Texas: Home of the first state-run bullion depository in the U.S.

The Texas state capitol building, Austin. (Photo by Ed Uthman)

Lone Star Tangible Assets (LSTA), an Austin-based firm, has signed a five-year contract with the government of Texas to manage the state’s bullion depository, which will be under the authority of the state comptroller general (currently Glenn Hegar).

Prior to the law authorizing the Texas Bullion Depository, such facilities were privately owned, with the exception of the massive depositories of the federal government. They tend to be clustered near the New York financial hub, in part because of COMEX requirements that its member depositories be located within 150 miles of New York City. (COMEX is the precious-metals arm of the New York Mercantile Exchange; the merger of the two companies created the largest physical futures exchange in the world.)

One aim of the Texas Bullion Depository is to bring the fees that Texas investors are paying for bullion storage elsewhere back to their home state. Another of the earliest aims of the effort, at least as articulated by then-governor Rick Perry, was to “repatriate” the more than $660 million in bullion owned by Texas universities and secured in NYC vaults. Ironically, that headline-grabbing aspect of the project appears to be on ice, as UTIMCO (which manages the universities’ funds) says it won’t move the gold unless two conditions are met: first, that it’s cheaper to store the gold safely in Texas; and second, that the depository is a member of COMEX. The fact that Austin is located a bit more than 150 miles from New York presents a problem, unless some kind of exception can be worked out. For now, LSTA’s goal is “to create liquidity of COMEX levels in the state of Texas for those large institutions over time.”

Texas legislators spent several years pushing for the state to have its own bullion depository—the first such state-administered operation in the U.S. The necessary law was finally passed and then signed by Governor Greg Abbott two years ago. In July 2016, the Office of the Comptroller issued a request for proposals from companies interested in running the depository. The selected organization would be responsible for the following (paraphrased from the original):

  • accepting, withdrawing, transferring, and transporting bullion deposits;
  • acting as a depository agent;
  • transacting business with depository agents;
  • collecting reasonable fees;
  • providing account transactions, including an online platform with software to provide one or more of these services;
  • providing secure physical bullion vault storage in Texas; and
  • other services with respect to handling, quality control, accounting, record-keeping and publication, etc.

Logo of the newly formed Texas Bullion Depository.

More than a dozen companies submitted proposals, with Lone Star Tangible Assets securing the final contract (five years, with the opportunity for up to two 1-year extensions). According to the depository’s website, TexasBullionDepository.gov, its development is taking place in three phases. In phase 1 (currently underway), LSTA is establishing the means for “Depository Account Holders and Depository Agents to open accounts with the depository.” This service should be in place by early 2018. Phases 2 and 3 will expand the depository’s offerings to large institutional and international agencies. It is hoped that one or more major national banks would become agents, allowing their customers to open accounts that would allow them to make debit-card transactions with their bullion investments.

In the meantime, LSTA—which already owns numerous secure vaults that are sufficient for start-up purposes—plans to construct a 60,000-square-foot facility on a 10-acre campus near Austin. According to the website, LSTA “has assembled a team of experts to advise on the design, construction and operations of the Texas Bullion Depository—including veterans of the precious metals industry, a former director of the United States Mint, veterans of the United States Air Force charged with operating our military’s nuclear weapons facilities, and a former SWAT team leader.”

Although Texas is the first state to open a state-run depository, other states are making similar moves. After Utah passed its Specie Legal Tender Act in 2011, for example, the non-profit United Precious Metals Association was established to allow members to “access their wealth by using a Visa debit card, ACH (electronic check), or by taking physical possession of their [gold and silver] holdings.” More recently, Tennessee passed legislation sponsored by Rep. Bud Hulsey (R) to permit the state to operate a bullion depository.    ❑

For further reading:

Texas Tribune.com: “Texas taps private vendor to manage first state-run gold depository in U.S.

DallasNews.com: “Texas just had to be the first state to start its own gold depository.

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Comments

  1. KEITHSTER says

    Might work if you only want to store it for 7 years but now every state will need one so the feds will know where to find it in a hurry! But it’s a start would never use one :>:>:> But Good Luck All “>”>

  2. earthling says

    So China has been building up Islands in the South China Sea and putting Nuclear Sub Bases and Airfields on them. Their aim is to control shipping lanes and the rich fishing grounds. Seems like I remember reading about some sort of buildup along the Panama Canal, recently. And just a few days ago , news of Naval Exercises with Iran in the Gulf over there.

    So doesn’t it seem like the Chinese are trying to control the Worlds key shipping points? I can see a big storm brewing out on the horizon.

    Soon that new World Reserve Chinese Currency will be launched – backed by Gold. To prop up the US Dollar, won’t the US need to grab all the Gold out of them Vaults? No?

    Alright. Nevermind. Stack em up. Nothing to worry about.

    😨

  3. Barry says

    If they want the university to put their gold in the new vault the politicians should just threaten to reduce their state subsidies. They will most likely capitulate.

  4. mgm says

    I’ve got to move to Texas. Seems like the only state in the union that knows what is going on in the world.

