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Gold Kennedy's @ ANA Show- Day 2
foodude
Posts: 3,591 ✭✭✭
I was awoken at about 2:20 am while a sleep in my hotel room by the sound of sirens and police on a bullhorn ... there currently are several hundred people in line outside the convention center, along with at least 8 police cars with lights flashing . A few minutes ago people were running in the street with the police making announcements with a bullhorn for people to get out of the street ... They now seem to have the crowd under control. Police cars with lights flashing continue to block some lanes of traffic ...
Greg Allen Coins, LLC Show Schedule: https://forums.collectors.com/discussion/573044/our-show-schedule-updated-10-2-16 Authorized dealer for NGC, PCGS, CAC, and QA. Member of PNG, RTT (Founding Platinum Member), FUN, MSNS, and NCBA (formerly ICTA); Life Member of ANA and CSNS. NCBA Board member. "GA3" on CCE.
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I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
If you are planning to show up this morning, my advice is don't.
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>Wei, can you post a pic? >>
I took one earlier but you can't see anything clearly except for police lights and I don't want to get any closer to the crowd.
Imagine if the state legalized pot for a four hour period starting at 6am. That's what it would look like.
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>Wei, can you post a pic? >>
I took one earlier but you can't see anything clearly except for police lights and I don't want to get any closer to the crowd.
Imagine if the state legalized pot for a four hour period starting at 6am. That's what it would look like. >>
...it's Chicago bro; ALL drugs are legal if you can afford to pay the juice up front
Erik
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<< <i>Wei, can you post a pic? >>
I took one earlier but you can't see anything clearly except for police lights and I don't want to get any closer to the crowd.
Imagine if the state legalized pot for a four hour period starting at 6am. That's what it would look like. >>
...it's Chicago bro; ALL drugs are legal if you can afford to pay the juice up front
Erik >>
Regardless of what the ANA tries to sell everybody the show is actually in the village of Rosemont, IL. In reality the show has nothing to do with Chicago. Think small city with an inflated police force, both in personnel and otherwise.
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>Wei, can you post a pic? >>
I took one earlier but you can't see anything clearly except for police lights and I don't want to get any closer to the crowd.
Imagine if the state legalized pot for a four hour period starting at 6am. That's what it would look like. >>
...it's Chicago bro; ALL drugs are legal if you can afford to pay the juice up front
Erik >>
Regardless of what the ANA tries to sell everybody the show is actually in the village of Rosemont, IL. In reality the show has nothing to do with Chicago. Think small city with an inflated police force, both in personnel and otherwise. >>
...Yeah, kinda like Harvey, IL isn't part of Chi Town...but we all know it certainly is, just like Rosemont, IL is
Erik
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<< <i>Wei, can you post a pic? >>
I took one earlier but you can't see anything clearly except for police lights and I don't want to get any closer to the crowd.
Imagine if the state legalized pot for a four hour period starting at 6am. That's what it would look like. >>
...it's Chicago bro; ALL drugs are legal if you can afford to pay the juice up front
Erik >>
Regardless of what the ANA tries to sell everybody the show is actually in the village of Rosemont, IL. In reality the show has nothing to do with Chicago. Think small city with an inflated police force, both in personnel and otherwise. >>
...Yeah, kinda like Harvey, IL isn't part of Chi Town...but we all know it certainly is, just like Rosemont, IL is
Erik >>
Basically the same way we in the Bay Area call everything south of San Luis Obispo "L.A." (Don't get The Penny Lady started on this) Disneyland...that's in L.A. Riverside...that's L.A. Newport Beach...that's L.A. San Diego...that the south end of L.A. It's the same way L.A. people call everything north of Santa Barbara "San Francisco". San Jose...that's in SF. Sacramento...that's SF too.
At least Rosemont has a CTA station within walking distance from the convention center.
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> Basically the same way we in the Bay Area call everything south of San Luis Obispo "L.A." (Don't get The Penny Lady started on this) Disneyland...that's in L.A. >>
Boy, I can't wait for Charmy's report on this one!
I wonder what would happen if PCGS and NGC decided to stop issuing any more special labels ...
