So if silver hits 30 bucks by the 6th were looking at minimum of 150 bucks per puck plus what kind of markup from the dealers ? and how fast would these sellout on the mints website when release comes next year madhouse.........................
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So these will be the 'Flipable' versions, right ;>
<< <i>A numismatic version of the three-inch, five-ounce silver coins, also minted in .999 silver, will be available for purchase directly from the United States Mint during the first quarter of 2011. The maximum mintage for these collector versions is set at 135,000 units-27,000 units for each of the five 2010 coins. The United States Mint will strike all 2010-dated numismatic coins by the end of the year, as required by law. Additional information about the release date and pricing for the America the Beautiful Five Ounce Uncirculated Coins will be available at a future date >>
Considering the low mintages, I'll be very surprised if retail customers will be able to obtain the 2010 issues for less than $200 each. Possibly they'll go much higher.
This is a gift from the Mint to the distributors. The Mint will most certainly charge $195 +/- a couple of bucks for the same coin with a W mint mark. The bullion distributors are not dumb, they will be asking $225 or more very quickly. Given their purchase price of $165ish, multiply that times 4,000 and you get a tidy profit. That number could be 3,000 per distributor as I am not certain if it is 33000/12 or divided by 10 or 8.
In any case it is a bonanza for the bullion distributors. They will all make 200K out of this program.
This could easily be a $300 coin, given that every type collector will need one.
Retired United States Mint guy, now working on an Everyman Type Set.
<< <i>This is a gift from the Mint to the distributors. The Mint will most certainly charge $195 +/- a couple of bucks for the same coin with a W mint mark. The bullion distributors are not dumb, they will be asking $225 or more very quickly. Given their purchase price of $165ish, multiply that times 4,000 and you get a tidy profit. That number could be 3,000 per distributor as I am not certain if it is 33000/12 or divided by 10 or 8. >>
The numismatic versions will be available directly from the mint - no distributors involved. Can't wait for the inevitable mint website slowdown!!!
And there will be a major meltdown of The Mint site on the release day of the "collector versions" - flipper heaven written all over these - not to menton that the first five may well be the series key. SUCKS that silver has to be so high when these are being issued....
<< <i>This is a gift from the Mint to the distributors. The Mint will most certainly charge $195 +/- a couple of bucks for the same coin with a W mint mark. The bullion distributors are not dumb, they will be asking $225 or more very quickly. Given their purchase price of $165ish, multiply that times 4,000 and you get a tidy profit. That number could be 3,000 per distributor as I am not certain if it is 33000/12 or divided by 10 or 8.
In any case it is a bonanza for the bullion distributors. They will all make 200K out of this program.
This could easily be a $300 coin, given that every type collector will need one. >>
I agree with you! The best deal on the planet now is to be one of the Mint's authorized distributors of bullion!
An authorized PCGS dealer, and a contributor to the Red Book.
I asked Apmex when they will be accepting pre-sale orders of the hockey pucks, and they still do not know. Their suggestion was to sign up for their "alert me" notification.
<< <i>Might be that the 5 "boxes of 100" that MsM's working on will be a great deal just as a way for us to get our copies. >>
I hope the He11 so!
I'm trying to get just the wholesalers' markups, but no one is talking.
"Won't know until Monday"
So, we all are waiting on these things to go on sale to know pricing. That is bad because these things sell on the same day. It's not a matter of first, it's a matter of keeping the deal intact.
I'm not sure how to proceed from here. How can I ask anyone to send a check without even a ballpark???
<< <i>I'm trying to get just the wholesalers' markups, but no one is talking.
"Won't know until Monday"
So, we all are waiting on these things to go on sale to know pricing. That is bad because these things sell on the same day. It's not a matter of first, it's a matter of keeping the deal intact.
I'm not sure how to proceed from here. How can I ask anyone to send a check without even a ballpark??? >>
The smoothest way would probably be having enough credit to make the purchase and then have the commited buyers send you payment while the silver is being shipped to you.
