I notice Apmex sells the 2011 Year of the Rabbit 5 oz. silver coin for $172.65. I wonder if they would markup the ATB coins similarly. Does Apmex get their coins directly from the Mint?
<< <i>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. >>
The forum will be buzzing with compliants about how the mint is run if the dealers jack the prices up to much.
<< <i>if they made more of them, they wouldn't have people fighting for them. Then they'd trade more like bullion silver they were meant to be. >>
100,000 of each coin times 5 oz. times 5 designs equal 2.5 million oz.
They made 30 million oz. of Bullion eagles.
100,000 would make for a smoother distrobution.
33,000 of these is very small amount.
I believe you will have US Mint authorized distributors fighting over these not just collectors.
1. What person, yourself included would not buy all of these coins at $2 over spot per oz. (if you could put together the cash) Lock in on 12/6 price, before delivery silver content will probably be over your cost. (I believe most are still bullish on silver)
2. What dealer or business person would leave "money on the table" on any product they sell. (and they shouldn't) I believe some will price these too low to start and when orders kick in up goes the price. I am guessing maybe $225 out of the chute and quickly approach $300. Don't even want to see eBay prices.
3. It seems with a no-brainer money maker like this that distributors will buy all they are allowed
4. I do not know how many distributors the Mint has but no more than 80 can buy these because of a 2000 coin minimum.
The America the Beautiful Silver Bullion Coins are sold in bulk quantities to business firms approved by the United States Mint which have met the qualifying criteria discussed in Section V below. Approved firms can purchase these coins in the following quantities: - A minimum of 10,000 ounces (2,000 coins) of silver. Purchases above the minimum must be in 500-ounce (100-coin) increments, the standard packaged quantity. - However, the United States Mint reserves the right to sell less than the minimum quantity, impose a maximum order quantity and suspend all sales at any time as circumstances warrant.
Even at a $250 price I think these will be winners at 33.000 each. Probably will be at least 100,000 each for the following years.
I will try to buy 1 or 2 of these.
I too will wait for the "P" mint set to come out. What a day that will be.
<< <i>if they made more of them, they wouldn't have people fighting for them. Then they'd trade more like bullion silver they were meant to be. >>
I expect for future years' issues they will make enough to meet demand. >>
If I were a member of Congress who voted this in, I'd be upset they didn't make enough bullion and made some numismatic versions.
Of course the excuse would be that had the mint made 50,000 each, demand woud have not reached 40,000... but since they only made 33,000 demand spike on the feeding frenzy. But these are supposed to be bullion. If more than enough is made, then it is treated as bullion. Also, as it turns out, now it seems there will not be enough of either bullion nor numismatic versions.
Hmmm, I am still in on this deal unless the price is totally unmanageable...I think people should rightfully start resisting the 200 price for "an ordinary" coin (ie not FS 70 or proof/specimen/special strike).
Love that Milled British (1830-1960) Well, just Love coins, period.
<< 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??? >>
This is why we B&M's earn our money making this stuff available to people.
You are going to have to front some serious money to pay for the monster boxes (assuming you can get them). Figure a high estimated price and have everybody send you their check NOW. They have to get to you and clear before you can access the funds to pay the distributor. You can send refunds with the coins.
TD
Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
These will likely be upwards of $200 each for the bullion version. >>
Just remember that the 5 ounce Wabbits are made and distributed by professionals..........
Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
But that is a list of national retailers. They may or may not buy directly from the mint.
The following list of American Eagle and American Buffalo Gold Coin Program retailers is provided as a sampling of local, as well as national, American Eagle and American Buffalo Gold Coin Program retailers. Additional companies may be found in your local telephone book under "Coins" or "Gold."
The companies that appear on this list are neither affiliated with, nor are they official dealers of the United States Mint.
<< <i>I've seen the list of the mint's 12 or so U.S. bullion distributors and APMEX was on that list also. >>
It was not.
