It is a little confusing, but I read the article about the Mint's sales and it essentially stated that September sales were the lowest monthly sales so far for 2010. However, the caption under a picture of a Silver Eagle on page 5 of the on-line version had this to say: "The American Eagle 1-ounce silver bullion coin is still being sold by the U.S.Mint at a record pace, with the record set in 2009 likely to be broken."
I think that says it all. From what I've read, silver is still selling at a record pace, just not newly minted silver bullion, thus the Mint's silver sales are lagging. The stuff already in the market is what is selling. This tells me the lack of interest in newly minted silver means it's almost at saturation levels. No need to say what that will cause. Guy
I have been buying pre 07 ASEs for as little as $1.00 over spot from various dealers......whereas the newer 2010s still have a premium of roughly $4 above spot with most dealers. If this is the norm in other parts of the country I`m not surprised the mint`s sales have been slow. Why pay more for the 2010s when there are older ASEs that can be bought with a minimal markup over spot?!?
The Mint hopes that people won't think like that. The Mint wants every gullible collector and non-collector to buy these things up thinking they are at a great deal. The only people who don't do this are people that are in this for the bullion only. I'd much rather pay $30-$34 for a silver round (ASE or not) than put $40+ into an ASE in a pretty little box from the almighty US MINT!
I would hesitate to make a conclusion based on one month's results. Granted, the Mint's sales also declined in June, July, and August as well as September, but October sales surged. According to CoinNews.net, "It was the best October ever for the series which was introduced in 1986.": http://www.coinnews.net/2010/11/02/...ullion-coins-surged-sales-near-annual-record/
Lol......I feel the same way. The only thing that I somewhat like from the mint (regarding bullion boxes) are the proofs.
It's similar to newly released movies-- It doesn't make sense to pay full price to see a movie when it comes out because it will be cheaper later, but people pay the full price anyway. I think in the case of the Mint's products, a lot of people want to obtain them in the year they're made even though they have to pay a higher price for them. Also, they might be afraid of "missing the boat" on a scarce date, like the 1996 ASE.
you guys do realize most if not all coins from a dealer are what's left from cherry picking right? so say you pay $34 to a dealer for a cherrypicked ms or pf 68 ASE... or you go straight to the source and pay $45-50 for a ms or pf 70 ASE... it's really up to you what you want...usually you have to pay more for better quality...
I don`t blame You for doubting, but it`s called "being friends with a few local dealers." There is also a collectible shop near me with some coins in it that are priced all over the spectrum.....the guys who own it mainly deal in nic-nacs (aka newer crap) from China and don`t keep up on the spot price of silver too much. I picked up an 02 and a 94 ASE for $28.50 each (before tax) when silver was bouncing around the $27 range that day. They currently have some others ranging from $29-32. (common dates) Again, don`t ask me why they have their ASEs priced differently, but I`m not complaining, and plan on picking the others up too. If they`re still there I`ll post some pics of their display case as well as the ASEs with the price tags on them. : )
BINGO!!.....could not have said it better myself. Psychology and business 101 at its` best. Most people (especially Americans) have to have what We want asap......just look at all the people who wait in line for the newest gaming system and or games. These retailers have Us figured out and take advantage of Our materialism/impatience. The mint is no different.....they`re out to make money too.....in more ways than one. : )
I kind of doubt that anyone "took the heat" for that. After all, wouldn't you want to read the articles to find out why the headlines seem to be contradictory?
