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Does The Mint Set LCS Prices For 2012 ASE?

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Berk's Avatar
United States
148 Posts
 Posted 12/11/2012  8:12 pm Show Profile   Bookmark this topic Add Berk to your friends list Get a Link to this Message Number of Subscribers
Both coinshops in my town sell 2012 ASE for $38.95 while older ones sell for $3.50 over spot at the one, and the other never seems to have ASE. This is going to sound like a dumb question, but do they sell 2012 at $38.95 because theyre required to or is it just a coincidence that its the same price at both places? Every time I go 2012 are the that $38.95 price regardless of if silver is up or down.
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tpg22's Avatar
United States
919 Posts
 Posted 12/11/2012  8:16 pm  Show Profile   Bookmark this reply Add tpg22 to your friends list Get a Link to this Reply
The two stores I buy from sell all ASE's (except for low mintage coins) for $3 over spot and $10 over for slabbed MS69's). There is no requirement to sell for a given amount. I do know that the 2012's are selling fast. People can't get enough silver right now. Both of my LCS are out of that year.
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Williamsonj320's Avatar
United States
538 Posts
 Posted 12/11/2012  9:04 pm  Show Profile   Bookmark this reply Add Williamsonj320 to your friends list Get a Link to this Reply
No, the mint does not set the price for coins for LCS. But the premiums for ASE are fairly even across the board at most LCS from my experience so it's not unusual for both of your LCS to have the same prices.
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basebal21's Avatar
13014 Posts
 Posted 12/11/2012  10:41 pm  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply
The mint sells the bullion ASEs slightly over spot to distributors. Theyre all free to sell them for whatever they want at that point. Theyre so readily available though prices are usually pretty close. Places like provident get them directly from the mint which is why they can sell them cheaper as well
Valued Member
United States
66 Posts
 Posted 12/12/2012  10:43 am  Show Profile   Bookmark this reply Add Rounder to your friends list Get a Link to this Reply
My LCS shop sells currant date ASE's at spot +$8 and all previous dates are spot +$5.
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blackjack's Avatar
United States
386 Posts
 Posted 12/12/2012  7:19 pm  Show Profile   Bookmark this reply Add blackjack to your friends list Get a Link to this Reply
My LCS is selling ASE's for $38.50 tonight. Spot is around $33.30.
On a side note: these guys have money and I was told by another dealer that they were sitting on a quarter of a million dollars worth of ASE's back in 2007.
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Berk's Avatar
United States
148 Posts
 Posted 12/12/2012  7:26 pm  Show Profile   Bookmark this reply Add Berk to your friends list Get a Link to this Reply
If they're sitting on $250k of ASE then at least you know they believe in what they sell!
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