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 Replies: 59 / Views: 7,915 |
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New Member
United States
29 Posts |
.75 ounces of .999 gold, but the price of gold/oz is now $1228 an ounce.
I understand premium, but I also see it now stands at nearly a $319 premium?
Does the mint reprice to reflect a strong dollar?
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Bedrock of the Community
Australia
21786 Posts |
The Mint is just pricing the product for what they think the market will bear, relative to what it costs them to produce, package and market it for, for greatest profit to the stakeholders. That's why large businesses employ cost accountants.
The stakeholders in this case are the U.S. Taxpayers.
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Pillar of the Community
United States
1228 Posts |
$1400-$1800 is a fair price for pr 70 er fs cant wait for the 4 coin silver set 10/28/2014
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CCF Master Historian of USA Commemoratives
 United States
12250 Posts |
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Does the mint reprice to reflect a strong dollar? The Mint reviews the prices for its gold and platinum products on a weekly basis and makes changes, if necessary, based on the spot price of each metal. Here is the pricing grid used: http://catalog.usmint.gov/wcsstore/...cingGrid.pdfCollecting history one coin or medal at a time! (c) commems. All rights reserved.
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Pillar of the Community
United States
1037 Posts |
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Bedrock of the Community
 United States
12804 Posts |
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The stakeholders in this case are the U.S. Taxpayers. Why do you say that, sel_69l? The U.S. Mint is entirely self-funded by sale of its products. It receives no funding from taxpayers. edit: removed link to the pricing matrix already posted above. Edited by CelticKnot
09/13/2014 6:27 pm
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Pillar of the Community
United States
927 Posts |
As I understand the pricing strategy, the total price does increase as the price of gold goes up and decrease as the price of gold goes down. But the premium remains the same (pretty high, I think). This might be one to wait for the secondary market and the initial frenzy to die down. Then it may be possible to get this coin closer to the actual bullion price.
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Bedrock of the Community
United States
12804 Posts |
I'd be surprised if that's true, perfessor, but it's anyone's guess I suppose. The mintage numbers will end up being pretty low. Sales have stalled.
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Bedrock of the Community
United States
17884 Posts |
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Why do you say that, sel_69l? The U.S. Mint is entirely self-funded by sale of its products. It receives no funding from taxpayers. Well the profits turned over to the Treasury General Fund (In theory) reduce the taxes the tax payer have to pay. |
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Bedrock of the Community
United States
12804 Posts |
In theory? Why would the U.S. Mint have to do that if they're self-funded?
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Bedrock of the Community
Australia
21786 Posts |
The U.S. Mint would have been set up originally, and subsequently developed over the years, with funds supplied from the by U.S. Treasury. Indirectly, the U.S. Taxpayers own it. They should be the beneficiaries of any profits and liable for the losses (if any).
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Pillar of the Community
United States
3755 Posts |
It is a business and thats it. It is not owned by the taxpayers. And as a business they set their prices and people choose to buy or not. If you dont like the price, dont buy.
As for the thought that a UNIQUE coin should only be melt value...REALLY? So they should charge the same for a UNIQUE proof coin as you would for a 3/4 ounce blob of gold. Thats just ridiculous.
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Moderator
United States
187446 Posts |
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In theory? Why would the U.S. Mint have to do that if they're self-funded? The Mint takes nothing from the Treasury (self funded). The Mint gives its profits to the Treasury for deposit into the General Fund, which should reduce the tax burden (the theory, because we all know how government accounting really works). |
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Bedrock of the Community
United States
17884 Posts |
My comment was poorly worded, Jbuck cleared it up. The in theory portion referred to it reducing the tax burden.
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New Member
 United States
29 Posts |
I love the debate... as we all watch gold and silver take its usual hit with a strong dollar. The mint has reduced the Kennedy to $1202, which seems more in line with current markets... it's just when to find the point of upward curve.
Anyone care to make a guess? Mine would be $1,100/oz for gold. Or does the mint pull production and keep the mintage low? There has to be excess, though... the way government works.
Edited by depositBox
09/18/2014 10:44 pm
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Pillar of the Community
United States
3755 Posts |
So, my wife, VACookey, being the awesome DTP she is, was part of the team that won a couple really BIG contracts for her company. She got a whopping bonus for her great work. She REALLY is good at it. I have watched her got at a crappy document and make it look like gold. Which brings me around to...
We will be ordering my gold Kennedy today!!! Wahoo!
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Replies: 59 / Views: 7,915 |
Posted 09/12/2014 7:46 pm
