I tracked down the Coins N Things email address and sent him an email. Sounds like no go. Below is the email (bottom) and response (above). To bad, it probably was more volume than he could or wanted to handle.
"Sent: Saturday, December 11, 2010 5:13 PM Subject: RE: question
Thanks for writing. Not offering these for sale.
Regards
Larry Almeida
Sent: Saturday, December 11, 2010 4:05 PM To: Larry Almeida Subject: question
Hello, I am a member of PCGS forum and the message board indicated you may/will be selling the 5 once America the beautiful coins. If this is correct would you let me know and how I can get in touch with you and purchase a set.
Thank God the thread is saved! Had fallen to page THREE last night!!!!!
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.
with the revised rules and price caps, and also with all 33,000 coming to market at a rate of 1 per hh (none being held back)
i would say initial secondary market will react upwards, but quickly plateau, i now wonder if the large secondary dealers will be organizing a "buyer's list" somewhat like the type that existed for the 2009 Plat Prfs.
<< <i>keep waiting for my email from APMEX to let me know what they are doing with the one I ordered as part of their first 1000 >>
As am I. I expect one of my two sets to be cancelled, but I also expect to receive the other set at the new price. 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 protected myself with my credit card with an e-mail telling them I expected a correction in price according the US Mint regulations. If not, I asked to cancel my order. It never hurts to protect yourself.
As am I. I expect one of my two sets to be cancelled, but I also expect to receive the other set at the new price.
TD
Ampex never did send me an alert when they went onsale the first time. I didn't pursue it, but I'm guessing that they purged their individual coin sales list and put up the 5-coin offering instead. I had to put my name on their list again. I'll still probably buy one set if I can get in, but................
I think that the odds of these being a slam-bang investment are not very good. After the dust settles, there will still be a total of at least 27,000 potential sets floating around. In spite of the new rules, these are still fully-front end loaded in terms of cost. There will be a reasonably impressive spike in price, no doubt, but there isn't as much opportunity when everybody wants one when they are first issued.
The better deals are the ones that languish on the shelf until they are no longer available. There isn't anything like that this year, maybe a Spouse at some point. Just my opinion.
Q: Are You Printing Money? Bernanke: Not Literally
Yeh, who knows? Without all of the hype and price pumping provided by the distributors and dealers who made the initial deals with the distributors... these may turn out to be nothing that special at all. (oh yeah... can't forget the ebay pre sellers pumping up the prices also!)
<< <i>oh yeah... can't forget the ebay pre sellers pumping up the prices also!) >>
Yes, they did sell for substantial amounts, but most of those "pumped up" prices were achieved through regular auctions and not BIN's. Therefore, the "market" pumped up the prices.
"Bongo drive 1984 Lincoln that looks like old coin dug from ground."
<< <i>As am I. I expect one of my two sets to be cancelled, but I also expect to receive the other set at the new price.
TD
Ampex never did send me an alert when they went onsale the first time. I didn't pursue it, but I'm guessing that they purged their individual coin sales list and put up the 5-coin offering instead. I had to put my name on their list again. I'll still probably buy one set if I can get in, but................
I think that the odds of these being a slam-bang investment are not very good. After the dust settles, there will still be a total of at least 27,000 potential sets floating around. In spite of the new rules, these are still fully-front end loaded in terms of cost. There will be a reasonably impressive spike in price, no doubt, but there isn't as much opportunity when everybody wants one when they are first issued.
The better deals are the ones that languish on the shelf until they are no longer available. There isn't anything like that this year, maybe a Spouse at some point. Just my opinion. >>
I agree it is not a guasranteed profit. I hesitated quite a while before deciding to buy. The only reason I bought two was so that I could get them packed in an original mint tube.
I am still curious as to how the OP's are going to package the coins for retail sales.
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>oh yeah... can't forget the ebay pre sellers pumping up the prices also!) >>
Yes, they did sell for substantial amounts, but most of those "pumped up" prices were achieved through regular auctions and not BIN's. Therefore, the "market" pumped up the prices. >>
??? The "market" pumped up the prices....I don't understand that. What is the difference between auctions ending as a BIN or open bidding??? Still an end price was paid...
