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The mint's increasing markup on bullion gold eagles
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<p>[QUOTE="SoaringEagle, post: 1092568, member: 27768"]Hey Ted,</p><p><br /></p><p>First of all, welcome!</p><p><br /></p><p>Ok I get what you are saying and I do not like the markup either, but I think you may be comparing Apples to Oranges. First you have the circulating coins that are produced in a high speed press at 800 coins a minute with probally less than 1 guy running it (I am guessing that one employee could keep an eye on more than one press at a time) VS and I will quote from the mints website here...."a specialized minting process, which begins by manually feeding burnished coin blanks into presses fitted with special dies. The coin is struck multiple times so the softly frosted, yet detailed BLAH BLAH BLAH... you get the point <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie1" alt=":)" unselectable="on" unselectable="on" /> . So there is A LOT more labor involved in just making the bullion coin. Now lets mention Security, Sourcing the metals and the hedging needed. That all is going to cost major money. Remember the Mint has to at least break even, by law! So bottom line, do I think that they could do a better job? OH YEAH!!!!! For sure man! Do I think they are totally ripping us off? Not so much. Just my two cents.[/QUOTE]</p><p><br /></p>
[QUOTE="SoaringEagle, post: 1092568, member: 27768"]Hey Ted, First of all, welcome! Ok I get what you are saying and I do not like the markup either, but I think you may be comparing Apples to Oranges. First you have the circulating coins that are produced in a high speed press at 800 coins a minute with probally less than 1 guy running it (I am guessing that one employee could keep an eye on more than one press at a time) VS and I will quote from the mints website here...."a specialized minting process, which begins by manually feeding burnished coin blanks into presses fitted with special dies. The coin is struck multiple times so the softly frosted, yet detailed BLAH BLAH BLAH... you get the point :) . So there is A LOT more labor involved in just making the bullion coin. Now lets mention Security, Sourcing the metals and the hedging needed. That all is going to cost major money. Remember the Mint has to at least break even, by law! So bottom line, do I think that they could do a better job? OH YEAH!!!!! For sure man! Do I think they are totally ripping us off? Not so much. Just my two cents.[/QUOTE]
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