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Mint to expand bulk purchase program
HATTRICK
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Got email about this today
https://www.usmint.gov/news/press-releases/united-states-mint-expands-circulating-bulk-purchase-program
" If you push something hard enough, it will fall over. " The 1st Law of Opposition from The Firesign Theater
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The Circulating Bulk Purchase Program provides purchasers with an additional avenue to obtain circulating coinage directly from the Mint and supports the broader goal of ensuring coins reach businesses, collectors, institutions, and the public.
I got 9...
Awaiting my invitation to ABPP program.
Those processing fees are nuts.
The discounts don't really make it worth it unless you're big enough for ABPP.
The Mint really doesn't love their big buyers that much, despite the envy you see here sometimes.
All comments reflect the opinion of the author, even when irrefutably accurate.
everyone realizes this is to purchase bulk bags of circulating coins?
Not to worry. I'm sure applying isn't mandatory.
Dime Coins
To purchase dime coins through the Circulating Bulk Purchase Program, customers (individuals or businesses) must:
purchase the minimum of one bulk bag, which contains 500,000 coins
pay for the coins at face value ($50,000) plus a processing fee, which equals 10% percent of total order value ($5,000 per bag)
Note: that's 2,500 pounds of dimes
If I still wanted to work, I would go in with my neighbor -- he wants to buy a small regional bank with about a dozen branches; he's got a 4 bank outfit in town already.
But I would be like an anchor on the earnings, except this year, ordering loads of coins and reselling on EBay.
You will need a forklift to move that!
Who would buy these ? Cost and logistics to high and complicated to roll and sell on Ebay or to juist put in circulation.
if a business, i would think setting up a business account at a coin service and buying in smaller quantities would be easier
But possibly more expensive. This is the issue with banks and CRH. That's why they don't order them for people. It costs them far more than face value.
All comments reflect the opinion of the author, even when irrefutably accurate.
It would be a great way to search for major errors, but that 10% fee probably makes that angle impractical.
That's the start of your problems. How do you get it in your house? Lol. And your going to spend weeks at the CoinStar.
Would have been profitable for the SemiQ issues. In a normal year...
All comments reflect the opinion of the author, even when irrefutably accurate.
"Select issues" has me a bit concerned in that they could easily use this as a dump avenue for coins such as the July 4th quarter. That I would fully expect as incentive for buyers to get these obscene offers and quantities...
Well, just Love coins, period.
Interesting side note:
These coins apparently are (speaking practically) all classified as circulating. If this catches on, (say with Loomis), the dollar coin is back.
o Emerging Liberty Dimes
o Semiquincentennial Quarters
§ Mayflower Compact
§ Revolutionary War
§ Declaration of Independence
§ U.S. Constitution
§ Gettysburg Address
o Enduring Liberty Half Dollars
o President Donald J. Trump $1 Coins
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Now that you've posted it I can share my observation that the dollar coin that dare not speak its name is on the list. That means it will be a circulating coin struck in yuge quantities. I'm sure it will also be sold by the Mint in rolls and bags.