<< <i>Earlier today, the US Mint sent the following memo to primary distributors >>
<< <i>The United States Mint issued a press release on December 1, 2010, announcing the December 6, 2010, availability of the 2010 America the Beautiful Ounce Silver Bullion Coins through the established network of Authorized Purchasers who, in turn, would make them available on the secondary market. Due to the limited availability of the 2010 America the Beautiful Silver Bullion Coin coins, public anticipation has been extremely strong. Since the press release was issued, the United States Mint has received numerous calls and inquiries from the public regarding premiums being charged for these coins. As a result, we are delaying the launch of this program. No America the Beautiful Ounce Silver Bullion Coins orders will be confirmed today. >>
It was surprised by the number of members who were so outraged by APMEX selling price. I had no idea, that the coin forum had so many "modern junk" or "bullion collectors."
"Bongo drive 1984 Lincoln that looks like old coin dug from ground."
I ordered and paid for some Aussie silver from apmex on the morning of the 1st. I predict that this puck thing has prevented me from getting my stuff in the usual timely manner. They sent me my 'item shipped' email on the 4th. The tracking number just now says:
The U.S. Postal Service was electronically notified by the shipper on December 05, 2010 to expect your package for mailing. This does not indicate receipt by the USPS or the actual mailing date. Delivery status information will be provided if / when available. Information, if available, is updated periodically throughout the day. Please check again later.
I don't think I've ever waited this long for an order from them. Usually 3 days and I'll have it, and usually the tracking says something other than that the same day as the shipped email comes in. Maybe I'll have a surprise slip in the box today, but this is a seemingly long time for a small order to come in from them.
<< <i>It was surprised by the number of members who were so outraged by APMEX selling price. I had no idea, that the coin forum had so many "modern junk" or "bullion collectors." >>
I have thought the same. Tell them there's an Forum for that.
I'm sorry but these are meant to be bullion coins and are sold as such from the mint at a modest markup over silver. With the limited dealers involved I think they did the right thing in pulling them since these few dearlers have the market cornered. Would you want this to happen to the ASE's before going to the public? If they do skyrocket (yet to be seen) it needs to occur on the secondary market as far as I'm concerned. If anyone is to make a huge profit it should be the mint and that money used to pay down our debt....JMO
<< <i>I'm sorry but these are meant to be bullion coins and are sold as such from the mint at a modest markup over silver. With the limited dealers involved I think they did the right thing in pulling them since these few dearlers have the market cornered. Would you want this to happen to the ASE's before going to the public? If they do skyrocket (yet to be seen) it needs to occur on the secondary market as far as I'm concerned. If anyone is to make a huge profit it should be the mint and that money used to pay down our debt....JMO >>
I believe if you look at the Mint's balance sheet, you'll see that those "money gouging" network of 11 US & 3 Foreign dealers, are a "cash cow" to the Mint. It's all a matter of supply & demand.
Had the US Mint handled their bullion ASE's in similar fashion ( limited supply over demand ), you would have had the same result. It's called Capitalism at work & not some Socialistic idea where Big Brother will look out for everyone in all walk of life.
BTW any Mint profit is returned to the General Fund. Don't know if it has any impact in lowering our deficit.
"Bongo drive 1984 Lincoln that looks like old coin dug from ground."
<< <i>It was surprised by the number of members who were so outraged by APMEX selling price. I had no idea, that the coin forum had so many "modern junk" or "bullion collectors." >>
I thought APMEXs price was cheap on these! I would have got them gladly for 2x their asking price!
Many successful BST transactions ajia (x2,Meltdown),cajun,Swampboy,SeaEagleCoins,InYHWHWeTrust, bstat1020,Spooly,timrutnat,oilstates200, vpr, guitarwes, mariner67, and Mikes coins
<< <i>re: capitalism - designed for a level playing field. re: crony capitalism - designed for the select few and everyone else be damned.
Take your pick.
I predict that the only sellout of the 5 ozer pucks will be the 2010 issues. >>
Not much of a prediction, since the Mint plans to produce 150,000 for each new puck from now on.
Btw:
In capitalism, the market determines price.
In socialism: equal distribution of goods is to be mandated by the government.
