2014 Kennedy Gold Coin Sales at 62,341; Price Increase Likely

by Mike Unser on August 12, 2014 · 16 comments

1964-2014 Proof 50th Anniversary Kennedy Half-Dollar Gold Coin

1964-2014 Proof 50th Anniversary Kennedy Gold Coin

New U.S. Mint figures show how many dual-dated 1964-2014 Proof 50th Anniversary Kennedy Half-Dollar Gold Coins have sold. And on a related note, its price and that of other U.S. Mint gold coins are poised to rise on Wednesday.

Let’s discuss updated sales before getting into likely pricing changes. The anniversary 50-cent piece with its restored portrait of John F. Kennedy launched on Aug. 5, 2014. It scored first-day sales of 56,694. Another 5,006 sold on the second day, lifting sales to 61,700. Usually product sales slow further into a release, and that certainly happened here but, I think, to a larger degree than expected. United States Mint sales data through Sunday, Aug. 10, have Kennedy halves up only 641 to 62,341.

Coin News Update: As expected and described below, the U.S. Mint on Wednesday raised prices on its gold coins.

Returning to coin prices, Wednesdays are when the U.S. Mint averages recent London gold Fix prices to decide if there’s the need to raise or lower its product pricing. Struck in three-quarters of a troy ounce of .9999 fine gold, the starting price for the special 50th anniversary Kennedy half-dollar was based on a gold average that fell within the $1,250.00 to $1,299.99 range. The precious metal has since moved comfortably higher and during a sustained number of days.

In cutting to the chase, as long as Wednesday’s PM gold fixing stays above $1,299.99 an ounce — the price is near $1,309 an ounce now, expect these prices for the Kennedy gold coin and other gold products.

Numismatic Gold Coin Products From To
2014-W Gold Kennedy Half-Dollar Gold Coin $1,240 $1,277.50
2014-W Proof American Gold Buffalo Coin $1,640.00 $1,690.00
2014-W Uncirculated American Eagle Gold Coin (1 oz) $1,575.00 $1,625.00
2014-W Proof American Eagle Gold Coin (1 oz) $1,610.00 $1,660.00
2014-W Proof American Eagle Gold Coin (1/2 oz) $820.00 $845.00
2014-W Proof American Eagle Gold Coin (1/4 oz) $422.50 $435.50
2014-W Proof American Eagle Gold Coin (1/10 oz) $180.00 $185.00
2014-W Proof Gold Eagle Four-Coin Set $2,982.50 $3,075.00
2013-W Proof First Spouse Gold Coins $840.00 $865.00
2013-W Uncirculated First Spouse Gold Coins $820.00 $845.00

 

2013 First Spouse Gold Coins include the 10 uncirculated and proof coins honoring former first ladies Edith Roosevelt, Ida McKinley, Edith Wilson, Ellen Wilson, and Helen Taft. The available 4 uncirculated and proof 2014 First Spouse Gold Coins honor former first ladies Florence Harding and Grace Coolidge. These coins are available at www.usmint.gov/catalog.

If pricing changes are needed, the U.S. Mint tends to suspend ordering of the affected products for around 30 minutes until new prices are entered and verified. Pricing adjustments often happen near 12 noon ET. United States Mint products may be ordered from www.usmint.gov/catalog.

{ 16 comments… read them below or add one }

JesustheLionofJudah August 12, 2014 at 10:10 pm

Let there be a cap on the mintage now…70,000.

Jeff August 12, 2014 at 10:45 pm

The mint has made statements that they have on hand enough raw material to make 75,000 gold JFKs. The mint also stated they would evaluate weekly sales to determine what that final number would be. The price will go up (to stay at $1240 the Wednesday gold morning fix would need to plunge to $1223 and the afternoon fix would have to be under $1300) to $1277.50. The 62,341 sales number may represent a significant cancelation factor, since intraweek cancelations aren’t reported. Taken together, it seems doubtful to me that the 75,000 number will be reached and 70,000 may even be a bit of a reach. We’ll know more next week at this time, and maybe so will the mint.

Kyoungwon August 13, 2014 at 9:46 am

It isn’t high in scarcity value…

Mike August 13, 2014 at 4:59 pm

Glad I bought mine the first hour they went on sale.

