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 Replies: 8 / Views: 1,562 |
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Valued Member
United States
497 Posts |
I have a dealer around me who said they get their coins in boxes for face value at the mint. I don't know if he just told me this to get me to leave or if he actually does? If he does, does he have a license or something? Thanks
Andrew
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Pillar of the Community
 United States
2448 Posts |
As far as I know, every dealer pays something over spot for bullion coins from the mint. The only program with out a premium that I'm aware of is the direct sale program for presidential and Sacagawea dollars. It is available to all but the minimum you must purchase is $250 per box for 250 coins and they expect you to circulate what you don't use. |
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Pillar of the Community
United States
2734 Posts |
U.S. Mint Circulating $1 Coin Direct Ship RollsNote that you cannot specify which Mint mark coins you will receive. For true circulation (spending) use, mint marks would not matter. "they expect you to circulate what you don't use" More accurately, they expect you not to bank-deposit any coins that you don't wish to keep. If you sell the coins at a premium (as your dealer apparently does), at least they won't be bank deposited, right? 
Edited by DNA
09/25/2010 10:26 pm
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Pillar of the Community
United States
2424 Posts |
i was told, that you could order say, $1000. But when you order, order with your credit card. then once you get the coins, pay off the card! FREE MILES!! has anyone tried this!
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Bedrock of the Community
United States
19947 Posts |
Quote:
was told, that you could order say, $1000. But when you order, order with your credit card. then once you get the coins, pay off the card! FREE MILES! has anyone tried this! Yea, lots of people did and succeeded. However, the Mint has changed the rules since then....you can't do that anymore. The party is over. LOL Lincoln Cent Lover!VERDI-CARE™ INVENTOR https://verdi.care/
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Bedrock of the Community
United States
14454 Posts |
you can also get boxes from your bank at face value but you may or may not get a full box of a certain date. You may get all dates mixed together or you may get beand new never opened all the same date box, its a take what they have kind of deal at the banks
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Bedrock of the Community
United States
17884 Posts |
You can also get the park quarters from the mint for a little over face value as well, but not boxes, Ballistic Bags. They weigh about one ton, you have to come to the mint and pick them up yourself. |
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Pillar of the Community
United States
7629 Posts |
Answering the original question in this thread... You cannot order coins from the mint unless you order through their retail sales department, for which you will pay a premium plus shipping for anything you order. You (not anyone else in the public) can order coins from the mint at face value. You can (if you have a good connection) order the coins in Ballistic Bags from the Fed. Reserve Bank, but they will cost in the thousands of dollars because of their size, and will be very difficult to transport. Your most likely source of new coins at face value would be in 50 roll boxes from your local bank. They can order boxes of coins, but there's no guarantee of exactly what will be in them. If you order 'quarters' your chances are 50-50 of there being new coins in the boxes, and those new coins could be any one of a number of issues over the past couple of years. The Fed Reserve system and the banks are NOT in the business of providing coins to collectors, so you cannot order them by design or mint. They give you what they've got. If you have to have rolls of a particular design and mint, order them from the mint and pay the extra. If you are just looking for new coins to stash back, talk to your teller and good luck to you - most banks don't deal with collectors. You order it, buy it, and get what you get. |
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Pillar of the Community
United States
7629 Posts |
Oh...and additionally...
If you do happen to get a bank to work with you DO NOT make the mistake of returning the same coins back to that same bank. They will likely not be so excited to deal with you again considering you gave them a surplus of coins to account for. IF they are willing to order for you they DO NOT want to see the coins again. Just a heads-up.
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Replies: 8 / Views: 1,562 |
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Posted 09/25/2010 10:25 pm
