<< <i>here is also some new information on the distribution of the America the Beautiful Silver Bullion Coins. So far, the primary distributors have ordered only 75,000 of the total 165,000 coins available. Each of the 11 primary distributors were provided with an allocation of 3,000 coins per design, or 15,000 coins total. It looks like only five of them have placed an order with the US Mint for their allocation, and the remaining six are opting out of the program or still evaluating their options. They will have until the end of the week to place their order, or the excess coins will be reallocated to the active dealers the following week. >>
Mint might be melting a few of these after all - or lifting the 1 per HH...
APMEX, APMEX, APMEX!!!!! It's APMEX, not AMPEX!!! I can't take it any more!!! AMPEX used to make stereo speakers and cassette tapes back in the day, they never sold bullion. I don't even know if AMPEX is around anymore!
The suspense of this whole thing is driving me nuts!
<< <i><< here is also some new information on the distribution of the America the Beautiful Silver Bullion Coins. So far, the primary distributors have ordered only 75,000 of the total 165,000 coins available. Each of the 11 primary distributors were provided with an allocation of 3,000 coins per design, or 15,000 coins total. It looks like only five of them have placed an order with the US Mint for their allocation, and the remaining six are opting out of the program or still evaluating their options. They will have until the end of the week to place their order, or the excess coins will be reallocated to the active dealers the following week. >> >>
So who are the 5 APs that have ordered??? We know that Fidelitrade is one and can assume that APMEX has also ordered, but who are the other three? Dillon Gage's website says they are still evaluating, what about the rest? There has been conflicting info on some of them, like Coins N' Things and Jack Hunt and I haven't heard anything about SCB or MTB. Anybody got any updates???
<< <i>APMEX, APMEX, APMEX!!!!! It's APMEX, not AMPEX!!! I can't take it any more!!! AMPEX used to make stereo speakers and cassette tapes back in the day, they never sold bullion. I don't even know if AMPEX is around anymore!
The suspense of this whole thing is driving me nuts! >>
They are not...At least not as I knew them...I worked for them as an engineer, in Colorado Springs, right out of college in 1973.
Ampex = Alexander M. Poniatoff means excellence
Ampex made radar equipment during the 2nd World war. After the war a couple of reel to reel tape recorders were smuggled back from Nazi Germany, where they were reverse engineered by Poniatoff's engineers, and the modern recording industry was born.
Ampex designed and developed the first Video Tape Recorder somewhere around 1956 and receives an Emmy for it. The design staff consisted of 4 or 5 well respected scientists and a 19 year old wiz kid by the name of Ray Dolby, who went on to found Dolby Audio.
At the time I was there , all innovations in Pro audio and Pro video technology were developed by Ampex and were licensed to companies like Sony.
It sure is a different world now.
Positive transactions with Cladiator, Meltdown, ajbauman, LeeG, route66,DennisH,Hmann,FilamCoins,mgoodm3,terburn88,MrOrganic, weg,dcarr,guitarwes,Zubie,Barndog,wondercoin,braddick,etc...
Fidelitrade said they ordered Friday. Based on that, they should have them in hand tomorrow or Thursday.
These other jokers are silent. I dont understand what the heck they are meeting about. The revised rules were stated last week, start taking orders and abide by the rules.
<< <i>Fidelitrade said they ordered Friday. Based on that, they should have them in hand tomorrow or Thursday.
These other jokers are silent. I dont understand what the heck they are meeting about. The revised rules were stated last week, start taking orders and abide by the rules. >>
I don't think they are jokers at all, far from it. They don't want to pass up a good deal but need to figure out a way to make it work. As many others have pointed out the vast majority are not retailers. If they have until Friday to order from their point of view there is no need to make the decision sooner unless they have a definitive plan.
John
John Maben
Pegasus Coin and Jewelry (Brick and Mortar)
ANA LM, PNG, APMD, FUN, Etc
800-381-2646
<< <i>Fidelitrade said they ordered Friday. Based on that, they should have them in hand tomorrow or Thursday.
These other jokers are silent. I dont understand what the heck they are meeting about. The revised rules were stated last week, start taking orders and abide by the rules. >>
I don't think they are jokers at all, far from it. They don't want to pass up a good deal but need to figure out a way to make it work. As many others have pointed out the vast majority are not retailers. If they have until Friday to order from their point of view there is no need to make the decision sooner unless they have a definitive plan.
John >>
What is your plan?
Gold and silver are valuable but wisdom is priceless.
<< <i>Based on a conversation I had with their customer service department, I have a feeling their CEO is out this week. >>
He might be out for longer than a week if he was the person that made the decision to presell at 1400 a set. By not waiting until the sets were in hand, somone cost ampex and other APs a fortune when the mint pullled the coins and set new rules. >>
You may be right, but the delicious irony is that the $1395 figure turned out to be less than everybody else made their initial offering at. TD >>
I did not know that Captain, I was only aware of AMPEX preselling and somone I had not heard off, Monaco? coins. Or were you talking about Ebay presales? >>
The weekend before the scheduled sale to AP's on Dec. 6, APMEX was preselling sets for $1395, as reported here, and to the best of my knowledge none of the other AP's were preselling (please correct me if I am wrong).