1. A-Mark Precious Metals, Los Angeles - Silver, Gold, Platinum 2. Dillon Guage Inc. Dallas - Silver Only 3. Jack Hunt Coin Brokers, Buffalo NY - Silver Only 4. Prudential Securities Inc. New York City - Silver, Gold, Platinum 5. The Gold Center, Springfield, Ill - Silver Only 6. Coin's 'N Things, Bridgewater MASS - Silver Only 7. Fidelitrade Inc, Wilmington Del - Silver Only 8. MTB, New York City - Silver, Gold, Platinum 9. SCB/Mocatta Bullion, New York City - Silver, Gold, Platinum
10. Commerzbank International, Luxembourg/New York City - Silver and Gold 11. Deutsche Bank AG, Frankfurt Germany - Silver, Gold Only 12. Union Bank of Switzerland, Zurich - Silver, Gold, Platinum
13. Hang Seng Bank, Hong Kong - Silver, Gold Only 14. Tinaka Kikinzoku Kogyo K.K., Tokyo - Gold, Platinum Only
10. Commerzbank International, Luxembourg/New York City - Silver and Gold 11. Deutsche Bank AG, Frankfurt Germany - Silver, Gold Only 12. Union Bank of Switzerland, Zurich - Silver, Gold, Platinum
13. Hang Seng Bank, Hong Kong - Silver, Gold Only 14. Tinaka Kikinzoku Kogyo K.K., Tokyo - Gold, Platinum Only
Why are we allowing banks in other countries to make money on our mint products? no comprende
"When the people fear their government, there is tyranny; when the government fears the people, there is liberty." Thomas Jefferson
Well, ya learn something new every day! I was familiar with the list of distributors, but until now I wasn't clear that there is also a list of US-Mint authorized dealers!
So the cherrypicking goes through 2 sets of hands before us lowly plebians can get our grubby mits on a "bullion coin".
I'm less and less enthralled with this program every day.
Q: Are You Printing Money? Bernanke: Not Literally
I would say some first tier distibutors will be allocating all to next level distributors.
I called Gold Center today and they said all of theirs were spoken for already.
When I talked to them in September, they were casual about the whole thing and just told me to call back when the coins were released. They didn't want to put my name on a waiting list or anything like that.
Q: Are You Printing Money? Bernanke: Not Literally
<< <i><< Does Apmex get their coins directly from the Mint? >> Yes. APMEX is one of the mint's bullion distributors. >> I didn't see their name on the list?? >> >>
I always thought APMEX was one of the distributors, too. Jeez, these things are going to be tough to grab. My thinking now is that the best opportunity for the little guy is going to be battling the rush on the mint server for the numismatic versions next year. I wonder what kind of ordering limits they'll place on these?...
I sure hope MsM is successful in his monster box attempt...
<< <i><< Does Apmex get their coins directly from the Mint? >> Yes. APMEX is one of the mint's bullion distributors. >> I didn't see their name on the list?? >> >>
I always thought APMEX was one of the distributors, too. Jeez, these things are going to be tough to grab. My thinking now is that the best opportunity for the little guy is going to be battling the rush on the mint server for the numismatic versions next year. I wonder what kind of ordering limits they'll place on these?...
I sure hope MsM is successful in his monster box attempt... >>
I agree with you, the best way will be to wait for the numismatic version. My only concern is: what kind of mark up will they put on those? (and where silver will be at that time!)
I will probably go make the line sunday night in front af Manfra Tordella & Brookes!
<< <i>I've seen the list of the mint's 12 or so U.S. bullion distributors and APMEX was on that list also. >>
It was not.
1. A-Mark Precious Metals, Los Angeles - Silver, Gold, Platinum 2. Dillon Guage Inc. Dallas - Silver Only 3. Jack Hunt Coin Brokers, Buffalo NY - Silver Only 4. Prudential Securities Inc. New York City - Silver, Gold, Platinum 5. The Gold Center, Springfield, Ill - Silver Only 6. Coin's 'N Things, Bridgewater MASS - Silver Only 7. Fidelitrade Inc, Wilmington Del - Silver Only 8. MTB, New York City - Silver, Gold, Platinum 9. SCB/Mocatta Bullion, New York City - Silver, Gold, Platinum
10. Commerzbank International, Luxembourg/New York City - Silver and Gold 11. Deutsche Bank AG, Frankfurt Germany - Silver, Gold Only 12. Union Bank of Switzerland, Zurich - Silver, Gold, Platinum
13. Hang Seng Bank, Hong Kong - Silver, Gold Only 14. Tinaka Kikinzoku Kogyo K.K., Tokyo - Gold, Platinum Only >>
Your list is dated...APMEX did become a dealer this year.
