This just in -- Only one Kennedy coin per customer at the World's Fair of Money

JakeSherlock · July 31, 2014 12:05AM

Just got this message from the U.S. Mint a few moments ago:

Note to Editors

Because of the expected overwhelming response, dialog with our customers and many others interested in the 50th Anniversary Kennedy Half-Dollar Gold Proof Coin, the United States Mint is reducing the over-the-counter purchase limit to one unit per customer.

This change in the purchase limit will give more members of the public an opportunity to purchase this popular coin, essentially doubling the number of customers able to purchase it. The number of units available at each retail location (Philadelphia and Denver facilities, Washington, D.C., headquarters and Chicago ANA World’s Fair of Money) will remain the same. There will be 500 units available initially at each United States Mint location (Philadelphia, Denver and Washington) and an additional 100 units per day for the first three days after the product launch. There will be 2,500 at the ANA, 500 available per day of the convention.

The household ordering limit of five will remain the same.

FullStrike · July 31, 2014 12:18AM

This is not fair to the Dealers. Will the Dealers still be able to make backdoor deals at Mint HQ? Yes? OK cool.

Way to go Mint, we certainly want the mass marketers taken care of first.

MsMorrisine · July 31, 2014 12:34AM

The people paid to be in line will just have to increase

I'm happy they cut it down to 1.

Turn on your Private Messages, JS

Twobitcollector · July 31, 2014 12:41AM

That's good news as I will go to the Philadelphia Mint to get one

MsMorrisine · July 31, 2014 12:51AM

<< That's good news as I will go to the Philadelphia Mint to get one >>

Is philly easy to park near?

Private messages-- up near the "login" is a "profile" button. On the profile page is "allow private messages" radio button.

agentjim007 · July 31, 2014 12:59AM

Now a line of 500 at the ANA starting 8:00. You can't hold a place in line, you better wear that diaper. It takes no longer to sell one person 2 coins than it does to sell them 1. Time in line just doubled. Good luck guys, you might do better standing outside with a cup if your goal is free money.

7over8 · July 31, 2014 1:01AM

I'll be on the line in Chicago. Day 1. Pre-registered.

I like the 1 per person limit. Fine with me.

If any collector or dealer wants more, just buy them from people exiting the mint counter. Im sure an offer of $300 over will beat any dealer - just have a handful of cash available.

agentjim007 · July 31, 2014 1:09AM

I'm going day two and won't be waiting in that line. I have a coin to submit and if I'm right I'll do much better than the (not so) quick flip on these coins. Won't waste my day in a line and have the true thrill of the hunt submitting this coin. By the time you wait in all the lines to get the coin and getting it submitted the day will be ending, helluva way to spend the day at the ANA.

derryb · July 31, 2014 1:11AM

<< I'm going day two and won't be waiting in that line. I have a coin to submit and if I'm right I'll do much better than the quick flip on these coins. Won't waste my day in a line and have the true thrill of the hunt submitting this coin. By the time you wait in all the lines to get the coin and getting it submitted the day will be ending, helluva way to spend the day at the ANA. >>

Not even gonna check to see how long the line is?

agentjim007 · July 31, 2014 1:22AM

Not even gonna check to see how long the line is?

NO.
I get in half an hour early for ANA member and will head right over to NGC before the lines begin. I am not going to get there before 8 am so I can spend the day in line. It's not that important. If I were able to wait in a short line sure why not but I'm not wearing a diaper.

MsMorrisine · July 31, 2014 1:30AM

PM sent

Twobitcollector · July 31, 2014 1:33AM

I was there yesterday, some parking on Arch St and some on 5th St below Arch St. It's $1.00 for 20 minutes. I was lucky as there was no line to get in but sometimes I've gone during the summer an there is a very long line. Must present photo ID to enter

epcjimi1 · July 31, 2014 1:41AM

<< There will be 500 units available initially at each United States Mint location (Philadelphia, Denver and Washington) and an additional 100 units per day for the first three days after the product launch.
>>

So....that means 600 per day on Wed, Thurs & Fri in Philadelphia, Denver and Washington? This is getting weird.

guitarwes · July 31, 2014 1:49AM

Just hire this guy for a hundred bucks and enjoy the ANA and make money. Yes, I'm serious......

