A T B 5oz Coin Launch
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2010 First year of issue 3"5oz Bullion Versions ((Sold Out)) on April 20th 2011 Mintage 33K Sets
1.MTB of NY $930 shipped
2.Fidelitrade of DE $930 shipped
3.The Gold Center of Ill $975 Man power employment services dominated the crowd.
4.A-Mark of CA $975 shipped ((Slabbed PCGS F/S Choice BU ))
5.Apmex of OK $860 shipped ((Second Round of sales Slabbed PCGS F/S BU or Better)) $980 Shipped C/C $1,008.75 Shipped
6.Jack Hunt of NY $949 shipped Air Tites add $14 ((If your Check was lost you could resend it For a PCGS MS-68 Set))
7.Dillon Gage of TX $937 + $25 wire fee ((Second round of sales included two A.S.E.TX Residents Only $1,037 Shipped & NGC Gem Bu Sets))$1,159 Shipped
8.Prudential of NY $862.70 + S/H ((Storage Complicated ordering processes))
9.Coins-N-Things of MASS $930 + $170 ((For $6 Face Value in 90% Silver 12 Barber Half's)) $1100 shipped
10.Scotia Mocatta of NY ((No participation))
11.Commerzbank of NY ((No participation))
First day of sales 12/3/2010 Silver Spot $29.00 Last day of sales 4/20/2011 Silver Spot $46.00
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Views: 202
Replies to This Discussion
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Permalink Reply by Clair Alan Hardesty on -
I do intend to try and get 1 of each for my long term collection, not as a short term investment. I do not yet know if I will go for the bullion or uncirculated or both versions. It looks like the bullion ones are going to cost the authorized buyers about $155 each to start with but what we don't know is what the markup will be. At that price, I would expect the unc version to start around $200 if silver stays under $30 until they come on sale. The mint will probably have to index the price because of the size, just like they do with gold. The 2010 coins will be the key for a while because of the limited mintage of 60,000 per coin (27/33 split). Because of the low mintage and what is expected to be high collector demand, I do not see the 2010 bullion versions being purchased by silver investors, only collectors. The price of the 2010 bullion coins will most likely match the mint price for the unc versions until supplies arrive in the 2011 coins.
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Permalink Reply by Buffalo on -
I think the lower than expected mintage for the bullion coins will make these targets for speculators looking to buy them and resell for a quick profit. I think they will sell out almost immediately when they become available to the public, and after market prices will immediately jump. The same will probably be true for the collector's versions when they are released. With the mintage being so low, there is a good chance the intial premiums on sales to the public will be higher than we have seen with the bullion silver Eagles. I won't be surprised if the bullion initially are pushing $200 and the collector's version issued at $230 or so if silver stays close to where it is now. The thing that really surprises me is the Mint is intentionally setting up a situation that will encourage speculation for profit by what looks to be low supply for anticipated demand. The Mint normally tries pretty hard to avoid that, and the inability to fully meet demand has been given previously as the reason to cancel issues, so I am surprised they are diverting blanks from the bullion issue for the collector's version now. The mintage of 60,000 per coin when 100,000 blanks per issue were previously ordered also seems to indicate some serious minting problems remain. Apparently the Mint only expects to produce usable coins from 60% of the blank order they had previously announced. It's possible the order was reduced but nothing has been announced saying so that I know of, and the Mint has commented on production problems.
It will be interesting to see how it all plays out, and how long collector interest and demand supports high prices if the speculation plays out like I think it will.
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Permalink Reply by Clair Alan Hardesty on
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I would not be surprised to see the authorized buyers sell their coins at a slow pace, waiting for the UNC versions to arrive and sell out. Since they buy the ATB water skippers in 100 coin boxes, they stand to make a good profit if they wait for prices to peak before letting their stashes out. If it were me, I would keep "running out" of stock just to see where demand takes the price. If the two versions were coming out together, it might be a little different. I just don't see any of the 2010 coins being anything but numismatic pieces, I don't expect any of them to sell at bullion prices. The authorized buyers are the winners here, they get the coins at spot plus $9.75 per coin, slightly less than the current margin on SAEs which comes to $10.00 on five ounces. I am also not convinced that the mint will stop minting the 2010 coins at year's end. The mint mint often mints coins that have next year's date (2008 proof SAE) and only quotes law when it supports their tack. They totally blew off a very specific law last year that requires one NA dollar to be struck for every four presidential dollars at the same time that they were saying that the bullion law prohibited them from striking numismatic coins (which it does not). If there is a law that says that they cannot post date bullion products, they will only follow it if it strengthens a position they are already taking.
