Gold Kennedys already below issue price

By the way, you didn't even mention the fact that JFK rescued all of his crew when the Japs sank his PT boat. Lackluster indeed!

 

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I dealt with his presidency only.

If I was talking about Reagan's presidency bringing up "Bedtime for Bonzo" wouldn't be pertinent either.

 

I can't believe that there are so many people who are still angry enough to disparage JFK's memory. His greatest accomplishment was his support of the civil rights movement or did all of you Kennedy haters forget that.

 

I just don't think you understand how this works. We are not discussing nor debating Kennedy's value or contribution both in the war or president. We are not discussing his importance to history.

What we specifically discussing is the value of the 2014 gold kennedy half. What you are not listening to is that while some have strong and emotional opinions of him, there are many collectors out there such as myself who were not even born until long after he died. As one such person while I acknowledge his contribution i have no emotional connection. As a result, a collector such as myself is not as driven as you might be.

The main point I have been making is this. Take kennedy out and just think of this as any other coin, because most collectors do.

Consider these statements
You have a modern coin with about $900 worth of gold in it selling for $1240 issue price. There was a ton of hype and false demand driven by the hof coin aftermarket and a lot of people bought this coin not to own but resell. Feel free to read about the Ana meeting. How dealers were paying people to buy them for them. Thus, the number out there really does exceed the demand by the end consumer. The coin is still available and will be minted if anyone wants to order more.
Now you have this.



Again put your own personal ideas about eBay aside. You have examples of Kennedy coins selling at under issue price on a very popular public auction website. This is a reflection of the current market as it stands today. So the discussion everyone but you are engaged in is will a coin underwater already with this much overhype be able to recover. Remember price is a function of supply and demand. Right now we have endless supply with documented lack of demand as illustrated by the sales above. also realize you are on a coin collecting website talking with the very people who make up that demand. You can pound your fist on the table as much as you want about Kennedy but ultimately, we the collective determine the demand and we the collective do not appear to be very interested. And unless you are going to personally purchase every half minted then our opinion of the coin will shape the demand and thus value above gold content. You should listen to our opinions as we are the very market for the coin and ultimately as a collective will decide what we want to pay for this coin and thus determine its value.

 

So, the company that was paying people off the street a few hundred bucks to stand in line for each coin is now selling those coins at a loss -- a fairly substantial loss, after "retainer", eBay, PayPal and grading fees?

It's funny that people are pointing to the Hitler parody, because the Germans do in fact have a word for this.

 

It really does baffle me who the end buyers were for the Chicago coins. No one in the coin hobby that I know felt $3k+++ was a good deal right out of the gate for an unlimited mintage coin. Why were the big time dealers paying those prices if they didn't have guaranteed profits though? Where are these buyers? Or did the big dealers really get left holding the bag?
Flipping these coins was like playing hot potato with a live grenade..........

 

I know I sold my first one for $3500 & my second for $2300. The price dropped that much due to the dealer's inability to get the first strike label. A buddy of mine had his slabbed PR70 and sold it for $3900 on eBay about a week after the ANA. But not 48 hours later they started selling for $2800 on eBay, then $2500, and so on and so forth. The mega-dealers probably enjoyed about 10-14 days of good profits, so if they were able to move most of their coins in that time frame, then I'd say they did just fine.

 

What difference does it make?