5 Oz America The Beautiful Bullion

CoinMan - This is right from the US Mint site:

"A numismatic version of the three-inch, five-ounce silver coins, also minted in .999 silver, will be available for purchase directly from the United States Mint during the first quarter of 2011."

 

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Well that is what I understood, but it looks as if that won't happen.

 

There is no way the number of authorized pieces adds up.

 

APEX's premium is $9.75 PER COIN not $9.75 per ounce. That makes a huge difference in the cost of the coins to APMEX.

DougandBeth miscalculated the percent markup. He took the difference between APMEX cost and sell and divided it by the sell price which is 29%. It should have been divided by APMEX's cost. Using his cost figure of $39.18 per ounce and the actual selling figure of $55.80 (not $55.18) per ounce, the actual percent markup would be 42%, not 29%.

If the markup is per coin and not per ounce, then the APMEX cost is $29.38 X 5 + $9.75 or $156.65 per coin. With a sell price of $279 per coin, That would make the markup 78% over APMEX's cost.

 

markup

Unbelievable and shameful price mongers .

 

Well it looks like about 26 sets have sold on Ebay for $1700~ or so each with a max of $1826 - yikes! So post here when/if other companies have their prices listed as I am eager to see how others will be pricing these.

 

I'm sorry I just have to laugh.

 

Yea. These are way overpriced. But does that really matter? Anything is worth what
the buyer will pay for it. If these werer $2K for a set you better believe there would
still be buyers out there willing to spend that much. Some people just "need" to have
them for a collecters stand point. If they want to pay for them at this price, so be it.

If your looking at value then invest in silver bars.

Myself? I do still like 1 oz rounds, a much better value. And always remember the Brits
and Canadians also have products for sale. Don't let brand USA limit your prospective.

 

the mint might be happy how apmex sell them at a very high price. the mint can also sell its numismatic version at a little bit higher than bullion. say $400.00 each. or a set of five for $2,000.00. they both win. the only way to stop them is to stop buying this one. imagine how many ASE proof at $45.95 we can buy?.

 

What I don't get is that these were supposed to be released today, not Friday. I emailed APMEX over the weekend and they said they didn't know how many they would get, what the price would be and whether they would be offering them through presale. Well obviously they were offering the sets on their website, so not sure what she was talking about. Also, most of the shops that I've called have said they don't know how many or even if they will be getting them or what the offering price will be.

I've never really watched the release of a mint product before, so not sure if all this is normal, but this is a total mess. No one knows what is going on.

 

Having watched many US Mint releases before, dysfunction and confusion are fairly standard. The release of the First Spouse gold coins (technically classified as bullion, but sold by the mint) in 2007 started out with a subscription offer before the coins were released. After a stampede of customers took out subscriptions, the mint cancelled the program (without informing the customers) and then offered the coins as single releases. They released the first two issues (4 coins) on the same day which led to the all-time most frantic stampede in US Mint history, selling out the entire production runs of 4 coins in about 2 1/2 hours.

 

Wait, this mess isn't over yet . I'm turning my back on the U.S. Mint , and I would suggest many others may well do so too.

 

Its market demand, APMEX offered the first 1000 at a what they deemed a fair price and sold out quickly. I checked with gainesville this morning and they've got theirs price set at $1500 plus S&H, about $50 more than APMEX.

 

Why not just get 25 ASE's from APMEX? There at about $33 per coin right now.
That's about $825 for the same amount of Metal. You are getting a product that
is distinguisable as a .999 oz of silver at a fraction of the 5Oz coins. Beside the
collectability of them there is no other reason to own these. Of course, some may
argue that with the ASE's as well....

Personally I'm geting 2 of this years ASE's & most likley a 20 count tube as an
investment. Never know when the Fed will flood another $600 billion into world
markets. That alone should cause silver to continue to climb.

 

Very interesting - thanks for the info!

 

Who is Coinbuster60 on ebay

I was wondering who the main seller on ebay was...this Coinbuster60...anyway, given all the ANACS graded stuff in the store, I wonder if this is HSN ebay account?

Anyone know?

 

Gainesville called me a few minutes ago and they have raised their price to $1700 per set. The guy said the coins may not even make it to their web site.

 

Ok c'mon folks let's start bashing Gainesville!!!!!!!!!!!!

Now Apmex looks like hereos folks

Anyone want to apologize to Apmex or applaud them for selling these lower than anyone else?

 

my thoughts exactly

I'm they'll offer the rest of their sets at an increase, but at least they started out lower. That's why I'm not a hater

 

Neither look good....my business will move to others as this is a bullion issued coin being sold at collector values by bullion dealers....matter of principle.