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>I also did the math when the 6 coin territorial quarter proof sets were available for $29.95 / set with a silver value of $21.65. >>
19Lyds.....since you are such a math wizzard.... 5 coin silver America Beautiful Set .. issue date 5/27/10...silver @ $18.40 that day...Issue price..$32.95...
"Bongo drive 1984 Lincoln that looks like old coin dug from ground."
I just spoke with someone @ A-Mark and he said that they had sold out @ around $200., each.
PNG member, numismatic dealer since 1965. Operates a retail store, also has exhibited at over 1000 shows. I firmly believe in numismatics as the world's greatest hobby, but recognize that this is a luxury and without collectors, we can all spend/melt our collections/inventories.
<< <i>I also did the math when the 6 coin territorial quarter proof sets were available for $29.95 / set with a silver value of $21.65. >>
19Lyds.....since you are such a math wizzard.... 5 coin silver America Beautiful Set .. issue date 5/27/10...silver @ $18.40 that day...Issue price..$32.95... >>
Puh-Roofs! Not BULL-YON!
I decided to change calling the bathroom the John and renamed it the Jim. I feel so much better saying I went to the Jim this morning.
All the other distributors are going to sell/or are selling at APMEX prices, lets go ahead and sue the whole network and spend a couple of million to jail them, and get new distributors who will do the same thing again-----------BigE
He said that there are two Directors of this program and that I should call them. I spoke with one at length and left a message on the other person's line.
The one with whom I spoke said that The Mint is aware of what is going on, that they've called some of the Auth. Dist. and suggested that they re-think their pricing, that The Mint created this monster by selling a limited mintage product (which they did not anticipate to be so limited this year) via the network,......
He said that there are meetings scheduled with the top brass today about this - what to do now and in the future.
I discussed much of what has been pointed out here with him. He said that no one likes the Got. to set pricing, but clearly these margins are far too high.
He was not sure what to do at present. He pointed out that there is no 5 oz bullion to compare them to. I told him that some of these dealers sell Aust. lunar 5 oz silver at similar markups over spot as ASEs. I suggested that, being that these Auth. Dist. only have this status as they agreed to sell BULLION via this network, that they should of course be treating these a bullion and not numismatic pieces which he clearly realized that they are doing.
We spoke at length, not enough time to write in more detail now.
They are very aware and discussing this today.
He fully understood mine - and those you who voiced similar concerns - serious concerns with this situation.
Certainly the Auth. Dist. model has worked well for many years. It is CLEARLY not the proper outlet for limited mintage, numismatic issues such as these.
If the above posts help and the mint goes back to Ampex the fix is easy for them. Offer a few silver rounds as compensation with every order of the 5OZers. This refunds the customer and helps Ampex and the mint save face. Also it means if AMpex has some rounds they bought at 15$ they can leverage the price of Silver ($30) and do well them selves!
<< <i>Keep up the heat!!!!! This is just SO wrong. >>
Good to know that this is on the radar with the folks at the mint. Thanks for making the call.
I don't expect the distributors to get penalized in the short term--I'm not sure how this would happen anyway. I suspect a rewriting of the regulations is in order.
Successful transactions with keepdachange, tizofthe, adriana, wondercoin
<< <i>If the above posts help and the mint goes back to Ampex the fix is easy for them. Offer a few silver rounds as compensation with every order of the 5OZers. This refunds the customer and helps Ampex and the mint save face. Also it means if AMpex has some rounds they bought at 15$ they can leverage the price of Silver ($30) and do well them selves!
So 8 rounds added to every order! >>
This only helps those who bought from APMEX. Assuming the distributors do not have the coins yet, the Mint should halt shipments immediately, refund all monies to distributors and come up with a new plan.
<< <i>I got through to one of The Mint attys. this a.m.
He said that there are two Directors of this program and that I should call them. I spoke with one at length and left a message on the other person's line.
The one with whom I spoke said that The Mint is aware of what is going on, that they've called some of the Auth. Dist. and suggested that they re-think their pricing, that The Mint created this monster by selling a limited mintage product (which they did not anticipate to be so limited this year) via the network,......
He said that there are meetings scheduled with the top brass today about this - what to do now and in the future.
I discussed much of what has been pointed out here with him. He said that no one likes the Got. to set pricing, but clearly these margins are far too high.