<< <i>I'm not sure how to proceed from here. How can I ask anyone to send a check without even a ballpark??? >>
I was wondering myself how you would be handling this. Most bullion dealers charge an extra fee if you pay by cc, which most likely will offset the savings of your bulk order. Personally, I believe you chewed on more than you can handle & should consider null & voiding your venture. Potential upfront cost to you will be in the 5 figure range.
I'll make is easy on you by canceling my order for 2 sets with you.
"Bongo drive 1984 Lincoln that looks like old coin dug from ground."
<< <i>I'm not sure how to proceed from here. How can I ask anyone to send a check without even a ballpark??? >>
I was wondering myself how you would be handling this. Most bullion dealers charge an extra fee if you pay by cc, which most likely will offset the savings of your bulk order. Personally, I believe you chewed on more than you can handle & should consider null & voiding your venture. Potential upfront cost to you will be in the 5 figure range.
I'll make is easy on you by canceling my order for 2 sets with you. >>
Yep... They are going to go for many multiples over melt very quickly, perhaps into the thousands of dollars each. Unfortunately, there are going to be lots of disappointed collectors who get shut out. Hope I'm not one of them
<< <i>I would have no problem sending you a check for $200 each for my 10, and working the details out later, if it means keeping the deal together. >>
Me too. I was in for 5 and if they can be had for $1,000 - no problem sending a check.
This sets up an interesting situation. You have the bullion issue with a limited quantity just a little higher than the numismatic issue. Since bullion varieties usually exist in high numbers will they be a "hotter" item than the Mint issue even though the numismatic issue will have a lower mintage and possibly a better presentation?
Gold and silver are valuable but wisdom is priceless.
I am wanting about two coins and unfortunately was not able to commit to the required minimum of 5 on this deal. I still follow this post though. With any luck APMEX will have a couple I can order.
<< <i>This sets up an interesting situation. You have the bullion issue with a limited quantity just a little higher than the numismatic issue. Since bullion varieties usually exist in high numbers will they be a "hotter" item than the Mint issue even though the numismatic issue will have a lower mintage and possibly a better presentation? >>
Is there any forcast when these will be listed on the mint website? I do not see anything listed on the site now and it is December has already begun.
<< <i>This sets up an interesting situation. You have the bullion issue with a limited quantity just a little higher than the numismatic issue. Since bullion varieties usually exist in high numbers will they be a "hotter" item than the Mint issue even though the numismatic issue will have a lower mintage and possibly a better presentation? >>
Both examples of each coin will be needed in order to complete a full set. These things are going to go be going for crazy money out of the gate. Perhaps, a few years down the road, when the new wears off, they can be had for a fraction of the cost, but then again, who the heck knows?
<< <i>This sets up an interesting situation. You have the bullion issue with a limited quantity just a little higher than the numismatic issue. Since bullion varieties usually exist in high numbers will they be a "hotter" item than the Mint issue even though the numismatic issue will have a lower mintage and possibly a better presentation? >>
Would this be the first modern bullion coin not minted to demand? By bullion, I mean those available only from authorized bullion dealers, not the US Mint.
<< This sets up an interesting situation. You have the bullion issue with a limited quantity just a little higher than the numismatic issue. Since bullion varieties usually exist in high numbers will they be a "hotter" item than the Mint issue even though the numismatic issue will have a lower mintage and possibly a better presentation? >>
Is there any forcast when these will be listed on the mint website? I do not see anything listed on the site now and it is December has already begun.
Looks like the first quarter next year according to the Mint.
Gold and silver are valuable but wisdom is priceless.
Looks like I will be buying these from the mint. I wonder if they will limit them to one per customer. Hoping they will offer the complete set. If you have to buy these individually on the day of sale, I will probably get shut out on one or two. 27K is not much for each issue.
<< <i>The # of dealers listed on the mint site is 329 local dealers and 21 national dealers 350 total.