  5. Mike the Greek says

    Earthling if that happens does that mean the US would need to go back on a gold standard?

  6. Joe M. says

    SSSSSSSSSSSSilver
    🙂
    I hope the same thing happens that occurred in 2010-2011…..C’mon $50 or more!!
    Ohhh Yeaaa, I’m ready 🙂
    But, with my bad luck, it will go to $15 🙁
    If it does, I’ll buy a lot more!!!
    After all, very few US Mint products were appealing to me this year 🙁
    I hope 2018 has some nicer, BEAUTIFUL coins!

  7. Tom says

    Trying to settle a dispute. Is RCM silver bars always considered generic silver? Any thougjts?

  8. Sith says

    It depends, if you go and buy a RCM bar then its not generic, if you buy generic, and get a RCM bar, then obviously it is generic. “Generic silver” refers to wholesale silver products, which means silver products that have been already used, like generic silver rounds or bars.

    “Silver Bars are a great way to invest in bulk sizes. Each of the bars is made up of one hundred ounce of .999 fine Silver. These are “generic” Silver bars, so they are bound to vary in design and brand, but all of them are guaranteed to contain a minimum of 10 troy ounces of silver at a purity rate of .999 or above.” “Purchasing from a generic product SKU allows us to ship the choosing of the inventory we have on hand at the time of shipping. There is no guarantee to which product design or brand you will or will not receive.”

  9. Sith says

    If you view generic as non-governmental issuance., then a RCM bar would never be generic.

  10. says

    Absolutely LOVE the NASA recommend design choice –

    Leave it to the U.S. Mint design selection process to screw it up!

  11. cagcrisp says

    @Tom, “Is RCM silver bars always considered generic silver? Any thougjts?”

    I don’t consider an RCM Silver bars as generic…

  12. cagcrisp says

    Not a Lot of bullion buying of 5 oz. pucks in the past week:

    Effigy 28,900 +200
    Douglass 20,000 +0 (According to some as SO)
    Ozark National 20,000 +0 (According to some as SO)…

  13. data dave says

    @cagcrisp – The Douglass premium keeps going up so it must be SO. The Ozark premium is about $10 over the Effigy puck so it might be SO also. The Douglass was a good buy it seems. I wonder if they are going to stick to 20K the rest of the year. One way of selling off the Effigy pucks if they made too many.

    So if I buy 4 pucks of each design when it first comes out, 100 oz per year, and compare the price a year later with 100 ASEs, which is better?

  14. Old Big Bird says

    Gee I wrote a comment about the Apollo 11 coins yesterday at 10 am and no one saw it or commented on it until 10 am today amazing I guess only KCSO is the only other person that thought it was of interest.

    I agree with you KCSO that 4 coin set would be a great item for the mint to produce

  15. cagcrisp says

    @data dave, “So if I buy 4 pucks of each design when it first comes out, 100 oz per year, and compare the price a year later with 100 ASEs, which is better?”

    A Year later, Conventional wisdom would say the pucks would do better…

  16. cagcrisp says

    @data dave, to Clarify my Above post.

    A Year later Both Should be worth Spot + , however, there are Many on here that Chase something Once it is SO.

    Not saying it’s Worth more, just saying once pucks go SO they tend to go up (in the year time frame you are referring)…

  17. says

    Old Big Bird says
    JUNE 20, 2017 AT 10:17 AM

    Can you imagine a 5oz curved puck!!

    It’s gonna be Awesome!

    One for the Ages!

    And I’ll be planning to take a full day of vaca when it’s released, no excuses here!

  18. KCSO says

    The CFA-recommended 2019 Native American dollar reverse design features mathematician Mary Golda Ross and astronaut John Herrington, among other elements.

    And its pretty awesome too, finally something to get excited about, albeit 2 years away, will be a nice hold over until see get to see a 2021 gold Peace Dollar! 😃

  19. Old Big Bird says

    Per the article they are suggesting all 4 coins to be curved Thanks for you input KCSO

    If it should come about it would be a grand slam for the mint

  20. Tinto says

    @KCSO

    Thanks for the link. The Apollo 11 design chosen by NASA looks great with the flag in the foreground. I also like the fact that they will have a space themed NA $1 the same year.. neat. Hopefully the Mint hasn’t discontinued the NA $1 C&C sets ..coz it’s gonna look great in RP finish .. ..

    And how about something coming from left field … like redesigning the reverse (for 2019) of the Kennedy half to mark his speech to Congress and the nation to send a man to the moon and back, safely. Maybe a space themed reverse??

  21. You Can't See Me says

    I like the Young Astronaut Program 12 and 6 ounce silver medals. I am trying to pick up a few before the end of the year. Much lower mintages at 3700 and 1075 respectively.

    Good luck to Texas on this bullion project. They have a few hurdles to overcome.

  22. Leo S. says

    To Cagcrisp

    How many Vicksburg 5 oz. pucks (bullion) were minted? The Apmex website says there were 581,000 minted, but that seems way out of line with any other puck.

