Tuesday, December 6th, 2016 MST

America the Beautiful 5-oz silver coins mid-January, maybe

One US Mint Authorized Purchaser has put up a website where, hopefully, the sets can be ordered online mid-January.  The site is www.buyamericathebeautifulnow.com.  It is not yet functioning, and the exact date of it becoming functional is not known at this time.  I encourage potential buyers to bookmark the site and to check back frequently.  I doubt the AP’s 3,000 sets will last long insomuch as they will be sold at minimum markups.

One visitor to my 12/28 America the Beautiful turns ugly post commented that the Home Shopping Network was selling 210 sets available at $5,000 a set.  I have no idea how one entity came up with 210 sets when the Mint’s APs have been directed to sell “one to a household.”  And, I have not taken the time to verify that HSN actually is offering the sets.  I don’t care.

This series was supposed to have been a bullion product, which, logically, meant a big production number.  But, when the Mint announced that only 33,000 sets of the first five coins were going to be minted, the coins became hot items, partly because of collector interest but mainly because of promoters who thought that they were going to sell the sets to naïve buyers at huge markups.  Kudos to the Mint for making an effort to shut down the overpricing of the coins.  However, I still suspect that many buyers will pay ridiculously high prices for these coins.

Remember that the Mint plans to offer a “numismatic” version of the coins.  They can be bought directly from the Mint’s website.  Here, again, you can expect the early releases of the “numismatic” version to be hawked by promoters and on eBay at huge markups.  Many promoters are skilled at getting first new releases from the Mint.

This is not my area of expertise, but over my now nearly four decades in the retail gold/silver bullion industry I have observed the collectible side.  Most US Mint collectibles do not hold even their Mint premiums, much less the premiums tacked on by telemarketers and Internet promoters.  If I were a buyer of these coins—I am not—I would get them at the Mint’s 10% mandated markup or I would not buy them at all.

Another AP may set up still another website where the coins can be bought online.  If that happens, I will post a blog about it, and CMI Gold & Silver Inc. will send emails to those interested buyers who have emailed us at info @cmigs.com.  (Close the gap between “info” and the @ to make the address work.)

In reality, the series so far has been a real disaster, primarily caused by the limited production number.  If the second set of five coins has increased production numbers, you can expect promoters to ask astronomical prices for the first five coins.

32 Responses to “America the Beautiful 5-oz silver coins mid-January, maybe”

    • Bill Haynes

      Over the years, I’ve seen some coins promoted on HSN at high prices but nothing ever like this. The five-coin set at nearly $5,000, the individual coins just short of $2,000. I find it incredible that HSN considers its viewers to be so stupid.

      Reply
  1. Jobe Lew

    Typically HSN sells coins at high premiums due to limited quantities and substantial markup for those coins that are GRADED. I have bought several GRADED coins over the years and have found that you need to do your homework and search for various sources to get the best price. Usually HSN comes out with graded coins before others.

    Just be practical about how much you are willing to pay to get that coin(s) you REALLY want. There will always be substantial markups on “in demand” coins, whether you’re on Ebay, HSN, or other outlets

    Reply
  2. David

    The HSN apparently got theirs from Silvertowne, who apparently got between 50 and 300 sets from Jim Hausman, the owner of “The Gold Center,” an AP of the mint. The treasurehunters group (using the name coinsantiques.11, 12, 13, etc), also based in IL, was selling about 120 sets on eBay for 2-3000 each, and it is assumed that they also got them from The Gold Center, apparently the only AP to break the rules so far.

    This info is readily available on the boards, and in an article in the local IL paper Hausman actually says that he “took care of his regular customers and dealers first” before making them available to the public. Selling even ONE set to a dealer (and especially hundreds) is prohibited by the AP terms and conditions.

    Reply
  3. Buying Silver Guide - Mr. Silver AG

    I can’t believe the demand for these coins! You hear about the guy who hired 50 people from an employment agency to stand in line to try to get more than the allowed amount of these coins ? I wish I had the chance to get them at the low release price.

