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 Replies: 38 / Views: 4,031 |
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Pillar of the Community
United States
2231 Posts |
Edited by livingwater
09/02/2022 09:34 am
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Pillar of the Community
United States
5611 Posts |
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Pillar of the Community
United States
5611 Posts |
Any Updates ?  |
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Pillar of the Community
United States
1613 Posts |
It's that guys fault. That'll be the Mint's reply.
ANA member - PAN Member - BCCS Member There are no problems only solutions - the late, great John Lennon
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Pillar of the Community
United States
5611 Posts |
If a Congressman can Not get answers, Who can...  |
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Pillar of the Community
United States
838 Posts |
Congress can certainly ask, but the Secretary has absolute discretion in this matter:
"(e) Notwithstanding any other provision of law, the Secretary shall mint and issue, in qualities and quantities that the Secretary determines are sufficient to meet public demand, coins which..."
So the Secretary has the final word on quantities minted.
I hope we get an extensive and reasonable answer, but I doubt it. I suppose we'll hear vague descriptions of limited supply chain and labor shortages.
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Pillar of the Community
 United States
2231 Posts |
Yes but I think many feel the mint is not meeting public demand as per law.
Edited by livingwater
09/11/2022 5:11 pm
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Bedrock of the Community
United States
10034 Posts |
Quote:
Yes but I think many feel the mint is not meeting public demand as per law.
We are experiencing all sorts of things not meeting demand...current trend. |
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Pillar of the Community
United States
838 Posts |
@livingwater -
Yes, certainly that was the point of the article, but Congress granted the Secretary authority to determine whether the quantity (and quality) is sufficient.
In effect, they put the fox in charge of the henhouse. As written, the Secretary is NOT violating the law if she says she's not violating the law...
We can complain all we want, but the Secretary's word is final. Mr. Mooney's letter might instigate a hearing, but that's a long step shy of changing the law.
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Pillar of the Community
United States
5611 Posts |
Long Over Due Answers........  |
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Bedrock of the Community
 United States
12819 Posts |
As much as I like ASEs, I feel that our elected officals have bigger fish to fry.
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Valued Member
United States
378 Posts |
Current market price of $36.00 is on the low side for ASE, I wouldn't say the BU is in "high demand" at that price. It seems logical to me, the bullion planchets should go where the demand is needed, to collector issues, which is where the mint makes their margin. Who wouldn't want 200% versus 100% margin in their own business? |
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Bedrock of the Community
Australia
21786 Posts |
I suspect that the US Mint cannot find a way of making blanks for Itself that are cheaper than from outside suppliers.
Now, the US Mint has dug a 'hole' for itself.
Under the current circumstances, I don't think the Congressman is going to get much of a satisfactory answer.
Public Servants around the World are very skilled at kicking the 'can' down the road.
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Pillar of the Community
United States
5611 Posts |
Kicking the can. They have left the Best Interests of America .Destroying Our American Values, Daily............1792, Lets mint coins !!!!!!!  |
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Pillar of the Community
United States
2231 Posts |
While many are not buying ASE due to high premiums, they are being sold. Some with the funds are still buying them. My LCS is selling them and has been ordering more with some delay. The mint's low mintage this year is contributing to higher premiums IMO. I haven't heard of the other major mints, Canada, Britain, etc. having problems with planchet shortages or less availability of their bullion. By the way, the same congressman, Mooney, who wrote the letter also introduced a bill to end capital gains taxes on gold/silver coins, bullion: https://mooney.house.gov/congressma...-and-silver/Edited by livingwater
09/12/2022 11:57 am
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New Member
United States
49 Posts |
I worked for a federal agency that couldn't have cared less when an individual congressman came to it with some demand or question.
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Replies: 38 / Views: 4,031 |
Posted 09/10/2022 08:06 am
