<< <i>I thought there was 40,000 ready to go and ship ASAP after credit card checking, etc. Guess not. >>
If you believe the mints statement of 40k ready to go, then there is no reason as of now to be concerned. All orders have to be verified as being compliant with the house hold limit and have a valid credit card. This takes time. Especially with the rush of orders today. Take a breath. You didn't really expect your order to go out the door this afternoon right?
Subtract the 2,500 at ANA, the 2,500 at the mint outlets ( DC, Philly & Denver = 7,500) that leaves 30K for on line and phone orders. Thursday or Friday a lot should be sorted out. The pre-struck 30,000 should start shipping within a week or so....just like the 2 coin clad sets.
First Strike date will start with first shipment so if you got your order in before the 30K were sold your golden (see what i did there )
[q Take a breath. You didn't really expect your order to go out the door this afternoon right? >>
I don't think anyone expects their order to be shipped this afternoon.
There is something wrong with the mint.
It's inability to predict order quantities for a given product and then, to post that your ship date may be 35 - 40 days later after you order when the product is first presented for sale is inexcusable.
All the while, the labeled ANA / Mint direct sales coins go crazy.
I'm with ya Jim...there is a problem at the mint. Maybe the new ordering system will fix some of it when they go live this fall. They are probable going to use the 4 coin Kennedy set as a first big test.
But as to this gold Kennedy shipments should start next week just like the clad sets shipped a week after orders started being taken.
Why is it that I am not in any hurry to lose a bunch of money on overpriced gold that looks only so so pretty? Sure, I like a perfect coin as well as the next guy but the way modern coins are produced, all of them are made to look perfect. Now go find an early pickeled die black and white snowball deep mirror cameo from the early 50's...another story altogether. I always thought that the Kennedy half design was boring, and looking back at their lack of rarities and poor price appreciation over time, apparantly so did many other numismatists. This gold coin is probably gonna be just another stinker after the greed dies down. I will place my order for none and leave the first day of issue or strike hype for the plastic collector. A knowledgeable numismatist does not need a paper insert to tell if a coin is VEDS. If you do buy one, I hope you like having it. Sometimes collecting is plain fun, irregardless of the money involved...or lost.
I took a good look at the coins before I passed them off to the dealer who paid me and the wife 1800 for a total of 3600 for our 2 .the coin looks like something that the Franklin Mint would sell really poor in my eyes. on a side note the DC office still had extras after the line was completed so that means demand it the DC office was less than 500 people total!!
<< <i>I took a good look at the coins before I passed them off to the dealer who paid me and the wife 1800 for a total of 3600 for our 2 .the coin looks like something that the Franklin Mint would sell really poor in my eyes. on a side note the DC office still had extras after the line was completed so that means demand it the DC office was less than 500 people total!! >>
left money on the table ....my dealer friend was offering 2,100 per coin with receipt... pays to shop around
<< <i>I took a good look at the coins before I passed them off to the dealer who paid me and the wife 1800 for a total of 3600 for our 2 .the coin looks like something that the Franklin Mint would sell really poor in my eyes. on a side note the DC office still had extras after the line was completed so that means demand it the DC office was less than 500 people total!! >>
What time was the line completed? Thanks for the info!