So which system is more applicable in this case? >>
Where did you hear the 150,000 figure please? 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.
OK, thanks. I have heard 100,000 bandied about, but never that it was official. And what the heck does "bandied about" mean??? 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.
I think this idiom is very misused and should probably be deleted from our national lexicon. >>
Thanks. I wonder if the root word and "badminton" are related in any way???? 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.
In socialism: equal distribution of goods is to be mandated by the government.
So which system is more applicable in this case?
In capitalism, the distributors honor their contractual agreements and follow the law as well.
In capitalism, supply and demand interact; and suppliers are not able to create artificial supply shortages because competition allows competitors to supply the same goods readily when one supplier tries to gouge the public. There is a reason for the laws against monopoly, price-fixing and collusion.
In this instance, when the government actually did the right thing to prevent price-fixing by a small cartel, you found it to be socialism. I did not.
Q: Are You Printing Money? Bernanke: Not Literally
We have received instructions from the U.S. Mint regarding the distribution of the 2010 America the Beautiful Silver Bullion Coins. In accordance with those instructions, we have ordered our maximum allocation of 3,000 sets, each set with five coins for the 2010 year. We expect delivery of the coins late next week.
Because the Mint discontinued the program and then relaunched the program with different requirements on distribution of these coins, we have asked the Mint a few questions for which we await the responses so we may fully comply with the new program. Please be patient while we receive clarification on the distribution and we receive the coins we have ordered. We anticipate we will able to provide additional information late next week.
Thank you for your cooperation and understanding in this matter and, as always, we value our relationship with you.
Respectfully,
David McCarty Director of Marketing American Precious Metals Exchange
"If you hit a midget on the head with a stick, he turns into 40 gold coins." - Patty Oswalt
Comments
<< <i>Earlier today, the US Mint sent the following memo to primary distributors >>
<< <i>The United States Mint issued a press release on December 1, 2010, announcing the December 6, 2010, availability of the 2010 America the Beautiful Ounce Silver Bullion Coins through the established network of Authorized Purchasers who, in turn, would make them available on the secondary market. Due to the limited availability of the 2010 America the Beautiful Silver Bullion Coin coins, public anticipation has been extremely strong. Since the press release was issued, the United States Mint has received numerous calls and inquiries from the public regarding premiums being charged for these coins. As a result, we are delaying the launch of this program. No America the Beautiful Ounce Silver Bullion Coins orders will be confirmed today. >>
I ordered and paid for some Aussie silver from apmex on the morning of the 1st. I predict that this puck thing has prevented me from getting my stuff in the usual timely manner. They sent me my 'item shipped' email on the 4th. The tracking number just now says:
The U.S. Postal Service was electronically notified by the shipper on December 05, 2010 to expect your package for mailing. This does not indicate receipt by the USPS or the actual mailing date. Delivery status information will be provided if / when available. Information, if available, is updated periodically throughout the day. Please check again later.
I don't think I've ever waited this long for an order from them. Usually 3 days and I'll have it, and usually the tracking says something other than that the same day as the shipped email comes in. Maybe I'll have a surprise slip in the box today, but this is a seemingly long time for a small order to come in from them.
<< <i>It was surprised by the number of members who were so outraged by APMEX selling price. I had no idea, that the coin forum had so many "modern junk" or "bullion collectors."
I have thought the same. Tell them there's an Forum for that.
<< <i>I'm sorry but these are meant to be bullion coins and are sold as such from the mint at a modest markup over silver. With the limited dealers involved I think they did the right thing in pulling them since these few dearlers have the market cornered. Would you want this to happen to the ASE's before going to the public? If they do skyrocket (yet to be seen) it needs to occur on the secondary market as far as I'm concerned. If anyone is to make a huge profit it should be the mint and that money used to pay down our debt....JMO >>
I believe if you look at the Mint's balance sheet, you'll see that those "money gouging" network of 11 US & 3 Foreign dealers, are a "cash cow" to the Mint. It's all a matter of supply & demand.
Had the US Mint handled their bullion ASE's in similar fashion ( limited supply over demand ), you would have had the same result. It's called Capitalism at work & not some Socialistic idea where Big Brother will look out for everyone in all walk of life.
