Home U.S. Coin Forum

WHERE DID THE PROOF JACKIE KENNEDY COINS GO?

KudbegudKudbegud Posts: 4,735 ✭✭✭✭✭
An editorial (?) in Coin World Voices section by Louis Golino. He opens with a little about the Truman C & C sets then discusses the missing PF Jackie coins. Interesting read. I hope he gets a response from the Mint’s Office of Public Affairs as he has requested.

LINK

(Coin Vault LINK) Cited in a later comment (Mint News Blog Comments LINK) as one of the dealers that already has graded First Day Of Issue coins for sale.

Comments

  • OperationButterOperationButter Posts: 1,672 ✭✭✭
    Thats BS if thats the case. By the looks of it, it is true.
    Gold is for savings. Fiat is for transactions.



    BST Transactions (as the seller): Collectall, GRANDAM, epcjimi1, wondercoin, jmski52, wheathoarder, jay1187, jdsueu, grote15, airplanenut, bigole
  • OperationButterOperationButter Posts: 1,672 ✭✭✭
    Gold is for savings. Fiat is for transactions.



    BST Transactions (as the seller): Collectall, GRANDAM, epcjimi1, wondercoin, jmski52, wheathoarder, jay1187, jdsueu, grote15, airplanenut, bigole
  • TopographicOceansTopographicOceans Posts: 6,535 ✭✭✭✭
    My Jackie proof is backordered and I slept through the Truman C&C

    Dealers have them in stock back from NGC (with at least one picture and cert number). I guess that could happen in 4 business days, but it certainly seems like there would be a lot of grease along the way to make that happen image
  • pf70collectorpf70collector Posts: 6,672 ✭✭✭
    $1099:00 for an NGC70. I will pass from Paradise Mint.. Looks like the First Strike Proof will only come from dealers. At least I have til Sept to cancel my Jackie proof.
  • jmski52jmski52 Posts: 22,971 ✭✭✭✭✭
    $300 markup for a label? LOL!
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • rickoricko Posts: 98,724 ✭✭✭✭✭
    I am not a collector of the hags or the prezzies.... however, looking at this coin, I must say, the likeness is poorly done. Cheers, RickO
  • CameonutCameonut Posts: 7,306 ✭✭✭✭✭
    We all knew the mint sucks, but the entire mintage gone in 15 minutes?

    With the known problems on their website, that doesn't seem possible.

    “In matters of style, swim with the current; in matters of principle, stand like a rock." - Thomas Jefferson

    My digital cameo album 1950-64 Cameos - take a look!

  • HATTRICKHATTRICK Posts: 2,167 ✭✭✭✭✭
    Where ever there is a product for sale there is a back door to get it. During the beanie baby craze I was
    a middle man for "the backdoor man" who made millions off of Beanies & Pokemon. There is always a way.

    "If you push something hard enough, it will fall over"image
    " If you push something hard enough, it will fall over. " The 1st Law of Opposition from The Firesign Theater
  • RaufusRaufus Posts: 6,817 ✭✭✭✭✭
    Werent the proofs at the Mint Kiosks?

    Edited: Just spoke to D.C. Kiosk. Said "We had quite a few proofs. Sold out on first day.". They have 1 UNC left. I'm only 20" from there. Should have bought some proofs and sent in for FS. Oh well...
    Land of the Free because of the Brave!
  • BillJonesBillJones Posts: 34,166 ✭✭✭✭✭
    It looks like history is repeating itself with some of the modern commemorative coins. Back when the "classic" commemorative coins were distributed, there were back door deals with dealers who cornered the market and then charged controlled market prices for the coins. These abuses occurred with the Boone, Cincinnati, Hudson and Oregon Trail coins among others. Now it's happening again.

    Instead of hiring people to stand on line at the Baltimore coin show to buy up the mintage, now the same dealers are bypassing the street people and going directly to the source. Who know who some of the ringleaders were the last time. They are probably the same people this time around.