Couldn't really post much detail from my phone earlier, but we (my sister and I) got in line at the ANA around 6am. We ended up being around 25 people back from the end of the 500 who got the coin today. Bummer. Even bigger bummer that we're certain at least that amount jumped in line ahead of us after we arrived but nothing really could be done as there was little enforcement of the line. The big groups being paid by certain dealers set up near the Mint sales booth had many people coming and going from the line. None had badges when they got in line, but were given passes later in the morning by those dealers. They were certainly NOT pre-registered as was to be the requirement, but most likely registered to the dealer tables and/or those dealers just worked out a deal with the ANA to get their buyers the badges. Either way, the ANA placing all the blame for the craziness on the Mint is not entirely fair as they had control over their badges and how and when they were to be distributed. Also, some of the people being paid to wait in line were scary. We had an ex-con behind us who seemed nice, but talked quite a bit about her drug crimes and time behind bars. A group in front of us started smoking pot right in line. Others from their group took turns going into the woods alongside the convention center. Maybe 10-20% of those who got coins today were coin collectors. And I'm probably overestimating. I have no problem with dealers getting coins for themselves for resale or having their helpers there. But when entire yoga studios are hired, when the Romeoville band shows up to get in line, when folks are hired off of Task Rabbit, it really takes away from the spirit of the 1 per person rule. Makes all dealers look bad in my opinion. And if the coins they got from the paid mercenaries were not enough, those same dealers hounded every other collector at the Mint point of sale to sell the coins to them for $2500, then $3000 and then more... and then when I left the show at around 3pm this afternoon, it already appeared that there were 10-15 folks in camping/beach chairs waiting in line for Wednesday's coins!!! Whatever... I don't think I'm playing anymore
the coin looks like something that the Franklin Mint would sell really poor in my eyes That's most disappointing to hear after all the hype and hoopla. Sounds like the Mint got lazy, since this was an easy Mint sale to the coin/Kennedy adoring public.
<< <i>I took a good look at the coins before I passed them off to the dealer who paid me and the wife 1800 for a total of 3600 for our 2 .the coin looks like something that the Franklin Mint would sell really poor in my eyes. on a side note the DC office still had extras after the line was completed so that means demand it the DC office was less than 500 people total!! >>
left money on the table ....my dealer friend was offering 2,100 per coin with receipt... pays to shop around >>
Why be greedy? No reason for me to look harder 500.00 for 6 hours of standing! I will do that ANY day of the week!
Don't feel bad the DC line had a pot smoker to. Its decriminalized in DC now. I also seen close to 15 street walkers and a few herion addicts or some other opiod use. Some I feel bad for 50.00 bucks to wait in that line! Not me for that kind of money. I have a few good pictures of the winners working for 50.00 and the dealer who waspaying them. I ddon't have an account to post pics but if someone wants to post them for me PM me with your email and I will send you them.
<< <i>Does anyone know what dealers hired the yoga studio and marching band. Maybe a boycott is in order for shady dealers? >>
These shenanigans make me sick, but they're not really shady. Dealers are just taking advantage of the situation, which any good businessman or woman would do.
Anyone who hires a marching band to stand in line for $200 is a cheat in my book. That is just ridiculous. How many actual coin collectors on this board alone stood in line today to be turned away because some dealer lined up a bus full of kids to make a ton of money.
And I was feeling bad about buying 5 online and flipping 2! Jeez!
Much worse in Philadelphia. You had to be there. You can read about it too on philly.com - someone posted a link earlier Two dealers (buying parties) employing wrist bands and the other hand stamps apparently received two thirds of the 500 coins. Tickets apparently handed out 1/3 wrist bands, 1/3 hand stamps, 1/3 just plain old collectors. Also they had reps stand by the registers to pay for their people as they received their coins. How does the US Mint put up with this?
<< <i>Anyone who hires a marching band to stand in line for $200 is a cheat in my book. That is just ridiculous. How many actual coin collectors on this board alone stood in line today to be turned away because some dealer lined up a bus full of kids to make a ton of money.
And I was feeling bad about buying 5 online and flipping 2! Jeez! >>
200.00? HA they made out well. Some were doing it for 50.00 my friend! !
See below posted to another site by another collector at Philadelphia today -
Was at the Philadelphia mint, it was a circus – absolutely horrible planning on the US mints part. There were probably 2k, maybe 2500 people. The mint made us line up across the street from the mint building. Then there were two “free-for-all’s” people became spooked and ran like cattle to the doors, on both of these occasions, the mint guards pushed the crowd off mint property and back on the side walk (on the opposite side of the street). Finally the mint announced that the crowd could make their way to the entrance for tickets. They tols the crowd to act “orderly,” but it was a virtual stampede, it was awful, some people slept out and did not get a ticket. It was NOT first come first serve, it was a stampede upon the announcement, I did not see any off the crowd get injured, but I am sure there may have been injuries.