At 33,000 of each coin that leaves less than 100 per coin per dealer.
Try getting these under $200. No way. >>
A couple of wholesalers have speculated these will be hot.
Each hinted these may carry large premiums. One dealer suggested they may not go for wholesale prices, but may go for retail prices.
Is everyone still interested in pursuing this at "retail prices?" (There won't be pricing until maybe monday. I've got my fingers crossed that I can score these on Monday, or the day they are first released from the wholesaler.)
<< <i>The # of dealers listed on the mint site is 329 local dealers and 21 national dealers 350 total.
At 33,000 of each coin that leaves less than 100 per coin per dealer.
Try getting these under $200. No way. >>
A couple of wholesalers have speculated these will be hot.
Each hinted these may carry large premiums. One dealer suggested they may not go for wholesale prices, but may go for retail prices.
Is everyone still interested in pursuing this at "retail prices?" (There won't be pricing until maybe monday. I've got my fingers crossed that I can score these on Monday, or the day they are first released from the wholesaler.) >>
You might expect some bug-outs when the price is set.
Gold and silver are valuable but wisdom is priceless.
Just talked to a local bullion dealer illinois he said they would start taking orders maybe next week after there able to figure out what price they have to pay on monday, also mentioned they would probally not even get them till the first of the year. I was told to call back next week and try to get on a list. So i say keep trying to get a deal with someone till monday and i would suggest other forum members to call there local dealer next week and lets see what the prices are going to be...........................
<< <i>These buyers will purchase the 5 ounce coins beginning on December 6 in quantities of 10,000 ounces/2,000 coins >>
If they have to buy in these quantities, only a few will be selling them.
<< <i> They will pay the spot price of silver, plus an extra US Mint premium of $9.75 per coin >>
Buying at a set price...and then
<< <i>They will then offer the coins to the public for "as narrow a spread between buy and sell prices as prudent business judgment permits" and "in a manner which ensures that that they will be available, accessible, and affordable to all members of the public." >>
All 33000 members of the public get one.
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<< <i>The # of dealers listed on the mint site is 329 local dealers and 21 national dealers 350 total.
At 33,000 of each coin that leaves less than 100 per coin per dealer.
Try getting these under $200. No way. >>
A couple of wholesalers have speculated these will be hot.
Each hinted these may carry large premiums. One dealer suggested they may not go for wholesale prices, but may go for retail prices.
Is everyone still interested in pursuing this at "retail prices?" (There won't be pricing until maybe monday. I've got my fingers crossed that I can score these on Monday, or the day they are first released from the wholesaler.) >>
What are retail prices? Are we talking $200 per or more?
<< <i>The # of dealers listed on the mint site is 329 local dealers and 21 national dealers 350 total.
At 33,000 of each coin that leaves less than 100 per coin per dealer.
Try getting these under $200. No way. >>
A couple of wholesalers have speculated these will be hot.
Each hinted these may carry large premiums. One dealer suggested they may not go for wholesale prices, but may go for retail prices.
Is everyone still interested in pursuing this at "retail prices?" (There won't be pricing until maybe monday. I've got my fingers crossed that I can score these on Monday, or the day they are first released from the wholesaler.) >>
What are retail prices? Are we talking $200 per or more? >>
No one is sure, but it may not be simply spot plus. It could be $200 or more. We'll have to see when the wholesalers put them on sale.
The pricing structure on these bullion coins could turn out to be a fiasco. They will pass between 3 different sets of hands before you can get one. If they turn out to be popular, it will only make the distribution structure look less viable.
The bullion program was intended to allow regular folks to acquire bullion at reasonable markups, but that goal seems to have been blown sky-high already. What I don't understand is how this could be any different than the Silver Eagle bullion program in terms of the markups, and why the Mint wouldn't enforce some type of cost standards for distribution.
Q: Are You Printing Money? Bernanke: Not Literally
Comments
I used to be famous now I just collect coins.