  23. Mister Kairu says

    Hi all RE: Provident metals from the last thread, I was wondering was the talk of red-flags just meaning that ordering directly from them could be risky? Or was it more buying any of their products was risky because the value could disappear? I understand my Privateer series is still 2oz of silver per round but was curious because I couldn’t quite follow what was being said… thanks! ^.^

  24. cagcrisp says

    16AN 2016 ATB SILVER UNC 5 OZ – FT MLTR 17,223 + 30
    17AJ 2017 ATB SILVER UNC 5 OZ – EFF MNDS 15,288 + 65
    17AK 2017 ATB SILVER UNC 5 OZ – DOUGLASS 14,338 +149

  25. cagcrisp says

    16XA 2016 WALKING LIBERTY 24K GOLD .5OZ 63,692 + 78
    16XC 2016 STANDING LIBERTY 24K GOLD .25OZ 89,463 + 110

  26. cagcrisp says

    17CA 2017 BOYS TOWN GOLD PROOF 1,336 –
    17CB 2017 BOYS TOWN GOLD UNC 1,768 +10
    17CC 2017 BOYS TOWN SILVER PROOF 21,320 +1,225
    17CD 2017 BOYS TOWN SILVER UNC 9,244 +94
    17CE 2017 BOYS TOWN CLAD PROOF 15,397 +117
    17CF 2017 BOYS TOWN CLAD UNC 13,739 +48
    17CG 2017 BOYS TOWN 3-COIN SET 4,858 +22

    17CH 2017 LIONS CLUBS SILVER PROOF 63,238 +1,754
    17CJ 2017 LIONS CLUBS SILVER UNC 15,955 +69

  27. cagcrisp says

    16EA 2016 AM EAGLE SILVER PROOF 1 OZ 561,611 +963

    16EB 2016 AM EAGLE GOLD PROOF 1 OZ 23,634 + 3
    16EC 2016 AM EAGLE GOLD PROOF 1/2 OZ 5,710 –
    16EF 2016 AM EAGLE GOLD PROOF 4-COIN SET 17,270 –

    16EG 2016 AM EAGLE SILVER UNC 1 OZ 199,859 + 816

  28. cagcrisp says

    17EA 2017 AM EAGLE SILVER PROOF 1 OZ 275,559 +3,953
    17EA042 2017 AM EAGLE SILVER PROOF 1 OZ (BULK) 240 +1

    17EB 2017 AM EAGLE GOLD PROOF 1 OZ 5,422 +61
    17EC 2017 AM EAGLE GOLD PROOF 1/2 OZ 1,179 +15
    17ED 2017 AM EAGLE GOLD PROOF 1/4 OZ 1,844 + 45
    17EE 2017 AM EAGLE GOLD PROOF 1/10 OZ 7,949 +156
    17EF 2017 AM EAGLE GOLD PROOF 4-COIN SET 7,068 +89
    17EH 2017 AM EAGLE GOLD UNC 1 OZ 2,061 (19)

    17EL 2017 AM BUFFALO GOLD PROOF 1 OZ 10,515 +217

  29. cagcrisp says

    Other than Kennedy….No Love…

    JQ1 2015 FS GOLD PROOF 1/2 OZ – TRUMAN 2,674 (2)
    JQ2 2015 FS GOLD UNC 1/2 OZ – TRUMAN 1,879 +1
    JQ4 2015 FS GOLD UNC 1/2 OZ – EISENHWR 2,017 +1
    JQ6 2015 FS GOLD UNC 1/2 OZ – KENNEDY 6,704 +8
    JQ8 2015 FS GOLD UNC 1/2 OZ – JOHNSON 1,791 –

    16SA 2016 FS GOLD PROOF 1/2 OZ – NIXON 2,538 (4)
    16SB 2016 FS GOLD UNC 1/2 OZ – NIXON 1,622 (3)
    16SC 2016 FS GOLD PROOF 1/2 OZ – FORD 2,348 (4)
    16SD 2016 FS GOLD UNC 1/2 OZ – FORD 1,611 +1
    16SE 2016 FS GOLD PROOF 1/2 OZ – REAGAN 3,406 (1)
    16SF 2016 FS GOLD UNC 1/2 OZ – REAGAN 1,884 +1

  30. cagcrisp says

    Guesstimate Winner Was…

    Joe M. 32,345

    Congrats…Much Stronger Sales than I Anticipated…

  31. cagcrisp says

    Correction…

    Once Again the 2017 American Liberty Gold Outsold the Other 1 oz. Golds…

  32. data dave says

    @Mr Kairu – What’s interesting in that Provident is not stocking the latest 2 oz privateer even though the used to have all of them. It seems a few other places have them. Does make me wonder if they are struggling.

  33. joe says

    I’m still putting in small orders with Provident…no issues yet.

    @data dave – Thanks for the heads up on the latest Privateer Whale coin…I just placed an order. No doubt I would have missed it otherwise since I typically get them from Provident and (as you said) they’re not carrying them.

  34. earthling says

    Alright, a great week for the US Mint in spite of its weak lineup of Coins & Medals. Congratulations to Joe M. for the great sales forecast. Now for the real game – how many additional sales vs returns?

