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What does the Mint do with unsold coins?
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<p>[QUOTE="John Burgess, post: 8147604, member: 105098"]if precious metals, or clad or base metal coins, USUALLY, they offload surplus to their bulk program dealers on a bidding basis.</p><p> dealer bids how man sets they will take and price they will offer, starting bid is above cost, highest bids get filled first on down to nothing. </p><p><br /></p><p>it normally would cost the mint to scrap the products and melt down whatever is surplus.</p><p><br /></p><p><a href="https://www.coinworld.com/news/precious-metals/u-s-mint-sells-older-gold-silver-coinage-to-select-dealers-in-sealed-bid-auction" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://www.coinworld.com/news/precious-metals/u-s-mint-sells-older-gold-silver-coinage-to-select-dealers-in-sealed-bid-auction" rel="nofollow">https://www.coinworld.com/news/precious-metals/u-s-mint-sells-older-gold-silver-coinage-to-select-dealers-in-sealed-bid-auction</a></p><p><br /></p><p>a dealer might buy the silver proof sets for the silver, and dump the dollar nickel and cent at FV into circulation. they might buy dozens of sets, and break them down, same goes for Home Shopping, but in hundreds, but only interested in the silver coins in the silver proof set not the clad. they are going to get for around melt in some cases, the other coins are just an extra $1.06 per set they got for silver melt from people. </p><p><br /></p><p>And yeah, if you buy a proof set and a silver proof set, you got doubles of the cent, nickel and dollar coin.[/QUOTE]</p><p><br /></p>
[QUOTE="John Burgess, post: 8147604, member: 105098"]if precious metals, or clad or base metal coins, USUALLY, they offload surplus to their bulk program dealers on a bidding basis. dealer bids how man sets they will take and price they will offer, starting bid is above cost, highest bids get filled first on down to nothing. it normally would cost the mint to scrap the products and melt down whatever is surplus. [URL]https://www.coinworld.com/news/precious-metals/u-s-mint-sells-older-gold-silver-coinage-to-select-dealers-in-sealed-bid-auction[/URL] a dealer might buy the silver proof sets for the silver, and dump the dollar nickel and cent at FV into circulation. they might buy dozens of sets, and break them down, same goes for Home Shopping, but in hundreds, but only interested in the silver coins in the silver proof set not the clad. they are going to get for around melt in some cases, the other coins are just an extra $1.06 per set they got for silver melt from people. And yeah, if you buy a proof set and a silver proof set, you got doubles of the cent, nickel and dollar coin.[/QUOTE]
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