Link to My Registry Set.
https://pcgs.com/setregistry/quarters/washington-quarters-specialty-sets/washington-quarters-complete-variety-set-circulation-strikes-1932-1964/publishedset/78469
Varieties Are The Spice Of LIFE and Thanks to Those who teach us what to search For.
This wasn't mentioned in the press release. If this is correct, we're looking like at least a $20 markup per coin depending on the retail cost.
At today's spot price, that's $142 spot + $9.75 + $10(?) = ~$162 each.
<< <i>A numismatic version of the three-inch, five-ounce silver coins, also minted in .999 silver, will be available for purchase directly from the United States Mint during the first quarter of 2011. The maximum mintage for these collector versions is set at 135,000 units-27,000 units for each of the five 2010 coins. The United States Mint will strike all 2010-dated numismatic coins by the end of the year, as required by law. Additional information about the release date and pricing for the America the Beautiful Five Ounce Uncirculated Coins will be available at a future date >>
<< <i>At today's spot price, that's $142 spot + $9.75 + $10(?) = ~$162 each. >>
Considering the low mintages, I'll be very surprised if retail customers will be able to obtain the 2010 issues for less than $200 each. Possibly they'll go much higher.
My Adolph A. Weinman signature
In any case it is a bonanza for the bullion distributors. They will all make 200K out of this program.
This could easily be a $300 coin, given that every type collector will need one.
<< <i>This is a gift from the Mint to the distributors. The Mint will most certainly charge $195 +/- a couple of bucks for the same coin with a W mint mark. The bullion distributors are not dumb, they will be asking $225 or more very quickly. Given their purchase price of $165ish, multiply that times 4,000 and you get a tidy profit. That number could be 3,000 per distributor as I am not certain if it is 33000/12 or divided by 10 or 8. >>
The numismatic versions will be available directly from the mint - no distributors involved. Can't wait for the inevitable mint website slowdown!!!
mbogoman
https://pcgs.com/setregistry/collectors-showcase/classic-issues-colonials-through-1964/zambezi-collection-trade-dollars/7345Asesabi Lutho
<< <i>This is a gift from the Mint to the distributors. The Mint will most certainly charge $195 +/- a couple of bucks for the same coin with a W mint mark. The bullion distributors are not dumb, they will be asking $225 or more very quickly. Given their purchase price of $165ish, multiply that times 4,000 and you get a tidy profit. That number could be 3,000 per distributor as I am not certain if it is 33000/12 or divided by 10 or 8.
In any case it is a bonanza for the bullion distributors. They will all make 200K out of this program.
This could easily be a $300 coin, given that every type collector will need one. >>
I agree with you! The best deal on the planet now is to be one of the Mint's authorized distributors of bullion!
An authorized PCGS dealer, and a contributor to the Red Book.
December 6th
–John Adams, 1826
<< <i>Might be that the 5 "boxes of 100" that MsM's working on will be a great deal just as a way for us to get our copies. >>
I hope the He11 so!
I'm trying to get just the wholesalers' markups, but no one is talking.
"Won't know until Monday"
So, we all are waiting on these things to go on sale to know pricing. That is bad because these things sell on the same day. It's not a matter of first, it's a matter of keeping the deal intact.
I'm not sure how to proceed from here. How can I ask anyone to send a check without even a ballpark???
<< <i>I'm trying to get just the wholesalers' markups, but no one is talking.
"Won't know until Monday"
So, we all are waiting on these things to go on sale to know pricing. That is bad because these things sell on the same day. It's not a matter of first, it's a matter of keeping the deal intact.
I'm not sure how to proceed from here. How can I ask anyone to send a check without even a ballpark??? >>
The smoothest way would probably be having enough credit to make the purchase and then have the commited buyers send you payment while the silver is being shipped to you.
