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Do any dealers or master dealers buy at wholesale from US Mint?

Does the US Mint give price breaks in bulkfor US Mint products to any dealers or master dealers (distributors)?

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  • I believe they have a dealer program. You have to commit to something like $50,000 per year
    and then get something like a 5% discount.

    Ken
  • Conder101Conder101 Posts: 10,536
    They have had bulk programs from time to time. In some cases they were open to anyone, other times they were only for dealers. The last one they had was very complicated and the savings were minimal. I don't believe they have a bulk program operating at this time.

    I think the reason for the complicated system was because their first program was for proof sets and was open to anyone. It provided a significant savings. Proof sets were $13 at the time but if you bought 100,000 sets they were $9. One dealer bought a million sets, wholesaled them in smaller lots to other dealers, and everyone was selling current sets that the mint was selling for $13, for $11.
  • ebaytraderebaytrader Posts: 3,312 ✭✭✭
    The only current program is for BU ASE.
  • PerryHallPerryHall Posts: 45,191 ✭✭✭✭✭


    << <i>Does the US Mint give price breaks in bulkfor US Mint products to any dealers or master dealers (distributors)? >>



    What are "master dealers"? Is that anything like "power sellers"?

    Worry is the interest you pay on a debt you may not owe.

  • cladkingcladking Posts: 28,230 ✭✭✭✭✭
    There are a lot of specialist dealers who buy bulk from the mint at regular price or
    a discount to bust the sets up. Some products like the silver proof sets will have
    a 25% attrition rate the first year because of this activity. There is a growing market
    for supplying the coins which keep sets up to date. This primarily involves the states
    coins, Kennedys, and cents but dealers want all the coins for retail (and to make sets).
    Tempus fugit.
  • mnmcoinmnmcoin Posts: 2,165
    I am currently a bulk dealer with the US mint, it is for a number of different coins, mostly all of the proof coins that come out, ie. silver, gold and platinum eagles, but only the proof versions, also for all of the proof set products...quarter sets, proof annual clad and silver sets and the mint sets. The "discount" is actually 5% but actually you net 4% because the shipping is a 1% charge of what is ordered. There is currently a $5,000 per order minimum.

    The only current program is for BU ASE.

    I am aware of no such program other than the standard distribution channels of this coin, which is the same for ASE, AGE and the APE.

    morris <><
    "Repent, for the kindom of heaven is at hand."
    ** I would take a shack on the Rock over a castle in the sand !! **
    Don't take life so seriously...nobody gets out alive.

    ALL VALLEY COIN AND JEWELRY
    28480 B OLD TOWN FRONT ST
    TEMECULA, CA 92590
    (951) 757-0334

    www.allvalleycoinandjewelry.com
  • am aware of no such program other than the standard distribution channels of this coin, which is the same for ASE, AGE and the APE

    The United States Mint does not sell its bullion coins directly to the public. Instead, the United States Mint distributes the coins in bulk, through a network of official distributors called Authorized Purchasers who, in turn, sell them to secondary retailers.

    To become a United States Mint Authorized Purchaser, your firm must meet the following financial and professional criteria, which must be attested to by an internationally accepted accounting firm.

    Be an experienced and established market-maker in gold/platinum and/or silver bullion coins.
    Provide a liquid two-way market for the coins.
    Be audited annually by an internationally-accepted accounted firm.
    Have an established broad base of retail customer base in which to distribute the coins.
    Have a tangible net worth of $50 million for Gold and Platinum Eagles, and $5 million for Silver Eagles. This requirement may be met using letter of credit.
    Have sold over 100,000 ounces of gold bullion coins over any twelve-month period since 1990. (This criterion is for becoming a United States Mint Authorized Purchaser of gold bullion.)

    From the US Mint Website

    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).


  • Thats why dealers hate selling American Eagles, they can't make any money on them. i throwup when my phone rings and i hear........... HOW MUCH WOULD IT COST FOR 3 AMERICAN EAGLES?? AND I'M GONNA CALL 3 OTHER PLACES, AND IF YOUR PRICE IS CHEAPER THAN THEIRS I'LL BUYEM!!! i just gently hangup the phoneimage
  • mnmcoinmnmcoin Posts: 2,165


    << <i> am aware of no such program other than the standard distribution channels of this coin, which is the same for ASE, AGE and the APE

    The United States Mint does not sell its bullion coins directly to the public. Instead, the United States Mint distributes the coins in bulk, through a network of official distributors called Authorized Purchasers who, in turn, sell them to secondary retailers.