June 1, 2010 -- For Immediate Release
Oklahoma City, OK:
The American Precious Metals Exchange (www.APMEX.com), one of the nation’s largest online precious metals companies, has been selected by the U.S. Mint to become an Authorized Purchaser of United States Silver Bullion Coins.
"Bongo drive 1984 Lincoln that looks like old coin dug from ground."
<< <i> Your list is dated...APMEX did become a dealer this year.
June 1, 2010 -- For Immediate Release
Oklahoma City, OK:
The American Precious Metals Exchange (www.APMEX.com), one of the nation’s largest online precious metals companies, has been selected by the U.S. Mint to become an Authorized Purchaser of United States Silver Bullion Coins. >>
Thank you OPA! The list was in January's CW. I don't understand why the list of distributors (Authorized Purchasers as the Mint calls them) is not available to the public, at least I am not able to find it on the internet.
"Authorized Purchasers that will in turn make them available on the secondary market."
Looks like there are Authorized Purchasers of bullion from the Mint, these must be the big boys, kind of like the Federal Reserve Banks, who will then ditribute to other dealers and/or the public.
<< <i>I don't understand why the list of distributors (Authorized Purchasers as the Mint calls them) is not available to the public, at least I am not able to find it on the internet. >>
<< <i>I don't understand why the list of distributors (Authorized Purchasers as the Mint calls them) is not available to the public, at least I am not able to find it on the internet. >>
Thanks! But that should be the list of the authorized dealers, not the big guys (even though they are present in the list). I meant the list like the one I posted before, with the international purchasers included.
Even if I get funding, I'm afraid too many will back out once APMEX's price is listed, and I don't want to be stuck selling each one at a loss on eBay.
Even if I get funding, I'm afraid too many will back out once APMEX's price is listed, and I don't want to be stuck selling each one at a loss on eBay.
Sorry. >>
I don't blame you one bit. This is a game for deep pockets. My pockets are mostly filled with lint.
Gold and silver are valuable but wisdom is priceless.
Even if I get funding, I'm afraid too many will back out once APMEX's price is listed, and I don't want to be stuck selling each one at a loss on eBay.
Sorry. >>
MsM, Thank you for attempting this. Given the uncertaintly of pricing, I am concerned you could get stuck if people back out. Also, I question whether you could even fill the order given the limited supply. The mint wasn't our friend with these. Andrew
<< <i>I notice Apmex sells the 2011 Year of the Rabbit 5 oz. silver coin for $172.65. I wonder if they would markup the ATB coins similarly. Does Apmex get their coins directly from the Mint? >>
These coins will cost significantly more. Significantly. If they are initially sold under $500 each, I'll be surprised, and if the secondary market is under $500, I'll be shocked.
<< <i>I notice Apmex sells the 2011 Year of the Rabbit 5 oz. silver coin for $172.65. I wonder if they would markup the ATB coins similarly. Does Apmex get their coins directly from the Mint? >>
These coins will cost significantly more. Significantly. If they are initially sold under $500 each, I'll be surprised, and if the secondary market is under $500, I'll be shocked. >>
There is some excitement about these but I doubt there would be many buyers in that range. $100 silver?
Gold and silver are valuable but wisdom is priceless.
Thanks for the attempt at the bulk buy, MsMorrisine. I had a feeling once the low mintages were announced, it would be tough pulling this off.
To all: APMEX's shipping and handling charge is a base amount (based on the subtotal) plus 3% of the subtotal. So if you buy the set of 5, and their price is $200 each, the shipping and handling charge will be $54.95. If you pay by check, you get a 3% discount on the $54.95. It does not eliminate the 3% surcharge. Anyone have experience with other bullion dealers who might have a better out-the-door price?
<< <i>Thanks for the attempt at the bulk buy, MsMorrisine. I had a feeling once the low mintages were announced, it would be tough pulling this off.
To all: APMEX's shipping and handling charge is a base amount (based on the subtotal) plus 3% of the subtotal. So if you buy the set of 5, and their price is $200 each, the shipping and handling charge will be $54.95. If you pay by check, you get a 3% discount on the $54.95. It does not eliminate the 3% surcharge. Anyone have experience with other bullion dealers who might have a better out-the-door price? >>
I believe your calculation is wrong .... If you pay by cc, yes, there will be a 3% surcharge in addition to s&h fees. Paying by check or M.O. eliminates that surcharge. You will still be charged a s&h fee.
