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 Replies: 8 / Views: 1,271 |
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Pillar of the Community
United States
1254 Posts |
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Valued Member
United States
379 Posts |
May have to take advantage of this  |
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Pillar of the Community
United States
2543 Posts |
So the APs only have to fork over $1.7 mil to get 1000 Buffalo that apparently nobody wants ?
Sounds like a deal to me, where do I sign up ?
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Pillar of the Community
 United States
1254 Posts |
I'll take the Buffalos, just not forking over the 1.7 mil :) I assume whatever the APs don't pick up then the coins are melted for future coins, is that how this works?
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Pillar of the Community
United States
2543 Posts |
I think they are commissioned to a certain mintage they have to maintain. The extras get warehoused unless some committee authorizes them to do something else with them. They store them right next to the billion or so Presidential dollars they can't get rid of. Edited by denco7
01/29/2013 3:46 pm
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Bedrock of the Community
13014 Posts |
While they may be able to get them at a discounted price I doubt any will actually be sold for lower than normal
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Pillar of the Community
United States
1116 Posts |
Discounts have been offered by the U.S. mint for years and are nothing new. In fact if you owned a coin shop by purchasing certain numismatic coins in quanitity you also would be eligible for a 5% discount plus shipping and handling charges. You have to meet certain eligibility requirements with being a coin shop as one. Hoever, even so I don't think that I could think of one coin shop that would be willing to purchase 200,000 quarters. However, other numismatic coins could be very popular with a coin shop doing a group purchase with one or two other coin shops. In fact, if I could talk my coin shop into cooperating with me, I'd do a group purchase with them. However, not on the quarters. http://www.usmint.gov/bulk/ |
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Pillar of the Community
United States
3755 Posts |
And also notice that is only a buck on the 5 ouncers and .6% on the gold. Which in volume makes a difference, but not in any way going to be passed on. It simply makes it a little cheaper for the APs to buy 500 or 1000 coins. As ghost said, this is not the first time this has been done, nor will it be the last.
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Bedrock of the Community
United States
17884 Posts |
Quote:
Discounts have been offered by the U.S. mint for years and are nothing new. On some coins and sets yes, but never on the bullion. I'm not surprised they are doing it though. This is 2013 and they are still sitting on 2011 stock? Usually what they do in January is force the AP's to take part of their orders in the remaining stock from the previous year. AP orders 25,000 oz of 2013 ASE's the mint says 12,000 have to be 2012's. |
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Replies: 8 / Views: 1,271 |
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Posted 01/29/2013 3:32 pm
