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All Posts Tagged With: "Bullion Dealers"

Pricing Controversy with New 5 oz. “America the Beautiful” Bullion Coins

The U.S. Mint’s Dec. 1 announcement that the new 2010 America the Beautiful 5-ounce .999 fine silver bullion quarter dollars were to go on sale December 6th was canceled earlier this week over Mint concerns and complaints that the much anticipated coins were being overpriced.

The US mint does not distribute its bullion products directly to the public, but rather uses a network of 11 “Primary Distributors” who purchase the coins from the US Mint at $9.75 over the spot price of silver, and then in turn mostly wholesale these out to retail dealers. Few of these Primary Distributors have retail facilities.

Here is a list of the Primary Distributors:

  • A-Mark Precious Metals
  • Coins ‘N Things Inc.
  • MTB
  • Scotia Mocatta
  • Dillon Gage of Dallas
  • Prudential Securities Inc.
  • The Gold Center
  • American Precious Metals Exchange, Inc. (APMEX)
  • Commerzbank International (Luxembourg)
  • Deutsche Bank A.G. (Germany)
  • Tanaka Kikinzoku Kogyo K.K. (Japan)

As part of the December 1st announcement, the Mint surprisingly drastically reduced the mintage’s for the much anticipated 5 oz  America the Beautiful Bullion coins from an anticipated 100,000 coin  (for each of the 5 designs this year), to a mere 33,000.

After the announcement, APMEX decided to offer the 2010 5 coin set to customers and allow them to pre-order the coins from their website. Apmex is one of the few Primary Distributors that maintains a retail presence  through their website (which is excellent by the way). The 5 coin set was being offered at $1,395.

Obviously with such limited supplies, the large (3 inches in diameter) bullion coins were expected to be in hot demand .

However within hours of this pre-launch offering, complaints started to be registered with the US Mint because Apmex, responding to the anticipated demand and low mintages, had placed a $130.00 premium per coin on the set.

Apmex customers didn’t seem to mind the hefty premiums too much because within 19 hours after the posted  pre-launch offer, they had sold 1000 sets. But the US Mint did mind. In fact they halted the release of the new 5 oz coins to review the situation. (more…)

Harlan White Honored by California Coin and Bullion Dealers

The California Coin & Bullion Merchants Association (CCBMA) has presented an Exceptional Service Award to veteran rare coin dealer Harlan White of San Diego, California.

“Harlan White is a nationally-known and highly respected coin dealer whose strong commitment the past 25 years to help numismatists avoid needless state regulations and taxation has made my job easier,”said CCBMA President Barry Stuppler of Woodland Hills, California.

Stuppler and CCBMA Vice President Jim Hill of San Diego made the surprise presentation of the award to White at the California State Numismatic Association (CSNA) Educational Symposium in San Diego on March 20, 2010.

Time for the previously unannounced honor was discreetly arranged in the symposium schedule by CSNA Education Director Jim Hunt, according to Stuppler.

The California Coin & Bullion Merchants Association works with elected and appointed government officials in California to inform them about the benefits of rare coin and precious metals ownership.

With the assistance of a lobbyist in Sacramento, CCBMA seeks to prevent legislation that negatively affects the entire numismatic and bullion community. The organization also provides information to the public and law enforcement agencies to assist in the recovery of stolen coins.

For additional information about CCBMA, visit www.ccbma.com. For additional information about the California State Numismatic Association and future educational symposiums, visit www.calcoin.org.

Goldline International Ranks #32 in 100 Largest Privately-Held Companies by LA Business Journal

Goldline International, Inc., a leading gold and precious metals trading company, was recently ranked the 32nd largest privately-held company in Los Angeles by the Los Angeles Business Journal.

goldline_gold“Everyone at Goldline has worked very hard to build the company into a national leader in the gold and precious metals field,” stated Mark Albarian, President and CEO of Goldline. “We are proud to be recognized by the Los Angeles Business Journal for our growth which we achieved by providing quality gold, silver and rare coins and outstanding customer support to our valuable clients.”

Goldline is an industry leader in the precious metals and rare coin field serving individual investors and collectors who wish to add gold, silver and rare coins to their investment portfolio. With nearly 50 years in business and a strong history of client service, Goldline has become the choice of thousands of precious metals and rare coin investors and collectors. Goldline anticipates even greater demand for its gold and silver products as investors continue to look to diversify their portfolios and seek greater protection against a falling dollar and looming inflation.

Although many Goldline clients are located in the greater Los Angeles area, Goldline assists clients throughout the United States.

The LA Business Journal selects its top privately-held companies based upon company revenues. They reported an annual revenue of $525.4 Million and number of employees as 319 for Goldline.

“We expect Goldline to continue its growth and plan to remain on the LA Business Journal’s list of largest privately-held companies,” said Albarian.
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