5 Oz America The Beautiful Bullion

In case you haven't seen the latest update...looks like tomorrow is the date. All coins must be sold to the Public at no more than a 10% premium (if I read it correctly).

Oh...and a "one coin per design per household" limit.

 

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Yes, $850 per 5 pc set.

http://news.coinupdate.com/us-mint-...or-atb-silver-bullion-coin-distribution-0572/

 

Take off your Junior Associate hat, put down your Black's law dictionary, and pick up a copy of The Practical Lawyer (as well as the applicable statute).

You're simply arguing for the sake of arguing, and doing a poor job of it. The fact that you do not even recognize what distinguishes an Option from a Right of First Refusal other than in a textbook context tells me all that I need to know about your analytical "skills." Keep focusing on whether the NPS paid consideration for the right expressly granted to it by Congress, so you can fit it within one of your immaterial definitions. I'll keep looking at the language of the statute itself (and wondering when you're going to pass, not puff!).

 

I wonder if APMEX will honor their advertised $1200 buy-back price.

 

*Boom!* So much for me not living in reality, eh? That's ok, living in fantasyland as you have been does have its pluses (just don't bogart anymore, mmkay?).

$850 a set. Nice.

 

Perhaps it is just me but with the small mintage of these items would it not just be easier from the mint to sell them directly to the public? or am I using to much common sense? After all they already have the system in place to do these types of sells on their site.

 

I don't think they anticipated such a fiasco as what developed. It's probably too late to change now...given that some seller already began taking pre-orders.

 

The legislation on this product compels them to sell though the distributors.

 

Yep, your using to much common sense. My opinion, they should not have released in that manner, rather as you suggest.

 

Again, legally they should not have billed anyone's credit card to begin with.

 

Ok, that make sense as to the reasons why they are doing this in the manner that they are.
Thank you

 

I am wondering what APMEX is going to do about my order - I didn't pay with a CC but rather sent in a check... So hopefully they will be sending me my 5 oz set along with an extra $500~ ?

 

You will probably receive you check back ., I would think.

 

Year Location National Park or
National Site

2010 Arkansas Hot Springs National Park
Wyoming Yellowstone National Park
California Yosemite National Park
Arizona Grand Canyon National Park
Oregon Mt. Hood National Forest

2011 Pennsylvania Gettysburg National Military Park
Montana Glacier National Park
Washington Olympic National Park
Mississippi Vicksburg National Military Park
Oklahoma Chickasaw National Recreation Area

2012 Puerto Rico El Yunque National Forest
New Mexico Chaco Culture National Historical Park
Maine Acadia National Park
Hawaii Hawai'i Volcanoes National Park
Alaska Denali National Park

2013 New Hampshire White Mountain National Forest
Ohio Perryâs Victory and International Peace Memorial
Nevada Great Basin National Park
Maryland Fort McHenry National Monument and Historic Shrine
South Dakota Mount Rushmore National Memorial

2014 Tennessee Great Smoky Mountains National Park
Virginia Shenandoah National Park
Utah Arches National Park
Colorado Great Sand Dunes National Park
Florida Everglades National Park

2015 Nebraska Homestead National Monument of America
Louisiana Kisatchie National Forest
North Carolina Blue Ridge Parkway
Delaware Bombay Hook National Wildlife Refuge
New York Saratoga National Historical Park

2016 Illinois Shawnee National Forest
Kentucky Cumberland Gap National Historical Park
West Virginia Harpers Ferry National Historical Park
North Dakota Theodore Roosevelt National Park
South Carolina Fort Moultrie (Fort Sumter National Monument)

2017 Iowa Effigy Mounds National Monument
District of Columbia Frederick Douglass National Historic Site
Missouri Ozark National Scenic Riverways
New Jersey Ellis Island National Monument (Statue of Liberty)
Indiana George Rogers Clark National Historical Park

2018 Michigan Pictured Rocks National Lakeshore
Wisconsin Apostle Islands National Lakeshore
Minnesota Voyageurs National Park
Georgia Cumberland Island National Seashore
Rhode Island Block Island National Wildlife Refuge

2019 Massachusetts Lowell National Historical Park
Northern Mariana Islands American Memorial Park
Guam War in the Pacific National Historical Park
Texas San Antonio Missions National Historical Park
Idaho Frank Church River of No Return Wilderness

2020 American Samoa National Park of American Samoa
Connecticut Weir Farm National Historic Site
U.S. Virgin Islands Salt River Bay National Historical Park and Ecological Preserve
Vermont Marsh-Billings-Rockefeller National Historical Park
Kansas Tallgrass Prairie National Preserve

2021 Alabama Tuskegee Airmen National Historic Site

 

The mint decided to "fix" its incompetence through (perfectly legal) price fixing, and in doing so proved both my points that APMEX did nothing wrong and that these coins aren't being handled as bullion.

BTW, welcome to the law of unintended consequences. Take a look at the list of 11 distributors. Now go to websites and see how few of them are set up to deal with retail orders. A lot of them simply are going to pass on this opportunity since $800 sales don't fit their business model and there's not enough margin to do a "one-off."

What happens then? Well, on the 20th the mint will release the leftovers to those distributors which are willing to handle them. That means APMEX and possibly as few as one other. So it's entirely possible that APMEX will end up making more money than they would have under the original plan. Yeah, the Mint slapped them down real good.

And in the meantime? The price bubble will keep inflating, because there will be fewer coins available to the public by Christmas. So not only do I stand to save $450 on my purchase, but if I decide to resell them I could easily end up making another $500 or more in profit. So yeah, I guess I'll have to cry all the way to the bank.

 

Somehow, I knew you wouldn't let this go. Your inaccuracy is matched only by your persistence. Only in your (fantasy) world, counselor, has it been proven that APMEX did nothing wrong.

Anyway, given that you're unwilling to give up the ghost on this, what you should be talking about is whether the Mint has a valid right unilaterally to modify materially the terms of the contract pursuant to the referenced clause. Today's edict makes it look like an illusory contract, eh? And what are the chances that the contract contains a Severability clause?

If APMEX elects to move forward under the arrangement, and it ends up making more money due to volume than due to gouging, then good on them. What -won't- be happening is APMEX making a windfall at the expense of Joe six-pack. If you don't see today's development as a slapdown on APMEX, then...well, in light of your prior reasoning on things, I'm unsurprised -- in lala land, as usual.

 

I received email from APMEX saying that they would honor the sales if the US Mint made the coins available to them. I assume that means they have to sell the coins at the lower price and refund the difference.

What do you suppose all the people are going to do who bought these sets on ebay or from retailers for $2000 or more?

 

Kicking themselves in the keyster?

 

Latest update from the US Mint!

Great news, guys! According to the US Mint Pressroom (http://www.usmint.gov/pressroom/) the America The Beautiful 5 oz. silver bullion coins will be released on December 6th! I'm very pleased with the way they are keeping the coin collecting community up to date with their timely bulletins.

 

Mr. Peabody and Sherman workin' the "wayback machine".