    I still think there needs to be a Clad Half Dollar with the 225th Liberty obverse. Get them out there at face value. Do something for the kids and non-Numisnuts out there.

  35. Barry says

    Provident had and probably still has the best price on the QB one oz. silver coins. The dragon design has been at a “any quantity” price for some time. I’m wondering when / if the QB griffin and dragon will be issued in the 10 oz. size.

  36. Barry says

    I’m also surprised there was no “Whale” silver round at Provident. I think they also didn’t have the Chiwoo silver coin from Korea.

  37. Brad says

    Any chance of getting the ads placed back on the right side of the screen? This backwards look after all these years is a DRAG!

  38. You Can't See Me says

    Which mintage figures should be trusted, the US Mint website – Historical Commemorative Coin Sales Figures page or the 2018 Red Book?
    The figures do not match for past programs in 2007, 2009, 2010 (Veterans), 2012 (Star Spangled), 2013 (Generals). Big miss on the March of Dimes proofs in the Red Book. They did not include the proofs sold in the dime set. Should be closer to 132,030 versus the list of 32,030.

    I have not compared every year but shouldn’t the Red Book be updated yearly?

  39. data dave says

    6100 more Effigy pucks just sold brining their total to 35K. That probably puts all 3 2017 issues at SO levels. Seems interest in buying bullion is bouncing back a little. On the P puck side things are lagging and probably will continue that way. The $50 premium is a little steep. Effigy P just inched past Denali to move up to 5th from the lowest but Douglass P is still the lowest weeks after its release.

  40. data dave says

    @joe – Where did you get the HR Whale at? I need to pull the trigger on that on.

  41. joe says

    @data dave – Figured I’d better jump on it since I have no idea when it was released. I ended up getting it at JM Bullion. I compared to a couple other sites (I don’t remember which ones) and eBay. With JM’s free shipping, I probably saved $5 on the two coins I purchased based on the BIN prices on eBay.

  42. Sith says

    @Mister Kairu – ” was wondering was the talk of red-flags just meaning that ordering directly from them could be risky?” – Yes that was the discussion.

    Summary: :
    Elemetal, LLC is a privately owned company, and the parent company of 45 companies, including Provident Metals, and Elemetal Refining. LBMA dropped Elemetal Refining from their “Good Delivery” list as they were caught using illegal gold. That was the end for Elemetal Refining, and they became unable to make payments to customers. Scotia Bank (which has a lien on refining metal as soon as it is delivered to Elemetal Refining) discontinued their line of credit and wanted to get paid back. Elemetal said that they are confident that they will be able to pay all their customers within six months, and that by delaying the payments they could avoid bankruptcy.

    “While Elemetal Refining, LLC is shutting down its gold and silver refining, there is no indication that any of their other businesses are affected. ..Provident Metals, while they would not answer my questions (which I see as a red flag), appears to be delivering quickly (slow deliveries were the biggest sign of financial problems with Tulving, Bullion Direct, and NWT Mint).

    I was not able to lin the Coinwold article

  43. Mr. Kairu says

    Thanks for the clarification! 🙂 Also I bought my Privateer “White Whales” from silvergoldbull as they had prices down in the $40s when ebay was still in the $80s. Also just checked and it is lower than JMBullion by a little as well.

  44. Tom says

    For those that purchased Provident and Elemental silver bars, does anyone believe the re-sell later on will be a problem?

  45. Mint News Blog says

    Brad, I agree — it feels peculiar to have them on the wrong side of the screen. The placement changed automatically as a result of a WordPress update, and I have yet to figure out how to override it. A similar (non-)improvement occurred with our Coin Update blog site. As soon as I can solve the puzzle, I’ll get things back where they belong.

    Diana

  46. Mint News Blog says

    You Can’t See Me, I’ve forwarded your question to the publisher. In the not-too-distant past, when I was the production editor for the Red Book, all production figures we received came directly from the U.S. Mint, which would also notify us when the figures were audited and considered final. I believe that is still the procedure, but Whitman’s publisher can confirm or correct me on it. I do know that the Red Book’s mintages are reviewed and, if applicable, updated every year. Given the thousands of data points in each edition, it’s always possible that a figure might slip through the cracks. It’s also possible that the person in charge of updating historical production figures at the Mint missed a few — or that new, internal information led to edits of the historical mintage numbers, but no system was in place to alert publishers.

    In any case, we’re looking into it and will let you know what we find out.

    Thanks for your question,

    Diana

  47. You Can't See Me says

    Thank you Diana. Some of the mintages were updated on the mint website late last year so they may not have made it into the 2018 edition. The mintages are off as far back as 2005, sometimes wildly off.

  48. So Krates says

    The Red Book is pretty much considered the Bible in the coin universe and has little competition. This dominance can often lead to a culture of less diligence. I just noticed a glaring error the other day in my 2017 70th edition. On the first page of the Morgan Dollars (p.230) the image that is supposedly depicting the 1878 8 Tail Feathers reverse, shows the 7 Tail Feathers reverse. I can’t imagine how much more confusing this wrong image makes these multiple variations to a newbie.

