Comments on: 2016 Harpers Ferry 5 Oz Silver Uncirculated Coin Release

By: Seth Riesling

Seth Riesling — Sun, 17 Jul 2016 18:15:55 +0000

Glad to help with info. guys. I received the official list directly from the US Mint’s Disclosure Officer since I had never seen the whole list in print anywhere. It is interesting that there are only 13 companies in the program & 4 of them are overseas.
Good luck in your comparison shopping.

-NumisDudeTX

By: Jp

Jp — Sun, 17 Jul 2016 10:15:20 +0000

In reply to Seth Riesling.

Seth
Thats interesting. Im only familiar with APMEX. I dont buy much of anything from them as (most) times I find better prices elsewhere. But they do have a terrific assortment of product.
I will have to look those other ones up to see if they sell directly.
Thanks for the info.

By: joera

joera — Sun, 17 Jul 2016 06:13:51 +0000

Seth
Thanks for the list of dealers. I was going to ask the same question Jp asked. I guess a lot of us coin collectors think the same and want to get the best products at the best price.
I like this design and plan on getting one. And now with the list of dealers I’ll be able to get it at the best price.

By: Seth Riesling

Seth Riesling — Sun, 17 Jul 2016 03:14:46 +0000

Jp –

As of February 18, the 9 US Mint billion coin Authorized Purchasers in the USA are:

A-Mark Precious Metals (CA)

APMEX (OK)

Coins ‘N Things Inc. (MA)

Dillon Gage Inc. of Dallas (TX)

Fidelitrade Inc. (DE)

Jack Hunt Coin Broker Inc. (NY)

MTB (NY)

The Gold Center (IL)

Scotia Mocatta (NY)

-NumisDudeTX

By: Jp

Jp — Sun, 17 Jul 2016 01:30:32 +0000

In reply to Seth Riesling. So, who are the big players?

By: Boz

Boz — Sun, 17 Jul 2016 00:23:29 +0000

They have plenty of available stock to sell purchased at lower cost, and marked way up to reflect rising spot prices. There is no reason to buy now.

But there will be a crunch if silver does not back off. Then they are faced with adding new stock that would have to be marked up even more, facing retail buyer resistence.

If silver gets back up above $25 then you see the market flooding with pawn and payday places rushing in to melt product in competition with commercial bullion.

By: Seth Riesling

Seth Riesling — Sat, 16 Jul 2016 21:40:33 +0000

Jeff –

That is how the Mint’s bullion coin Authorized Purchaser program has worked since the law was passed in 1985 for the silver & gold American Eagle coins that were first issued in 1986 (& for platinum in 1997). The strict requirements are necessary to provide a pipeline for distribution & a two-way market for the bullion version coins. You just have to shop around for the best price. There are only 13 worldwide US Mint Authorized Purchasers (9 in USA, 2 in Germany, 1 in Japan & 1 in Luxembourg). If you aren’t purchasing from one of these 13 companies, you are not getting the best price!

-NumisDudeTX

By: Jeff

Jeff — Sat, 16 Jul 2016 18:47:24 +0000

Two things to mention. Silver is a bit over $20.00 a oz., so the 5 oz coins cost 100.00, but the mint is selling them for 149.00 which is 50.00 profit per coin. Though most people don’t know the gold and silver spot prices are for raw condition. The blanks are made by private companies and then sent to the mints to be struck. I called the mint one time and to become a distributor, you must have 5 million in the bank just for silver and it must be free to use not including the money used to buy orders which you get %5 discount and gold is 30 million, in a account still getting %5 discount. Then they sell to wholesalers and then dealers which is why you see coins at such high prices for sale. Most dealers sell silver eagles for 5.00 and up each and one oz gold 200.00 or more per oz. But sell them back and most dealers pay 50.00 or more below spot price.

By: Jp

Jp — Fri, 15 Jul 2016 18:38:56 +0000

In reply to Seth Riesling.

Seth,
I agree. Go figure? I think the SP versions are better looking also. I also noticed that there have not been any sales of the others lately too.
Who knows?

By: Seth Riesling

Seth Riesling — Fri, 15 Jul 2016 18:13:15 +0000

Jp –

Another surprising thing is that the Mint’s 13 worldwide bullion coin Authorized Purchasers have not bought any of the 3 different 5-ounce silver bullion version “pucks” in about 6 weeks! Strange situation for sure. I guess their customers are just saying “No!”

Happy collecting Jp & everyone else!

-NumisDudeTX