Kennedy gold Proof half dollar sales slacken
- Published: Aug 22, 2014, 8 AM
Sales by the United States Mint for the gold Proof 1964–2014-W Kennedy 50th Anniversary half dollar continue, though not at the initial pace.
The Mint, through Aug. 17, reported sales of 63,521 for the commemorative containing 0.75 ounces of .9999 fine gold. The coins went on sale at noon Eastern Time Aug. 5. The U.S. Mint is striking the coins at the West Point Mint to customer demand.
The coins were initially offered Aug. 5 starting at $1,240 per coin. That price was raised to $1,277.50 on Aug. 13, according to the U.S. Mint’s pricing grid. The price can move up, down or remain the same depending on the spot price of gold.
When the Mint launched sales, officials indicated the bureau already had 40,000 coins struck and ready to ship. More than 57,000 coins were recorded sold the first day the coins were available.
Officials indicated they had enough blanks on hand to produce a cumulative total of roughly 75,000 coins at the rate of 6,000 coins per week over the ensuing six weeks.
Mint officials indicate the gold Proof Kennedy half dollars can be struck through Dec. 31, 2014.
As of Aug. 20, the U.S. Mint’s website reports that customers buying the Kennedy gold Proof Kennedy half dollars can expect a shipping date of at least Sept. 15 because of back orders. Online and telephone orders to 800-872-6468 are limited to five coins per household.
The obverse of the gold Proof 2014-W Kennedy 50th Anniversary half dollar bears Chief U.S. Mint Engraver Gilroy Roberts high relief 1963 sculpture, based on an earlier medallic portrait of President Kennedy.
Secondary market pricing
Aug. 20, on eBay, examples of the Kennedy gold Proof half dollar were being offered in multiday auctions as well as with Best Offer options.
One Kennedy gold half dollar, graded by Professional Coin Grading Service as Proof 70, Deep Cameo, First Strike, brought $2,950 on Aug. 20. The coin was graded and encapsulated as one of the coins purchased in person during the first three days of the American Numismatic Association World’s Fair of Money in Rosemont, Ill.
SilverTowne was offering, for as low as $4,895 each, Numismatic Guaranty Corp. graded Proof 70 Ultra Cameo examples of the Kennedy gold half dollar that were purchased in person at the ANA convention or at a sales center at the Denver or Philadelphia Mint or U.S. Mint headquarters in Washington, D.C.
SilverTowne reported it was out of stock of four-piece sets — privately created for the secondary market, comprising one coin each from the four first-day venues — for $19,351.50.
American Precious Metals Exchange (APMEX) was offering PCGS Proof 70, Deep Cameo, First Strike coins from the ANA convention for as low as $4,395, with PCGS Proof 69, Deep Cameo, First Strike coins from the ANA convention offered for as low as $3,495.
SilverTowne and APMEX “as low as” prices were for payments made by check or wire, with credit card purchases costing 3 percent more.
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