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 Replies: 23 / Views: 6,455 |
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Pillar of the Community
United States
1285 Posts |
I am glad they stopped it to "investigate" who did what. One name has come up quite a bit already and I hope they yank their license.  The "fine print" on being authorized US mint dealer is to maintain a fluid market with a "minimal" bid ask spread (something like 5%). |
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Pillar of the Community
United States
1027 Posts |
They can still sell them all to the National Park Service, who can, in turn, sell them in small quantities at a reasonable price. This would make it hard on dealers because you have to physically go to the park stores to get them (or maybe mail order with a one coin limit). This is probably the only way to get them out at a reasonable price to a lot of people. Fortunately the other 27,000 are already set to go out through the website at standard uncirculated markup and hopefully a one coin (of each type) per household. If they are smart, they will release the five coins on five different days.
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Bedrock of the Community
United States
17884 Posts |
Quote:
One name has come up quite a bit already and I hope they yank their license. But the one company that has come up most of the time and caught so much flak actually has been offering them at pre-sale prices LOWER than some of the other ones. Quote:
They can still sell them all to the National Park Service, who can, in turn, sell them in small quantities at a reasonable price. But why would the Park Service, which is probably always short on money, sell them for a low price when the market value is $1400? If they did sell for a low price you can bet the major players would send buyers there or hire locals to stand in line and buy sets, then get back in line to buy more and keep doing so until they were gone. Dealers did that with the UHR double eagles at the ANA last year. The mint was selling them at the show for issue price and the market price was several hundred dollars higher. Dealers were hiring collectors to stand in line to buy sets for them. |
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Valued Member
United States
364 Posts |
Hey, I've an idea -- abandon this ridiculous distribution system and, you know, SELL TO THE PUBLIC. Join the 21st century then sell directly through your website. When the product sells out at whatever price you think is reasonable, then it's tough tamale for everyone else, and the market will set the price.
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Pillar of the Community
United States
1406 Posts |
Thank goodness! I called the company selling them on Friday, they said call back Monday. Then they put them on sale at 6pm the same day. I spent hours trying to order online and couldn't. then they were sold out. What a cluster f$^@!
I called every dealer I could and everyone just said unavailable, or my order would not meet their minimums. What a ride it all was to try and get these things. I'm glad I will get another shot at it, hopefully.
The really sad part is that I have had $1000.00 sitting in an account since January that I want to invest in silver. Read about the 5 oz'ers and though, 'I'll wait for them! That will be a good way to invest in silver over the next ten years or so.' If I had only just bought $1000.00 in silver instead of waiting for the darn things!
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Pillar of the Community
United States
958 Posts |
They can mint them in december 500,000 release/sell all next in 2011 year for the 2010
they still have the 09 Territories quarters for sale on there website her almost a year later
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Pillar of the Community
United States
1285 Posts |
Quote:
But the one company that has come up most of the time and caught so much flak actually has been offering them at pre-sale prices LOWER than some of the other ones. I do not see how that changes what has already transpired / known facts. |
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Bedrock of the Community
United States
17884 Posts |
Quote:
Hey, I've an idea -- abandon this ridiculous distribution system and, you know, SELL TO THE PUBLIC. Join the 21st century then sell directly through your website. Sure, go talk to your Congressmen and Senators and se if you can get new legislation introduced and passed by both the House and the Senat and signed into law to allow them to do that. Better hurry you only have about two weeks to get it done. Quote:
They can mint them in december 500,000 release/sell all next in 2011 year for the 2010
they still have the 09 Territories quarters for sale on there website her almost a year later Except the law that authorized the hockey puck says they have to be sold during the year that the circulating quarters they are copies of are released. So the 2010 hockey pucks can't be sold after Dec 31st. The Territories quarters didn't have that restriction. Quote:
I do not see how that changes what has already transpired / known facts. Well it's just that if you are going to pull the license of the one that gouged the least you're going to have to pull the licenses of all the others as well. Now you have no distributors and the law requires you to sell through the distributors. So once again you can't sell them. Oh and as a secondary effect, since you now have no distributors that also means no bullion gold, silver, or platinum eagles either. Edited by Conder101
12/09/2010 1:16 pm
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Pillar of the Community
 United States
524 Posts |
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Moderator
 United States
188213 Posts |
I am so very glad that I have no interest at all in these. I like my quarter dollars to be quarter-dollar-sized.  |
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Pillar of the Community
United States
921 Posts |
Do the new rules make all the presales void?
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Pillar of the Community
United States
1285 Posts |
Quote:
The "fine print" on being authorized US mint dealer is to maintain a fluid market with a "minimal" bid ask spread (something like 5%).
I had brought this point (Fine Print) up on my original reply to this post and is a worthwhile read on what the mint HAS to say on the re release of these coins. |
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Pillar of the Community
United States
1285 Posts |
Conder,
In this day and age of with computers and technology a lot CO's are getting rid of the middle man so to say and moving forward. Yes, selling the large quantities on bullion would be tough but the Mint can / should be able to sell directly to the public if they choose to. The law would have to be changed and it's not a big deal.
No matter what anyone says as what happened was witnessed by a few thousand folks who followed it closely. Situation like this will prompt legislators to change the legislation.
Edited by Ceylon62
12/10/2010 06:42 am
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Pillar of the Community
United States
958 Posts |
eazy solution , the u.s mint hires a processing company to handle the orders and shipping
or exapnd the one they already have
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Pillar of the Community
United States
1027 Posts |
The mint already farms out all order processing and fulfillment. Pitney-Bowes Government Services (PBGS) warehouses the products, and takes orders and ships the products that the mint sells directly to the public. They started early last year and were the source of the fulfillment fiasco on the UHRDE. They have improved only marginally since then and after almost two years on what is believed to be a five year contract, I don't see them getting any better at what they do anytime soon. One would think that a for profit company that specializes in order fulfillment could ship from stock in a day or two, not the week or two that PBGS currently strives to achieve.
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Replies: 23 / Views: 6,455 |
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Posted 12/08/2010 10:59 am
