MINT Says.. ATb Bullion can be sold beyond mintage year!
carew4me
Posts: 3,470 ✭✭✭✭
Chickasaw be damned ...they are going to keep selling until they moved full inventory.
Per US MINT Blog
"Based on a reading of the authorizing legislation, it had previously seemed that the bullion versions could only be sold to authorized purchasers during the year of release for the corresponding quarter dollar. Refer to this article on Coin Update News which explains the US Mint’s interpretation of the law. Essentially, the Mint’s broad interpretation will allow them to sell their remaining stockpile of 2011-dated bullion versions for many years into the future.
The sales limitation did not come into play for the 2010-dated bullion coins, since the entire 165,000 coins produced were sold by December 23, 2010. For the 2011-dated bullion coins, the US Mint may have produced up to 633,500, but only managed to sell 397,700 by the close of the year. Sales of the remaining inventory it seems may continue for many years to come."
Per US MINT Blog
"Based on a reading of the authorizing legislation, it had previously seemed that the bullion versions could only be sold to authorized purchasers during the year of release for the corresponding quarter dollar. Refer to this article on Coin Update News which explains the US Mint’s interpretation of the law. Essentially, the Mint’s broad interpretation will allow them to sell their remaining stockpile of 2011-dated bullion versions for many years into the future.
The sales limitation did not come into play for the 2010-dated bullion coins, since the entire 165,000 coins produced were sold by December 23, 2010. For the 2011-dated bullion coins, the US Mint may have produced up to 633,500, but only managed to sell 397,700 by the close of the year. Sales of the remaining inventory it seems may continue for many years to come."
Loves me some shiny!
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Comments
I knew it would happen.
Box of 20
<< <i>Next, they may force the APs to buy those issues that did not sell last year if they want this year's issue. Will put the final nail in the coffin of the series. Even when they will limit this year's issues to 45K. >>
Yup...just like they do with the unsold ASE's.... Another clusterfork, in addition to all the previous ones, regarding this series. May they rest in peace.
Time to post a BST ad.....
Of course, once that happens the newer issues may take on a life of their own, especially if mintages keep dropping off. It ain't over until it's over - from a collecting point of view, that is.
I knew it would happen.
Coinfame,Kaelasdad,Type2,UNLVino,MICHAELDIXON
Justacommeman,tydye,78saen,123cents,blue62vette,Segoja,Nibanny
<< <i>That is not good.
Agreed... In the coinworld write-up they basically said that while it seems the mint can technically sell them into the next year, that clearly they're not following the original authorization as intended. Demand for the bullion coins was already in serious decline and with this news I think it's safe to say demand may free fall at this point. While I did buy multiple Chickasaw coins at the end of last year (since it was clear were were going to have a new bullion "key"), I'm glad I didn't buy a tube like I had intended to :.
Box of 20