And get this, there were two “big” buyers at the mint, I do not know who they were, but they both hired HUNDREDS, and I do mean HUNDREDS of people to stand in line to purchase the coins. I talked to many who were hired most were college students, but there was also a fair number of unemployed people. 80% or more of the crowd was from the Philly area. So there were basically three groups of people at the event, the two groups hired by the “big” buyers, and a group of “independents,” as I and others who were buying the coins for ourselves were referred. Anyway, the two big buyers branded their people with either a green bracelet OR a stamp. When the three groups slowly arrived at the entrance to get our tickets, the mint equally divided the tickets – 1 green bracelet/ 1 stamped hand/ 1 independent. Thus the big buyers were able to purchase TWO THIRDS of the Kennedy coins, the true numismatist were ONLY able to get ONE THIRD of the available coins. IT was very VERY unfair, and there were many MANY disappointed people. After we received the tickets, which was completed between 8 and 8:30 am, we had to wait until noontime for the actual purchase. We were again grouped into green bracelets/ stamp hands/ independents, and the two big guy groups were allowed to the front of the line. Well several guys begin yelling out that the Mint was favoring the big guys, and others chimed in, then the Mint opened 2 separate lines just for independents. The lines moved very slow, we were all literally standing arm to arm, and we were all sweating, it STUNK. The mint only allowed 10 people to enter the building at a time, and as we entered we had to go through a metal detector to insure we did not have a gun. Anyway, this is the way it was at the Philly mint.
I did get a ticket, as did two of the people that I traveled to Philly with, but it was an awful ordeal. Having said that the coins are SPECTACULAR, BEAUTIFUL! They are definitely worth the purchasing!
<< Does anyone know what dealers hired the yoga studio and marching band. Maybe a boycott is in order for shady dealers? >>
I'm not a buyer, but this is really no different than having family order when there are household limits imposed by the mint.
"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
Another great devide building in our society. The less fortunate being paid to get a quota of Gold to be sold to the rich. Shyster Coin Dealers working with the US Mint to reap the profits.
Its a frenzied selling scheme that seems to be working. Looks like it will continue. Just wait until that High Relief Project takes form.
I just had dinner with a collector friend who spent most of today in line. According to him he got in line around 4:30am, just a few minutes before a bus pulled up to the line and deposited a few dozen people. He was finally finished around 4pm. When I saw him around 4pm he had that dazed and tired face of someone you saw on the news of someone who just survived a natural disaster.. The hardest parts according to him was the lack of access to food and water for many hours. Also reported was some tension and lack of organization. Also he witnessed one large group being escorted out of the building by police when they were repeatedly saving places and cuts for friends and family.
The ultimate factor in softening the aggravation for him was how he immediately resold the coin for nearly 3x his cost.
Follow me on Twitter @wtcgroup Authorized dealer for PCGS, PCGS Currency, NGC, NCS, PMG, CAC. Member of the PNG, ANA. Member dealer of CoinPlex and CCE/FACTS as "CH5"
<< <i>I took a good look at the coins before I passed them off to the dealer who paid me and the wife 1800 for a total of 3600 for our 2 .the coin looks like something that the Franklin Mint would sell really poor in my eyes. on a side note the DC office still had extras after the line was completed so that means demand it the DC office was less than 500 people total!! >>
left money on the table ....my dealer friend was offering 2,100 per coin with receipt... pays to shop around >>
Why be greedy? No reason for me to look harder 500.00 for 6 hours of standing! I will do that ANY day of the week!
read my last post from another collector at Philadelphia today.....I observed the same happening.
its just a blatant disregard for rules. why the US Mint officials that were there didn't step in to stop this nonsense is beyond me. >>
Is there a rule that says an individual cannot buy for someone else? If so then there was in fact a blatent disregard for the rules. I suspect there was no such rule for the mint to enforce at the scene.