    Reply
  4. Ken

    What a nightmare. I spent hours trying to order the 5-oz coins from buyatb.com and finally got the order to the point of the PayPal payment page and PayPal couldn’t process the payment. I called PayPal and they informed that they have had numerous calls with the same issue but had no idea what the problem was. I have a feeling there will be a lot of people that will never use PayPal again, and I’m one of them. What frustration.

    Now, I have to wait until another distributor offers the coins. Please let us know when another distributor is planning on offering the coins. Thanks for your great Blog.

    Reply
    • Bill Haynes

      buyatb.com has posted this:

      Due to heavy volume we have stopped taking orders for the day. Please register here if you would like us to contact you when we receive additional sets.

      The first 250 people who register will be eligible to purchase a set on Tuesday, January 25, 2011.

      We are not accepting phone orders, only buyers who register here will be contacted, based on inventory and availability.

      Thank you.
      A-Mark Direct

      I have no idea how many sets represent the “heavy volume” that caused A-Mark Direct to stop taking orders. Note that there is a procedure to get in line for potential furture sales. Perhaps 250 sets are all that A-Mark Direct wants to have on order at one time. It is belived that A-Mark Direct was allotted at least 3,000 sets.

      Reply
      • Ron Moniz

        I did this for 4 different friends of mine. This was after I had bought 2 sets. At the time I filled it out, it said the first 250 would get them. They all got emails back saying:

        “Thank you for your interest in the US Mint America the Beautiful Five Ounce silver sets. Unfortunately, due to the high volume of registrations received you were not one of the first 250 registrants.

        “However, because the volume of registrants was so high we are making 50 additional sets available to everyone who registered after the first 250. We are randomly selecting 50 registrants and will notify you on Tuesday 1/25/11 with instructions on how to order your set if you are selected.

        “Additionally, if you are not selected and still have not been able to order a set, please check back Wednesday 1/26/11 for additional availability.”

        A-Mark Direct

        Not one of them was selected.

        Reply
    • patrick

      FideliTrade has a limited number of 2010 ATB 5-coin sets available for $929.20 (includes shipping).

      Reply
  5. Ron Moniz

    Thank you, Bill, for giving out this info.

    I was one of the lucky few to score from A-Mark. The morning it was set to begin at 10:00. I hit them about 9:50, figuring if it’s going to start at 10 they would need to boot them up before that so they were running at 10. Nothing. 9:55 dead. 9:57 bingo. It took a good 7 min until the first page loaded. I filled it out but there was no way to get to the second step. No links to send it, I moved the mouse around and nothing was making it change. I went up top where the five steps were and started clicking them. Nothing. I got lucky and hit over this one word it sunk down and page 2 here we come.

    Through each page it seemed it wasn’t going to make it. Finally I got to paypal sent it and it sent me back 2 pages hit that one again and it gave me the final one confirming everything. My order was #89 and it was about 10:35. Then I went to my mail box to make sure the payment had been made because it never seemed to get to paypals website. Paypal lets you know almost instantly when money transfers through. I had to wait about 5 mins almost giving up and then it came I couldn’t believe it. Reload first page to see if it would make it through again as my brother wanted a set. His order #2142. In 35 mins 2200 sets were sold. Imagine what would have sold if someone that new what they were doing had set up the website

    It reminded me of what it was like back in the DOS days before Windows 3.1 came out. Anyway thanks again, Bill. I have a feeling that that was the only chance the public had at getting one of these sets. As far as the other dealers that have them, there websites say don’t call us we will post the info when we have it or they don’t say anything at all,the rest don’t have websites. The ones without websites I called and you can forget those. Ampex was already set up to sell them but hasn’t sold anymore. The people that ordered when they jumped the gun have got there 1 set. Most all of them ordered multiple sets. They sold 2000 and I would bet less than 500 people made orders. That means they have 2500 or more but where are they. If you start looking around you can see them starting to come out. One coindealer in Florida has 3 sets for sale slabbed by NGC on EBAY $4,500.00 set.

    You can bet he has plenty more too.

    They take our silver,use our mint and are told to let the american people that want some have it and what do they do.