<< <i>Hopefully this release spurs interest in coin collecting with younger people. >>
I understand what you're saying but how many peoples first impression of the hobby will be ridiculous line waiting and flipping.
"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
<< <i>Hopefully this release spurs interest in coin collecting with younger people. >>
Except "collectors" would a) go to the show in the afternoon to actually see coins and b) order the gold coin online
Please do NOT equate collecting with flipping.....I have no issue with either but they are most definitely not the same
I knew it would happen.
In honor of the memory of Cpl. Michael E. Thompson
<< <i>Hopefully this release spurs interest in coin collecting with younger people. >>
Flippers and profiteers.
This is a joke
Online only until 1 week after the coins are in hand.
It's not a bullion show!!!! ARGH!!!!
<< <i>I was awoken at about 2:20 am while a sleep in my hotel room by the sound of sirens and police on a bullhorn ... there currently are several hundred people in line outside the convention center, along with at least 8 police cars with lights flashing . A few minutes ago people were running in the street with the police making announcements with a bullhorn for people to get out of the street ... They now seem to have the crowd under control. Police cars with lights flashing continue to block some lanes of traffic … >>
Reads like a raid on Minnesota dealers. Look out for drones.
Practice makes perfect & nobody is perfect. So, practice being nobody.
I cant believe the US Mint would stand by and allow this situation to develop. They constantly preach how they want their product to reach as many "collectors" as possible, make sure limits are in place per person, per household, etc.
We know the US Mint cancels larger orders when supplies dwindle in a limited issue release, in favor of distributing to more collectors.
Why would they ever allow a few buyers - RIGHT IN FRONT OF THEM - actually AT THE REGISTERS, handing credit cards over and cash to their proxy buyers to buy the coins, then collect them two steps beyond the registers still on site, IN PLAIN VIEW!
I think some US Mint officials need to come down hard on enforcement.....and changes need to be made.
<< <i>Completely insane. Same as Philadelphia yesterday.
I cant believe the US Mint would stand by and allow this situation to develop. They constantly preach how they want their product to reach as many "collectors" as possible, make sure limits are in place per person, per household, etc.
We know the US Mint cancels larger orders when supplies dwindle in a limited issue release, in favor of distributing to more collectors.
Why would they ever allow a few buyers - RIGHT IN FRONT OF THEM - actually AT THE REGISTERS, handing credit cards over and cash to their proxy buyers to buy the coins, then collect them two steps beyond the registers still on site, IN PLAIN VIEW!
I think some US Mint officials need to come down hard on enforcement.....and changes need to be made. >>
There are people here bragging about how they ordered five coins. You get really tired of it after a while. As a collector I want one to keep.
<< <i>There are people here bragging about how they ordered five coins. You get really tired of it after a while. As a collector I want one to keep. >>
I agree with you - but multiply that by 60x. About 330 coins of 500 were scoffed up by two buying parties (dealers) in Philadelphia yesterday.
Employing wrist bands and hand stamps to identify which people (proxies) worked for who, as they got to the register one of the two parties would pay for them. And collect the coin.
As soon as that was observed by the US Mint officials (who were there for enforcement) it should have been stopped.
dealers should bring hot dogs and chips through the back door
Then you will hear the people in line asking : "Pardon me sir …. "
Practice makes perfect & nobody is perfect. So, practice being nobody.
10-4,
My Instagram picturesErik
My registry sets
At the ANA show, the most any dealer got from buying from the line after the purchased from the mint was 40 pieces. The buyers were besieged with offers from $2700 to over $3000.
<< <i>Coins have becomes edgy, dangerous, requiring police action.
lmao
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CoinsAreFun Toned Silver Eagle Proof Album
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Gallery Mint Museum, Ron Landis& Joe Rust, The beginnings of the Golden Dollar
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More CoinsAreFun Pictorials NGC FOR SALE
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<< <i>There are people here bragging about how they ordered five coins. You get really tired of it after a while. As a collector I want one to keep. >>
I agree with you - but multiply that by 60x. About 330 coins of 500 were scoffed up by two buying parties (dealers) in Philadelphia yesterday.
Employing wrist bands and hand stamps to identify which people (proxies) worked for who, as they got to the register one of the two parties would pay for them. And collect the coin.
