5 Oz America The Beautiful Bullion

coinman0456 is right. I wanted this set because I'm really into the national parks and I was hoping to get one of the grand canyon coins for my dad for Christmas to commemorate our trip there many years ago. I, like probably most of you here, thought a bullion coin would go for much closer to its bullion value. It's just really disappointing. Given my interest in the national parks, I would pay more than bullion value obviously, but not 2x!

 

Log in or Sign up to hide this ad.

http://mintnewsblog.blogspot.com/2010/12/america-beautiful-silver-bullion-coins.html The profit mongers and the profit mongers collusion .



SAY NO TO THE PROFIT MONGERS, LESS YOU BE PARTED OF YOUR GOOD SENSE ! Shame ! I URGE YOU ALL, TO NOT FALL PREY .

 

Here's an interesting article:

http://news.coinupdate.com/keep-america-the-beautiful-silver-bullion-coin-prices-reasonable-0561/

 

Turn your nose's up and lock your purse's . I plan on drafting a very neatly composed letter to Cesar Ed Moy, to inform him of my displeasure with this Mint's directorship , ,particular's in this regard , and if you are of the same mind, I urge to as well .

 

I think I beat you to it, in the previous post. I can think of no other descriptive at the moment other than SHAMEFUL!

 

Too rich for my blood but I don't think buyers at APMEX's prices aren't taking too much risk and there is a good chance of nice appreciation for these for two reasons.

With the manufacturing problems I think it's a gimmie that future years will have higher mintage especially if the popularity of the new format takes off.

The new format could be a real boon. If the mint "sculptors" can adapt and create designs that have a noticeably increased eye appeal in the 5oz format compared to the quarter size the series could take off. If you ever hear people disparage a design on a quarter but praise it on a 5oz they have succeeded. I don't have a lot of faith the mint is innovative enough or has the talent to pull it off but it could be.

Anyway, grats to you guys who made the purchase. I'd be real interested to hear from people with coins in hand if the new hockey pucks have the exact same detail as the quarters or if they added detail to fill out the extra surface area.

 

Nothing more than severely over-priced, over-sized novelty pieces that were made with the intention of being available to mint selected priority accounts. What's wrong with that picture ? Quite a bit if you ask me and again I will question the legality of issuance in this manner .

 

Do ya think apmex is holding back some in order to sell singles? Curious to find out.

 

I was pondering the same thing...
One option is that they already have the tracking number on their first 1000 sets which is why they only sold 1000, and they are awaiting the next shipment.
Option two - I did read somewhere that the TPGs already have slabs which could accommodate these so they may be getting some graded so they can sell the 70s at uber premiums.
Option three - i dunno, maybe they are holding some back to sell at a later date? Maybe they have plans to sell full sets one day?

 

Is APMEX the exclusive dealer on these or will others be carrying them as well?

 

Ok I have to get this off my chest and please do not take offense to anything I say.

I understand people are very upset about the prices but in all reality if Apmex was selling these as singles for $280 no one or very little folks would be talking trash.

Let's all be honest it's not the price you are all worked up about it's the fact you have to buy all 5 as a set!!

I bet you if Ganiesville sells singles for $280 not one of you will complain and most of the trash talkers will buy those singles, almost guaranteed!

So let's admit it and be honest we are upset about the quantity not the price necessarily!

 

Some may be upset about having to buy the complete set, but I think the price of these is overwhelmingly the reason most people are upset.......... Many were expecting these to be sold a little above bullion prices it appears, and they may be after a while. I don't blame APMEX for the price however. They could have sold them for much more and still sold out of them. They sold out of 1,000 sets in 19 hours! I blame the USMINT for not selling them directly to us.......

 

http://cgi.ebay.com/AMERICA-BEAUTIF...567?pt=LH_DefaultDomain_0&hash=item45f73fafdf

step right up 25 oz. of silver only $1717.00

 

My issue is Authorized Dealer profiting beyond reasonable

I do not care about order minimums (whole set, $$ limit, etc). What I care about is an authorized distributor making 75%+ profit when they are obligated to make "reasonable spread".

Either the mint has used this release as a way to get a "bonus" to their dealer network....than I agree with CoinMan, shame on the mint.

Or, APMEX is opportunistically taking advantage of its access to a scarce product...shame on APMEX and I wish the mint sold via EBAY....at least that way the profits are going to the government and helping my taxes.

Anyway this goes, it is bad. There should have been more control in the release to ensure fair treatment. The Treasury did not ensure that bullion entered the market at bullion rates....shame.

At best...APMEX should no longer be a dealer as this action proves they are not what was originally intended. The Treasury and US Mint should evaluate "fair" methods of distributing bullion, as this situation proves the current solution is not fair.

 

P.S. There is a true financial system reason legislation for general bullion release requires the Treasury/Mint to produce in quantity large enough to satisfy demand.

 

1) Anybody want to bet when the AtB's will show up on the TV shopping channels?
2) What will they charge?
-a) raw
-b) MS69
-c) MS70

 

a) raw = $399
b) MS69 = $449
c) MS70 = $799

I'll be placing my order with the mint next year. : )

 

There are 10 authorized U.S. distributors for bullion products from the U.S. Mint. APMEX is 1 of 10.

 

This goes to my original point about the mint selling through just a few dealers. You cannot get a fair price if the piece is low mintage or in high demand.
For those of you who bought a Lincoln Chronicle set from the mint-what do you think you would have had to pay if they would have sold all 50,000 sets to there distribution network? Then you would have bought your set after this network sold them out to dealers.

Lack

 

I believe that is true of the silver Eagles but that the AtB 5 ouncers can legally be produced in any quantity the Treasury deems appropriate.