Comments on: 1964-2014 Kennedy Gold Coin to Start at $1,240

By: JesustheLionofJudah

JesustheLionofJudah — Sat, 02 Aug 2014 22:48:11 +0000

Hey Johnny, it took some time for the UHR to appreciate in value, but you also forget that gold price was a key contributor to the rise; gold was about 800 an ounce at the time of the UHR and now it’s 1300 almost. So there’s 500 of the increase there (and you’re also talking about a perfect graded coin, for the raw coin the issue price was 1200 and ungraded the coin fetches about 2100-2200 now (adjusted for gold increase that’s only 1600-1700, which is not much on a gold coin on this popularity – if it had been capped at 50,000 they would likely be worth 4,000 by now ungraded and 6000 in ms70), but that aside, it is the only mint to demand product that has risen. Generally speaking MTD (mint to demand) is a detriment to both the US Mint sales and the collectors and investors alike.

By: Lee

Lee — Fri, 01 Aug 2014 12:52:16 +0000

Johnny, wouldn’t you have to find some sucker to pay that much? Especially when it can be had at $1240? I saw several on advanced sale for over $3000 advertised as PF70 First Strike. How can they be sure they can fill the order when they don’t have them in hand yet? Or, do you have some way of buying these things ahead of everyone else?

By: Johnny U

Johnny U — Fri, 01 Aug 2014 12:24:44 +0000

Ultra high relief Gold coin was mint to demand. I’m feeling real good with my 70 being worth over $3000.00 while I paid just under $1200.00

By: JesustheLionofJudah

JesustheLionofJudah — Fri, 01 Aug 2014 04:17:05 +0000

Anyone who thinks a mintage limit is bad, take a look at the resale price of all the mint to demand products offered by the Mint on Ebay. They sell for right at what they were offered at.
When you buy stocks or coins or whatever, do you say, “Gee, I so hope this goes down in value or at least never increases in value!” NO!
You say, “What a great purchase – these will definitely be worth more later! Hallelujah!”

The point is, whatever you buy in collectibles, the only reason people buy it is because they believe it will be worth more later. That’s why it is COLLECTIBLE. The reason why people collect crystals and minerals and not sand is because sand can be had by anyone and is worthless but crystals and minerals are hard to find and are rare, so they are worth something. IT IS GOOD FOR THINGS TO INCREASE IN VALUE AND BE RARE.

Making a profit is a GOOD thing.

Do you want to pass on a bunch of mint to demand trash to your children and children’s children and then they go to sell it and it’s worth the same as you paid for it (or less because of inflation) or do you want them to obtain things of value that have increased in value?

Mint to demand, if allowed to continue, will ultimately cause coin collecting to cease (at least with modern coins) because no one will want it – the 2ndary market is what causes coins to be valuable. No 2ndary market, no value.

Don’t believe me? Look at the sales and values of the entire First Spouse line. Once the Mint cracked and bowed down to the throng of complainers and whiners and caused the limit to be 1, down from 5, the 2ndary market for the coins collapsed, and the US Mint STUPIDLY shot itself in the foot; instead of a guaranteed sellout of 40,000 coins with every release, they struggle to barely sell 5-8,000 of them!
How did the Mint make out on those? Looks like they lost about $30,000,000 on EVERY SINGLE COIN after the 1st 4 coins in the series. That’s a loss of sales of about $210,000,000 since 2008. How’d that work out for the 2ndary market? Destroyed it, and the destruction of the 2ndary market destroyed the sales AND value of the coins, so the Mint lost as well.

It’s quite clear, this is just 1 example. The AE Platinum coins and ATB 5 oz coins are other great examples of how these 3 lines taken together will ultimately cost the US Mint a loss of about 500 million dollars in sales at the minimum.

Mint to demand doesn’t work – it destroys coin sales and coin values. Limited mintages and 1st come, 1st serve is the only thing that works; just like buying stocks or any type of collectible.

By: JOE #2

JOE #2 — Thu, 31 Jul 2014 15:20:31 +0000

I just got a message that the U.S. Mint will cut back to a limit of 1 gold kennedy at the Show in Ill.Smart move in my opinion …

By: RonnieBGood

RonnieBGood — Thu, 31 Jul 2014 13:13:13 +0000

I think we all agree that a Mintage Limit is preferable.

By: Wdg5

Wdg5 — Thu, 31 Jul 2014 04:41:39 +0000

@JTKJ so that the hoarders do not block the front of the line with orders of 10000, avoiding making the average collector wait for months to get his 1 coin, that’s why!

By: JesustheLionofJudah

JesustheLionofJudah — Thu, 31 Jul 2014 04:20:42 +0000

But if there were an unlimited mintage they can’t flip it anyway, so the hh limit must mean there is a max mintage.

By: RonnieBGood

RonnieBGood — Thu, 31 Jul 2014 03:52:09 +0000

It will be $6,200 for the 5 coin household limit. I doubt there will be many households that can order to this limit. What this does is make it difficult for dealers/flippers to hoard the coin.

By: JesustheLionofJudah

JesustheLionofJudah — Thu, 31 Jul 2014 03:34:01 +0000

Hey Mike, Curt raises a valid point: if the mintage is purportedly unlimited (which is always the way to render a coin worth no more than its issue price…) then why would there be a limit of 5? There must be a maximum mintage.