<< <i>I wonder if the offer of buying them back still stands? >>
There was a letter from the vice president of marketing in the second box saying Apmex hoped the coins you receive could be re-sold to them later.
Hard to believe that bullion coins are allowed to be graded by APs via the TPGs, subsequently to be sold to the public via the 1 per HH rule that the Mint originally stipulated.
<< <i>Just to reaffirm my earlier post - My set was from Apmex and I got 3 bu - 1 ms68 - and 1 ms68pl. The shipping said 7 lbs. >>
Let me get this straight. Apmex has stated the coins are graded Choice BU and you got 2 graded 68's??? >>
ID Description Qty Price Total 59810 2010 5 oz Silver ATB 5-Coin Set PCGS BU or Better (May 13th) Graded by the Professional Coin Grading Service in Brilliant Uncirculated Condition or Better! We expect to be able to ship...
So we are getting more cherrypicked crap from APMEX, unbelievable!!!!!!!!!!!!!!!!!! And the US Mint will probably sit on their hands and say/do nothing.
<< <i>Just to reaffirm my earlier post - My set was from Apmex and I got 3 bu - 1 ms68 - and 1 ms68pl. The shipping said 7 lbs. >>
Let me get this straight. Apmex has stated the coins are graded Choice BU and you got 2 graded 68's??? >>
ID Description Qty Price Total 59810 2010 5 oz Silver ATB 5-Coin Set PCGS BU or Better (May 13th) Graded by the Professional Coin Grading Service in Brilliant Uncirculated Condition or Better! We expect to be able to ship...
the 68s must be the "Or Better" >>
Ridiculous. Absolutely ridiculous. I will ALWAYS shop elsewhere first before buying APMEX.
Successful transactions with keepdachange, tizofthe, adriana, wondercoin
If they were all BU like Amark, that's one thing where the AP chose to basically have PCGS prepare the coins for distribution. But if numerical grades were assigned, then APMEX spent extra money grading coins for which their profit margins were capped on a product they would sell out of very quickly. The ONLY reason for them to spend the money for numerical grades is to cherry-pick or some other motive in opposition to the mint directive.
OK here are my opinions on purchasing numerical graded coins from APMEX. They do have an ad to buy from the public, so they could have purchased these pucks from an individual and then sold them. What would be interesting would be for the MINT to verify these numbers on my slabs with PCGS to see if they were submitted by APMEX. Has anyone else besides me received numerical graded coins from APMEX?
So I have to post again the one line from my conversation with Apmex from four days ago in regards to if there would be any numerical grades on these...
Stephanie: It means that we are sending them out to you as BU but if you were to send them out to have them graded (which we are not) then you could get a better grade than BU... which is anything more than MS-63
<< <i>So I have to post again the one line from my conversation with Apmex from four days ago in regards to if there would be any numerical grades on these...
Stephanie: It means that we are sending them out to you as BU but if you were to send them out to have them graded (which we are not) then you could get a better grade than BU... which is anything more than MS-63 >>
First, if I recall your original post on this, Stephanie didn't seem all that sure about the whole situation.
Second, from the couple of posts I've seen from people receiving APMEX ATBs, there was a mix of BUs and graded. So, that contradicts Stephanie's statement that APMEX did not send for grades, just the BU label.
Third, what possibly could be the reason for AMPEX to ssubmit coins strictly for the purpose of obtaining a BU grade? Its an extra expense for them that doesn't improve sales--these limited-quantity sets would have sold out anyway.
Fourth, the BU grade actucally brings down value, I think. Its kind of a red flag (whether true or not) that the coin couldn't meet whatever minimum grade the submitter specified.
A reasonable explanation is they kept the high grades and supplemented the held-back coins with ones they obtained from third parties.
Someone posted a JackHuntCoins sale on Ebay for a 69dmpl? When I look at that seller today I find no evidence. Maybe I'm looking at the wrong one? Just curious. The id I'm looking at is jackhuntcoins.
<< <i>Someone posted a JackHuntCoins sale on Ebay for a 69dmpl? When I look at that seller today I find no evidence. Maybe I'm looking at the wrong one? Just curious. The id I'm looking at is jackhuntcoins. >>
I will hold any more comments till tomorrow accept think about this, one person who sent me there numbers off jacks set is only 20 numbers away from the one he sold on ebay. If you need more proof than please PM me the last 8 digits after the / from your jack hunt sets. I am not going to give up. wait till monday...........jack ebay account click here Oh and here is the link to his buddy who sold at least 6 other yellowstones and MORE.Jacks Buddy? Click here
I really can't go back reading the previous 14K posts but can someone pls. tell me... which ones are the most popular ATB's among the 5 issued in 2010? Thx in advance for your response.
You guys have lost it. If APMEX sent in the coins to PCGS for cherry picking purposes they would not pay to have the rejects slabbed BU and create this havoc. They would have had PCGS send them back raw and that would cost them much less for the review. I have no problem with APMEX. Their original price of $1395 has turned out to be in line. Do you complain to Walmart for their mark up on your pants? You were promised a "bullion" grade set and thats what you got. Ever find a mark on a bullion ASE?
