"official" Gold Kennedy cancel order thread.
agentjim007
Posts: 6,256 ✭
I don't know about you guys but $6200 is a gamble out of my comfort zone. I did place several orders so I can cancel down to my comfort zone. No max. Limit and no offers to buy ( usually with order limits some of the big boys offer small but fair profit). I got one hand on the cancel button watching this play out. With that said the UHR had no order limit and has done quite well in the long run.
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Comments
I knew it would happen.
<< <i>With that said the UHR had no order limit and has done quite well in the long run. >>
A point well taken!
The name is LEE!
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<< <i>With that said the UHR had no order limit and has done quite well in the long run. >>
A point well taken!
True, but the UHR is a gorgeous design, well executed, and will remain timeless whereas the gold Kennedy is...well...not.
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<< <i>With that said the UHR had no order limit and has done quite well in the long run. >>
A point well taken!
True, but the UHR is a gorgeous design, well executed, and will remain timeless whereas the gold Kennedy is...well...not. >>
Which is why so many 1964's were tucked away?
And for being a Presidential coin, I find the original design to be quite pleasing compared to say, the Jefferson (lack of detail), Roosevelt (Lack of Detail), and Washington (yetmore lack of detail). The Kennedy offers quite a bit on the obverse AND the reverse. But those danged arrow heads look silly and could have used quite a bit more work.
The name is LEE!
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<< <i>With that said the UHR had no order limit and has done quite well in the long run. >>
A point well taken!
True, but the UHR is a gorgeous design, well executed, and will remain timeless whereas the gold Kennedy is...well...not. >>
Which is why so many 1964's were tucked away?
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I see your point... on timelessness. The coin should've been terminated years ago. It has turned into an "eternal flame" unto itself but with very few visitors as of late. As far as the gold version, I don't see the current generation making a new lasting connection. It's just bullion parading as a commemorative (to itself.) It's only hope is if the Mint pulls the plug early...
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And for being a Presidential coin, I find the original design to be quite pleasing compared to say, the Jefferson (lack of detail), Roosevelt (Lack of Detail), and Washington (yetmore lack of detail). The Kennedy offers quite a bit on the obverse AND the reverse. But those danged arrow heads look silly and could have used quite a bit more work. >>
ed4qs
Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
3 different times it crashed. Read about all the orders already taked so I said the heck with it and I predict that I will be able to buy a PCGS PR70 1st Strike Coin in a couple of months for about $200 over issue price so that is the way I will go.
Bought my REV PF Gold Buffalo this way for $200 over issue price already graded as PF70 Reverse Proof 1st Strike.
GrandAm
<< <i>I was going to buy (3) Gold Kennedy's yesterday,,,,,,, got in the waiting line at 11:45 am,,,, at 12:00 PM joined the wait room,,,,,, it said 1 hr and 15 min wait,,,,,,,,, waited then the site crashed,,,,,,,,
3 different times it crashed. Read about all the orders already taked so I said the heck with it and I predict that I will be able to buy a PCGS PR70 1st Strike Coin in a couple of months for about $200 over issue price so that is the way I will go.
Bought my REV PF Gold Buffalo this way for $200 over issue price already graded as PF70 Reverse Proof 1st Strike.
GrandAm
Sorry to hear that the site crashed. That is a bummer to sit there for a half hour or more and get nothing. The mint treats collectors like trash. In the mean time the flippers get five coins. I were a flipper I'd take the money, run and keep my mouth shut.
ZeroHedge makes debut at White House press corps briefing
I can alway send them back to the mint after that.
I know it takes awhile for money to be returned but thats the way it goes.
<< <i>Lot of lookers and a few watchers but no buyers on ebay. >>
quite a tell..... hype may peak the initial move, too soon i
I made 3 separate orders & will definitely get the first order. I want to see the coin in person. Some are saying they like the design, some don't. I want to see it for myself & then decide.
The other 2 orders are in serious jeopardy of being cancelled.
I'd much rather own 'RYK' style gold in my collection.
Order Date: 08/05/2014 at 02:24 PM
Order Status: Your order request is on hold.
2014 KENNEDY ANNIVERSARY GOLD COIN 2 $1,240.00 $2,480.00 2 units backordered. Expected to ship on 08/27/2014.
I can still cancel but at least my order date has been pulled up a week. Was 09/03/2014 yesterday.
<< <i>It would be nice if some the flippers and the dealers who have turned buying these coins into a scenario from hell would lose some of their fins and perhaps their shirts. Maybe then the collectors would have a chance to buy the coin they wanted. >>
I agree. The flippers greatest trick was convincing folks that a small piece of paper inside a slab containing a generic piece of bullion is worth thousands of dollars.
If there were no premium for the special labels none of this would be happening. A gold Kennedy ordered 3 months from now, and delivered 6 months from now should have the same value as an ANA slabbed coin.
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<< <i>It would be nice if some the flippers and the dealers who have turned buying these coins into a scenario from hell would lose some of their fins and perhaps their shirts. Maybe then the collectors would have a chance to buy the coin they wanted. >>
I agree. The flippers greatest trick was convincing folks that a small piece of paper inside a slab containing a generic piece of bullion is worth thousands of dollars.