He was not sure what to do at present. He pointed out that there is no 5 oz bullion to compare them to. I told him that some of these dealers sell Aust. lunar 5 oz silver at similar markups over spot as ASEs. I suggested that, being that these Auth. Dist. only have this status as they agreed to sell BULLION via this network, that they should of course be treating these a bullion and not numismatic pieces which he clearly realized that they are doing.
We spoke at length, not enough time to write in more detail now.
They are very aware and discussing this today.
He fully understood mine - and those you who voiced similar concerns - serious concerns with this situation.
Certainly the Auth. Dist. model has worked well for many years. It is CLEARLY not the proper outlet for limited mintage, numismatic issues such as these.
Keep up the heat!!!!! This is just SO wrong. >>
You took the initiative and you got them to give it the ol' goin' over, Raufus--good work!
What would be cool would be if the mint squeezes APMEX to refund several hundred dollars of those who bought the sets, then we get them and the market still dictates them at the $2k per set price.
We are like children who look at print and see a serpent in the last letter but one, and a sword in the last. --Severian the Lame
<< <i> This only helps those who bought from APMEX. Assuming the distributors do not have the coins yet, the Mint should halt shipments immediately, refund all monies to distributors and come up with a new plan. >>
Wow that would make my day.That for once the US Mint gives the finger to its distributors for abusing the system
<< <i>I got through to one of The Mint attys. this a.m.
He said that there are two Directors of this program and that I should call them. I spoke with one at length and left a message on the other person's line.
The one with whom I spoke said that The Mint is aware of what is going on, that they've called some of the Auth. Dist. and suggested that they re-think their pricing, that The Mint created this monster by selling a limited mintage product (which they did not anticipate to be so limited this year) via the network,......
He said that there are meetings scheduled with the top brass today about this - what to do now and in the future.
I discussed much of what has been pointed out here with him. He said that no one likes the Got. to set pricing, but clearly these margins are far too high.
He was not sure what to do at present. He pointed out that there is no 5 oz bullion to compare them to. I told him that some of these dealers sell Aust. lunar 5 oz silver at similar markups over spot as ASEs. I suggested that, being that these Auth. Dist. only have this status as they agreed to sell BULLION via this network, that they should of course be treating these a bullion and not numismatic pieces which he clearly realized that they are doing.
We spoke at length, not enough time to write in more detail now.
They are very aware and discussing this today.
He fully understood mine - and those you who voiced similar concerns - serious concerns with this situation.
Certainly the Auth. Dist. model has worked well for many years. It is CLEARLY not the proper outlet for limited mintage, numismatic issues such as these.
<< <i>Gainesville raises the price to $1750 now. >>
Sounds like their whole pricing strategy is nothing more complicated than while the gravy's flowing they want to be right there with their kissers under the faucet.
<< <i>I don't expect the distributors to get penalized in the short term--I'm not sure how this would happen anyway. I suspect a rewriting of the regulations is in order. >>
..or actually using the distributors as their agreement states.....distributing minted to demand bullion coins
<< <i>Has the US MInt shipped these products already to their "distributors"? >>
no.
they might go out later this week. >>
If they have not yet shipped, why is the mint going forward with supplying distributors that have broken the rules of the contract with excessively high preorder sales?
Successful transactions with keepdachange, tizofthe, adriana, wondercoin
<< <i> I still think the prices will come down when the numismatic versions are released, and when the "in-hand" auctions hit eBay. >>
I'm afraid that's wishful thinking on your part. Yes, the Mint copy(s) may come down, depending what the price of silver is next year, but I've never seen an immediate price reduction on eBay, when "in-hand" auctions first appear.
"Bongo drive 1984 Lincoln that looks like old coin dug from ground."
Ok guys this just in from one of the online dealers who was planning on selling the sets for $1330. This came straight from one of the tradeers who got the notice right now...
The mint has STOPPED all deliveries to authorized dealers of the 5 oz Coins until further notice which means even those people who pre-ordered will not get them since the Authorized Mint distributors do not have them in hand.
All moneys will now have to be reinbursed.
Take that to the bank APMEX and the Auth Distributors
<< <i>Ok guys this just in from one of the online dealers who was planning on selling the sets for $1330. This came straight from one of the tradeers who got the notice right now...
