Total Insanity At ANA

As reported by the US Mint blog., the first 6 coins sold at Chicago will get a special label stating that. This by no means mean that they were the first 6 coins minted, I wonder what someone will pay for them "labels" ?

http://mintnewsblog.com/2014/08/opening-day-jfk-gold-coin-sales-reach-56694/

 

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They could unleash their stooges direct on the Mint to get around the limits, it's the same thing.

 

You're both wrong. They could hold it in the back seat of a Volkswagen Bug.

 

Man... sure hope no one on CT was in this:
http://www.numismaticnews.net/article/news/general/its-one-rocking-coin-show

By earplugs everybody.

 

I totally agree with this thought, I hope that a few of the dealers paying up for these coins get burned. They might learn there lesson, or not !

This is the first time that I have heard of a special label for "First Coins Sold" ~ lol. Shame on these graders, I wonder if the dealers are paying extra for such a label. nonsense

 

I used to hate dealers that did this kind of thing, but my attitude is changing.
I still don't like the fact that the mint seems to be catering to the big guys before taking care of the average collector. What I don't have a problem with is dealers that go after these early and first labels. I know if I was a dealer and I had customers that are willing to pay the price, I'd make sure I had the product they want and if I didn't have it, I go through hell and high water to get it for them. Those dealers are not creating that kind of market, just taking advantage of it. As I see it, there's nothing wrong with that.

 

I looked at the pictures of the long lines submitted by our members here and see nothing but strong publicity for the enjoyment of our hobby. Whether this is positive or negative, it is up to the individual to decide.

Personally, I would never attend such an event. It is not my cup of tea. Nonetheless, I do plan to purchase one coin. In the middle of the night, I added the gold coin to my US Mint wish list which also contains the high relief clads, an Arches S-mintmarked quarter roll and a few other sets for a nice combination purchase. When I do order the coin and the box of numismatic goodies comes in the mail, I will open the box and probably say, "Oh my! That's beautiful." I have not purchased a gold coin since 1989.

The Kennedy half dollar was very much talked about when I was a little boy in 1964. Public demand was extremely high. The mintage figures alone for 1964 exceed all half dollars minted combined since 1796. It was the 1964 coin that probably did more for my initial exposure to coins than any other except my all time favorite, the wheat cent. You could buy a piece of candy for one cent 50 years ago, out of a bubblegum machine or a candy cigar.

The 1964 half dollars were widely talked about, both hoarded and circulated, commemorating a fallen leader and representing the end of era, the near end of circulating precious metal. I received many 1964-1969 silver and silver clads as gifts in my childhood.

It is nice to see the excitement for the gold Kennedy half. Good memories.

 

I have never hated dealers catering to a demand. Hey, if there is a buck to be made, more power to them. So while I find it silly to collect special labels like early release or ANA convention, I have never, ever begrudged a dealer from acquiring them to sell to willing customers. My only problem with this entire episode, just like the 2011 ASE sets, was dealers intentionally bypassing order limits and hiring people to order for them. I simply feel that is not making a fair buck, but simply robbing collectors of a chance to obtain this on their own.

Just my opinion.

 

Well, I have decided that I don't give a crap about the line, etc. I ordered two online this morning. But the asst director told me that the biggest delay will be the packaging. Takes two months to get the boxes and they have a big order coming but I don't think enough to mail current orders hence the later mailing dates.

 

Collectors had the same shot as any other person to get one. It depends on how early you line up. The big dealers just had a lot more people on their side, so had a lot better chance to get multiple. The dealer I talked to paid over 150 people to stand in line, and ended up with 80 or 90 the last I talked to him. So some of his buyers did not get one for him, just like some collectors showed up too late as well. Collectors need to realize what they are up against, and show up very early if you want one. We barely made it in time at 5:30.

 

Oh, well, that's different, then. As a dedicated and enthusiastic wooden-box collector, I'd be horrified to think that people were getting impatient just because they wanted their shiny metal tokens.

Even if the boxes and other packaging cost the Mint $5 each, they could save a good six figures by just providing a "don't bother with the landfill fodder" checkbox on the order form. With all the uproar about getting these coins out of their boxes and into super-special early-release slabs, who do they think they're kidding?

 

That doesn't follow. Collectors can get in line at the ANA Convention or online at the U.S. Mint, just like everybody else. I'll tell you what strikes me as worse than these people stooging for these dealers, it's that this hobby we affectionally like to call an "addiction" is indeed a sickness, now, it's pathological.

 

"Gold Kennedy half dollars: First four in line get an offer for $20,000 from two dealers". http://www.coinworld.com/news/first...ld-kennedy-half-dollars-from-los-angeles.html

Headlines like this create an unhealthy gambling atmosphere to what was once a healthy, historical, gentleman's hobby. Anytime someone tries to routinely make more than 20% on their sales in this and other collectibles businesses, an unhealthy trend is fueled.

Not as bad as the black Friday shoppers after Thanksgiving with all the pushing and shoving, though.

 

Curious, if you attended the PNG show, could you preregister for the ANA show there? I don't think so but I'm not sure.

 

It looks like you do not have to be at the show to get the special ana label just take the one you purchased from one of the other mint retail outlet locations and overnight it to the show.

http://beta.money.org/blog/category/worlds-fair-of-money

 

This is the quote !

I doubt it! I predict, though they likely will not show it, that the grading services are going to encapsulate more of the first day of release from the ANA Show than the mint is selling. At this point, it will be easier and much more affordable to go or have someone go to the other mints for you to buy 5 and then take them or send them to the show! And you can do this several times in this overnight delivery world we live in! (This is the opinion of the author and not necessarily that of the ANA, its officers, its governors or its employees)

 

Grading companies are requiring receipt showing you bought from the show

 

This is why us small collectors can not get some of the coins ,like the 2014 HOF. They were sold out before you can get a chance. not everybody has 50 or 60 bucks in the middle of the month. Then I see them on ebay for twice the price , because people brag they have a 100 or 200 to sell.

 

It's sort of a brutal truth of coin collecting: if you want expensive coins, you have to have money (or, in some cases, luck). Most of these coins are announced well in advance, giving plenty of time to "save up".