    Recently there was an example much closer to home, so to speak. An article published here contained at least three errors. Two of which were pointed out by readers in the comments and have yet to be corrected. It wasn’t the first time a mistake was mentioned in the comment section but was left to stand in error.

  49. Louis Golino says

    Got my Ozark bullion pucks today. Very nice design. I don’t care what anyone says, I
    still like these in the bullion format for the $. It is the P coins I am wavering on at current prices.

  50. So Krates says

    Anyone know if the legislation mandates a $1 face value on the proposed 5 ounce space coin? It highlights the irrelevance of denomination when coins containing .77344 troy ounces and 5 troy ounces of silver have the same face value. It is a travesty that the ATBs with a market value in excess of $100.00 still have a face value of $.25.

  51. Louis Golino says

    Np, they are $5. You can see by looking at the images posted on the USM site that were considered today by the CCAC.

    I got my Ozarks for $106 each with free shipping and capsules included at BGASC by pre-ordering about 10-12 days ago.

    By the way, if you want a Scottish unicorn proof silver 1 oz., move fast, as they mint sold out super fast and prices are rising.

  52. So Krates says

    Public Law 114–282
    114th Congress
    An Act
    To require the Secretary of the Treasury to mint commemorative coins in recognition
    of the 50th anniversary of the first manned landing on the Moon….

    …(4) PROOF SILVER $1 COINS.—Not more than 100,000 proof
    $1 silver coins which shall—
    (A) weigh 5 ounces;
    (B) be struck on a planchet having a diameter of 3
    inches; and
    (C) contain .999 fine silver.

    Unless it’s been amended, it looks like we’re getting two $1 coins, one in traditional weight and purity and one puck. The links posted yesterday showed drawings reflecting this.

  53. Erik H says

    Louis, I received my silver proof sets the other day and was impressed by the Ozark quarter. If the 5 oz ATBs were done if proof and not vapor blsated they would look awesome.

  54. earthling says

    I’ve used a vapor blasting machine at work to clean my robots. The air blast alone will knock off dust and even paint but the granular solid CO2 freezes grease and other contaminates and blasts it off like sand blasting. Have we ever had milk spotting on any Pucks? I would tend to doubt it – oils, soaps, any type of residue is gone!

  55. says

    In know I’m way OT but since it was mentioned, does anyone know if the Queen’s Beasts 1oz proofs were done for the Griffin or the Dragon? I found them for the Lion and the Unicorn but never found the 1oz proof for the other two…the RoyalMint website does not list past coins that are SO and I’m having trouble getting info on this. Sorry if this is too OT.

  56. Louis Golino, Author says

    @Mike the Greek- Not yet. They skipped over the others for the proofs but I think they ill come later.

  57. Louis Golino says

    I made an error yesterday about the Apollo 11 5 oz., which will be a $1 coin. the $5 if the usual gold 1/4 oz.
    I agree the moon puck should have a higher denom.

  58. Mr. Kairu says

    Can’t wait for the bullion 2oz Unicorns. Love this series but they are definitely prone to milk spots… so probably best for me to get a couple to choose from and sell the others to make my money back at least.

  59. says

    MCM is likely to have them as well, currently you have to call for pricing, which is probably a call to GovMint, though MCM is likely to have them at a more realistic price in short order

  60. cagcrisp says

    New Gold clock Started Today.

    Will be interesting to see IF we Hold $1,250.00

    AM Gold Fix $1,251.40
    PM Gold Fix $1,250.80…

  61. Mint News Blog says

    @So Krates: YIKES. If an error has been allowed to stand in a blog post, it’s because I overlooked the comment, not because of indifference. I’ve clicked back through several pages’ worth of comments but haven’t found the ones on the errors you mention. If you’d point me in the right direction so I can update the posts, I’d be very appreciative!

    As for the Red Book, please be assured that the editors do take errors seriously. It’s an awful feeling when a reader points out a mistake that’s going to be sitting there on the page, like a cockroach on a wedding cake, until the next edition. Book publishing is a complex endeavor, and errors are inevitable — but the editorial staff follows strict protocols to minimize them, and they flag them for correction as soon as they’re found.

    — Diana

  62. cagcrisp says

    Update on the 2017 Congratulations Sets…

    There was a PCGS PR70DCAM Sold at Auction yesterday for $191.41

    There was a PCGS PR69DCAM Sold at Auction yesterday for $103.00

    This seller has Sold a boatload of 69s and 70s in the past.

    This is the Lowest he has Sold a 70 and the 2nd Lowest for a 69…

  63. says

    Product Schedule has been identifying 41 items listed,

    Now it’s 42

    Has anything changed?

    Is this a new addition?

    JUN
    29
    2017

    American Eagle 2017 One Ounce Silver Uncirculated Coin

    Maybe I’m loosing my mind though I do know it’s been 41 items for a number of weeks.

  64. says

    Thanks Cag for the status update, when the LESPS is released, all bets will be off!