As soon as that was observed by the US Mint officials (who were there for enforcement) it should have been stopped. >>
under what authority?
they need to, but probably won't, go back to online orders only until the coins are in hand for 1 week.
If people are flipping so hard and fast and they are also buying 5 online looking for the flip..... to whom will they sell? Is there this much demand pent up? I hope so or this will be a bath.
<< <i>under what authority? >>
The US Mint at its discretion. We see this with online orders. They cancel larger orders in favor of smaller orders of wider distributed customers.
You had to be there. It was a blatant disregard for the 1 pp limit rule. Over 18 rule? Not enforced. Kids as young as 7-8 years old. The end dealer/buyer was PAYING for the proxy customer coins. They stood right by the registers.
It is harder to enforce when those walking in pay for it themselves, or with cash, and sell it outside. This was not at all hidden. All in plain sight.
Read the newspaper articles, from Philadelphia and Denver - all recorded with pictures, and in my opinion a "black eye" for the US Mint.
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<< <i>under what authority? >>
The US Mint at its discretion. We see this with online orders. They cancel larger orders in favor of smaller orders of wider distributed customers.
You had to be there. It was a blatant disregard for the 1 pp limit rule. Over 18 rule? Not enforced. Kids as young as 7-8 years old. The end dealer/buyer was PAYING for the proxy customer coins. They stood right by the registers.
It is harder to enforce when those walking in pay for it themselves, or with cash, and sell it outside. This was not at all hidden. All in plain sight.
Read the newspaper articles, from Philadelphia and Denver - all recorded with pictures, and in my opinion a "black eye" for the US Mint. >>
I know in DC the age was strictly enforced! people had to get out of line since some of the dealers were holding IDs until the proxies returned with the coin so it slowed everything down. I even tried with my kid to make her some cash and they said NOPE. The wife and I gave her 200.00 of ours which we just deposited into her account.
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<< <i>There are people here bragging about how they ordered five coins. You get really tired of it after a while. As a collector I want one to keep. >>
I agree with you - but multiply that by 60x. About 330 coins of 500 were scoffed up by two buying parties (dealers) in Philadelphia yesterday.
Employing wrist bands and hand stamps to identify which people (proxies) worked for who, as they got to the register one of the two parties would pay for them. And collect the coin.
As soon as that was observed by the US Mint officials (who were there for enforcement) it should have been stopped. >>
they need to, but probably won't, go back to online orders only until the coins are in hand for 1 week.
If people are flipping so hard and fast and they are also buying 5 online looking for the flip..... to whom will they sell? Is there this much demand pent up? I hope so or this will be a bath. >>
notice how totally absent, any words , discussion about the ANA show itself.... are missing .. ANA is shooting itself in the leg, long term
<< <i>notice how totally absent, any words , discussion about the ANA show itself.... are missing .. ANA is shooting itself in the leg, long term >>
Does the ANA really have a choice?
Besides, the Kennedy and HOF coins are blips on the radar. Next year the mint and the Congress will go back to authorizing turkeys, like the 1964 50th anniversary Civil Rights dollar, which few collectors want.
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<< <i>notice how totally absent, any words , discussion about the ANA show itself.... are missing .. ANA is shooting itself in the leg, long term >>
Does the ANA really have a choice?
Besides, the Kennedy and HOF coins are blips on the radar. Next year the mint and the Congress will go back to authorizing turkeys, like the 1964 50th anniversary Civil Rights dollar, which few collectors want. >>
I ask the ANA's Sherlock if the US Mint was calling the shot at the Show s,,, or doing as they please at The ANA Show.... Never got a response
Is the US MINT a big money contributor to the ANA Show ?
IMO, if anyone cares, this whole episode is shameful and I do hope flippers ultimately get burnt & preferable ALL of them in this proverbial Hot Potato game.
Well, just Love coins, period.
I was at the show this morning and was walking past the line when there was an announcement that the 500 pieces designated for today were already spoken for. This announcement was taking place street side so I assume the few folks under the canopy/driveway were the lucky ones. There was a collective groan.
This was about 9:30 AM.
Then inside I spoke with a Dealer friend who indicated that the packaging (indicating the coin was purchased at the ANA show) would matter on resale. Our collective best guess is that the premium would evaporate in about 30-60 days.
