Another First for the United States Mint...

cagcrisp · February 19, 2020 5:50PM

This afternoon the United States Mint was supposed to re-price the 2019 Reverse Proof Palladium coin.

The Mint did Not. This was a first for the Mint since it started selling palladium coins in 2018.

The Mint put the palladium on CU status yesterday morning in anticipation of re-pricing at $2,937.50 ($150.00/oz. Increase from previous price) this afternoon.

So why did the Mint not follow through with the re-pricing this afternoon?

Answer: Overnight palladium pricing jumped well over $100/oz.

IF the Mint was to sell at CURRENT LBMA pricing, the price for the 2019 Reverse Proof Palladium would be $3,137.50.

...SO...The Mint holds all the cards. Proper pricing would put 2019 Reverse Proof Palladium at $2,937.50, however, the Mint has chosen to wait and see if current LBMA pricing holds and then one week from today the CU sign will come down and a new price of $3,137.50 will be posted.

Another First for the United States Mint...

UPDATE....

At Approximately 2:00PM ET (02/26/2020) the United States Mint took OFF the Currently Unavailable sign and hung up the $300.00 Higher Priced 2019 Reverse Proof Palladium coin.

Buy all you want at $3,087.50...

MilesWaits · February 19, 2020 8:49PM

Yes these are trying times for those holding Palladium in that: (Clash) should I stay or should I go now?
Palladium is making a lot of “firsts” this year.
Thank you for the update.

BAJJERFAN · February 19, 2020 9:38PM

This is 2020. Why would the mint be repricing old issue coins from 2019? What am I missing? I don't see a Pd coin being offered until Fall.

BAJJERFAN · February 19, 2020 9:47PM

Will the Mint be collecting sales taxes in those states where coins and bullion purchases are taxed?

jmlanzaf · February 20, 2020 2:39AM

@BAJJERFAN said:
This is 2020. Why would the mint be repricing old issue coins from 2019? What am I missing? I don't see a Pd coin being offered until Fall.

They reprice all bullion coins weekly as bullion fluctuates.

291fifth · February 20, 2020 2:47AM

Mint sales of bullion and collector coins are a business. They make business decisions regarding pricing.

cagcrisp · February 20, 2020 3:28AM

Pricing for Gold, Platinum and Palladium change Every Wednesday. Sometimes Up and sometimes Down (sometimes the same) depending on the Mint’s pricing matrix. This is the First time the Mint has withheld pricing because of a potential Higher price a week later. Matrix pricing changes can only happen on Wednesday.

The pricing for the 2019 Reverse Proof Palladium has to be $2,937.50 until a potential change next Wednesday or the Mint can hold it as CU until that time...

BAJJERFAN · February 20, 2020 9:52AM

@cagcrisp said:

Pricing for Gold, Platinum and Palladium change Every Wednesday. Sometimes Up and sometimes Down (sometimes the same) depending on the Mint’s pricing matrix. This is the First time the Mint has withheld pricing because of a potential Higher price a week later. Matrix pricing changes can only happen on Wednesday.

The pricing for the 2019 Reverse Proof Palladium has to be $2,937.50 until a potential change next Wednesday or the Mint can hold it as CU until that time...

AFAICT the Mint isn't selling that or any other PD coin at the moment so why does it matter?

cagcrisp · February 20, 2020 11:42AM

@BAJJERFAN said:

@cagcrisp said:

Pricing for Gold, Platinum and Palladium change Every Wednesday. Sometimes Up and sometimes Down (sometimes the same) depending on the Mint’s pricing matrix. This is the First time the Mint has withheld pricing because of a potential Higher price a week later. Matrix pricing changes can only happen on Wednesday.

The pricing for the 2019 Reverse Proof Palladium has to be $2,937.50 until a potential change next Wednesday or the Mint can hold it as CU until that time...

AFAICT the Mint isn't selling that or any other PD coin at the moment so why does it matter?

It matters because the Mint was actively selling the Palladium coin two days ago...And...People were buying the coin actively two days ago.

There have been Over $3.5 Million of Palladium coins sold Since sales numbers reported by the Mint on 01/12/2020.
$3.5 Million in sales is More than All the sales $ for the 2019-S Reverse Proof American Silver Eagle...

