LOL. Yes you are missing something. It is a common misconception though. Molybdenum in its manufactured form is expensive - about $75.00 per lb. but that is not all that goes into making coins.

The blanks themselves are made of sheet molybdenum to a certain thickness and then cut out by a cnc wire cutter. They cost about $9.00 per blank. Then after shipping from China to U.S. and doing quality assurance, the blanks go to Utah for minting where they debur and polish the coin blanks. Other cost factor are the design of the coin and the dies. The dies are very expensive at $600 per pair.

Unfortunately molybdenum is very hard and ineleastic so many dies have muchroomed on impact rendering them useless. Also about 5% of the blanks crack. The mint has to strike each coin about 10 times so that the moly doesn't peel apart in layers. 50% were thrown out the last batch due to minting error.

The mint charges $3.50 per coin for minting and the plastic cover and velvet case cost another $3.50. Then there is the shipping and all the phone calls.

So you can probably see that there is very little profit in a $27.00 coin. I would like to sell them for $49.95 if possible and have sold many at that price.

This is one of the most unique coins in the world as there are no other 1 ounce pure molybdenum coins. There is a limited minting of 1000 coins of which I have sold about 265.