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 Replies: 8 / Views: 2,002 |
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Pillar of the Community
United States
1205 Posts |
I see this report for Gold sales at the Mint...I don't understand...I see NO gold coins for sale on the US Mint website....anybody want to fill me in on what I'm missing here please?
February 2014 US Mint Bullion Coin Sales
Feb 2014 YTD 2014
American Gold Eagle 1 oz 22,000 84,500
American Gold Eagle 1/2 oz 3,000 15,000
American Gold Eagle 1/4 oz 10,000 38,000
American Gold Eagle 1/10 oz 50,000 210,000
American Gold Buffalo 1 oz 12,000 53,500
American Silver Eagle 1 oz 3,750,000 8,525,000
America the Beautiful Silver 5 oz 0 0
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New Member
Canada
46 Posts |
These are bullion coins. There are not sold directly through the mint, rather through dealers such as APMEX, MCM, Provident, etc. |
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Bedrock of the Community
13014 Posts |
The sales so far are the bullion coins which the mint doesn't sell directly to the public. They only sale the proof and special uncirculated versions on their web sight. So any numbers you see so far where nothings been released by the mint is the bullion sales numbers
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Pillar of the Community
 United States
1205 Posts |
Ok..thanks for clarifying...the minute I read the answers, my blood pressure went up...seems "unfair" that the "People's" Govermental Mint sells private...I'll get over it...if buying "bullion", a plain gold bar(of course, legit), would seem more "profitable", than wasting extra nusmatic value on "pretty" coins...since there are so many fake bars around, yes, one must buy from a trusted source.
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Pillar of the Community
United States
808 Posts |
Actually, I greatly appreciate the detailed numismatic features that go in to national mint bullion. Along with precise weight and size, it's those beautifully sculptured little details that help thwart the counterfeiters.
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Moderator
 Australia
16808 Posts |
Quote:
Ok..thanks for clarifying...the minute I read the answers, my blood pressure went up...seems "unfair" that the "People's" Govermental Mint sells private...I'll get over it. Every mint around the world that makes bullion coins has the same policy: you can buy collector versions of the coins direct from the mint (for a hefty premium), but the "regular" bullion coins must be acquired by the public through authorized bullion dealers. Mints are in the business of making coins, not getting involved in PM speculation and market fluctuations. The government can't create silver ex nihilo. The mints have to buy in the raw silver at the market rate. As a responsible government agency, they want to make sure they don't make a serious loss if the price crashes before the silver can be turned into coin and re-sold. So the bullion dealers - perhaps the same companies that sold the mint the raw silver in the first place - offer contracts to buy the coins at a certain price in the future, no matter what the actual price on the day is when the coins are delivered. This gives the mint the certainty they need to actually go ahead and make the coins. And the "gambling" - that the future price will actually be better than the contract price - is done by the professional gamblers - the bullion dealers - and not an agency of the government. In a sense, the distribution monopoly is not that much different to the regular circulation coinage which your mint produces. You can't just walk into Philly or Denver with a bucket and ask them to fill it up with coins straight off the presses. All bulk circulating coins must go out through the banks. Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Valued Member
Canada
258 Posts |
Well stated sap. I always wondered why I couldn't buy regular bullion coins directly from the mint.  Now I know. Much appreciated.  Edited by nickelphr33k
03/31/2014 10:05 am
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Pillar of the Community
United States
1205 Posts |
Yes, thank you sap...I'm on a "waiting list" for my gold baseball's....we'll see...
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Pillar of the Community
United States
2543 Posts |
I think the important aspect of the Authorized Purchaser network is that when the gov't first started their bullion coin program, to firstly deplete the U.S. silver and gold reserves which were basically sitting idle and more of a burden than any kind of U.S investment,and secondly to allow the public an easy way to invest in precious metals, they felt it was of essential importance to create a two way investment street. Since, as Sap said, the gov't isn't in the business of pm speculation, they made a mandatory part of the AP agreement to be the proven financial rersources to buy pm's from the public as well as sell to them. All AP's are required to post a buy price and are required to buy back pm's, to create this two way investment network.
Numismatic items from the mint nor do secondary sellers meet this requirement.
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Replies: 8 / Views: 2,002 |
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Posted 03/04/2014 8:08 pm
