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<p>[QUOTE=&quot;tedmurlap, post: 1092420, member: 29006&quot;]No, I&#039;m not forgetting. And the quote you provided has nothing to do with the middle man&#039;s markup, anyway; it just discusses the mint&#039;s markup, which is exactly what I wrote about. If gold costs $1000/oz and the mint sells a 1oz gold eagle to a middle man for $1030, it doesn&#039;t matter if the middle man sells it to somebody else for $1031 or for a million dollars. I&#039;m talking about the price which the mint sells the coin for: $1030.</p><p>Just as I wrote, your quote agrees: the mint sets its markup as a percentage of the cost of the raw metals, and dubiously claims that this just covers the mint&#039;s expenses. My point is this: if one day gold costs $1000/oz, and $30 covers the mint&#039;s expenses for a coin, are we expected to believe that if the next day speculation drives gold to $5000/oz, the mint&#039;s expenses for a coin are suddenly $150? That&#039;s absurd. If the expenses were $30 yesterday, then they&#039;re $30 today, and a coin today should cost $5030, not $5150.[/QUOTE]</p><p><br /></p>

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