the Mint is selling the new Kennedy coins at the Chicago show and at Mint sites across the US. Huge lines with thousands of people are reported at all the sites. The ones at the Chicago site are going to be graded with a special label by both PCGS and NGC.
No summer slowdown folks. In fact, the 30 day coin cert rate is 184K+. We are trending between 25%-33% above last year at this time depending on the day. The Sep quarter always sees some cash burn. If the trend continues, will be cash flow positive this quarter
PCGS Certifies First Six Gold Proof Kennedy Half Dollars
August 5, 2014 By Coin Update
Professional Coin Grading Service (PCGS) has certified the first six dual-dated 1964-2014 Gold Proof Kennedy Half Dollars sold on the opening morning of the American Numismatic Association 2014 Chicago World’s Fair of MoneySM. The first four were each graded PCGS PR70 DCAM, and the other two were graded PCGS PR69 DCAM. PCGS also is receiving submissions of other gold Kennedy proof half dollars purchased by determined buyers.
The first coin was bought for $5K ($1240 was original cost) and replaced with another coin. The first coin was later resold for $100,000.
There were so many fights and riots at the show, the Mint stopped sales of the coins. Fights. Riots. At a coin show
First four gold Kennedys go for $20,000
Posted on August 5, 2014 by Dave Harper
If you could earn $20,000 by waiting all night outside the convention center hosting the American Numismatic Association’s World Fair of Money in Rosemont, Ill., you would probably do it.
That’s the value of being first in line to buy the proof gold Kennedy half dollars that the Mint was to put on sale at the show at 11 a.m. central time.
Waiting in line was simply the first step of a gauntlet of requirements, but it was something that Nick Yadgarov, a coin collector from Los Angeles willingly did. He was accompanied by his girlfriend, Callie Hohlfeld, his sister Rina Maya and his brother Daniel Yadgarov.
The four showed up at the main entrance of the Donald E. Stephens Convention Center at 11 p.m. Aug. 4, the night before the coins were to go on sale. They obtained the coveted first four places in a line that ultimately stretched a couple of blocks down River Road. That was the first step to obtain the gold coins.
The line of people was to be admitted to a holding area outside the bourse room of the convention center. In this holding area at approximately 10:30 a.m. the Mint was to give out tickets entitling the bearer to buy one of the proof gold Kennedy halves.
Only 500 tickets were to be given out on the first day of sales. Crowd estimates by the Rosemont police and others put the number waiting in line at around 1,100 persons.
Dealer Bob Campbell of Salt Lake City, Utah, estimated that as many as three-quarters of the people in line had been bused in by dealers who had hired them for $100 or $200 apiece to make the purchases for them.
There was no way to confirm, that, but what could be confirmed was that many of the people in line did not have the proper credentials to be admitted to the bourse floor where the U.S. Mint booth was located. That offered hope to those toward the end who did have convention credentials.
All marketing hype that has inflated the price of new releases and floods the market with (s#$%$ coins. Just like baseball cards, beenie babies and stamps these promo items will be nothing special and near worthless after six months to a year, with the owner wondering why he can't fund his retirement on the first issued coin.