The mint has STOPPED all deliveries to authorized dealers of the 5 oz Coins until further notice which means even those people who pre-ordered will not get them since the Authorized Mint distributors do not have them in hand.
All moneys will now have to be reinbursed.
Take that to the bank APMEX and the Auth Distributors >>
Interesting...has that been confirmed by anyone else? What traders are you referring to? Is it one of the authorized bullion dealers?
"Bongo drive 1984 Lincoln that looks like old coin dug from ground."
<< <i>Ok guys this just in from one of the online dealers who was planning on selling the sets for $1330. This came straight from one of the tradeers who got the notice right now... The mint has STOPPED all deliveries to authorized dealers of the 5 oz Coins until further notice which means even those people who pre-ordered will not get them since the Authorized Mint distributors do not have them in hand. >>
Are you pulling our legs???
If true, wow! What a smack upside the head by the mint! I didn't think they had the cojones. And to get something done that fast in government - it would be unprecedented!!!
This is some of the same wierdness as when the 2006 gold anniversary sets came out...(I think that was it) and everyone subscribed way more than the inventory was...so they cancelled them all and sold them on the website
Great BST experiences: abitofthisabitofthat, silvercoinsdude, gerard, coinfame, mikescoins, wondercoin
If its of any importance I got this from Provident. I just spoke to one of the traders and they quoted me $1329.95 for the set to go on sale this week and within 5 minutes he had to caLL MEback and tell me they just got notice from their distributor
So now the dirtibutors are not only out of a healthy profit but lost customers as well
If its of any importance I got this from Provident. I just spoke to one of the traders and they quoted me $1329.95 for the set to go on sale this week and within 5 minutes he had to caLL MEback and tell me they just got notice from their distributor >>
Will it be a convenient excuse for the trader to cancel the sales and sell it at a higher price?
If its of any importance I got this from Provident. I just spoke to one of the traders and they quoted me $1329.95 for the set to go on sale this week and within 5 minutes he had to caLL MEback and tell me they just got notice from their distributor >>
Will it be a convenient excuse for the trader to cancel the sales and sell it at a higher price? >>
Im not so sure now because the mint will probably place a strict pricing on these to the distributors or perhaps sell it on the website. If the allotments go to the distributors I suspect they will be more in line with bullion pricing
That's just great...here I took the plunge and happily paid the 1395...twice...to make sure I got my sets.
Now, they will sell them to the distributors...who will sell them to the dealers at a more bullion-ish price...who will sell them to the public for $2500 a set.
Great BST experiences: abitofthisabitofthat, silvercoinsdude, gerard, coinfame, mikescoins, wondercoin
When the dust settles, I think the price of the 2010 bullion version will exceed the price of the 2010 proof version due to collector demand.
Consider that the 2011 and later coins will likely be minted to demand and priced at a modest premium above spot, while the proofs will be sold by the Mint at a high premium to spot. This will tilt demand toward the lower-priced version, both for individual coins and for sets.
Consider also that more people collect bullion silver eagles than proof silver eagles. I think the same will hold true for the 5-ounce rounds, ensuring continuing demand by set collectors for the "key" 2010 issues.
<< <i>If the above posts help and the mint goes back to Ampex the fix is easy for them. Offer a few silver rounds as compensation with every order of the 5OZers. This refunds the customer and helps Ampex and the mint save face. Also it means if AMpex has some rounds they bought at 15$ they can leverage the price of Silver ($30) and do well them selves!
So 8 rounds added to every order! >>
This only helps those who bought from APMEX. Assuming the distributors do not have the coins yet, the Mint should halt shipments immediately, refund all monies to distributors and come up with a new plan. >>
<< <i>That's just great...here I took the plunge and happily paid the 1395...twice...to make sure I got my sets.
Now, they will sell them to the distributors...who will sell them to the dealers at a more bullion-ish price...who will sell them to the public for $2500 a set. >>
Perhaps that is what will happen in this case OR the mint will decide to market them via the website for a more fair distribution. The trader I spoke to told me their plan was to sell them for $1330 so my best guess is that now they may go higher or may not.
It wouldnt surprise me the mint will sell these instead.
<< <i>I got through to one of The Mint attys. this a.m.
He said that there are two Directors of this program and that I should call them. I spoke with one at length and left a message on the other person's line.
