The highly anticipated Kennedy gold commemorative half dollar was scheduled for release at the ANA Money Show in Rosemont, Illinois, on August 5th. The original article expected the release to bring considerable excitement to coin collectors and others. Jubilee means excitement or celebration and often marks an anniversary of a person or event, which was the purpose of this issue. The coin commemorated the 50th anniversary of the original Kennedy half dollar. President Kennedy was among America’s most beloved presidents, and his image had appeared billions of times on half dollars over the prior fifty years. Atlanta Gold & Coin believed the coin could be a major success, as it had anticipated with the National Baseball Hall of Fame commemorative coins. This article reviewed criteria from an earlier discussion of the four essential factors of a successful commemorative coin and considered how this issue compared.
Image that Resonates
The side portrait of John F. Kennedy on the obverse of billions of half dollars over the prior fifty years was, without question, an image with broad recognition. President Kennedy faced numerous crises during his presidency and may be best known for leading the United States through the Cuban Missile Crisis. He was regarded as a principled and resolute leader with firm convictions and was admired especially by U.S. patriots from the “Greatest Generation.” His assassination on November 22, 1963 shocked the world, and a half dollar bearing his image was issued the next year as a tribute. Remarkably, the first strike of the 1964 Kennedy half dollar occurred on February 11, 1964, just two and a half months after the assassination. Questions still remained about whether Lee Harvey Oswald acted alone. Films and documentaries had examined the assassination and the many theories about that day.
Crossover Appeal
At the time of original publication, the article described the following: Baseball Hall of Fame coins had substantial crossover appeal because baseball is America’s favorite pastime. The article argued that the 35th U.S. president, and one of only four assassinated while in office, would likewise appeal broadly. As a long time coin dealer, Atlanta Gold & Coin routinely worked with people unfamiliar with coins. People sometimes confused presidents and historic figures on older notes and coins, but the article stated that no one had mistaken John F. Kennedy’s identity on a half dollar. It could not identify a recently issued modern commemorative coin likely to have as much crossover appeal as the 2014 Kennedy gold commemorative half dollar.
Design/Shape
The Kennedy gold commemorative half dollar was expected to retain the shape and design of regular Kennedy half dollars, but it was distinctive as the first three-quarter-ounce gold coin to be made by the U.S. Mint. Most commemorative gold coins were 90% pure; this Kennedy issue was to be .999 fine gold, or 24k. The article recognized that some investors might question its nontraditional gold-coin size, but noted that earlier $5 and $10 commemorative gold coins contained actual gold weights of .2411 and .4822. The article suggested that strong anticipated popularity could make the issue a trailblazer and lead the Mint to consider an additional fractional Gold Eagle denomination.
Mintage
At the time of publication, the eventual mintage was impossible to predict. As with recent commemorative offerings, purchases were limited to five coins per household. The U.S. Mint was expected to have 40,000 coins available for sale on August 5th, including 2,500 at the ANA show, with production to be adjusted according to early demand. In Atlanta Gold & Coin’s original opinion, expected demand could take mintage well into six figures, though it hoped the final number would remain reasonable enough to support demand and pricing. The article observed that overproduction of many prior commemoratives had hurt the modern commemorative market in recent years.
Summary
In conclusion, the original article expected the Kennedy gold commemorative half dollar’s release on August 5th to be a major success. It reasoned that Kennedy’s image resonated with Americans and provided broad crossover appeal. Historically, crossover appeal had been an important element in creating early demand and sustaining it over time. The issue was also unusual as the first three-quarter-ounce gold coin made by the U.S. Mint. Provided the Mint did not overproduce it, the article expected demand and pricing to remain strong for the foreseeable future.
