What do dealers pay for Silver Eagles from the Mint?

Cheech9712 · Jan 16, 2024

andrew289 said: ↑

I got one green monster box in January of 2006 and 2007 and played this game for those 2 years. Each year, I made about $8,000-$9,000 profit off each box.

In the end it was to much work for one man so I gave it up but for stores with a couple employees who order 8-10 boxes each year. It could pay the mortgage.

I seem to recall that I averaged about 80-90 FSMS70's and about 180-200 FSMS69's per box each year. Selling the FS70's pretty much paid for the box/grading and the rest was gravy.
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Great effort. Solid answer

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Cheech9712 · Jan 16, 2024

GDJMSP said: ↑

I believe there are 14 presently qualified and approved by the mint. Not very long ago it was only 7.

Regarding the comment about dealers making their money by playing the grading game with bullion coins. It is true that there are plenty of dealers who do this. But the vast, vast majority of all bullion coins are not submitted for grading. Only the tiniest percentage of them are ever submitted, probably 1% or less. The rest of them, 99% are sold without ever even being looked at by the dealer or the buyer because they are sold purely as hunks of bullion - which is all they are.

The way the dealers manage to make a profit doing this is simple.

1 - they raise the price to their desired profit level and just sell them. People will buy them because they cannot get them otherwise.

2 - they simply wait for a movement in the spot price to make their sales profitable.

Neither one is hard to do given the volatility of the metals markets over the past 6 to 8 years.
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You’re like Yoda. You know alot

Cheech9712 · Jan 16, 2024

Otter said: ↑

What are the requirements to be a dealer and get dealer pricing from the US Mint?
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Don’t you have to go to school for that. Lol. Cointalk does know a lot but walk softly. Trade secrets. You got to earn them

GDJMSP · Jan 17, 2024

Cheech9712 said: ↑

You’re like Yoda
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Like says she

BobPlayer73 · Mar 2, 2024

cphine said: ↑

Ah!
Those definately do go for quite a bit of premium, but again, they'd better hope a box has a significant number of 69's and 70's. Even those don't look like they bring in THAT much. The first stikes are about $300, but the normal MS70's go between $70 and %80.
I mean, PCGS is bulk charging a minimum of $5 per coin that is submitted assuming 60% of what is sent doesn't make the required grade you want...and those that do are $10 apiece. At $5 per coin and 500 coins, we're still talking a minumum of $2500 just to get the box looked at! Am I reading their grading fee scale correctly?
At roughly a $50 premium for the MS70, you'd need 50 of them to grade that way just to make back the grading fee.
Phew! *wipes brow* Too much thinking on a Saturday!
I guess I'll just leave that to the professionals.

I really would still be interested in knowing what their original mint discount is, if anyone happens to know.
Thanks!
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They are not sending in the whole box to get looked at. They are hand picking out a few select ms70s. So they are not spending $2500

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What do dealers pay for Silver Eagles from the Mint?

Cheech9712 Every thing is a guess

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What do dealers pay for Silver Eagles from the Mint?

Cheech9712 Every thing is a guess

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