Sales versus certified: numbers for Proof gold Kennedy 50th Anniversary half dollars don’t match

Certified figures higher for two venues than number sold
By , Coin World
Published : 09/03/14
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The numbers just don’t add up.

The cumulative totals of Proof 1964–2014-W Kennedy 50th Anniversary gold half dollars reported graded and encapsulated by Professional Coin Grading Service, Numismatic Guaranty Corp. and ANACS during Aug. 5 to 7 sales at the American Numismatic Association World’s Fair of Money in Rosemont, Ill., exceed the number of coins offered and reported sold by the U.S. Mint by 613 coins.

The ANA-show grading numbers, 1,136 coins for NGC, 947 coins for PCGS and 30 gold half dollars for ANACS, total 2,113 — 613 coins more than the 1,500 coins the U.S. Mint offered and sold at the show.

The discrepancy is apparently the result of coins being submitted at the ANA show for certification that likely had actually been purchased at one of the three other sales outlets offering the coins and then forwarded to the Rosemont location for grading and encapsulation. Grading services certifying coins sold at the ANA convention operated under different policies, with two requiring sales receipts showing that the coins had been sold at the show, and one firm not requiring the receipts.

The numbers discrepancies were first reported online in an Aug. 22 article by Charles Morgan on CoinWeek.com.

By the numbers

At the ANA convention, the U.S. Mint was scheduled to offer 500 of the Proof Kennedy gold half dollars each of the five days of the show, Aug. 5 through Aug. 9, for a total of 2,500 coins. 

Sales outlets at U.S. Mint headquarters in Washington, D.C., and contracted operations at the Denver and Philadelphia Mints offered and sold 500 coins each on Aug. 5, as planned. Each Mint location then sold, also as planned, 100 pieces each day on Aug. 6 and 7. 

The three non-ANA sales outlets were scheduled to offer 100 coins at each venue for one more day. However, the U.S. Mint suspended on-site sales set for the ANA on Aug. 8 and 9, and Aug. 8 at the Mint sales outlets, after crowd unruliness outside the Denver Mint threatened the safety of the public and Mint employees. 

Because of the truncated sales, of the 4,900 coins the U.S. Mint planned to offer at all four venues, it only offered 3,600, with all of those coins reported sold.

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