    Reply
  6. Ron Moniz

    FideliTrade. I would check this site like all the others 5,6 times a day waiting for the big word. Monday I went there and down in the right hand corner on the bottom is:

    FideliTrade has a limited number of 2010 ATB 5-coin sets …

    I clicked the link …
    FideliTrade has a limited number of 2010 ATB 5-coin sets available for $929.20 (includes shipping).

    As you may know, the U.S. Mint placed a restriction of one (1) set per household on the ATB coin purchases. We have reviewed the initial surge of orders and determined that many households attempted to acquire multiple sets. We have eliminated these duplicate orders. This has enabled us to offer additional sets.

    Reviewed the initial surge of orders?

    Did I miss something? Not once did I see where they said anything about taking orders.

    Anyway I sent my order in.

    To do this you open an account by filling out a form that gives them your name add phone# and Social Security #, sign the bottom write them a check and mail all this to them. Of course it’s first come first serve. I did this with not much thought about it. Then after thinking about it a little as to why they would make ordering these such big hassel.

    The only way to pay was by personal check and you no how long that takes before it clears. It just seems like a stupid way to sell these. I could understand it if the order form was filled out and sent online and then you send the check once the order is confirmed. I got a good feeling that my order and anybody else that orders one will not get any of these sets. Think about what is really going on here. They have these sets and can double theiemoney easy.

    They send out this flier saying they got all these double orders and now have extra sets. I never saw anything about them taking orders, and I was checking that site just like the others every day 4 or more times a day. What this might be is a way for them to get 3,000 people’s info and all they do is say they are out of sets and rip up the check. The mint I’m sure is going to be hearing a lot of people complaining which might force them to check the books to see the names of who the buyers were. This could be a slick way for them to add names to their lists. I hope I’m wrong but the fact is they are starting to come out for sale already, and the people that have them are the ones the mint said they could not sell to. Time will tell.

    Reply
  7. Ron Moniz

    DillonGage has updated their website it now says

    Thursday, January 27, 2011

    NOTICE ABOUT AMERICA THE BEAUTIFUL 5 OUNCE SILVER COINS:
    We continue to develop the appropriate procedures to meet the U.S. Mint’s guidelines for the sale and distribution of these coins. At this point we are unable to accept names or take orders for these coins. Please look for updates on this website. No phone calls, please.

    Thank you for your understanding.

    This hard to believe. A company like this! You would think they have educated people working there, more than likely highly educated but they can’t seem to develop such a simple procedure. You have to wonder what they are really trying to develop.

    Reply
    • Bill Haynes

      I’ve known the people at Dillon Gage for decades. They are fine people, and, yes, educated. However, Dillon Gage is not a coin dealer, per se, and is not prepared with either staff or website to handle sales of individual coins or coin sets.

      Dillion Gage is moving forward at its pace, not the speed at which collectors would like to see. After DG develops their procedures, they may never have another use for them.

      The problems with America the Beautiful 5-oz coins blindsided everyone. The Mint’s Authorized Purchasers thought that there were going to be at least three times the coins released and that they could distribute much as they distribute Silver Eagles. But, that is not the case. Another of the Mint’s APs is not even going to sell its allotment of coins until the second quarter.

      Reply
  8. Ron Moniz

    I want to thank you again, Bill. I received my set today from A-Mark. These coins are beautifully encased by PCGS. The one problem bullion people like myself is these coins the way they come take up to much space. I could put 1500oz easy in the same box. These will be hard to hold if they keep selling at 3 to 4 times what there worth. Thanks again,Bill, this is great.

    Reply
      • Ron Moniz

        No, these are slabbed by PCGS for A-Mark because my order # 89 is in the number above the bar code. They also say FirstStrike on the top.

        Reply
        • Bill Haynes

          Interesting. So, A-Mark is going to the expense to slab coins that can be sold immediately in original packaging. I wonder if the slabbing gave A-Mark justification to ask more for their coins.

          Reply
        • Ron Moniz

          They charged $100.00 for S&H plus $85.00 tax. Without the tax, they are $45.00 more than Fidelitrade.

