US Mint no longer provides a list of "authorized bullion purchasers."
derryb
Posts: 36,823 ✭✭✭✭✭
Who are the US Mint's authorized purchasers?
"Thank you for your recent inquiry to the United States Mint concerning bullion dealers. Please accept our apologies, but we do not maintain a list of authorized dealers for bullion products. (my emphasis added) We do have a webpage which will assist you with finding a dealer in your area . . ."
There was a time when the US mint published a list of its authorized purchasers. They no longer want us to know who they are selling bulk bullion coins to? Wonder what the reason is?
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
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You are assuming that the responder gave you the correct information.
Clearly it's a conspiracy.
"They" are out to get "us"
Liberty: Parent of Science & Industry
The flashing lights over Baleyville should not be ignored.
No conspiracy, but often lower level employees unknowingly give out the wrong answer.
Note that in 2010 the US Mint did provide a list of the AP's. Now they don't. No conspiracy, just fact. Just wondering why they will no longer tell us who has met their requirements and is buying their bullion in bulk.
Per the Federal Reserve Act, section 14, Open Market Operations:
"2. Powers
Every Federal reserve bank shall have power:
Dealings in, and loans on, gold
(a) To deal in gold coin and bullion at home or abroad, to make loans thereon, exchange Federal reserve notes for gold, gold coin, or gold certificates, and to contract for loans of gold coin or bullion, giving therefor, when necessary, acceptable security, including the hypothecation of United States bonds or other securities which Federal reserve banks are authorized to hold."
Is the FED stockpiling ASEs and AGEs? LOL
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
That does seem strange, unless they are cutting clerical staff in an effort to downsize...Which, in itself, could be a commendable effort. Cheers, RickO
did the responder under stand the question?
authorized dealer <> authorized purchaser
this can be FOIA.
Kinda like the USPS at times.
Submitted a request earlier to the Treasury Dept."
"The US Mint has established strict requirements to become one of their "authorized bullion purchasers" and until recent years provided the public with a list of who these APs are. Under the Freedom of Information Act I hereby request a current list of all approved (authorized) purchasers of the US Mint's bullion products that are not normally sold directly to the public by the US Mint."
Expecting a call from an IRS auditor at any moment. LOL
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
You always have to wonder about that. Maybe it didn't get asked right or understood right.
You got that right Bajj.
Did the Mint reduce its premium for 1 ounce AGEs from 3% to 2%? It looks like the daily PCGS rare coin price guide cites a price for 1 ounce AGEs that is about 2% over.
Hmm, are you asking an Authorized Purchaser who is here?... let's see if the Phantom answers... if not then there are no more AP's at all...
I think I went through the right route -- Treasury FOIA web page, not through the Mint public information office -- and provided those I sent the inquiry with the right departmental contact info.
I did receive a letter today with a list dated 4/20/2017:
Thanks for your research...another rumor apparently debunked.
The "debunked" rumor remains true - The US mint will no longer disclose a list of it's authorized purchasers.
And, according to what Treasury tells us, speculation that FED is buying US Mint bullion is unfounded. However, if you were the FED and you wanted to anonymously buy bullion eagles directly from the mint, how hard would it be to keep it private?
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
I have yet to receive a reply from Treasury on my similar request made on 4/19.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
According to another thread and anecdotal evidence, no one is buying eagles.
Knowledge is the enemy of fear
MsM has them on speeddial. They like him
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
Well, the Fed... is no one... since "they" are anonymously buying up all the us mint gold and silver bullion, that no one else is buying...
Then how is that anonymous? Lol
How do these crazy rumors start?
Knowledge is the enemy of fear
nah.
I think I submitted mine in early april.
the mint is under the treasury and the gold reserves we have may physically be in some fed vaults, but the fed only has paper pledges from the treasury. the treasury still owns the gold but pledged it as collateral for a scant few of the fed reserve notes out and about. (the rest are collateralized with treasury debt
)
the mint has 7 months to sell any excess inventory. plus, back during first puck issue days, an authorized purchaser complained to me that the mint forces them, in January, to take some of the previous year issues when they order the new year's issues. isn't that great?
my post mark was 5/4 - 2 weeks just to mail from printing
People talking their losing book have to try to make it all back...
Oh, anonymous is only known to the inside book talkers...
that's why they hint or name who "anonymous" is and then the "conspiracy" that goes with it or the "story" as to why the market will explode "some day soon, or within hours, possibly seconds", anything to give themselves delusionary relief while buried underneath the pile of illusionary theories that has them grasping for any way out ... or to just act normal and make believe it's not really happening because every day more rhetoric can be found to justify their positions in word and in deed...
so you aren't a worst case scenario player I take it
I read places like kitco and wish they'd have much more from the other side of the picture. much more.