Picking up and transporting their purchased bullion would be at a very high price. No wonder we pay such a high premium up here for American bullion coins. The dealers pass on the cost. Good thing I buy all of my American bullion coins from US dealers. Even with the conversion rate on my dollar I do better than buying them from home.

Thanks Seth for the continued education, very much appreciated.

Mouse

ScotiaMocatta company based in New York City is one of the 12 worldwide APs of the U.S. Mint. Scotiabank in Canada doesn’t list USA bullion on its e-store website & doesn’t ship internationally for some reason. Canadian companies & dealers would have to buy from ScotiaMocatta out of New York City since all 12 APs have to arrange to pick up their physical bullion coins at the West Point Mint in West Point, NY where one of our main military academies is located. They use private armored truck security services (Brinks etc.) to enter & pick up with top security protocols. The Mint does not ship any bullion version coins to the 12 APs, due to security & insurance reasons. They must pick them up in person at the Mint. The U.S. Mint’s APs only pay a $2 (USD) premium over London PM spot for the silver American Eagle $1 coins as an example with a minimum purchase amount of 25,000 coins. It is a very highly regulated bullion program, with many contractual obligations & that is one reason there are so few companies that qualify or even apply to qualify.

Happy collecting!

-NumisdudeTX

We have one major player in Canada that buys directly from the US mint, I’m pretty sure they do. Large bullion firm for Canada but very small compared to most US companies. I wonder if they may possibly be owned by an American conglomerate.

Mouse

-NumisdudeTX