Is this a cover up?! Doesn’t any body check facts or the math?!
While I don’t have access to exact LME AM Fix pricing, I can add the LME AM fix pricing for the last five days, and then divide by 5 so as to get the 5-day average.
The sum total of the AM Fixes used by the Govt is $ 5,247.25. This isn’t rocket science.
This produces an average of $ 1,049.45 and means, and the US Mint’s own PRICING POLICY states that the coin should be priced at $1,310.00 per coin and not the $ 1,360.00 it now imposes.
The Mint’s own website is clear on the policy, which is excerpted as follows from this link http://catalog.usmint.gov/wcsstore/ConsumerDirect/images/catalog/en_US/GoldCoinGrid.pdf :
“*The new pricing methodology is based primarily on the London Fix weekly average (average of the London Fix prices covering the previous Thursday A.M. Fix through the Wednesday A.M. Fix) gold prices, which reflect the market value of the gold bullion that these products contain.”
It is important to note that the PDF page downloadble as of today, differs from those previously available via download. The prior versions of this pricing grid didn’t highlight only the 1 oz proof Buffalo.
We all grew up knowing what bait & switch was. Well, it seems as if the US Mint is engaged in stating one thing about its pricing POLICY and then acting to its own interests when 55 CENTS ensured it would lose $50 per coin.
This is a fraud perpetrated by GOVERNMENT employees who have changed the policy to ‘TAKE IT OR LEAVE IT’.
FOUL! Dear US Mint, please act in accordance with your own pricing policy and remedy this situation by immediately refunding us our $50 per coin for each overcharge you wrongly imposed for purchases made during this period. Maintain such integrity and then and only then will all be well between you and us, your customers.
“While I don’t have access to exact LME AM Fix pricing, I can add the LME AM fix pricing for the last five days, and then divide by 5 so as to get the 5-day average.”
–
No. You add the 9 price fix numbers together, and then divide by 9.
October 29th, 2009 at 4:33 pm
Is this a cover up?! Doesn’t any body check facts or the math?!
While I don’t have access to exact LME AM Fix pricing, I can add the LME AM fix pricing for the last five days, and then divide by 5 so as to get the 5-day average.
The sum total of the AM Fixes used by the Govt is $ 5,247.25. This isn’t rocket science.
This produces an average of $ 1,049.45 and means, and the US Mint’s own PRICING POLICY states that the coin should be priced at $1,310.00 per coin and not the $ 1,360.00 it now imposes.
The Mint’s own website is clear on the policy, which is excerpted as follows from this link http://catalog.usmint.gov/wcsstore/ConsumerDirect/images/catalog/en_US/GoldCoinGrid.pdf :
“*The new pricing methodology is based primarily on the London Fix weekly average (average of the London Fix prices covering the previous Thursday A.M. Fix through the Wednesday A.M. Fix) gold prices, which reflect the market value of the gold bullion that these products contain.”
It is important to note that the PDF page downloadble as of today, differs from those previously available via download. The prior versions of this pricing grid didn’t highlight only the 1 oz proof Buffalo.
We all grew up knowing what bait & switch was. Well, it seems as if the US Mint is engaged in stating one thing about its pricing POLICY and then acting to its own interests when 55 CENTS ensured it would lose $50 per coin.
This is a fraud perpetrated by GOVERNMENT employees who have changed the policy to ‘TAKE IT OR LEAVE IT’.
FOUL! Dear US Mint, please act in accordance with your own pricing policy and remedy this situation by immediately refunding us our $50 per coin for each overcharge you wrongly imposed for purchases made during this period. Maintain such integrity and then and only then will all be well between you and us, your customers.
October 29th, 2009 at 5:08 pm
“While I don’t have access to exact LME AM Fix pricing, I can add the LME AM fix pricing for the last five days, and then divide by 5 so as to get the 5-day average.”
–
No. You add the 9 price fix numbers together, and then divide by 9.