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Permalink Reply by Buffalo on
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The Mint does seem to interpret the laws on a "as needed" basis at times, but the third and fourth paragraphs in the Mint's Press Release seems pretty specific. Unless they backtrack, the mintage should be as they have stated and the numismatic versions at least minted before the end of 2010. I don't know that the same law affects when bullion issues are minted, but the Mint has stated a maximum mintage for them.
Somewhere along the way I seem to remember reading that the Mint's Authorized Purchasers have agreed to make bullion coins available to the public at a reasonable markup. I don't remember the exact wording, but I remember it sounded like very high profits per coin were prohibited or at least discouraged.
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Permalink Reply by Steve on -
Someone on ebay has sold 15 of the bullion version @ $299.95 each. He has several more for sale.
Here is one example of an auction by the same guy that is currently up to $311. Auction # 320625296518
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Permalink Reply by Gem on -
Those are lower mintages than the lincoln coin & Chronicles set at 50,000 and they sold out in a little more than a day I think the real challenge will be in finding an authorized dealer that has them in stock before they sell out dont you think ?
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Permalink Reply by Clair Alan Hardesty on
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Keep an eye on APMEX, they seem to get large quantities of other bullion products. THey also have an email alert service.
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Permalink Reply by Gem on
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These are the authorized purchasers:
A-Mark Precious Metals of Santa Monica, Calif. It is authorized to purchase gold, silver and platinum.
• American Precious Metals Exchange, Inc., of Oklahoma City, Okla. Silver Eagles only.
• Coins ‘N' Things, Inc., of Bridgewater, Mass. Gold, silver and platinum.
• Dillon Gage Inc. of Dallas, Texas. Silver only.
• Fidelitrade, Inc. of Wilmington, Del. Silver only.
• Jack Hunt Coin Broker, Inc., of Kenmore, N.Y. Silver only.
• MTB of New York. Gold, silver and platinum.
• Prudential Securities, Inc., of New York. Gold, silver and platinum.
• Scotia Mocatta of New York. Gold silver and platinum.
• The Gold Center of Springfield, Ill., Silver only.
Based on my understanding of the system, all other bullion retailers are buying from the primary distributors listed above- not directly from the US Mint.
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Permalink Reply by Clair Alan Hardesty on
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APMEX is on your list as a Silver Eagle only buyer, maybe they are also going to get the new silver coin as well. Their stocks are huge, today they have almost 4000 1oz gold Eagles in stock, over 10,000 2010 silver Eagles, as well as over 10,000 Canadian 1oz silver coins. Do you know which of the others sell directly to the public in small quantities?
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Permalink Reply by Gem on
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Clair hope this helps ! http://www.usmint.gov/mint_programs/american_eagles/?flash=no&a...
Clair Alan Hardesty said:APMEX is on your list as a Silver Eagle only buyer, maybe they are also going to get the new silver coin as well. Their stocks are huge, today they have almost 4000 1oz gold Eagles in stock, over 10,000 2010 silver Eagles, as well as over 10,000 Canadian 1oz silver coins. Do you know which of the others sell directly to the public in small quantities?
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Permalink Reply by coinnetwork on -
Buffalo said:Somewhere along the way I seem to remember reading that the Mint's Authorized Purchasers have agreed to make bullion coins available to the public at a reasonable markup. I don't remember the exact wording, but I remember it sounded like very high profits per coin were prohibited or at least discouraged.
Here is the language that is the in the Authorized Purchaser Agreement:
"to maintain buy/sell premiums for the United States gold and silver bullion coins with as narrow a spread between buy and sell prices as prudent business judgment permits. These premiums are to be competitive with those charged for other bullion coins, considering prevailing market conditions."
This should keep the authorized purchasers, meaning the ten (or eleven?) primary distributors, from charging too much. But at the next levels of the distribution chain, there is nothing to prevent higher market based premiums from being used.
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