BAJJERFAN · February 20, 2020 11:53AM

@cagcrisp said:

@BAJJERFAN said:

@cagcrisp said:

Pricing for Gold, Platinum and Palladium change Every Wednesday. Sometimes Up and sometimes Down (sometimes the same) depending on the Mint’s pricing matrix. This is the First time the Mint has withheld pricing because of a potential Higher price a week later. Matrix pricing changes can only happen on Wednesday.

The pricing for the 2019 Reverse Proof Palladium has to be $2,937.50 until a potential change next Wednesday or the Mint can hold it as CU until that time...

AFAICT the Mint isn't selling that or any other PD coin at the moment so why does it matter?

It matters because the Mint was actively selling the Palladium coin two days ago...And...People were buying the coin actively two days ago.

There have been Over $3.5 Million of Palladium coins sold Since sales numbers reported by the Mint on 01/12/2020.
$3.5 Million in sales is More than All the sales $ for the 2019-S Reverse Proof American Silver Eagle...

I wasn't aware they were still selling these . Looks like they wanted to move stale inventory.

cagcrisp · February 20, 2020 12:02PM

@BAJJERFAN said:

@cagcrisp said:

@BAJJERFAN said:

@cagcrisp said:

Pricing for Gold, Platinum and Palladium change Every Wednesday. Sometimes Up and sometimes Down (sometimes the same) depending on the Mint’s pricing matrix. This is the First time the Mint has withheld pricing because of a potential Higher price a week later. Matrix pricing changes can only happen on Wednesday.

The pricing for the 2019 Reverse Proof Palladium has to be $2,937.50 until a potential change next Wednesday or the Mint can hold it as CU until that time...

AFAICT the Mint isn't selling that or any other PD coin at the moment so why does it matter?

It matters because the Mint was actively selling the Palladium coin two days ago...And...People were buying the coin actively two days ago.

There have been Over $3.5 Million of Palladium coins sold Since sales numbers reported by the Mint on 01/12/2020.
$3.5 Million in sales is More than All the sales $ for the 2019-S Reverse Proof American Silver Eagle...

I wasn't aware they were still selling these . Looks like they wanted to move stale inventory.

The 2019 Reverse Proof Palladium accounted for 21% of All numismatic sales for FY2019 for Gold, Platinum and Palladium.

There has never been a week that hasn't had sales since Launch day September 12, 2019. People have been chasing these coins all the way Up in price..

MilesWaits · February 20, 2020 12:09PM

Really helpful research you were doing on this topic! I did not realize that the demand continues for this ever increasing priced coin.

BAJJERFAN · February 20, 2020 12:16PM

@MilesWaits said:
Really helpful research you were doing on this topic! I did not realize that the demand continues for this ever increasing priced coin.

Seems to me that if it was THAT hot that it should have sold out long ago.

cagcrisp · February 20, 2020 12:18PM

@MilesWaits said:
Really helpful research you were doing on this topic! I did not realize that the demand continues for this ever increasing priced coin.

At the end of FY2019 the Mint had 183 items listed on sales and production reports. The 2019 Reverse Proof Palladium generated more revenue dollars for the Mint than any of the Other 182 items in fiscal year 2019.

The 2019 Reverse Proof Palladium coin is a big deal for the Mint and it's a big deal for those wanting to purchase...

cagcrisp · February 20, 2020 1:02PM

@BAJJERFAN said:

@MilesWaits said:
Really helpful research you were doing on this topic! I did not realize that the demand continues for this ever increasing priced coin.

Seems to me that if it was THAT hot that it should have sold out long ago.

Depends on what you call hot. I think selling $3.5 Million with pricing Above $2,500.00/coin is Unbelievable. I doubt if any Mint modeling would have projected that happening...

jmlanzaf · February 20, 2020 2:36PM

@BAJJERFAN said:

@MilesWaits said:
Really helpful research you were doing on this topic! I did not realize that the demand continues for this ever increasing priced coin.

Seems to me that if it was THAT hot that it should have sold out long ago.

He didn't say it was hot, he said the price has been going up.

BAJJERFAN · February 20, 2020 2:37PM

When you have something that's been on sale for over 5 months and sales have slowed to a crawl it doesn't seem like raising the price on the last few to clear them out is the smartest thing to do.

jmlanzaf · February 20, 2020 2:40PM

@BAJJERFAN said:
When you have something that's been on sale for over 5 months and sales have slowed to a crawl it doesn't seem like raising the price on the last few to clear them out is the smartest thing to do.