Professional Line Sitter

BackroadJunkie · July 31, 2014 1:52AM

<< 

<< That's good news as I will go to the Philadelphia Mint to get one >>

Is philly easy to park near? >>

You can usually find street parking, but if there isn't any, you can park in the underground lot across the mall, near the Liberty Bell.

agentjim007 · July 31, 2014 1:54AM

Hire him to wait in line? Give him his 100 bucks plus approx. $1200 cash for the coin then go enjoy the show.

BackroadJunkie · July 31, 2014 1:59AM

<< Now a line of 500 at the ANA starting 8:00. You can't hold a place in line, you better wear that diaper. >>

Don't need no diapers... Heh...

I have a package. Haven't used one yet. Maybe I should go to the show and sell 'em to those in the line. After all, during the gold strikes, it wasn't the miners that made all the money. It was the guys who sold them supplies!

BStrauss3 · July 31, 2014 2:00AM

<< 

<< There will be 500 units available initially at each United States Mint location (Philadelphia, Denver and Washington) and an additional 100 units per day for the first three days after the product launch.
>>

So....that means 600 per day on Wed, Thurs & Fri in Philadelphia, Denver and Washington? This is getting weird. >>

No.

500 the first day, 100 additional coins each of the 3 days and then whatever they have on-hand to sell until they can run off an mint more.

I find the NGC requirement for ANA label to have the ORIGINAL mint receipt more interesting...

I had thought to buy 2, keep one and flip one, but then the issue of which specialty label to pick. And then I realize it's not about the coin, but about the label and then - meh.

MsMorrisine · July 31, 2014 2:02AM

<< Hire him to wait in line? Give him his 100 bucks plus approx. $1200 cash for the coin then go enjoy the show. >>

The complication is not lost on me, but the paid line stuffers can ask for people to use their credit cards and give cash after.

Or they can give cash moments before entering the door.

BackroadJunkie · July 31, 2014 2:20AM

<< I find the NGC requirement for ANA label to have the ORIGINAL mint receipt more interesting... >>

This. I've mentioned before that I'm disappointed PCGS won't require receipts. It's an open invitation for dealers (or other individuals) to buy the coins at the mint stores, then fly them into Chicago and get an ANA label.

When it's all said and done, it'll be interesting to see if more than 2,500 coins will get an ANA label...

MsMorrisine · July 31, 2014 2:28AM

If Show labels are to mean anything, and that is subject to debate even now, I agree that all the TPGs should require the show receipt with the submission.

ChrisRx · July 31, 2014 2:35AM

Wouldn't it be cheaper to not wait in the long line and buy one a year from now when the price drops?

CaptHenway · July 31, 2014 2:36AM

Price: $1,240.

MsMorrisine · July 31, 2014 2:39AM

I think they will hold value at least

guitarwes · July 31, 2014 2:43AM

<< Wouldn't it be cheaper to not wait in the long line and buy one a year from now when the price drops? >>

We are such a "microwave" society that this don't apply to 99.9% of people today. We want it and we want it NOW. There is even already popped microwave popcorn for sale now. How stupid is that?

But, Thank you anyway Captain Obvious.

BigA · July 31, 2014 2:45AM

Isn't it one per person per day x 5 days?

ChrisRx · July 31, 2014 2:49AM

Kudbegud · July 31, 2014 2:55AM

<< Isn't it one per person per day x 5 days? >>

Exactly. Stand in line every day and get 1 per day. Really? Too much fun for me.

Justlooking · July 31, 2014 3:05AM

<< 

<< Wouldn't it be cheaper to not wait in the long line and buy one a year from now when the price drops? >>

We are such a "microwave" society that this don't apply to 99.9% of people today. We want it and we want it NOW. There is even already popped microwave popcorn for sale now. How stupid is that?

But, Thank you anyway Captain Obvious.

>>

Nobody wants to KEEP one with that label ... they all want to SELL one with that label for the highest possible price.

leothelyon · July 31, 2014 3:07AM

The thing about having to stand in line is when you see other people joining the line after you stood there for 3 hours. Oh, this is my wife or girlfriend, she was saving a spot for me and the guy looks like he just came from a UFC fight. Worse case when someone's great grandpa comes winging towards the line........

As long as they have a registry card.......right?