On Monday the 6th, we contacted two different AP's that we have done substantial dollar business with, and both offered to sell us 50 sets at $1500 per set. That is the same price that one of them offered to sell a set to MsMorrissine. I know of no AP that was selling for less than $1500 on the 6th, though we only dealt directly with two.
That said, had APMEX not pre-sold 1,000 sets at $1,395, who knows what the other AP's might have offered them at on Monday morning? Nobody seemed to have a good feel for the market for these before APMEX posted their $1,395 sell, and a lot of people thought that was way too high until they saw them selling at that price AS REPORTED ON THIS THREAD!
So, in a way, you could blame all of us on this thread for the Monday morning gouging.
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>APMEX, APMEX, APMEX!!!!! It's APMEX, not AMPEX!!! I can't take it any more!!! AMPEX used to make stereo speakers and cassette tapes back in the day, they never sold bullion. I don't even know if AMPEX is around anymore!
The suspense of this whole thing is driving me nuts! >>
<< <i>Based on a conversation I had with their customer service department, I have a feeling their CEO is out this week. >>
He might be out for longer than a week if he was the person that made the decision to presell at 1400 a set. By not waiting until the sets were in hand, somone cost ampex and other APs a fortune when the mint pullled the coins and set new rules. >>
You may be right, but the delicious irony is that the $1395 figure turned out to be less than everybody else made their initial offering at. TD >>
I did not know that Captain, I was only aware of AMPEX preselling and somone I had not heard off, Monaco? coins. Or were you talking about Ebay presales? >>
The weekend before the scheduled sale to AP's on Dec. 6, APMEX was preselling sets for $1395, as reported here, and to the best of my knowledge none of the other AP's were preselling (please correct me if I am wrong).
On Monday the 6th, we contacted two different AP's that we have done substantial dollar business with, and both offered to sell us 50 sets at $1500 per set. That is the same price that one of them offered to sell a set to MsMorrissine. I know of no AP that was selling for less than $1500 on the 6th, though we only dealt directly with two.
That said, had APMEX not pre-sold 1,000 sets at $1,395, who knows what the other AP's might have offered them at on Monday morning? Nobody seemed to have a good feel for the market for these before APMEX posted their $1,395 sell, and a lot of people thought that was way too high until they saw them selling at that price AS REPORTED ON THIS THREAD!
So, in a way, you could blame all of us on this thread for the Monday morning gouging.
TD >>
All said and good, thanks to this thread they all shot themselves on the foot!!!
<< <i>Fidelitrade said they ordered Friday. Based on that, they should have them in hand tomorrow or Thursday.
These other jokers are silent. I dont understand what the heck they are meeting about. The revised rules were stated last week, start taking orders and abide by the rules. >>
I don't think they are jokers at all, far from it. They don't want to pass up a good deal but need to figure out a way to make it work. As many others have pointed out the vast majority are not retailers. If they have until Friday to order from their point of view there is no need to make the decision sooner unless they have a definitive plan.
John >>
What is your plan? >>
Since we are not an AP it's complicated. On the other hand we are a retailer that could easily handle the volume of many thousands of sets. As soon as our plan is finalized, we will make it public but it will not be until next week most likely. If we don't have product, our plan will address the secondary market at prevailing market prices. There are no simple solutions for anyone here.
Thanks, John
John Maben
Pegasus Coin and Jewelry (Brick and Mortar)
ANA LM, PNG, APMD, FUN, Etc
800-381-2646
<< <i>Fidelitrade said they ordered Friday. Based on that, they should have them in hand tomorrow or Thursday.
These other jokers are silent. I dont understand what the heck they are meeting about. The revised rules were stated last week, start taking orders and abide by the rules. >>
I don't think they are jokers at all, far from it. They don't want to pass up a good deal but need to figure out a way to make it work. As many others have pointed out the vast majority are not retailers. If they have until Friday to order from their point of view there is no need to make the decision sooner unless they have a definitive plan.
John >>
What is your plan? >>
Since we are not an AP it's complicated. On the other hand we are a retailer that could easily handle the volume of many thousands of sets. As soon as our plan is finalized, we will make it public but it will not be until next week most likely. If we don't have product, our plan will address the secondary market at prevailing market prices. There are no simple solutions for anyone here.
Thanks, John >>
It does seem the Mint left the secondary distribution network in the dark or in the cold.
Gold and silver are valuable but wisdom is priceless.
Either accept the terms which allow for a 10% markup over the AP cost and sell to the public, or decline to do so.
Not a tough decision. Any first year business major can figure it out within a few hours or so.
For the 250k profit on a 3000 set allocation, most folks could arrange for a totally manual operation and have the whole allotment sold and shipped before these jokers figure out a strategy.
<< <i>Call all the congressmen/women that co-sponsored this bill H.R. 6184, back in 2008 >>
Your chance of Congressional action after 14 Dec 10 are pretty slim with major items like taxes and the Defense budget not completed. Remember, when this Congress ends, and a new Congress takes office in January, all unpassed bills are nothing more than shredder fodder.