The price is set based on bullion value. It would be silly for them to sell them at the original $2000 issue price when the spot price of palladium is $2600.

blitzdude · February 20, 2020 2:50PM

My guess is the price stayed put because they are just trying to clear last years inventory. It's not like anyone is buying palladium.

MilesWaits · February 20, 2020 2:57PM

Wow, a bit of speculation on who is and isn’t buying Palladium. Where is the support or research showing that palladium is not being purchased? We do have someone that is clearly doing their research on Mint sales.

cagcrisp · February 20, 2020 3:17PM

@blitzdude said:
My guess is the price stayed put because they are just trying to clear last years inventory. It's not like anyone is buying palladium.

People are buying the 2019 Reverse Proof Palladium every week from the United States Mint...

BAJJERFAN · February 20, 2020 3:19PM

@jmlanzaf said:

@BAJJERFAN said:
When you have something that's been on sale for over 5 months and sales have slowed to a crawl it doesn't seem like raising the price on the last few to clear them out is the smartest thing to do.

The price is set based on bullion value. It would be silly for them to sell them at the original $2000 issue price when the spot price of palladium is $2600.

Of course, but that's not what I was addressing. It's also equally silly to raise the price on something that isn't selling, duh!

cagcrisp · February 20, 2020 3:21PM

@BAJJERFAN said:
When you have something that's been on sale for over 5 months and sales have slowed to a crawl it doesn't seem like raising the price on the last few to clear them out is the smartest thing to do.

You really don’t understand how the Mint sells Palladium do you?

BAJJERFAN · February 20, 2020 3:24PM

@MilesWaits said:
Wow, a bit of speculation on who is and isn’t buying Palladium. Where is the support or research showing that palladium is not being purchased? We do have someone that is clearly doing their research on Mint sales.

Sales were languishing so what did you expect him to conclude, that buyers were lined up out to the street?

MilesWaits · February 20, 2020 3:55PM

Uncle

BAJJERFAN · February 20, 2020 4:27PM

@cagcrisp said:

@BAJJERFAN said:
When you have something that's been on sale for over 5 months and sales have slowed to a crawl it doesn't seem like raising the price on the last few to clear them out is the smartest thing to do.

You really don’t understand how the Mint sells Palladium do you?

I do. Or maybe they sold the last one and didn't need to adjust the price. At any rate I'm not as concerned about their failure to act as you are.

cagcrisp · February 20, 2020 4:31PM

@BAJJERFAN said:

@cagcrisp said:

@BAJJERFAN said:
When you have something that's been on sale for over 5 months and sales have slowed to a crawl it doesn't seem like raising the price on the last few to clear them out is the smartest thing to do.

You really don’t understand how the Mint sells Palladium do you?

I do. Or maybe they sold the last one and didn't need to adjust the price. At any rate I'm not as concerned about their failure to act as you are.

You do? If you do you would know that the mintage is 30,000 so the last one hasn’t been sold...

BAJJERFAN · February 20, 2020 4:48PM

@cagcrisp said:

@BAJJERFAN said:

@cagcrisp said:

@BAJJERFAN said:
When you have something that's been on sale for over 5 months and sales have slowed to a crawl it doesn't seem like raising the price on the last few to clear them out is the smartest thing to do.

You really don’t understand how the Mint sells Palladium do you?

I do. Or maybe they sold the last one and didn't need to adjust the price. At any rate I'm not as concerned about their failure to act as you are.

You do? If you do you would know that the mintage is 30,000 so the last one hasn’t been sold...

Maybe you should call the Mint to get your answer. And maybe even back up the truck while they still have lots of em left and cheap.

cagcrisp · February 20, 2020 5:14PM

@BAJJERFAN said:

@cagcrisp said:

@BAJJERFAN said:

@cagcrisp said:

@BAJJERFAN said:
When you have something that's been on sale for over 5 months and sales have slowed to a crawl it doesn't seem like raising the price on the last few to clear them out is the smartest thing to do.

You really don’t understand how the Mint sells Palladium do you?

I do. Or maybe they sold the last one and didn't need to adjust the price. At any rate I'm not as concerned about their failure to act as you are.

You do? If you do you would know that the mintage is 30,000 so the last one hasn’t been sold...

Maybe you should call the Mint to get your answer.

Answer to what? I already know that “Another First for the United States Mint”.

