the greed generated in flippers minds ( and even more those that missed out) is fresh and the charge will be on at the ANA. The demand will slow down after the initial hunger feed. I never thought about the second line you have to wait at to get the coins graded. I will sell raw to someone, there will certainly be a limit at the show. I will share my ANA plan here buried in this response to this thread. Don't repeat this genius idea image I went to the ANA last year and stood in a mile long line ( exaggerated for artistic flair) to register. I watched ANA members walk right in. As a matter of fact a guy was walking up and down the line telling people there was no wait for ANA members. I joined the ANA to be one of the first inside and plan to head right to the mint line. It cost $28 and you get submission privilege to NGC and free admission into the show. If anyone else gives this a try I'll be the good looking guy wearing a beige CRO cap and using a cane. I wouldn't mind having someone around to hold my place because the anticipated wait will be longer than I can tolerate without a rest. >>



    You're probably correct but the "mint to demand" may scare off many of the flippers so it will come down to the final mintage. Does the mint usually keep the sales figures secret for commems such as this until after the sales have ended?




    Worry is the interest you pay on a debt you may not owe.

  • derrybderryb Posts: 36,118 ✭✭✭✭✭


    << <i>I agree that secondary markets and secondary marketers should to be of no concern to the mint, but the real issue is that collectors are only seen as suckers by the marketing arm of the mint. >>


    Mint is a government entity, they could care less about profits. Given the choice I'm sure they would love to get out of the collector coin business and get back to just minting circulating coinage. We collectors should be thankful they throw us some bones.

    The decline from democracy to tyranny is both a natural and inevitable one.

  • LindeDadLindeDad Posts: 18,766 ✭✭✭✭✭
    I think the mint is like most of the government agencies anymore and make what-ever policy they want and never the same one on different days. Every release has different rules it seems.
  • bestdaybestday Posts: 4,220 ✭✭✭✭


    << <i>

    << <i> Friday July 11, 2014 8:17 AM (NEW!) Don't forget that there have been modern gold commems that were minted to demand that did very well in the secondary market. The Unc Jackie Robinson and the 2009 UHR Saints come to mind. It's anyone's guess whether these gold Kennedy half dollars fall into this category.

    True but the greed generated in flippers minds ( and even more those that missed out) is fresh and the charge will be on at the ANA. The demand will slow down after the initial hunger feed. I never thought about the second line you have to wait at to get the coins graded. I will sell raw to someone, there will certainly be a limit at the show. I will share my ANA plan here buried in this response to this thread. Don't repeat this genius idea image I went to the ANA last year and stood in a mile long line ( exaggerated for artistic flair) to register. I watched ANA members walk right in. As a matter of fact a guy was walking up and down the line telling people there was no wait for ANA members. I joined the ANA to be one of the first inside and plan to head right to the mint line. It cost $28 and you get submission privilege to NGC and free admission into the show. If anyone else gives this a try I'll be the good looking guy wearing a beige CRO cap and using a cane. I wouldn't mind having someone around to hold my place because the anticipated wait will be longer than I can tolerate without a rest. >>



    You're probably correct but the "mint to demand" may scare off many of the flippers so it will come down to the final mintage. Does the mint usually keep the sales figures secret for commems such as this until after the sales have ended? >>



    It will be a very long line .. you will not the 1st in line for kennedy gold ... being an ANA member.. not only will dealers and their reps will be waiting ahead of you ..there will the early entry badge people at 8: 00am
    Sounds like you not the best of health . best to stand down for ANA kennedy gold rush.. you are correct there will be swarms of people looking for a quick kill buy
    This kennedy gold will a big winner regardless of mint to demand

    There be some 500 dealer tables plus staff ready to jump and buy on Aug 5
    image
  • TwoSides2aCoinTwoSides2aCoin Posts: 43,796 ✭✭✭✭✭
  • ianrussellianrussell Posts: 2,450 ✭✭✭✭✭
    I thought I read somewhere there was a limit of 5 per household? Does this overrule that? Or it is an unlimited mintage, but still only 5 per household?