<< <i>You guys have lost it. If APMEX sent in the coins to PCGS for cherry picking purposes they would not pay to have the rejects slabbed BU and create this havoc. They would have had PCGS send them back raw and that would cost them much less for the review. I have no problem with APMEX. Their original price of $1395 has turned out to be in line. Do you complain to Walmart for their mark up on your pants? You were promised a "bullion" grade set and thats what you got. Ever find a mark on a bullion ASE? >>
I agree with agentjim...the previous post ive read stated that they got a couple of 68's and the rest BU's that were much better looking than the 68's . I think if you send this BU's back to PCGS for re-grading that it will get a pretty good grade.
<< <i>You guys have lost it. If APMEX sent in the coins to PCGS for cherry picking purposes they would not pay to have the rejects slabbed BU and create this havoc. They would have had PCGS send them back raw and that would cost them much less for the review. I have no problem with APMEX. Their original price of $1395 has turned out to be in line. Do you complain to Walmart for their mark up on your pants? You were promised a "bullion" grade set and thats what you got. Ever find a mark on a bullion ASE? >>
I agree with agentjim...the previous post ive read stated that they got a couple of 68's and the rest BU's that were much better looking than the 68's . I think if you send this BU's back to PCGS for re-grading that it will get a pretty good grade. >>
Your both missing the point. Why would any AP pay to have coins graded? It is much cheaper to get them all BU than to have Grades, or why not Raw even cheaper. So Why would they have some graded and some BU Ask Jack. Once again will wait and see if they send out any 69dm. NO AP SHOULD BE ALLOWED to have any of these graded anything else BUT BU. Period. Will see what others report this next week, But if you TRULY Believe that its ok for them to have a numeric grade than this picture is for you...........Enjoy
Quote: "Third, what possibly could be the reason for AMPEX to ssubmit coins strictly for the purpose of obtaining a BU grade? Its an extra expense for them that doesn't improve sales--these limited-quantity sets would have sold out anyway.
Fourth, the BU grade actucally brings down value, I think. Its kind of a red flag (whether true or not) that the coin couldn't meet whatever minimum grade the submitter specified.
A reasonable explanation is they kept the high grades and supplemented the held-back coins with ones they obtained from third parties. "
I was quite surprised when I got my set from A-Mark way back in late January and they were slabbed Choice BU First Strike. I had never heard of this BU designation from PCGS. But, these were the first slabbed coins I had gotten, so what did I know.
Now I'm beginning to wonder if A-Mark was the first to employ this process to cherry pick out the very highest grades for later profit denied them by the original APMEX pricing shenanigans. Or was this just a way to package the pucks ?
The other AP's have emulated this process ever since, thus the long delays in offering for sale and shipping out their allotments. Imagine PCGS getting thousands of pucks in a short period of time, say middle to late January. You think the AP's don't watch what each other is doing? I'll bet cartoon light bulbs appeared over a lot of heads at the other AP's after A-Mark set the practice in motion.
So a question comes to mind....Has anyone resubmitted their A-Mark pucks for numerical grading? Have you gotten any 69's, PL or DMPL back?
So a question comes to mind....Has anyone resubmitted their A-Mark pucks for numerical grading? Have you gotten any 69's, PL or DMPL back? >>
The AMarks were completely legit....I have seen no reports of graded coins coming from them (unlike Jack and now APMEX). They were all CH BU. I had two coins from my set of Amarks graded and got a Yose 69PL and GC 69DMPL back. All five were great looking coins. Definitely not cherrypicked. A friend had a similar experience.
AMark did it, I believe, because they got a good deal and they didn't have to worry about packaging. Plus, there was a lot in it for PCGS because if folks want their coins graded, they will likely send them right back to PCGS (because FS was already paid for).
APMEX and Jack are a different ballgame. Seems like there are graded coins coming from both. I don't see any reason why an AP would have coins graded, unless they were cherrypicking. Due to the Mint's rules, there is absolutely no reason to grade these coins.
Successful transactions with keepdachange, tizofthe, adriana, wondercoin
So a question comes to mind....Has anyone resubmitted their A-Mark pucks for numerical grading? Have you gotten any 69's, PL or DMPL back? >>
The AMarks were completely legit....I have seen no reports of graded coins coming from them (unlike Jack and now APMEX). They were all CH BU. I had two coins from my set of Amarks graded and got a Yose 69PL and GC 69DMPL back. All five were great looking coins. Definitely not cherrypicked. A friend had a similar experience.
AMark did it, I believe, because they got a good deal and they didn't have to worry about packaging. Plus, there was a lot in it for PCGS because if folks want their coins graded, they will likely send them right back to PCGS (because FS was already paid for).
APMEX and Jack are a different ballgame. Seems like there are graded coins coming from both. I don't see any reason why an AP would have coins graded, unless they were cherrypicking. Due to the Mint's rules, there is absolutely no reason to grade these coins. >>
Now that you mention it, I think your right. The shipping and handling was probably their motive.
Although, the other AP's may have gotten spurred on to the wrong path by seeing what A-Mark did. They were the first and figured out how to distribute their allotment and did so well before the others.
