Just curious... How does one become an "authorized dealer" of the Mint?

HonoluluDude

I was just thinking that the dealers authorized to sell the gold buffaloes in bulk
stand to make a killing off of the premiums.

How many of you guys are authorized to sell Mint bullion products?

BigTom

I'm curious as well. Someone is selling them on the BST board for ~18% over spot right now. But that includes PCGS grading fees.

Jcarney

From the Mint's web site:

Our minimum ordering requirement for gold and platinum is 1,000 ounces, and for silver is 25,000 ounces. To become an authorized purchaser, you must:

be an experienced and established market-maker in gold/silver bullion coins;
provide a two-way market for the coins;
be audited annually by an internationally accepted accounting firm;
have established a broad base of retail customers in which to distribute the coins;
have a tangible net-worth of $50 million for Platinum and Gold Eagles and $5 million for Silver Eagles (this requirement may be met using a letter of credit);
and (for gold) have sold over 75,000 ounces of any bullion coin over any twelve month period since 1980.

BECOKA

At least they made the requirements pretty easy.

holadude

That's it? Sign me up!

ABC123

Short Answer: Have Tons of $$$$$ or Mega $$$$Credit Line !

HonoluluDude

<< <i>From the Mint's web site:

Our minimum ordering requirement for gold and platinum is 1,000 ounces, and for silver is 25,000 ounces. To become an authorized purchaser, you must:

have a tangible net-worth of $50 million for Platinum and Gold Eagles and $5 million for Silver Eagles (this requirement may be met using a letter of credit);
and (for gold) have sold over 75,000 ounces of any bullion coin over any twelve month period since 1980. >>



WOW!

holadude

What are the req's for mint and proof sets?

Jcarney

<< <i>What are the req's for mint and proof sets? >>



As far as I know, none. Dealers buy them the same way as collectors. And live with the same limits if imposed.

Compa

<< <i>Just curious... How does one become an "authorized dealer" of the Mint? >>



Alternative method ... political appointee (aren't all coin dealers Republicans? )

BECOKA

For the proof stuff the only requirement is that you have been in business for 5 years with references.

Dealers get a 5% discount on the mints website stuff.

Edited to add there is a minium $5000 purchase to get the discount.

Numisone

US Mint Bulk orders

ajia

Gotta have $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$