First four gold Kennedys go for $20,000

David Hendrickson of SilverTowne made a deal to purchase the first four coins sold at the ANA convention for $20,000 plus four later coins to be given to the first four people to stand in line. They were the four pictured above: Rina Maya, Callie Hohlfeld, and Nick and Daniel Yadgarov, all of Los Angeles.

Crowds lined up to sleep outside the night before the new gold Kennedy half dollar was to go on sale at 10:30 the next morning.  As the night went on the lines continued to grow to what officials estimated to be about 1,100 people.  With only 500 coins available for sale, it’s needless to say that the mood was competitive.  The four collectors pictured above braved the crowds as the first four people standing in line when the Mint began the sale.

The reward for this goes beyond simply the guarantee of a gold Kennedy coin, though that’s part of it.  David Hendrickson of SilverTowne had announced that he would pay $20,000 for the first four half dollar coins issued that morning.  So while the group had to give up the first four coins to gain a hefty purse from Hendrickson, they were later given a different set of four coins that were issued much farther down the line.

One uncomfortable sleepless night seems well worth their $20,000 prize.  

Read the source article at Coin News