"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 don't get it. I've been reading about dealers at the ANA show paying 2000+ for these coins, but sales on ebay are lackluster, even (pre)sales of ANA labeled coins. Raw coin sales are almost non-existent. I know ebay is not the end-all, but it does give a rough idea of value?? I mean, I know these dealers are buying with the intent to make a profit, but at 2k+ (& grading fees). . . who's gonna buy the coins from them? & at what price?
<< <i>I took a good look at the coins before I passed them off to the dealer who paid me and the wife 1800 for a total of 3600 for our 2 .the coin looks like something that the Franklin Mint would sell really poor in my eyes. on a side note the DC office still had extras after the line was completed so that means demand it the DC office was less than 500 people total!! >>
left money on the table ....my dealer friend was offering 2,100 per coin with receipt... pays to shop around >>
Why be greedy? No reason for me to look harder 500.00 for 6 hours of standing! I will do that ANY day of the week!
Line was done by 3:45ish >>
So did you save me one or i'm i out just asking? >>
It is currently 8:59pm CDT on 8/5/14. I'm across the street from the convention center typing this on my phone and believe it or not there is already a line forming. There are even more people across the street with their overnight gear at the ready, ready to jump back in line.
You'd think this was the box office line for a Beatles reunion concert or for the new iPhone. Never would I ever expect to see this for any U.S. Mint product.
Follow me on Twitter @wtcgroup Authorized dealer for PCGS, PCGS Currency, NGC, NCS, PMG, CAC. Member of the PNG, ANA. Member dealer of CoinPlex and CCE/FACTS as "CH5"
<< <i>I just had dinner with a collector friend who spent most of today in line. According to him he got in line around 4:30m, just a few minutes before a bus pulled up to the line and deposited a few dozen people. He was finally finished around 4pm. When I saw him around 4pm he had that dazed and tired face of someone you saw on the news of someone who just survived a natural disaster.. The hardest parts according to him was the lack of access to food and water for many hours. Also reported was some tension and lack of organization. Also he witnessed one large group being escorted out of the building by police when they were repeatedly saving places and cuts for friends and family.
The ultimate factor in softening the aggravation for him was how he immediately resold the coin for nearly 3x his cost. >>
Wonder why hd didn't bring some food bars and drinks.
"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 just had dinner with a collector friend who spent most of today in line. According to him he got in line around 4:30m, just a few minutes before a bus pulled up to the line and deposited a few dozen people. He was finally finished around 4pm. When I saw him around 4pm he had that dazed and tired face of someone you saw on the news of someone who just survived a natural disaster.. The hardest parts according to him was the lack of access to food and water for many hours. Also reported was some tension and lack of organization. Also he witnessed one large group being escorted out of the building by police when they were repeatedly saving places and cuts for friends and family.
The ultimate factor in softening the aggravation for him was how he immediately resold the coin for nearly 3x his cost. >>
Wonder why hd didn't bring some food bars and drinks. >>
He said his original plan was to stop by that McDonalds on the corner of Mannheim and River Rd but if he did he would've got there after that bus load and would have risked missing the cut. Also by bringing liquids he would've risked the need to use the restroom, and unlike others in line he wasn't wearing the proper gear.
He said he did get a half slice of pizza from a good samaritan in line but he agrees a few energy bars would've helped.
Follow me on Twitter @wtcgroup Authorized dealer for PCGS, PCGS Currency, NGC, NCS, PMG, CAC. Member of the PNG, ANA. Member dealer of CoinPlex and CCE/FACTS as "CH5"
If I had purchased a gold Kennedy coin or two at the ANA and had been able to immediately flip them to a speculator for a 500-1000 dollar profit, I would have sold them so quick your head woulda spun. I would have then sought out something like a rare gem+ VEDS doubled die coin, or a real nice high grade gem+ fully struck Jeff nickel, and put it away for the next 20 years or so. Viola, a free coin destined to just increase in value at no cost other than a little time and effort?...anyday. So many of the coins that I bought back in the mid 1990's have gone up 10x to 15x. They were all very high grade and fully struck finest known (or tied for finest known) Certified tough date rare coins. You just cannot beat the combination of rarity and beauty over time. Later on they are still that old gem that is fun to enjoy, or , they become that missed opportunity which has become way too expensive to own without mortgaging your home.
after reading all the news items and seeing the demand and prices paid, I am sure of only one thing. The TPGs will make money on this. Those standing at the head of the line for a fee will make money. Everyone else, not so sure.
