2011 SAE proof repricing?

bsshog40

So I know that silver took a pretty good smashing lately. I know I paid $60 a piece for my 2 proofs that I had on subscription. If they lower the price, think they'll go back and refund anyone that paid the high prices? I would think it fair seeings how, if they are able to lower the price, that the only reason it was raised in the first place was because silver was high. Kind of funny also that the mint bases thier prices on the metal market and not thier actual costs. This is presuming they lower the cost of these.

MsMorrisine

they hedge silver.

they have an internal overall profit margin goal.


overall, they will be making money this year, as with the other years.

ricko

They will not refund the money. Cheers, RickO

OPA

<< <i>So I know that silver took a pretty good smashing lately. I know I paid $60 a piece for my 2 proofs that I had on subscription. If they lower the price, think they'll go back and refund anyone that paid the high prices? I would think it fair seeings how, if they are able to lower the price, that the only reason it was raised in the first place was because silver was high. Kind of funny also that the mint bases thier prices on the metal market and not thier actual costs. This is presuming they lower the cost of these. >>



Why should they. They don't ask you to mail in the difference of what you paid and the new price when an item is repriced higher.

TheRaven

I don't exactly understand all these returns if the price drops.....

They aren't going to drop it below the initial price I would think.....

bsshog40

<< <i>I don't exactly understand all these returns if the price drops.....

They aren't going to drop it below the initial price I would think..... >>


OK, the initial price was $59.95 when silver was above $40oz. Now silver has dropped to $30 and they are restructuring the price. I don't think they're going to raise the price. I lack some knowledge with the US Mint, but I always thought they were government controlled, not a B&M business. I understand bullion going up and down with the metal market, but I thought that the mint coins were based on production costs?

LanLord

you pays your money,
you takes your chances.

If the price of silver had gone up to 100/oz, would you expect another bill?

coinhunters

<< <i>So I know that silver took a pretty good smashing lately. I know I paid $60 a piece for my 2 proofs that I had on subscription. If they lower the price, think they'll go back and refund anyone that paid the high prices? I would think it fair seeings how, if they are able to lower the price, that the only reason it was raised in the first place was because silver was high. Kind of funny also that the mint bases thier prices on the metal market and not thier actual costs. This is presuming they lower the cost of these. >>

I don't quite agree with your thought process. However, I will say that U.S. Mint Bullion Coin subscription holders might be better off canceling their subscriptions, and play the " Market " as the business of the Mint does .

bsshog40

<< <i>you pays your money,
you takes your chances.

If the price of silver had gone up to 100/oz, would you expect another bill? >>


Actually I was just thinking that the mint sold collector coins, such as Proofs, mint sets, etc.. at production costs. If silver is high than it costs more for silver blanks, if silver is low, then blanks are cheaper. I haven't seen the price restructure yet but if these have already been minted to thier limit using the former prices for silver, why would there be any type of restructure at all?