    - Ian
    Ian Russell
    Owner/Founder GreatCollections
    GreatCollections Coin Auctions - Certified Coin Auctions Every Week - Rare Coins & Coin Values
  • BackroadJunkieBackroadJunkie Posts: 3,745 ✭✭✭✭✭


    << <i>Does the mint usually keep the sales figures secret for commems such as this until after the sales have ended? >>

    The mint (as of late) has become very good at keeping track and publishing the number of orders. Not exactly the same as sales, but close enough.

    If you remember the 2012 and 2013 ASE sets, as well as the RP Buffalo, they even kept order counters on the ordering page on their web site. But even if they don't have the counter, they do publish weekly reports, generated on Mondays.
  • BackroadJunkieBackroadJunkie Posts: 3,745 ✭✭✭✭✭


    << <i>I thought I read somewhere there was a limit of 5 per household? Does this overrule that? Or it is an unlimited mintage, but still only 5 per household?

    - Ian >>

    Still a limit of 5. This can be lifted later as demand subsides. Just like the UHR that had one per household until a couple months into the sale.
  • BackroadJunkieBackroadJunkie Posts: 3,745 ✭✭✭✭✭


    << <i>

    << <i>Who does the Mint consult with to make these decisions? Do they include any collectors or just newly graduated MBA's who think they know it all? Announced through Facebook? Really? How many of us are even on Facebook? I have no interest in it. >>

    I agree. Using Facebook and Twitter is kinda sucky and sophomoric! Certainly NOT how I'd consider a world class business to operate. >>

    Hmmmm.... Can you name me a world class business that isn't on social media?
  • It will be a very long line .. you will not the 1st in line for kennedy gold ... being an ANA member.. not only will dealers and their reps will be waiting ahead of you ..there will the early entry badge people at 8: 00am Sounds like you not the best of health . best to stand down for ANA kennedy gold rush.. you are correct there will be swarms of people looking for a quick kill buy This kennedy gold will a big winner regardless of mint to demand There be some 500 dealer tables plus staff ready to jump and buy on Aug 5

    You're right. I have to alot my time and the waiting line will probably be too much. Would be worth it just to submit at NGC but that line might be too much. I use to be able to park at the CTA lot for 3 bucks but now I have to spend 20 to park across the street and take the shuttle to the door. As far as my health. My heart and blood always test great, it's the arthritis that's wiping me out. I tell everyone I will live a long and painful life.

    Edit: Been thinking several hours in the mint line then more hours waiting to grade, what kind of day at the ANA is that? Even if I could stand all day I wouldn't do that.
  • HATTRICKHATTRICK Posts: 2,096 ✭✭✭✭✭
    Even at two coins per person, they coud sell a lot of coins over three days. For thoes looking to flip quick

    for a good profit, day one will be the time unless there is a reasonable limit to how many they sell at the show.
    " If you push something hard enough, it will fall over. " The 1st Law of Opposition from The Firesign Theater
  • bestdaybestday Posts: 4,220 ✭✭✭✭
    I already have the image of what the ANA Kennedy line will look like .on Aug 5th .
    Picture the old Soviet union airport customs lines in Moscow, back in the 70s and 80simage
  • droopyddroopyd Posts: 5,381 ✭✭✭
    Why should the Mint leave money on the table?
    Me at the Springfield coin show:
    image
    60 years into this hobby and I'm still working on my Lincoln set!
  • bestdaybestday Posts: 4,220 ✭✭✭✭


    << <i>Why should the Mint leave money on the table? >>



    The Mint won't leave money on the table .I will be there ....coin club set to buy a large multiple of the gold Kennedys thru dealers.....watch the mobs on Aug 5 ..it will make last year's buffalo gold reverse ANA offering look tame..
    just like commodity trading .. buy gold kennedys.... make 1-3 times your money image
  • VincennesVincennes Posts: 56 ✭✭
    The line will be as bad as Disney World. I know of one dealer who is sending two charter bus loads of people just to buy for them. I will pass on this and enjoy my vacation with friends and family.

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