U.S. Mint Issues New Requirements for Bulk Purchasers

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2021 Morgan Silver Dollar with CC Privy Mark
2021 Morgan Silver Dollar with CC Privy Mark

The United States Mint announced new terms and conditions for members of their Bulk Purchase Program in an effort to further enhance the customer experience while ordering in-demand products, like the recently released 2021 Morgan dollars.

The U.S. Mint’s bulk buying program allows qualifying coin dealers to receive a discount on specific numismatic products when their total purchases reach $10,000 or more.

A Mint statement about the new requirements follows.

United States Mint Issues New Terms and Conditions for all Bulk Purchase Program Members

To address the extraordinarily high volume of automated web robot (BOT) traffic targeted at the Mint’s online sales site (www.catalog.usmint.gov) and to prevent the type of disruptions that Mint customers experienced during the initial pre-order window for the Morgan and Peace Dollars, the Mint has now identified and implemented a solution that we expect will mitigate most of the issues caused by BOT traffic.

To further enhance the customer experience, the Mint is introducing new Terms and Conditions for all bulk purchase program members. Continued membership in the bulk program will be conditional upon agreement to the new terms and conditions, which explicitly restrict, among other things, bulk members’ use of BOTS to purchase Mint inventory reserved for online ordering. The new terms provide that:

  • circumvention of any applicable Mint product order limit is strictly prohibited.

  • bulk purchase program members must not make any effort, either using technological solutions or otherwise, to circumvent the Mint’s product order limits.

  • this prohibition includes orders placed via the Mint’s e-commerce platform, including pre-orders and enrollments; telephone orders; and transactions at Mint retail sites, including any temporary sales sites.

  • examples of circumventing an order limit include, but are not limited to, using BOTS or other method(s) to place multiple orders cumulatively in excess of the product order limit.

  • acting on behalf of a company, any subsidiary of a company or any related commercial entity, or the employees or agents of the company, a subsidiary, or any related commercial entity, for purposes of circumventing a product order limit is prohibited.

The Mint reserves the right to review all orders and to cancel orders that violate a product order limit. If a company violates this strict prohibition against circumvention of any Mint product order limit, the Mint reserves the right to suspend or terminate that company’s Authorized Bulk Purchase Program status.

Further, if a company with Numismatic Bulk Purchaser Program status violates this strict prohibition against circumvention of any Mint product order limit, the Mint reserves the right to disregard the company’s annual purchase levels for the relevant two consecutive years for purposes of entry into the Authorized Bulk Purchase Program.

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TheKings714

So nothing changed. I think some refer to this as a “Nothingburger.” How about making the BPP members play by the same rules the rest of us have to.

Steve

You’re right, nothing has changed. Why not get rid of the chosen ones once and for all. Let them start jumping through the same hoops as we do instead of having a private phone number to place their order for thousands of them.

raphaelz

Bunch of Hogwash, the mints biggest problem is the cloud security provider it uses. It treats the regular average buyer as a possible BOT. It seems it can’t tell a freakin regular user that has purchased small amounts from the mint for the last 10 years. My guess is that same cloude security is in cahoots with those Bulk buyers and the mint officials turn their heads and act as if they are blindsided.

Daniel

That’s a really good (and simple) point. A long standing account with multiple purchases should be an early check, which if passed, allows the user to continue on as a trusted purchaser.

morgan

Why not just let us small collectors order our 1 or 2 coins or sets during the first 24 hours, then let the bulk purchasers buy theirs?

Last edited 4 months ago by morgan
Gott

I like Morgan’s idea. Small collectors first 24 hours with a limit of 5.

Gott

Yea your probably right.limit it to 2 or 3 so as many collectors get a fair chance at something instead of nothing.

Roger

In my estimation: limit of 5 does not a small collector make.

Mark D.

Who knows what evil lurks in the heart of men???

Carl Warren

I am one of those that goes by the ‘grandchildren number’, albeit I need 6 of each and that is what my enrollment has been for the last several years. So, I have several choices. I can split W-mint and S-mint between 4 of them and buy at double or triple the issue price from a dealer. Or I can try and get each grandkid both mints. Or I can just give them the Type 1’s from earlier this year and flip the 4 type 2’s for a couple hundred dollars or so each. Or I can try and get… Read more »

Ron Sheddrick

Great idea. Typical politics. One with the most money wins. Sad that they take the fun out of it. GREED.

JeffK

Exactly what I’ve been saying for years now. These Commems, Morgans and Peace should have been allowed to be added to the regular enrollment process!

