Another Of Dumb Erics' Stupid Questions

Why can't we purchase a silver bullion pieces direcly from our mint like the big boys or can well. Smells like a monopoly to me. Pardon me if I'm missing something due to my post-stroke brain!

 

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I think it has to do with quantity, but I still don't think that will get us in the door. I asked the same question about selling bullion. Why can't we skip the middle-man and deal with the same people the coin dealers deal with?

 

Well, you can become a distributor if you meet the qualifications.
http://www.usmint.gov/consumer/index.cfm?action=AmericanEagles

But most can't make it financially. It does reduce overhead for the mint, and also provides a widespread distribution. A member on the Collector's Universe forum is a distributor and takes orders for rolls when he puts in his order. The mint considers it strictly a bullion coin unlike the proofs.

Jim

 

Read your article, desertgem.

Yep, CIRELAW, sounds like a monopoly to me.

 

Wow, Thank You both so much. I wondered it they were resrticted in any way if 'sell' prices are dictated. If it smells like price fixing something is wrong. If they are set by the mint then there should have a set price one set the same by our mint based upon the daily price of the commodies. I'm sorry for asking!

 

I will, but where can I find it?

I hope I didn't open a can of worms like 'Three Days Of The Condor'

 

Thank JIM, Thanks for the clarification!

 

Hey Jim, where can I find a list of authorized dealers. Maybe some are more reasonasble than others.

 

Check out this link:

http://www.cointalk.com/t88272/

TC

 

I don't think the Mint wants to put the people and systems in place to deal with the number of orders they would have to process. It would be as if everybody called GM, Ford, Toyota, etc... directly instead of buying through dealerships. Or if everybody in the country called Kelloggs to order Raisin Bran instead of going to the supermarket.

 

If you have alot of money, You can do most anything!

 

I could be wrong, but my understanding is that there are many distributors. If so, that doesn't sound like a monopoly to me.

 

The requirements to be a distributer is way out of anyone's league. That's bad for guys like me that's trying to save a buck, but I can see where the requirements would be good. That way some rich guy can't buy a gob of these at one time and corner the market.

 

What astounds Me is they can delegate to persons or entities constitution powers such as setting prices for a portion of our mints.Is something wrong with this picture. These arent postage stamp which are sold by vendors for a set price. Am I Mistaken?

 

Well, I do believe that there are 4 main distributors, so that can't be a monopoly any more than gasoline is a monopoly. You can always go to another gas station down the block and get your gas for $.01 cheaper. See, competition is thriving.

 

Not a bad job if you can get it. PS Thanks!

 

Technically these coins are not considered "lawful money" as they have been deemed "legal tender". It's a grey area and a controversial one at that, but generally this money is considered a denomination of the Federal Reserve type dollars and thus not subject to constitutional issues.

For this to make much sense, you have to understand the difference between lawful money, legal tender and the role of the Federal Reserve which isn't covered by the US Constitution. One of the purposes for it's creation is avoidance of constitutional restrictions on money. As far as I know, there has only been one significant court case that even touches on this and the PM coins issued by the mint now and that had to do with the IRS.

 

I learn something everyday, This is truly facinating. Maybe the mint should print a disclosure of some sort. Thank You again!!

 

For the same reason most of us can't buy "wholesale"......

 

They don't by design. There is a huge amount of obfuscation taking place in regards to money because if it became common knowledge, there would be a revolution taking place. It is really difficult to understand the role of the Federal Reserve and how it changed our currency and the government isn't forthcoming about it. Prior to the internet, it was almost impossible to figure it out.

I find it amusing that people are getting so worked up on party idealogy on both sides, when they have no idea they are being robbed blind by the current currency system, and that system has no direct constitutional basis. In fact the framers were insistent that we don't establish a fiat money system. Yet here we are and most have no idea.