"Bongo drive 1984 Lincoln that looks like old coin dug from ground."
<< <i> I believe your calculation is wrong .... If you pay by cc, yes, there will be a 3% surcharge in addition to s&h fees. Paying by check or M.O. eliminates that surcharge. You will still be charged a s&h fee. >>
<< <i> I believe your calculation is wrong .... If you pay by cc, yes, there will be a 3% surcharge in addition to s&h fees. Paying by check or M.O. eliminates that surcharge. You will still be charged a s&h fee. >>
Correct. >>
Thanks for the clarification. Their FAQ is not very clear on this.
<< <i>Thanks for the clarification. Their FAQ is not very clear on this. >>
Yeah, I was also confused. Strict interpretation of their wording would give you a 3% discount on the shipping charges only, which is trivial. They need to get someone who writes English at better than a fifth grade level to re-write that clause.
<< <i>Thanks for the clarification. Their FAQ is not very clear on this. >>
Yeah, I was also confused. Strict interpretation of their wording would give you a 3% discount on the shipping charges only, which is trivial. They need to get someone who writes English at better than a fifth grade level to re-write that clause. >>
I agree, I thought the same thing when I first started dealing with them!
<< <i>Thanks for the clarification. Their FAQ is not very clear on this. >>
Yeah, I was also confused. Strict interpretation of their wording would give you a 3% discount on the shipping charges only, which is trivial. They need to get someone who writes English at better than a fifth grade level to re-write that clause. >>
I agree, I thought the same thing when I first started dealing with them! >>
The reason why their wording is as it is....it's against the law to add a fee if paying via a cc...
"Bongo drive 1984 Lincoln that looks like old coin dug from ground."
Has it been clearly established that Apmex is on the primary list of purchasers for 5 oz Nat. Parks? Just because they are among the numerous authorized purchasers does not necessarily mean they will be getting these directly. They might just as well be obtaining them secondarily.
The second question with Apmex is if they will cherry pick this issue. If they are submitting some of these to PCGS or NGC for grading, and they end up selling quantities of slabbed as well as raw examples, we can assume they cherry picked the best ones, and the raw ones they sell are rejects.
<< <i>Has it been clearly established that Apmex is on the primary list of purchasers for 5 oz Nat. Parks? Just because they are among the numerous authorized purchasers does not necessarily mean they will be getting these directly. They might just as well be obtaining them secondarily.
The second question with Apmex is if they will cherry pick this issue. If they are submitting some of these to PCGS or NGC for grading, and they end up selling quantities of slabbed as well as raw examples, we can assume they cherry picked the best ones, and the raw ones they sell are rejects. >>
Since they are one of the few Authorized Purchaser, they should get the first wave of pucks. They will then cherry pick them and sold the others. I am curious to see if they will offer their "Mint Direct" sealed tubes with such a low mintage.
<< <i>The second question with Apmex is if they will cherry pick this issue. If they are submitting some of these to PCGS or NGC for grading, and they end up selling quantities of slabbed as well as raw examples, we can assume they cherry picked the best ones, and the raw ones they sell are rejects >>
That certainly is possible, I am going to try and purchase a full roll of each, those they leave sealed (in the past). The question is will they limit quantity, sell only to regular customers, or possibly only to those who signed up for the "alert me" notification some time back (I did). Who knows? Has anyone talked to them on the phone about this?
First thanks to MsMorrisine for taking the time to try and put this together wish it would have worked out for all of us, talked to amex this morning and the lady told me to sign up for the alerts and when they know they will alert us...........
Comments
<< <i>if they made more of them, they wouldn't have people fighting for them. Then they'd trade more like bullion silver they were meant to be. >>
I expect for future years' issues they will make enough to meet demand.
My Adolph A. Weinman signature
<< <i>The milk spots on these will be the size of a pizza
<< <i>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. >>
<< <i>if they made more of them, they wouldn't have people fighting for them. Then they'd trade more like bullion silver they were meant to be. >>
100,000 of each coin times 5 oz. times 5 designs equal 2.5 million oz.
They made 30 million oz. of Bullion eagles.
100,000 would make for a smoother distrobution.
33,000 of these is very small amount.
I believe you will have US Mint authorized distributors fighting over these not just collectors.
