Gold Kennedys not so hot on Ebay

14 sales so far. prices declining. Looks like you will be able to get one for a little over 1300.00 on the bay.

Gold Kennedy Sales On Ebay

 

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Wow those early buyers are already in a nice hole.

 

In the US coin forum there are many people ordering 5 coins, we will see how that works out.

 

This is the one that gets me

http://www.ebay.com/itm/2014-D-Kenn...80?pt=Coins_US_Individual&hash=item5b01987180

 

BTW, the only one that sold in the $1300s was an auction (why would you auction a brand new coin that the market hasnt fully caught up to yet). I bet that seller feels like an idiot on that one

 

I consider auctioned value to be closer to market value. Apparently the seller thought there would be a frenzy over the coin and people would get into a bidding war. Not the case so far. With that said, because of this sluggish start I think the long term prospects for this coin are actually higher now.

 

It's not gold. It appears that the buyer is buying into the sellers' spiel about the rarity of an MS-69 on an early release label. Five so far at NGC and he didn't mention if any were graded MS-69 at PCGS. I can't image too many have been sent in so far so it is likely many more will get the MS-69 designation.

 

Well I guess the first 4 coins were not a sluggish start. They sold for $20,000.

http://www.numismaticnews.net/article/news/general/first-four-gold-kennedys-go-for-20000

According to the article, the buyer shelling out $20K for the first four coins is associated with the large bullion and coin dealer SilverTowne. Hmm. I can't help but wonder about the integrity of the TPG's.

 

Isn't that about what you would have to pay buying them directly from the Mint?

 

A little bit more. there are about 6 current auctions ending within a couple days all hovering around 1325

 

If there were a tachometer on Kennedy's tombstone, it would be pegged in the red from him spinning so fast.

 

I would imagine more will get the MS69 designation. I don't know how many will also have the 50th Anniversary and Early Release label, but does seem risky to pay so much with such a recently released coin.

As for the dealer, I can't help but read this with the shady Italian mobster accent...

 

Yeah, I think the US Mint has taken all the profit out of the gold Kennedy by not stating the mintage up front. I can't afford one right now but I don't even think I would get one if I could. The US Mint is likely to mint 250 thousand of those coins when all is said and done and that will surely blow most of the interest in the coin out the window. just my 2 cnts.

 

For Kennedy budget collectors wanting a 2014 Gold Kennedy (Gold Plated).

http://www.ebay.com/itm/24K-GOLD-PL...65?pt=Coins_US_Individual&hash=item2ed4d1ccd1

 

That's some poorly informed and misspelled "2 cnts" you got hold of there, the Mint has clearly stated the mintage of the gold Kennedy coins at 50,000 units, which has been known and reiterated all over the numismatic blogs, forums, and publications for the past 4-5 months.

 

When the seller doesn't have the coin in hand, and can't provide a firm delivery date...

...and the Mint is still selling the coin at issue price ($1240)...

...I don't have high expectations for auction closing values. In fact, one could argue that the "market price" is $1240, since you can still get them at that price.

I suppose that, if there are many buyers looking for more than 5 units, one could argue that the market price is higher. (They have to go elsewhere, and pay a premium, to get more than the first 5.) Also, if someone really doesn't want to wait until September the whateverth for delivery, they might be willing to pay more at auction -- although, as I said, the seller above offers no guarantees.

 

Mint states no product limit

http://catalog.usmint.gov/webapp/wc...catalogId=10001&storeId=10001&productId=17610

 

Ahhh, I totally missed that the seller makes no guarantee. Well then the seller didn't get screwed. He has nothing to lose. If the auction doesn't close for a profit, then he just backs out. Clever actually.

EDIT: Okay I guess I didn't miss anything. Just read the item description on the coin that sold in auction for $1349 and they don't mention anything about no guarantee. I suppose they could probably still make something up, but then the buyer has every right to nail him with negative feedback and report him.

 

Aug 5, 2014 coin up-date ~ No production limit on Kennedy Proof Gold coin.

http://news.coinupdate.com/special-products-celebrate-anniversary-of-kennedy-half-dollar-3359/

I might be wrong !

 

Every where I've read, people have stated that they are being minted to demand. Do you have a link?