If there were no premium for the special labels none of this would be happening. A gold Kennedy ordered 3 months from now, and delivered 6 months from now should have the same value as an ANA slabbed coin. >>
Can anyone imagine a Pan Pac Octagonal in a holder with a "First Sold" label? It's ridiculous on the face of it.
Box of 20
I'm happy to wait and see them when they come in, cherry pick the better one for myself, and then see where the market is at that time (mid next week?) and then either flip the other one, or worst case return it. I've never had a problem with a mint return.
So I just spent a few minutes yesterday over lunch ordering two, I don't see any sense of urgency to cancel anything now. A lot can change in a week, and again, the Mint protects me on the downside, at least through the return period.
Am I missing something?
<< <i>The only flipping window is if the mint cuts off ordering. Why anyone would pay over the current mint price, WHILE YOU CAN BUY ONE FROM THE MINT, is beyond me. >>
As you noted it's the label collectors. The order cut-off for First Strike and Early Release labels has likely already occurred. Those ordering now likely won't be eligible for the those labels!
<< <i>Maybe I'm not looking at it correctly, but I ordered two yesterday, planning to keep one and flip one.
I'm happy to wait and see them when they come in, cherry pick the better one for myself, and then see where the market is at that time (mid next week?) and then either flip the other one, or worst case return it. I've never had a problem with a mint return.
So I just spent a few minutes yesterday over lunch ordering two, I don't see any sense of urgency to cancel anything now. A lot can change in a week, and again, the Mint protects me on the downside, at least through the return period.
Am I missing something? >>
Your plan is perfect for you. Go for it and tell us how it turned out, good or bad.
For me, I only ordered 2 by a glitch on the mints checkout. The wear and tear in my head going back and forth to keep the second one, flip it sealed or get it slabbed just wasn't worth it. So I canceled the extra order I never intended to make.
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<< <i>
<< <i>It would be nice if some the flippers and the dealers who have turned buying these coins into a scenario from hell would lose some of their fins and perhaps their shirts. Maybe then the collectors would have a chance to buy the coin they wanted. >>
I agree. The flippers greatest trick was convincing folks that a small piece of paper inside a slab containing a generic piece of bullion is worth thousands of dollars.
If there were no premium for the special labels none of this would be happening. A gold Kennedy ordered 3 months from now, and delivered 6 months from now should have the same value as an ANA slabbed coin. >>
Can anyone imagine a Pan Pac Octagonal in a holder with a "First Sold" label? It's ridiculous on the face of it. >>
In the world of political items there used to a premium for some of the buttons that issued during a specific event, like the arrival of candidate to give a speech at a particular location that shown on the pin, but I'm not sure that market is hot any more. I did pay a premium for a made medalet that was issued for a parade that was held honor of U.S. Grant in Philadelphia on December 16, 1879. The medalet is fairly common, but I had never seen an example of the little blue envelope of issue. The premium was all of $30. The medal is worth about $20 Choice BU, which this example was.
<< <i>Cancelled my order before I made it. >>
Waaaay too many sold and soon to be dumped....so I just cancelled all 4
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With the Mints recent track record of crappy delivery, this First Strike game is a hard one to play. Even if all you want
is a single raw coin for the collection, buying now is not too enticing. You are paying a premium $1653 / oz of Gold -
todays spot was around $1306 .
The recent Baseball HOF profit circus has drawn too many participants to the party. We are in serious danger of having
another Statue of Liberty outcome with these Kennedy's.
Imagine how the coming hi-relief Coin is going to be ruined by the performance of the UHR of 2009.
The way in which the Mint has marketed these pre-early release coins along with the ANA means that the issue has created a hyper inflated interest that really only appeals to those interested in making some quick cash. In my mind the Kennedy has become a failed collectible long before it ever became a collectible. I'm out. I actually used to enjoy collecting and was interested in moderns, but its just become too much about the label and the profit and not the coin itself. Cancelling 4, but will still keep one. Rant over.
Decided not to swim in that pool at all
The Mint has found the formula to move product again. Good for them. I'll wait to get a Gold Kennedy at junk
prices after a good bullion crash.
By the way, how are the BB HOF Golds doing lately? Anything left in that one - maybe the time is right to pick
up one of those. I got a Silver Proof last week and I liked it, a slabbed Gold Proof might be a thing to have.
<< <i>I don't know about you guys but $6200 is a gamble out of my comfort zone. I did place several orders so I can cancel down to my comfort zone. No max. Limit and no offers to buy ( usually with order limits some of the big boys offer small but fair profit). I got one hand on the cancel button watching this play out. With that said the UHR had no order limit and has done quite well in the long run. >>
agentjim, very telling thread.....thanks for your DD quotient being applied to this modern realm of 'numismatics.'
edited to add: Orville was the inspiration on my post.....my little mind would not have thought to have gone there."
<< <i>Ich bin kein Flipper. " Ich bin ein Berliner."
Fixed Linkeroo