<< <i> So, in a way, you could blame all of us on this thread for the Monday morning gouging >>
Capt. ....."You could blame some of us," would be more appropriate. >>
Agreed. Many just observed while the rest of us were taking up our pitchforks and torches. However, I stand by my theory that the thread, in general, was partly responsible for the Monday morning pricing that led to the program being suspended. 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> So, in a way, you could blame all of us on this thread for the Monday morning gouging >>
Capt. ....."You could blame some of us," would be more appropriate. >>
Actually it was the anti free market people-power winey if I cant have one nobody can Robin Hood wannabees who opened up this can of worms------------------------------------BigE
<< <i>Agreed. Many just observed while the rest of us were taking up our pitchforks and torches. However, I stand by my theory that the thread, in general, was partly responsible for the Monday morning pricing that led to the program being suspended. >>
Some forum members were pissed because of the high price APMEX charged, then they were pissed because they missed their chance to buy once the pucks sold out at the high price within 24 hours.
<< <i>Agreed. Many just observed while the rest of us were taking up our pitchforks and torches. However, I stand by my theory that the thread, in general, was partly responsible for the Monday morning pricing that led to the program being suspended. >>
Some forum members were pissed because of the high price APMEX charged, then they were pissed because they missed their chance to buy once the pucks sold out at the high price within 24 hours. >>
How Un true certain original posters thought the price of 1395 was crazy WE Did not buy ANY sets and most of us told you so, yes some of us actually called the mint not because we missed out on buying( I was offered a set from monaco for 1100) I refused that set and the others from ampex because i did not want to pay. Now lets fast forward seems like the flippers are mad there not getting there pucks yet those of us that called and got the price set to a more reasonable one and you guys still are upset we saved you 300 to 500 bucks. You now will beable to afford more sets to flip . Thanks to all those who did not buy the set for 1395.00 and to the rest ..
<< <i>Now lets fast forward seems like the flippers are mad there not getting there pucks yet those of us that called and got the price set to a more reasonable one and you guys still are upset we saved you 300 to 500 bucks.
What a misleading statement.
According to APMEX, the average order was for slightly under 2 sets. I'm sure there were a few that ordered dozens, but most of us did not. As far as saving some money? Perhaps, but I don't have my 2 sets, and only time will tell what the final cost will be.
To quote Steinbeck "The best laid plans of Mice and Men often go awry." Only time will tell.
"Bongo drive 1984 Lincoln that looks like old coin dug from ground."
<< <i>Now lets fast forward seems like the flippers are mad there not getting there pucks yet those of us that called and got the price set to a more reasonable one and you guys still are upset we saved you 300 to 500 bucks.
What a misleading statement.
According to APMEX, the average order was for slightly under 2 sets. I'm sure there were a few that ordered dozens, but most of us did not. As far as saving some money? Perhaps, but I don't have my 2 sets, and only time will tell what the final cost will be.
To quote Steinbeck "The best laid plans of Mice and Men often go awry." Only time will tell. >>
T'was the great Robert Burns who said:
"The best-laid schemes o' mice an 'men Gang aft agley, "
Aye!
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>Now lets fast forward seems like the flippers are mad there not getting there pucks yet those of us that called and got the price set to a more reasonable one and you guys still are upset we saved you 300 to 500 bucks.
What a misleading statement.
According to APMEX, the average order was for slightly under 2 sets. I'm sure there were a few that ordered dozens, but most of us did not. As far as saving some money? Perhaps, but I don't have my 2 sets, and only time will tell what the final cost will be.
To quote Steinbeck "The best laid plans of Mice and Men often go awry." Only time will tell. >>
First how is my statement misleading, even if the new price is 1000 you save 390 bucks you bought 2 sets you now save 780. Also this was posted earlier.....The firm sold its first thousand coins in 380 transactions, which came to an average of 2.6 sets a customer, according to Mr. Thomas. Are you in that big of a hurry to get these that you are willing to pay the original price? If so i hope Ampex Honors All your orders at the price you thought was fair 1390. The rest of us will get in line for the other 31.000 sets at 900 to 1000 a set
I called APMEX today, I have a standing order with them.
I got the run around.
My concern is; will they try to keep the current orders at the $1395 price, kind of like, just send them out and say those orders were before the new rules.
Lets face it, assume a new price of $1000, leaves $395 on the table X 1000 = $395,000 that apmex would not get, that may be worth fighting for.
Obviously, if someone ordered only 1 set, then this would be bad, as I think there will be enough around to be able to order another set, either at apmex or someplace else.
If someone, even a dealer ordered lets say 10 or more and the ebay price is $2500, then keeping all 10, at even $1395, would be a good move, of course if the free market price comes down, to say $1500, then obviously getting 10 at $1395 would not be good.
So what do you all think APMEX is up to?
Here's the email they sent out:
You are receiving this notice because you have an existing order with this item in it. We ask the following:
1. Since you have placed an order with APMEX for these coins, we will honor our orders providing the US Mint makes these coins available to us. Should the mint change their method of distribution (Not selling to Authorized Purchasers) and do not provide coins to us, we will have no choice but to cancel the order and provide a full refund.