1. What person, yourself included would not buy all of these coins at $2 over spot per oz. (if you could put together the cash)
Lock in on 12/6 price, before delivery silver content will probably be over your cost. (I believe most are still bullish on silver)
2. What dealer or business person would leave "money on the table" on any product they sell. (and they shouldn't)
I believe some will price these too low to start and when orders kick in up goes the price.
I am guessing maybe $225 out of the chute and quickly approach $300. Don't even want to see eBay prices.
3. It seems with a no-brainer money maker like this that distributors will buy all they are allowed
4. I do not know how many distributors the Mint has but no more than 80 can buy these because of a 2000 coin minimum.
The America the Beautiful Silver Bullion Coins are sold in bulk quantities to business firms approved by the United States Mint which have met the qualifying criteria discussed in Section V below. Approved firms can purchase these coins in the following quantities:
- A minimum of 10,000 ounces (2,000 coins) of silver. Purchases above the minimum must be in 500-ounce (100-coin) increments, the standard packaged quantity.
- However, the United States Mint reserves the right to sell less than the minimum quantity, impose a maximum order quantity and suspend all sales at any time as circumstances warrant.
Even at a $250 price I think these will be winners at 33.000 each. Probably will be at least 100,000 each for the following years.
I will try to buy 1 or 2 of these.
I too will wait for the "P" mint set to come out. What a day that will be.
LET'S HOPE THEY GO ON SUBSCRIPTION!!!
Never a dull moment with the US Mint products.
I hope Ms. can pull this off for everyone.
Joe
<< <i>
<< <i>if they made more of them, they wouldn't have people fighting for them. Then they'd trade more like bullion silver they were meant to be. >>
I expect for future years' issues they will make enough to meet demand. >>
If I were a member of Congress who voted this in, I'd be upset they didn't make enough bullion and made some numismatic versions.
Of course the excuse would be that had the mint made 50,000 each, demand woud have not reached 40,000... but since they only made 33,000 demand spike on the feeding frenzy. But these are supposed to be bullion. If more than enough is made, then it is treated as bullion. Also, as it turns out, now it seems there will not be enough of either bullion nor numismatic versions.
Well, just Love coins, period.
$173.10 and it's based off spot.
These will likely be upwards of $200 each for the bullion version.
"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??? >>
This is why we B&M's earn our money making this stuff available to people.
You are going to have to front some serious money to pay for the monster boxes (assuming you can get them). Figure a high estimated price and have everybody send you their check NOW. They have to get to you and clear before you can access the funds to pay the distributor. You can send refunds with the coins.
TD
<< <i>Here is the 5oz Year of the Rabbit at APMEX
$173.10 and it's based off spot.
These will likely be upwards of $200 each for the bullion version. >>
Just remember that the 5 ounce Wabbits are made and distributed by professionals..........
<< <i>
<< <i>Here is the 5oz Year of the Rabbit at APMEX
$173.10 and it's based off spot.
These will likely be upwards of $200 each for the bullion version. >>
Just remember that the 5 ounce Wabbits are made and distributed by professionals.......... >>
LMAO, and supply much higher than demand.
Joe
<< <i>Does Apmex get their coins directly from the Mint? >>
Yes. APMEX is one of the mint's bullion distributors.
<< <i>
<< <i>Does Apmex get their coins directly from the Mint? >>
Yes. APMEX is one of the mint's bullion distributors. >>
I didn't see their name on the list??
<< <i>
<< <i>
<< <i>Does Apmex get their coins directly from the Mint? >>
Yes. APMEX is one of the mint's bullion distributors. >>
I didn't see their name on the list??
#2 on the national list --
2. American Precious Metals, Inc.
226 Dean A. McGee Avenue, Suite 100
Oklahoma City, OK 73102
(405)595-2100
But that is a list of national retailers. They may or may not buy directly from the mint.
The following list of American Eagle and American Buffalo Gold Coin Program retailers is provided as a sampling of local, as well as national, American Eagle and American Buffalo Gold Coin Program retailers. Additional companies may be found in your local telephone book under "Coins" or "Gold."
The companies that appear on this list are neither affiliated with, nor are they official dealers of the United States Mint.
<< <i>I've seen the list of the mint's 12 or so U.S. bullion distributors and APMEX was on that list also. >>
It was not.
