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<p>[QUOTE=&quot;medoraman, post: 1732018, member: 26302&quot;]My only responses Mike would be ASEs are sourced as prepared blanks of certified US silver with high technical specs. Most people do not complain about the quality of circulation coinage but scream about ASE quality. Then they have to make dies for large coins on special production runs. Between all of that, and the wholesaler middleman &quot;authorized purchasers&quot; then the retailers, I am not so sure THAT much profit remains. Maybe $2 per like Woody describes is adequate for production, markups, and retail profits, but still the point is some FLAT number is simply a conversion fee. Analyzing a fixed conversion fee on an percentage basis can lead to some very incorrect conclusions. Maybe the best analysis would have both a flat and variable component, but I simply find it easiest to take a single flat number, since its my assertion most of the markup is static conversion fees. </p><p><br /></p><p>Put it this way, what would the premium on an ASE be if silver dropped to $1 on our two models, lets say it sells for $4. For me, it would be purchase price minus $1, (lets just say $3). For you, you would say its 300% markup. Lets change the price of silver to $100. My assertion is it should still be $3, but for you it would be 3% markup. Kind of different ways of looking at the same numbers, no?[/QUOTE]</p><p><br /></p>

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