2. If you would like to cancel your order, you are welcome to reply to this email and let us know.
a. If you have selected to pay by credit card, we will be happy to credit your card back. b. If you have mailed in your check, please let us know and we will return your payment.
3. If you would like to keep your order, there is nothing you have to do. We will let you know when we have more information.
Call all the congressmen/women that co-sponsored this bill H.R. 6184, back in 2008, and tell them to amend the legislation and extend the time limits placed on the mint for sale/production/distribution of these coins.
<< <i> So, in a way, you could blame all of us on this thread for the Monday morning gouging >>
Capt. ....."You could blame some of us," would be more appropriate. >>
Actually it was the anti free market people-power winey if I cant have one nobody can Robin Hood wannabees who opened up this can of worms------------------------------------BigE >>
I think you summed it up.
"Bongo drive 1984 Lincoln that looks like old coin dug from ground."
In the event this list gets lost in this thread...
This is the current US AP list per the Mint.
A-Mark Precious Metals (Los Angeles) Gold, Silver, Platinum Coins 'N Things (Massachusetts) Gold, Silver, Platinum MTB (New York) Gold, Silver Platinum Scotia Mocatta (New York) Gold, Silver, Platinum American Precious Metals Exchange, Inc. (Oklahaoma) Silver Dillon Gage Incorporated of Dallas (Texas) Silver Prudential Securities Inc. (New York) Gold, Silver, Platinum The Gold Center (Illinois) Silver Jack Hunt Coin Broker (New York) Silver Commerzbank (New York) Gold, Silver Fidelitrade (Delaware) Silver
"Bongo drive 1984 Lincoln that looks like old coin dug from ground."
My concern is; will they try to keep the current orders at the $1395 price, kind of like, just send them out and say those orders were before the new rules.
Seems they are keeping their customers in the dark.
<< <i>I called APMEX today, I have a standing order with them.
I got the run around.
My concern is; will they try to keep the current orders at the $1395 price, kind of like, just send them out and say those orders were before the new rules.
Lets face it, assume a new price of $1000, leaves $395 on the table X 1000 = $395,000 that apmex would not get, that may be worth fighting for.
Obviously, if someone ordered only 1 set, then this would be bad, as I think there will be enough around to be able to order another set, either at apmex or someplace else.
If someone, even a dealer ordered lets say 10 or more and the ebay price is $2500, then keeping all 10, at even $1395, would be a good move, of course if the free market price comes down, to say $1500, then obviously getting 10 at $1395 would not be good.
So what do you all think APMEX is up to?
Here's the email they sent out:
You are receiving this notice because you have an existing order with this item in it. We ask the following:
1. Since you have placed an order with APMEX for these coins, we will honor our orders providing the US Mint makes these coins available to us. Should the mint change their method of distribution (Not selling to Authorized Purchasers) and do not provide coins to us, we will have no choice but to cancel the order and provide a full refund.
2. If you would like to cancel your order, you are welcome to reply to this email and let us know.
a. If you have selected to pay by credit card, we will be happy to credit your card back. b. If you have mailed in your check, please let us know and we will return your payment.
3. If you would like to keep your order, there is nothing you have to do. We will let you know when we have more information. >>
To clarify the above, that email was sent out by APMEX on Dec. 6th, the day the Mint announced that they were suspending the program, and nobody knew what was going on.
I personally have not heard any other word from APMEX since, other than a form letter stating that my payment had been received.
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.
What's going to be the conversation when the sheit really hits the fan.
The free-market is what it is. I didn't buy because I was priced out what I thought was a reasonable value. So I made a choice not to enter the fray. Sure I was disappointed, but at least I was right in my assumption that these were RED HOT! I also had a feeling that smoething wasn't right on that "Monday" morning and the full story had yet been told. And so here we are. If I can get a bullion set at a reasonable price I will. If not there's the "P" pucks (which may present a whole set of other problems.)
Dangerously close...after all, it's not too much of stretch to go from calling someone a "socialist" to calling them a "national socialist", especially if the one doing the name calling is confused or ignorant...
Comments
<< <i>here is also some new information on the distribution of the America the Beautiful Silver Bullion Coins. So far, the primary distributors have ordered only 75,000 of the total 165,000 coins available. Each of the 11 primary distributors were provided with an allocation of 3,000 coins per design, or 15,000 coins total. It looks like only five of them have placed an order with the US Mint for their allocation, and the remaining six are opting out of the program or still evaluating their options. They will have until the end of the week to place their order, or the excess coins will be reallocated to the active dealers the following week. >>
Mint might be melting a few of these after all - or lifting the 1 per HH...