The one with whom I spoke said that The Mint is aware of what is going on, that they've called some of the Auth. Dist. and suggested that they re-think their pricing, that The Mint created this monster by selling a limited mintage product (which they did not anticipate to be so limited this year) via the network,......
He said that there are meetings scheduled with the top brass today about this - what to do now and in the future.
I discussed much of what has been pointed out here with him. He said that no one likes the Got. to set pricing, but clearly these margins are far too high.
He was not sure what to do at present. He pointed out that there is no 5 oz bullion to compare them to. I told him that some of these dealers sell Aust. lunar 5 oz silver at similar markups over spot as ASEs. I suggested that, being that these Auth. Dist. only have this status as they agreed to sell BULLION via this network, that they should of course be treating these a bullion and not numismatic pieces which he clearly realized that they are doing.
We spoke at length, not enough time to write in more detail now.
They are very aware and discussing this today.
He fully understood mine - and those you who voiced similar concerns - serious concerns with this situation.
Certainly the Auth. Dist. model has worked well for many years. It is CLEARLY not the proper outlet for limited mintage, numismatic issues such as these.
Keep up the heat!!!!! This is just SO wrong. >>
You took the initiative and you got them to give it the ol' goin' over, Raufus--good work! >>
Thanks. This is just too wrong on so many levels to let it go.
Comments
<< <i>I also did the math when the 6 coin territorial quarter proof sets were available for $29.95 / set with a silver value of $21.65. >>
19Lyds.....since you are such a math wizzard....
5 coin silver America Beautiful Set .. issue date 5/27/10...silver @ $18.40 that day...Issue price..$32.95...
I firmly believe in numismatics as the world's greatest hobby, but recognize that this is a luxury and without collectors, we can all spend/melt our collections/inventories.
eBaystore
<< <i>
<< <i>For those that missed out from getting their set from APMEX
"Gainseville now has these at $1700 a set. They say they will not have any tomorrow." >>
lol, so now where are the recent APMEX haters going to buy next?------------------------------------BigE >>
Gainesville is NOT an approved Mint Bullion Distributer. They don't have any agreement with the mint. They had to buy from an approved distributer.
John
<< <i>
<< <i>I also did the math when the 6 coin territorial quarter proof sets were available for $29.95 / set with a silver value of $21.65. >>
19Lyds.....since you are such a math wizzard....
5 coin silver America Beautiful Set .. issue date 5/27/10...silver @ $18.40 that day...Issue price..$32.95... >>
Puh-Roofs! Not BULL-YON!
The name is LEE!
<< <i>I just spoke with someone @ A-Mark and he said that they had sold out @ around $200., each. >>
Probably wholesaled them out to other Dealers & not the public.
<< <i>
<< <i>
<< <i>For those that missed out from getting their set from APMEX
"Gainseville now has these at $1700 a set. They say they will not have any tomorrow." >>
lol, so now where are the recent APMEX haters going to buy next?------------------------------------BigE >>
Gainesville is NOT an approved Mint Bullion Distributer. They don't have any agreement with the mint. They had to buy from an approved distributer.
John >>
Thats right, they bought from an approved distributor who sold them for 1400.00 to them
<< <i>500!! >>
Is that the number of posts in this thread, or where you think the price per coin is headed?
He said that there are two Directors of this program and that I should call them. I spoke with one at length and left a message on the other person's line.
The one with whom I spoke said that The Mint is aware of what is going on, that they've called some of the Auth. Dist. and suggested that they re-think their pricing, that The Mint created this monster by selling a limited mintage product (which they did not anticipate to be so limited this year) via the network,......
He said that there are meetings scheduled with the top brass today about this - what to do now and in the future.
I discussed much of what has been pointed out here with him. He said that no one likes the Got. to set pricing, but clearly these margins are far too high.
He was not sure what to do at present. He pointed out that there is no 5 oz bullion to compare them to. I told him that some of these dealers sell Aust. lunar 5 oz silver at similar markups over spot as ASEs. I suggested that, being that these Auth. Dist. only have this status as they agreed to sell BULLION via this network, that they should of course be treating these a bullion and not numismatic pieces which he clearly realized that they are doing.
We spoke at length, not enough time to write in more detail now.
They are very aware and discussing this today.
He fully understood mine - and those you who voiced similar concerns - serious concerns with this situation.
