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Collectors Go Crazy for JFK Gold Coins

News outlets around the nation have reported today on stampedes, misleading classified ads, and even homeless people agreeing to stand in lines for up to $300 in cash, all for the U.S. Mint’s latest commemorative gold coin: the 24-karat JFK gold coin.

The coins contain three-quarters of an ounce of pure United States gold, and were minted to commemorate the 50th anniversary of the Kennedy half-dollar. At least 56,694 JFK gold coins were sold during their first day on the market, although the U.S. Mint has only been able to produce 40,000 units so far.

Some gold coin experts have expressed doubt about the coin’s potential as a long-term investment, but many can (and have) made a quick buck by re-selling the coins they won the right to buy for $1,240 each by camping out overnight, winning a raffle, or shelling out hundreds of dollars to less fortunate individuals for holding their place in line.

It has been reported that the first confirmed buyers of the coins were paid $5,000 for each coin they purchased, and they were promised replacement coins. Others were lured to the scene by the promise of a role as an extra in a movie. Why all the fuss?

Some gold coin dealers advertise “first strike” or “first sold” certified gold coins to entice buyers and charge outrageous premiums, but such titles are not authorized by the U.S. Mint. “An older gentleman called us today and asked if $10,000 was a fair eBay price for a set of five of these coins, which don’t even weigh one ounce,” said GoldCoin.net spokesman Keith Kelly. “We don’t know what the market will do to the price of these coins, but our research department doesn’t expect investors to jump into the JFK gold coin market anytime soon. I would love to own one of these coins, as I am a big history buff,” he added, “but there are other coins that might suit an investor’s needs better than coins meant for collectors and historians.”

GoldCoin.net has a range of brochures that discuss the various gold coins available to collectors and investors. For a free e-book about gold coin buying or to have a hard copy of The Insider’s Guide to Gold Coin Buying call 800-425-5672 today and mention address confirmation.

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