The United States Mint is committed to improving the distribution of our numismatic coin products. As part of this ongoing effort, the Mint has established a new Authorized Bulk Purchase Program (ABPP), which permits qualifying bulk purchasers to purchase a limited number of numismatic Mint products prior to their official on-sale date under an active embargo agreement allowing their resale only on or after the Mint’s official on-sale date, time, and conditions, such as household order limitations. This new program is structured to better meet marketplace product availability on the initial on-sale date by expanding the distribution of Mint products.
United States Mint Authorized Bulk Purchase Program applicants must be active members in the Mint’s existing Numismatic Bulk Purchase Program (NBPP) in good standing for at least two years, have a two-year revenue average with the NBPP of at least $500,000 annually, and have a history of full compliance with the Mint’s excessive returns policy.
This new program will help to enhance the distribution of numismatic Mint products as they go on sale, expanding the availability of our products by utilizing well-vetted business partners that have long-term relationships with the Mint’s Numismatic Programs. Not all Mint products will be offered through this program, and no more than 10% of products with limited quantities will be distributed under this program. No discounts will be given to ABPP members, and some products will carry a premium. The products available through this program will be distributed equally to Authorized Bulk members. The Mint will not ship product to ABPP members, who must provide their own product security and transport. Pick-ups will be allowed three days prior to the official on-sale date.
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About the United States Mint
The US Mint was created by Congress in 1792 and became part of the Department of the Treasury in 1873. It is the Nation’s sole manufacturer of legal tender coinage and is responsible for producing circulating coinage for the Nation to conduct its trade and commerce.
The United States Mint also produces numismatic products, including proof, uncirculated, and commemorative coins; Congressional Gold Medals; and silver and gold bullion coins. The Mint’s numismatic programs are self-sustaining and operate at no cost to taxpayers.
The new bulk purchasing system that the Mint is starting only benefits the big dealers. They will be limited on their initial purchase, but will still use shills to clog up the ordering systems. If there will still be a limit on mintages, the small collector will still get short-changed.We thought they learned their lesson in 2011, but I guess that was wishful thinking.