Fractional '09 GAEs
 

Is the Mint still going to release fractional GAEs this month? Anyone know?

Re: Fractional '09 GAEs
 

I chatted w/ apmex and they said they expect to recieve them late next week.
Top story in this week's coin world sez the 2010 silver and gold eagles will be delayed and wont be produced til sometime in January, which if true probably means people won't have them in their hands til Feb. The mint has "run out" (temporarily?) of '09's, tulving has none for sale, and they're offered in the 1-ounce at apmex for $80 over. Premiums will continue to climb which means Buffs will pick up the slack and sales of those will explode until those run out too LOL. THe situation is goin to be interesting in the coming weeks.

Re: Fractional '09 GAEs
 

Supply and demand problems are HINTED at then therefore, right? Many many GOLD SILVER writers suggest that the premiums and supply problems we had in the past few summers will escalate tremendously come 2010.

The US Mint did quite a job holding back production on the special steps/double work/extra care packaging UNCIRCULATED and PROOF offerings in 2008-2009. The bullion however was off the charts with tremendous gains in production.

I think we'll see fantastic PREMIUMS on BUYING and large premiums on SELLING going forward making the buying and selling portion very LUCRATIVE for the dealers. The old 4% of 2000 ($255 to $265 ounce) will make way to 8% to 25% percent in 2010...

Watch for it.....:ok:

Re: Fractional '09 GAEs
 

Wow, fractional '09 AGE mintages thru the roof already:
THe 2008-W's are looking better and better all the time.
http://www.usmint.gov/mint_programs/...ales&year=2009

Fractional '09 GAEs -- APMEX pricing??
 

What's with APMEX's prices???!?

1/10th GAE price

APMEX: $155
Gainesville: $132
BullionDirect: $137

Re: Fractional '09 GAEs
 

I think the mint made a mistake here. Generally, I wouldn't expect them to be making fractionals unless the 1 oz coins were squared away, but those have now been suspended. I think they thought they were in the clear on gold supply and began making the fracs, only to be caught in another shortage. I expect them to stop making the fracs and again concentrate on 1 oz coins for the foreseeable future. In other words, I predict no 2010 fracs until late 2010, if at all.


Also, those mintages represent a standard mintage for a full year. Have they been making these all year and just waiting until they had "sufficient inventory" to begin selling?

And lastly, let me say that I am outraged that the mint creates these shortages and then allows dealers to gouge the citizens. $156 for a tenth oz AGE? That's highway robbery. I don't think the dealers paid anything near that to buy them from the mint, but they are cashing in on the "limited mintage" canard to justify charging us more. SO the mint sells the coins at a reasonable markup to the dealers and they turn around and gouge us. Who does the mint work for? Since they set up this scheme and refuse to sell directly to the public, they need to make the dealers sign an agreement stating a maximum price that they can charge for these coins. Like 10% more than the dealer paid for the coin. Otherwise my tax dollars are being used to create bargain basement coins for dealers who then turn around and turn the screws on me.:508::508::s15::36_1_28:

Ok, I think I need to sit down now....:sleepy13:

PS: These mintages are high, any dealer claiming "limited mintage" is way off down the gimmick trail if you ask me, maybe even a little dishonest?

Re: Fractional '09 GAEs
 

Government price controls are a bad idea. I'd rather see the dealers set the prices, because they could be hurt badly by something like a maximum percentage if it becomes hard to get product. If they start going out of business, competition disappears.

Re: Fractional '09 GAEs
 

Price controls on a private product are a bad idea. But this is a tax payer funded goverment product. It should be produced for the benefit of the tax payer, not middlemen. Also, I don't see how they can get hurt if they make more than they paid for it. Sure, they might not make as much, but they are not going to lose money. Heck, I don't even care if they were allowed to index the price to spot to account for spikes (i.e., the charge a set fee above what they paid, but the price can rise above that if spot goes up by a certain percentage)

Re: Fractional '09 GAEs
 

The mint's pricing policy for bullion coins is here:
American Eagle Bullion Coins

"For the Gold Eagles, we charge 3%, 5%, 7% and 9% premiums for the one, one-half, one-quarter and one-tenth ounce coins respectively. Minimum ordering requirements are 1000 ounces."

So with gold around $1,160, the mint should be charging a dealer around $126 for a 1/10 oz gold eagle. At $156, the dealer is marking the coin up about $30, or about 25%.
I agree with that assessment. American eagle bullion coins aren't rare. Collectors who want particular years/types are having a difficult year. For people buying bullion in quantity, the year doesn't matter and coins are pretty much available.

Re: Fractional '09 GAEs
 

Ok, the mint charges 9%, and they made the thing. That covers what they paid to have the gold mined, refined, blanked, and minted. Why can't the dealer get 9% as well? All he does is sell and ship, and we pay for the shipping and handling on top of everything else. A 25% cut seems excessive to me, am I wrong? If this was some privately minted bars or rounds or foreign coins, then ok, let the market work. But my govt made these coins ostensibly for my benefit, and I have to pay about a 25% premium and I don't think the dealers provide that much benefit. And it's not like I can just not shop at the dealers, because they are the only source and their premiums are built into every GAE on the secondary market.