2019 APdE $2950 when spot is $2107, what's up with that US mint?

Discussion in 'Bullion Investing' started by longarm, Apr 3, 2020.

  1. longarm

    longarm Just another Jewish Carpenter

    Just saw on the mint's website that they're asking $2950 for last year's palladium eagle, when the paper/spot price is $2107 (7:30 am 4/3/20). I guess that's price gouging at it's finest, or is it just their way of shutting out the little guy? So what's up US Mint?
     
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  3. ToughCOINS

    ToughCOINS Dealer Member Moderator

    It's not the Mint . . . it's Congress. They can't figure out how to get re-elected without promising to spend more than they take in. Best to just walk away and let them dig deeper in someone else's pockets . . .
     
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  4. longarm

    longarm Just another Jewish Carpenter

    Message from United States Mint Director David J. Ryder
    Dear Valued Mint Customer,

    As the global impacts of COVID-19 continue to evolve, my top priority remains the health, safety, and well-being of the Mint workforce – the men and women who work hard to ensure you receive the highest quality products.

    As part of the Federal workforce we have and will continue to follow all guidance provided to the Federal Government, to include the information provided by Centers for Disease Control and Prevention. As we do this, the decisions I make will undoubtedly impact the on sale dates, availability, and delivery of some of our numismatic products, and you may also experience longer wait times when calling our customer service number. It is because of this that I ask for your patience and understanding during these unprecedented times.

    I encourage you to use the United States Mint catalog site https://catalog.usmint.gov/ as your primary source of the most current information on product and service status.

    Thank you for your patronage and continued dedication to the United States Mint. Please do all you can to be safe, stay healthy, and to keep others safe. We are all in this together, and we will get through it together.

    Sincerely,

    Dave
     
  5. longarm

    longarm Just another Jewish Carpenter

    Their premiums on the platinum coins are only $577 ($1295 an oz) over spot, much better than the $843 for palladium, but still "What are they thinking"?
     
  6. Inspector43

    Inspector43 72 Year Collector

    I just hate it when any, that is any business states that their highest priority is safety, blah, blah, blah. Every business has one priority - make money. All the other stuff is just to stay in business and make money.
     
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  7. slackaction1

    slackaction1 Well-Known Member

    Its always been profits first safety last...until someone gets injured.. they talk the talk but don't walk the walk.... seen this first hand..
     
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  8. gxseries

    gxseries Coin Collector

    I worked at a site where fatality did occur. If anyone dares to say profits first over safety - one might as well sign a death wish. I didn't know the person personally, but it could easily have been a good friend / mate / buddy / relative etc. It was a good wake up call for me.

    It does not hurt to take safety precaution especially when people are edgy and nervous just to walk out of the door these days.
     
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  9. Jeffjay

    Jeffjay Well-Known Member

    It's always been that big business makes the money and the little guy pays for it. Provide interest-free loans for major corporations and provide loans at 3.75% for the little guy.
     
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  10. Inspector43

    Inspector43 72 Year Collector

    I didn't say safety was not a good idea and that companies don't practice and enforce it. I simply said that it is hypocritical to always come out and say that when something happens.
     
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  11. gxseries

    gxseries Coin Collector

    That I agree. The very company that I worked at preached about safety - next minute had managers publicly embarrassed people for not performing.

    That fatality just wrote off everything for the year.
     
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  12. longarm

    longarm Just another Jewish Carpenter

    I just checked Apmex and their price for a 2020 gold eagle if you buy just 1 using a check includes a $217.50 premium.
     
  13. chascat

    chascat Well-Known Member

    PD was sold out a few weeks ago at the mint while spot prices soared and the Mint was caught with bullion on a down turn in the market, kinda like Apmex and others selling silver at a $10 premium...no one wants to loose in rocky markets. Supply and demand dictates pricing, and buyers are out there. I expect these unusual price swings to continue until markets stabilize.
     
  14. longarm

    longarm Just another Jewish Carpenter

    Don't get me wrong, I have all I need. I'm thinking about all those folks out there scrambling to try to save what they can, I wonder how many of those unemployed folks are wishing they had a stack right now.
     
  15. Collecting Nut

    Collecting Nut Borderline Hoarder

    It's 2020 and the US Mint no longer produces the 2019 version. Therefore they cost more as supplies are limited. You gotta think like the government.
     
  16. -jeffB

    -jeffB Greshams LEO Supporter

    Yeah, but hitting myself in the head that hard hurts...
     
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  17. Collecting Nut

    Collecting Nut Borderline Hoarder

    A government employee wouldn't even think of hitting themselves in the head. Lol
     
  18. Inspector43

    Inspector43 72 Year Collector

    We were a 55,000 employee company. At one plant we had a 2 million man hour without an accident meeting. The CEO was there with 900 employees in attendance. They gave everyone a real nice Swiss Army pocket knife. During the meeting 3 people were taken to the hospital for serious injuries from playing with the knives.
     
  19. Collecting Nut

    Collecting Nut Borderline Hoarder

    I'm sorry but that's funny. Hope you understand what I'm saying.
     
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  20. longarm

    longarm Just another Jewish Carpenter

    We have a saying for folks like that, "You can't fix stupid".
     
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  21. longarm

    longarm Just another Jewish Carpenter

    Does that mean the 2020's are going to be cheaper? Thinking like the government says no.
     
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