5 Oz America The Beautiful Bullion

C'mon guys don't disappoint me! Aren't we going to start a "don't buy from Gainesville" thread?

On a serious note I just called them and there price is now $2,195

I guess I made myself $800 pretty quickly!

Anyone want to buy mine for $2,000?

The sun is shining right now over here!

 

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hockey anyone? hehe

 

I find all this laughable.

 

Sell em quick

Sell em quick.

 

Roflmao

https://www.shopcsntv.com/catalog/c...UL_12-6-2010&ET_cid=11945535&ET_rid=394773273

 

How can they be grading them MS69 already?

 

I know if I died this day, I have never put the screws to any fellow coin collector. I know in my heart what " Fair and Reasonable " is. Despite the inflated prices people are taking sinful gains with this issue. You can either join em or defer to a righteous mind . Personally, I would be ashamed to be associated myself with any purchase or sale of this item. That's me.

 

This set represents a tipping point for US Mint products. I have been on many different forums, and for many years. This is the first time that, across almost the breadth of the collecting community, collectors are all recommending that we forego purchases. Whether the price gouging is your reason, or you are upset about the limited release numbers, most of us are saying "Enough is Enough". I posted this earlier, and was roundly criticized for saying so. The reply to my post was that I was a malcontent of limited means. I posted a rebuttal calling for cessation of personal attacks, so here goes again : "Hey, admin, are you also going to pull the posts of all the other folks who are infuriated over this issue. as well?" If so, better get yourself a skilled typist, who can delete posts at superspeed. If you check for content, about 95 percent of the rest of the board are in consensus with my ire at how these are being marketed. In the future, if you simply want forum members who are vegetables or lemmings, and are happy with the US Mint uniformly, just ask the US Mint to post here, instead of having us waste time watching as you delete our posts again and again for no apparent reason. Expect that we have minds and will weigh in. Quit deleting posts. This is an open forum. Or is it?

 

This is just flat out ridiculous. The way I see it, the economy will either get better and the price of silver and gold will go down, or the economy will get a lot worse and, well, you can’t eat silver.
The sell out of this product reminds me of a bunch of sheep following the head sheep over a cliff! Sure, if you flip it quick enough you can make a good profit, but what about the long term value? I can’t see silver always staying at or above $30 a troy ounce…

 

It could be worse. Here's a 5 oz. silver coin offered by the Royal Canadian Mint for $419.95 Canadian.

(oh and it's sold out, by the way).

 

I guess that my $1000 price was way off the mark.

I cannot afford $1700-$2000 per set and I will have to pass on purchasing these coins. It is unfortunate since I had been looking forward to buying these coins each year. I am happy to have the silver and clad quarters in my annual sets.

In short, I believe the US Mint has made another grave error in how many of these coins are being minted, poor availability through authorized dealers and at inflated prices based on speculation.

 

I know what you're sayin' coinman, and I do agree with some of what you say, but, we are talking business here. Business that some depend on for their livelihood. Now I can echo you're sentiments that the cost of this product being sold is too high. I won't buy one. You won't buy one either. But who is to stop the other folks who really don't mind paying these outrageous prices? You and I can't stop them. And these pieces are going to sell at whatever the market will bear. "Fair and reasonable". Who is to decide what's fair and reasonable? That has to be decided by the person who is buying, not you and me.

Back in 2006 I could o' bought 4 sets of the 20th anniversary silver eagle sets for $100 each and turned around and sold 'em for $400 each. Is that fair and reasonable? I had the chance but I didn't do it. Many did and made money. That's the way business works. Reason is whatever the market will bear.

 

It may all be a moot point, just got off the phone with gainesville and they said the mint may have just cancelled them all together and no one will get any. APMEX chat wasn't very helpful as they stated they hadn't heard anything about cancellations yet and were going to look into it.

 

Hey, this is getting interesting!

 

That is very interesting news, though I don't see how the mint can renege. Personally, I think there may be some very interesting legal claims coming about. Than again, perhaps not.

 

"Fair & Reasonable" is the standard that dealers that have special restricted access to the Mints bullion sales are expected to meet. Bullion is a commodity, that is expected to sell at a small premium over the SPOT price.

The Collector coins produced by the Mint have much higher premiums, because Congress has established that these coins shall be used to support activities that the coin represents.

It is my understanding that Congress authorizes the Mint to produce bullion coins with the expectation that they will be distributed to the general public at a low markup over the SPOT price of the commodity.

The bullion dealers make their money on the high volume of bullion sales. The coins are supposed to be a means of owning a commodity, and not collected based on their design or mintage.

The ATB bullion coins are being sold as collector coins, at collector prices, and only a small handful of dealers have the opportunity to participate in their sale, which has resulted in price gouging.

What has made this situation worse, is that the 2010 coins are being released at the same time that new legislation is on the Presidents desk for signing that will make these 2010 coins very rare, because all future ATB coins will be a different size, etc.

Add this to the already long list of major screw ups by the US Mint under the "leadership of it's current Director.

 

Very well said Dave.....

 

Yes it's official the mint has pulled back on the coin. I spoke to Apmex who stated they have no idea when they would be released but is not making it sound like it's far off and encouraged to keep the order locked.

I then called the mint to find out and had to speak to 3 different people and finally got someone on the line that sort of made a comment "the pricing that was given to our distributors was not accurate". I asked if it was too low and they said "no it was not too low"

Not sure of they were blowing smoke or not

My gut is telling me the premium should have been $9.75 per ounce not coin and they are now negotiating but that's just a gut feel.

Who knows but I am still going to stick it out!

 

Talked to one of the authorized sellers today, only $2100 for the set of 5. Mentioned that is higher than the silver content and she said the "premium is a little higher than normal." (Austin Coins).
I think the hype is driving this price higher than normal price right now.

 

No, the mint has legal issues to deal with with regards to this issuance . One of many to follow. One of which is getting rid of MOY. He is a disaster !