JFK Gold Coins Score First-Day Sales of 56,694; Hitting $70.3M

by Mike Unser on August 6, 2014 · 12 comments

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-day sales of the gold coin celebrating the 50th anniversary of the Kennedy half-dollar reached 56,694 units, or $70.3 million, the United States Mint announced Wednesday morning. The U.S. Mint earlier said that it would have 40,000 coins readied for delivery on opening day.

Featuring a restored 1964 portrait of John F. Kennedy, the 24-karat gold coin launched at noon ET on Tuesday at an issue price of $1,240.

Stories on the web and local news outlets relayed huge lines for those waiting to pick coins up in person. Most talked about, the first four to buy gold Kennedy half-dollars at the national ANA money convention in Chicago were offered $5,000 per coin for a total of $20,000, plus replacements.

In-person purchases are open at four locations across the United States, and are limited to one JFK gold coin per person. Online and call center options — www.usmint.gov/catalog and 1-800-USA-MINT (872-6468) — have a higher limit of five JFK gold coins per household. First-day sales splits across the ordering sites totaled:

  • 2014 ANA World’s Fair of Money in Rosemont, Illinois – 493 coins
  • Retail Shop at U.S. Mint in Philadelphia – 500 coins
  • Retail Shop at U.S. Mint in Denver – 500 coins
  • Retail Shop at U.S. Mint Headquarters in Washington, DC – 376 coins
  • Online/Call Centers – 54,825 coins

For some interesting articles that offer photos/videos of people waiting in line — in some cases for over 12 hours, check out CBS Denver, Philly.com and Numismatic News for the ANA show. Long lines were again reported on Wednesday.

Purchasing from the U.S. Mint website and call center are hassle free following waiting times earlier yesterday, but those placing new orders today will likely have to wait several weeks before their coins are delivered.

{ 12 comments… read them below or add one }

Boz August 6, 2014 at 12:39 pm

Why 493 at Chicago. Did y people send their coins back already?

stinky August 6, 2014 at 12:51 pm

It’s the US Mint, they have a difficult time with counting.

Larry Ramos August 6, 2014 at 12:56 pm

I went to Chicago from MI trying to get a coin but couldn’t because they were sold out by 0800 on the very first day. Some dealers are paying bus loads of people 1000 to stand in line all week for them. then they give them the money to buy the coin before they get to the counter. Why can’t the US mint make sure that everyone in line has a USmint account. And they are buying ONLY the limit at the coin show? The US mint ignores the limit that they imposed and we the people get shafted by the greedy dealers. All I got for my troubles and coin collection was two sets of Kennedy clads.

Boz August 6, 2014 at 12:57 pm

I figured 7 buyers went over to NGC for grading, and when they didn’t got a 70, they cried and begged to get their money back.

Boz August 6, 2014 at 12:59 pm

Larry, you still scored good. Clad Kennedy’s are on Coin Vault for $400-999. You should be thankful you made so much money for such a short drive.

Victor DeCurtis August 6, 2014 at 1:52 pm

I noticed the label say, “First Coin Sold Chicago” and has a grade of PF-70. I have a feeling, most will grade, PF-70.

kennygee August 6, 2014 at 3:30 pm

I read that the first 4 sold in Chicago were bought by Coin Vault and were graded pf 70. The fifth and sixth were graded pf 69. Gee, I wonder how it is that they have such good luck.

Tom August 6, 2014 at 5:02 pm

I have no faith in any of the grading companies, from my experience they lean toward the dealer and will grade 70’s more often for dealers than the everyday collector. It’s all about money, and not collecting.

Brian August 7, 2014 at 12:14 pm

The dealer who purchased the 1st four for $20k already flipped them for $30K!!! I guess there’s a sucker born every minute. Dealers are having coins shipped over-night from other US Mint locations to Chicago to try and get the Chicago ANA label. Silver Towne is one of the 2 dealers hiring busloads of people to stand in line every day for them. I heard they paid $1000 per person to stand in line each day of the show. I say boycott SivlerTowne for their unethical practices!!!!!

Victor DeCurtis August 7, 2014 at 7:43 pm

“The Coin Vault” has several 4 coin sets, one from each point of sale, graded, PF-70 UCAM NGC First day of Sale, for $19,995 plus $9.95 S&H. Wow!

Robert August 9, 2014 at 2:57 am

The Coin Vault GUY Should BE In JAIL…. 3 Times I Purchased Coin SETS FROM Him That Was Graded 70 EACH’ Time I Had TO RETURN Them, ALL 3 SETS HAD SCRATCH MARKS ON THEM…!!!!

Jeff August 11, 2014 at 3:17 pm

This may be a portent of disillusionment with this issue. Today (8/11/14) the Mint’s website indicated the Kennedy golds will be available for shipping 8/12/14. If there were 61,700 sold the first 2 days, and the mint is going to produce 6000 more per week, then the expectation for a coin ordered today would be a mid-September shipping date. Until this morning, the expected shipping date was 9/15/14.
As further evidence, I missed the initial distribution (my order was may at 2PM EDT), but by Friday my order changed from backordered to in stock and reserved. If this is accurate then there must have been massive cancelations. We shall see with the tuesday sales report through 8/10. If true, then the Mint may decide to limit sales if the demand has indeed dropped off. And the way gold prices are trending, it looks like the the price will tick up to $1277.50 on wednesday.

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