    One can expect such behavior from businesses. If they can get a leg up they'll do it. The disappointment lies with the United State Mint which condones and abets such behavior. We all pay taxes and are citizens of the U.S. Unfortunately, with the government "some pigs are more equal than other pigs." "The more equal pigs" are getting to wallow up to the trough first and lay in slop to prevent "the less equal pigs" from consuming until those lesser pigs have paid a monopoly rent.
    Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
  • HATTRICKHATTRICK Posts: 2,167 ✭✭✭✭✭
    < One can expect such behavior from businesses. If they can get a leg up they'll do it. The disappointment lies with the United State Mint which condones and abets such behavior. We all pay taxes and are citizens of the U.S. Unfortunately, with the government "some pigs are more equal than other pigs." "The more equal pigs" are getting to wallow up to the trough first and lay in slop to prevent "the less equal pigs" from consuming until those lesser pigs have paid a monopoly rent. >

    GOD BLESS AMERICA ! LAND OF THE FREE AND HOME OF THE CAPITALISTS.
    " If you push something hard enough, it will fall over. " The 1st Law of Opposition from The Firesign Theater
  • bronco2078bronco2078 Posts: 10,254 ✭✭✭✭✭


    << <i>

    GOD BLESS AMERICA ! LAND OF THE FREE AND HOME OF THE CRONY CAPITALISTS. >>



    Fixed that for youimage
  • TwoSides2aCoinTwoSides2aCoin Posts: 44,431 ✭✭✭✭✭
    The proof is in the putting ….

    Putting it on ebay image
  • RaufusRaufus Posts: 6,817 ✭✭✭✭✭
    Lots of proofs in stock at MCM
    Land of the Free because of the Brave!
  • OperationButterOperationButter Posts: 1,672 ✭✭✭
    Completely crap. This really is unacceptable behavior from the mint.

    MCM Ebay for those that want NGC graded
    Gold is for savings. Fiat is for transactions.



    BST Transactions (as the seller): Collectall, GRANDAM, epcjimi1, wondercoin, jmski52, wheathoarder, jay1187, jdsueu, grote15, airplanenut, bigole
  • HATTRICKHATTRICK Posts: 2,167 ✭✭✭✭✭
    It did not take long to establish a backdoor connection with the new fullfillment company.
    It is the fullfillment company who actually controls who gets shipped first no matter how
    they were directed by the mint.
    " If you push something hard enough, it will fall over. " The 1st Law of Opposition from The Firesign Theater
  • RaufusRaufus Posts: 6,817 ✭✭✭✭✭
    Tried cancelling my proofs given back order date of sept. Rep said could not cancel and should them "way before " sept.
    Land of the Free because of the Brave!
  • OperationButterOperationButter Posts: 1,672 ✭✭✭
    Yup you will get them 31 days from now, just after cutoff image
    Gold is for savings. Fiat is for transactions.



    BST Transactions (as the seller): Collectall, GRANDAM, epcjimi1, wondercoin, jmski52, wheathoarder, jay1187, jdsueu, grote15, airplanenut, bigole
  • HATTRICKHATTRICK Posts: 2,167 ✭✭✭✭✭
    Fullfillment received more supply as of June 30th and will start shipping soon.
    DEMAND UNDERESTIMATED
    " If you push something hard enough, it will fall over. " The 1st Law of Opposition from The Firesign Theater
  • MsMorrisineMsMorrisine Posts: 33,407 ✭✭✭✭✭
    people are willing to complain here where it does not matter, but not complain to the people who do.


    Fax for Acting Mint Director Peterson - 202 756-6160

    have at it

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • RaufusRaufus Posts: 6,817 ✭✭✭✭✭


    << <i>Yup you will get them 31 days from now, just after cutoff image >>



    No question :-(
    Land of the Free because of the Brave!
  • pennyanniepennyannie Posts: 3,929 ✭✭✭


    << <i>people are willing to complain here where it does not matter, but not complain to the people who do.


