2016 ASE $16.95

If any dealers are reading this, I was just wondering what you have to do to order these from the U S Mint and how much they cost.

 

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You can only buy these from dealers. The usmint website provides a lot of information on what they sell and what has to be purchased through a dealer.

 

Yes, understood, and there are only a handful of dealers who can buy Silver Eagles directly from the US Mint to sell to smaller dealers and the general public. It's how the US Mint's Bullion program works. The question is, what is dealer cost on these?

I think Kentucky is curious, as I am, if govmint is actually losing money, breaking even, or earning a little on this sale. When I bought mine, the price of silver was $15.50 ($155.00 for 10 ounces), so $169.50 was only $14.50 over melt. Considering I used my CC to purchase the lot, and they shipped them via UPS 3 day, packed individually in flips, there isn't a whole lot left there for profit even if the US Mint is selling to dealers at spot.

 

For the bullion ones only a handful of mega dealers can buy them from the mint who then distribute them to all the other dealers. They have a whole list of criteria on their website you can find for applying to be one but basically you have to be a massive wholesaler with an established network and a net worth of at least 10 million dollars for 3 of the previous 5 years. There are a lot of other requirements as well such as the minimum order is 25k ounces for Silver Eagles.

Long story short the mint does not want to sit on bullion coins that have price fluctuations daily from metal. They want to pump them out and have them sold immediately to their authorized purchasers and let them worry about the price of metal moving while in their inventory.

 

I was just mentioning the deal to a dealer in a gold/silver shop that has some good coins and he said that he couldn't buy them that cheap.

 

Skunked by another site, but I got free shipping.......I'm loyal to them though. I've 'skunked' them in years past, so it all works out.

 

Forgot to reply to this.

Most likely govmint is using it as a loss leader type of promotion. They're banking on the fact that some people will either order more at a higher price or other products, but they also now have all your information for future advertising and to sell to other advertisers which is where the real value of the promotion for them lies.

 

That's scary as the devil.

 

US Mint sells Silver Eagles for $2 over spot to authorized dealers.

 

Remember that the silver they bought to mint the coins was purchased last year when silver was a couple dollars lower. So... Anticipate price increases in 2017 on ASE's.

 

Makes you wonder, if the United States government, in the form of the Bureau of the Mint and therefore the Treasury Department of the Executive branch does NOT want to be sitting on silver, why do coin people and silver stackers? Hmm?

 

Nice! UPS came today

 

Who would ever think the U.S. GOVERNEMENT , in the form of the Bureau of the Mint and therefore the Treasury Department of the Executive branch knew what the hell they was doing anyways.. as what I have read and watch the last couple of months.. Who is right or wrong? 50/50 ?

 

Exactly what I was thinking, lol.

If we choose to invest in silver and gold, so be it. Whatever makes US happy, individually, is what matters. We can spend our money however we choose. If you're not a fan of the metals, move along and leave us be. It is just us exercising our freedom of personal choice.

 

A nice start to my Christmas and special occasion shopping, too.

 

Because "government efficiency" is an oxymoron.

 

Is market speculation through "sitting on silver" anywhere in their purpose?

I suspect they forecast how much silver they will need to meet production demands and they purchase that amount. I don't think it would fly if the person making that forecast told their approval authority "I think silver is undervalued right now, so we should buy twice as much silver as we need to meet our production goals."

 

Yup, confirmed. From the US Mint web site:

• United States Mint's Authorized Purchasers are charged the price of silver plus $2.00 per coin premium.
• Minimum ordering requirement: 25,000 coins

I "suspect" the "price of silver" they refer to is the current price of silver, not the price at which they purchased the silver.

Does anyone know if the list of "Authorized Purchasers" is available to the public? (Note: The US Mint does provide assistance in locating bullion retailers, but that is not the same as "Authorized Purchasers")

 

They use to have the full list on their web site. I cant seem to find it now... The places that you could actually buy from are pretty well known, Provident, APMEX, JMB, etc. There were a lot smaller operations and some big firms that didn't have retail fronts to buy from, likely large volume brokers.

 

Yeah, I thought I had seen the list before too. Now all I can find is a list of 11 "Authorized Purchasers" from 2010 and the US Mint's search page to find bullion dealers up to 100 miles away from any particular point in the US.

Apparently the US Mint no longer makes that list available to the public. Some people seem to be working on getting an FOIA request together to obtain a current list. Sounds like fun!