First Coin Sold - Are Prices Going Down?

Zoins · October 12, 2014 2:59AM

Recently the first JFK Gold coin sold went for $100,000.

Back in 1892 the first Columbian Half sold for $10,000. Using an inflation calculator which starts in 1913, $10,000 in 1913 would be $240,255 in 2014, and likely higher given that this was sold in 1892.

So, if the JFK went for $100,000 in 2014, and the Columbian Half went for the equivalent of $240,000 in 2014 dollars (using the 1913 start date), did we see a big deflation in first coin values?

BWCoin · October 12, 2014 3:04AM

I think your logic is wrong

commoncents05 · October 12, 2014 3:04AM

Big difference between the first coin struck and the first coin sold.

-Paul

Zoins · October 12, 2014 3:06AM

<< <i>I think your logic is wrong >>

Which part?

Zoins · October 12, 2014 3:06AM

<< <i>Big difference between the first coin struck and the first coin sold.

-Paul >>

Well, it appears they may both be "first sold" but one is also "first struck". So perhaps First Sold is $100,000 and the First Strike premium is $140,000?

Zoins · October 12, 2014 3:15AM

Update - this alternate inflation calculator starts in 1800 and indicates $10,000 in 1892 would be worth $255,408.47 in 2013.

Makes sense that First Strike + First Sold would be more than First Sold only so perhaps things haven't changed very much in 120+ years?

410a · October 12, 2014 3:26AM

Many times marketing and logic aren't readily apparent.

ricko · October 12, 2014 4:38AM

Often, logic does not apply to realized coin prices......Cheers, RickO

Boosibri · October 12, 2014 4:40AM

The prices went down the second the checks were cashed

Treashunt · October 12, 2014 9:01PM

Logic has nothing to do with the JFK gold pieces.

BillJones · October 12, 2014 10:21PM

The motivations of the buyers for the first struck 1892 Columbian half dollar and the first gold Kennedy coin that was sold were totally different. The Remington Typewriter Company bought the first Columbian coin as a publicity stunt and as a contribution to the funding of the Columbian Exposition. Collector value had nothing to do with it.

The buyer of the first gold Kennedy, if he or she indeed existed, was doing so as a result of a collectors' interest. If that sale was in fact a hoax, then I suppose that you could say that it was for publicity too, but of a far less savory kind.

CoinZip · October 12, 2014 10:29PM

Thank you for the link to the Columbian Half information.

I can't help but wonder how much that 1st struck Columbian Half would sell for today if it was offered at one of the big auction houses.......

Coinosaurus · October 12, 2014 11:23PM

You can not compare the Chicago's World's Fair with the Chicago (er, Rosemont) ANA. The 1892-3 World's Fair was HUGE, everyone in the world (western world, at least) knew about it and millions attended. As for the ANA, maybe 1% of the population in Chicago even heard of it? Well, perhaps a few more as a result of the gold Kennedy fiasco.

FullStrike · October 13, 2014 6:01AM

The buyer of that $100K Kennedy ought to set up a clown dunk tank at the next ANA Convention. If he charges $5 per throw
he might make his money back in a few years.

bestday · October 13, 2014 3:07PM

<< <i>The buyer of that $100K Kennedy ought to set up a clown dunk tank at the next ANA Convention. If he charges $5 per throw
he might make his money back in a few years.

I

>>

I think the first coins sold nonsense, just a publicity stunt to gin up sales , interest in the gold Kennedys ...by someone still holding a lot of gold kennedys

Those holding the gold Kennedys waiting for prices to back up .. may wait a long time

ambro51 · October 13, 2014 8:46PM

Amazing that same dumb azz buyer had such a long lifespan

First Coin Sold - Are Prices Going Down?

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