    To become a United States Mint Authorized Purchaser, your firm must meet the following financial and professional criteria, which must be attested to by an internationally accepted accounting firm.

    Be an experienced and established market-maker in gold/platinum and/or silver bullion coins.
    Provide a liquid two-way market for the coins.
    Be audited annually by an internationally-accepted accounted firm.
    Have an established broad base of retail customer base in which to distribute the coins.
    Have a tangible net worth of $50 million for Gold and Platinum Eagles, and $5 million for Silver Eagles. This requirement may be met using letter of credit.
    Have sold over 100,000 ounces of gold bullion coins over any twelve-month period since 1990. (This criterion is for becoming a United States Mint Authorized Purchaser of gold bullion.)

    From the US Mint Website

    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). >>



    Thanks for typing the distribution process for me, I didn't feel like typing it out.

    It is also important to note, that most people can't deal directly with one of the seven US distributors either. They have to go down a little further on the chain.

    morris <><
    "Repent, for the kindom of heaven is at hand."
    ** I would take a shack on the Rock over a castle in the sand !! **
    Don't take life so seriously...nobody gets out alive.

    ALL VALLEY COIN AND JEWELRY
    28480 B OLD TOWN FRONT ST
    TEMECULA, CA 92590
    (951) 757-0334

    www.allvalleycoinandjewelry.com
  • CSN is offering the 2023 Peace Dollar Proof for $79.95 the Mint issue price was $80.00. Doubt hey are seliingat their cost.

  • jmlanzafjmlanzaf Posts: 31,264 ✭✭✭✭✭

    @sda1951 said:
    CSN is offering the 2023 Peace Dollar Proof for $79.95 the Mint issue price was $80.00. Doubt hey are seliingat their cost.

    The discount bulk buyers get is pitiful. They are likely losing money at $79.95 when costs are considered unless they charge significant shipping and handling.

  • BStrauss3BStrauss3 Posts: 3,029 ✭✭✭✭✭

    @clevegreg said:
    From the US Mint Website

    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).

    That is outdated, from a 2002 presser. https://www.usmint.gov/news/press-releases/20020807-mint-announces-new-authorized-purchaser-of-american-eagle-silver-bullion-coins

    A CoinWorld article from 2018 said twelve. https://www.usmint.gov/news/press-releases/20020807-mint-announces-new-authorized-purchaser-of-american-eagle-silver-bullion-coins

    Nine of the 12 APs are located in the geographic United States, two are located in Europe and one is headquartered in Japan. The vendors, their location, and the bullion coinage the Mint has authorized each to purchase are: A-Mark Precious Metals; Santa Monica, California; silver, gold, platinum. Jack Hunt Coin Broker; Buffalo, New York ; silver, gold, platinum. Coins 'N Things; Bridgewater, Massachusetts; silver, gold, platinum. Fidelitrade; Wilmington, Delaware; silver, gold, platinum. Dillon Gage Inc.; Dallas, Texas; silver, gold, platinum. Manfra, Tordella & Brookes, Inc., MTB; New York City; silver, gold, platinum. American Precious Metals Exchange, APMEX; Oklahoma City, Oklahoma; silver, gold, platinum. The Gold Center; Springfield, Illinois; silver only. ScotiaMocatta; New York City; silver, gold, platinum. Deutsche Bank AG; Frankfurt, Germany; silver, gold, platinum. Bayerische Landesbank; Munich, Germany; silver, gold, platinum. Tanaka Kinkkinzoku Kogyo K.K.; Tokyo, Japan; gold and platinum

    I believe this has the current AP requirements: https://www.usmint.gov/news/consumer-alerts/business-guidelines/authorized-purchaser-program

    -----Burton
    ANA 50 year/Life Member (now "Emeritus")
  • MetroDMetroD Posts: 1,914 ✭✭✭✭✭
    edited January 28, 2024 11:11AM

    @sda1951 said:
    CSN is offering the 2023 Peace Dollar Proof for $79.95 the Mint issue price was $80.00. Doubt hey are seliingat their cost.

