Dealers' Opinions ?? - 5 toz Silver National Park Coins:: Interested in Stocking Them .... or Fearf
MsMorrisine
Posts: 36,070 ✭✭✭✭✭
What are the dealers out there thinking about these 5 troy ounce National Park giant silver ""quarters""??
Afraid of stocking them because they might get stuck with some?
Interested?
Have any dealers communicated back to the mint desires for how to "monster box' these up? (e.g. 100 to a box and 5 in a flat with 20 flats in a box)
I'm thinking of making some suggestions to the Mint's Assoc. Dir. of Sales and Marketing about what the MS70 collecting crowd would like. (I'm guessing the casual collector would not care about ms70 and just buy 1 or more without thought)
Afraid of stocking them because they might get stuck with some?
Interested?
Have any dealers communicated back to the mint desires for how to "monster box' these up? (e.g. 100 to a box and 5 in a flat with 20 flats in a box)
I'm thinking of making some suggestions to the Mint's Assoc. Dir. of Sales and Marketing about what the MS70 collecting crowd would like. (I'm guessing the casual collector would not care about ms70 and just buy 1 or more without thought)
Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
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Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>Dealers will have to buy these from authorized distributers just like the ASE's. Since these are basically bullion products, I don't see how they can get hurt unless they buy a ton and silver drops in price. I wouldn't be surprised if demand exceeds what the mint is able to produce. >>
I haven't seen this in writing anywhere. Are you sure the mint won't put them in a fancy box and sell them on the website at a big premium?
--Jerry
I guess the concern comes in demand in general for a 5 ounce ATB coin over a 1 ounce ASE coin and the minimum order size. Could there be a set of factors coming together that cause a dealer to have more stock than they can sell (and would smaller box be better ... maybe 100 coins) ??
<< <i>
<< <i>Dealers will have to buy these from authorized distributers just like the ASE's. Since these are basically bullion products, I don't see how they can get hurt unless they buy a ton and silver drops in price. I wouldn't be surprised if demand exceeds what the mint is able to produce. >>
I haven't seen this in writing anywhere. Are you sure the mint won't put them in a fancy box and sell them on the website at a big premium?
--Jerry >>
There have been several threads on this topic where this requirement is cited. Apparently the law requiring these coins was sponsored by legislators from silver producing states to help their home industry. I wouldn't rule out a proof version offered by the mint but basically this is a bullion coin similar to the ASE. These may be a neat way to buy some silver if the markup over melt is reasonable.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
``(A) In general.--In addition to the authorized
dealers utilized by the Secretary in distributing
bullion coins and solely for purposes of distributing
bullion coins issued under this subsection, the Director
of the National Park Service, or the designee of the
Director, may purchase numismatic items issued under
this subsection, but only in units of no fewer than
1,000 at a time, and the Director, or the Director's
designee, may resell or repackage such numismatic items
as the Director determines to be appropriate.
``(B) Resale.--The Director of the National Park
Service, or the designee of the Director, may resell, at
cost and without repackaging, numismatic items acquired
by the Director or such designee under subparagraph (A)
to any party affiliated with any national site honored
by a quarter dollar under subsection (t) for repackaging
and resale by such party in the same manner and to the
same extent as such party would be authorized to engage
in such activities under subparagraph (A) if the party
were acting as the designee of the Director under such
subparagraph.''.
The spirit of the law is that these are "bullion"
however
It doesn't say they "must only use" the bullion network and the other method listed-- the national parks and affiliates...
Even if these are primarily "bullion" one can't escape the fact that they will be collected. They can't expect them to be solely investment coins with the ATB designs.
I guess part two of the question would be ::
Would the bullion dealer network cry foul if the mint sold these directly to the consumer? what about direct with a household limit (any more would have to be purchased from a dealer)?
<< <i>Would the bullion dealer network cry foul if the mint sold these directly to the consumer? what about direct with a household limit (any more would have to be purchased from a dealer)? >>
I would guess that these coins will be treated just like the ASE's. Any direct mint sales would be proofs or special mintmarks or finishes with a higher premium so they wouldn't directly compete with the regular business strike coins sold by the distributers.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>The mint will probably burnish some of them and slap a them with a "W" mint mark and WHAMMY.....I high priced collector version. Ready to sell to John Q Public via the US mint catalog.
Yup! And don't forget the plastic capsule, the plush box, and COA.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
So, who knows, we could see some in genuine cedar boxes sitting behind the register at some sites. Or maybe they could put one inside a snow globe....
I'd think the mint has to treat these first as investment bullion, then as a collector's item. So, I wonder how few they will box up. I wonder if they'd go so far as to do 500 coins in a box, but I also don't see them selling them with a 10 coin tube/box order either.
On the other hand, if I were the mint and selling a new 5 ounce $100+ product for the first time all while in the face of declining sales of First Spouse, statehood products, and with the easier to buy ASE.... I'd try to start the series with as few coins in a minimum order as practically possible. The reasoning is to encourage the maximum number of dealers and collectors purchasing them.
With the reaction of the forum so far, I'd say these are somewhere in the "BSA commem" area.... lots of interest with undertones of flipping hopes, but lacking widespread forum support.
Could they be on life support even before release?
<< <i>The mint will probably burnish some of them and slap a them with a "W" mint mark and WHAMMY..... >>
OR a "P" Mintmark since they will be coined at the Phillie Mint ! ! !
HH
1947-P & D; 1948-D; 1949-P & S; 1950-D & S; and 1952-S.
Any help locating any of these OBW rolls would be gratefully appreciated!
<< <i>What are the dealers out there thinking about these 5 troy ounce National Park giant silver ""quarters""??
Afraid of stocking them because they might get stuck with some?
>>
Speaking as a dealer, we have no opinion YET because the Mint is not telling us jack doodle as far as how these are going priced, packaged, lotted or whatever.
My perception is that the longer the Mint drags out this cone of secrecy garrbagge, the less and less dealers dealers want to carry them.
I may be wrong.
TD