Modern Coin Mart is offering $1350 for gold Kennedys. Im having trouble understanding why if they are still available from the mint at $1277? Are they tapped out with ordering limits? Or is it a problem with the production dates?
Probably some of both. From MCM's viewpoint, it's much easier to pay a 10% premium and 3 days later, have the coin in hand, ready to ship to a buyer.
This. They just want to be able to market it to those willing to pay high premiums to have it NOW rather than waiting, maybe even getting "Early Release" labels.
Here is what I got via email. MCM is buying 2014-W Proof Gold Kennedy half dollar commemoratives. If you ordered 2014-W Gold proof Kennedy half dollar commemoratives from the mint and have them in hand, MCM is interested in purchasing them. We are paying $1,350 each for your coins! Your coins must be sent to us using overnight shipping. We will pay for FedEx shipping on three or more coins (call for instructions). Our buy offer is subject to change, so please call to confirm. YOU MUST call to confirm before sending your coin(s)!
The "key" -- have them in hand (think I used that phrase recently, look back three posts). I, umm, have no advice.
For those of you following along at home, I just called them, and they're no longer buying. Guess there were plenty of folks who thought $1350 was a good offer...
I wonder how much longer these dealers will be the only ones with the gold Kennedy's and with no one to sell them to. The Mint is still selling them for $1240.00 so why pay more if you do not have to. It does not belong in a Kennedy half dollar set so the hardcore Kennedy collectors that think they do probably have the one they want. So now it is the commemorative coin collectors who will, in my opinion, ultimately determine the market value. If they are willing to wait then the dealers eventually will have to drop their prices to sell them if they cannot afford to tie up that much cash for an extended period of time.
The price from the mint is no longer $1240 I think its $1277.50 now, plus with a ship date of probably late Oct I can see people paying an extra couple hundred to guarantee theirs. I'm hoping I can get lucky with the graders and sell 3 possibly 4 of mine keeping 1 or 2 for basically free. It's a gamble but what in the heck in this life isn't?
