Anyone here a US mint Authorized dealer?

Comments

• solid Posts: 2,975

  December 6, 2005 7:48AM

  I forget the exact terminology but, for the bullion products, I believe there is only something like
  5-10 national "distributors" that can buy in bulk directly from the mint. You have to go through
  some hoops in order to be one, such as minimum annual commitments, minimum net worth, and
  actively making a 2-way market in bullion. All other dealers buy from these distributors.

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• Julian Posts: 3,370 ✭✭✭

  December 6, 2005 8:12AM

  <FONT style="BACKGROUND-COLOR: #c0c0c0">They are not making any fortune on these, believe me.
  
  The requirements include having to spend over 50 million dollars annually with the US Mint.
  
  A-Mark is one. MTB, another.
  </FONT>

  PNG member, numismatic dealer since 1965. Operates a retail store, also has exhibited at over 1000 shows.
  I firmly believe in numismatics as the world's greatest hobby, but recognize that this is a luxury and without collectors, we can all spend/melt our collections/inventories.
  
  eBaystore

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• WTCG Posts: 8,940 ✭✭✭

  December 6, 2005 11:38AM

  There are only five companies in the U.S. that deal directly with the U.S. Mint. What Julian wrote is reality.

  Follow me on Twitter @wtcgroup
  Authorized dealer for PCGS, PCGS Currency, NGC, NCS, PMG, CAC. Member of the PNG, ANA. Member dealer of CoinPlex and CCE/FACTS as "CH5"

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• JSsson Posts: 891 ✭

  December 6, 2005 2:20PM

  50 million dollars a year with the mint? There probably are not many companies that can afford to spend that much per year on purchases, let alone with one customer alone.

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• rollingcoins Posts: 59

  December 7, 2005 3:47AM

  
  The requirements include having to spend over 50 million dollars annually with the US Mint.
  
  Not quite.
  
  See the US Mint Authorized Purchaser Requirements here. American Eagle Bullion Coins
  
  

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• relayer Posts: 10,570 ✭

  December 7, 2005 3:56AM

  
  
  << <i>What Julian wrote is reality. >>
  
  
  What Greg Hafner wrote is reality

  
  My posts viewed times
  since 8/1/6

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• JDelage Posts: 724 ✭✭

  December 7, 2005 6:39AM

  Thanks for the document - this is fascinating:
  
  - For the Silver Eagle, we charge the United States Mint's Authorized Purchasers the price of silver plus $1.25 per coin premium. Minimum ordering requirement is 25,000 coins.
  - For the Gold Eagles, we charge 3%, 5%, 7% and 9% premiums for the one, one-half, one-quarter and one-tenth ounce coins respectively. Minimum ordering requirements are 1000 ounces.
  - For the Platinum Eagles, we charge 4%, 6%, 10% and 15% premiums for the one, one-half, one-quarter and one-tenth ounces coins respectively. Minimum ordering requirements are 1000 ounces.
  
  Those are pretty high margin for commodities - especially for the ASE: 15% assuming an $8.5 / ounce price... The above suggests that $50 eagles are clearly the best way to buy bullion (other than bars & ingots).

  "The greatest productive force is human selfishness."
  Robert A. Heinlein

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