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Still magic in Kennedy name

The first hint of popularity for the Jackie Kennedy First Spouse gold coin became evident not long after the proof and uncirculated coins went on sale yesterday.

The proof went on back order in just hours and this morning the uncirculated coin is listed that way on the Mint website as well.

I know my readers are interested.

In my morning batch, one email that was written last night put the issue this way:

“I was browsing the Mint’s website earlier today and noticed that the Jacqueline Kennedy First Spouse gold proof was already put on back order even though it was way before the 12 noon EST when they were supposed to go on sale! There was no problem with the uncirculated version.

“What gives??

There is nothing from the Mint telling customers as to what happened. And I went on a blog and read some posts that said that the expected ship date for the back ordered proof was Sept. 1. What happened to the Mint?? I mean did some big buyers place advance orders that basically took up all the proof coins the were minted and ready to ship? There was no order limit but would the Mint be so crass as to let a few big buyers hog the lot?

“Would it be possible if Numismatic News inquired with the US Mint as to what happened since the Mint will probably not answer such questions from small time collectors such as myself.”

This email has already been forwarded to the Mint for comment.

With a mintage ceiling of 30,000 between the uncirculated and proofs, or 15,000 for each if demand divides evenly, it is indeed a quick development for the back order status to be reached on the first day of Kennedy sales.

You would think the coins were reverse proofs or silver Eagles or something.

It is good to see high demand even as it causes frustrations like this.

Sales of First Spouse coins have fallen so low in this series that a strong rebound probably caught the Mint off guard a little bit.

If you were in charge, how many of these coins would you produce in advance when sales of prior First Spouses were running at the 2,000 and 3,000 coin level?

I expect available supplies of the Jackie Kennedy coins yesterday were much closer to 3,000 than 15,000.

Buzz blogger Dave Harper is winner of the 2014 Numismatic Literary Guild Award for Best Blog and is editor of the weekly newspaper “Numismatic News.”

 

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