Certainly the Auth. Dist. model has worked well for many years. It is CLEARLY not the proper outlet for limited mintage, numismatic issues such as these.
Keep up the heat!!!!! This is just SO wrong.
<< <i>"It is CLEARLY not the proper outlet for limited mintage, numismatic issues such as these." >>
Now there's a major "Duh!"
So 8 rounds added to every order!
Most $1,7xx BIN sets were gone.
People brought from APMEX should not be complaining now.
<< <i>Keep up the heat!!!!! This is just SO wrong. >>
Good to know that this is on the radar with the folks at the mint. Thanks for making the call.
I don't expect the distributors to get penalized in the short term--I'm not sure how this would happen anyway. I suspect a rewriting of the regulations is in order.
<< <i>If the above posts help and the mint goes back to Ampex the fix is easy for them. Offer a few silver rounds as compensation with every order of the 5OZers. This refunds the customer and helps Ampex and the mint save face. Also it means if AMpex has some rounds they bought at 15$ they can leverage the price of Silver ($30) and do well them selves!
So 8 rounds added to every order! >>
This only helps those who bought from APMEX. Assuming the distributors do not have the coins yet, the Mint should halt shipments immediately, refund all monies to distributors and come up with a new plan.
<< <i>I got through to one of The Mint attys. this a.m.
He said that there are two Directors of this program and that I should call them. I spoke with one at length and left a message on the other person's line.
The one with whom I spoke said that The Mint is aware of what is going on, that they've called some of the Auth. Dist. and suggested that they re-think their pricing, that The Mint created this monster by selling a limited mintage product (which they did not anticipate to be so limited this year) via the network,......
He said that there are meetings scheduled with the top brass today about this - what to do now and in the future.
I discussed much of what has been pointed out here with him. He said that no one likes the Got. to set pricing, but clearly these margins are far too high.
He was not sure what to do at present. He pointed out that there is no 5 oz bullion to compare them to. I told him that some of these dealers sell Aust. lunar 5 oz silver at similar markups over spot as ASEs. I suggested that, being that these Auth. Dist. only have this status as they agreed to sell BULLION via this network, that they should of course be treating these a bullion and not numismatic pieces which he clearly realized that they are doing.
We spoke at length, not enough time to write in more detail now.
They are very aware and discussing this today.
He fully understood mine - and those you who voiced similar concerns - serious concerns with this situation.
Certainly the Auth. Dist. model has worked well for many years. It is CLEARLY not the proper outlet for limited mintage, numismatic issues such as these.
Keep up the heat!!!!! This is just SO wrong. >>
You took the initiative and you got them to give it the ol' goin' over, Raufus--good work!
--Severian the Lame
<< <i>
This only helps those who bought from APMEX. Assuming the distributors do not have the coins yet, the Mint should halt shipments immediately, refund all monies to distributors and come up with a new plan. >>
Wow that would make my day.That for once the US Mint gives the finger to its distributors for abusing the system
<< <i>I got through to one of The Mint attys. this a.m.
He said that there are two Directors of this program and that I should call them. I spoke with one at length and left a message on the other person's line.
The one with whom I spoke said that The Mint is aware of what is going on, that they've called some of the Auth. Dist. and suggested that they re-think their pricing, that The Mint created this monster by selling a limited mintage product (which they did not anticipate to be so limited this year) via the network,......
He said that there are meetings scheduled with the top brass today about this - what to do now and in the future.
I discussed much of what has been pointed out here with him. He said that no one likes the Got. to set pricing, but clearly these margins are far too high.
He was not sure what to do at present. He pointed out that there is no 5 oz bullion to compare them to. I told him that some of these dealers sell Aust. lunar 5 oz silver at similar markups over spot as ASEs. I suggested that, being that these Auth. Dist. only have this status as they agreed to sell BULLION via this network, that they should of course be treating these a bullion and not numismatic pieces which he clearly realized that they are doing.
We spoke at length, not enough time to write in more detail now.
They are very aware and discussing this today.
He fully understood mine - and those you who voiced similar concerns - serious concerns with this situation.
Certainly the Auth. Dist. model has worked well for many years. It is CLEARLY not the proper outlet for limited mintage, numismatic issues such as these.
Keep up the heat!!!!! This is just SO wrong. >>
Thank You! x 100 over and again.
like the sheep that I am.
