No dealer bulk discount option in effect for Jacqueline Kennedy First Spouse gold coins sales

Customers may order as many Proof and Uncirculated coins desired
By , Coin World
Published : 07/07/15
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A bulk discount purchasing option for dealers that would have offered a competitive advantage over collectors was not in effect when the Proof and Uncirculated 2015-W Jacqueline Kennedy, First Spouse gold $10 coins went on sale from the U.S. Mint for the first time at noon Eastern Time June 25.

“The coin was not offered through the bulk dealer program and there was no household order limit,” Adam Stump, the U.S. Mint’s deputy director for the Office of Corporate Communications, said via email July 7. “Normally, First Spouse gold coins are part of the bulk dealer program, but the Mint intentionally made the decision to pull the Kennedy First Spouse gold coin because of potential for high demand.

“A key point to highlight is we raised the mintage limit from 10,000 to 30,000. Had the Mint not raised the limit, we would have sold out on the first day. Because we raised the mintage limit, customers can still buy the coin.”

The Mint recorded first-day sales June 25 of 7,102 of the Proof coins at $790 each and 3,792 of the Uncirculated version at $770 each.

According to the Mint, sales through June 28 reached 7,936 of the Proof and 4,072 of the Uncirculated coins. 

A sales update was expected from the Mint by close of business July 7.

The orders received June 25 by the U.S. Mint for the Kennedy First Spouse coins were sufficient to place both ordering options into backorder status.

Despite a notice on the Mint’s website that shipping would be delayed until Sept. 1, the Mint’s contracted fulfillment center in Memphis, Tenn., began shipping packaged stock already in inventory almost immediately to the customers that ordered them.

Some collectors questioned, through online numismatic chat rooms, how some dealers were able to obtain quantities of the Kennedy coin and offer them certified by a third-party grading service within days of their June 25 release.

SilverTowne President David Hendrickson said the Winchester, Ind., firm had company staff at the sales center at Mint headquarters in Washington, D.C., for the first-day sales.

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