<< <i> I'm not sure how to proceed from here. How can I ask anyone to send a check without even a ballpark??? >>
I would have no problem sending you a check for $200 each for my 10, and working the details out later, if it means keeping the deal together.
33,000
11 wholesalers
you do the math.
it was only rumor until now.
<< <i>I'm not sure how to proceed from here. How can I ask anyone to send a check without even a ballpark??? >>
I was wondering myself how you would be handling this. Most bullion dealers charge an extra fee if you pay by cc, which most likely will offset the savings of your bulk order. Personally, I believe you chewed on more than you can handle & should consider null & voiding your venture. Potential upfront cost to you will be in the 5 figure range.
I'll make is easy on you by canceling my order for 2 sets with you.
<< <i>How close are you to having two boxes (200 coins) of each design? >>
far from it.
!'m at about 125 - 130
<< <i>
<< <i>I'm not sure how to proceed from here. How can I ask anyone to send a check without even a ballpark??? >>
I was wondering myself how you would be handling this. Most bullion dealers charge an extra fee if you pay by cc, which most likely will offset the savings of your bulk order. Personally, I believe you chewed on more than you can handle & should consider null & voiding your venture. Potential upfront cost to you will be in the 5 figure range.
I'll make is easy on you by canceling my order for 2 sets with you. >>
I'm not letting the fat lady sing yet.
I'm working the phones on getting this done.
<< <i>I would have no problem sending you a check for $200 each for my 10, and working the details out later, if it means keeping the deal together. >>
Me too. I was in for 5 and if they can be had for $1,000 - no problem sending a check.
Both the bullion and numismatic versions of these coins are legal tender
So these whoppers will be worth 25 cents if we go to spend them?
Wonder if they'll make the post office accept them in their vending machines....
<< <i>This sets up an interesting situation. You have the bullion issue with a limited quantity just a little higher than the numismatic issue. Since bullion varieties usually exist in high numbers will they be a "hotter" item than the Mint issue even though the numismatic issue will have a lower mintage and possibly a better presentation? >>
Is there any forcast when these will be listed on the mint website? I do not see anything listed on the site now and it is December has already begun.
<< <i>This sets up an interesting situation. You have the bullion issue with a limited quantity just a little higher than the numismatic issue. Since bullion varieties usually exist in high numbers will they be a "hotter" item than the Mint issue even though the numismatic issue will have a lower mintage and possibly a better presentation? >>
Both examples of each coin will be needed in order to complete a full set. These things are going to go be going for crazy money out of the gate. Perhaps, a few years down the road, when the new wears off, they can be had for a fraction of the cost, but then again, who the heck knows?
<< <i>This sets up an interesting situation. You have the bullion issue with a limited quantity just a little higher than the numismatic issue. Since bullion varieties usually exist in high numbers will they be a "hotter" item than the Mint issue even though the numismatic issue will have a lower mintage and possibly a better presentation? >>
Would this be the first modern bullion coin not minted to demand? By bullion, I mean those available only from authorized bullion dealers, not the US Mint.
Is there any forcast when these will be listed on the mint website? I do not see anything listed on the site now and it is December has already begun.
Looks like the first quarter next year according to the Mint.
At 33,000 of each coin that leaves less than 100 per coin per dealer.
Try getting these under $200. No way.
Joe
Box of 20
<< <i>The # of dealers listed on the mint site is 329 local dealers and 21 national dealers 350 total.
At 33,000 of each coin that leaves less than 100 per coin per dealer.
Try getting these under $200. No way. >>
A couple of wholesalers have speculated these will be hot.
Each hinted these may carry large premiums. One dealer suggested they may not go for wholesale prices, but may go for retail prices.
Is everyone still interested in pursuing this at "retail prices?" (There won't be pricing until maybe monday. I've got my fingers crossed that I can score these on Monday, or the day they are first released from the wholesaler.)
<< <i>Looks like I will be buying these from the mint. I wonder if they will limit them to one per customer. Can't wait. >>
Looks like the mom,dad,sister,brother,trusted cousins and inlaws network may once again need to be activated.