    She’s dropping like a rock

  65. says

    If you want a Queen’s Beast Proof 🦄, in wouldn’t screw around,

    Another 30 has been made available with a $10 increase in price, it’ll be $139 soon, most likely.

  66. says

    Sith –
    Thanks for the Elemental run down, I hadn’t the time to follow it closely, I’m still holding out for Provident to get the 🐳 , then the price point should come down.

    I am of the personal opinion that Elemental is executing a controlled release of the Whale to maximize profit, and the excerpt may support that belief. Provident would likely be the last to offer it if that is their strategy.

    Very unfortunate about the Fitzgerald collision, I have several retired Senior Chiefs supporting my program and we’re all scratching our heads on this one, the details are getting more horrific, sadly enough.

  67. sharks2th says

    @KCSO – The mint seems to be removing sold out items from the schedules so the item count on the product schedules keeps being adjusted. If you look at the 2016 schedule, they have removed the Sold Out pucks and the Plat Proof. This is a bad practice because unless you save the schedule a few times a year, you will have to search to find out when similar items were sold last year. The Plat Proof was sold the week of July 4th last year, like it will be this year. I noticed the Plat Proof missing from the 2016 schedule quite a while back and figured it was because it was sold out and they didn’t want to waste the server space keeping up a sold out item listing. Maybe they are playing with the Congrats Set being up or not on the list. The 2017 Congrats Set is currently up on the list even though it is unavailable.

  68. HarryB says

    OT: Reguarding the Moon Landing 5oz puck monetized at $1, I asked a staffer when the legislation was before the House why only $1 for the 5oz, and was told that Treasury would not support the legislation if the value was over $1. I did not ask why, often there is not an answer when dealing with staffers. Thinking back over my studies of US coinage, I do not recall any US silver coin monotized at over $1. I assume there is some law, regulation, rule, or custom which addresses this. i do not recall any US Mint produced gold coin valued at less than $1,

  69. cagcrisp says

    @HarryB, “i do not recall any US Mint produced gold coin valued at less than $1,”

    The Winged Head Liberty Gold Dime…

  70. cagcrisp says

    ^
    The Standing Liberty Gold Quarter…

    The Walking Liberty Gold Half…

    The Kennedy Gold Half…

  71. Sith says

    @KCSO – Yes, the Fitzgerald collision is a head scratcher. Prayers to the families for their loss

  72. So Krates says

    Diana, I try to limit the nit picking but the subject was broached. In the comments section of the May 31 article about the AGE UNC release, joe questioned the date of issue, I pointed out that the fineness is .9167, and Gary noted the engraver’s name is Sherl. Only the release date has been corrected. In addition, a few months back someone commented that Representative Ron Paul was incorrectly referred to as Senator.

    I enjoy the more original flavor of the blog since you joined us and don’t mind a few minor errors (as long as they are corrected when noticed). Thanks and keep up the good work.

  73. HarryB says

    @Cag: thanks, I own each of the tribute coins, Any Silver coins produced by US mint face valued at over $1 that I missed.

  74. cagcrisp says

    @HarryB, “Any Silver coins produced by US mint face valued at over $1 that I missed.”

    None that I’m aware of…

  75. Buzz Killington says

    @SK —

    Regrettably, the invisible pink unicorn is invoked on ALL United States money, and not just in the background.

    In fairness, my trust in the IPU has never been let down.

  76. Mint News Blog says

    Thank you for pointing out the errors (and for your kind words). I’d like to add that, in the caption that incorrectly described Ron Paul as “Senator,” the error was mine and not Mint Director Moy’s.

  77. Dustyroads says

    Here we go again with the atheistic rhetoric. This is what you will find in mature Christians–

    “For the kingdom of God is not a matter of eating and drinking, but of righteousness, peace and joy in the Holy Spirit.” Romans 14:17

    “Whoever does not love does not know God, because God is love.” 1 John 4:8

    There is not much more other than what is stated above. People have always looked for more but typically arrived at the above understanding. If you have had a bad experience with someone who has tried to control you or others, know that they are out of line.

  78. You Can't See Me says

    @HarryB
    The 2000 Leif Ericson silver 1000 Kronur (Kroner) should count.

  79. KML in KY says

    Flipping’s not what it used to be. I sent 27 of my 30 2017-S ASE’s to Great Collections to sell for me. Although San Francisco coins usually grade well I got only 13 70’s and 17 69’s. I’m hoping to make enough to get a tube of the next 5 oz ATB bullion coins when they go on sale. With MCM and others depressing the prices who knows.

    Did anyone else get an email from MCM trying to sell the “record low mintage” National Park Service coins to “preferred customers”? I sold some NPS 70’s on Great Collections. The unc golds went for $488.40, $490.35, $577.50, and $644.70. The unc clad halves went for between $80.00 and $125 approximately. The proofs and unc dollars went for a smaller premium. Not a huge profit for a record low mintage but at least I made a little. I kept 1 complete 70 set for my collection/hoard.