<< <i>You guys have lost it. If APMEX sent in the coins to PCGS for cherry picking purposes they would not pay to have the rejects slabbed BU and create this havoc. They would have had PCGS send them back raw and that would cost them much less for the review. I have no problem with APMEX. Their original price of $1395 has turned out to be in line. Do you complain to Walmart for their mark up on your pants? You were promised a "bullion" grade set and thats what you got. Ever find a mark on a bullion ASE? >>
I agree with agentjim...the previous post ive read stated that they got a couple of 68's and the rest BU's that were much better looking than the 68's . I think if you send this BU's back to PCGS for re-grading that it will get a pretty good grade. >>
Your both missing the point. Why would any AP pay to have coins graded? It is much cheaper to get them all BU than to have Grades, or why not Raw even cheaper. So Why would they have some graded and some BU Ask Jack. Once again will wait and see if they send out any 69dm. NO AP SHOULD BE ALLOWED to have any of these graded anything else BUT BU. Period. Will see what others report this next week, But if you TRULY Believe that its ok for them to have a numeric grade than this picture is for you...........Enjoy >>
Well both of you each have a valid point. I am in No way endorsing any AP's Cherrypicking their products like these ATB's and then selling us other than the BU ones directly from the mint without them being graded. If this is indeed the case then Shame on them!
<< <i>Quote: "Third, what possibly could be the reason for AMPEX to ssubmit coins strictly for the purpose of obtaining a BU grade? Its an extra expense for them that doesn't improve sales--these limited-quantity sets would have sold out anyway.
Fourth, the BU grade actucally brings down value, I think. Its kind of a red flag (whether true or not) that the coin couldn't meet whatever minimum grade the submitter specified.
A reasonable explanation is they kept the high grades and supplemented the held-back coins with ones they obtained from third parties. "
I was quite surprised when I got my set from A-Mark way back in late January and they were slabbed Choice BU First Strike. I had never heard of this BU designation from PCGS. But, these were the first slabbed coins I had gotten, so what did I know.
Now I'm beginning to wonder if A-Mark was the first to employ this process to cherry pick out the very highest grades for later profit denied them by the original APMEX pricing shenanigans. Or was this just a way to package the pucks ?
The other AP's have emulated this process ever since, thus the long delays in offering for sale and shipping out their allotments. Imagine PCGS getting thousands of pucks in a short period of time, say middle to late January. You think the AP's don't watch what each other is doing? I'll bet cartoon light bulbs appeared over a lot of heads at the other AP's after A-Mark set the practice in motion.
So a question comes to mind....Has anyone resubmitted their A-Mark pucks for numerical grading? Have you gotten any 69's, PL or DMPL back? >>
From my 5 coin set of BU's from AMARK I got: Hot springs MS68 DMPL Yellowstone MS69 PL Yosemite MS68 DMPL Grand canyon MS68 PL Mt hood MS69 PL
<<II. PURPOSE The United States Mint is interested in ensuring that the coins minted and issued under its American Eagle and America the Beautiful Silver Bullion Coin Programs are distributed effectively and efficiently and in a manner that ensures that the bullion coins are competitive with bullion products produced by other international mints. To accomplish this goal, the United States Mint seeks to utilize private sector distribution channels that ensure that the coins are:
A. As widely available to the public as possible; B. Bought and sold at prices/premiums that are in line with other similar silver bullion coin products in the marketplace; and C. Bought and sold in a manner that ensures relatively low transaction costs.>>
The mint stepped in to ensure that item C happened back in Dec.
Items A, B and C pertain to the mints intention for the APs to serve as private sector distributors of the Mint's bullion production for the public to purchase.
IMO item C is key, it says in so many words - the APs are not allowed to rape, plunder and pillage excessive profits from the public when selling US Mint bullion. That's part of the privilege to be an AP.
Now evidence points to certain privileged APs with access to the mint's bullion are working a system to sidestep the Mint's intentions.
Again.
Grading bullion coins and selling lesser grades to the public while conducting feebay sales of bullion that is of the best grade is disingenuous and deceptive.
IMO at least one AP is taking advantage of their exclusive rights to purchase bullion from the mint. No doubt about it.
New reports of at least some graded coins from Apmex is troubling. The next few days will reveal the scope of Apmex's selling graded coins to the public in order to meet the Mints directive of 1 per HH.
Srsly. The mint really needs to stop APs from grading bullion. It's a no brainer, if A, B + C are to be satisfied above.
Apmex might have bought these PCGS graded coins from the public, so maybe these sets are not cherrypicked. They are making up their shortfall with the graded sets bought from the public. Could be possible.
Now I need to decide if I want to cancel my PCGS 2011 BU set from Amark. Seems like a no brainer but still on the fence.
I bought numerous sealed boxes of Amark and the were not cherrypicked. I probably sent in 90% of what I had from them and probably had 60% of those grade out at some sort of 69. I reaceived my Apmex set and wouldn't send in any of the five. They are nice but would all grade probably 67. Imagine that.
Let them keep all there BU's and 68's that they could not sell or had a hard time selling to HSN. Looks like they sent them in with a min grade of MS-69 and the rest in BU holders if it dose not make the grade. I'll just buy my coins from the US mint this way I know it was not Cherryed.
well looks like jack decided it was more profitable to sell them all to one outlet--they sent me an email saying thanks for ordering from them last time--and if i want another--feel free to shop gainsville--so add another layer on to distribution fees, and also, have a player that most definitely will cherry pick the coins. Thanks jack!!
Dear ATB Customer, This week the United States Mint is releasing the first two of the 2011 America the Beautiful 5oz silver bullion coins. The coins being released are Gettysburg National Military Park and Glacier National Park.
