This article was originally printed in Numismatic News.
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That’s the big difference for those interested in buying 2011 America the Beautiful 5-ounce silver bullion coins, compared to the furor surrounding sales of the 2010 coins.
“Interest is pretty brisk,” said Ken Pines of Coast to Coast Coins and Currency. “Silver has come down a bit and premiums are back in line with what people think they should be.”
Although the 2011 bullion coins honoring Gettysburg National Military Park and Glacier National Park are being sold by the U.S. Mint to a network of nine Authorized Purchasers, it did not continue the limitations on price and distribution set for the 2010 coins.
“Last time we had to buy off the secondary market, which was very expensive,” Pines said. “Our cost was high and the cost to the customer was high.”
There are also more coins available, 126,500 of each of the five 2011 coins will be minted compared to 33,000 for each 2010 coin.
“Now they are pretty much treated as a bullion item,” Pines said.
But 2-1/2 weeks after the first two 2011 bullion coins were made available to the nine AP’s, there were still 1,300 of each coin still in inventory at the Mint.
In this issue of Numismatic News, Coast to Coast advertises the 2011 bullion coins at $202.90, but Pines said that’s sure to change as the price of silver fluctuates.
“We have a computer system set up as a commodity feed so it’s lock step with the market,” Pines said.
That means prices will go higher or lower as the price of silver goes higher or lower.
“It’s a true bullion piece now,” he said.
As for the 2010 uncirculated collector 5-ounce ATB silver coins honoring Hot Springs National Park, only 134 were still for sale from the U.S. Mint on May 11.
The Mint had put them on sale May 4. On May 17, the 2010 uncirculated collector 5-ounce ATB silver coin honoring Yellowstone National Park was set to go on sale.