5 Oz America The Beautiful Bullion

It's amazing that they are boasting about how they sold 1000 sets in 19 hours at $1400 a set. I would never make another purchase from AMPEX ever again. I hope they are satisfied with the extra $50,000 because that won't make up for all of the customers they are going to lose....RB

 

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Howabouttrade and others,

I keep hearing over and over again that Apmex is overcharging because they have a 75% mark up and some are saying as high as 100%. Can you clearly explain to us how you got to that number? Being a financial services guy and knowing math here is the breakdown:

Spot - $29.38
Premium - $9.75
Total Cost to Apmex - $39.18 per ounce

Total sell price per ounce - $55.18

That is a 29% mark up!

Retail is currently at an average of 31% mark up so I guess we are all getting a discount.

My in laws are in the jewlery business where this is an average of 425% mark up!

Furniture is a 60% mark up!

So my question is two fold:

Are you going to not buy jewelry and furniture?

Second please explain your math I am dying to hear it

 

In comparison, how does this match up with their mark up on other US Mint Bullion products?

 

Game, set, match. DougandBeth makes a most excellent pary.....

 

Hey DougandBeth - hate to say but your math is a little skewed here...

Spot is $29.38 * 5 = $146.90 they are paying for the silver

They are then charged $9.75 per coin as a premium bringing their per coin cost to $156.65.

Now divide that by 5 and that is what APMEX is paying the mint for each ounce of silver, or $31.33 per ounce - not $39.18 per ounce

Now do the math on what they are selling and it comes to roughly $56 per ounce or paying about $783.25 for a set they are charging $1400 for - about a 50% profit. Not overly excessive but considering they are supposed to make bullion available with a "reasonable" markup, it's a bit high.

 

Just my two cents but I would think the mark up on the ATB coins should be comparable to the ASE markup. Nothing but greed on their part.

 

If the mint truly had an interest i n keeping pricing down, they never would have released these in this manner, that was all tongue in cheek. 5 oz @ $30.00= $150.00 per coin, current bullion pricing times five coins = $750.00 X ( fair retail markup 35% ) = $262.50 + $750.00 = $1012.50 not the $1400.00 the set initially was offered. You try making up your coins 35% and see how many offers you get. Those items mentioned in the recent quote, those are considered life necessities, with the exception to jewelry which of course are luxury items . Your way off base with your attempt at a justification for these ridiculous and outrageous prices. The means in which the mint chose to promote and distribute these items has some serious legal issues which will be be dealt with in the coming months. This was nothing short of facillitating illegal price manipulation, to cite just one issue of law that is in question. Someone, please show me, where the mint has been authorized to limit distribution of any bullion production to only SELECT SECONDARY MARKET DISTRIBUTORS , with regards to this issuance or any for that matter. I am not the brightest guy around, nor is anything I say intended to suggest that I am, We all have a very good sense about Right and Wrong , and rarely need anyone to tell us which is which .

 

Greed is an inherent condition of Capitalism. Is is not illegal. What we see hear is forced market value taking hold, not fair market value. Another situation which is not illegal. It is the buyer's that drive this by paying the price, not the sellers asking for it.

 

Well...dougandbeth had his/her math corrected. So hopefully he/she sees the 75%+ margin on these things....compare that to a $2 or so purchase price of ASE above spot price...which back a while was 10%, now it is about 7%....so APMEX is making approximately 10x more on a percentage basis on the ATB 5 Ounce bullion than they do on regular ASE bullion. Don't volume increases (25 ounce minimum) come with a price break....oops where did that thought come from.

I would at least like to see the ATB 5 Oz priced relative to spot. Even if the margin is higher (within reason) it should be attached to spot and fluctuate accordingly. This would make the pricing appear to be a type of bullion instead of APMEX entering into the coin shop business.