          Reply
  9. Michael

    Just got my first chance to hold the new 5 oz. America the Beautiful coins. They look very dull and drab. The George Washington design is trite. The mint failed throughout the whole process (from design through distribution).

    The asking price was $3,500. I will pass.

    Reply
  10. Ken

    The ATB Website is updated and orders can be placed. I finally got to order a set and I was very pleased that this time PayPal processed the order. There is not many left so the lucky few that read your blog might get a set.

    Reply
  11. Ken

    According to their site, all of the sets are in PCGS holders and marked First Strike. They are selling the sets for $875.00, which I believe is the right pricing. However, they might be recovering the PCGS cost through the shipping cost which is $99.00. Its an honest price and I commend them for their efforts while having to deal with a distribution nightmare. Having the coins slabbed is an added bonus. My set will NOT be appearing on eBay or anywhere else but will remain in my collection.

    Reply
  12. Brad

    Ken – are you saying that the A-Mark website had these for sale yesterday morning? I have been trying to get a set for some time and signed up for an alert, but didn’t get one, or is there a different ATB site that had these up? I did send a check in to FideliTrade but am skeptical if that will come through or not. So any help is appreciated!

    Reply
    • Ron Moniz

      I have received a email from FideliTrade confirming my order was received. Their process says We will send individual emails confirming a) receipt of orders, b) acceptance of orders and c) shipment of orders. I got to part (a) so far.

      Reply
  13. Ken

    Brad – it was the site that was set up by A-Mark to purchase the coins. I have been checking all distributors sites several times a day trying to buy a set. When I went on the atb site yesterday morning there was a buy now under the description on the main page. I went through the ordering process and completed the order and received a confirmation that the order was complete. The buy now tab was up for about an hour then it said you could register for the next sale date. I think A-Mark is doing a great job in making the sets available and I commend them for there efforts.

    Reply
  14. Brad

    Ron – Can I ask when you sent out your check to FideliTrade and how long it took to get a confirmation email that they received it? I sent out a check Wednesday, the 2nd, in hopes to get a set. I then used their contact button asking if there were still any available or if I should keep looking since I just sent my check in on the second. I received a reply that there are still sets available. So I am hoping I can get a set from them.

    Reply
    • Ron Moniz

      It took about a week all together but only a couple days after they received it. I’m in California, and I think it took like 4 days to get there. I still haven’t received anything saying they accepted it, only they received it.

      Reply
  15. Larry

    One of the United States Mint’s authorized purchasers (CNT) finally put its 2010 America the Beautiful 5 oz silver coins on sale today (March 8, 2011). A buyer was required to call a toll free number between 3:00 p.m. and 5:00 p.m. [EST] in order to purchase the coins. My buddy and I called the number for the complete 2 hour period. We were on separate telephone lines and averaged about 6 calls per minute with redial buttons. This amounts to 4 man hours of calling and a total of 1440 telephone calls. We never got through.
    This is the process the United States Mint has allowed for the distribution these coins. These authorized purchasers are under the auspices of the Mint. This is a ridiculous process and a prime example of the inefficiency of the United States government. Who ever devised this process should lose their job (and let’s not forget our congressmen). And to think, the government is now in control of healthcare – if that does not scare you, then you don’t have a brain.

    Reply
    • Bill Haynes

      I don’t know how CNT is handling the sales of their allotment of America the Beautiful coins, but A-Mark quit taking orders after 250 sets (five coins) so that their shipping department would not have to handle orders for 3,000 sets all at once. After the 250 were shipped, they took orders for another 250 until their allotment was gone. Perhaps CNT sold their day’s quota and then quit taking orders.

      No doubt, these coins turned out to be a nightmare for all involved: the Mint, the distributors, the buyers. If the Mint had produced 100,000 each of the first five coins the coins, there would still be coins on the shelf. But, the big demand for Silver Eagles probably factored into the Mint’s decision to limit production, hence all the problems.

      Reply
  16. Ron Moniz

    I got my coins from FideliTrade. The link to order coins from them is still up on their website.

    Reply

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