I know why the Mint is doing what they are doing...

blitzdude · February 20, 2020 5:21PM

@MilesWaits said:
Wow, a bit of speculation on who is and isn’t buying Palladium. Where is the support or research showing that palladium is not being purchased? We do have someone that is clearly doing their research on Mint sales.

I'm showing ZERO sales for US mint palladium February 2020. "0"

cagcrisp · February 20, 2020 5:25PM

@blitzdude said:

@MilesWaits said:
Wow, a bit of speculation on who is and isn’t buying Palladium. Where is the support or research showing that palladium is not being purchased? We do have someone that is clearly doing their research on Mint sales.

I'm showing ZERO sales for US mint palladium February 2020. "0"

100% of this discussion has been about the 2019 Reverse Proof Palladium...

BAJJERFAN · February 20, 2020 5:31PM

@cagcrisp said:

@BAJJERFAN said:

@cagcrisp said:

@BAJJERFAN said:

@cagcrisp said:

@BAJJERFAN said:
When you have something that's been on sale for over 5 months and sales have slowed to a crawl it doesn't seem like raising the price on the last few to clear them out is the smartest thing to do.

You really don’t understand how the Mint sells Palladium do you?

I do. Or maybe they sold the last one and didn't need to adjust the price. At any rate I'm not as concerned about their failure to act as you are.

You do? If you do you would know that the mintage is 30,000 so the last one hasn’t been sold...

Maybe you should call the Mint to get your answer.

Answer to what? I already know that “Another First for the United States Mint”.

I know why the Mint is doing what they are doing...

$150 is too big of a price move for a slow seller. As of 1/12/20 they sold a little over half in 4 months so I doubt the last month that they have been flying off the shelves.

BAJJERFAN · February 20, 2020 5:32PM

@cagcrisp said:

@blitzdude said:

@MilesWaits said:
Wow, a bit of speculation on who is and isn’t buying Palladium. Where is the support or research showing that palladium is not being purchased? We do have someone that is clearly doing their research on Mint sales.

I'm showing ZERO sales for US mint palladium February 2020. "0"

100% of this discussion has been about the 2019 Reverse Proof Palladium...

No 2020 version until September.

BAJJERFAN · February 20, 2020 5:39PM

good for them

don't they usually cut off sales of prior year coins about the end of February?

blitzdude · February 20, 2020 5:44PM

@cagcrisp said:

@blitzdude said:

@MilesWaits said:
Wow, a bit of speculation on who is and isn’t buying Palladium. Where is the support or research showing that palladium is not being purchased? We do have someone that is clearly doing their research on Mint sales.

I'm showing ZERO sales for US mint palladium February 2020. "0"

100% of this discussion has been about the 2019 Reverse Proof Palladium...

Nada, Zero, Zip!

cagcrisp · February 20, 2020 5:49PM

@blitzdude said:

@cagcrisp said:

@blitzdude said:

@MilesWaits said:
Wow, a bit of speculation on who is and isn’t buying Palladium. Where is the support or research showing that palladium is not being purchased? We do have someone that is clearly doing their research on Mint sales.

I'm showing ZERO sales for US mint palladium February 2020. "0"

100% of this discussion has been about the 2019 Reverse Proof Palladium...

Nada, Zero, Zip!

Again...100% of this discussion has been about the 2019 Reverse Proof Palladium.

You’re looking at Bullion sales. Numismatic sales haven’t been updated on the Mint’s website since 01/12/2020...

cagcrisp · February 26, 2020 12:04PM

At Approximately 2:00PM ET the United States Mint took OFF the Currently Unavailable sign and hung up the $300.00 Higher Priced 2019 Reverse Proof Palladium coin.

Buy all you want at $3,087.50...

cagcrisp · March 11, 2020 7:08AM

The Mint Should drop the price on the 2019 Reverse Proof Palladium $150 this afternoon to $2,887.50...

The Mint took the coin to CU when they raised the prices by $150.00 and yet you can Currently put 99 coins in your cart at the $3,037.50 price.

The Mint is Slow to drop prices and Fast to raise prices...(kind of like gasoline prices)...

cagcrisp · April 1, 2020 11:16AM

The Previously CU 2019 Reverse Proof Palladium has Mysteriously re-appeared + $500.00…

…To $2,950.00

…SO…You could Not purchase Any at $2,450.00, however, Now you can put 99 in your bag at $2,950.00…

Another First for the United States Mint...

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