The suspense of this whole thing is driving me nuts!
mbogoman
https://pcgs.com/setregistry/collectors-showcase/classic-issues-colonials-through-1964/zambezi-collection-trade-dollars/7345Asesabi Lutho
<< <i><< here is also some new information on the distribution of the America the Beautiful Silver Bullion Coins. So far, the primary distributors have ordered only 75,000 of the total 165,000 coins available. Each of the 11 primary distributors were provided with an allocation of 3,000 coins per design, or 15,000 coins total. It looks like only five of them have placed an order with the US Mint for their allocation, and the remaining six are opting out of the program or still evaluating their options. They will have until the end of the week to place their order, or the excess coins will be reallocated to the active dealers the following week. >> >>
So who are the 5 APs that have ordered??? We know that Fidelitrade is one and can assume that APMEX has also ordered, but who are the other three? Dillon Gage's website says they are still evaluating, what about the rest? There has been conflicting info on some of them, like Coins N' Things and Jack Hunt and I haven't heard anything about SCB or MTB. Anybody got any updates???
mbogoman
https://pcgs.com/setregistry/collectors-showcase/classic-issues-colonials-through-1964/zambezi-collection-trade-dollars/7345Asesabi Lutho
<< <i>APMEX, APMEX, APMEX!!!!! It's APMEX, not AMPEX!!! I can't take it any more!!! AMPEX used to make stereo speakers and cassette tapes back in the day, they never sold bullion. I don't even know if AMPEX is around anymore!
The suspense of this whole thing is driving me nuts!
Here ya go:
AM, That's AMPEX
They are not...At least not as I knew them...I worked for them as an engineer, in Colorado Springs, right out of college in 1973.
Ampex = Alexander M. Poniatoff means excellence
Ampex made radar equipment during the 2nd World war. After the war a couple of reel to reel tape recorders
were smuggled back from Nazi Germany, where they were reverse engineered by Poniatoff's engineers, and the modern recording industry was born.
Ampex designed and developed the first Video Tape Recorder somewhere around 1956 and receives an Emmy for it. The design staff consisted of
4 or 5 well respected scientists and a 19 year old wiz kid by the name of Ray Dolby, who went on to found Dolby Audio.
At the time I was there , all innovations in Pro audio and Pro video technology were developed by Ampex and were licensed to companies like Sony.
It sure is a different world now.
These other jokers are silent. I dont understand what the heck they are meeting about. The revised rules were stated last week, start taking orders and abide by the rules.
<< <i>Fidelitrade said they ordered Friday. Based on that, they should have them in hand tomorrow or Thursday.
These other jokers are silent. I dont understand what the heck they are meeting about. The revised rules were stated last week, start taking orders and abide by the rules. >>
I don't think they are jokers at all, far from it. They don't want to pass up a good deal but need to figure out a way to make it work. As many others have pointed out the vast majority are not retailers. If they have until Friday to order from their point of view there is no need to make the decision sooner unless they have a definitive plan.
John
John Maben
Pegasus Coin and Jewelry (Brick and Mortar)
ANA LM, PNG, APMD, FUN, Etc
800-381-2646
<< <i>
<< <i>Fidelitrade said they ordered Friday. Based on that, they should have them in hand tomorrow or Thursday.
These other jokers are silent. I dont understand what the heck they are meeting about. The revised rules were stated last week, start taking orders and abide by the rules. >>
I don't think they are jokers at all, far from it. They don't want to pass up a good deal but need to figure out a way to make it work. As many others have pointed out the vast majority are not retailers. If they have until Friday to order from their point of view there is no need to make the decision sooner unless they have a definitive plan.
John >>
What is your plan?
<< <i>
<< <i>
<< <i>
<< <i>Based on a conversation I had with their customer service department, I have a feeling their CEO is out this week. >>
He might be out for longer than a week if he was the person that made the decision to presell at 1400 a set. By not waiting until the sets were in hand, somone cost ampex and other APs a fortune when the mint pullled the coins and set new rules. >>
You may be right, but the delicious irony is that the $1395 figure turned out to be less than everybody else made their initial offering at.
TD >>
I did not know that Captain, I was only aware of AMPEX preselling and somone I had not heard off, Monaco? coins. Or were you talking about Ebay presales? >>
The weekend before the scheduled sale to AP's on Dec. 6, APMEX was preselling sets for $1395, as reported here, and to the best of my knowledge none of the other AP's were preselling (please correct me if I am wrong).
On Monday the 6th, we contacted two different AP's that we have done substantial dollar business with, and both offered to sell us 50 sets at $1500 per set. That is the same price that one of them offered to sell a set to MsMorrissine. I know of no AP that was selling for less than $1500 on the 6th, though we only dealt directly with two.
That said, had APMEX not pre-sold 1,000 sets at $1,395, who knows what the other AP's might have offered them at on Monday morning? Nobody seemed to have a good feel for the market for these before APMEX posted their $1,395 sell, and a lot of people thought that was way too high until they saw them selling at that price AS REPORTED ON THIS THREAD!
So, in a way, you could blame all of us on this thread for the Monday morning gouging.
TD
<< <i>
<< <i>APMEX, APMEX, APMEX!!!!! It's APMEX, not AMPEX!!! I can't take it any more!!! AMPEX used to make stereo speakers and cassette tapes back in the day, they never sold bullion. I don't even know if AMPEX is around anymore!
The suspense of this whole thing is driving me nuts!
