US Mint Authorized Purchaser Program

Tootawl

I've known for some time that the US Mint sells uncirulated SAEs to "Authorized Purchasers" but never knew how to become one. I just ran across some info that I found interesting. In a nutshell:

- Minimum ordering for SAEs is 25,000 ounces.
- Company must be an experienced and established market-maker in silver bullion coins
- Have an established broad base of retail customers
- Have a tangible net worth of at least $5 million.
- There are only 11 Authorized Purchasers worldwide.

Here is what the U.S. Mint says about it:

"The price of the Silver Eagle, as for all bullion coins, is based on the current market price of silver plus a small premium to cover minting, distribution and marketing costs, and fluctuates daily due to changing market conditions. The Mint does not sell its bullion coins directly to the public but distributes them through a network of official distributors called Authorized Purchasers.


Authorized Purchasers must meet strict financial and professional criteria, which must be validated by an independent and internationally-recognized accounting firm. The minimum ordering requirement for Authorized Purchasers of the American Eagle Silver Bullion Coin is 25,000 ounces. In addition, the Authorized Purchaser must be an experienced and established market-maker in silver bullion coins, as well as provide a two-way market for the coins, have an established broad base of retail customers in which to distribute the coins and must have a tangible net worth of at least $5 million.


The United States Mint currently sells American Eagle Silver Bullion Coins to 11 Authorized Purchasers worldwide. The Silver Eagle Authorized Purchasers in the United States are: A-Mark Precious Metals in Los Angeles, SCB/Mocatta Bullion in New York, Jack Hunt Coin Brokers in New York, Salomon Smith Barney in New York, Prudential Securities, Inc. (New York), The Gold Center (Illinois) and HSBC Bank in New York, with sales domestically and abroad.

The international Silver Eagle Authorized Purchasers are Commerzbank International (Luxembourg), Deutsche Bank A.G. (Germany), Union Bank of Switzerland (Zurich) and Hang Seng Bank (Hong Kong)."

Editted to fix link.

beartracks42

Tootawl, I called a couple of these firms two years ago when I was looking for gold eagles. A-Mark required a purchase of $50,000 minimum. HSB Bank in New York City also had a rather high minimum order by phone but indicated that any amount could be purchased at their business in NY City without minimum. I ended up buying from Tulving.

Gary