    Fax for Acting Mint Director Peterson - 202 756-6160

    have at it >>




    No luck, it is a holiday week and he is getting ready to take a day off by taking a few days off.image
    Mark
    NGC registry V-Nickel proof #6!!!!
    working on proof shield nickels # 8 with a bullet!!!!

    RIP "BEAR"
  • FullStrikeFullStrike Posts: 4,353 ✭✭✭


    << <i>Fullfillment received more supply as of June 30th and will start shipping soon.
    DEMAND UNDERESTIMATED >>




    The Mint needs to stop that BS cloud commin out their ice and poot out some real numbers. Oh they underestimated demand , OK so how many POOFS
    did they have struck for first day sales? And how many BU's were struck for first day sales?

    I got 3 BU's on the way. Those are going back. I have 1 more Poof ordered, I'm gonna attempt to cancel that. I already canceled an order with 2 Poofs.

    I'd like to see those Dealers eat their Jackies just like these had to eat their Johnnies. That would serve em right. A one fingered salute to em all.

    image
  • wondercoinwondercoin Posts: 16,974 ✭✭✭✭✭
    And, what was equally strange about this situation is that I believe the Mint did not honor the bulk dealer discount on this product but never told some of the dealers of that decision ahead of the ordering time. This made it impossible to order the coins for the regular bulk dealer with the typical discount available for spouse gold.

    I am wondering, under the freedom of Information Act, can anyone request of the U.S. Mint all emails, etc. surrounding the distribution of these coins? Has anyone here ever successfully requested information under the Act?

    Wondercoin.
    Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.
  • I'm not sure they would turn that type of stuff over as it may be exempt but yes during the 2008/2007 reverse ASE discovery a FOIA was submitted to try and determine the mintage. It was granted and several here chipped in to pay the costs.
  • LindeDadLindeDad Posts: 18,766 ✭✭✭✭✭
    Big boys playing games again. image

    Little boys don't get to flip. image

    image
  • BillJonesBillJones Posts: 34,166 ✭✭✭✭✭


    << <i>Big boys playing games again. image

    Little boys don't get to flip. image

    image >>



    Some us don't want to flip; we want to collect.
    Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
  • KudbegudKudbegud Posts: 4,735 ✭✭✭✭✭


    << <i>people are willing to complain here where it does not matter, but not complain to the people who do.


    Fax for Acting Mint Director Peterson - 202 756-6160

    have at it >>



    I tried an additional route by emailing Coin World to investigate and report.

    William T. Gibbs - Managing Editor
    937.498.0853
    bgibbs@amospress.com

    Steve Roach - Editor-at-Large
    937.493.0932
    sroach@amospress.com

    Paul A. Gilkes - Senior Editor, U.S. Coins
    937.498.0855
    pgilkes@amospress.com

  • OperationButterOperationButter Posts: 1,672 ✭✭✭
    MCM has 517 available for sale on ebay atm. This doesnt include earlier sales or sales on their website.

    $500k order with the mint guarantees you get priority over others.

    Turn around time for MCM to get NGC graded coins was 4 business days...
    Gold is for savings. Fiat is for transactions.



    BST Transactions (as the seller): Collectall, GRANDAM, epcjimi1, wondercoin, jmski52, wheathoarder, jay1187, jdsueu, grote15, airplanenut, bigole
  • kiyotekiyote Posts: 5,580 ✭✭✭✭✭
    It's almost like the rich have advantages in life the rest of us don't!
    "I'll split the atom! I am the fifth dimension! I am the eighth wonder of the world!" -Gef the talking mongoose.
  • jmski52jmski52 Posts: 22,971 ✭✭✭✭✭
    When the 2010 5 oz. ATBs came out, nobody could find MS-69 DMPL FS coins. The order I received from Jack Hunt had a bunch of graded sub-par coins in PCGS holders. A year later, Jack Hunt was dumping their 2010 MS-69 DMPL FS coins on ebay at distressed prices. Maybe the same thing will happen here.