I finally caved in and bought @1500.
I feel stupid.
<---------------------
<< <i>Gainesville raises the price to $1750 now. >>
Sounds like their whole pricing strategy is nothing more complicated than while the gravy's flowing they want to be right there with their kissers under the faucet.
<< <i>I don't expect the distributors to get penalized in the short term--I'm not sure how this would happen anyway. I suspect a rewriting of the regulations is in order. >>
..or actually using the distributors as their agreement states.....distributing minted to demand bullion coins
No rewrite needed...
<< <i>PS...
like the sheep that I am.
I finally caved in and bought @1500.
I feel stupid.
<---------------------
It's like buying lobster in a restaurant.....under price is the word "market"
<< <i>Has the US MInt shipped these products already to their "distributors"? >>
no.
they might go out later this week.
<< <i>
<< <i>Has the US MInt shipped these products already to their "distributors"? >>
no.
they might go out later this week. >>
If they have not yet shipped, why is the mint going forward with supplying distributors that have broken the rules of the contract with excessively high preorder sales?
<< <i>
<< <i>PS...
like the sheep that I am.
I finally caved in and bought @1500.
I feel stupid.
<---------------------
It's like buying lobster in a restaurant.....under price is the word "market" >>
this is mayhem and chaos.
I'm going to descend further into it and say....
I still think the prices will come down when the numismatic versions are released, and when the "in-hand" auctions hit eBay.
good luck all.
<< <i> I still think the prices will come down when the numismatic versions are released, and when the "in-hand" auctions hit eBay. >>
I'm afraid that's wishful thinking on your part. Yes, the Mint copy(s) may come down, depending what the price of silver is next year, but I've never seen an immediate price reduction on eBay, when "in-hand" auctions first appear.
The mint has STOPPED all deliveries to authorized dealers of the 5 oz Coins until further notice which means even those people who pre-ordered will not get them since the Authorized Mint distributors do not have them in hand.
All moneys will now have to be reinbursed.
Take that to the bank APMEX and the Auth Distributors
<< <i>PS...
like the sheep that I am.
I finally caved in and bought @1500.
I feel stupid.
<---------------------
If you can flippem for $1700 or $2000, why feel stooopid?
Instead.......................... feel like you belong since it seems that everybody is surfin this wave.
The name is LEE!
<< <i>Ok guys this just in from one of the online dealers who was planning on selling the sets for $1330. This came straight from one of the tradeers who got the notice right now...
The mint has STOPPED all deliveries to authorized dealers of the 5 oz Coins until further notice which means even those people who pre-ordered will not get them since the Authorized Mint distributors do not have them in hand.
All moneys will now have to be reinbursed.
Take that to the bank APMEX and the Auth Distributors >>
Interesting...has that been confirmed by anyone else? What traders are you referring to? Is it one of the authorized bullion dealers?
<< <i>Ok guys this just in from one of the online dealers who was planning on selling the sets for $1330. This came straight from one of the tradeers who got the notice right now... The mint has STOPPED all deliveries to authorized dealers of the 5 oz Coins until further notice which means even those people who pre-ordered will not get them since the Authorized Mint distributors do not have them in hand. >>
Are you pulling our legs???
If true, wow! What a smack upside the head by the mint! I didn't think they had the cojones. And to get something done that fast in government - it would be unprecedented!!!
mbogoman
https://pcgs.com/setregistry/collectors-showcase/classic-issues-colonials-through-1964/zambezi-collection-trade-dollars/7345Asesabi Lutho
If its of any importance I got this from Provident. I just spoke to one of the traders and they quoted me $1329.95 for the set to go on sale this week and within 5 minutes he had to caLL MEback and tell me they just got notice from their distributor
So now the dirtibutors are not only out of a healthy profit but lost customers as well
<< <i>Guys this is no BS...Gainesville coins just informed a customer of the mint's decision https://www.kitcomm.com/showthread.php?p=1160633&posted=1#post1160633
If its of any importance I got this from Provident. I just spoke to one of the traders and they quoted me $1329.95 for the set to go on sale this week and within 5 minutes he had to caLL MEback and tell me they just got notice from their distributor >>
Will it be a convenient excuse for the trader to cancel the sales and sell it at a higher price?