Here ya go:
AM, That's AMPEX
You don't know how many times I've accidentally visited that site.
<< <i>
<< <i>
<< <i>
<< <i>
<< <i>Based on a conversation I had with their customer service department, I have a feeling their CEO is out this week. >>
He might be out for longer than a week if he was the person that made the decision to presell at 1400 a set. By not waiting until the sets were in hand, somone cost ampex and other APs a fortune when the mint pullled the coins and set new rules. >>
You may be right, but the delicious irony is that the $1395 figure turned out to be less than everybody else made their initial offering at.
TD >>
I did not know that Captain, I was only aware of AMPEX preselling and somone I had not heard off, Monaco? coins. Or were you talking about Ebay presales? >>
The weekend before the scheduled sale to AP's on Dec. 6, APMEX was preselling sets for $1395, as reported here, and to the best of my knowledge none of the other AP's were preselling (please correct me if I am wrong).
On Monday the 6th, we contacted two different AP's that we have done substantial dollar business with, and both offered to sell us 50 sets at $1500 per set. That is the same price that one of them offered to sell a set to MsMorrissine. I know of no AP that was selling for less than $1500 on the 6th, though we only dealt directly with two.
That said, had APMEX not pre-sold 1,000 sets at $1,395, who knows what the other AP's might have offered them at on Monday morning? Nobody seemed to have a good feel for the market for these before APMEX posted their $1,395 sell, and a lot of people thought that was way too high until they saw them selling at that price AS REPORTED ON THIS THREAD!
So, in a way, you could blame all of us on this thread for the Monday morning gouging.
TD >>
All said and good, thanks to this thread they all shot themselves on the foot!!!
<< <i> So, in a way, you could blame all of us on this thread for the Monday morning gouging >>
Capt. ....."You could blame some of us," would be more appropriate.
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<< <i>
<< <i>Fidelitrade said they ordered Friday. Based on that, they should have them in hand tomorrow or Thursday.
These other jokers are silent. I dont understand what the heck they are meeting about. The revised rules were stated last week, start taking orders and abide by the rules. >>
I don't think they are jokers at all, far from it. They don't want to pass up a good deal but need to figure out a way to make it work. As many others have pointed out the vast majority are not retailers. If they have until Friday to order from their point of view there is no need to make the decision sooner unless they have a definitive plan.
John >>
What is your plan? >>
Since we are not an AP it's complicated. On the other hand we are a retailer that could easily handle the volume of many thousands of sets. As soon as our plan is finalized, we will make it public but it will not be until next week most likely. If we don't have product, our plan will address the secondary market at prevailing market prices. There are no simple solutions for anyone here.
Thanks,
John
John Maben
Pegasus Coin and Jewelry (Brick and Mortar)
ANA LM, PNG, APMD, FUN, Etc
800-381-2646
<< <i>
<< <i>
<< <i>
<< <i>Fidelitrade said they ordered Friday. Based on that, they should have them in hand tomorrow or Thursday.
These other jokers are silent. I dont understand what the heck they are meeting about. The revised rules were stated last week, start taking orders and abide by the rules. >>
I don't think they are jokers at all, far from it. They don't want to pass up a good deal but need to figure out a way to make it work. As many others have pointed out the vast majority are not retailers. If they have until Friday to order from their point of view there is no need to make the decision sooner unless they have a definitive plan.
John >>
What is your plan? >>
Since we are not an AP it's complicated. On the other hand we are a retailer that could easily handle the volume of many thousands of sets. As soon as our plan is finalized, we will make it public but it will not be until next week most likely. If we don't have product, our plan will address the secondary market at prevailing market prices. There are no simple solutions for anyone here.
Thanks,
John >>
It does seem the Mint left the secondary distribution network in the dark or in the cold.
Either accept the terms which allow for a 10% markup over the AP cost and sell to the public, or decline to do so.
Not a tough decision. Any first year business major can figure it out within a few hours or so.
For the 250k profit on a 3000 set allocation, most folks could arrange for a totally manual operation and have the whole allotment sold and shipped before these jokers figure out a strategy.
<< <i>Call all the congressmen/women that co-sponsored this bill H.R. 6184, back in 2008 >>
Your chance of Congressional action after 14 Dec 10 are pretty slim with major items like taxes and the Defense budget not completed. Remember, when this Congress ends, and a new Congress takes office in January, all unpassed bills are nothing more than shredder fodder.
Since we are not an AP it's complicated.
Thanks,
John >>
Yepper, I bet it is complicated.
Good luck and I hope it works out for you and see you selling the ATB pucks soon.
I'll sign my Dad up on your list! Hey, it's a different HH...
It appears their best bet is to buy from the public to amass any quantities.
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<< <i> So, in a way, you could blame all of us on this thread for the Monday morning gouging >>
Capt. ....."You could blame some of us," would be more appropriate.
Agreed. Many just observed while the rest of us were taking up our pitchforks and torches. However, I stand by my theory that the thread, in general, was partly responsible for the Monday morning pricing that led to the program being suspended.
TD
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<< <i> So, in a way, you could blame all of us on this thread for the Monday morning gouging >>
Capt. ....."You could blame some of us," would be more appropriate.
