August 7, 2002
United States Mint Announces New Authorized Purchaser Of American Eagle Silver Bullion Coins
Back to the U.S. Mint Press Release List
WASHINGTON - The United States Mint announced today the approval of
Coins ‘N Things, Inc., of Bridgewater, Massachusetts, as an Authorized
Purchaser in its American Eagle Silver Bullion Coin Program.
Coins ‘N Things, Inc., established in 1979, is a precious metals
wholesaler that purchases and sells silver, gold and platinum-related
products to customers located throughout the United States, Canada and
Mexico.
The American Eagle Silver Dollar coin is the most popular and best
selling silver bullion coin in the world, with more than 100 million sold
worldwide since 1986.
The price of the Silver Eagle, as for all bullion coins, is based on
the current market price of silver plus a small premium to cover minting,
distribution and marketing costs, and fluctuates daily due to changing
market conditions. The Mint does not sell its bullion coins directly to
the public but distributes them through a network of official distributors
called Authorized Purchasers.
Authorized Purchasers must meet strict financial and professional
criteria, which must be validated by an independent and
internationally-recognized accounting firm. The minimum ordering
requirement for Authorized Purchasers of the American Eagle Silver Bullion
Coin is 25,000 ounces. In addition, the Authorized Purchaser must be an
experienced and established market-maker in silver bullion coins, as well
as provide a two-way market for the coins, have an established broad base
of retail customers in which to distribute the coins and must have a
tangible net worth of at least $5 million.
The United States Mint currently sells American Eagle Silver Bullion
Coins to 11 Authorized Purchasers worldwide. The Silver Eagle Authorized
Purchasers in the United States are: A-Mark Precious Metals in Los
Angeles, SCB/Mocatta Bullion in New York, Jack Hunt Coin Brokers in New
York, Salomon Smith Barney in New York, Prudential Securities, Inc. (New
York), The Gold Center (Illinois) and HSBC Bank in New York, with sales
domestically and abroad.
The international Silver Eagle Authorized Purchasers are Commerzbank
International (Luxembourg), Deutsche Bank A.G. (Germany), Union Bank of
Switzerland (Zurich) and Hang Seng Bank (Hong Kong).
Contact: Press inquiries: Michael White (202) 354-7222 Customer Service
information: (800) USA MINT (872-6468)
Website: www.usmint.gov |
![[Most Recent Quotes from www.kitco.com]](http://kitconet.com/images/quotes_special.gif)