When you sell an item to a person you expect them to pay for it When someone is buying through a proxy and right in front of you hands thier Credit card to pay for it...then takes the item from the proxy in plain view as they exit Is not in accordance or in the spirit of a one per person policy
<< <i>after reading all the news items and seeing the demand and prices paid, I am sure of only one thing. The TPGs will make money on this. Those standing at the head of the line for a fee will make money. Everyone else, not so sure. >>
The real winners are the people who immediately resold their coin for a handsome profit.
This deal is not the ultimate barn burner for the TPG's. At the absolute most only 500 coins in a single day could be submitted to all TPG's combined and only one company is issuing the first day edition label (or whatever it's called). That August 5, 2014 first day label is the true desired designation and where the money is at.
Follow me on Twitter @wtcgroup Authorized dealer for PCGS, PCGS Currency, NGC, NCS, PMG, CAC. Member of the PNG, ANA. Member dealer of CoinPlex and CCE/FACTS as "CH5"
Comments
<< <i>I thought there was 40,000 ready to go and ship ASAP after credit card checking, etc. Guess not. >>
If you believe the mints statement of 40k ready to go, then there is no reason as of now to be concerned. All orders have to be verified as being compliant with the house hold limit and have a valid credit card. This takes time. Especially with the rush of orders today. Take a breath. You didn't really expect your order to go out the door this afternoon right?
Subtract the 2,500 at ANA, the 2,500 at the mint outlets ( DC, Philly & Denver = 7,500) that leaves 30K for on line and phone orders. Thursday or Friday a lot should be sorted out. The pre-struck 30,000 should start shipping within a week or so....just like the 2 coin clad sets.
First Strike date will start with first shipment so if you got your order in before the 30K were sold your golden (see what i did there
I don't think anyone expects their order to be shipped this afternoon.
There is something wrong with the mint.
It's inability to predict order quantities for a given product and then, to post that your ship date may be 35 - 40 days later after you order when the product is first presented for sale is inexcusable.
All the while, the labeled ANA / Mint direct sales coins go crazy.
But as to this gold Kennedy shipments should start next week just like the clad sets shipped a week after orders started being taken.
<< <i>40,000 is way too many coins for this issue, not to mention the rest they are selling. >>
Depends how high the final number goes. One unknown is International appeal and demand.
We all know its about demand on these "higher mintage" coins. UHR is a perfect example.
PCGS Certifies First Six Gold Proof Kennedy Half Dollars
4 = 70, 2 = 69
Speaks for the quality of the product
<< <i>I decided to pass on these. I'd rather get some silver sets, with the RP. >>
same
If so what time did you get in line?
I give away money. I collect money.
I don’t love money . I do love the Lord God.
<< <i>Coin Update Post
PCGS Certifies First Six Gold Proof Kennedy Half Dollars
4 = 70, 2 = 69
Speaks for the quality of the product >>
Why does the Chicago sticker say "John F. Kennedy 50th Anniversary" and not mention the half dollar?
(l8-)>>
<< <i>I took a good look at the coins before I passed them off to the dealer who paid me and the wife 1800 for a total of 3600 for our 2 .the coin looks like something that the Franklin Mint would sell really poor in my eyes. on a side note the DC office still had extras after the line was completed so that means demand it the DC office was less than 500 people total!! >>
left money on the table ....my dealer friend was offering 2,100 per coin with receipt... pays to shop around
<< <i>I took a good look at the coins before I passed them off to the dealer who paid me and the wife 1800 for a total of 3600 for our 2 .the coin looks like something that the Franklin Mint would sell really poor in my eyes. on a side note the DC office still had extras after the line was completed so that means demand it the DC office was less than 500 people total!! >>
What time was the line completed? Thanks for the info!
