US Mint Bulk Purchase Program
Raufus
Posts: 6,784 ✭✭✭✭✭
I received this email at 17:32 EDT today:
U.S. Mint: News Release
United States Mint Announces New Authorized Bulk Purchase Program
WASHINGTON, D.C. — The United States Mint (Mint) is committed to improving the distribution of our Numismatic coin products. As part of this ongoing effort, the Mint has established a new Authorized Bulk Purchase Program (ABPP), which permits qualifying bulk purchasers to purchase a limited number of numismatic Mint products prior to their official on-sale date under an active embargo agreement allowing their resale only on or after the Mint’s official on-sale date, time, and conditions, such as household order limitations. This new program is structured to better meet marketplace product availability on the initial on sale date by expanding the distribution of Mint products.
United States Mint Authorized Bulk Purchase Program applicants must be active members in the Mint’s existing Numismatic Bulk Purchase Program (NBPP) in good standing for at least two years, have a two-year revenue average with the NBPP of at least $500,000 annually, and have a history of full compliance with the Mint’s excessive returns policy.
This new program will help to enhance the distribution of numismatic Mint products as they go on sale, expanding availability of our products by utilizing well vetted business partners that have long-term relationships with the Mint’s Numismatic Programs. Not all Mint products will be offered through this program, and no more than 10% of products with limited quantities will be distributed under this program. No discounts will be given to ABPP members, and some products will carry a premium. The products available through this program will be distributed equally to Authorized Bulk members. The Mint will not ship product to ABPP members, who must provide their own product security and transport. Pick-ups will be allowed three days prior to the official on-sale date.
ADDITIONAL RESOURCES:
For information about the Authorized Bulk Purchase Program, please visit https://catalog.usmint.gov/bulk-purchase-program-landing.html.
Visit https://www.usmint.gov/about for information about the United States Mint.
Visit https://catalog.usmint.gov/customer-service/shipping.html for information on shipping options.
Visit https://catalog.usmint.gov/email-signup to subscribe to United States Mint electronic product notifications, news releases, and public statements.
Sign up for RSS Feeds from the United States Mint and follow us on Facebook, Twitter, Instagram, and Pinterest.
Does anyone know whether such bulk purchasers will be able to buy limited edition products such as the V75 eagles?
Comments
No, we don't know. They were allowed to buy the 2021 ASEs and the gold proofs, but in limited quantities. There is a discussion of this in one of those two threads.
Hats off to the dealers doing $500k consistently with the Mint!
That is alot of product to move.
Alot of grading, shipping, and security costs as well.
BST: KindaNewish (3/21/21), WQuarterFreddie (3/30/21), Meltdown (4/6/21), DBSTrader2 (5/5/21) AKA- unclemonkey on Blow Out
Thanks.
This is the first email that I've received from the Mint on this. I'd think it's deserving of its own thread.
I have no idea how they can enforce HH limits if a limited item is available from multiple sellers immediately upon release.
HHLs only apply to purchase from the Mint and are usually temporary anyway. There's no law against buying 1000 of an item. You just can't buy them all from the Mint until they lift the limit.
Not to mention a lot of dogs. LOL.
They ain't all winners!
Unless the ABPP members abide by the HH limits they will be essentially meaningless.
My point is that one could order from multiple sources immediately upon release thus subverting the HH limit.
I'm pretty sure that ship has sailed.
Did that ship ever even leave that berth? You could always buy 100 of something from Apmex or Pinehurst or all of the above.
I was looking at it from the "limited edition" point of view, where there the ABPP folks couldn't buy in bulk to begin with (is that even a thing?). Otherwise, what difference would it make?
I don't think it changes anything. The HHL is usually temporary and isn't an actual legal restriction on how many you can own which is why retailers were always able to acquire more than one (or whatever the HHL limit was)
That makes sense. It was my understanding that an individual wasn't allowed to order more than the HHL.
They weren't. But they just bought them from flippers and then flipped them themselves.
I'm talking about limited issues on the day of realase at issue price.
Well, you still can't buy multiples on the 1st day of release at issue price. The Bullk Buyers can't even buy them at issue price. They are charging them a 5% premium and making them pick them up at the Mint.
So, again, I think this changes nothing. You could always buy 100 at a presale price from Apmex or Pinehurst or whomever. You paid a premium for it. And you will pay a premium for it now.
All they've done is allow a limited purchase by their 2 dozen or so largest buyers. And it isn't that sweet a deal given that they limit it and make it more expensive for them.
People do that (subverting the HH limit). Probably even some posters here.
All you need are willing friends and family. And, if you are willing to pay a premium, you can put together buyers clubs.
No wonder it is so hard to get just one....
Cheers, RickO
What I should have said is at nearly issue instead of many times issue such as the V75. Having, for example, a V75 like issue available from multiple sellers at near issue would seem to defeat the Mint's HH limit intent. Of course one can have family, etc but I'm talking about the Mint intent of HH limits at issue at or near issue price.