We have had many requests to provide these new Mint offerings. Unfortunately, Jack Hunt Coin Broker, Inc. will not be selling these coins directly to the public. If you would like to purchase 2011 America the Beautiful 5oz silver bullion coins we recommend Gainesville Coins @ www.gainesvillecoins.com or call them at 813-482-9300.
We appreciate the opportunity to have served you and we are confident that Gainesville Coins will be able to meet your future America the Beautiful coin series needs.
Sincerely,
JACK HUNT COIN BROKER INC.
America the Beautiful - P.O. Box 4189 - Kenmore NY 14217
<< <i>well looks like jack decided it was more profitable to sell them all to one outlet--they sent me an email saying thanks for ordering from them last time--and if i want another--feel free to shop gainsville--so add another layer on to distribution fees, and also, have a player that most definitely will cherry pick the coins. Thanks jack!!
Dear ATB Customer, This week the United States Mint is releasing the first two of the 2011 America the Beautiful 5oz silver bullion coins. The coins being released are Gettysburg National Military Park and Glacier National Park.
We have had many requests to provide these new Mint offerings. Unfortunately, Jack Hunt Coin Broker, Inc. will not be selling these coins directly to the public. If you would like to purchase 2011 America the Beautiful 5oz silver bullion coins we recommend Gainesville Coins @ www.gainesvillecoins.com or call them at 813-482-9300.
We appreciate the opportunity to have served you and we are confident that Gainesville Coins will be able to meet your future America the Beautiful coin series needs.
Sincerely,
JACK HUNT COIN BROKER INC.
America the Beautiful - P.O. Box 4189 - Kenmore NY 14217 >>
That should not come as a surprise to anyone. Most AP's do not cater to the public but instead sell to a network of bullion dealers that do. BTW, the Mint's website has that list of secondary dealers available and it was posted somewhere in the first 100 or 200 so pages of this thread. You need to ask yourself, does J.H. sell ASE's, APE's or AGE's directly to the public?
"Bongo drive 1984 Lincoln that looks like old coin dug from ground."
Ok, so at first they didnt sell to the public, then they did, now they wont. I love consistency.
The way i see it, they saw the opportunity to make a killing by selling to the public and bypassing the way they normally did business--after all, if a killing was to be made, why not? It appears to be the american way. But, big bad mint stepped in and said, ahem, play by the rules boys, remember we have rules. So Then they cherry picked what they could, got them graded, sold those as best they could and sold the trash to the us, the public.
Now, they have gone back to their old form, since making a killing was just harder than they first assumed.
I am trying to figure out my response to this and what I have learned. It seems greed was the big theme all along for the initial 2010 ATBs on all levels. People tried to profit at every step of the distribution of these bullion coins. Lots of people got screwed somehow along the way. Guess I will abandon ATB bullion issues and focus on mint releases only from now on. Is that the way to go? Thanks to all on this great board!
Successful trades/buys/sells with gdavis70, adriana, wondercoin, Weiss, nibanny, IrishMike, commoncents05, pf70collector, kyleknap, barefootjuan, coindeuce, WhiteTornado, Nefprollc, ajw, JamesM, PCcoins, slinc, coindudeonebay,beernuts, and many more
Grading bullion coins and selling lesser grades to the public while conducting feebay sales of bullion that is of the best grade is disingenuous and deceptive.
Grading bullion coins and selling lesser grades to the public while conducting feebay sales of bullion that is of the best grade is disingenuous and deceptive.
Grading bullion coins and selling lesser grades to the public while conducting feebay sales of bullion that is of the best grade is disingenuous and deceptive.
Grading bullion coins and selling lesser grades to the public while conducting feebay sales of bullion that is of the best grade is disingenuous and deceptive.
Grading bullion coins and selling lesser grades to the public while conducting feebay sales of bullion that is of the best grade is disingenuous and deceptive.
Just thought I'd reiterate a great point made by Kudbegud.
I'm probably not going to collect any of the pucks. I might buy them as my budget allows for bullion purposes, as premium bullion on a semi-speculative basis. At some point, I might buy an unopened green monster box like one of our new members just did with Gettysburg.
In my opinion, the collectable aspect of these will deteriorate quickly as more issues are released and collectors realize that they can't keep up, are difficult to store, and are required by the APs to pay outrageous prices up front for MS-69 specimens of the new issues.
Furthermore, I do believe that the lowest mintages are yet to come, as interest wanes and as demand estimates by the Mint turn into an end-of-the-year guessing game very similar to the Gold Spouses.
I'm not willing to collect MS-69 specimens of these at a huge premium out of the gate. I don't see the payoff for the risk taken.
Q: Are You Printing Money? Bernanke: Not Literally
Comments
The shipping said 7 lbs.
<< <i>Just to reaffirm my earlier post - My set was from Apmex and I got 3 bu - 1 ms68 - and 1 ms68pl.
The shipping said 7 lbs. >>
Uh-oh...
Looked like this?
<< <i>
<< <i>Just to reaffirm my earlier post - My set was from Apmex and I got 3 bu - 1 ms68 - and 1 ms68pl.
The shipping said 7 lbs. >>
Uh-oh...
I used to be famous now I just collect coins.