 

SaltySam has a point on capitalism...and that is fine if the seller is not under legal obligation to release limited supply precious metals it only has access to due to contract. The buyers are paying it...true...however; the wrong party is making the profit. As a taxpayer, APMEX is my channel for distribution as they work for my government, and if it is making excess profits, I want them returned to the government, or let the profit be made in the open market which is the intent of the "reasonable markup" clause.

 

In this case the seller's did, prompted and facilitated by the Mint.

 

APMEX is using its relationship with our government to screw me & you....The Treasury and The US Mint need to know, need to discipline, and need to rectify. If it is in the open/free market, pricing for demand is fine (cabbage patch kids, pet rocks, name your holiday gift fad here). If it is price gouging (think government involvement to keep gas prices within reason), there needs to be action.

 

If this is the way the mint wishes to be funded, from here on out I'll not purchase another damned thing from them. I'll go to the Britts, and adjust my interest's.

 

Bullion Coins

Here is where we were sold down the potomac river by the mint director, Cesar Moy and the Profit Mongers.http://frwebgate.access.gpo.gov/cgi...=110_cong_public_laws&docid=f:publ456.110.pdf Pay particular interest in the Bullion Investment additions.


I was unaware of this, and plan on elaborately offering my opinion to his highness, MOY .

I'm done with the U.S. Mint. Now if they were limited to orders in one thousand units, how is it that these bullion dealers only had less sets than this act calls for ? Something still does not quite add up here.

 

I believe people's angst is against the mint to reseller agreements.
If your jewlery & furniture examples were one of the ten allowed to recieve items from the manufacture, how would that change the figures?
I wanted a Yellowstone coin, didn't get it, still simmering.

Edit add: Hey thanks all for the discussions.
Jon

 

And you won't get it, the mint has seen fit to leave it's citizens out of it's purpose of existence, and enter into collusion with profit mongers and price manipulator's . Trademark my ...s!!!

 

If anyone is angered over this issuance, please direct your communications to Michael White , office of public affairs @ 202-354-7222

 

Edit add: thanks to SemperFiSilver for this info!
You can pre-order from Gainesville coins: Looks like single coins! Don't know pricing yet. http://www.gainesvillecoins.com/pro...5ozSilverCoin(AmericatheBeautifulSeries).aspx

 

Alright, I haven’t posted anything on the CT forum in a long while (been a lurker but that’s about it), but I feel compelled to give my two cents on this topic…
For starters, I’m probably one of the youngest people on this forum. Therefore, I spend a lot of my money catching up on purchasing products that I was too young to afford just a mere decade ago. Fast forward to ATB series, I love that national parks and plan (maybe I should say dream) of obtaining a full set of ATB bullions. In my naïve way, I assume that each coin would sell for around $150 to $200 depending on the price of silver at the time.
So I start looking at my budget and planning how I am going to pull this off. Then I receive word that the mint is going to release all five bullions at once instead of every few months like they originally planned. At this point, I realize I’m pretty much up the river at this point…a couple hundred every other month or so I could find a way to afford, but a thousand or so all at once….hahaha! I’m having a hard enough time paying for my college classes (tuition keeps going up every semester by at least $200).
No matter, I figure…I’ll find a way to pull this off. I start planning again and find a possible solution – call up all the people that owe me money! Or maybe get an actual credit card and slowly start paying it off each month. Next I hear the mint is only going to release these to “authorized” vendors – upon receiving this news I knew I was utterly ******! I mean, what the heck!?
I am a part of a proud determined group known the world over as “coin collectors,” but this coin collector can only take so much back and forth. Get me all excited about a new product, and then slap me about the face and sell it only to those companies that are owned/have ties to government members!? Stupid bankers that own the federal reserve… manipulating thieving scumbags.
One sure way to lose a business is to **** off your customers, right? But not to worry, I’m sure the mint/bankers will get a bailout if enough people stop buying their products. The mint dedicating itself to serving the U.S. citizen…naww…dedicating itself towards its own financial gain since 1914…you bet!

 

John, There won't be any single 5oz coins being offered thru the mint.