BTW any Mint profit is returned to the General Fund. Don't know if it has any impact in lowering our deficit.
Take your pick.
I predict that the only sellout of the 5 ozer pucks will be the 2010 issues.
I knew it would happen.
<< <i>It was surprised by the number of members who were so outraged by APMEX selling price. I had no idea, that the coin forum had so many "modern junk" or "bullion collectors."
I thought APMEXs price was cheap on these! I would have got them gladly for 2x their asking price!
(x2,Meltdown),cajun,Swampboy,SeaEagleCoins,InYHWHWeTrust, bstat1020,Spooly,timrutnat,oilstates200, vpr, guitarwes,
mariner67, and Mikes coins
<< <i>re: capitalism - designed for a level playing field. re: crony capitalism - designed for the select few and everyone else be damned.
Take your pick.
I predict that the only sellout of the 5 ozer pucks will be the 2010 issues. >>
Add state capitalism where the gov't forces you to spread your "Pucks" around.
<< <i>re: capitalism - designed for a level playing field. re: crony capitalism - designed for the select few and everyone else be damned.
Take your pick.
I predict that the only sellout of the 5 ozer pucks will be the 2010 issues. >>
Not much of a prediction, since the Mint plans to produce 150,000 for each new puck from now on.
Btw:
In capitalism, the market determines price.
In socialism: equal distribution of goods is to be mandated by the government.
So which system is more applicable in this case?
<< <i>
<< <i>re: capitalism - designed for a level playing field. re: crony capitalism - designed for the select few and everyone else be damned.
Take your pick.
I predict that the only sellout of the 5 ozer pucks will be the 2010 issues. >>
Not much of a prediction, since the Mint plans to produce 150,000 for each new puck from now on.
Btw:
In capitalism, the market determines price.
In socialism: equal distribution of goods is to be mandated by the government.
So which system is more applicable in this case? >>
Where did you hear the 150,000 figure please?
TD
<< <i>Where did you hear the 150,000 figure please >>
Not sure, there have been so many news blurbs, but I believe Moy may have made a statement to that affect a while ago.
I have heard 100,000 bandied about, but never that it was official.
And what the heck does "bandied about" mean???
TD
I think this idiom is very misused and should probably be deleted from our national lexicon.
Minted to demand like the ASE bullion? If there is no demand.........
Box of 20
4XXXXX Printed Waiting to Ship 12/03/2010 12/08/2010 12/15/2010
Here's what my Apmex order says... Any chance these will go out today?
Click on this link to see my ebay listings.
<< <i>Best I could do with "bandied about"
I think this idiom is very misused and should probably be deleted from our national lexicon. >>
Thanks.
I wonder if the root word and "badminton" are related in any way????
TD
<< <i>Order ID Status Order Date Payment received Est. Ship Date
4XXXXX Printed Waiting to Ship 12/03/2010 12/08/2010 12/15/2010
Here's what my Apmex order says... Any chance these will go out today? >>
Only if Hell freezes over
In socialism: equal distribution of goods is to be mandated by the government.
So which system is more applicable in this case?
In capitalism, the distributors honor their contractual agreements and follow the law as well.
In capitalism, supply and demand interact; and suppliers are not able to create artificial supply shortages because competition allows competitors to supply the same goods readily when one supplier tries to gouge the public. There is a reason for the laws against monopoly, price-fixing and collusion.
In this instance, when the government actually did the right thing to prevent price-fixing by a small cartel, you found it to be socialism. I did not.
I knew it would happen.
We have received instructions from the U.S. Mint regarding the distribution of the 2010 America the Beautiful Silver Bullion Coins. In accordance with those instructions, we have ordered our maximum allocation of 3,000 sets, each set with five coins for the 2010 year. We expect delivery of the coins late next week.
Because the Mint discontinued the program and then relaunched the program with different requirements on distribution of these coins, we have asked the Mint a few questions for which we await the responses so we may fully comply with the new program. Please be patient while we receive clarification on the distribution and we receive the coins we have ordered. We anticipate we will able to provide additional information late next week.
Thank you for your cooperation and understanding in this matter and, as always, we value our relationship with you.
Respectfully,
David McCarty
Director of Marketing
American Precious Metals Exchange