Seeing is believing. There was crazy-like gold fever in the air last week. The U.S. Mint’s suspension of in-person purchases of 1964-2014 50c Kennedy gold coins became clearer after watching TV footage of people running toward the retail shop at the U.S. Mint in Denver.
Video from Denver’s ABC affiliate KMGH-TV shows a mad dash on Thursday morning with people tripping and falling in the rush to get a ticket to buy one. Later in the day, the United States Mint halted in-person sales of the 50-cent gold pieces to "ensure the safety of those wanting to purchase the coin and the safety of its own employees."
Struck in 99.99% pure gold to celebrate the 50th anniversary of the Kennedy half-dollar, the special dual-dated gold coin launched last Tuesday, Aug. 5, for $1,240. Sales across U.S. Mint channels on the first day combined to 56,694. They moved up to 61,700 by the second day. At that time, in-person purchases were restricted to one. There was another limit of how many were allotted for sale each day at the ANA money show in Illinois and at U.S. Mint retail locations in Denver, Philadelphia and Washington, D.C.
1964-2014 Kennedy gold coins from the U.S. Mint remain available online at www.usmint.gov/catalog and via 1-800-USA-MINT (872-6468). There is a limit of 5 coins per household.
Return to CoinNews.net on Tuesday for a fresh set of sales figures.
There just giving them away
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Has anyone who ordered on the internet the day of the sale received their Kennedy gold coin yet? I have not and the mint has changed the date of my shipment anywhere from Aug 5 to Sept 15 to Aug 15, 31, 18 and now the 11th. The mint is so screwed up they have sent me (within the past week) two emails; one telling me I will not get my uncirculated HOF coin, then on Monday I received an email telling me my ship date is expected Aug 31. I received the Proof version of that coin a long… Read more »
I am not at all impressed with the non exclusivity of these gold coins. I would hope the silver set would be different. To me they took the special out of these coins. And that’s just my opinion.
I was so excited for this coin until I saw there was no mintage limit or time frame limit. That killed it for me. Sad.
I agree. I said several weeks ago that the mint should commit to a mintage limit. I knew they would sell out the original 40k (they supposedly produced), but the excitement for this coin will wane quickly when there are no limitations on how many or for how long? Whats that all about?
I think there decision was clearly about the profit for the mint. Had nothing to do with hobbyists or collectors.
I have to disagree with those who want a mintage limit. I sincerely hope that everyone who wants one, gets one! I am not interested in bragging rights and I don’t collect for profit. I collect for the joy of having one in my collection. I’ll bet I am in the minority because I am neither greedy, nor profit motivated. I invest my money elsewhere. If you don’t like the price or the fact that the mint is making a profit, then speak your voice with your pocket book. Don’t buy any. The rest of us will enjoy our coins… Read more »
Looking at the folks (some very young kids) making the dash really makes me think, do all of these people have $1240 for a coin? Not to judge but how did they hear about the release date, what makes THIS coin so special to them, what do they plan to get out of the purchase, etc??
Seriously, were ALL of these folks ready with their $1240 in hand to buy? Am I the only one thinking this? Can you “sell” your placeholder ticket to someone else or something?
Kenneth I agree with you 100%, I’m a collector not a flipper or investor, if it increases in value so be it . if not so be it . I have one in my collection. PMPNC. These people were paid to get those tickets. If you watched the video you could hear one man shout ” I.m going to Disney Land”. That was his payout.
tim thumb….that explains it and makes sense, thank you.
why pay someone when you can purchase directly from the mint? It is just an accumulation tactic (i.e. get as many as you physically can right this minute)?
@Kenneth – Oh please stop with the false modesty about your collecting. Whether you are a hobbyist, collector or investor, each person would like (at some point) to be able to exchange that coin when its at the peak of its value or when an opportunity avails itself to give it up. We all enjoy collecting for different reasons. Some of us just like rare or low mintage commemorative coins. So even if you keep your coin for 30 years and pass it on to your children who would keep it for another 30+, at some point, you/they would consider… Read more »
Colec, I agree with you. Kenneth, I too am a collector of coins. But… I always wish my collection to gain in value. I have coins that were given to me from my parents and found and saved from when I was young. Most of those coins are “just fine”, and they mark a time in life but a worn Indian Head penny is really only worth a penny, and that’s OK with me. I buy coins now from the Mint, coin shops, on line , for something special I am looking for to add to my collection, but also… Read more »
You’ve all brought valid points, Kenneth included. Having collected for 45 years, I personally have been a fan of both a modest mintage limit, such as we saw with the HOF BB gold (50,000) or a 4-week ordering window. My sense is, for those who truly want one, they’ll order it in the first few weeks. After that, sales drop off dramatically. But a limit does give us at least the veil of something that won’t be available at that price for any length of time. So, yeah, it’s a little more special. Methinks that the Kennedy gold will ultimately… Read more »
Colec, no false modesty here. I wrote what I believe and feel. Tom Thumb, we see it exactly the same! JP, like you, my coin collection is going to my son. Coin collecting is one of the joys we are lucky enough share! My expectation is that this coin will remain popular for a long time. I wonder, will a set of Kennedy Halves be considered complete if it does not include this coin? Gold is, after all, not the traditional metal for a half dollar. At least for now (until the mint produces one or more of these coins… Read more »
Kenneth – I have no issues with all of whom would like to have this gold edition Kennedy Coin, while having fun, sharing and teaching your children. It is definitely unique in the choice of metal used. And my personal view is that because its unique in metal, it would have been great to be carried over in mintage, so that its not just an exclusive piece but also has great value. And I think its safe to say, that there maybe a lot of people who would or have also wished the same. At some point, people would love… Read more »
I think the Mint was trying to have create some collector fun and energy by making them available as they did but the organized greed factor ruined it.