How investors and bullion buyers can own gold as close to melt value as possible.
Although the vast majority of clients have already had their orders shipped in full, there are a number of orders from the past month that are still open (most were due to ship in the past 10 days or next 5 days, or they were presales of 2017 issues).
As of today, an interim management team has taken over to assist with the fulfillment of all outstanding orders.
For clients that paid by credit card, eCheck or another payment method, we will be processing either a full refund or shipping either your full order or partial order (with any unavailable items as a refund).
All clients with open orders will be contacted regarding the refund method and progress on their order shipping method within the next seven days (by December 16, 2016) and all will be shipped, refunded (or a combination of shipped/refunded) within the next 14 days (by December 23, 2016).
To repeat, all orders will either be refunded or shipped (or a combination of both) by December 23, 2016).
We apologize in advance for the uncertainty and inconvenience that this action will cause and ask that you remain patient while we work through the backlog of orders that we have on hand.
As you can imagine, we are expecting a number of phone calls on this matter in the days ahead. Please feel free to leave a message and we will endeavor to return your call and give you an update. You can also contact us by e-mail at email@example.com.
Again, please accept our apologies for the inconvenience of this closing and know that we are working diligently to wind up each and every last open order.
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I've been buying and selling Morgan Silver Dollars for 20 years, and the 1921 issue has always struck me as an excellent value. It's the final year of issue for the Morgan Dollar series and has a fascinating backstory.
In a nutshell, from the 1870s through the 1920s, the federal government struck an excessive quantity of Silver Dollars. The culprit: powerful Nevada mining interests. Bowing to lobbyists, Congress passed legislation requiring the federal government to buy massive quantities of silver. The metal was mostly converted into Silver Dollars, which sat for years untouched waiting to be absorbed by banks.
In light of this surplus, Silver Dollar production was halted in 1904. Nonetheless, Congress passed the Pittman Act of 1918, which called for the purchase of even more silver. Even though there was no need for the coin, Morgan Dollar was struck for one final year in 1921. It was produced at three U.S. Mint facilities: Philadelphia, Denver and San Francisco.
It took decades for the excess quantities of 1921 Morgans to be absorbed. In the process, the coin got an undeserved reputation as being more common than the earlier 1878-1904 dates. In actuality, however, 1921 Morgans are not as common as the 1878-1904 issues. Nonetheless the false perception remains and, to this day, pre-1921 Morgans sell for a premium. This, in my view, makes the 1921 coins a deal by comparison.
As of this writing, circulated 1921 Morgans are trading for $22-$25 per coin. By contract, 1878-1904 Morgans in average circulated condition are fetching $27-$29 each. At a $4-5 discount per coin, 1921 Morgans have emerged as an excellent value. As collectors and dealers realize that the pre-1921 coins are no rarer than the 1921 issues, this premium will likely narrow. My guess is that the 1921 issues will appreciate and approach the 1878-1904 coins in market value.