<< <i>
<< <i>Coin Update Post
PCGS Certifies First Six Gold Proof Kennedy Half Dollars
4 = 70, 2 = 69
Speaks for the quality of the product >>
Why does the Chicago sticker say "John F. Kennedy 50th Anniversary" and not mention the half dollar? >>
It's on reverse, no?
Michael Kittle Rare Coins --- 1908-S Indian Head Cent Grading Set --- No. 1 1909 Mint Set --- Kittlecoins on Facebook --- Long Beach Table 448
That's most disappointing to hear after all the hype and hoopla.
Sounds like the Mint got lazy, since this was an easy Mint sale to the coin/Kennedy adoring public.
<< <i>
<< <i>I took a good look at the coins before I passed them off to the dealer who paid me and the wife 1800 for a total of 3600 for our 2 .the coin looks like something that the Franklin Mint would sell really poor in my eyes. on a side note the DC office still had extras after the line was completed so that means demand it the DC office was less than 500 people total!! >>
left money on the table ....my dealer friend was offering 2,100 per coin with receipt... pays to shop around >>
Why be greedy? No reason for me to look harder 500.00 for 6 hours of standing! I will do that ANY day of the week!
Line was done by 3:45ish
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<< <i>Does anyone know what dealers hired the yoga studio and marching band. Maybe a boycott is in order for shady dealers? >>
These shenanigans make me sick, but they're not really shady. Dealers are just taking advantage of the situation, which any good businessman or woman would do.
And I was feeling bad about buying 5 online and flipping 2! Jeez!
Overdate, BestMR, Weather11AM, TDEC1000, Carew4me, BigMarty58, Coinsarefun, Golfer72, UnknownComic, DMarks, JFoot13, ElKevvo, Truthteller, Duxbutt, TwoSides2aCoin, PerryHall, mhammerman, Papabear, Wingsrule, WTCG, MillerJW, Ciccio, zrlevin, dantheman984, tee135, jdimmick, gsa1fan, jmski52, SUMORADA, guitarwes, bstat1020, pitboss, meltdown, Schmitz7, 30AnvZ28, pragmaticgoat, wondercoin & MkMan123
You can read about it too on philly.com - someone posted a link earlier
Two dealers (buying parties) employing wrist bands and the other hand stamps apparently received two thirds of the 500 coins. Tickets apparently handed out 1/3 wrist bands, 1/3 hand stamps, 1/3 just plain old collectors.
Also they had reps stand by the registers to pay for their people as they received their coins.
How does the US Mint put up with this?
<< <i>Anyone who hires a marching band to stand in line for $200 is a cheat in my book. That is just ridiculous. How many actual coin collectors on this board alone stood in line today to be turned away because some dealer lined up a bus full of kids to make a ton of money.
And I was feeling bad about buying 5 online and flipping 2! Jeez! >>
200.00? HA they made out well. Some were doing it for 50.00 my friend! !
Was at the Philadelphia mint, it was a circus – absolutely horrible planning on the US mints part. There were probably 2k, maybe 2500 people. The mint made us line up across the street from the mint building. Then there were two “free-for-all’s” people became spooked and ran like cattle to the doors, on both of these occasions, the mint guards pushed the crowd off mint property and back on the side walk (on the opposite side of the street). Finally the mint announced that the crowd could make their way to the entrance for tickets. They tols the crowd to act “orderly,” but it was a virtual stampede, it was awful, some people slept out and did not get a ticket. It was NOT first come first serve, it was a stampede upon the announcement, I did not see any off the crowd get injured, but I am sure there may have been injuries.
