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 Replies: 13 / Views: 2,808 |
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Pillar of the Community
United States
1026 Posts |
I am ordering a $50,000 dollar bulk bag from the US Mint anyone want any (JUST KIDDING) *****
just was reading coin news about the new US Mint America The Beautiful Bulk Bag quarter program. MINIMUM order of $50,000 dollar bag containing 200,000 quarters and you must have an armored carrier picked them up from either the Phil. or Denver mint by carrier?
Now what is up with this? Also $1500.00 premium per bag is this for banks? What is up who would buy $50,000 dollars of quarters for $ 51,500 WOW 200 thousand quarters must be banks but would be surprised they would pay $1500.00 over face value my bank did get roll of Hot Springs I got some from them last week.
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Pillar of the Community
United States
3098 Posts |
Where's this listed?
And isn't distributing coinage THE responsibility of our government? The government needs to do this. Otherwise, what are taxes from the people for? If they can't even get something as simple as distribution of money correctly, what can they do correctly?
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Pillar of the Community
United States
651 Posts |
Hey the bag might help with the oil spill, and the coins will pay the crews.
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Pillar of the Community
United States
672 Posts |
please tell me this is a joke...
I read it at first and though this was funny, but the more I think about it the more likley it is true...:(
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Valued Member
United States
442 Posts |
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Pillar of the Community
 United States
1026 Posts |
Front page of the new Coin World news on line. Just was reading this again it is on page 4 of the Coin World news on line. Edited by Brucec
06/16/2010 3:14 pm
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Bedrock of the Community
United States
12437 Posts |
200,000 quarters sounds about right for one of the Kevlar Ballistic Bags which replaced the old canvas face value bags. These things are quite large, the bag is attached to a steel frame in order to be moved around by forklift or pallet jack. The weight and size would be the most likely reason for a $1500 freight charge. The Ballistic Bags are the primary delivery method for getting bulk coins to the armored carriers, I do not think they have ever been publicly available until now. |
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Pillar of the Community
United States
1026 Posts |
Well so then it cost the bank $1500.00 over face value for a bag of these then I would guess they would have to pay then to get all these coins wrapped WOW that would cost them allot.
My bank did get rolls of Hot Springs quarters.
Is this how they have to get all there coins from one of the federal banks?
I always thought it cost them nothing to get coins at the federal national bank?
Edited by Brucec
06/16/2010 4:05 pm
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Pillar of the Community
United States
2734 Posts |
You see plenty of the Kevlar ballistic bag/pallets when you tour the Mint.
Brucec's bank most likely got the Quarters from the Fed,
by sheer luck of the draw. The distributions by the Fed are 'random'
(since the banks can't special order), but they do happen.
This bulk shipping program most likely delivers to large dealers such
as HSN and Littleton, who will charge their customers more than face
for the coins (so the shipping charge is not an issue).
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Pillar of the Community
United States
1026 Posts |
OK now I get it thanks I could not picture any bank paying a premium for change they get.
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Pillar of the Community
555 Posts |
One bag purchased of final lowest production quarter= corner the market.
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Pillar of the Community
United States
1406 Posts |
Think of the errors you 'could' possibly find. Imagine the press starting to go off center and you are able to put a progressive set together from say 10% to 50% over 5 coins. Or two planchets struck by one blow and you have the pair!
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Pillar of the Community
United States
1388 Posts |
there is one word for this and it's called INSANITY!!
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Bedrock of the Community
United States
17884 Posts |
Quote:
OK now I get it thanks I could not picture any bank paying a premium for change they get. The banks DO pay a shipping and handling charge premium to the armored car service when they order bags or boxes of coins. They also have to pay a S&H premium when they send coin back to the FED (via the armored car services) This is one of the reasons they don't like roll searchers that much. If they have to order extra coin it costs them more than face to get it, and if they have to much it costs them again to get rid of it. |
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Replies: 13 / Views: 2,808 |
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Posted 06/15/2010 11:24 pm