Roger Smith

Great idea !!

Mammoth

Next Tuesday, when the Type ll Proof ASE’s go on sale, we’ll see how well the US Mint’s ‘new and improved’ ordering system does.

Seth Riesling

The fact that the U.S. Mint has a full-time, U.S. Government job with full benefits, as the position of director of bulk sales is, says it all !!

NumisdudeTX

Jake

Yup

Chris Terp

Guys this is all good news. US Mint has solved a major problem. Believe Mint’s staff is woefully undervalued in current position and should be working on things like a cure for SARS-CoV-2; climate change; cancer, etc. Looking forward to US Mint staff being cherry picked by EPA, CDC, FDA and other USG Departments and Agencies to make our lives and world better.

Lonnie VanSickle

I agree 100%

Roger

A step in the right direction. Hard to believe that the Mint had developed such disregard for the “little guy one coin collector” over the past three years. I was always able to order my “one coin” until three years ago. Never will be able to catch up my collection at the affordable prices of the dealers and scalpers.

Rich

Brilliant assessment Sir Kaiser Wilhelm, absolutely brilliant! Many thanks for your articulate and entertaining summary exposing this US Mint announced statement for the bogus snow job and blarney hokum it is.

Roger Smith

I think this is very good news for the I only want one for my collection, collector. I was one of us that got my 75 Anniversary gold coin in the cart only to get signed off. I was sad but did not raise hell with the mint as it was not to enrich my pocket, only buy a beautiful coin. This is a good start for us, the little man .

Seth Riesling

That is a nice pic of the front of the U.S. Mint at Philadelphia, PA (which officially opened on Aug. 14, 1969 & is longer than a football field!). If you are a wealthy coin dealer & go around the right corner, & pay a “fee” to the right person, you can enter through a “special backdoor entrance” & get special deals on coins & medals…Such a deal!!
I just love the street sign that states, “Parking in rear” (my personal favorite spot). Lol.

NumisdudeTX

Seth Riesling

Lol.
Free parking for bulk purchase coin dealers is available at the U.S. Mint…U.S. Mint personal, concierge service is also available to our special coin dealer bulk buyers (including complimentary hors d’oeuvres & champagne and after-hours shopping)…”others” with low net worth will have their old, used cars towed at your expense!

“No soup for you!” – Seinfeld.

NumisdudeTX

sam tweedy

I understand, I understand, Anacs, Anacs, Mezack, Mezack, Mezack,!!!!!

Steve

And don’t forget the dealer who is selling 2 proof eagles for 899.00, Type 1 and 2. I guess the advanced release label is worth 600 bucks. Almost forgot it’s an oversize holder. That explains the ridiculous prices these dealers are charging for 2 ounces of silver.

sam tweedy

Anacs-Mezack, Anacs-Mezack, Boy have I got a “DEAL” for “YOU”…..UNDERSTAND!!!!!! HURRY!!!!!

Vachon

It would be nice if the Mint would send us dollar coins again for face value. I’m very disappointed they discontinued that program, even more so as my bank will no longer order dollar coins for me. We’re asked to use these coins but how do I get them if banks won’t? Why is it so hard to do my part?

Carl Warren

I’ve seen and heard the same thing involving quarters where you could only get a roll or 2. Funny thing happened when I stopped at a convenience store on the way to Ocean City MD a couple weeks ago. I got a couple of Kennedy half dollars in change because the cashier claimed they had a hard time getting quarters. Where they got them from is anybody’s guess.

Granted, halves are no longer minted for circulation and the 2 I got were from the 80’s, but when was the last time anyone got halves in change?

Seth Riesling

Vachon & Kaiser –

The Federal Reserve recently issued it’s required report to Congress about $1 coins in its reserves/vaults – they have $1.064 billion $1 coins of a few kinds sitting gathering dust! They have been very slowly drawing down that amount since 2012 (by decree of the Treasury Department on December 13, 2011, no new $1 coins can be ordered by the Fed).
But, local banks can put in a request for $1 coins from their nearest Federal Reserve Bank district office. But, I am not sure if there is a minimum order.

NumisdudeTX

Thomas E Tomy

To the US Mint Director How dare you allow the mint to sell a coin that is known to be in high demand in such a poorly dim witted fashion! The limit should be one (1) per household so that more collectors can have the opportunity to purchase over the span of a few days. You have again fictitiously sold out because (we all know it to be true) due to the history of your unscrupulous business practices of reselling later in the day, next day, weeks, or months later after closing your overwhelmed website, and doing so under a… Read more »