Jeff August 13, 2014 at 6:21 pm

Remember, there is a difference between scarcity and rarity. Many of the modern commemorative gold coins, particularly the uncirculated business strikes, have less than 10,000 pieces, which would put them in the ‘rare’ category. Yet there are always specimens for sale on ebay and through dealers, making them not scarce, but readily obtainable, and thus their resale values are not much above melt value. In the case of the Kennedy golds, if everyone who wants one buys and keeps it, then the secondary market will seldom see them offered and they will be considered scarce, regardless of how many are actually produced. Hope this helps.

Roy August 14, 2014 at 5:53 am

Does anyone know anything about the delay in shipping for those that purchased online in the first hour? I called and was told they need to scrub the orders before they can ship to ensure more than one order was not placed per household.

art August 14, 2014 at 12:28 pm

I order mine at 12:29 at opening day and they just ship my order today.

Roy August 14, 2014 at 12:45 pm

My order is still sitting and I ordered just before 1pm on the 5th. Guess I will just have to be patient!

RonnieBGood August 14, 2014 at 1:21 pm

Got Mine Today! Just Beautiful !!

Joe33 August 14, 2014 at 2:56 pm

Order in at 12:24, received today Aug 14.

Lee August 15, 2014 at 3:26 pm

12:03 is stamped on my order. But no way for the average guy to a First Day of Sale tag. Has anyone seen any of the coins on EBAY actually sell? PF70 are listed at or about $3600, and PF69 at $1800- $1900. I haven’t hung around long enough to see a bid higher than the $1400 dollar range.

FreeThinker August 17, 2014 at 8:42 am

The ANA/Chicago 70 first strike PCGS/NGCs have bids in the $2500 to $3000 range, but what I find interesting is that a few bidders are driving up the price, which is a telltale sign of pumping by faux bidders. Ebay is notorious for this. Buyer beware! A week ago these same coins were going for $3500 to $4500, so the prices are coming down.

Mike August 17, 2014 at 12:16 pm

I have some extra HOF silver dollars proof and uncirculated if anyone is interested.

Jeff August 17, 2014 at 12:42 pm

I would expect to see more 70s than 69s, based on the nearest comparable coin ($50 Proof gold Buffalo). Both PCGS and NCG have graded far and away more of these at 70 than 69. The Kennedys are similar, though slightly smaller diameter and thinner, to the Buffalos. There should be no significant premium for these based on populations (though it may be a penalty for a 69 grade, which would be the same effect) and coupled with the ‘mint to demand’ quantities, prices should settle out just a bit above melt over time, and possibly may even be below initial cost, sad to say. Paying a premium for the first coin sold at a given location is absolutely insane and even sending them to TPGs make very little sense. Most should be ‘perfect’ or near perfect, and if you aren’t happy with the coin, it can be returned to the mint, so sub-standard (PF-68?) coins can be culled.
Looking forward to sales figure on Tuesday. That should be a good indication of where this issue is going.
BTW, my order was placed at 2PM on 8/5 and on 8/17/14 it shipped. While the website did have ship dates of 8/10 and 8/15 for new orders on Monday, it was back to 9/15 on Tuesday.
@Roy – because of the extreme limits and the conditions placed on those limits, the mint has to really go through all the orders, not just for name, but also for address. At 5 per address, that will add a few days to the initial order backlog. There will probably be future delays until such time as household limits are increased or removed, to ensure someone (dealers?) aren’t ordering 5 this month, and 5 in September, and 5 more in October, etc.

Jeff August 19, 2014 at 6:16 pm

So, here it is two weeks after launch, and sales through August 17 have really flattened out at 63,521. That represents 1180 additional coins, and may represent an incentive to buy before last Wednesday’s price increase. LBMA fixes will keep the price at $1277.50 for another week, possibly contributing to continued weak sales. At this rate, the 75,000 mark would take us into mid-November, but I suspect that sales will terminate sooner. Depends on when the 4 coin set is offered.
And how’s this for lack of interest. Just watched an ebay auction for 3 coins at $3800 opening bid expire with no bids. That’s less than what it costs right now from the mint and delivery would be at least 2 weeks sooner than the mint could offer.

John August 21, 2014 at 7:26 am

I’ll buy secondary buffalo pf70 with 1/4 more gold and a mintage of 18,000 for the same price.

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