Total Insanity At ANA

Only problem is, the Mint would never do that. they know they get a large amount of their sales from dealers, and they don't want to **** them off and maybe drive them away... It ain't gonna happen, as much as we'd love it to.

 

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True, but the mint did slight the dealers/speculators over this promotion. They said although they believe getting around the ordering limits by paying people to stand in line was unethical, they do believe it is not illegal. Being unethical could be just as bad for your business as illegal acts.

 

Exactly! These labels are like Beanie Babies. Granted the above named entities are selling them, but I'd also blame the hucksters that promote them as something special to the suckers.

 

I was one of the first to order. When my order posted, the website and my confirmation page stated that it would ship on 8/5. It still hasn't shipped. It's still processing and still has a cancel box. There is no indication of the charge on my card, either. What gives? Are they taking care of the max orders first then going back to fulfill the orders for one coin? The mint says it adheres to a FIFO policy, but IMO, that's a truckload of cow pies.

 

But you know what??? It has all of US talking about them and the lines got all sorts of news coverage.... That right there is good advertising!

 

There's one easy way for the mint to still do these show releases and prevent the frenzy were seeing. If they bring say 10,000 coins to the show and sell them with no limits you would see the lines decrease dramatically. It's the limited quantity that the mint sells that's causing all the issues.
The only frenzy you'd see would be amongst dealers trying to get their coins slabbed first.

 

The Mint has suspended sales of the Gold Kennedy at both the Worlds Fair of Money as well as their three retail locations, "to ensure the safety of those wanting to purchase the coin and the safety of their own employees."

Wow....that's gonna make a lot of people upset....

 

BKOZAK33 said in another thread:
People got trampled. Unconfirmed muggings. Rosemont police had to babysit all night. I guessing hey were not happy about that.

 

This just in....someone wanted that special label really bad. The first Gold Kennedy sold in Chicago has been resold - for $100,000.

http://www.coinworld.com/news/first...llar-sold-at-ana-show-resells-for-100000.html

"...the collector to whom the Yadgarov coin was sold is a longtime customer who purchases coins over the Coin Vault cable television show, which SilverTowne owns."

And that tells you everything you need to know. Anyone dumb enough to buy off Coin Vault regularly would fit the label collecting type....

 

If he's "special" enough to shell out $100K for this coin, I certainly hope they've given him his own dedicated toll-free number for ordering!

 

The Mint ought to be minting slabs. The way this ANA show is going, I'll bet it wouldn't even have to put coins in them to sell them.

 

Was anyone actually surprised by all of this? If their contractual price for gold planchets decreases, they will just keep minting them forever, ( or 250,000). Due to this, the mint and a TPG will eventually work together and grade and then sell by the mint at graduated prices.

Einstein wouldn't have bought this . Insanity: doing the same thing over and over again and expecting different results." A. Einstein.

 

That's why I said if they really cared (about making sure the coins got a wide distribution to collectors.) They don't.