Last 4 BIN prices (latest sale is listed 1st)
3 sets at $2795 1 set at $2719 3 sets at $2150 15 sets at $1950
I'm not saying all these will be delivered but just that is what someone was willing to pay as a BIN....
Next week will say a lot regarding the "market" when sellers with confirmed orders put them on the Bay as auctions OR BIN's
"I am still curious as to how the OP's are going to package the coins for retail sales."
One suggestion... they will have the original tubes, although they will only have one tube per 2 complete sets. So... for anyone who purchases one of each, for a complete set, allow buyer to also purchase an original tube..... at $1, or $2 or $5 or whatever. That way Apmex or the distributor will have a package to put the coins in, and purchasers who want the 'original' packaging will be able to do so. There may not be quite enough tubes if every set buyer wants to do this.... but there will also be buyers that want just one or two coins, so not all sells will end up being a full set.
<< <i>??? The "market" pumped up the prices....I don't understand that. >>
It's just more hype! I'm sure most people who actually want to own a coin or set know all about what's happened the past week and will get one for alot less when they become available again!
Personally I would rather my 5 coins not be dropped into the depths of a tube (again). I would MUCH rather they be sent in some sort of envelope or flip...
<< <i>??? The "market" pumped up the prices....I don't understand that. >>
It's just more hype! I'm sure most people who actually want to own a coin or set know all about what's happened the past week and will get one for alot less when they become available again! >>
True....but the previous prices were determined before the rules changed......
New market next week...I still bet there will still be BIN's above or near $2000 that sell
it may be even worse now. This time when they go on sale, no one will know how many are actually made available. Since some AP's will not sell them, there may be only 9000 sets made available at first. I think those sellers will get hammered and sell out quickly. Then, even though there are still some 24000 sets to be sold..people will be afraid they won't get theirs and they'll buy from the secondary market. Lots of people out there don't really care what they pay to get what they want.
Great BST experiences: abitofthisabitofthat, silvercoinsdude, gerard, coinfame, mikescoins, wondercoin
<< <i>it may be even worse now. This time when they go on sale, no one will know how many are actually made available. Since some AP's will not sell them, there may be only 9000 sets made available at first. I think those sellers will get hammered and sell out quickly. Then, even though there are still some 24000 sets to be sold..people will be afraid they won't get theirs and they'll buy from the secondary market. Lots of people out there don't really care what they pay to get what they want. >>
could be
and we were thinking $200 for each coin was high.
we'll see what the prices works out on the market once the dust settles.
<< <i>"I am still curious as to how the OP's are going to package the coins for retail sales."
One suggestion... they will have the original tubes, although they will only have one tube per 2 complete sets. So... for anyone who purchases one of each, for a complete set, allow buyer to also purchase an original tube..... at $1, or $2 or $5 or whatever. That way Apmex or the distributor will have a package to put the coins in, and purchasers who want the 'original' packaging will be able to do so. There may not be quite enough tubes if every set buyer wants to do this.... but there will also be buyers that want just one or two coins, so not all sells will end up being a full set. >>
Not a bad idea, though the coins still have to be shaken out of the original solid-design tubes in the first place.
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> I was under the impression that the Mint will allow the AP's to charge 10% above what the Mint is charging them. >>
Included.....
28.70 x 5oz = 143.70 + 1.95 (9.75/5) = 145.65
+ 10% = 160.20 per coin
= 32.04 per oz.
My math was a tad off >>
So they'll be cheaper per ounce than the ASE. That's even better. When new bullion issues are minted to demand in the following years, they will sell without the 10% premium.
I believe the premium from the mint to the AP is 9.75 per coin, not per set. (Slightly less than 2.00 per ounce. The premium for the one ounce AE's was just raised to 2.00 per ounce)
<< <i>Not to be too obtuse, but I just called a couple of the firms listed and the likely prices they're still kicking around are multiples higher than the Mint's issue price...so what problem has been solved by holding these back, as there still seems to be a massive re-sale margin getting factored in. >>
That's because only the AP's are subject to the Mints stipulation. Secondary market sellers are not. And judging by the list that Raufus supplied, quite a few are not AP's, but second tier distributors. >>
Back after a few days....
