I understand limited production capacity, which certainly may be an issue, and it is why announcing that the mules are not limited would be a no-cost way to reduce their value to prospectors.
That said, these mules go for a fair bit of money even new. A fixed blade in a production run of over 500 units with no sheath, no handle, just a cardboard sleeve sold direct from the Manufacturer (no dealer markup) in a box for 80-90$?
The first mule was 52100 and was 79.95$ http://www.spyderco.com/catalog/details.php?product=283
The latest mule was S110v (don't we know it) and was 89.95$ http://www.spyderco.com/catalog/details.php?product=65
A quick sampling of the blades in between yielded similar prices.
Quick comparison, you can pick up a Spyderco Endura in ZDP-189 brand spanking new for about that or less through one of their dealers. I'm not suggesting it is dirty for Spyderco to be making a profit on these, not in the least, but if "at cost" for one of these where "Product runs are limited to 600 – 1000 pieces of each steel type" (ref. TazKristi) Spyderco would have to have some MAJOR cost issues in their production chain. Remember, when selling to dealers, Spyderco probably gets less than that for a Paramilitary2 for example. Yeah, while there is the occasional screwup (like the botched HT on MT12), I'm guessing Spyderco does just fine selling these blades.
