America the Beautiful Coins $500 profit

[inflationhawk]

Could this be Jack Hunt's exist strategy? $3,000 x $949 = $2,835,000.

Because they are under $1,000 he can easily cash them in succession without hassle and without needing "manager approval".

Hm, I'm rethinking my position.

I think I'll go watch "Heat" and see what I think afterward

A scam for $2.8 million? I don't think you understand the scale at which these authorized purchaser from the US Mint deal in. Learn more here: http://www.usmint.gov/consumer/?action=americanEagles

Call the US Mint Monday and ask them questions if you doubt them.

[barrytrot]

Could this be Jack Hunt's exist strategy? $3,000 x $949 = $2,835,000.

Because they are under $1,000 he can easily cash them in succession without hassle and without needing "manager approval".

Hm, I'm rethinking my position.

I think I'll go watch "Heat" and see what I think afterward

A scam for $2.8 million? I don't think you understand the scale at which these authorized purchaser from the US Mint deal in. Learn more here: http://www.usmint.gov/consumer/?action=americanEagles

Call the US Mint Monday and ask them questions if you doubt them.

The qualification for the ATB coins is nothing more than buying 2,000 of them. That's not nearly as tough as the rules for the ASE's.

20,000 ounces x 25 = 500,000. Still a profit of 2,000,000.

[Tourney64]

There is a direct link from http://www.jackhunt.com to the http://www.jackhuntatb.com web site, answering concerns about the recent creation of the Jack Hunt America the Beautiful URL being just recently registered. There are no other Jack Hunt Coins Web sites except the one listed above. I believe that the no phone calls about this program is he is limited on his income and the demand will be too overwhelming to spend tons of time spending resources on the coins. I still believe this to be as legitimate as I did orignally. Anyone wanting to see if there is problems will most likely lose out on the deal.

[inflationhawk]

In order to become an authorized dealer with the US Mint, the company needs to have a net worth of at least $50 million and a proven ability to deal in high volume.

[barrytrot]

In order to become an authorized dealer with the US Mint, the company needs to have a net worth of at least $50 million and a proven ability to deal in high volume.

Actually according to the document it is:

"The auditor will perform the audit in accordance with generally accepted auditing standards and will express an opinion on the financial statements presented by the company attesting that the applying firm possesses tangible net worth of at least $10 million for the last three of its fiscal years."

But still, you are right. I stand corrected that 2 mil is probably not Jack's exist strategy.

However, if it is scammer, then their exist strategy could easily be this

Although I'm back on the side of "buying" again

[inflationhawk]

Here is a good resource for the (not entirely unreasonable) doubters on here to help you make up your own minds.

http://news.coinupdate.com/us-mint-esta ... tion-0572/

I am posting all this info to help out my new friends here at Realcent. I've taken quite an interest to this penny sorting business and have this site to thank for all that I've learned.

[barrytrot]

Here is a good resource for the (not entirely unreasonable) doubters on here to help you make up your own minds.

http://news.coinupdate.com/us-mint-esta ... tion-0572/

I am posting all this info to help out my new friends here at Realcent. I've taken quite an interest to this penny sorting business and have this site to thank for all that I've learned.

"Authorized Purchasers may charge to their customers a price no higher than ten percent above the price at which the Authorized Purchasers acquire 2010 America the Beautiful Silver Bullion Coins from the United States Mint. "

Ok, that would explain the hella-high shipping cost, the only way he can squeeze some legit profit out of it.

Man, I'm almost ready to go for a third coin

I'm a believer and definitely in for 2.

[inflationhawk]

I had always thought it was a minimum net worth of $50 million, but after looking into it more it is actually different levels depending on if you are trying to be an authorized purchaser for silver, gold or platinum. It is $10 million for silver, but $25 million for gold and $50 million for platinum. Good catch!

[barrytrot]

I had always thought it was a minimum net worth of $50 million, but after looking into it more it is actually different levels depending on if you are trying to be an authorized purchaser for silver, gold or platinum. It is $10 million for silver, but $25 million for gold and $50 million for platinum. Good catch!

Do I smell the next "Realcent Group Mega Buy"?

All we need is to get together 10,000,000 and we can get our Eagles direct from the Mint That's got to be $1 or more under Monster box prices, right?

[Thogey]

The qualification requirements for a US mint dealer is not what drove me off this deal.

Nor is the integrity of Jack Hunt.

It's the weird terms. He might be just looking to deal with his established customers (and job the IRS with the cash payments).

Go get those coins. I'll probably be buying them from you at a premium.

[inflationhawk]

MTB wanted a copy of your drivers license. Amark made you sign a special document claiming you were only attempting to buy one set from them and you had to provide your social security number. With Fidelitrade you had to send a check in without even knowing if you were going to get a set. The APs all have weird rules and can be a pain deal with, but they are legit and honest.

[AGCoinHunter]

yeah its probably legitimate, but I got nervous, im backing off..... i actually really wanted one of these sets to. the no phone calls gets to me. I mean Im holding a piece of paper that shows im supposed to send them 950 bucks. the price thing doesnt bother me because I seem to remember they were to charge some set percent over their costs, and silver has recently jumped. so that all makes sense. If they let me do a simple confirmation call at their brick and mortar shop Id pay 1050 happily.