And get this, there were two “big” buyers at the mint, I do not know who they were, but they both hired HUNDREDS, and I do mean HUNDREDS of people to stand in line to purchase the coins. I talked to many who were hired most were college students, but there was also a fair number of unemployed people. 80% or more of the crowd was from the Philly area. So there were basically three groups of people at the event, the two groups hired by the “big” buyers, and a group of “independents,” as I and others who were buying the coins for ourselves were referred. Anyway, the two big buyers branded their people with either a green bracelet OR a stamp. When the three groups slowly arrived at the entrance to get our tickets, the mint equally divided the tickets – 1 green bracelet/ 1 stamped hand/ 1 independent. Thus the big buyers were able to purchase TWO THIRDS of the Kennedy coins, the true numismatist were ONLY able to get ONE THIRD of the available coins. IT was very VERY unfair, and there were many MANY disappointed people. After we received the tickets, which was completed between 8 and 8:30 am, we had to wait until noontime for the actual purchase. We were again grouped into green bracelets/ stamp hands/ independents, and the two big guy groups were allowed to the front of the line. Well several guys begin yelling out that the Mint was favoring the big guys, and others chimed in, then the Mint opened 2 separate lines just for independents. The lines moved very slow, we were all literally standing arm to arm, and we were all sweating, it STUNK. The mint only allowed 10 people to enter the building at a time, and as we entered we had to go through a metal detector to insure we did not have a gun. Anyway, this is the way it was at the Philly mint.
I did get a ticket, as did two of the people that I traveled to Philly with, but it was an awful ordeal. Having said that the coins are SPECTACULAR, BEAUTIFUL! They are definitely worth the purchasing!
I'm not a buyer, but this is really no different than having family order when there are household limits imposed by the mint.
"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
read my last post from another collector at Philadelphia today.....I observed the same happening.
its just a blatant disregard for rules. why the US Mint officials that were there didn't step in to stop this nonsense is beyond me.
All this madness is the result of greed, nothing less.
JMHO as always.
I can not believe the pictures I saw and the stories I've read.
A lot to process and not sure what to think of it. Weird is one word that comes to mind.
"If I say something in the woods and my wife isn't there to hear it.....am I still wrong?"
My Washington Quarter Registry set...in progress
rich. Shyster Coin Dealers working with the US Mint to reap the profits.
Its a frenzied selling scheme that seems to be working. Looks like it will continue. Just wait until that High Relief
Project takes form.
The ultimate factor in softening the aggravation for him was how he immediately resold the coin for nearly 3x his cost.
Authorized dealer for PCGS, PCGS Currency, NGC, NCS, PMG, CAC. Member of the PNG, ANA. Member dealer of CoinPlex and CCE/FACTS as "CH5"
<< <i>
<< <i>
<< <i>I took a good look at the coins before I passed them off to the dealer who paid me and the wife 1800 for a total of 3600 for our 2 .the coin looks like something that the Franklin Mint would sell really poor in my eyes. on a side note the DC office still had extras after the line was completed so that means demand it the DC office was less than 500 people total!! >>
left money on the table ....my dealer friend was offering 2,100 per coin with receipt... pays to shop around >>
Why be greedy? No reason for me to look harder 500.00 for 6 hours of standing! I will do that ANY day of the week!
Line was done by 3:45ish >>
So did you save me one or i'm i out just asking?
Hoard the keys.
<< <i>Derry
read my last post from another collector at Philadelphia today.....I observed the same happening.
its just a blatant disregard for rules. why the US Mint officials that were there didn't step in to stop this nonsense is beyond me. >>
Is there a rule that says an individual cannot buy for someone else? If so then there was in fact a blatent disregard for the rules. I suspect there was no such rule for the mint to enforce at the scene.
"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 mean, I know these dealers are buying with the intent to make a profit, but at 2k+ (& grading fees). . . who's gonna buy the coins from them? & at what price?
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<< <i>I took a good look at the coins before I passed them off to the dealer who paid me and the wife 1800 for a total of 3600 for our 2 .the coin looks like something that the Franklin Mint would sell really poor in my eyes. on a side note the DC office still had extras after the line was completed so that means demand it the DC office was less than 500 people total!! >>
left money on the table ....my dealer friend was offering 2,100 per coin with receipt... pays to shop around >>
Why be greedy? No reason for me to look harder 500.00 for 6 hours of standing! I will do that ANY day of the week!
