Mint prices changed today

Just checked the status of my UHR and Buffalo proof order from last week and noticed the repricing:

UHR Price: $1,539.00

Buffalo Price: $1,460.00

 

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That sucks!! I thought they didn't do that until Thursday. I've been thinking about buying a few things and was going to get my order in today before the price jump. Oh well.

 

Mint is lowering price on silver products now,


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This product is temporarily unavailable for product repricing.
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So, I ordered a 5oz Gettysburg P, but my card hasn't been charged yet. Will I be billed the new lower price, even though my receipt has the higher price or will I have to cancel my order and reorder at the lower price? Anyone have any experience with this type of issue?

 

I just talked to The Mint and the rep said if you ordered the 5oz P Gettysburg last week you will be charged that price rather than the new lower price. So, the only way around it is to return the higher priced coin and reorder it at the lower price. I suggested The Mint reevaluate their position and do what most retailers do and give the buyer the lower price without having to return the item, otherwise The Mint will probably have most of the Gettysburgs returned.

 

I just got a 2011 Burnished Silver Eagle a few days ago, and it was $60! I was thinking of returning it anyway since paying twice spot was a bit much. I hope they make it worthwhile to rebuy it.

 

Had to take a double take on this one. 5 post topic jumped from US Mint pricing of the UHR to the ATB. LOL

 

I believe the thread topic is, “Mint prices changed today”.

Anyway, has The Mint moved this fast in the past when PM’s change? Has The Mint closed sales for long periods to wait to see where PM’s “stabilize” or do they usually restart sales soon? The Mint rep said, sales could start again tomorrow or it could take more than a week.

 

I just checked still repricing. Maybe they will do it Thursday I think thats when they reprice gold.

 

Two thoughts:

One, someone said they should give the customers the new price when prices go down. Problem is the mint does not have the profit margins like a retail store.

Second, if you wish the mint to give you a lower price when they go down, is everyone here ok for them to increase the price if PM goes up after you order?

Not being facetious. It has to be one way or the other. Either you are ok with the mint changing prices up or down after the order is placed, or your not. Absent that, if you only want the price honored if it goes up, but you want the price lowered if the market goes down, then the mint will have to increase its margin, (sales price), in order to have enough profit like a department store to be able to do that.

 

The real question is, what will happen with the economy. If Europe doesn't get its act together, everything will slip further. I'm betting on them getting their act together. Thus, the dollar retreats and silver goes up. I've been wrong so many times that I'm not betting on it though.

 

Harder to believe The Mint's profit margin is lower than a department store, since their prices seem extremely high for most of their products. In fact, with their monopoly pricing, we collectors pay for the entire mint operation, including providing coins for commerce, a function once paid for by taxpayers, since they benefit.

 

I'm glad I'm not in charge of pricing at the Mint. I imagine there's plenty of red tape to hurdle before a reprice. With the volatility, it would be difficult.

 

Well, most department stores triple the wholesale price. Is the price of a AGE or ASE triple its bullion cost?

 

I think you're thinking about jewelry. The markups I've seen are 20% to 50%. Now, why should collectors pay $14 for two rolls of cents or $45 for two rolls of quarters that cost the $2.50 to make and have a face value of $20, I could go on and on. Clearly The Mint makes a huge profit, as collectors pay for the entire operation.

 

Looks like Mint dropped gold &platinum price. Silver still repricing. I'm guessing they are going to wait for 7 days so they can't be returned.
http://mintnewsblog.com/2011/09/gold-and-platinum-numismatic-product-prices-decreased/

 

How much the mint can charge for its products is defined in the specific legislation that authorizes each coin. It's not being operated like a private business.

 

Still repricng? I don't get I got any silver in last 7 days just return it. You can get it back for mostly likely ten dollars cheaper.

 

yeah, looks like the Mint is in hibernation.

 

The US Mint is a department of the US Treasury. They may of course be getting some "direction" the rest of us are not exposed to.