    I have largely been able to finance my coin hobby by reselling coins and I’ve had a lot of fun doing it. The modern coin market sucks right now. It’s not a good time to sell but it is a good time to buy selectively. It would be nice if the Mint had more surprises this year like the 2017-S ASE’s.

  80. cagcrisp says

    @KML in KY , That’s a good useful report with actual numbers.

    If I understand you correctly, you are trying to Clear enough money on 27 submitted “S” to purchase 1 tube of the next 5 oz bullion pucks?…

  81. says

    KML in KY – GREAT post! Thanks.

    Did your NPS $5’s auctions all end at the same time, or over a period of a week? Did they sell higher as they sold and decrease?

    I’m just curious, as it’s been my observation that there’s little to no demand on the bay.

    By the way, spent Father’s Day with pops on Lake Cumberland striper fishing, man I love that place. There was a Poker Run on Friday, sounded like I was at an airshow, impressive!

  82. Gary says

    @KCSO… The U.S. Mint modern coin market demand is so low, it has to go up to be down. Since precious metals hit the skids starting in 2012 most U.S. Mint precious metal items have been surefire losers.

  83. cagcrisp says

    Concerning the Proposed 2018 PROOF $10 Gold American Liberty 1/10 oz. coin:

    1. It COULD be Priced as High as $300
    2. It COULD be the Start of a new series

    I made My case for $225.00. I could EASILY see the Mint going to $300.

    Low Mintage, High Prices.

    After the Dismal sales of the Only Large profit makers for the Mint in 2017, I don’t see ANY possibility for the Mint to go in ANY other Direction.

    The Mint NEEDS the Revenue and they NEED the profit.

    Higher prices, lower mintages and selling to Dealers/Big Boys is the way to achieve that goal…

    http://www.coinworld.com/news/us-coins/2017/06/coin-designs-receive-ccac-recommendation.html

  84. earthling says

    How soon will Mint stuff require a mortgage to get into it? Call 1-800-Quicken to explore ownership of ALL 2018 US Mint Gold and Silver new issues. Be the envy of ALL your lessor privileged friends. We have terms for 5 year, 10 year and even 20 year plans. Call today !

    1-800-QUICKEN

    don’t be an unlucky clucky Chicken

  85. says

    Oh My –

    cagcrisp says
    JUNE 23, 2017 AT 4:29 PM

    http://www.coinworld.com/news/us-coins/2017/06/coin-designs-receive-ccac-recommendation.html

    The CCAC has considerable more clout than the CFA, this could be a game changer! Will be interesting to watch this one play out…

    Steve – I had the pleasure enjoying the laser light show at Stone Mountain in early June , it told a good story as to why we need to respect and appreciate the past, though move forward as one Nation, United.

    The tribute to our Veterns was beyond, touching.

    I could only hope our lame ass government could sit there butts down, get the message, and move forward for unity and progress! Now that dog would hunt!

  86. Barry says

    btw- (APMEX)Random year 1 oz. AGE proof is currently $ 270.00 below the mint’s price for the current year coin. The mint is competing with it’s own products at a much lower price. This is why they need to at least change the design periodically. They also need to bend the ear of Congress to loosen restrictions on their operations.

  87. Erik H says

    The reverse of the 2020 NA Dollar is nice. I can’t wait to pick it up in the Enhanced Proof. I really like this year’s NA Dollar reverse too.

  88. says

    Appears the APE will show up at $1,300 on Thursday

    Platinum has been sucking hard these last few years.., seems as if Palladium is the new ‘other white meat,’ oops I mean metal

  89. KML in KY says

    KCSO – My unc gold NPS coins ended at different times. The first ones went for more money. I like commems and pretty much buy them all but I will be buying fewer of them in the future. I have always bought extras and sold them to help finance my hobby but that doesn’t work too well at present in most cases. There are certain exceptions with commems like I’m sure the Apollo 11 coins will be.

    Cagcrisp -I would like to get more than enough from the “S” ASE’s to get a tube of the next 5 oz ATB’s. Great Collections has not got them listed yet. There are a lot of big dealers unloading these right now. While they will probably do alright I am not expecting to get what they were going for at first. I will get the ATB’s regardless. I have been buying at least 1 tube of each as they come out since 2011 and will continue to do so as long as I can afford it. Due to the low mintages and varied designs it’s my favorite way to buy silver bullion.

  90. cagcrisp says

    @KML in KY, Thanks for the Reply.

    I think you have Honestly summed up the Chalenges of modern coinage…

  91. earthling says

    1-800-QUICKEN ?

    No joke, I think any day now, there will be Numismortgages offered to all the silly geese wanting to load up on PM Products from the US Mint. The only requirement? You store your purchases in the Quicken Vaults in Texas.

    This is probably going to make loads of money for someone, really soon.

    😉

  92. earthling says

    johnaz

    If you were to offer such a thing I think it would succeed. Look at those crazy Title Loan places, Payday Loans, all that BS , they actually do business.

    Makes no sense at all to a dunce like me.