Link to My Registry Set.
https://pcgs.com/setregistry/quarters/washington-quarters-specialty-sets/washington-quarters-complete-variety-set-circulation-strikes-1932-1964/publishedset/78469
Varieties Are The Spice Of LIFE and Thanks to Those who teach us what to search For.
<< <i>I wonder if the offer of buying them back still stands? >>
There was a letter from the vice president of marketing in the second box saying Apmex hoped the coins you receive could be re-sold to them later.
Hard to believe that bullion coins are allowed to be graded by APs via the TPGs, subsequently to be sold to the public via the 1 per HH rule that the Mint originally stipulated.
And it appears that the Mint is OK with that.
Wow.
<< <i>Just to reaffirm my earlier post - My set was from Apmex and I got 3 bu - 1 ms68 - and 1 ms68pl.
The shipping said 7 lbs. >>
Let me get this straight. Apmex has stated the coins are graded Choice BU and you got 2 graded 68's???
<< <i>
<< <i>Just to reaffirm my earlier post - My set was from Apmex and I got 3 bu - 1 ms68 - and 1 ms68pl.
The shipping said 7 lbs. >>
Let me get this straight. Apmex has stated the coins are graded Choice BU and you got 2 graded 68's??? >>
ID Description Qty Price Total
59810 2010 5 oz Silver ATB 5-Coin Set PCGS BU or Better (May 13th)
Graded by the Professional Coin Grading Service in Brilliant Uncirculated Condition or Better! We expect to be able to ship...
the 68s must be the "Or Better"
BTW i don`t think any complaining to the mint will do any good.
<< <i>
<< <i>Just to reaffirm my earlier post - My set was from Apmex and I got 3 bu - 1 ms68 - and 1 ms68pl.
The shipping said 7 lbs. >>
Let me get this straight. Apmex has stated the coins are graded Choice BU and you got 2 graded 68's??? >>
That is exactly what I got. The 3 bu coins actually looked better than the 2 graded ones.
<< <i>
<< <i>
<< <i>Just to reaffirm my earlier post - My set was from Apmex and I got 3 bu - 1 ms68 - and 1 ms68pl.
The shipping said 7 lbs. >>
Let me get this straight. Apmex has stated the coins are graded Choice BU and you got 2 graded 68's??? >>
ID Description Qty Price Total
59810 2010 5 oz Silver ATB 5-Coin Set PCGS BU or Better (May 13th)
Graded by the Professional Coin Grading Service in Brilliant Uncirculated Condition or Better! We expect to be able to ship...
the 68s must be the "Or Better" >>
Ridiculous. Absolutely ridiculous. I will ALWAYS shop elsewhere first before buying APMEX.
Proofcollection - Did you mean to say the APS instead of PCGS?
They do have an ad to buy from the public, so they could have purchased
these pucks from an individual and then sold them.
What would be interesting would be for the MINT to verify these numbers
on my slabs with PCGS to see if they were submitted by APMEX.
Has anyone else besides me received numerical graded coins from APMEX?
We can ask "Did you submit the ATBs for grading that you are now selling?"
to take up the story.
If everyone who posts here threatened AMPEX with no future buying it would make no difference to them.
The US Mint either knows or does not, but they don't care either.
Only sunlight, the public embarrassment of a published story on a site that gets hits USMINT Blog, COIN-NEWS, NumiNews, CoinWorld.
The real question to me is why one of these sites, who regularly publish stories on this issue is not writing anything about it.
Loves me some shiny!
Stephanie: It means that we are sending them out to you as BU but if you were to send them out to have them graded (which we are not) then you could get a better grade than BU... which is anything more than MS-63
<< <i>So I have to post again the one line from my conversation with Apmex from four days ago in regards to if there would be any numerical grades on these...
Stephanie: It means that we are sending them out to you as BU but if you were to send them out to have them graded (which we are not) then you could get a better grade than BU... which is anything more than MS-63 >>
First, if I recall your original post on this, Stephanie didn't seem all that sure about the whole situation.
Second, from the couple of posts I've seen from people receiving APMEX ATBs, there was a mix of BUs and graded. So, that contradicts Stephanie's statement that APMEX did not send for grades, just the BU label.
Third, what possibly could be the reason for AMPEX to ssubmit coins strictly for the purpose of obtaining a BU grade? Its an extra expense for them that doesn't improve sales--these limited-quantity sets would have sold out anyway.
Fourth, the BU grade actucally brings down value, I think. Its kind of a red flag (whether true or not) that the coin couldn't meet whatever minimum grade the submitter specified.
A reasonable explanation is they kept the high grades and supplemented the held-back coins with ones they obtained from third parties.
<< <i>I wonder if the offer of buying them back still stands? >>
I called APMEX's trading dept on Friday and yes they are still buying the 2010 sets for ........... 1000.00 !
<< <i> Ridiculous. Absolutely ridiculous. I will ALWAYS shop elsewhere first before buying APMEX. >>
I agree but I heard the sameline from everybody at the beginning of this fiasco when they priced their sets at $1395....
Everything was forgotten when APMEX offered their latest sets and people bought from them anyway....
Now the same cries of "I won't deal with APMEX" are heard again
Fickle group these numismatists are.....
Short memories or attention spans, take your pick, lol!