Yes, you are correct. I messed up. I got the list that I posted on Friday from the Mint's Web site following a Google search for US Mint AP's. Upon closer examination today I see that some are retailers. Sorry. The ones that are APs did give me the info which I posted with respect to their plans for the ATB 5 ozers.
<< <i>I believe the premium from the mint to the AP is 9.75 per coin, not per set. (Slightly less than 2.00 per ounce. The premium for the one ounce AE's was just raised to 2.00 per ounce) >>
Correct.
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 believe the premium from the mint to the AP is 9.75 per coin, not per set. (Slightly less than 2.00 per ounce. The premium for the one ounce AE's was just raised to 2.00 per ounce) >>
in response to an earlier post where "AP's may make available a smaller amount of sets than the 33,000 available"----
not so-----
read the new rules.
1. Authorized Purchasers shall make available for sale to the public all 2010 America the Beautiful Silver Bullion Coins that they acquire. The intention of this condition is to ensure that all 2010 America the Beautiful Silver Bullion Coins minted and issued by the United States Mint are sold to the public.
the AP must make available ALL QUANTITIES of coins distributed to them.
no holding back, guys, all of them must be made available.
The "1 per household" limitation should keep the prices in check until all 33,000 sets are sold by the APs. It took 19hrs to sell 1,000 sets to 380 buyers/flippers at a ridiculous price. Forget the APs, the "second teir" sellers and the eBayers... it's the "end buyer" that'll determine the "market value" and this "end buyer" ought to be buying directly from the participating APs.
<< <i>Orders for the 2010 America the Beautiful Silver Bullion Coins will be confirmed via fax by 3:00pm Friday, December 10, 2010. Linky >>
This article says orders from AP's to the Mint must be received before the 10th AND the 17th....which is correct? The overall total is also wrong, we'll assume 33,000.
"Because of the limited number of available coins, the United States Mint will offer the coins on an allocation basis, divided equally among the 11 active silver bullion coin Authorized Purchasers. There are a total of 33,000 coins available for each of the five 2010 designs; therefore the United States Mint will allocate to each such Authorized Purchaser 3,000 coins of each design, for an overall total of 15,000 coins. This quantity represents all of the 2010 America the Beautiful Silver Bullion Coins that will be offered. Authorized Purchasers have until 3:00pm Friday, December 17, 2010, to place their orders. Should any of the active silver bullion coin Authorized Purchasers decline to order any or all of these coins from the United States Mint, the United States Mint will make the excess coins available, on a comparable allocation basis, to those active silver bullion coin Authorized Purchasers that accept the terms and conditions herein, on Monday, December 20, 2010.
Orders for the 2010 America the Beautiful Silver Bullion Coins will be confirmed via fax by 3:00pm Friday, December 10, 2010. "
The 17th would make sense based on the 20th redistribution of un-ordered coins.
I think it means the AP's who ordered the pucks will have those orders confirmed on the 10th. The other AP's have until the 17th to order coins otherwise, on the 20th, the remaining coins will be distributed to the AP's who did place orders.
Edited to add: ..and if the AP's price these at "spot plus" the price of the set just went up $24 with silver up 88 cents to start the day
<< <i>I think it means the AP's who ordered the pucks will have those orders confirmed on the 10th. The other AP's have until the 17th to order coins otherwise, on the 20th, the remaining coins will be distributed to the AP's who did place orders.
Edited to add: ..and if the AP's price these at "spot plus" the price of the set just went up $24 with silver up 88 cents to start the day >>
2. Authorized Purchasers may charge to their customers a price no higher than ten percent above the price at which the Authorized Purchasers acquire 2010 America the Beautiful Silver Bullion Coins from the United States Mint.
It appears any move up in the spot price will reduce the premium paid by the customer and not benefit the AP. These could be under spot if silver takes off...
<< <i>I think it means the AP's who ordered the pucks will have those orders confirmed on the 10th. The other AP's have until the 17th to order coins otherwise, on the 20th, the remaining coins will be distributed to the AP's who did place orders.
Edited to add: ..and if the AP's price these at "spot plus" the price of the set just went up $24 with silver up 88 cents to start the day >>
Sure hope APMEX locked in on Friday, so I get a bigger refund...... 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.