Pffft....
<< <i>About 330 coins of 500 were scoffed up by two buying parties (dealers) in Philadelphia yesterday. >>
My guess is they were headed for FDI - Philadelphia labeling and then right for the TV networks.
Do you like the "buzz" around moderns , YES or No ?
And let's find out who does , or not
Practice makes perfect & nobody is perfect. So, practice being nobody.
<< <i>I love a good coin frenzy. >>
Yeah, but I'm not entirely sure this is a "good coin frenzy." Last night amid the sirens and bullhorns, there were fights, street gang muggings, and general bits of pandemonium and unruliness so that people could buy a coin they're told they could make instant Obscene Profit™ on, and many of these people had no idea why once they were paid to show up. Yes, it created a ton of publicity, but also security problems. Some of these people were introduced to the hobby as they looked around at other things in the show, but many simply saw it as a get-rich-quick opportunity. The Kennedy gypsy camp was setting up for tomorrow morning this afternoon. While it's great that some "regular people" will make serious money on this over the next few days, there will be some downstream that will get buried in the coins, which won't exactly sit well with them. At any rate, I am left wondering what any of this really has to do with numismatics.
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since you have no interest I believe you meant to say "I couldn't care less" unless you really do care. I'm right there with you either way and suspect that this latest "craze" will all but kill the HOF coins which had already showed signs of falling backwards on the price sheets. this has me reminiscing about all the times I spent as a teenager waiting in line for concert tickets, a phenomenon which has evaporated with the passing of time as internet sales and promoters have taken away the possibility of the common masses getting whatever is being sold. it is discouraging to say the least.
I suspect that the ANA and the Mint will probably get some negative feedback on this and other similar promotions. if the intent was to stir interest I believe they succeeded, though some of that interest will be heard from disgruntled collectors.
<< <i>I could care less about this stuff but
since you have no interest I believe you meant to say "I couldn't care less" unless you really do care. I'm right there with you either way and suspect that this latest "craze" will all but kill the HOF coins which had already showed signs of falling backwards on the price sheets. this has me reminiscing about all the times I spent as a teenager waiting in line for concert tickets, a phenomenon which has evaporated with the passing of time as internet sales and promoters have taken away the possibility of the common masses getting whatever is being sold. it is discouraging to say the least.
I suspect that the ANA and the Mint will probably get some negative feedback on this and other similar promotions. if the intent was to stir interest I believe they succeeded, though some of that interest will be heard from disgruntled collectors. >>
I heard a rumor that the dealers who "hired" the homeless to wait hours in line with prepaid credit cards to pick up the JFK goldies for them are planning to personally volunteer the same amount of collective hours, along with their full staffs, at soup kitchens.
A good gesture, but nevertheless the US Mint should stop this nonsense. The way to stop is -
Next show release.................
1) US Mint should allow anyone to "enter" a random selected lottery at the show.
2) Randomly select XXX number of tickets and display numbers.
3) Ticket holder must come forward and purchase coin with their own personal credit card or check drawn on their account. They must have photo ID. No cash or ppd cards accepted. (and I know cash should be accepted, but many events do not accept "cash" for security reasons---and this is a way to eliminate cash seeded buyers)
4) One per person per duration of the show. Names are collected upon sale.
Stops the group buyers dead in their tracks. They can buy from people coming off the line - but I guarantee you the lines will be a very orderly process. None of this BS with 99.9% of those online are only paid line sitters - most don't even know what they are buying - and 99.9% could not even afford to buy one on their own.
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I did go to Philadelphia on Aug 5th, an easy 1:15 min drive, and arrived around 7:30am. What a cluster$$ck. I've written a few posts about the nonsense going on there.
I would have been willing to collect a ticket, go see Independence Hall and the Liberty Bell, and come back around 1pm to get the coin.
Well, no ticket, and on my way home by 8:30am. Home to order on the internet well before noon.
I would have jumped at that opportunity when I was a poor college student.
But this is not an effort by the US Mint to help the homeless, or college students, or people down on their luck....
The US Mints goal is to put as many of these coins into the hands of the "end" collector. Not into intermediate hands to be marked up twice or more.