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Mint Halts Sale Of 5 Oz Silver.

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Conder101's Avatar
United States
17884 Posts
 Posted 12/09/2010  1:14 pm  Show Profile   Bookmark this reply Add Conder101 to your friends list Get a Link to this Reply

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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BluesZone's Avatar
United States
524 Posts
 Posted 12/09/2010  5:25 pm  Show Profile   Bookmark this reply Add BluesZone to your friends list Get a Link to this Reply
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jbuck's Avatar
United States
187702 Posts
 Posted 12/09/2010  5:34 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
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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RPT's Avatar
United States
920 Posts
 Posted 12/09/2010  5:43 pm  Show Profile   Bookmark this reply Add RPT to your friends list Get a Link to this Reply
Do the new rules make all the presales void?
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Ceylon62's Avatar
United States
1285 Posts
 Posted 12/10/2010  06:32 am  Show Profile   Bookmark this reply Add Ceylon62 to your friends list Get a Link to this Reply

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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Ceylon62's Avatar
United States
1285 Posts
 Posted 12/10/2010  06:39 am  Show Profile   Bookmark this reply Add Ceylon62 to your friends list Get a Link to this Reply
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
Pillar of the Community
United States
958 Posts
 Posted 12/10/2010  09:10 am  Show Profile   Bookmark this reply Add coppertop5150 to your friends list Get a Link to this Reply
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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clairhardesty's Avatar
United States
1027 Posts
 Posted 12/10/2010  10:21 am  Show Profile   Bookmark this reply Add clairhardesty to your friends list Get a Link to this Reply
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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