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

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  • bumanchubumanchu Posts: 1,383 ✭✭✭


    << <i>

    << <i>I don't think the goverment can do a lottery can they? We shall see but I do see a major uproar if they try to do a lottery. >>



    We can remind them of the Military Draft lottery they put me through in the 60's >>



    Touché
    And I ain't lying this time.
  • BStrauss3BStrauss3 Posts: 3,408 ✭✭✭✭✭


    << <i>We can remind them of the Military Draft lottery they put me through in the 60's >>



    Legally that wasn't a lottery, it was missing at least ONE leg (maybe TWO) of the triple:

    Chance
    Consideration
    Prize

    (you didn't pay to enter, and I'm not real sure what the prize was)
    -----Burton
    ANA 50 year/Life Member (now "Emeritus")
  • pitbosspitboss Posts: 8,643 ✭✭✭
    The prize was going to Vietnam!
  • MsMorrisineMsMorrisine Posts: 33,019 ✭✭✭✭✭
    is that why they called it a tour?


    I think the prize is for the ones not drawn.


    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • shorecollshorecoll Posts: 5,445 ✭✭✭✭✭
    At most trade shows I attend, an extra dealer badge is $500-800...that would either stop some of the gaming or reimburse show promoters for the extra costs.

    The non-lottery lottery could be online prior to the show and you could redeem your winning ticket at the show.
    ANA-LM, NBS, EAC
  • MsMorrisineMsMorrisine Posts: 33,019 ✭✭✭✭✭
    Pcgs ANA 70 first strike true auction $2465

    Another $2429

    Another $2425

    ===============

    On 16th


    True auction $2950

    & 15th @ $2805

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • MsMorrisineMsMorrisine Posts: 33,019 ✭✭✭✭✭
    The first true auction on ebay went off at $4076

    The second @ $3951

    The third @ $3451


    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • MsMorrisineMsMorrisine Posts: 33,019 ✭✭✭✭✭


    << <i>At most trade shows I attend, an extra dealer badge is $500-800...that would either stop some of the gaming or reimburse show promoters for the extra costs.

    The non-lottery lottery could be online prior to the show and you could redeem your winning ticket at the show. >>





    If their new system could handle it, they could sell online/phone only with a later show delivery option.


    They would only need ID to verify and use the ID number as proof of delivery at the show.



    This way those online could get them at home about the time of the show.

    Then they could also do show sales.

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • epcjimi1epcjimi1 Posts: 3,489 ✭✭✭


    << <i>The first true auction on ebay went off at $4076

    The second @ $3951

    The third @ $3451 >>



    What listings?, links?, I just looked briefly on ebay, I don't see anything like your descriptions so I'm probably doing it wrong.

    S'il vous plait, merci.
  • coinguy1989coinguy1989 Posts: 1,056 ✭✭
    There is still plenty of room to fall. I hope the dealers that paid people to act as their buying agents are hit hard; I would love to see these dip below issue price.
  • coinguy1989coinguy1989 Posts: 1,056 ✭✭


    << <i>

    << <i>At most trade shows I attend, an extra dealer badge is $500-800...that would either stop some of the gaming or reimburse show promoters for the extra costs.

    The non-lottery lottery could be online prior to the show and you could redeem your winning ticket at the show. >>





    If their new system could handle it, they could sell online/phone only with a later show delivery option.


    They would only need ID to verify and use the ID number as proof of delivery at the show.



    This way those online could get them at home about the time of the show.

    Then they could also do show sales. >>



    This sounds good to me.
  • BigABigA Posts: 2,715 ✭✭✭✭
    8/22...FS PF70 ANA Chicago $2171.25
  • MsMorrisineMsMorrisine Posts: 33,019 ✭✭✭✭✭
    Recent non-ANA non-Chicago FS Kennedy label. $1602.50 on 8/23


    First $1611 on 8/22



    Lots of NGC out there with ER

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • pitbosspitboss Posts: 8,643 ✭✭✭
    It cost more than that to go to the show, stay overnight, wait for them to open, wait in line and if you were lucky enough to get one then the cost of grading is involved.

    What a joke except it is not very funny.
  • MsMorrisineMsMorrisine Posts: 33,019 ✭✭✭✭✭


    << <i>The first true auction on ebay went off at $4076 link

    The second @ $3951 link

    The third @ $3451 link

    >>

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • MsMorrisineMsMorrisine Posts: 33,019 ✭✭✭✭✭


    << <i>It cost more than that to go to the show, stay overnight, wait for them to open, wait in line and if you were lucky enough to get one then the cost of grading is involved.

