gold Kennedy half dollar sold at ANA convention resold for
$100,000 by Paul Gilkes
, Coin World | August 07, 2013
Dealers who bought coin for $5,000
sell it to longtime customer
first Kennedy gold half dollar sold in person to a collector
Aug. 5 by the U.S. Mint at the American Numismatic Association
World's Fair of Money was resold by two dealers to another
collector for $100,000.
The coin that Los Angeles collector Nick
Yadgarov purchased from the Mint for $1,240 was sold Aug.
7 by David Hendrickson from SilverTowne and California dealer
Kevin Lipton to an unnamed collector. Hendrickson and Lipton
had purchased the coin from Yadgarov for $5,000, plus Yadgarov
received another gold Proof 1964–2014-W Kennedy half dollar
from the two dealers. Hendrickson and Lipton also made the
same deal with the next three people in line the first day
of sales — Yadgarov's girlfriend, his brother and his sister.
Hendrickson said the collector to whom the
Yadgarov coin was sold is a longtime customer who purchases
coins over the Coin Vault cable television show, which SilverTowne
The $100,000 coin is certified Proof 70
Deep Cameo by Professional Coin Grading Service. PCGS identified
the coin on the grading label as the first Proof gold Kennedy
half dollar sold by the Mint at the ANA show. Hendrickson
said it was likely the coin would be reholdered by PCGS
to accommodate rewording on the label for the coin's identification.
The second, third and fourth coins sold that Hendrickson
and Lipton purchased also graded PCGS Proof 70 Deep Cameo.
"It's an important coin," Hendrickson
said in defending the $100,000 price the Yadgarov coin garnered.
"It's the first coin sold — the first coin released
of the Kennedy gold coins. There could never be more than
one being the first."
The $100,000 coin was to be displayed Aug.
11 on Coin Vault, Hendrickson said.