1. A-Mark Precious Metals, Los Angeles - Silver, Gold, Platinum
2. Dillon Guage Inc. Dallas - Silver Only
3. Jack Hunt Coin Brokers, Buffalo NY - Silver Only
4. Prudential Securities Inc. New York City - Silver, Gold, Platinum
5. The Gold Center, Springfield, Ill - Silver Only
6. Coin's 'N Things, Bridgewater MASS - Silver Only
7. Fidelitrade Inc, Wilmington Del - Silver Only
8. MTB, New York City - Silver, Gold, Platinum
9. SCB/Mocatta Bullion, New York City - Silver, Gold, Platinum
10. Commerzbank International, Luxembourg/New York City - Silver and Gold
11. Deutsche Bank AG, Frankfurt Germany - Silver, Gold Only
12. Union Bank of Switzerland, Zurich - Silver, Gold, Platinum
13. Hang Seng Bank, Hong Kong - Silver, Gold Only
14. Tinaka Kikinzoku Kogyo K.K., Tokyo - Gold, Platinum Only
I called Gold Center today and they said all of theirs were spoken for already.
11. Deutsche Bank AG, Frankfurt Germany - Silver, Gold Only
12. Union Bank of Switzerland, Zurich - Silver, Gold, Platinum
13. Hang Seng Bank, Hong Kong - Silver, Gold Only
14. Tinaka Kikinzoku Kogyo K.K., Tokyo - Gold, Platinum Only
Why are we allowing banks in other countries to make money on our mint products? no comprende
So the cherrypicking goes through 2 sets of hands before us lowly plebians can get our grubby mits on a "bullion coin".
I'm less and less enthralled with this program every day.
I knew it would happen.
I called Gold Center today and they said all of theirs were spoken for already.
When I talked to them in September, they were casual about the whole thing and just told me to call back when the coins were released.
They didn't want to put my name on a waiting list or anything like that.
I knew it would happen.
<< <i><< Does Apmex get their coins directly from the Mint? >> Yes. APMEX is one of the mint's bullion distributors. >> I didn't see their name on the list?? >> >>
I always thought APMEX was one of the distributors, too. Jeez, these things are going to be tough to grab. My thinking now is that the best opportunity for the little guy is going to be battling the rush on the mint server for the numismatic versions next year. I wonder what kind of ordering limits they'll place on these?...
I sure hope MsM is successful in his monster box attempt...
mbogoman
https://pcgs.com/setregistry/collectors-showcase/classic-issues-colonials-through-1964/zambezi-collection-trade-dollars/7345Asesabi Lutho
<< <i>
<< <i><< Does Apmex get their coins directly from the Mint? >> Yes. APMEX is one of the mint's bullion distributors. >> I didn't see their name on the list?? >> >>
I always thought APMEX was one of the distributors, too. Jeez, these things are going to be tough to grab. My thinking now is that the best opportunity for the little guy is going to be battling the rush on the mint server for the numismatic versions next year. I wonder what kind of ordering limits they'll place on these?...
I sure hope MsM is successful in his monster box attempt... >>
I agree with you, the best way will be to wait for the numismatic version.
My only concern is: what kind of mark up will they put on those? (and where silver will be at that time!)
I will probably go make the line sunday night in front af Manfra Tordella & Brookes!
<< <i>
<< <i>I've seen the list of the mint's 12 or so U.S. bullion distributors and APMEX was on that list also. >>
It was not.
1. A-Mark Precious Metals, Los Angeles - Silver, Gold, Platinum
2. Dillon Guage Inc. Dallas - Silver Only
3. Jack Hunt Coin Brokers, Buffalo NY - Silver Only
4. Prudential Securities Inc. New York City - Silver, Gold, Platinum
5. The Gold Center, Springfield, Ill - Silver Only
6. Coin's 'N Things, Bridgewater MASS - Silver Only
7. Fidelitrade Inc, Wilmington Del - Silver Only
8. MTB, New York City - Silver, Gold, Platinum
9. SCB/Mocatta Bullion, New York City - Silver, Gold, Platinum
10. Commerzbank International, Luxembourg/New York City - Silver and Gold
11. Deutsche Bank AG, Frankfurt Germany - Silver, Gold Only
12. Union Bank of Switzerland, Zurich - Silver, Gold, Platinum
13. Hang Seng Bank, Hong Kong - Silver, Gold Only
14. Tinaka Kikinzoku Kogyo K.K., Tokyo - Gold, Platinum Only >>
Your list is dated...APMEX did become a dealer this year.