Line was done by 3:45ish >>
So did you save me one or i'm i out just asking?
PM sent...
You'd think this was the box office line for a Beatles reunion concert or for the new iPhone. Never would I ever expect to see this for any U.S. Mint product.
Authorized dealer for PCGS, PCGS Currency, NGC, NCS, PMG, CAC. Member of the PNG, ANA. Member dealer of CoinPlex and CCE/FACTS as "CH5"
It was a one per person limit
Common sense should apply
<< <i>I just had dinner with a collector friend who spent most of today in line. According to him he got in line around 4:30m, just a few minutes before a bus pulled up to the line and deposited a few dozen people. He was finally finished around 4pm. When I saw him around 4pm he had that dazed and tired face of someone you saw on the news of someone who just survived a natural disaster.. The hardest parts according to him was the lack of access to food and water for many hours. Also reported was some tension and lack of organization. Also he witnessed one large group being escorted out of the building by police when they were repeatedly saving places and cuts for friends and family.
The ultimate factor in softening the aggravation for him was how he immediately resold the coin for nearly 3x his cost. >>
Wonder why hd didn't bring some food bars and drinks.
<< <i>Derry
It was a one per person limit
Common sense should apply >>
Did they sell more than one to a single person? Maybe the "pigs at the trough" will regret paying too much.
Aftermarket prices already falling?
"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
Hoard the keys.
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<< <i>I just had dinner with a collector friend who spent most of today in line. According to him he got in line around 4:30m, just a few minutes before a bus pulled up to the line and deposited a few dozen people. He was finally finished around 4pm. When I saw him around 4pm he had that dazed and tired face of someone you saw on the news of someone who just survived a natural disaster.. The hardest parts according to him was the lack of access to food and water for many hours. Also reported was some tension and lack of organization. Also he witnessed one large group being escorted out of the building by police when they were repeatedly saving places and cuts for friends and family.
The ultimate factor in softening the aggravation for him was how he immediately resold the coin for nearly 3x his cost. >>
Wonder why hd didn't bring some food bars and drinks. >>
He said his original plan was to stop by that McDonalds on the corner of Mannheim and River Rd but if he did he would've got there after that bus load and would have risked missing the cut. Also by bringing liquids he would've risked the need to use the restroom, and unlike others in line he wasn't wearing the proper gear.
He said he did get a half slice of pizza from a good samaritan in line but he agrees a few energy bars would've helped.
Authorized dealer for PCGS, PCGS Currency, NGC, NCS, PMG, CAC. Member of the PNG, ANA. Member dealer of CoinPlex and CCE/FACTS as "CH5"
When someone is buying through a proxy and right in front of you hands thier
Credit card to pay for it...then takes the item from the proxy in plain view as they exit
Is not in accordance or in the spirit of a one per person policy
<< <i>after reading all the news items and seeing the demand and prices paid, I am sure of only one thing. The TPGs will make money on this. Those standing at the head of the line for a fee will make money. Everyone else, not so sure. >>
The real winners are the people who immediately resold their coin for a handsome profit.
This deal is not the ultimate barn burner for the TPG's. At the absolute most only 500 coins in a single day could be submitted to all TPG's combined and only one company is issuing the first day edition label (or whatever it's called). That August 5, 2014 first day label is the true desired designation and where the money is at.
Authorized dealer for PCGS, PCGS Currency, NGC, NCS, PMG, CAC. Member of the PNG, ANA. Member dealer of CoinPlex and CCE/FACTS as "CH5"
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<< <i>Derry
It was a one per person limit
Common sense should apply >>
Did they sell more than one to a single person? Maybe the "pigs at the trough" will regret paying too much.
Aftermarket prices already falling? >>
If the buyer could somehow contact the seller and arrange an exchange in Chicago, that might have sold ...
People aren't standing in line for a U.S. mint product (referencing an earlier post). They're standing in line for $1,500 to $2,000 free money.