<< <i>Someone posted a JackHuntCoins sale on Ebay for a 69dmpl? When I look at that seller today I find no evidence. Maybe I'm looking at the wrong one? Just curious. The id I'm looking at is jackhuntcoins. >>
I will hold any more comments till tomorrow accept think about this, one person who sent me there numbers off jacks set is only 20 numbers away from the one he sold on ebay. If you need more proof than please PM me the last 8 digits after the / from your jack hunt sets. I am not going to give up. wait till monday...........jack ebay account click here
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.
Coinfame,Kaelasdad,Type2,UNLVino,MICHAELDIXON
Justacommeman,tydye,78saen,123cents,blue62vette,Segoja,Nibanny
<< <i>You guys have lost it. If APMEX sent in the coins to PCGS for cherry picking purposes they would not pay to have the rejects slabbed BU and create this havoc. They would have had PCGS send them back raw and that would cost them much less for the review. I have no problem with APMEX. Their original price of $1395 has turned out to be in line. Do you complain to Walmart for their mark up on your pants? You were promised a "bullion" grade set and thats what you got. Ever find a mark on a bullion ASE? >>
I agree with agentjim...the previous post ive read stated that they got a couple of 68's and the rest BU's that were much better looking than the 68's . I think if you send this BU's back to PCGS for re-grading that it will get a pretty good grade.
Coinfame,Kaelasdad,Type2,UNLVino,MICHAELDIXON
Justacommeman,tydye,78saen,123cents,blue62vette,Segoja,Nibanny
<< <i>
<< <i>You guys have lost it. If APMEX sent in the coins to PCGS for cherry picking purposes they would not pay to have the rejects slabbed BU and create this havoc. They would have had PCGS send them back raw and that would cost them much less for the review. I have no problem with APMEX. Their original price of $1395 has turned out to be in line. Do you complain to Walmart for their mark up on your pants? You were promised a "bullion" grade set and thats what you got. Ever find a mark on a bullion ASE? >>
I agree with agentjim...the previous post ive read stated that they got a couple of 68's and the rest BU's that were much better looking than the 68's . I think if you send this BU's back to PCGS for re-grading that it will get a pretty good grade.
Your both missing the point. Why would any AP pay to have coins graded? It is much cheaper to get them all BU than to have Grades, or why not Raw even cheaper. So Why would they have some graded and some BU Ask Jack. Once again will wait and see if they send out any 69dm. NO AP SHOULD BE ALLOWED to have any of these graded anything else BUT BU. Period. Will see what others report this next week, But if you TRULY Believe that its ok for them to have a numeric grade than this picture is for you...........Enjoy
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.
"Third, what possibly could be the reason for AMPEX to ssubmit coins strictly for the purpose of obtaining a BU grade? Its an extra expense for them that doesn't improve sales--these limited-quantity sets would have sold out anyway.
Fourth, the BU grade actucally brings down value, I think. Its kind of a red flag (whether true or not) that the coin couldn't meet whatever minimum grade the submitter specified.
A reasonable explanation is they kept the high grades and supplemented the held-back coins with ones they obtained from third parties. "
I was quite surprised when I got my set from A-Mark way back in late January and they were slabbed Choice BU First Strike. I had never heard of this BU designation from PCGS. But, these were the first slabbed coins I had gotten, so what did I know.
Now I'm beginning to wonder if A-Mark was the first to employ this process to cherry pick out the very highest grades for later profit denied them by the original APMEX pricing shenanigans. Or was this just a way to package the pucks ?
The other AP's have emulated this process ever since, thus the long delays in offering for sale and shipping out their allotments. Imagine PCGS getting thousands of pucks in a short period of time, say middle to late January. You think the AP's don't watch what each other is doing? I'll bet cartoon light bulbs appeared over a lot of heads at the other AP's after A-Mark set the practice in motion.
So a question comes to mind....Has anyone resubmitted their A-Mark pucks for numerical grading? Have you gotten any 69's, PL or DMPL back?
<< <i>
So a question comes to mind....Has anyone resubmitted their A-Mark pucks for numerical grading? Have you gotten any 69's, PL or DMPL back? >>
The AMarks were completely legit....I have seen no reports of graded coins coming from them (unlike Jack and now APMEX). They were all CH BU. I had two coins from my set of Amarks graded and got a Yose 69PL and GC 69DMPL back. All five were great looking coins. Definitely not cherrypicked. A friend had a similar experience.
AMark did it, I believe, because they got a good deal and they didn't have to worry about packaging. Plus, there was a lot in it for PCGS because if folks want their coins graded, they will likely send them right back to PCGS (because FS was already paid for).
APMEX and Jack are a different ballgame. Seems like there are graded coins coming from both. I don't see any reason why an AP would have coins graded, unless they were cherrypicking. Due to the Mint's rules, there is absolutely no reason to grade these coins.
<< <i>
<< <i>
So a question comes to mind....Has anyone resubmitted their A-Mark pucks for numerical grading? Have you gotten any 69's, PL or DMPL back? >>
The AMarks were completely legit....I have seen no reports of graded coins coming from them (unlike Jack and now APMEX). They were all CH BU. I had two coins from my set of Amarks graded and got a Yose 69PL and GC 69DMPL back. All five were great looking coins. Definitely not cherrypicked. A friend had a similar experience.
