Though I personally have never been to the annual ANA show, certainly from the looks of it in this report, coin collector interest (perhaps particularly modern precious metals collector coins) may actually be healthy.... http://news.coinupdate.com/scenes-from-the-chicago-ana-gold-kennedy-half-dollar-line-4413/ Any members here have been to previous ANA shows and can compare with this year in terms of the health of collector sentiment / interest in modern precious metals coins particularly? .
I think that line is for the gold Kennedy coin. Guessing these people are hoping to get the first few releases, slab them and flip them for a huge profit on feebay. Don't think that necessarily signals a healthy interest in coin collecting.
Source: http://mintnewsblog.com/2014/08/opening-day-jfk-gold-coin-sales-reach-56694/ The United States Mint has provided the first day sales figure for the 2014 50th Anniversary Kennedy Half Dollar Gold Proof Coin. Already exceeding the initial production quantity, orders across all channels have reached 56,694 coins. Breakdown of first day sales: Online/Call Center Sales: 54,825 ANA: 493 Mint Headquarters: 376 Philadelphia: 500 Denver: 500 Heck PCGS even have a new label designation for the 1st coin sold at ANA... "1st Coin Sold"! :lol:
Guessing some coins will be on back-order for awhile. Think you can let the mania die down and get them much later.
$20,000 plus!? What could be so special about those coins in comparison to the one's that you could get for $1300 on line or at Denver and Philadelphia? What am I not getting? I understand the concept of high premiums but this sounds like $18,000 flushed down the toilet. .
I believe the $20k was for all 4 coins, not each. But the important point is don't ignore the power of Camelot. The Kennedy charisma + tragedy + boomers with fond memories and mucho dinero = these coins could do well. I would like one, but unless there is a mintage limit or upcoming deadline, what is the hurry?
From my understanding: 1. PCGS slabbed the first coin as "First coin sold", one of a kind if you dig unique labels 2. Buying at ANA gives you a unique ANA label (only 1500 Kennedy coins sold at ANA) 3. One gets to sell his coin on eBay for higher price at "ready stock" Gold Kennedy, PF70 with ANA label asking for $5k on eBay! Source: http://www.ebay.com/itm/2014-W-GOLD...76?pt=Coins_US_Individual&hash=item19f1c2eb4c
As I've said plenty of times in the past, these gimmick labels are pure racket and have nothing to do with the quality or condition of the coin. It boggles my mind that there are people who believe that a duplicitous PCGS labelled slab with the words "first strike" (or any of those other dishonest phrases) on it is more valuable than a PCGS slab that doesn't in which the coin itself is graded exactly the same. There really are some giant suckers out there. I am all in support of reputable 3rd party grading companies determining the authenticity and condition of a coin or medal, but this gimmick label crap is pure snake oil sales. .
I'm my opinion NCLT coins look better in their original housing. Here in Canada I've noticed TPG labels are unpopular or at least not as popular as in the US ( for NCLT ). I've talked to a few US collectors who say it's all they will buy. I have to agree with MMlink I scratch my head at times when I see these show coins labels selling for these extremely high prices. A 70 with a different label can go for X amount of times higher then a 70 without a few words like ANA or show?
I agree, many of the people in this line were homeless people paid to queue as well as those bussed in by a well known dealer and of course non collectors doing a quick flip to dealers on the show floor. The police shut down the sales after a few riotous incidents. There was also a gun point hold up in the show toilets.... Welcome to ANA show Chicago!
They were right to shut the line down if someone was held up by gun point. That's the last thing you want to hear about going to a coin show.
Over the past few years, there have been record breaking auctions for coins. Now granted, those coins are for true rare numismatic coins, but with the increased media attention to the news of the record auctions and rare coin hoardes found, I would think that this should somewhat increase coin collecting interest. .
High end paintings, gems, coins, etc. are all going for record amounts, but that is an entirely different market. When pms start a new bull market, the investors will come. Joe 6Pack can buy ASEs and even SLV, but he won't until he sees them going up.
Does not interest me in the slightest. If one is cheap in a year or so then i may purchase one. If not... not bothered. Plenty of other gold coins i'd love to have.
I understand that sentiment. There is no shortage of really nice gold coins available...not quite as interesting a selection as coins and medals made from silver, but still enough. For example, if I were going to buy a gold coin, my first choice would probably be a gold BU Libertad. Imagine that, this Yank's first choice would not be a gold American Eagle or American Buffalo, but a Libertad....go figure. .
When I go to a coin show the average age of the dealer and attendee is very high. That is not a scientific sample and is based on nothing more than my general observations. One of my concerns is that the pool of collectors is shrinking as the demographics age.