Actually it was the anti free market people-power winey if I cant have one nobody can Robin Hood wannabees who opened up this can of worms
<< <i>Looks like any secondaries - are out in the cold.
It appears their best bet is to buy from the public to amass any quantities. >>
Flippers paradise.
<< <i>Agreed. Many just observed while the rest of us were taking up our pitchforks and torches. However, I stand by my theory that the thread, in general, was partly responsible for the Monday morning pricing that led to the program being suspended. >>
Some forum members were pissed because of the high price APMEX charged, then they were pissed because they missed their chance to buy once the pucks sold out at the high price within 24 hours.
<< <i>
<< <i>Agreed. Many just observed while the rest of us were taking up our pitchforks and torches. However, I stand by my theory that the thread, in general, was partly responsible for the Monday morning pricing that led to the program being suspended. >>
Some forum members were pissed because of the high price APMEX charged, then they were pissed because they missed their chance to buy once the pucks sold out at the high price within 24 hours.
How Un true certain original posters thought the price of 1395 was crazy WE Did not buy ANY sets and most of us told you so, yes some of us actually called the mint not because we missed out on buying( I was offered a set from monaco for 1100) I refused that set and the others from ampex because i did not want to pay. Now lets fast forward seems like the flippers are mad there not getting there pucks yet those of us that called and got the price set to a more reasonable one and you guys still are upset we saved you 300 to 500 bucks. You now will beable to afford more sets to flip . Thanks to all those who did not buy the set for 1395.00 and to the rest ..
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>Now lets fast forward seems like the flippers are mad there not getting there pucks yet those of us that called and got the price set to a more reasonable one and you guys still are upset we saved you 300 to 500 bucks.
What a misleading statement.
According to APMEX, the average order was for slightly under 2 sets. I'm sure there were a few that ordered dozens, but most of us did not. As far as saving some money? Perhaps, but I don't have my 2 sets, and only time will tell what the final cost will be.
To quote Steinbeck "The best laid plans of Mice and Men often go awry." Only time will tell.
<< <i>
<< <i>Now lets fast forward seems like the flippers are mad there not getting there pucks yet those of us that called and got the price set to a more reasonable one and you guys still are upset we saved you 300 to 500 bucks.
What a misleading statement.
According to APMEX, the average order was for slightly under 2 sets. I'm sure there were a few that ordered dozens, but most of us did not. As far as saving some money? Perhaps, but I don't have my 2 sets, and only time will tell what the final cost will be.
To quote Steinbeck "The best laid plans of Mice and Men often go awry." Only time will tell. >>
T'was the great Robert Burns who said:
"The best-laid schemes o' mice an 'men
Gang aft agley, "
Aye!
<< <i>
<< <i>Now lets fast forward seems like the flippers are mad there not getting there pucks yet those of us that called and got the price set to a more reasonable one and you guys still are upset we saved you 300 to 500 bucks.
What a misleading statement.
According to APMEX, the average order was for slightly under 2 sets. I'm sure there were a few that ordered dozens, but most of us did not. As far as saving some money? Perhaps, but I don't have my 2 sets, and only time will tell what the final cost will be.
To quote Steinbeck "The best laid plans of Mice and Men often go awry." Only time will tell. >>
First how is my statement misleading, even if the new price is 1000 you save 390 bucks you bought 2 sets you now save 780. Also this was posted earlier.....The firm sold its first thousand coins in 380 transactions, which came to an average of 2.6 sets a customer, according to Mr. Thomas.
Are you in that big of a hurry to get these that you are willing to pay the original price? If so i hope Ampex Honors All your orders at the price you thought was fair 1390. The rest of us will get in line for the other 31.000 sets at 900 to 1000 a set
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 got the run around.
My concern is; will they try to keep the current orders at the $1395 price, kind of like, just send them out and say those orders were before the new rules.
Lets face it, assume a new price of $1000, leaves $395 on the table X 1000 = $395,000 that apmex would not get, that may be worth fighting for.
Obviously, if someone ordered only 1 set, then this would be bad, as I think there will be enough around to be able to order another set, either at apmex or someplace else.
If someone, even a dealer ordered lets say 10 or more and the ebay price is $2500, then keeping all 10, at even $1395, would be a good move, of course if the free market price comes down, to say $1500, then obviously getting 10 at $1395 would not be good.
So what do you all think APMEX is up to?
Here's the email they sent out:
You are receiving this notice because you have an existing order with this item in it. We ask the following:
1. Since you have placed an order with APMEX for these coins, we will honor our orders providing the US Mint makes these coins available to us. Should the mint change their method of distribution (Not selling to Authorized Purchasers) and do not provide coins to us, we will have no choice but to cancel the order and provide a full refund.
2. If you would like to cancel your order, you are welcome to reply to this email and let us know.
a. If you have selected to pay by credit card, we will be happy to credit your card back.
b. If you have mailed in your check, please let us know and we will return your payment.
3. If you would like to keep your order, there is nothing you have to do. We will let you know when we have more information.