    Old Thread Alert

    Here is an overview of the "numismatic bulk purchase program", complete with "discount tiers". The 2023 Proof Peace was available as a bulk item (i.e., 23XL040).

    Edited to Add (From section #3 of the "NUMISMATIC BULK PURCHASE APPLICATION AND AGREEMENT"):

    Source: https://catalog.usmint.gov/on/demandware.static/-/Sites-USM-Library/default/dwf3d711ea/images/PDFs/bulk-purchase-agreement-form-v2.pdf

  • jmlanzafjmlanzaf Posts: 31,264 ✭✭✭✭✭

    @MetroD said:

    @sda1951 said:
    CSN is offering the 2023 Peace Dollar Proof for $79.95 the Mint issue price was $80.00. Doubt hey are seliingat their cost.

    Old Thread Alert

    Here is an overview of the "numismatic bulk purchase program", complete with "discount tiers". The 2023 Proof Peace was available as a bulk item (i.e., 23XL040).

    Edited to Add (From section #3 of the "NUMISMATIC BULK PURCHASE APPLICATION AND AGREEMENT"):

    Source: https://catalog.usmint.gov/on/demandware.static/-/Sites-USM-Library/default/dwf3d711ea/images/PDFs/bulk-purchase-agreement-form-v2.pdf

    That's what a meant by pitiful. Imagine being a high volume customer and getting a 5% discount! I'd give you a 5% discount just to be able to combine shipments. smh...

  • NJCoinNJCoin Posts: 1,340 ✭✭✭✭✭
    edited January 28, 2024 3:35PM

    @sda1951 said:
    CSN is offering the 2023 Peace Dollar Proof for $79.95 the Mint issue price was $80.00. Doubt hey are seliingat their cost.

    Yeah, but it's close. Demand was clearly not what they were expecting, and they are apparently just looking to get rid of them. After all, they are still not sold out at the Mint!

    Their business model is not selling anything at anything close to their cost. Really doesn't matter whether their cost was $70, $80, etc.

    A dealer like CSN selling anything at Mint issue price, other than proof sets 30 years later when they don't do anything, means the coins are dogs that they want to liquidate. Assuming that's the case, why would it be unbelievable for them to be selling at their cost?

    What's the alternative? Melt them, or tie up capital sitting on them indefinitely? They could never wholesale them out at their cost, this much after release, when they are still available from the Mint.

    Even so, no need to throw a fundraiser for them. My guess would be these are the returns from what they sent in for PR 70 minimum grades, and they just want to get rid of them. They still made a ton of money, given what they sold the coins in slabs for.

  • BAJJERFANBAJJERFAN Posts: 30,959 ✭✭✭✭✭

    The APs like APMEX might buy 125,000 at whatever the current premium over spot is. They have the mint drop ship them to PCGS for one.

    Remember the pic of the PCGS receiving room that had at least 125,000 2014 ASEs in monster boxes on pallets.

  • MetroDMetroD Posts: 1,914 ✭✭✭✭✭

    @BAJJERFAN said:
    The APs like APMEX might buy 125,000 at whatever the current premium over spot is. They have the mint drop ship them to PCGS for one.

    Remember the pic of the PCGS receiving room that had at least 125,000 2014 ASEs in monster boxes on pallets.

    A NOV-2023 CW article summarized the premiums paid by, and the minimums imposed on, the 'authorized purchasers' of bullion:

    Source: https://www.coinworld.com/news/precious-metals/u-s-bullion-coins-sales-in-2023-mixed-in-latest-report

  • BAJJERFANBAJJERFAN Posts: 30,959 ✭✭✭✭✭

    @MetroD said:

    @BAJJERFAN said:
    The APs like APMEX might buy 125,000 at whatever the current premium over spot is. They have the mint drop ship them to PCGS for one.

    Remember the pic of the PCGS receiving room that had at least 125,000 2014 ASEs in monster boxes on pallets.

    A NOV-2023 CW article summarized the premiums paid by, and the minimums imposed on, the 'authorized purchasers' of bullion:

    Source: https://www.coinworld.com/news/precious-metals/u-s-bullion-coins-sales-in-2023-mixed-in-latest-report

    For ASEs it used to be $2 over, but I know that they raised it, but I didn't bother to check. I know it would be hard for the average dude to make any money trying to flip them.

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