Wont deter me! will deter them though! Especially if they line up at 8am and dont reach the counter until 10am.
More and more, I am thinking the Perth Mint will sell out the 1oz on Day 1. People will fight for leftovers from overseas sellers such as APMEX.
do you reckon they have 300 000 minted already? I'm certain they'll have no stock left, heaps of backorders maybe?
I wouldn't hold my breath on that either. They're going to send a massive percentage of what they get to PCGS and NGC to maximize their profits. The exact same thing they tried to do with the 2010 ATB 5oz coin until the US mint stepped in. It's just the way it is. If they have the opportunity to increase their margin on something that comes along once every 12 years, can you really blame them?
Perth Mint probably don't have the balls to step in. It'll be a gougefest. Gonna just get 1 roll and be happy, hopefully.
The way things are going, silver might be $40.00 per ounce by then, or it may be $30.00. Steve is offering a guaranteed buy price premium, without knowing what spot will be on that day, with no commitment required upfront from sellers. He is offering a reasonable option with no potential risk for anyone except himself.
Under the guise of price fixing, perth mint has openly stated they can not control retailer's price. I am not sure if giving and publishing a clear RRP would fall under price fixing. If perth mint made it mandatory for distributors to display perth mint retail price, that should lessen price gouging by informing consumers of its original price. While at the same time not price fixing. But is perth mint going to do so? Dream about it suckers, you are gonna get gouged and I am not going to do a single thing. That's their answer (my interpretation).
......................there was a thread here that asked the question of " how long it would take to run dry of 1oz dragons"........i think i guessed 2 days!!!.......hahahaha.....i may be close because ........and i am out on a limb now.............the first day will be crazy - then they will open on day two and realise they have none left.......2 days (fingers crossed!!!).............hahaha
It's not a "guise". Unfortunately that's the law. A supplier cannot dictate to a retailer at what price that retailer must sell the product. Super heavy fines if they do. "RRP" is just that - a Recommended Retail Price - it's not a fixed price (which is illegal) - and retailers can sell for more or less as they see fit. There is not much the PM can do about what a retailer chooses to charge for a particular product.
Yes, but all they could have done to alleviate is make distributor display the rrp. That is not price dictating, but directly informing customer how much perth mint was selling for and how much they are being gouged at the point of purchase.
Hard to put an RRP on something that moves with spot. Anyway, where's the fighting gone, I need my afternoon entertainment at work guys!!!!
And if the distributor chooses not to? Again nothing PM can do about it - cannot withhold supply or attempt to control prices (which is effectively what you are suggesting).
No it's not - a RRP is what the supplier believes is a reasonable RRP ie end-user price after allowing for standard industry markups on that type of product, transportation etc etc. Not what the retailer bought it for directly from the Mint. ie retail price vs wholesale price... the RRP is the retail price, you are suggesting the Mint make the retailer tell a customer what the wholesale price was and therefore a customer can know the markup was 40 % or whatever. I cannot think of many (any??) products where that happens.
True, no one does such a thing. Unless that company tries really hard to prevent price gouging. At this point perth mint has completely fulfilled its legal obligations to the public. So, price gouge or not, their end of the deal has been fulfilled. I was just talking out of my mental rectum again hoping for a company that gives a damn about the end user. Stop arguing with me, I am bringing you down to my level.