Just looking at the pictures of the pucks in Coin World, and confirmed that the edges are NOT reeded....just plain with incused lettering. THis should cut down on the bag marks as they are repackaged. 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.
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.
Comments
<< <i>I had the same problem with their web site. >>
Got through fine here:
edited to add: never mind....that's the Canadian place
"Sent: Saturday, December 11, 2010 5:13 PM
Subject: RE: question
Thanks for writing. Not offering these for sale.
Regards
Larry Almeida
Sent: Saturday, December 11, 2010 4:05 PM
To: Larry Almeida
Subject: question
Hello, I am a member of PCGS forum and the message board indicated you may/will be selling the 5 once America the beautiful coins. If this is correct would you let me know and how I can get in touch with you and purchase a set.
Thank You, "
<< <i>It's 3 am eastern time. I'm ready to order my America The Beautiful silver 5 oz. bullion coins. Where are they? >>
Oops.....I guess you missed it...
They all sold out yesterday....
but..
I can let you have a set fro $2749 (free shipping)
Had fallen to page THREE last night!!!!!
guess we just got to wait
i would say initial secondary market will react upwards, but quickly plateau, i now wonder if the large secondary dealers will be organizing a "buyer's list" somewhat like the type that existed for the 2009 Plat Prfs.
<< <i>keep waiting for my email from APMEX to let me know what they are doing with the one I ordered as part of their first 1000 >>
As am I. I expect one of my two sets to be cancelled, but I also expect to receive the other set at the new price.
TD
TD
Ampex never did send me an alert when they went onsale the first time. I didn't pursue it, but I'm guessing that they purged their individual coin sales list and put up the 5-coin offering instead. I had to put my name on their list again. I'll still probably buy one set if I can get in, but................
I think that the odds of these being a slam-bang investment are not very good. After the dust settles, there will still be a total of at least 27,000 potential sets floating around. In spite of the new rules, these are still fully-front end loaded in terms of cost. There will be a reasonably impressive spike in price, no doubt, but there isn't as much opportunity when everybody wants one when they are first issued.
The better deals are the ones that languish on the shelf until they are no longer available. There isn't anything like that this year, maybe a Spouse at some point. Just my opinion.
I knew it would happen.
<< <i>oh yeah... can't forget the ebay pre sellers pumping up the prices also!) >>
Yes, they did sell for substantial amounts, but most of those "pumped up" prices were achieved through regular auctions and not BIN's. Therefore, the "market" pumped up the prices.
<< <i>As am I. I expect one of my two sets to be cancelled, but I also expect to receive the other set at the new price.
TD
Ampex never did send me an alert when they went onsale the first time. I didn't pursue it, but I'm guessing that they purged their individual coin sales list and put up the 5-coin offering instead. I had to put my name on their list again. I'll still probably buy one set if I can get in, but................
I think that the odds of these being a slam-bang investment are not very good. After the dust settles, there will still be a total of at least 27,000 potential sets floating around. In spite of the new rules, these are still fully-front end loaded in terms of cost. There will be a reasonably impressive spike in price, no doubt, but there isn't as much opportunity when everybody wants one when they are first issued.
The better deals are the ones that languish on the shelf until they are no longer available. There isn't anything like that this year, maybe a Spouse at some point. Just my opinion. >>
I agree it is not a guasranteed profit. I hesitated quite a while before deciding to buy. The only reason I bought two was so that I could get them packed in an original mint tube.
I am still curious as to how the OP's are going to package the coins for retail sales.
TD
<< <i>
<< <i>oh yeah... can't forget the ebay pre sellers pumping up the prices also!) >>
Yes, they did sell for substantial amounts, but most of those "pumped up" prices were achieved through regular auctions and not BIN's. Therefore, the "market" pumped up the prices. >>
??? The "market" pumped up the prices....I don't understand that. What is the difference between auctions ending as a BIN or open bidding??? Still an end price was paid...
Last 4 BIN prices (latest sale is listed 1st)
3 sets at $2795
1 set at $2719
3 sets at $2150
15 sets at $1950
I'm not saying all these will be delivered but just that is what someone was willing to pay as a BIN....
