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IF you buy Precious Metals from the United States Mint you better grab your.....wallet...
cagcrisp
Posts: 1,057 ✭✭✭✭✭
New Pricing has just been announced for the Platinum Proof coins ( I assume Gold and Palladium will be Following when the time comes)
New Pricing UP $175.00 PER OUNCE over current matrix pricing...
$950.00 to $999.99 range went from $1,370.00 to $1,545.00...
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The Mint is a business and profit is their goal. Cheers, RickO
Ow. That’ll keep the mintage static
They need to do Rhodium coins.
Well, isn't that special! #%!*?&
I knew it would happen.
Why B&M stores exist. We will be buying gramps' collection, soon enough. And then we reset the prices to reflect reality.
They make so much junk that the Treasury never buys from them then they put the cost on everything the public buy's.
Fighting the Fight for 11 Years with the big "C" - Never Ever Give Up!
Member PCGS Open Forum board 2002 - 2006 (closed end of 2006) Current board since 2006 Successful trades with many members, over the past two decades, never a bad deal.
???
I don't understand. What does the Treasury not buy? Dollar coins? Seignorage still applies which is the only money the Mint actually makes...well, other than the coins themselves.
They lose money on just about everything they sell to the public.
Edited to correct my mistake, I stated the Treasury Monetized Coinage, it is the Federal Reserve.
If coins stay at the mint they are not monetized by the Federal Reserve . The Fed. literally buys every coin at face value from the mint if the mint does not send it out the door the Fed. never monetize them. They can say a dollar all day long but it doesn't have a value of a dollar.
This was one of the things the government argued in the case about the 1933 $20 Saint's the fact that they were never monetized and were not legal currency and could not be released.
Therefore if the mint is sitting on a million Sacagawea's and they don't go out the door they don't get that million dollars for them to pay back production cost. Hope that helps.
Fighting the Fight for 11 Years with the big "C" - Never Ever Give Up!
Member PCGS Open Forum board 2002 - 2006 (closed end of 2006) Current board since 2006 Successful trades with many members, over the past two decades, never a bad deal.
Here is the NEW Grid Pricing for Gold and Palladium that will go into effect March 18, 2020...
American Eagle Gold Proof 1oz. UP $297.50
American Eagle Gold Proof ½ oz. UP $150.00
American Eagle Gold Proof ¼ oz. UP $75.00
American Eagle Gold Proof 1/10 oz. UP $32.50
American Eagle Gold Proof 4 coin set UP $562.50
American Eagle Gold Uncirculated UP $300.00
American Buffalo 24K Gold Proof UP $305.00
American Eagle Palladium Reverse Proof UP $262.50
American Liberty 24K Gold 1oz. UP $300.00
American Liberty 24K Gold 1/10 oz. UP $35.00
Commemorative Gold Proof UP $115.50
Commemorative Gold Uncirculated UP $115.50
The Mint will implement the New Pricing Grid this Afternoon…
Before Yesterday:
This Afternoons 1 oz. American Gold Eagle Proof would have been $1, 877.50 (Down $150.00 from Current Mint price).
This Afternoon:
1 oz. American Gold Eagle Proof will be $2,175.00 (Up $147.50 from Current Mint price).
Before Yesterday:
This Afternoons 1 oz. 2019 Reverse Proof Palladium would have been $2,187.50 (Down $700.00 from Current Mint price).
This Afternoon:
1 oz. 2019 Reverse Proof Palladium will be $2,450.00 (Down $437.50 from Current Mint price).
Count me out.
That's just crazy, pass across the board.
Glad I don't buy gold or palladium.
I feel like joining the hashtag "metoo" movement over their pricing structure.
That's ridiculous.