Do coin dealers get a discount from the us mint?

Comments

• Steve27 Posts: 13,275 ✭✭✭

  August 29, 2006 9:31AM

  No, but they have been known to order huge numbers of mint sets, cherry pick the best ones, and return the rest.

  "It's far easier to fight for principles, than to live up to them." Adlai Stevenson

  0
• ScarsdaleCoin Posts: 5,331 ✭✭✭✭✭

  August 29, 2006 9:39AM

  The US Mint gives us the standard 60% dealer discount....but sssshhhh dont tell anyone else....
  
  
  

  Jon Lerner - Scarsdale Coin - www.CoinHelp.com

  0
• FatMan Posts: 8,977 ✭

  August 29, 2006 9:42AM

  Yes, here is the link for the Dealer Bulk Purchaser Program

  0
• RichieURich Posts: 8,553 ✭✭✭✭✭

  August 29, 2006 10:01AM

  sunrisecoins

  An authorized PCGS dealer, and a contributor to the Red Book.

  0
• notwilight Posts: 12,864 ✭✭✭

  August 29, 2006 10:06AM

  
  
  << <i> sunrisecoins >>
  
  
  
  5%, no wonder all the dealers are getting rich!!! What a margin!!! or should I say "What margin?"
  
  --jerry

  0
• ABC123 Posts: 2,627

  August 29, 2006 10:11AM

  They used to, if large numbers of proof sets were ordered. Not anymore, there are no Kings in USA---the playing field has been leveled--Yogi Berra

  0
• sunrisecoins Posts: 3

  August 29, 2006 10:34AM

  thanks everyone for your replies.
  
  i got into coins in 2003 when my dad bought a 1999 proof set.
  when he told me he paid about 40 bucks for them and they were worth
  over $200, i started collecting.
  
  now i'm hooked...
  
  

  0
• Conder101 Posts: 10,536 ✭

  August 29, 2006 10:22PM

  The current bulk programonly allows a 5% discount because the mint wants to make sure they don't mess up again like they did the first time they implimented a bulk sales program. Back in the 1980's when prof sets were $11 each the mint did a dealer bulk sales for $8 a set if they bought 100,000 sets or more. Well, Silvertowne ordered over a million sets and then wholesaled them out to smaller dealers for $9 a set. For a good part of the year all of the coin magazines had ads selling current year proof sets for $10 each, undercutting the mints price. It was great from the collectors view. He could order or go to his local dealer and by the sets for less than he could order them from the mint, and he could examine the set before he bought it. Naturally the direct orders from the mint dropped. If I recall the mint actually sold more sets that year, but since soo many of them went to bulk sales they actually brought in less money. Their next bulk program was so convoluted that no on used it. Today they have their simpler program that doesn't give you much of a discount.

  0
• Coinhog Posts: 1,336

  August 29, 2006 10:33PM

  
  
  << <i>
  
  << <i> sunrisecoins >>
  
  
  
  5%, no wonder all the dealers are getting rich!!! What a margin!!! or should I say "What margin?"
  
  --jerry >>
  
  
  
  Its really only 4% because they have to pay 1% shipping charge.

  Luck happens when preparation meets opportunity.

  0