June 1, 2010 --
For Immediate Release
Oklahoma City, OK:
The American Precious Metals Exchange (www.APMEX.com), one of the nation’s largest online precious metals companies, has been selected by the U.S. Mint to become an Authorized Purchaser of United States Silver Bullion Coins.
<< <i>
Your list is dated...APMEX did become a dealer this year.
June 1, 2010 --
For Immediate Release
Oklahoma City, OK:
The American Precious Metals Exchange (www.APMEX.com), one of the nation’s largest online precious metals companies, has been selected by the U.S. Mint to become an Authorized Purchaser of United States Silver Bullion Coins. >>
Thank you OPA!
The list was in January's CW.
I don't understand why the list of distributors (Authorized Purchasers as the Mint calls them) is not available to the public, at least I am not able to find it on the internet.
Looks like there are Authorized Purchasers of bullion from the Mint, these must be the big boys, kind of like the Federal Reserve Banks, who will then ditribute to other dealers and/or the public.
<< <i>I don't understand why the list of distributors (Authorized Purchasers as the Mint calls them) is not available to the public, at least I am not able to find it on the internet. >>
Try here:
link
<< <i>
<< <i>I don't understand why the list of distributors (Authorized Purchasers as the Mint calls them) is not available to the public, at least I am not able to find it on the internet. >>
Try here:
link >>
Thanks!
But that should be the list of the authorized dealers, not the big guys (even though they are present in the list).
I meant the list like the one I posted before, with the international purchasers included.
Had I known that I wouldn't have started this.
I won't be able to beat APMEX's price.
On top of that I have funding issues with these.
Even if I get funding, I'm afraid too many will back out once APMEX's price is listed, and I don't want to be stuck selling each one at a loss on eBay.
Sorry.
Just kidding...I'm thinking it would have been a nightmare for you anyway.
I knew it would happen.
<< <i>MsM, are you saying it's off? Not blaming you if you decide against it, but be clear about whether you are in or out. Let us know. >>
Yes, please do. Those were my thoughts exactly. If I've got to start making alternate plans (I am), the sooner the better...
mbogoman
https://pcgs.com/setregistry/collectors-showcase/classic-issues-colonials-through-1964/zambezi-collection-trade-dollars/7345Asesabi Lutho
Please keep posting and let everyone know. Maybe an "DEAL OFF ATB 5OZER" thread!
Thanks for trying to put this together anyway.
<< <i>APMEX is an Authorized Purchaser?
Had I known that I wouldn't have started this.
I won't be able to beat APMEX's price.
On top of that I have funding issues with these.
Even if I get funding, I'm afraid too many will back out once APMEX's price is listed, and I don't want to be stuck selling each one at a loss on eBay.
Sorry. >>
I don't blame you one bit. This is a game for deep pockets. My pockets are mostly filled with lint.
<< <i>APMEX is an Authorized Purchaser?
Had I known that I wouldn't have started this.
I won't be able to beat APMEX's price.
On top of that I have funding issues with these.
Even if I get funding, I'm afraid too many will back out once APMEX's price is listed, and I don't want to be stuck selling each one at a loss on eBay.
Sorry. >>
MsM,
Thank you for attempting this. Given the uncertaintly of pricing, I am concerned you could get stuck if people back out. Also, I question whether you could even fill the order given the limited supply. The mint wasn't our friend with these.
Andrew
Please visit my website Millcitynumismatics.com
<< <i>I notice Apmex sells the 2011 Year of the Rabbit 5 oz. silver coin for $172.65. I wonder if they would markup the ATB coins similarly. Does Apmex get their coins directly from the Mint? >>
These coins will cost significantly more. Significantly. If they are initially sold under $500 each, I'll be surprised, and if the secondary market is under $500, I'll be shocked.
<< <i>
<< <i>I notice Apmex sells the 2011 Year of the Rabbit 5 oz. silver coin for $172.65. I wonder if they would markup the ATB coins similarly. Does Apmex get their coins directly from the Mint? >>
These coins will cost significantly more. Significantly. If they are initially sold under $500 each, I'll be surprised, and if the secondary market is under $500, I'll be shocked. >>
There is some excitement about these but I doubt there would be many buyers in that range. $100 silver?