AMark did it, I believe, because they got a good deal and they didn't have to worry about packaging. Plus, there was a lot in it for PCGS because if folks want their coins graded, they will likely send them right back to PCGS (because FS was already paid for).
APMEX and Jack are a different ballgame. Seems like there are graded coins coming from both. I don't see any reason why an AP would have coins graded, unless they were cherrypicking. Due to the Mint's rules, there is absolutely no reason to grade these coins. >>
Now that you mention it, I think your right. The shipping and handling was probably their motive.
Although, the other AP's may have gotten spurred on to the wrong path by seeing what A-Mark did. They were the first and figured out how to distribute their allotment and did so well before the others.
<< <i>So a question comes to mind....Has anyone resubmitted their A-Mark pucks for numerical grading? Have you gotten any 69's, PL or DMPL back? >> >>
Yep, me, too. My Amarks were very nice. I know I got a Yosemite 69 DMPL, GC MS69, two 68 DMPLs and a 68 PL.
mbogoman
https://pcgs.com/setregistry/collectors-showcase/classic-issues-colonials-through-1964/zambezi-collection-trade-dollars/7345Asesabi Lutho
<< <i>
<< <i>
<< <i>You guys have lost it. If APMEX sent in the coins to PCGS for cherry picking purposes they would not pay to have the rejects slabbed BU and create this havoc. They would have had PCGS send them back raw and that would cost them much less for the review. I have no problem with APMEX. Their original price of $1395 has turned out to be in line. Do you complain to Walmart for their mark up on your pants? You were promised a "bullion" grade set and thats what you got. Ever find a mark on a bullion ASE? >>
I agree with agentjim...the previous post ive read stated that they got a couple of 68's and the rest BU's that were much better looking than the 68's . I think if you send this BU's back to PCGS for re-grading that it will get a pretty good grade.
Your both missing the point. Why would any AP pay to have coins graded? It is much cheaper to get them all BU than to have Grades, or why not Raw even cheaper. So Why would they have some graded and some BU Ask Jack. Once again will wait and see if they send out any 69dm. NO AP SHOULD BE ALLOWED to have any of these graded anything else BUT BU. Period. Will see what others report this next week, But if you TRULY Believe that its ok for them to have a numeric grade than this picture is for you...........Enjoy
Well both of you each have a valid point. I am in No way endorsing any AP's Cherrypicking their products like these ATB's and then selling us other than the BU ones directly from the mint without them being graded. If this is indeed the case then Shame on them!
Coinfame,Kaelasdad,Type2,UNLVino,MICHAELDIXON
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<< <i>Quote:
"Third, what possibly could be the reason for AMPEX to ssubmit coins strictly for the purpose of obtaining a BU grade? Its an extra expense for them that doesn't improve sales--these limited-quantity sets would have sold out anyway.
Fourth, the BU grade actucally brings down value, I think. Its kind of a red flag (whether true or not) that the coin couldn't meet whatever minimum grade the submitter specified.
A reasonable explanation is they kept the high grades and supplemented the held-back coins with ones they obtained from third parties. "
I was quite surprised when I got my set from A-Mark way back in late January and they were slabbed Choice BU First Strike. I had never heard of this BU designation from PCGS. But, these were the first slabbed coins I had gotten, so what did I know.
Now I'm beginning to wonder if A-Mark was the first to employ this process to cherry pick out the very highest grades for later profit denied them by the original APMEX pricing shenanigans. Or was this just a way to package the pucks ?
The other AP's have emulated this process ever since, thus the long delays in offering for sale and shipping out their allotments. Imagine PCGS getting thousands of pucks in a short period of time, say middle to late January. You think the AP's don't watch what each other is doing? I'll bet cartoon light bulbs appeared over a lot of heads at the other AP's after A-Mark set the practice in motion.
So a question comes to mind....Has anyone resubmitted their A-Mark pucks for numerical grading? Have you gotten any 69's, PL or DMPL back? >>
From my 5 coin set of BU's from AMARK I got:
Hot springs MS68 DMPL
Yellowstone MS69 PL
Yosemite MS68 DMPL
Grand canyon MS68 PL
Mt hood MS69 PL
Last week Jack sold a YS 69dmpl. Now another is up on feebay. Prediction: next week or sooner will come another 69dmpl on feebay from the Jackster.
Silver AP Req'ts
<<II.
PURPOSE
The United States Mint is interested in ensuring that the coins minted and issued under its American Eagle and America the Beautiful Silver Bullion Coin Programs are distributed effectively and efficiently and in a manner that ensures that the bullion coins are competitive with bullion products produced by other international mints. To accomplish this goal, the United States Mint seeks to utilize private sector distribution channels that ensure that the coins are:
A. As widely available to the public as possible;
B. Bought and sold at prices/premiums that are in line with other similar silver bullion coin products in the marketplace; and
C. Bought and sold in a manner that ensures relatively low transaction costs.>>
The mint stepped in to ensure that item C happened back in Dec.
Items A, B and C pertain to the mints intention for the APs to serve as private sector distributors of the Mint's bullion production for the public to purchase.
IMO item C is key, it says in so many words - the APs are not allowed to rape, plunder and pillage excessive profits from the public when selling US Mint bullion. That's part of the privilege to be an AP.
Now evidence points to certain privileged APs with access to the mint's bullion are working a system to sidestep the Mint's intentions.