Next week will say a lot regarding the "market" when sellers with confirmed orders put them on the Bay as auctions OR BIN's
One suggestion... they will have the original tubes, although they will only have one tube per 2 complete sets. So... for anyone who purchases one of each, for a complete set, allow buyer to also purchase an original tube..... at $1, or $2 or $5 or whatever. That way Apmex or the distributor will have a package to put the coins in, and purchasers who want the 'original' packaging will be able to do so. There may not be quite enough tubes if every set buyer wants to do this.... but there will also be buyers that want just one or two coins, so not all sells will end up being a full set.
<< <i>??? The "market" pumped up the prices....I don't understand that. >>
It's just more hype! I'm sure most people who actually want to own a coin or set know all about what's happened the past week and will get one for alot less when they become available again!
<< <i>
<< <i>??? The "market" pumped up the prices....I don't understand that. >>
It's just more hype! I'm sure most people who actually want to own a coin or set know all about what's happened the past week and will get one for alot less when they become available again! >>
True....but the previous prices were determined before the rules changed......
New market next week...I still bet there will still be BIN's above or near $2000 that sell
<< <i>it may be even worse now. This time when they go on sale, no one will know how many are actually made available. Since some AP's will not sell them, there may be only 9000 sets made available at first. I think those sellers will get hammered and sell out quickly. Then, even though there are still some 24000 sets to be sold..people will be afraid they won't get theirs and they'll buy from the secondary market. Lots of people out there don't really care what they pay to get what they want. >>
could be
and we were thinking $200 for each coin was high.
we'll see what the prices works out on the market once the dust settles.
<< <i>"I am still curious as to how the OP's are going to package the coins for retail sales."
One suggestion... they will have the original tubes, although they will only have one tube per 2 complete sets. So... for anyone who purchases one of each, for a complete set, allow buyer to also purchase an original tube..... at $1, or $2 or $5 or whatever. That way Apmex or the distributor will have a package to put the coins in, and purchasers who want the 'original' packaging will be able to do so. There may not be quite enough tubes if every set buyer wants to do this.... but there will also be buyers that want just one or two coins, so not all sells will end up being a full set. >>
Not a bad idea, though the coins still have to be shaken out of the original solid-design tubes in the first place.
TD
APMEX cost of puck (assumed) : $33.71 oz. ($168.57/puck)
Less than $1.50 premium/oz for a limited edition, well publicized, puck that will, most likely, be the key of the series
I think it's worth the risk.....
But that's just me....
<< <i>APMEX cost of ASE in quantities of 20: $32.29 oz.
APMEX cost of puck (assumed) : $33.71 oz. ($168.57/puck)
Less than $1.50 premium/oz for a limited edition, well publicized, puck that will, most likely, be the key of the series
I think it's worth the risk.....
But that's just me....
I was under the impression that the Mint will allow the AP's to charge 10% above what the Mint is charging them.
<< <i> I was under the impression that the Mint will allow the AP's to charge 10% above what the Mint is charging them. >>
Included.....
28.70 x 5oz = 143.70 + 1.95 (9.75/5) = 145.65
+ 10% = 160.20 per coin
= 32.04 per oz.
My math was a tad off
<< <i>
<< <i> I was under the impression that the Mint will allow the AP's to charge 10% above what the Mint is charging them. >>
Included.....
28.70 x 5oz = 143.70 + 1.95 (9.75/5) = 145.65
+ 10% = 160.20 per coin
= 32.04 per oz.
My math was a tad off >>
So they'll be cheaper per ounce than the ASE. That's even better. When new bullion issues are minted to demand in the following years, they will sell without the 10% premium.
<< <i>
<< <i>Not to be too obtuse, but I just called a couple of the firms listed and the likely prices they're still kicking around are multiples higher than the Mint's issue price...so what problem has been solved by holding these back, as there still seems to be a massive re-sale margin getting factored in. >>
That's because only the AP's are subject to the Mints stipulation. Secondary market sellers are not. And judging by the list that Raufus supplied, quite a few are not AP's, but second tier distributors. >>
Back after a few days....