To all: APMEX's shipping and handling charge is a base amount (based on the subtotal) plus 3% of the subtotal. So if you buy the set of 5, and their price is $200 each, the shipping and handling charge will be $54.95. If you pay by check, you get a 3% discount on the $54.95. It does not eliminate the 3% surcharge. Anyone have experience with other bullion dealers who might have a better out-the-door price?
<< <i>Thanks for the attempt at the bulk buy, MsMorrisine. I had a feeling once the low mintages were announced, it would be tough pulling this off.
To all: APMEX's shipping and handling charge is a base amount (based on the subtotal) plus 3% of the subtotal. So if you buy the set of 5, and their price is $200 each, the shipping and handling charge will be $54.95. If you pay by check, you get a 3% discount on the $54.95. It does not eliminate the 3% surcharge. Anyone have experience with other bullion dealers who might have a better out-the-door price? >>
I believe your calculation is wrong .... If you pay by cc, yes, there will be a 3% surcharge in addition to s&h fees. Paying by check or M.O. eliminates that surcharge. You will still be charged a s&h fee.
<< <i> I believe your calculation is wrong .... If you pay by cc, yes, there will be a 3% surcharge in addition to s&h fees. Paying by check or M.O. eliminates that surcharge. You will still be charged a s&h fee. >>
Correct.
<< <i>
<< <i> I believe your calculation is wrong .... If you pay by cc, yes, there will be a 3% surcharge in addition to s&h fees. Paying by check or M.O. eliminates that surcharge. You will still be charged a s&h fee. >>
Correct. >>
Thanks for the clarification. Their FAQ is not very clear on this.
<< <i>Thanks for the clarification. Their FAQ is not very clear on this. >>
Yeah, I was also confused. Strict interpretation of their wording would give you a 3% discount on the shipping charges only, which is trivial. They need to get someone who writes English at better than a fifth grade level to re-write that clause.
mbogoman
https://pcgs.com/setregistry/collectors-showcase/classic-issues-colonials-through-1964/zambezi-collection-trade-dollars/7345Asesabi Lutho
<< <i>
<< <i>Thanks for the clarification. Their FAQ is not very clear on this. >>
Yeah, I was also confused. Strict interpretation of their wording would give you a 3% discount on the shipping charges only, which is trivial. They need to get someone who writes English at better than a fifth grade level to re-write that clause. >>
I agree, I thought the same thing when I first started dealing with them!
<< <i>
<< <i>
<< <i>Thanks for the clarification. Their FAQ is not very clear on this. >>
Yeah, I was also confused. Strict interpretation of their wording would give you a 3% discount on the shipping charges only, which is trivial. They need to get someone who writes English at better than a fifth grade level to re-write that clause. >>
I agree, I thought the same thing when I first started dealing with them! >>
The reason why their wording is as it is....it's against the law to add a fee if paying via a cc...
The second question with Apmex is if they will cherry pick this issue. If they are submitting some of these to PCGS or NGC for grading, and they end up selling quantities of slabbed as well as raw examples, we can assume they cherry picked the best ones, and the raw ones they sell are rejects.
<< <i>Has it been clearly established that Apmex is on the primary list of purchasers for 5 oz Nat. Parks? Just because they are among the numerous authorized purchasers does not necessarily mean they will be getting these directly. They might just as well be obtaining them secondarily.
The second question with Apmex is if they will cherry pick this issue. If they are submitting some of these to PCGS or NGC for grading, and they end up selling quantities of slabbed as well as raw examples, we can assume they cherry picked the best ones, and the raw ones they sell are rejects. >>
Since they are one of the few Authorized Purchaser, they should get the first wave of pucks.
They will then cherry pick them and sold the others.
I am curious to see if they will offer their "Mint Direct" sealed tubes with such a low mintage.
<< <i>The second question with Apmex is if they will cherry pick this issue. If they are submitting some of these to PCGS or NGC for grading, and they end up selling quantities of slabbed as well as raw examples, we can assume they cherry picked the best ones, and the raw ones they sell are rejects >>
That certainly is possible, I am going to try and purchase a full roll of each, those they leave sealed (in the past). The question is will they limit quantity, sell only to regular customers, or possibly only to those who signed up for the "alert me" notification some time back (I did). Who knows? Has anyone talked to them on the phone about this?
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.