<< <i>
<< <i>The # of dealers listed on the mint site is 329 local dealers and 21 national dealers 350 total.
At 33,000 of each coin that leaves less than 100 per coin per dealer.
Try getting these under $200. No way. >>
A couple of wholesalers have speculated these will be hot.
Each hinted these may carry large premiums. One dealer suggested they may not go for wholesale prices, but may go for retail prices.
Is everyone still interested in pursuing this at "retail prices?" (There won't be pricing until maybe monday. I've got my fingers crossed that I can score these on Monday, or the day they are first released from the wholesaler.) >>
You might expect some bug-outs when the price is set.
I used to be famous now I just collect coins.
Link to My Registry Set.
https://pcgs.com/setregistry/quarters/washington-quarters-specialty-sets/washington-quarters-complete-variety-set-circulation-strikes-1932-1964/publishedset/78469
Varieties Are The Spice Of LIFE and Thanks to Those who teach us what to search For.
<< <i>These buyers will purchase the 5 ounce coins beginning on December 6 in quantities of 10,000 ounces/2,000 coins >>
If they have to buy in these quantities, only a few will be selling them.
<< <i> They will pay the spot price of silver, plus an extra US Mint premium of $9.75 per coin >>
Buying at a set price...and then
<< <i>They will then offer the coins to the public for "as narrow a spread between buy and sell prices as prudent business judgment permits" and "in a manner which ensures that that they will be available, accessible, and affordable to all members of the public." >>
All 33000 members of the public get one.
<< <i>I'm still interested. If "retail" pricing runs much over $200, we might be better off buying directly from the mint though.
Well, there are bullion coins and numismatic coins.
the bullion will only be available from dealers.
That's what we're getting.
The numismatic versions will come out early next year directly from the mint.
<< <i>
<< <i>The # of dealers listed on the mint site is 329 local dealers and 21 national dealers 350 total.
At 33,000 of each coin that leaves less than 100 per coin per dealer.
Try getting these under $200. No way. >>
A couple of wholesalers have speculated these will be hot.
Each hinted these may carry large premiums. One dealer suggested they may not go for wholesale prices, but may go for retail prices.
Is everyone still interested in pursuing this at "retail prices?" (There won't be pricing until maybe monday. I've got my fingers crossed that I can score these on Monday, or the day they are first released from the wholesaler.) >>
What are retail prices? Are we talking $200 per or more?
<< <i>What are retail prices? Are we talking $200 per or more? >>
We should know a lot more next week. I gotta believe $200/ea will be a minimum to start from..........
<< <i>
<< <i>What are retail prices? Are we talking $200 per or more? >>
We should know a lot more next week. I gotta believe $200/ea will be a minimum to start from.......... >>
That will be a 30% mark up on each coin!
<< <i>
<< <i>
<< <i>The # of dealers listed on the mint site is 329 local dealers and 21 national dealers 350 total.
At 33,000 of each coin that leaves less than 100 per coin per dealer.
Try getting these under $200. No way. >>
A couple of wholesalers have speculated these will be hot.
Each hinted these may carry large premiums. One dealer suggested they may not go for wholesale prices, but may go for retail prices.
Is everyone still interested in pursuing this at "retail prices?" (There won't be pricing until maybe monday. I've got my fingers crossed that I can score these on Monday, or the day they are first released from the wholesaler.) >>
What are retail prices? Are we talking $200 per or more? >>
No one is sure, but it may not be simply spot plus. It could be $200 or more. We'll have to see when the wholesalers put them on sale.
The bullion program was intended to allow regular folks to acquire bullion at reasonable markups, but that goal seems to have been blown sky-high already. What I don't understand is how this could be any different than the Silver Eagle bullion program in terms of the markups, and why the Mint wouldn't enforce some type of cost standards for distribution.
I knew it would happen.