Typical, they actually get people excited about things and are two successful so some other department will try and make a career bringing them down. If they actually do make substantial changes I cant wait for the investigation into why no one wants over produced mint products that immediately lose value
I seriously think they should go through records and investigate accounts that seem to always get the high demand stuff. No one should be able to get every single high demand item (like the V75 gold eagle) and the 1/10th oz Proof set and things like that. Getting lucky sometimes is one thing but if some account has managed to always get that kind of stuff it’s a red flag of potential BOT use.
It will be interesting if they can get the names of the eighteen authorized bulk purchase dealers with their freedom of information request.
It’s on their website. Theres 13, one is silver only one is platinum only and 3 are overseas. https://catalog.usmint.gov/coin-programs/bullion-authorized-purchasers.html
On these boards, when complaints about the high cost of some of the Mint’s offerings were brought up, the response has always been that it was due to the actual cost to produce the products, yet in FY 2019 they returned $540 million to the Treasury? Sounds like we have been fed a load of you know what, while getting fleeced.
That’s a nice little profit from numismatics. Now if we can get the rest of the government to stop losing money (continually running deficits, thus increasing our debt), then maybe there wouldn’t be so much disparity and division in our country.
I'm not even joking when I say this, just be happy they're still cheap compared to the other major world mints. Go look how the Royal Mint, France, or Australia prices their numismatic items especially silver and gold and the current pricing wont seem so bad
My opion the entire American government is entangled in corruption including the mint and the people in our society are nothing but sheeple to push back so to me any investigation is likely someone else looking for a backroom deal themselves and wanting a cut themselves with a little protection money.
The problem is the OIG has no teeth. They do not have the power to make the mint do anything. All they can do is issue reports and recommendations. Basically, they can tell them what they should be doing, but have no power to make that happen And as long as the treasury is getting $540 million a year, I doubt anything meaningful to us collectors will occur. They will issue the investigation findings, make recommendations, and check back in a year or two to see if any of their recommendations were followed, if not, they will do another investigation......issue findings, and check back in a year or two......see any pattern here? LOL! the paragraph from the article below says it all. Regarding Mint controls over the sales of “limited-production, investment-grade” products, the plan is “to determine if the Mint’s practices adhere to established policies and procedures designed to ensure the broadest and most fair access.” On the same subject, OIG also plans to scrutinize actions taken by the Mint relating to weaknesses identified in prior Treasury OIG checks, to see if actions adequately addressed issues noted.