    What a joke except it is not very funny. >>




    Those are the non-show labels that are in the low $1600's

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • pitbosspitboss Posts: 8,643 ✭✭✭
    OK, non show labels at $1600 is not a very good deal either by the time you get them graded and feel good about a 70. You go to sell it and break even is not much fun.

    At the show you would have been better off selling them there ungraded.

    This has not been a fun flip no matter what at this point.
  • morgansforevermorgansforever Posts: 8,461 ✭✭✭✭✭
    Mine is finally in stock and reserved, yessssssss! Don't care about special limited inserts or flipping, staying in the OGP, bought and paid for.
    World coins FSHO Hundreds of successful BST transactions U.S. coins FSHO
  • Got my box of 5 on Tuesday and finally had a chance to open it over weekend. 3 of 5 going back - brush lines on one, back mark on another and 3rd had some what looked like some water marks/residues. The remaining 2 going to PCGS. Will Se if I can luck one 70 out of 5- the waiting begins.
  • MsMorrisineMsMorrisine Posts: 33,019 ✭✭✭✭✭
    Were the "water spots" on the reverse?


    Black mark? Or black spot? Did you try opening the capsule to dust it off?

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • TwoSides2aCoinTwoSides2aCoin Posts: 44,286 ✭✭✭✭✭
    1068


    I predict the price of gold per ounce will be lower than the total of posts to this thread before mid-September.


    And I will guess $1277. as the price of gold with 1308 posts by then…. and maybe the sky will fall, but I doubt it.
  • KudbegudKudbegud Posts: 4,735 ✭✭✭✭✭
    You might consider a camera dust blower like THIS to puff away dust. Your breath has water vapor that will condense on the coin. Any physical thing that touche the coin, like a fine brush or tissue, could leave hairline marks. This puffer uses one way valves that let in fresh air and when you squeeze the one way output valve gives high speed air through the nozzle for pin point direction of the air stream. Canned air will come out cold and cause condensation which you don't want.

    Another tool in your collecting kit. Like a loop, hand lens, cotton gloves, finger cots and a small flash light.

  • BigABigA Posts: 2,715 ✭✭✭✭


    << <i>Lots of NGC out there with ER >>



    Since there were 40k minted and most likely eligible for FS and ER I would expect there to be a lot of BOTH companies out there eventually. NGC just returned them to the customers faster.
  • Were the "water spots" on the reverse?
    Yes they were on reverse. Plus something that looked like blueish solvent residue next to one of the letters. And yes I did open the capsules and examine the coins under 30x loupe so these were not really visible without magnification.
  • 7over87over8 Posts: 4,733 ✭✭✭
    Typical gloom and doom on the forum....
    First, the special labels would not hold the 5,000 level, I would expect the
    2,000-2,400 level will hold.
    Second, there will be a rush to sell any FS / ER coins, less FS due to the
    Tight FS deadline 10 days earlier than NGC
    Third, these proof gold coins will never be had for spot. Put down the pipe
    and breath some fresh air. Proof gold of popular issues always sells for a couple
    hundred over spot per oz.
  • dmarksdmarks Posts: 450 ✭✭
    I think the gloom and doomers are out in full force and loving it. This coin is obviously different as the initial supply was high. I think the coin is good looking and I expect there to be a rebound as soon as everyone who was trying to flip on their credit card blows them out. Of course, I could be wrong
  • pitbosspitboss Posts: 8,643 ✭✭✭
    Call it gloom and doom if you want but these coins are a DUD! If you like them then owning one for your collection is great but do expect them to drop to near issue price or lower soon as credit cards become due. Inspect them when you get them and send culls back to the mint as 69's and lower are junk coins.
  • bestdaybestday Posts: 4,239 ✭✭✭✭


    << <i>I think the gloom and doomers are out in full force and loving it. This coin is obviously different as the initial supply was high. I think the coin is good looking and I expect there to be a rebound as soon as everyone who was trying to flip on their credit card blows them out. Of course, I could be wrong >>



    doubt you will ever see the gold kennedy at spot.. if the mintage stays at 75,000, the coin will be a hot winner.... buy at lower levels
  • 7Jaguars7Jaguars Posts: 7,444 ✭✭✭✭✭
    Wonder what the latest sales number is and how many sold the last calendar week?
    Love that Milled British (1830-1960)
    Well, just Love coins, period.
  • MsMorrisineMsMorrisine Posts: 33,019 ✭✭✭✭✭


    << <i>Were the "water spots" on the reverse?
    Yes they were on reverse. Plus something that looked like blueish solvent residue next to one of the letters. And yes I did open the capsules and examine the coins under 30x loupe so these were not really visible without magnification. >>





    One of mine also had those "water spots" on the reverse on the left side of the eagle in the fields

    The was a tiny "gun metal blue" streak on another on the obverse.


