This article was originally printed in the latest issue of Numismatic News.
>> Subscribe today!
Sales of 2010 proof silver American Eagles rose by just 89,109. This seems a little on the weak side considering the general frenzy for silver. However, with attention already shifted from the proof Eagle to the America the Beautiful 5-ounce bullion coin, perhaps this should not be a surprise.
Who will actually be selling the new 5-ounce coin to the public is on the minds of many collectors. Most of the 11 authorized purchasers are basically wholesale rather than retail businesses. APMEX will offer them for sure as this is written, but the price is still up in the air with the Mint’s new rules and timing.
Timing is important because silver bullion fluctuates daily. If an authorized purchaser offers the first sets it bought on Dec. 10, the price would be based on the Dec. 13 London morning price of $29.33 an ounce. That would put the cost at $156.40 a coin, or $782 for a set of five. The 10 percent mark-up puts the cost to the public at $860.20 plus shipping.