5 Oz America The Beautiful Bullion

$9.75 per oz would be an enormous premium compared to the typical premium the mint charges authorized sellers for silver bullion coins. In October, 2010, the mint raised the premium on ASE's from $1.50 to $2.00 per coin, so $9.75 per coin is just about right.

 

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someone post a link to the recent news about these.

 

Here you go:

http://news.coinupdate.com/america-the-beautiful-silver-bullion-coins-halted-0563/

TC

 

Excellant. I am proud to be one of many that took effort to convey to this mint, it's director and operations the displeasure with this release, the manner and obviously distorted price fixing. Thank you to all who joined me in this effort.

 

Haven't been on CT most of today, apologies is this link was posted earlier... I saw the Coin Update mention of this story posted but not the mintnewsblog story:

ATB Silver Bullion Coins Delayed from mintnewsblog.com [12/6/10]

 

If they only had listened to me, we may not be in this mess. I would have also advised them to sell the coins individually. TC

 

They'll never learn!

 

Hey, let's make TC an authorized dealer.....

Just need a whole boatload o' jing.

 

If the President signs the new bill changing the coins size, perhaps it will affect the entire arrangement. You will have a new coin, new release dates, even new distribution methods, voiding out deadlines and restrictions of the original bill. They will melt all existing product and begin anew.

 

To me this entire program of all the America the Beautiful Quarters series has been handled wrong. First I know the economy is bad and the need for coins is not what it was, but banks should have still been allowed to order these by the rolls as they did the state quarters.

The subscriber sets the mint is selling in the BU and satin finishes should have been packaged in the 3X5 acrylic just like the clad and silver proof sets.

If the mint doesn't have enough silver to produce the 5 ouncers in sufficient quanities then they should wait or reduce the amount of silver and size even if they have to go back to Congress to change it.

I mean look there was no ASE proof last year at all, this year it came out at the end of the year in a low total mintage. I don't collect these, but I think I have read the mintage is low.

The whole program on these in my opinion has just been handled bad. I really wanted to get a set of the 5 ouncers, but not at these prices. I didn't want them as an investment, but as a collector. To me the mint, since such a low mintage, should do two things. First, get the silver to increase the amount of these to be minted. Second, sell them directly themselves. Even if the mintage was doubled I don't think the mintage numbers would overwhelm the mint.

This who program really upsets me, can you tell?

 

APMEX to issue refund....they should not have charged cards prior to shipment

All who bought from APMEX...I have read arcticles with copies of a letter they sent to buyers. One of the options is for them to refund the money paid. If you paid by credit card they are not legally allowed to charge you until they ship you your product. If they charged your card before they ever even had product....wow...that is against all credit charging rules out there. Another big ding from the greed of APMEX....trying to use your money to pay the mint.

 

I just sent a note to Treasury and the US Mint giving them kudos for stepping in on the price gouging seen by APMEX and others. I also made them aware of APMEX comments about refunding credit card payments. If it proves to be true that APMEX charged credit cards prior to shipping product, wow the fallout there could be huge. Any of you who have preordered from the US Mint have seen how you are not charged until they ship you the product....this is the rules. APMEX may be in even hotter water....1000 sets at $1400 each....they possibly charged $1.4 million to consumers illegally.

 

I was mistaken...not illegal to charge early, just a very poor business practice and against several credit card company's policies. So, BAD BUSINESS by APMEX...but not illegal.

 

Evidently someone is poking fun at the situation.
Hurry up and buy now. The price keeps going up, haha. Get your set now, only $825,000.00
plus, shipping is only $10.00!


http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=290509513832

 

Congrats to all concerned! It payed off!

Will this cause silver to skyrocket even more?

http://news.coinupdate.com/america-the-beautiful-silver-bullion-coins-halted-0563/

 

Too funny! :too-funny: If I was an authorized dealer, I would now capitalize on the negative publicity of the others so far and price the bullion pieces at: $199 EACH. This would give me about a 25% profit per coin ($30 spot silver * 5 ounces + 9.75 mint mark-up per coin * 1.25 profit) per coin, but more importantly would also likely win me some loyal customers as well. I know that I could charge more for these but will make it up with other purchases from these new satisfied customers. TC

 

I spoke with Candice this morning at the mint, (202-354-7227) she said they are "overwhelmed' with calls regarding the 5oz ATB rounds.
She will email a response to me, I hope, and I'll post here once she does.

Hope the mint offers direct on their site and limit per household...

fingers crossed!

 

Perhaps 'Minting on Demand' will come to be an option someday. Might help all the fiasco, though I doubt anyone will be pleased with the per unit cost, save for those bulk buyers who would likely get discounts for large quantity orders placed. May/may not control many factors the Mint seems to suffer from repeatedly and keep this a collector based hobby with realistic mintages kept in some degree of control. Hopefully would curb waste of over producing and underselling from the outset, attempting to meet demand.

 

"The United States Mint will strike all 2010-dated numismatic coins by the end of the year, as required by law."
http://www.usmint.gov/pressroom/index.cfm?action=press_release&ID=1182

that would be nice, however the value would no longer be there due to unlimited availability.

 

Limitation could be set by an open window for which orders must be placed and minting rules for minting/selling only within the same year should still apply. If demand so existed for unlimited quantity then so be it, but that would not be the case, all mintages are limited, technically.