    I could say, "don't patronize the pigs", but I suppose that includes the Mint as well.

    In the long run, demand matters. Still, this isn't an instant sellout and you can still get a confirmed order for an un-picked-over Proof Jackie. Wait a little too long, and you may not have that option.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • BillJonesBillJones Posts: 34,166 ✭✭✭✭✭
    By the time September 1 rolls around, which the date the mint says it will fill the backorders, no one who might have paid you a profit will care. They will have moved on to the next promotable item.

    Has anyone looked at the Gray Sheet number for the Proof $5 gold baseball coin. It's down to $600 which not that much above the issue price. And I've learned that it's hard to find any dealer who pays Gray Sheet bid for modern commemoratives.
    Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
  • wondercoinwondercoin Posts: 16,974 ✭✭✭✭✭
    "Has anyone looked at the Gray Sheet number for the Proof $5 gold baseball coin. It's down to $600 which not that much above the issue price. And I've learned that it's hard to find any dealer who pays Gray Sheet bid for modern commemoratives."

    I am high buyer on CCE right now (as far as I know) for gold baseball. If anyone has FRESH baseball gold (or 70 grade), I am buying!

    Wondercoin
    Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.
  • TwoSides2aCoinTwoSides2aCoin Posts: 44,431 ✭✭✭✭✭
    The ghost of Israel Switt is image at the mint.
  • BillJonesBillJones Posts: 34,166 ✭✭✭✭✭


    << <i>"Has anyone looked at the Gray Sheet number for the Proof $5 gold baseball coin. It's down to $600 which not that much above the issue price. And I've learned that it's hard to find any dealer who pays Gray Sheet bid for modern commemoratives."

    I am high buyer on CCE right now (as far as I know) for gold baseball. If anyone has FRESH baseball gold (or 70 grade), I am buying!

    Wondercoin >>



    Yes, but at what price. You can sell the Statue of Liberty or Costitution $5 gold coins for scrap, but who pays bid? None of the dealers from what I've seen.
    Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
  • wondercoinwondercoin Posts: 16,974 ✭✭✭✭✭
    "Yes, but at what price"

    Bill. I'll send you a PM tonight. I don't want to "advertise" any further on this thread.

    Wondercoin
    Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.
  • TopographicOceansTopographicOceans Posts: 6,535 ✭✭✭✭
    I received my Uncirculated one and my proof went from backordered to Processing and my credit card was billed, so I assume it is on its way.
  • HATTRICKHATTRICK Posts: 2,167 ✭✭✭✭✭
    It's a miracle. Now that all the big dealers have their proofs graded and for sale at rediculous prices,
    the rest are ready for shipping. How is that possible?image
    " If you push something hard enough, it will fall over. " The 1st Law of Opposition from The Firesign Theater
  • brendanlambrendanlam Posts: 662 ✭✭✭


    << <i>It's a miracle. Now that all the big dealers have their proofs graded and for sale at rediculous prices,
    the rest are ready for shipping. How is that possible?image >>



    Probably those coins are return/rejected from dealer not getting 70.image
  • OperationButterOperationButter Posts: 1,672 ✭✭✭


    << <i>

    << <i>It's a miracle. Now that all the big dealers have their proofs graded and for sale at rediculous prices,
    the rest are ready for shipping. How is that possible?image >>



    Probably those coins are return/rejected from dealer not getting 70.image >>



    Thats really sad and probably true.
    Gold is for savings. Fiat is for transactions.



    BST Transactions (as the seller): Collectall, GRANDAM, epcjimi1, wondercoin, jmski52, wheathoarder, jay1187, jdsueu, grote15, airplanenut, bigole
  • pf70collectorpf70collector Posts: 6,672 ✭✭✭
    Probably those coins are return/rejected from dealer not getting 70.

