Gold Kennedy minted to demand (Now 75,000 Limit) - Where does it go from here ?
HATTRICK
Posts: 2,143 ✭✭✭✭✭
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
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
0
Comments
NGC labels
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.
Hoard the keys.
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.
<< <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.
<< <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.
The name is LEE!
<< <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>
<< <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 !
<< <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? >>
-Paul
<< <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
Cheers,
Bob
Statue of Liberty push all over again. Maybe even Statue of Liberty production numbers - again.
Good bye resale value.
My guess is 42,000 golds
This issue should close the series
No longer mint halves
<< <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!
<< <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.
Disclaimer: I do my fair share of flipping.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <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. >>
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.
<< <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.
<< <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.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
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.
Box of 20
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
The key is how do we place our orders online, while on line at the show
<< <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
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.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <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.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <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
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
- Ian
Owner/Founder GreatCollections
GreatCollections Coin Auctions - Certified Coin Auctions Every Week - Rare Coins & Coin Values
<< <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.
<< <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.
<< <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?
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.
for a good profit, day one will be the time unless there is a reasonable limit to how many they sell at the show.
Picture the old Soviet union airport customs lines in Moscow, back in the 70s and 80s
60 years into this hobby and I'm still working on my Lincoln set!
<< <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