    Btw, pcgs graded both pr70dcam.

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • MsMorrisineMsMorrisine Posts: 33,019 ✭✭✭✭✭


    << <i>

    << <i>I think the gloom and doomers are out in full force and loving it. This coin is obviously different as the initial supply was high. I think the coin is good looking and I expect there to be a rebound as soon as everyone who was trying to flip on their credit card blows them out. Of course, I could be wrong >>



    doubt you will ever see the gold kennedy at spot.. if the mintage stays at 75,000, the coin will be a hot winner.... buy at lower levels >>




    I'm saying not as hot as the RP Buff because of the already low prices of the non-show graded First Strike 70's.

    We shall see.

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • MsMorrisineMsMorrisine Posts: 33,019 ✭✭✭✭✭


    << <i>

    << <i>I think the gloom and doomers are out in full force and loving it. This coin is obviously different as the initial supply was high. I think the coin is good looking and I expect there to be a rebound as soon as everyone who was trying to flip on their credit card blows them out. Of course, I could be wrong >>



    doubt you will ever see the gold kennedy at spot.. if the mintage stays at 75,000, the coin will be a hot winner.... buy at lower levels >>



    They won't hit spot on ebay as once they start hitting issue price, they will be sat upon with BINs

    I also would not recommend buying sealed boxes on these unless you have a plan to get rid of the "water spots" and "gun metal blue" streaks. Although if they get 70's, perhaps the less moralistic can still put them on ebay... however returns might be an issue.


    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • MsMorrisineMsMorrisine Posts: 33,019 ✭✭✭✭✭
    The first raw non-presales true auction after on sale date was $1375

    Recents $1375 and $1335.01

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions


  • << <i>The first raw non-presales true auction after on sale date was $1375

    Recents $1375 and $1335.01 >>




    So after fees they lost money! People amaze me. Better off putting a match to the money if you want to waste it. All that needs to take place is a SNAD or box was empty and seller looses even more.
  • pitbosspitboss Posts: 8,643 ✭✭✭
    You have 7 days only to send them back to the mint!
  • FullStrikeFullStrike Posts: 4,353 ✭✭✭
    The Silver !

    Forget the Gold Issue, it's A dogg.
  • bestdaybestday Posts: 4,239 ✭✭✭✭
    The poor quality of the gold kennedys makes it best to buy graded ones ..Again. no premium demand over issue price leads to lower prices
    Coin club members planning to buy a lot for keepers..only small chance ever goes to melt once flippers go away
    It is a one off issue, unless those few who will around for the 100th issue of a gold kennedy


  • << <i>The poor quality of the gold kennedys makes it best to buy graded ones ..Again. no premium demand over issue price leads to lower prices
    Coin club members planning to buy a lot for keepers..only small chance ever goes to melt once flippers go away
    It is a one off issue, unless those few who will around for the 100th issue of a gold kennedy >>



    Other members have stated that even graded coins that are 70s have issues. Just because it is graded does not mean you are safe from the mint quality control. As for the flippers it wont matter one bit except that they may loose some money which is already happing on completed ebay auctions. Take a look on the BST you have some people who have boxes of 5 X 4 for a total of 24,800.00 that they most likely will have to eat since they have not sold and the mint return period is most likely over. You can bump a thread all day long but if it don't sell that's a nice chuck of cash to lay out and if they are on a CC could be a massive amount of interest to pay if you don't have that money to pay it off. Most people do not have that type of cash to tie up in a modern over produced piece of junk. For the same money you could but a lot of other coins that have and hold value. I made money on the release in DC and I am glad I sold it on the spot to a dealer. If you look at the prices now he broke even after he paid me and all the fees at PCGS or NGC. These coins will never be like the UHR. Do yourself a favor. Pass the hot potato before you get stuck holding it. You can thank me later.
  • pitbosspitboss Posts: 8,643 ✭✭✭
    Forget trying to dump them, its too late.

    Cancel them if you can or return them to the mint when they arrive.

    Do not listen to those who say they will rebound or you will bet hit with a large credit card bill.

    By the time these rebound, if they do, you will be as old and gray as me.
  • bronco2078bronco2078 Posts: 10,213 ✭✭✭✭✭

    If there are nicked up or spotted coins getting graded there should be some lower than 69 , maybe even a details grade here and there


    What is the lowest grade seen so far?
  • 7over87over8 Posts: 4,733 ✭✭✭


    << <i>Call it gloom and doom if you want but these coins are a DUD! >>



    Doom and Gloom. Exactly what this is.

    With a HH maximum, once this glut moves through - and the weak pockets send them back - the coin will firm and rebound.

