UHR repriced at $1239

UtahCoin · January 28, 2009 10:10PM

With 2/13 ship date

49thStateofMind · January 28, 2009 10:17PM

Purfect, it'll be out of my reach at that rate

RBinTex · January 28, 2009 11:03PM

What is the latest ship date that qualifies for first strike status?

BAJJERFAN · January 28, 2009 11:10PM

Have they even shipped ANY of these yet?

AnkurJ · January 28, 2009 11:15PM

And gold is going back down again.

Weiss · January 28, 2009 11:24PM

What's so hard about market pricing? Every other bullion trader and coin dealer, from vest pocket to megawebsite, adjusts bullion sensitive products. If gold is $X the day you place your order, charge $X + $300 or whatever they want their cost + expenses to be.

BillJones · January 28, 2009 11:28PM

This current pricing system sure beats the devil out of the old one. In the old days the mint set prices, and they stayed there. If gold went down you had pay a larger premium for no good reason. If it went up far enough, the mint withdrew the item. This way at least you pay a price closer to the melt value.

As for the ship date, I ordered on the first day, and my ship day is only a couple days before the one shown here.

As for those who are concerned about "first strike" status, what is your favorite flavor of Kool Aid?

PerryHall · January 28, 2009 11:53PM

<< This current pricing system sure beats the devil out of the old one. >>

What happens if there is a big drop in the price of gold? There will be many, many cancellations and returns.

BAJJERFAN · January 29, 2009 12:13AM

<< What's so hard about market pricing? Every other bullion trader and coin dealer, from vest pocket to megawebsite, adjusts bullion sensitive products. If gold is $X the day you place your order, charge $X + $300 or whatever they want their cost + expenses to be. >>

But most of them probably don't own or possess the gold whereas the mint does. A flipper won't buy unless he gets an order. The mint can't turn a 1,000 ounce bar into 1,000 UHRs in 10 minutes.

commoncents123 · January 29, 2009 12:27AM

I thought about getting one for re-sale. How much will they re-sale for?

JedPlanchet · January 29, 2009 12:35AM

<< 

<< This current pricing system sure beats the devil out of the old one. >>

What happens if there is a big drop in the price of gold? There will be many, many cancellations and returns. >>

This is why the combination of pre-sales of a product not ready to ship combined with a slow response to a rapidly fluctuating raw material cost is a bad idea.

Will returns be refunded at the price when purchased or at the currently listed price ?

Coins101 · January 29, 2009 12:46AM

<< I thought about getting one for re-sale. How much will they re-sale for? >>

With as many posts you have, I would think you would have an idea what will effect the re-sale value.

rgCoinGuy · January 29, 2009 12:49AM

<< And gold is going back down again. >>

Check again!

BillJones · January 29, 2009 3:21AM

<< 

<< 

<< This current pricing system sure beats the devil out of the old one. >>

What happens if there is a big drop in the price of gold? There will be many, many cancellations and returns. >>

This is why the combination of pre-sales of a product not ready to ship combined with a slow response to a rapidly fluctuating raw material cost is a bad idea.

Will returns be refunded at the price when purchased or at the currently listed price ? >>

So far as I'm concerned the government should have the same stipulations as the dealers do for bullion related gold. You can return it within two or three days. Otherwise, it’s yours.

I can understand perfectly the need to return a damaged coin for a replacement. I’d do that myself because I want this coin for my collection, not for gold speculation. If you are going to play the government as a hedge, you don’t get any sympathy from me.

This should be a clear incentive for the government to ship these coins in a timely manner.

lope208 · January 29, 2009 3:30AM

Haven't we learned anything about Mint bullion yet? Especially gold bullion. The guy who buys it from the Mint pays the surcharge for manufacturing, design, labor, etc. Once it hits the open market, the next guy can have it for melt with a smaller premium. This seems to be true in many cases with the Mint. Obviously, thee are exceptions when mintages are low.

The UHR is anyone's guess right now though, since we have no clue how big the "unlimited" mintage will actually be.

Obiwancanoli · January 29, 2009 9:35AM

NGC says 30 days after the Release Date, if I read it correctly...

cinman14 · January 29, 2009 10:06AM

<< 

<< What's so hard about market pricing? Every other bullion trader and coin dealer, from vest pocket to megawebsite, adjusts bullion sensitive products. If gold is $X the day you place your order, charge $X + $300 or whatever they want their cost + expenses to be. >>

But most of them probably don't own or possess the gold whereas the mint does. A flipper won't buy unless he gets an order. The mint can't turn a 1,000 ounce bar into 1,000 UHRs in 10 minutes. >>

I thought the mint purchased their PM planchets from a third party as well? I would assume they pay a market based price as well

BAJJERFAN · January 29, 2009 11:07AM

<< 

<< 

<< What's so hard about market pricing? Every other bullion trader and coin dealer, from vest pocket to megawebsite, adjusts bullion sensitive products. If gold is $X the day you place your order, charge $X + $300 or whatever they want their cost + expenses to be. >>

But most of them probably don't own or possess the gold whereas the mint does. A flipper won't buy unless he gets an order. The mint can't turn a 1,000 ounce bar into 1,000 UHRs in 10 minutes. >>

I thought the mint purchased their PM planchets from a third party as well? I would assume they pay a market based price as well >>

At some point the mint has to write a check for the gold they purchase; thus they have a fixed material cost per ounce plus labor plus overhead, but I'm not sure how long it is from the time they cut the check until they have a coin to sell. They price the coin in such a way as to minimize the effect of short term price swings so they don't have to reprice 8 times a day. Have not bought from Tulving in awhile, but his price quotes were usually good for 2 hours. So whatever orders he took in a 2 hour window he had a seller willing to fill at a fixed price. So in that case he probly didn't own the gold he was selling/ he was just flipping it or if he did have gold on hand he just bought replacement stuff. If you own paid for $950 gold when gold is $850 rather than sell at a $100 loss you just sit on it and flip the $850 stuff without ever owning it.

PerryHall · January 29, 2009 9:59PM

Any guesses as to what the price will be next Thursday?

BAJJERFAN · January 29, 2009 10:01PM

<< Any guesses as to what the price will be next Thursday?

>>

More than $1,000. GARRANDAMTEED!!

PerryHall · January 29, 2009 11:30PM

<< I can understand perfectly the need to return a damaged coin for a replacement. I’d do that myself because I want this coin for my collection, not for gold speculation. >>

If the mint only allowed damaged coins to be returned, what's to prevent a dishonest speculator from damaging a coin prior to returning the coin? The capsule isn't sealed so it would be easy to remove the coin and add a scratch prior to returning it.

UHR repriced at $1239

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