First Four Kennedy Gold Coins Sell for $20K, PCGS Certifies First Six

by CoinNews.net on August 5, 2014 · 14 comments

Today was abuzz with stories about newly released Kennedy gold coins, the premium collectibles sold by the United States Mint to commemorate the 50th anniversary of the Kennedy half-dollar.

Nick Yadgarov, Callie Hohlfeld, Daniel Yadgarov

Nick Yadgarov, Callie Hohlfeld and Daniel Yadgarov of Los Angeles hold the first three 1964-2014 proof gold Kennedy half dollars sold at the ANA World’s Fair of Money. (Photo by Donn Pearlman.)

Collectors spent a good deal of time waiting to place their order online and by phone, but many waited much longer to pick them up in person. No one had more patience than Nick Yadgarov, Callie Hohlfeld, Daniel Yadgarov and Rina Maya. They were the first people in the blocks-long line outside the Donald E. Stephens Convention Center, waiting 12 hours to buy dual-dated 1964-2014 Proof 50th Anniversary Kennedy Half-Dollar Gold Coins at the ANA 2014 Chicago World’s Fair of Money.

Their fortitude paid off as they also enjoyed the windfall of owning the first PCGS-certified Kennedy gold coins. News accounts relay how the four accepted an offer of $20,000 for their coins, plus four more gold half-dollars as replacements.

First Chicago Kennedy Gold Coin PCGS PR70 DCAM

The first dual-dated proof gold Kennedy half dollar sold by the United States Mint at the 2014 Chicago ANA World’s Fair of Money was graded PCGS PR70 Deep Cameo. (Photo by PCGS.)


First Six Chicago Kennedy Gold 50c

PCGS graded the first six proof gold Kennedy half dollars sold by the United States Mint on opening day of the 2014 ANA World’s Fair of Money. (Photo by PCGS.)

The Professional Coin Grading Service (www.PCGS.com) said that it certified the first half-dozen Kennedy gold coins sold at the show with the first four each graded PCGS PR70 DCAM, and the other two graded PCGS PR69 DCAM.

"It is really exciting to see so many collectors interested in purchasing these new coins," said Don Willis, President of PCGS, a division of Collectors Universe, Inc. (NASDAQ: CLCT). "PCGS is happy to have been selected to certify the very first six of the coins sold at the Chicago World’s Fair of Money."

The ANA 2014 Chicago World’s Fair of Money (www.WorldsFairOFMoney.com) will continue through to Saturday, Aug. 9. Each day at the money show the U.S. Mint will offer up to 500 of the gold Kennedy half-dollars.

They may also be purchased at United States Mint retail shops in Philadelphia, Denver and Washington, D.C., plus online at www.usmint.gov/catalog or by phone at 1-800-USA-MINT (872-6468). In-person purchases are limited to 1 coin with a 5-coin household ordering limit in place via online or phone orders. Containing 3/4 troy ounces of 24-karat gold, the special Kennedy coin is available for $1,240.

{ 14 comments… read them below or add one }

Johnny U August 5, 2014 at 9:26 pm

Wait till all the hoopla calms down, and the idiot who paid $5k for 3/4 ounce of gold will see the same 70 for $1600

Corey August 5, 2014 at 11:10 pm

I don’t understand why someone would pay more for the first coin sold. If you ever broke it out of the case, no one would ever know. More importantly, why does it matter? People are funny.

That said, I would totally take advantage and sell as many at a premium as I could.

colec August 6, 2014 at 7:51 am

Simple. People pay over and above because they enjoy exclusivity and being in a class by themselves.

Ben August 6, 2014 at 8:11 am

Kind of funny how the first four coins (sold to a private company/person) graded out as a 70, but the following coins only a 69?

art August 6, 2014 at 8:36 am

I think this grading thing is just a scam. That’s just my opinion my.

SactoMike August 6, 2014 at 9:43 am

Here’s my experience: First, If you’re a collector of the Kennedy series, the coin is a must-own. It’s brilliant. No doubt about that. However, buyer beware: because of the way the Mint has structured sales (no mintage limit to date), this issue will not be rare in any grade. And for those looking for a “first strike” opportunity, unless you were lucky enough to be at the two big coin shows where they were available, or, were able to use lightning-fast Internet connection speed in the first nanosecond of the “waiting room,” forget it. I have a T-1 line at work (with 35mgbs per second speed) got into the waiting room at precisely 8:45 a.m. PDT, and my wait was 75 minutes. When my turn came up, the coins I ordered came with an email confirmation receipt that said “Backordered to Sept. 8.” Translated: the Sept. 8 date is 3 days outside the 30-day requirement that PCGS has for first-strike designation on slabbed coinage and therefore not eligible. I’m not arguing for or against “first strike” or “first issue” designations by these coin grading services, — they are a clever marketing scheme — but those coins are the ones that do command a premium in the aftermarket. Unfortunately, the rest will be trading at or near bullion value.

RonnieBGood August 6, 2014 at 10:00 am

What you are missing is the significance of these coins in the future. 25, 50, 100 years from now these will be the coins trading for 100,000’s of thousands to millions (inflation) of dollars.

Bubba August 6, 2014 at 3:36 pm

First coins sold? What does that mean? They didn’t sell them as they were minted. I am not sure of the significance of having one of the first coins sold.
When you realize that people pay more for this kind of stuff, it is best to stay away from that maket. If you can make money on it that is good, but collecting it when there is that kind of mentalitity, you will probably end up paying too much.

RonnieBGood August 6, 2014 at 4:41 pm

Since the Mint makes no effort to designate the first coins off the money mills will create a way and you have 1st sold and the 1st thirty days sold. It is in fact the US supply & demand business model at work.

Richard Erickson August 6, 2014 at 7:17 pm

We have seen the same thing with the American Eagles. When the POP is low at the beginning Value is up. But as more coins are graded 70 down goes the value. Look at the 93 -94 silver proof the 2006 Rev Proof etc. etc.

Edward Durfee August 6, 2014 at 8:38 pm

Why in the world would anyone pay that amount I do not know. Only wish I could have been the seller. Sold my coin and got one as well. Interestingly, PCGS showed its colors when it grades the first 4 coins PR-70 and then only PR-69 after that. Come on guys, unless they were mishandled, can only four get the top rating?

Richard Edwards August 7, 2014 at 8:09 am

I enjoyed talking to your people at the A..N.A. show, I hope PCGS extends their Sept. 8 cut off date.
Now the problem. why didn’t your staff report the cluster—– that they had there in the line to get the coin, the bib dealers bringing in people the night before and paying them to stay there. all the other dealers knew about this problem and ANA did nothing about it except to say I’am sorry. I will not go to another show like this
one.

rick edwards

Joel August 7, 2014 at 9:39 pm

There’s no way those first four coins were actually 70!!! The grading companies are crooked, and give inflated grades to the big dealers who throw a lot of business their way. If an average collector had submitted them, they would have come back with much lower grades. Shameful

Larry Ramos August 15, 2014 at 2:38 pm

The biggest coin dealers ripped of the coin collecting hobby, Silver town has 44 gold Kennedy’s for sale on Ebay right now. for two days of sales at the coin show? BOYCOTT Silver town. They ripped off the very public that they sell to.

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