    In PR70 DCAM First Strike, this coin will be perfectly fine. I see it in the 1800 range easily. There are too many problem coins and too many people panicking and sending thier coins back.
  • This coin is the contrarians dream (in the long run). I do not remember an issue with such dislike. I just might have to hold on to one if I can get a good price.
  • pitbosspitboss Posts: 8,643 ✭✭✭
    That may be the case, and i hope you are right, but at 75 years old I do not believe it.

    There are way too many out there already that cant be returned to the mint to give anybody who wants one at a reasonable price the opportunity to get one way under $1800

    unless gold takes off.
  • Agree there is too much negativity surrounding the intro to buy many of these but one in OGP is probably a safe bet, it is still a good looking coin. The issues described on the forum about the debris in the PCGS slabs is troubling because I have purchased several slabbed coins with all kinds of fuzz, eyelashes, flakes, etc trapped inside and not only disgusting, but why would anyone else want it when/if you decide to sell it? NGC slabs do not seem to have nearly this much, maybe a spot or two of dust. I used to always prefer PCGS graded coins, but cannot believe there is not a cleaner system for slabbing.
  • derrybderryb Posts: 36,793 ✭✭✭✭✭


    << <i>You have 7 days only to send them back to the mint! >>


    and if you receive more than one, you can return less than your full order.

    "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

  • newnotesnewnotes Posts: 65 ✭✭
    Mine one was shipped today. Ordered at 4:44 P.M. day of issue. I'll open it and if I think it looks excellent I'll keep it. Nice having the option to send it right back. I sold my UHR on the "bay" the day I got it and have regretted it. Made a "few" bucks though.
  • like pitboos has stated. To many coins are in the hands on people who don't want them and cant afford them. They "were" trying to make a buck with a quick flip but that isn't happening and in the end it will cost them money as completed ebay auctions are already proving that correct. If it was limited to 25,000 coins you would have a winner but its not so all we have is a dud that is way overproduced and over priced. I dont feel bad for the people who ordered 5+ to flip and now have a CC that will go unpaid with interest adding up each day until paid. Some people will learn a lesson on this coin and others will not. Most collectors I know don't have 1300.00 to put into a modern gold trinket and would rather other coins. If things keep up I think people that have outstanding balances on the CC may drop the price and take a loss just to get something back on the CC. Don't be surprised if that does take place and you see a few at bullion price. I am glad I seen what was going on here and bailed. I also don't want to hear these will rebound some day. I am 31 now by the time that does happens my grandkids will be putting flowers on my grave.


    I think the silver set will be the money maker since most of the smaller buyers can afford to put out a 100.00 bucks or so and have a few coins.
  • BackroadJunkieBackroadJunkie Posts: 3,745 ✭✭✭✭✭
    Posted in another thread, but it probably should be posted in this one...

    Latest sales data from the mint:
    There was a net increase this week of -133 gold Kennedy's this week. (63,388 sold to date.)
    There was a net increase this week of 3,771 clad sets this week. (120,708 sold to date.)

    Unless gold rallies to $1325+ for the next two days, the price for the gold Kennedy looks to drop $37.50 this Wednesday.
  • pitbosspitboss Posts: 8,643 ✭✭✭


    << <i>like pitboos has stated. To many coins are in the hands on people who don't want them and cant afford them. They "were" trying to make a buck with a quick flip but that isn't happening and in the end it will cost them money as completed ebay auctions are already proving that correct. If it was limited to 25,000 coins you would have a winner but its not so all we have is a dud that is way overproduced and over priced. I dont feel bad for the people who ordered 5+ to flip and now have a CC that will go unpaid with interest adding up each day until paid. Some people will learn a lesson on this coin and others will not. Most collectors I know don't have 1300.00 to put into a modern gold trinket and would rather other coins. If things keep up I think people that have outstanding balances on the CC may drop the price and take a loss just to get something back on the CC. Don't be surprised if that does take place and you see a few at bullion price. I am glad I seen what was going on here and bailed. I also don't want to hear these will rebound some day. I am 31 now by the time that does happens my grandkids will be putting flowers on my grave.


    I think the silver set will be the money maker since most of the smaller buyers can afford to put out a 100.00 bucks or so and have a few coins. >>





    You are right on with your assessment of the gold coins. There are just tooooo many of them and the silver ones will be a winner.
  • Got mine today. Clads look hammered; the Philly Mint better tell their people to wash their hands ... a couple or three of the five had smudges, including a strange, faint red mark.

    Golds look good. Might send them in.

    Plus, the Mint answered an earlier email and said, "We are evaluating the launch of this product and how best to proceed with similar coin launches in the future."



    Let's try not to get upset.

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