Coin Shop

[Proudtoown]

Can anyone tell me that if I had a business license for a coin shop, can I buy eagles, proof sets, mint sets from the US Mint at wholesale prices? If I can, how do I set up an account with them? Or do they have someone else that I would have to go threw?

[truthteller]

Can anyone tell me that if I had a business license for a coin shop, can I buy eagles, proof sets, mint sets from the US Mint at wholesale prices? If I can, how do I set up an account with them? Or do they have someone else that I would have to go threw?

 

 

The US mint has special relationships with level one distributors for SAE silver and SAE gold. You have to go through a very difficult background check, be bonded and have millions of $ in assets to get approved. There are very few level one distributors in the nation. For proof sets and mint sets, you have to be a dealer to get bulk sales of 25 or more. This is not as difficult. You have to contact the US mint for information.

 

 

 

TRUTH

[Proudtoown]

The background check doesnt sound too bad, I am active duty in the Air Force with a TS clearance already. The millions in assets would be the problem. So how does one get the eagles at wholesale for resale in the shop? Go threw the 1 distrubitor?

[Proudtoown]

can you name some level one distrubitors?

[truthteller]

The background check doesnt sound too bad, I am active duty in the Air Force with a TS clearance already. The millions in assets would be the problem. So how does one get the eagles at wholesale for resale in the shop? Go threw the 1 distrubitor?

 

Yes. You pay about 2% more from a Level one distributor. A level one distributor will be someone like AMARK, California Numismatic Investments, etc.

 

 

 

TRUTH

[DaveG]

Here are the Mint's requirements for their primary dealers:

 

The minimum ordering requirement for gold and platinum is 1,000 ounces, and for silver is 25,000 ounces.

 

 

To become an authorized purchaser, you must:

 

be an experienced and established market-maker in gold/silver bullion coins;

provide a two-way market for the coins;

 

be audited annually by an internationally accepted accounting firm;

 

have established a broad base of retail customers in which to distribute the coins;

 

have a tangible net-worth of $50 million for Platinum and Gold Eagles and $5 million for Silver Eagles (this requirement may be met using a letter of credit); and (for gold) have sold over 75,000 ounces of any bullion coin over any twelve month period since 1980.

 

 

You can see a list of the national dealers on the MInt's website.