  93. KML in KY says

    KCSO – If the US Mint sold the platinum proof for $977 I might buy one. I have usually bought the US platinum coins and many of them were winners but I think I’m going to hold off this year. It’s a shame the best they could do for the 20th anniversary is the same reverse they have used on bullion coins for the past 20 years. If the mintage was 5000 I might consider it although low mintages don’t seem to mean to much at the present time. I’m sitting on a bunch of low mintage modern coins that I would make little to no money on if I sold them now. That goes for the certified 70’s I would be guaranteed to lose money on the 69’s.

  94. Dustyroads says

    KML in KY, What I have sen in my experience during my relatively recent abduction into modern numismatics is that there are only a handfull of moderns that should hold values well enough, all the others have been no more than flashes in the pan. That’s not a bad thing for us who realize what is happening however. I don’t consider myself a flipper, but I have bought and sold many times for the purpose of legitimizing buying an other wise expensive, but desirable coin.
    I’ve expressed some ideas here before about what could be the reason for such lethargic enthusiasm for lows, but they are only opinions.
    cagcrisp laid down some good ideas about where the Mint is headed and I’m inclined to agree. We will know more about whether those ideas are correct or not with the announcement of pricing and packaging for the proposed fractional $10.00 .9999 gold HR Liberty coins. If the USM does in deed raise the price and attempt to draw us in with bigger and fancier packaging, then we all should know the USM is taking ques from the Australian Mint, RCM and others, ie boutique. Not to worry though, there will be some awesome issues coming down the pike.

  95. johnaz says

    I hear at a coin show that ngc is going to make a Miles Standish holer for his head shaved at ana show a small photo on holer. How much will that cost.

  96. earthling says

    Whatever happened to the POGS Market? This was a strange fad born of Hawaiian Bottle Caps. It was hyped and promoted into just a push of circular Cardboard merchandise. Values on this fluff was created like so much crypto currency. How high did this junk go? I’m not really sure, I never really paid attention to it. I think POGS are totally dead but to be honest, I wouldn’t want to waste any time finding out.

    It’s really sad but Coins are looking like POGS lately. There’s a flood comming from every direction, exactly like POGS at their highpoint. The attention once directed to Coins , is fading fast. Mintages are comming down like an avalanche. Look out below. Get caught up in an avalanche, you can get hurt really bad.

  97. Dustyroads says

    earthling, I eventually got around to thinking like coin guy at some point. I think I’m on the right track being cautious of the lessor know issues which will inevitably have a smaller drawing than the more main stream classic like issues. I know there are so many people around who gravitate towards rounds like Privateers and Zombucks, but even those, though they are fairly cool, seem to go the way “of out of sight , out of mind”. Right now the tribute coins are struggling, but they are cool coins which will be collected in the future. Don’t count everything gold and silver out just yet. If coin collecting has been around for thousands of years, I can’t believe it’s going to just go the way of some silly bottle cap collecting fad. While the coin collecting hobby undergoes what I believe to be a few adjustments, we of course are going to be challenged, but if you look at the history of coin collecting, it’s never been a straight line. I’m in it till I die, be it today, or later, I enjoy it.

  98. Buzz Killington says

    Pogs were pushed, very briefly, but I don’t think they ever caught on.

    They were borne of the baseball card boom. where valuable collectible items could quite literally be printed at will.

    The same is now true of coins. Some private mints are making beautiful designs on silver & gold tokens that previously would have required the resources of a government to finance. Although it can be fun to collect the designs, what we are really buying is the expensive canvas on which the designs are minted.

  99. cagcrisp says

    AM Gold Fix $1,240.85

    Gold and Silver Both took a leg Down this morning.

    Y/Y Gold is Down 5%

    Y/Y Silver is Down 7%

    (Keep in Mind that Brexit vote was 1 year ago)…

  100. Hidalgo says

    Gold and silver are down after the Federal Reserve increased interest rates and was viewed as being more “hawkish” than expected.

  101. John Q. Coinage says

    KML good prices on the clad NPS> I got a few AU unc;s but missed the mintage #s on the clad half…. Buzz the POGS went for a year or 2, they are even pretty much dead in HI, some school kids still collect them- coins are slowly becoming stamps, the catalogue value for the NON rare items is never close on US Stamps, the US coin market has a double whammy less collectors being minted (kids have very little %, need some kind of coin app which REWARDS them….I have no clue how to make an app, but that is an area ANA or others need for outreach, as WE die off, whose buying our stuff? Someone will always need a PCGS 09-s VDB cent, but alot of the stuff MCM & other promote are akin to the GEM US stamp craze of the 1980’s stuff went for 10-30x catalogue, yo’re lucky to get 50% now for a choice NH. Baseball cards wenbt into hyperproduction & Upper Deck Bowman, Pannini, Topps, Fleer, et al. killed their own gpose- the mint has frustrated & po’d true collectors with their BS that many no longer care, I am one, after the SLQ Au, I passed on the W/L from the mint, got one on ebay for about 100$ less……both AU & AG are very rangebound & silver goes up to 19- they take profit$ & back to 16.5o’ish….etcetera…..

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