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Why can't an individual buy MS AE's direct from the mint?

Why is it that individuals cannot buy uncirculated SAE's, and gold AE's from the mint? Instead you have to buy them at marked up prices from dealers. I just don't understand the logic here - you can buy proof's, proof sets, commemoratives, mint sets, and just about everything else except uncirculated AE's. I doubt the dealers make much money on them, but the principle of the thing bothers me. I don't understand why the U.S. mint should be guaranteeing dealers a profit by not selling to the public. Maybe I should write my Congressman and Senator. Anybody else feel that way?
Who is General Failure, and why is he reading my hard drive?
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Life is too short, I might as well buy Gold while I'm still around!
Consider, instead, the price you pay the Mint directly for Proof Eagles, which for silver eagles is a multiple of the bullion content.
Personally, I'd much rather pay a dealer a small premium over the bullion content (and let him assume the risks of the price of gold/silver fluctuations) than I would pay a larger premium over the bullion content, plus labor and shipping charges, to the Mint.
Check out the Southern Gold Society
Maybe you could call the mint if you want that many.
<< <i>Last time I talked to Jim at Jack Hunt Coins (who is a primary distributor) I think he said the order quan was 50,000 oz.
Maybe you could call the mint if you want that many.
Maybe that's right. But I had a dealer at the Houston show pull a box out and told me he gets one of these a year from the mint. And it wasn't 50,000 ounces either. Anyway, here's a question for dealers who purchase ASEs direct from the mint. Which city are they shipped to you from?
Jerry
An excellent source for green monster cases is Tulving Company. They sell green monster cases to the public at slightly more then your local coin dealer or I can buy them for.
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Al
<< <i>If they sold them individually they could make even more money charging the outrageous shipping fee!!! >>
They would have to charge $15 a coin to make it worthwhile. Add $3.95 postage and you are looking at $19 a coin. Hardly a bargain by today's current situation. Its also wasteful of packaging to ship them one at a time.
Need more $$$ for coins?
Generally speaking, coins currently get put in huge (pallet-size) bags and shipped from the Mint to the Fed, then from the Fed to armored car companies, who count and wrap the coins and distribute them to banks, grocery stores, etc.
So for silver and gold eagles to be available at banks, you'd have to convince the banks to carry them and then put the Eagles into the coin distribution chain. (If the armored car companies counted and wrapped the coins, you'd get offered really banged-up coins when you went to the bank to buy them. Imagine how happy you'd be with that!) Even if the coins were sold in the monster green cases, they'd still have to be counted at some point, probably the branch, since I doubt many branches would want an entire green case. They'd by counted by hand, by people who weren't coin collectors and could care less whether they put a finger print on or a ding into your formerly MS-69 coin.
In any event, you'd probably still get stuck paying $15 per silver eagle, just to protect the bank from fluctuations in the silver price during the period it owned the coins (which could be from a few days to several months).
Check out the Southern Gold Society
Need more $$$ for coins?
<< <i>If they sold them individually they could make even more money charging the outrageous shipping fee!!! >>
Whose outrageous shipping fee? The US Mint's?
Funny, but I don't find it outrageous. I routinely order $300+ worth of stuff (I just had to return some and it cost me $14 to return it to them...and I am getting that reimbursed).
So, it cost me $3.95 to have it sent to me but 3x that to send it back and you call $3.95 outrageous? Maybe it is if you nickel and dime things and buy just 1 thing at a time.
I try to combine my purchases though. Makes more economical sense.
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
Would I pay $15.00 plus shipping to the mint for a Silver Eagle - sure would if that was the only outlet for the new coins. Maybe there would be fewer minted and they would have more long term value.
Oscar Wilde
Collect for the love of the hobby, the beauty of the coins, and enjoy the ride.
Clothes make the man. Naked people have little or no influence on society.
You too can buy them directly from the Mint if you want.
Just tell them how many tons you want to order.
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since 8/1/6
<< <i>Why is it that individuals cannot buy uncirculated SAE's, and gold AE's from the mint? >>
Who would want too? They are all trouble waiting to happen.
Now, if you want to write to your congressman and senators about something, write about getting dead presidents off our coins, or eliminating the $1 bill in favor of the $1 coin.
<< <i>I believe the same excuses (higher cost, higher shipping) could be used to justify selling all mint products only to dealers. Most commemoratives go for about $36.00 plus shipping >>
First of all, compare the mintage of most modern commems (around 500k to 750k) to the mintage of SAEs per year (8-10 million per year). Secondly, they are making about 50 cents profit on each silver eagle, while they make about $25 profit on each modern commem.
Commems are intended to have numismatic value, so the mint can have large profit margins on those, but SAEs are intended to be bullion coins. Who would buy a one ounce silver bullion coin for $36? The mint has to sell them as close to spot as they can, and the only way to do that is to distribute them to large dealers.
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<< <i>Why is it that individuals cannot buy uncirculated SAE's, and gold AE's from the mint? >>
Who would want too? They are all trouble waiting to happen.
>>
Care to elaborate?
Jonathan