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 Replies: 9 / Views: 1,204 |
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New Member
United States
32 Posts |
I am fairly new to numismatics and have had A LOT of trouble finding a answer to this question. I thought it was illegal for the government to see a coin for less then face value. I see all these silver eagles that are going on ebay for hundreds of dollars a roll. I also see these Monster green boxes being sold. How are these dealers buying direct from the mint? do they get any type of discount? Thanks |
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Pillar of the Community
United States
5604 Posts |
Welcome to the forum, and the real world, yes some of the "dealers" out there get selected from the U S Mint, and receive a great deal and a "different" treatment as you and I would not, this is all in the name of promoting the almighty dollar, enjoy the collecting hobby, we have a plethora of expertise and actually a very friendly group of numismatist's and the likes, have fun and ask away!  |
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Valued Member
United States
462 Posts |
Bullion ASE are sold ONLY to a select number of qualified dealers. The qualifications are quite HIGH. So we have to buy from these qualified dealers. |
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Pillar of the Community
United States
1882 Posts |
The dealers that buy them from the mint do NOT get them for less than face value. Face value of an ASE is $1. |
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New Member
 United States
32 Posts |
sorry, I meant that I thought it was illegal to sell it for more then face value. not less. Sorry about that.
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Pillar of the Community
United States
819 Posts |
don't know the legal view on it, but they are sold as bullion, ergo...based on the price/value of the base metal..silver; they just happen to have the "one dollar" demomination and techinically could be spent as legal tender for a dollar...I would take them all day (and night) as one dollar each in payment for merchandise or services.
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Pillar of the Community
United States
1231 Posts |
There really is no legal view. I say this because take a standard mint set from 1990. You have coins made for circulation with a face value of $1.82 and a issue price of $7. The mint can always claim the packaging had a value of $5.18 and the same can go for any other year.
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Bedrock of the Community
United States
17884 Posts |
Considering the Mint is selling boxes of the president and Native American dollars AT face value and then they are picking up the shipping tab, you could say they are selling them for less than face because their net cost is less than you are paying them. As for the SAE's the authorized distributors pay $1.45 an oz over spot price for them. Minimum order is 50,000 oz at a time. So if spot is $13 the minimum order is $722,500 plus shipping. |
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Bedrock of the Community
United States
12437 Posts |
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New Member
United States
21 Posts |
WOW! Yea those are some tough requirements..
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Replies: 9 / Views: 1,204 |
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Posted 02/12/2009 1:17 pm