Yes, you are correct. I messed up. I got the list that I posted on Friday from the Mint's Web site following a Google search for US Mint AP's. Upon closer examination today I see that some are retailers. Sorry. The ones that are APs did give me the info which I posted with respect to their plans for the ATB 5 ozers.
<< <i>I believe the premium from the mint to the AP is 9.75 per coin, not per set. (Slightly less than 2.00 per ounce. The premium for the one ounce AE's was just raised to 2.00 per ounce) >>
Correct.
<< <i>
<< <i>I believe the premium from the mint to the AP is 9.75 per coin, not per set. (Slightly less than 2.00 per ounce. The premium for the one ounce AE's was just raised to 2.00 per ounce) >>
Correct. >>
Oops.....now $33.75/oz
not so-----
read the new rules.
1. Authorized Purchasers shall make available for sale to the public all 2010 America the Beautiful Silver Bullion Coins that they acquire. The intention of this condition is to ensure that all 2010 America the Beautiful Silver Bullion Coins minted and issued by the United States Mint are sold to the public.
the AP must make available ALL QUANTITIES of coins distributed to them.
no holding back, guys, all of them must be made available.
if some dont, on Dec 20 the others get their (orig AP) allotment.
<< <i>Orders for the 2010 America the Beautiful Silver Bullion Coins will be confirmed via fax by 3:00pm Friday, December 10, 2010. Linky >>
This article says orders from AP's to the Mint must be received before the 10th AND the 17th....which is correct? The overall total is also wrong, we'll assume 33,000.
"Because of the limited number of available coins, the United States Mint will offer the coins on an allocation basis, divided equally among the 11 active silver bullion coin Authorized Purchasers. There are a total of 33,000 coins available for each of the five 2010 designs; therefore the United States Mint will allocate to each such Authorized Purchaser 3,000 coins of each design, for an overall total of 15,000 coins. This quantity represents all of the 2010 America the Beautiful Silver Bullion Coins that will be offered. Authorized Purchasers have until 3:00pm Friday, December 17, 2010, to place their orders. Should any of the active silver bullion coin Authorized Purchasers decline to order any or all of these coins from the United States Mint, the United States Mint will make the excess coins available, on a comparable allocation basis, to those active silver bullion coin Authorized Purchasers that accept the terms and conditions herein, on Monday, December 20, 2010.
Orders for the 2010 America the Beautiful Silver Bullion Coins will be confirmed via fax by 3:00pm Friday, December 10, 2010. "
The 17th would make sense based on the 20th redistribution of un-ordered coins.
Edited to add: ..and if the AP's price these at "spot plus" the price of the set just went up $24 with silver up 88 cents to start the day
<< <i>I think it means the AP's who ordered the pucks will have those orders confirmed on the 10th. The other AP's have until the 17th to order coins otherwise, on the 20th, the remaining coins will be distributed to the AP's who did place orders.
Edited to add: ..and if the AP's price these at "spot plus" the price of the set just went up $24 with silver up 88 cents to start the day >>
2. Authorized Purchasers may charge to their customers a price no higher than ten percent above the price at which the Authorized Purchasers acquire 2010 America the Beautiful Silver Bullion Coins from the United States Mint.
It appears any move up in the spot price will reduce the premium paid by the customer and not benefit the AP. These could be under spot if silver takes off...
ASE's are purchased at "spot plus" by the AP's and sold with surcharge to the dealers
Prices then are adjusted according to the spot bullion price
Strange that these would be sold at a fixed price separated from the bullion spot price...after all...they ae intended to be bullion products
But that IS the way the guidelines are written
Edited to add:
<< <i>I think it means the AP's who ordered the pucks will have those orders confirmed on the 10th. The other AP's have until the 17th to order coins otherwise, on the 20th, the remaining coins will be distributed to the AP's who did place orders.
Edited to add: ..and if the AP's price these at "spot plus" the price of the set just went up $24 with silver up 88 cents to start the day >>
Sure hope APMEX locked in on Friday, so I get a bigger refund......
TD
<< <i>
Thanks!
<< <i>We should have had a contest to see who could predict the first announced puck-for-sale time
Or the first pictures to be posted (confirms ultimately that they have been shipped).
TD