2011 SAE proof repricing?

[bsshog40]

So I know that silver took a pretty good smashing lately. I know I paid $60 a piece for my 2 proofs that I had on subscription. If they lower the price, think they'll go back and refund anyone that paid the high prices? I would think it fair seeings how, if they are able to lower the price, that the only reason it was raised in the first place was because silver was high. Kind of funny also that the mint bases thier prices on the metal market and not thier actual costs. This is presuming they lower the cost of these.

[Chris1976]

While I agree it would be nice to have some of the price refunded, I dont see them doing that. It would be like asking a bullion supplier to refund part of your money spent on a purchase that was made while the prices were high, it just wont happen or they wouldnt make much if any profit for the items they made at the time.

 

It would be like asking a gas station to refund some of your purchase on fuel if it had droped a nickel per gallon the day after you had purchased it.

 

-Chris#2

[bsshog40]

While I agree it would be nice to have some of the price refunded, I dont see them doing that. It would be like asking a bullion supplier to refund part of your money spent on a purchase that was made while the prices were high, it just wont happen or they wouldnt make much if any profit for the items they made at the time.

 

It would be like asking a gas station to refund some of your purchase on fuel if it had droped a nickel per gallon the day after you had purchased it.

 

-Chris#2

Yea in a way you're right but we're talking the US Mint here, not a B&M business.

[MorganMan]

Isn't it funny how when the price goes UP. they raise prices almost immediately, but when they go down, it takes a while.....

 

 

I guess it takes more effort to retype a lower price....

 

 

MM

[Joe Swindell-migration]

On the mint site it's been taken down for re-pricing as of 2:30pm 10/4

[bsshog40]

On the mint site it's been taken down for re-pricing as of 2:30pm 10/4

It's actually been that way for a few days now.

[Joe Swindell-migration]

Ah OK! What are you hoping for price when it comes back up

[bsshog40]

Ah OK! What are you hoping for price when it comes back up

Don't matter to me Joe, I already have my 2. It will probably tee me off if they are lower than what I paid thru subscription tho'.

[Houston Investor]

I don't let what they do bother me. The deal at that point in time is either good for me or it isn't. Usually if there is a window to get a good USM deal with rising bullion prices its not going to last that long.

 

I will take the latest greysheet and calculate the premium above spot on (common)PF ASE's it is showing. Taking current BV plus this calculated premium I will use that as a basis in determining if a USM PF ASE deal or ebay deal, etc. floats my boat. If ebay, I will put my price into Auction Sniper.

 

I periodically check USM offerings on PF ASE;s, Silver PF Sets, and mod commems to see if there is a favorable buying window. When I see their prices slipping below my calculated bid value then I pounce.

 

I think some of them ATS worked this angle on the US Army $5 gold commems and at that point in time it seemed like a smart play then the price of gold dropped. Too bad so sad for them.

 

 

[bsshog40]

Well after all that time of repricing, finally done. The proofs went down a Dollar and the Unc came down almost $10.

[Mokiechan]

I've given up on mint subscriptions, you can almost always do better in the secondary market.

[bochiman]

Why do people think the USMint OWES them when prices go down?

You buy, or you don't buy. Don't like the price, wait for them on the secondary market.

 

And, it is always easier to raise prices than to lower them, particularly when you have a return policy. No one (unless there is a physical problem) returns an item when the prices goes up just after they buy it, but when the price goes down, there is a 7 day return and people will play the buy-return-rebuy game over and over.

 

I would have down the exact same thing as the mint and I am surprised no one seems to have realized that is likely part of the reason for the delay from the takedown to the relisting at the lower price.

 

Also, I do believe that there are rules that they have to stay within and I read something like a "5 day rule" (I was on a trip this past week and it was in a previous issue of NN or CW that I was reading this....one of them from a Sept issue I think). So, if prices are going to adjust downward, they have to wait at least 5 days...and, there is a 7 day return period anyway, AND silver was being quite volatile.

Do you honestly think they should have repriced it earlier and maybe had to pull the prices again when/if silver spiked upwards?

 

I, like everyone, LOVE to save money and I want to buy as cheaply as possible, but I do understand what a business is and what a commitment is.

 

[bsshog40]

Why do people think the USMint OWES them when prices go down?

You buy, or you don't buy. Don't like the price, wait for them on the secondary market.

 

And, it is always easier to raise prices than to lower them, particularly when you have a return policy. No one (unless there is a physical problem) returns an item when the prices goes up just after they buy it, but when the price goes down, there is a 7 day return and people will play the buy-return-rebuy game over and over.

 

I would have down the exact same thing as the mint and I am surprised no one seems to have realized that is likely part of the reason for the delay from the takedown to the relisting at the lower price.

 

Also, I do believe that there are rules that they have to stay within and I read something like a "5 day rule" (I was on a trip this past week and it was in a previous issue of NN or CW that I was reading this....one of them from a Sept issue I think). So, if prices are going to adjust downward, they have to wait at least 5 days...and, there is a 7 day return period anyway, AND silver was being quite volatile.

Do you honestly think they should have repriced it earlier and maybe had to pull the prices again when/if silver spiked upwards?

 

I, like everyone, LOVE to save money and I want to buy as cheaply as possible, but I do understand what a business is and what a commitment is.

Maybe YOU didn't see my . I don't expect spoon from the mint. It was mostly a joke.

[jtryka]

Well you got your wish, the proofs are now $1 less than they were when the first went on sale!

[bsshog40]

Well you got your wish, the proofs are now $1 less than they were when the first went on sale!

Did u see the Uncircs Jeff. Down almost $10.

[jtryka]

I didn't notice the uncs since I decided to hold off on them and wait for the 5-coin set rather than end up with 2 of the proofs and uncs.