Leo

leothelyon · July 31, 2014 3:11AM

<< 

<< 

<< Wouldn't it be cheaper to not wait in the long line and buy one a year from now when the price drops? >>

We are such a "microwave" society that this don't apply to 99.9% of people today. We want it and we want it NOW. There is even already popped microwave popcorn for sale now. How stupid is that?

But, Thank you anyway Captain Obvious.

>>

Nobody wants to KEEP one with that label ... they all want to SELL one with that label for the highest possible price. >>

If they allow one per at the show....which I really doubt 2500 people are going to show up for this, this does create for paper work for the TPG companies.

LindeDad · July 31, 2014 4:30AM

<< Hire him to wait in line? Give him his 100 bucks plus approx. $1200 cash for the coin then go enjoy the show. >>

Just what one wants to do with a total stranger on a day hire in Chi. town.

7over8 · July 31, 2014 4:43AM

Given the TPG "across the street" requiring receipt for ANA show coin labels, I think they will be more desirable in the long run.

Our hosts should do the same.

7over8 · July 31, 2014 5:33AM

<< Wouldn't it be cheaper to not wait in the long line and buy one a year from now when the price drops? >>

Wait in line, certify it with show label in 70, sell it for triple issue.

Buy one for yourself online and keep a grand for your trouble.

DIMEMAN · July 31, 2014 6:18AM

>>>Wouldn't it be cheaper to not wait in the long line and buy one a year from now when the price drops?<<<

Or better yet......not buy one later either. Save time and money!

I'm going to the "COIN" show....to buy COINS.

7over8 · July 31, 2014 6:23AM

<< I'm going to the "COIN" show....to buy COINS. >>

I agree with you.

However, too many "so called coin guys" that poo-poo this coin will be on that line.....$$$ speaking to them....

Can you keep them off the line for the benefit of the rest of us

Manorcourtman · July 31, 2014 6:26AM

<< Given the TPG "across the street" requiring receipt for ANA show coin labels, I think they will be more desirable in the long run.

Our hosts should do the same. >>

In a couple months NOBODY will even remember, or care, what/how these labels were obtained. They will just be fancy labels on a common bullion gold coin. PCGS knows exactly what they are doing and its feeding its bottom line! Smart peeps run this place!!!

segoja · July 31, 2014 6:37AM

Check the prices on the Baltimore label Gold coins and then rethink your position on what the Kennedy's will be worth.

Wholesale on the Baltimore coins is greater than retail right after the show and you can't buy any coins.

This will have broader appeal, including international buyers (Europe Loves anything Kennedy) and you have low supply and high demand which equals high prices. They will sty that way like it or not (for the ANA Label Coin)

Just my opinion

HIGHLOWLEAVES · July 31, 2014 7:07AM

NGC is offering a "First Day of Issue" for the 2104 Gold Kennedy Half submitted at the Chicago ANA show/ NGC Booth. Requirements as I understand it are: you must have a valid receipt from a USM outlet other than the USM booth at the ANA Show and it must be dated 8/5/14. I understand that you cannot get a NGC label at the ANA Show that states " ANA " and "First day of Issue" on the same NGC Show Label from NGC. If having to make a choice of labels and you bought your gold Kennedy the first day at the show, which label will be the most valuable ?? The NGC web site didn't really clarify what label choices I could have when submitting the gold coin to NGC at the Chicago ANA show. Please comment. Thanks.

BackroadJunkie · July 31, 2014 7:12AM

<< 

<< Isn't it one per person per day x 5 days? >>

Exactly. Stand in line every day and get 1 per day. Really? Too much fun for me. >>

Well, there is a limit of 5 coins per person on the website...

(Anyone who's stu... motivated enough to try to get in the first 250 places on all 5 days deserves it...)

19Lyds · July 31, 2014 7:28AM

<< That's good news as I will go to the Philadelphia Mint to get one >>

Too bad the San Francisco Mint does not have a Store. I'd make the drive.

And a very big THANK YOU to the US Mint for addressing this issue although I STILL do not think they should release these coins at a coin show.

BUT, since they are also available at the US Mint stores, I'll back off on my diatribes and whining!

DaveWcoins · July 31, 2014 7:29AM

<< Check the prices on the Baltimore label Gold coins and then rethink your position on what the Kennedy's will be worth.

Wholesale on the Baltimore coins is greater than retail right after the show and you can't buy any coins.