    I am not sure the big purchasers will return them. I believe the mint stated years ago that those that abuse the system will be penalized. I don't think those dealers want to jeopardize their positions. I doubt the mint wants to have thousands of returned rejects from dealers to give to their loyal customers and if they did do that imagine the repercussions if that got out to the public. I believe the mint would not put their marketing position at grave risk.
  • OperationButterOperationButter Posts: 1,672 ✭✭✭


    << <i>Probably those coins are return/rejected from dealer not getting 70.

    I am not sure the big purchasers will return them. I believe the mint stated years ago that those that abuse the system will be penalized. I don't think those dealers want to jeopardize their positions. I doubt the mint wants to have thousands of returned rejects from dealers to give to their loyal customers and if they did do that imagine the repercussions if that got out to the public. I believe the mint would not put their marketing position at grave risk. >>



    Pushing the biggest name in the series to instant backorder for their "loyal customers" because they sold thousands to dealers behind the scenes didnt put their marketing position at grave risk?
    Gold is for savings. Fiat is for transactions.



    BST Transactions (as the seller): Collectall, GRANDAM, epcjimi1, wondercoin, jmski52, wheathoarder, jay1187, jdsueu, grote15, airplanenut, bigole
  • OperationButterOperationButter Posts: 1,672 ✭✭✭
    If this was any other series that more people cared about I think there would be a bigger backlash. Guess its a good thing there are ~100 or less real collectors of the series image
    Gold is for savings. Fiat is for transactions.



    BST Transactions (as the seller): Collectall, GRANDAM, epcjimi1, wondercoin, jmski52, wheathoarder, jay1187, jdsueu, grote15, airplanenut, bigole
  • FullStrikeFullStrike Posts: 4,353 ✭✭✭
    Well my Proof Jackie is processing. Too bad I took it out of the capsul and dropped it putting a bad mark on it. Oopps guess it came
    from the Mint that way. Glad they got a return policy.

    Stuff it , US Mint.

  • TwoSides2aCoinTwoSides2aCoin Posts: 44,431 ✭✭✭✭✭
    Another "fiasco". image
  • pf70collectorpf70collector Posts: 6,672 ✭✭✭
    I just cancelled my one proof order not because of dealer rejects, but seems to be not as popular as I hoped. Even at 30K that would put it close to the Martha Washington which is selling for near melt now.
  • RaufusRaufus Posts: 6,817 ✭✭✭✭✭
    Two uncs arrived today, back tomorrow.
    Bummed that I could not cancel proofs. Will have to pay to send them back as well.
    Land of the Free because of the Brave!
  • BillJonesBillJones Posts: 34,166 ✭✭✭✭✭


    << <i>I just cancelled my one proof order not because of dealer rejects, but seems to be not as popular as I hoped. Even at 30K that would put it close to the Martha Washington which is selling for near melt now. >>



    With all due respect this one of things that frosts me about the mint policy. When I buy ONE coin, I don't send it back unless there are condition issues, and I'm not talking about sending a piece back because it is MS or PR-69 and not 70. I'm talking about finger prints, big marks and toning spots. I don't cancel orders because the coin does not look like it's going to be a good investment. I buy it because I want to collect it.

    Then when it comes to something that is popular I get shut out, unless everything works perfectly for me on the Internet. Then the flippers, who are fair weather customers, end up with them and try to charge me a premium. This is my beef about distribution. The mint creates an artificial "rarity" as it has done with this Truman set, or it has insufficient stock as it is with the Jackie Kennedy half ounce gold piece and distributes it so that a comparatively small group of people get to control the market.

    Of course the saving grace is that a lot of this stuff does not hold its value. The baseball gold coin, which was once so expensive is now down to $540 wholesale in Proof despite what it says on Gray Sheet. If you are willing to wait, you can often buy it for less.

    What the mint should do is limit the orders to one per household during the first 24 hours. After that open it up to unlimited numbers. Why does one household need five sets if the collector is buying for his or her collection? Search me.
    Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?

Leave a Comment

BoldItalicStrikethroughOrdered listUnordered list
Align leftAlign centerAlign rightToggle HTML viewToggle full pageToggle lights
Drop image/file
You can use Markdown in your post.