Again.
Grading bullion coins and selling lesser grades to the public while conducting feebay sales of bullion that is of the best grade is disingenuous and deceptive.
IMO at least one AP is taking advantage of their exclusive rights to purchase bullion from the mint. No doubt about it.
New reports of at least some graded coins from Apmex is troubling. The next few days will reveal the scope of Apmex's selling graded coins to the public in order to meet the Mints directive of 1 per HH.
Srsly. The mint really needs to stop APs from grading bullion. It's a no brainer, if A, B + C are to be satisfied above.
Now I need to decide if I want to cancel my PCGS 2011 BU set from Amark. Seems like a no brainer but still on the fence.
Box of 20
Hoard the keys.
Dear ATB Customer,
This week the United States Mint is releasing the first two of the 2011 America the Beautiful 5oz silver bullion coins. The coins being released are Gettysburg National Military Park and Glacier National Park.
We have had many requests to provide these new Mint offerings. Unfortunately, Jack Hunt Coin Broker, Inc. will not be selling these coins directly to the public. If you would like to purchase 2011 America the Beautiful 5oz silver bullion coins we recommend Gainesville Coins @ www.gainesvillecoins.com or call them at 813-482-9300.
We appreciate the opportunity to have served you and we are confident that Gainesville Coins will be able to meet your future America the Beautiful coin series needs.
Sincerely,
JACK HUNT COIN BROKER INC.
America the Beautiful - P.O. Box 4189 - Kenmore NY 14217
<< <i>well looks like jack decided it was more profitable to sell them all to one outlet--they sent me an email saying thanks for ordering from them last time--and if i want another--feel free to shop gainsville--so add another layer on to distribution fees, and also, have a player that most definitely will cherry pick the coins. Thanks jack!!
Dear ATB Customer,
This week the United States Mint is releasing the first two of the 2011 America the Beautiful 5oz silver bullion coins. The coins being released are Gettysburg National Military Park and Glacier National Park.
We have had many requests to provide these new Mint offerings. Unfortunately, Jack Hunt Coin Broker, Inc. will not be selling these coins directly to the public. If you would like to purchase 2011 America the Beautiful 5oz silver bullion coins we recommend Gainesville Coins @ www.gainesvillecoins.com or call them at 813-482-9300.
We appreciate the opportunity to have served you and we are confident that Gainesville Coins will be able to meet your future America the Beautiful coin series needs.
Sincerely,
JACK HUNT COIN BROKER INC.
America the Beautiful - P.O. Box 4189 - Kenmore NY 14217 >>
That should not come as a surprise to anyone. Most AP's do not cater to the public but instead sell to a network of bullion dealers that do. BTW, the Mint's website has that list of secondary dealers available and it was posted somewhere in the first 100 or 200 so pages of this thread. You need to ask yourself, does J.H. sell ASE's, APE's or AGE's directly to the public?
The way i see it, they saw the opportunity to make a killing by selling to the public and bypassing the way they normally did business--after all, if a killing was to be made, why not? It appears to be the american way. But, big bad mint stepped in and said, ahem, play by the rules boys, remember we have rules. So Then they cherry picked what they could, got them graded, sold those as best they could and sold the trash to the us, the public.
Now, they have gone back to their old form, since making a killing was just harder than they first assumed.
Thanks for clarifying
It seems greed was the big theme all along for the initial 2010 ATBs on all levels.
People tried to profit at every step of the distribution of these bullion coins.
Lots of people got screwed somehow along the way.
Guess I will abandon ATB bullion issues and focus on mint releases only from now on.
Is that the way to go?
Thanks to all on this great board!
T understand what everyone is saying but I prefer to own the bullion series as they are much more attractive than the collector series.
<< <i>T understand what everyone is saying but I prefer to own the bullion series as they are much more attractive than the collector series. >>
I think I would like to see all 5 of the P pucks before making a final decision...Right now I am leaning towards the collector's version
The HS design is not my favorite and I would like to see what the GC and others look like in person
Grading bullion coins and selling lesser grades to the public while conducting feebay sales of bullion that is of the best grade is disingenuous and deceptive.
Grading bullion coins and selling lesser grades to the public while conducting feebay sales of bullion that is of the best grade is disingenuous and deceptive.
Grading bullion coins and selling lesser grades to the public while conducting feebay sales of bullion that is of the best grade is disingenuous and deceptive.
Grading bullion coins and selling lesser grades to the public while conducting feebay sales of bullion that is of the best grade is disingenuous and deceptive.
Just thought I'd reiterate a great point made by Kudbegud.
I'm probably not going to collect any of the pucks. I might buy them as my budget allows for bullion purposes, as premium bullion on a semi-speculative basis. At some point, I might buy an unopened green monster box like one of our new members just did with Gettysburg.
In my opinion, the collectable aspect of these will deteriorate quickly as more issues are released and collectors realize that they can't keep up, are difficult to store, and are required by the APs to pay outrageous prices up front for MS-69 specimens of the new issues.
Furthermore, I do believe that the lowest mintages are yet to come, as interest wanes and as demand estimates by the Mint turn into an end-of-the-year guessing game very similar to the Gold Spouses.
I'm not willing to collect MS-69 specimens of these at a huge premium out of the gate. I don't see the payoff for the risk taken.
I knew it would happen.