Here's the numbers of the representatives
Michael Castle; DE Phone: 202-225-4165
Charles Gonzales; TX Phone: 202-225-3236
Raul Grijalva; AZ Phone: 202-225-2435
Luis Gutierrez; IL Phone: 202-225-8203
Carolyn Maloney; NY Phone: 202-225-7944
Joe Sestak; PA Phone: 202-225-2011
Betty Sutton; OH Phone: 202-225-3401
<< <i>
<< <i>
<< <i> So, in a way, you could blame all of us on this thread for the Monday morning gouging >>
Capt. ....."You could blame some of us," would be more appropriate.
Actually it was the anti free market people-power winey if I cant have one nobody can Robin Hood wannabees who opened up this can of worms
I think you summed it up.
This is the current US AP list per the Mint.
A-Mark Precious Metals (Los Angeles) Gold, Silver, Platinum
Coins 'N Things (Massachusetts) Gold, Silver, Platinum
MTB (New York) Gold, Silver Platinum
Scotia Mocatta (New York) Gold, Silver, Platinum
American Precious Metals Exchange, Inc. (Oklahaoma) Silver
Dillon Gage Incorporated of Dallas (Texas) Silver
Prudential Securities Inc. (New York) Gold, Silver, Platinum
The Gold Center (Illinois) Silver
Jack Hunt Coin Broker (New York) Silver
Commerzbank (New York) Gold, Silver
Fidelitrade (Delaware) Silver
<< <i>you forgot to call me a socialist. >>
If you insist, so be it. If the shoe fits...wear it.
My concern is; will they try to keep the current orders at the $1395 price, kind of like, just send them out and say those orders were before the new rules.
Seems they are keeping their customers in the dark.
Box of 20
<< <i>I called APMEX today, I have a standing order with them.
I got the run around.
My concern is; will they try to keep the current orders at the $1395 price, kind of like, just send them out and say those orders were before the new rules.
Lets face it, assume a new price of $1000, leaves $395 on the table X 1000 = $395,000 that apmex would not get, that may be worth fighting for.
Obviously, if someone ordered only 1 set, then this would be bad, as I think there will be enough around to be able to order another set, either at apmex or someplace else.
If someone, even a dealer ordered lets say 10 or more and the ebay price is $2500, then keeping all 10, at even $1395, would be a good move, of course if the free market price comes down, to say $1500, then obviously getting 10 at $1395 would not be good.
So what do you all think APMEX is up to?
Here's the email they sent out:
You are receiving this notice because you have an existing order with this item in it. We ask the following:
1. Since you have placed an order with APMEX for these coins, we will honor our orders providing the US Mint makes these coins available to us. Should the mint change their method of distribution (Not selling to Authorized Purchasers) and do not provide coins to us, we will have no choice but to cancel the order and provide a full refund.
2. If you would like to cancel your order, you are welcome to reply to this email and let us know.
a. If you have selected to pay by credit card, we will be happy to credit your card back.
b. If you have mailed in your check, please let us know and we will return your payment.
3. If you would like to keep your order, there is nothing you have to do. We will let you know when we have more information. >>
To clarify the above, that email was sent out by APMEX on Dec. 6th, the day the Mint announced that they were suspending the program, and nobody knew what was going on.
I personally have not heard any other word from APMEX since, other than a form letter stating that my payment had been received.
TD
What's going to be the conversation when the sheit really hits the fan.
The free-market is what it is. I didn't buy because I was priced out what I thought was a reasonable value. So I made a choice not to enter the fray. Sure I was disappointed, but at least I was right in my assumption that these were RED HOT! I also had a feeling that smoething wasn't right on that "Monday" morning and the full story had yet been told. And so here we are. If I can get a bullion set at a reasonable price I will. If not there's the "P" pucks (which may present a whole set of other problems.)
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<< <i>you forgot to call me a socialist. >>
If you insist, so be it. If the shoe fits...wear it.
It doesn't fit.
I'm just not naive enough to think that a totally free market can take care of everything, including human greed.
I'm more of a realist.
Loves me some shiny!
<< <i>We are on the cusp of Godwin's Law... >>
Not even close & I hope it does not come to that.
Yeah, never mind what the authorizing law says or that a contract is a contract.
Ignore the basics and everything else doesn't matter, does it? Let's establish if we're gonna have laws, or not.
I knew it would happen.
<< <i>We are on the cusp of Godwin's Law... >>
Starting to look that way.
<< <i>We are on the cusp of Godwin's Law... >>
I think I could work that in already, I just haven't!
anyway, fascism = far right, communism = far left, socialism just not as far left as communism.
So, no accusations referenced in the quote are expected by me.
I'm going to call MTB tomorrow and see if they're selling or not.
<< <i>We are on the cusp of Godwin's Law... >>
Dangerously close...after all, it's not too much of stretch to go from calling someone a "socialist" to calling them a "national socialist", especially if the one doing the name calling is confused or ignorant...
mbogoman
https://pcgs.com/setregistry/collectors-showcase/classic-issues-colonials-through-1964/zambezi-collection-trade-dollars/7345Asesabi Lutho