@fathom said:
You can crystallize it down to this:
The Mint needs and wants bulksellers to help distribute and retail bullion related issues much of it mass produced. It's simply more economically efficient.
As such retailers are partners in a sense. Mint cannot deny these bulksellers access in some fashion to the limited edition profitable, highly valued merch. That keeps them interested in maintaining the relationship and helping to continue to retail Mint product.
It's not an individual person decision it's just good business.
Ehh. Of course retailers are partners. And they make their money by submitting things in bulk to TPGs, getting access to pricing and slabs retail does not, and can therefore sell Mint product at a significant markup while eliminating grading risk and costs for retail buyers.
The Mint simply does not have to give them preferential guaranteed access to hard to get hot items in order to keep them interested. They really should not have access to anything until HHLs are lifted, because retail should come first. Because, without retail, there is nothing.
And "more economically efficient" distribution isn't really part of the equation when you are selling ounces of silver for over 2x spot, and gold for $900 premiums. That's a justification, not a reason. If this is really a concern, the Mint can just get out of the retail business altogether. At which point, many of us will lose interest, and that will be that.
Most large manufacturers, of anything, do not sell direct to the public. OTOH, the Mint is not General Motors or Frito-Lay. It is a federal government agency. Either they are supposed to serve the public or not.
At the end of the day, circulating coinage does not have to pass through Approved Bulk Dealers to be marked up on their way to banks. Neither do hot new issues. Maybe if there was a requirement for the dealers to sell at Mint issue pricing, but we all know that will never happen.
As a result, sorry, but I'm not buying the need or the utility in siphoning hot new issues subject to a HHL away from the public and to large dealers. It's all about lining their pockets at the expense of the public. Not about distribution efficiency.
@fathom said:
You can crystallize it down to this:
The Mint needs and wants bulksellers to help distribute and retail bullion related issues much of it mass produced. It's simply more economically efficient.
As such retailers are partners in a sense. Mint cannot deny these bulksellers access in some fashion to the limited edition profitable, highly valued merch. That keeps them interested in maintaining the relationship and helping to continue to retail Mint product.
It's not an individual person decision it's just good business.
Bingo, and I didn't need a 500 word dissertation to agree with you.
Mint-Bashers will always seek out a negative, no matter how trivial or untrue the said negative's are.
@fathom said:
You can crystallize it down to this:
The Mint needs and wants bulksellers to help distribute and retail bullion related issues much of it mass produced. It's simply more economically efficient.
As such retailers are partners in a sense. Mint cannot deny these bulksellers access in some fashion to the limited edition profitable, highly valued merch. That keeps them interested in maintaining the relationship and helping to continue to retail Mint product.
It's not an individual person decision it's just good business.
Bingo, and I didn't need a 500 word dissertation to agree with you.
Mint-Bashers will always seek out a negative, no matter how trivial or untrue the said negative's are.
Totally agree. The Mint does a lot of things that are...er...less than ideal. But the bashing of the bulksellers is really rooted in retail ignorance. The discounts they get are ludicrously small compared to normal retail. And the bulksellers who aren't in the ABPP (these are the biggest of the big) have to wait in line behind retail buyers until the HHL is lifted.
I keep hearing about all the special treatment of these bulk sellers. Yet, a lot of forum members SELL to Pinehurst. And if Pinehurst was really so special to the Mint, they wouldn't have to go out and pay ABOVE issue price to get what they need.
Some of the people who complain just want a coin for their collection and are frustrated when it's difficult. But a LOT of the complaining is coming from people who want to flip the coins for profit OR put it in their collection and have it worth more than they paid for it. I have zero sympathy for anyone who wants a "rare" coin but then also complains about pricing or accessibility.
All comments reflect the opinion of the author, even when irrefutably accurate.
Comments
Ehh. Of course retailers are partners. And they make their money by submitting things in bulk to TPGs, getting access to pricing and slabs retail does not, and can therefore sell Mint product at a significant markup while eliminating grading risk and costs for retail buyers.
The Mint simply does not have to give them preferential guaranteed access to hard to get hot items in order to keep them interested. They really should not have access to anything until HHLs are lifted, because retail should come first. Because, without retail, there is nothing.
And "more economically efficient" distribution isn't really part of the equation when you are selling ounces of silver for over 2x spot, and gold for $900 premiums. That's a justification, not a reason. If this is really a concern, the Mint can just get out of the retail business altogether. At which point, many of us will lose interest, and that will be that.
Most large manufacturers, of anything, do not sell direct to the public. OTOH, the Mint is not General Motors or Frito-Lay. It is a federal government agency. Either they are supposed to serve the public or not.
At the end of the day, circulating coinage does not have to pass through Approved Bulk Dealers to be marked up on their way to banks. Neither do hot new issues. Maybe if there was a requirement for the dealers to sell at Mint issue pricing, but we all know that will never happen.
As a result, sorry, but I'm not buying the need or the utility in siphoning hot new issues subject to a HHL away from the public and to large dealers. It's all about lining their pockets at the expense of the public. Not about distribution efficiency.
Bingo, and I didn't need a 500 word dissertation to agree with you.
Mint-Bashers will always seek out a negative, no matter how trivial or untrue the said negative's are.
Totally agree. The Mint does a lot of things that are...er...less than ideal. But the bashing of the bulksellers is really rooted in retail ignorance. The discounts they get are ludicrously small compared to normal retail. And the bulksellers who aren't in the ABPP (these are the biggest of the big) have to wait in line behind retail buyers until the HHL is lifted.
I keep hearing about all the special treatment of these bulk sellers. Yet, a lot of forum members SELL to Pinehurst. And if Pinehurst was really so special to the Mint, they wouldn't have to go out and pay ABOVE issue price to get what they need.
Some of the people who complain just want a coin for their collection and are frustrated when it's difficult. But a LOT of the complaining is coming from people who want to flip the coins for profit OR put it in their collection and have it worth more than they paid for it. I have zero sympathy for anyone who wants a "rare" coin but then also complains about pricing or accessibility.
All comments reflect the opinion of the author, even when irrefutably accurate.