<< <i>
<< <i>Guys this is no BS...Gainesville coins just informed a customer of the mint's decision https://www.kitcomm.com/showthread.php?p=1160633&posted=1#post1160633
If its of any importance I got this from Provident. I just spoke to one of the traders and they quoted me $1329.95 for the set to go on sale this week and within 5 minutes he had to caLL MEback and tell me they just got notice from their distributor >>
Will it be a convenient excuse for the trader to cancel the sales and sell it at a higher price? >>
Im not so sure now because the mint will probably place a strict pricing on these to the distributors or perhaps sell it on the website. If the allotments go to the distributors I suspect they will be more in line with bullion pricing
Now, they will sell them to the distributors...who will sell them to the dealers at a more bullion-ish price...who will sell them to the public for $2500 a set.
mbogoman
https://pcgs.com/setregistry/collectors-showcase/classic-issues-colonials-through-1964/zambezi-collection-trade-dollars/7345Asesabi Lutho
<< <i>Anybody order status updates from the APMEX orders out there? How about somebody that ordered give them a call to check on your order??? >>
They still contend that the ship date wil be before or on the 17th.
Miles
Consider that the 2011 and later coins will likely be minted to demand and priced at a modest premium above spot, while the proofs will be sold by the Mint at a high premium to spot. This will tilt demand toward the lower-priced version, both for individual coins and for sets.
Consider also that more people collect bullion silver eagles than proof silver eagles. I think the same will hold true for the 5-ounce rounds, ensuring continuing demand by set collectors for the "key" 2010 issues.
My Adolph A. Weinman signature
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<< <i>If the above posts help and the mint goes back to Ampex the fix is easy for them. Offer a few silver rounds as compensation with every order of the 5OZers. This refunds the customer and helps Ampex and the mint save face. Also it means if AMpex has some rounds they bought at 15$ they can leverage the price of Silver ($30) and do well them selves!
So 8 rounds added to every order! >>
This only helps those who bought from APMEX. Assuming the distributors do not have the coins yet, the Mint should halt shipments immediately, refund all monies to distributors and come up with a new plan. >>
I agree!!!
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<< <i>Anybody order status updates from the APMEX orders out there? How about somebody that ordered give them a call to check on your order??? >>
They still contend that the ship date wil be before or on the 17th.
Miles >>
My order shows ship date..12/9....but I'm not holding my breath
<< <i>That's just great...here I took the plunge and happily paid the 1395...twice...to make sure I got my sets.
Now, they will sell them to the distributors...who will sell them to the dealers at a more bullion-ish price...who will sell them to the public for $2500 a set. >>
Perhaps that is what will happen in this case OR the mint will decide to market them via the website for a more fair distribution. The trader I spoke to told me their plan was to sell them for $1330 so my best guess is that now they may go higher or may not.
It wouldnt surprise me the mint will sell these instead.
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<< <i>I got through to one of The Mint attys. this a.m.
He said that there are two Directors of this program and that I should call them. I spoke with one at length and left a message on the other person's line.
The one with whom I spoke said that The Mint is aware of what is going on, that they've called some of the Auth. Dist. and suggested that they re-think their pricing, that The Mint created this monster by selling a limited mintage product (which they did not anticipate to be so limited this year) via the network,......
He said that there are meetings scheduled with the top brass today about this - what to do now and in the future.
I discussed much of what has been pointed out here with him. He said that no one likes the Got. to set pricing, but clearly these margins are far too high.
He was not sure what to do at present. He pointed out that there is no 5 oz bullion to compare them to. I told him that some of these dealers sell Aust. lunar 5 oz silver at similar markups over spot as ASEs. I suggested that, being that these Auth. Dist. only have this status as they agreed to sell BULLION via this network, that they should of course be treating these a bullion and not numismatic pieces which he clearly realized that they are doing.
We spoke at length, not enough time to write in more detail now.
They are very aware and discussing this today.
He fully understood mine - and those you who voiced similar concerns - serious concerns with this situation.
Certainly the Auth. Dist. model has worked well for many years. It is CLEARLY not the proper outlet for limited mintage, numismatic issues such as these.
Keep up the heat!!!!! This is just SO wrong. >>
You took the initiative and you got them to give it the ol' goin' over, Raufus--good work! >>
Thanks. This is just too wrong on so many levels to let it go.