This will have broader appeal, including international buyers (Europe Loves anything Kennedy) and you have low supply and high demand which equals high prices. They will sty that way like it or not (for the ANA Label Coin)

Just my opinion >>

Segoja -- is there any way the PCGS label won't be the more valuable of the two services' labels?

7over8 · July 31, 2014 8:44AM

Accepting coins not purchased at the show - for a show label, waters down the scarcity of the show label.

Plain and simple.

More coins with the label, coins are worth less.

NGC is ensuring that the coin is bought at the show for their label This will contribute toward their scarcity and value.

I may walk across the aisle, unless of course, our sponsors make a change.

MsMorrisine · July 31, 2014 10:40AM

Jake Sherlock -- I just realized that the clad sets are still in transit (mostly) from Indiana.

The mint won't start selling the gold until noon.

Technically, the mint could sell the clad sets as soon as the registers open the first day. Subsequent days, technically, both can be sold as soon as the registers open.

A bunch of people could be making their own line for the mad clad rush, as they can sub them at the show faster than waiting for their shipments to arrive from Indiana back at the shops.

What I see here is the potential for another line crisis for the clad on the first day of the ANA at least. (If not following days, too)

Perhaps you need to be pro-active and get with the mint to make a second line for what clad sets they bring... If not all week then at least for the first day.

MsMorrisine · July 31, 2014 11:01AM

I will add to the above that on the first day, there may be complaints that those in line for the gold may be excluded by a sell out of the clads if they sell before noon. Some in line may see this as a potential unfair situation.

Perhaps everyone in line for either a gold or the clads should be in 1 line?? Or???

Also, for purposes of ability to answer questions, you may want to ask the mint about the number of clad sets for sale on each day and the sales limits per customer.

I really urge both the ANA(security) and the mint(sales) to have a plan for the clad sales, too.

Manorcourtman · July 31, 2014 11:06AM

<< I will add to the above that on the first day, there may be complaints that those in line for the gold may be excluded by a sell out of the clads if they sell before noon. Some in line may see this as a potential unfair situation.

Perhaps everyone in line for either a gold or the clads should be in 1 line?? Or???

Also, for purposes of ability to answer questions, you may want to ask the mint about the number of clad sets for sale on each day and the sales limits per customer.

I really urge both the ANA(security) and the mint(sales) to have a plan for the clad sales, too. >>

derryb · July 31, 2014 11:09AM

Mint posts price for the gold JFK

JakeSherlock · July 31, 2014 11:57AM

<< I will add to the above that on the first day, there may be complaints that those in line for the gold may be excluded by a sell out of the clads if they sell before noon. Some in line may see this as a potential unfair situation.

Perhaps everyone in line for either a gold or the clads should be in 1 line?? Or???

Also, for purposes of ability to answer questions, you may want to ask the mint about the number of clad sets for sale on each day and the sales limits per customer.

I really urge both the ANA(security) and the mint(sales) to have a plan for the clad sales, too. >>

Thanks for the info. I'll pass that along to the show manager so that we're ready for it.

reddwing · July 31, 2014 1:25PM

Would i be crazy to drop $6200 for five of these bad boys?

BStrauss3 · July 31, 2014 3:14PM

IMNSHO yes.

I think there will be a modest premium to the few coins traceable to the ANA show via limited edition TPG labels. And maybe those who get lucky and can jump through the hoops for the first day labels not at the show. The TPGs were on a different planet for the 2 coin set - you had to have it post marked by the mint and in their hands before the coins were ultimately released.

But with mint-to-order, there will not be major scarcity and so you will see the typical modest premium for the MS70s, the MS69s as the base case spot + 10% and the few MS68s sold at closer to melt.

7over8 · July 31, 2014 11:17PM

<< I think there will be a modest premium to the few coins traceable to the ANA show via limited edition TPG labels. >>

Modest? Both the Rev Prf Buffalo and HOF coins sold for multiples of issue with the show labels in PR/MS70.

The question remains ......do you go with the TPG that requires proof of purchase at the ANA show, or, the one that does not.

I think the answer is clear when you consider which label will be scarcer.

This just in -- Only one Kennedy coin per customer at the World's Fair of Money

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The more qualities observed in a coin, the more desirable that coin becomes!

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