You have 7 days to pay. Call them on Monday with your order number and confirm things and put your mind at rest. Who cares what they say about not calling. You are a customer.

My thoughts exactly. I will be calling monday to comfirm the info. If they wont take my call, screw them.

[LostCents]

OK, I just spent a whole bunch of time researching all of this, all looks good.
This is obviously a situation where they don't need to work hard or take any extra
financial loss to sell the coins. They want it to be as easy and cost effective for them
as possible. Hence, the odd procedure. I'm sure they are thinking that enough
people already know them and trust them and they don't need to jump through
the hoops of difficult customers.
Everything I checked shows this as good to go....so I'm in
As always...that's my own choice and I am not recommending this to anyone.
The obvious....make your own decision.

[TXBullion]

Im in on this deal too so Ill look for posts and watch for posts. My MO is going out in the AM. Im shipping priority, hopefully I make it there in time!

[tn-dave]

I'm not sure if anyone has mentioned this but don't the credit card companies charge a percentage for each transaction (3% is the number I'm thinking). That would eat into his profit margin too. Might be another explanation for the money order only policy..

[Rodebaugh]

I'm not sure if anyone has mentioned this but don't the credit card companies charge a percentage for each transaction (3% is the number I'm thinking). That would eat into his profit margin too. Might be another explanation for the money order only policy..

correct....but thats not my problem with the deal. My problem is why no personal checks? Let them clear then ship....I do

Cashing checks and not providing the service or merchandise.....thats big time fraud. MO are more like personalized FRN.

PS: I am not a lawyer, but I play one on TV.

Anyone out there with a good idea on the law care to comment.....CC maybe?

[Treetop]

i found the main site linked through tons of other coin sites and such. the main site links you off to the site and PO box made for this deal. even the money order thing over checks kinda makes sense when you look at the volume this place seems to deal in normally. Plus hes probably pissed he cant raise these in line with spot. with checks if it doesnt clear youve gotta start all over with the next buyer, and how do you select out of millions? Im back on board myself.... It seems good to me after a few hours cross referencing....

[Thogey]

I'm not sure if anyone has mentioned this but don't the credit card companies charge a percentage for each transaction (3% is the number I'm thinking). That would eat into his profit margin too. Might be another explanation for the money order only policy..

correct....but thats not my problem with the deal. My problem is why no personal checks? Let them clear then ship....I do

Cashing checks and not providing the service or merchandise.....thats big time fraud. MO are more like personalized FRN.

PS: I am not a lawyer, but I play one on TV.

Anyone out there with a good idea on the law care to comment.....CC maybe?

He's just trying to run this deal with cash so he can show whatever he wants to the IRS.

Probabably a great deal. Let us know how it goes.

[Rodebaugh]

I am in for one set today. may try to pick up another 2-4 tomorrow.

If you can swing it E, best get on board.

[jtlee321]

I'm going to jump on this one. I have been wanting a set since they were first announced. I am not too concerned about the conditions set by Jack Hunt. He is trying to make as much money as possible on these anyway he can. He want's to avoid the processing fees from the CC companies and avoid the possibility of returned checks. Plus you have to make the Money Order out to Jack Hunt Coin Broker Inc.. It's not like your leaving it blank or making it out to some individual. Plus I just visited www.jackhunt.com and right on the front page is

"NOW AVAILABLE FOR IMMEDIATE PURCHASE

SETS OF 2010 AMERICA THE BEAUTIFUL 5 OZ SILVER COINS

Visit www.JackHuntATB.com to Purchase

Please Note: We are unable to take Phone Calls regarding ATB Coin inquiries or orders."

That is all I need. I will order a second set. Great deal guys!!

[barrytrot]

I'm not sure if anyone has mentioned this but don't the credit card companies charge a percentage for each transaction (3% is the number I'm thinking). That would eat into his profit margin too. Might be another explanation for the money order only policy..

correct....but thats not my problem with the deal. My problem is why no personal checks? Let them clear then ship....I do

Cashing checks and not providing the service or merchandise.....thats big time fraud. MO are more like personalized FRN.

PS: I am not a lawyer, but I play one on TV.

Anyone out there with a good idea on the law care to comment.....CC maybe?

Because they are REQUIRING mailing them a payment the if this is a scam they will have violated the age old "mail fraud" law. So they are in deep trouble.

*If they get caught :*

Mhahahaha.

That's the key. Don't get caught. Do something like stating "2 to 6 weeks to delivery" so you have plenty of time to move to Venezuela.

[surething]

Thanks guys for the heads up I just ordered mine. Looks legit to me......

[Rodebaugh]

Thanks guys for the heads up I just ordered mine. Looks legit to me......

what # were you.....aka this will be a gauge of how many are left.

[jtlee321]

I ordered mine last night at around 11:30 PM Pacific Time and my order was #1269.

[Rodebaugh]

I ordered mine last night at around 11:30 PM Pacific Time and my order was #1269.

Justin I was # 883 @ 6:30 eastern (3:30pm pacific)

so......that makes 386 orders in 8 hrs....or about 50/hour.

assuming a steady rate of sales....((3300-1269)/50))= 40 @ 11:30 pac.....or about 33 hours left from right now until they are all sold out.