Mint News Blog

News, Information, and Commentary on US Mint Products

Wednesday, December 1, 2010

America the Beautiful Silver Bullion Coins Available December 6

Today, the US Mint announced the details for the long awaited America the Beautiful Silver Bullion Coins. There are some changes from previously reported information.

The 5 ounce silver bullion coins will be available for sale on December 6, 2010. As with other bullion programs, the coins will be sold through the authorized purchaser network, who will in turn make the coins available to the secondary market. The premium that the AP's will need to pay above the market value of the silver content will be $9.75 per coin. Premiums charged for secondary market sales will obviously be higher.

Maximum mintages for each of the five releases will be only 33,000 units each. This is one-third the mintage level that had been previously reported in some print publications. As opposed to American Silver Eagle bullion coins, which must be produced in quantities sufficient to meet public demand, the America the Beautiful 5 oz silver coins are produced in quantities that are determined appropriate by the Secretary of the Treasury.

Numismatic versions of the coins will also be made available during the first quarter of 2011. The possibility had been mentioned by the US Mint Director, although nothing had been confirmed until now. The numismatic versions will be uncirculated versions that carry the "P" mint mark. (No mint mark will be used on the bullion versions of the coins.) The maximum mintage had been set at only 27,000 units for each of the five releases.

The US Mint is either seriously underestimating the demand for the new coins, or they are simply unable to devote additional silver supplies to the product line. As posted yesterday, Silver Eagle bullion coins recently broke a long standing record for monthly sales and are in record territory for annual sales.

Based on the constant stream of inquiries and comments about the America the Beautiful 5 oz. Silver Bullion coins, it's not that difficult to predict that the limited number of coins available will quickly sell out and start trading for significant premiums on the secondary market.

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74 Comments:

At December 1, 2010 at 8:22 AM , Anonymous Anonymous said...

For the numismatic version, it looks like the Mint is making the differentiation between striking the coins and selling the coins. They say the coins will be struck by year end, but won't be sold until 2011.

 
At December 1, 2010 at 8:23 AM , Anonymous CraigL said...

Wait, numismatic versions of the 2010s? Issued in 2011??

 
At December 1, 2010 at 8:25 AM , Anonymous Anonymous said...

Will the after market premiums be different between the bullion coin and numismatic coin?? They will both be very rare!

 
At December 1, 2010 at 8:40 AM , Blogger Mint News Blog said...

Regarding the numismatic versions, the US Mint states that they will be struck in 2010, as required by law.

Public Law 110-456 states, "Bullion coins minted under paragraph... may only be available for sale during the year in which such circulating quarter dollar is issued."

So I guess they are making the distinction that the law applies to the bullion version of the coin, not the numismatic version.

 
At December 1, 2010 at 8:43 AM , Anonymous Anonymous said...

Great news about the collector versions and that they're Unc instead of proof! I hope they keep the satin finish.

 
At December 1, 2010 at 8:52 AM , Anonymous CraigL said...

Interesting.

I'm curious if they'll have an order option for all 5 in one SKU. Think about trying to put all five in your cart on launch day!

 
At December 1, 2010 at 9:10 AM , Anonymous vaughnster said...

I'm definitely in for a set or two from the Mint. It cuts out the middle man and you won't get coins already picked through by the authorized purchasers.

 
At December 1, 2010 at 9:17 AM , Anonymous VABEACHBUM said...

You're thinking the very same thing I am, CraigL: Will they be released en mass or piece per week? With the minimal numbers and the "affordability" of Silver (as compared to Gold Eagles or Spouses), the Mint eCommerce site will see a crippling user stampede that WILL bring it to its electronic knees - more so than the first year of the Spouses ever did. I agree that a "Set of 5" may be the only way to guarantee one of each specimen.

The other concern, of course, is Mint "numismatic" pricing. Cost of materials, manufacturing, O/H and margins... I'll estimate the Mint pricing for these versions at $250 each. However, secondary market pricing will skyrocket!! Hell, the secondary market pricing for both versions will skyrocket.

 
At December 1, 2010 at 9:54 AM , Anonymous Anonymous said...

These will be cash cows for the Auhtorized Purchasers. Seems like the mint is throwing the big boys a bone while the average Joe collector is screwed again.

 
At December 1, 2010 at 10:04 AM , Anonymous CraigL said...

Vabeachbum,

Yep, you and I are on the same page.

The secondary market for the numismatic versions (especially at those mintage levels) will be bonkers -- probably moreso than the bullion version. (But, like you said.. they'll both skyrocket)

I'm thinking ~$200/ea, assuming silver is right around where it's at now.

How quick of a sellout do you think we're talking? My gut feeling says less than a week.

 
At December 1, 2010 at 10:08 AM , Blogger Lasloo said...

WOW!

This will be an utter bloodbath of epic proportions with people trying to get either version.

I don't know exactly how many authorized dealers there are... my guess is less than 500. But even if you use the 500 number... that's 66 of each type per dealer if divided evenly. I'd be surprised if that stayed in their hands longer than a day. Now, realistically only the 20 some national authorized dealers will probably be the ones initially able to get them.

And only 27,000 per design for numismatic resale? Recall, the Lincoln Chronicles set had 50,000 and they were sold out in a little more than a day.

 
At December 1, 2010 at 10:14 AM , Blogger Lasloo said...

I've called up a couple of local dealers, and in each case, I was the first one to give them the news. After hearing the details, they said they probably wouldn't even be able to get to them. Sounds like they get whatever another national dealer sells to them and since the national dealers do retail as well, those dealers will probably sell the bullion themselves before handing it down the line.

I called the closest national dealer I could find on the Mint website (Gaithersburg), and they said they won't be able to do anything until Monday. Only then will they know what the premiums will be.

So, its still a waiting game until Monday.

 
At December 1, 2010 at 10:27 AM , Anonymous Anonymous said...

There were several people on earlier posts who said these would be losers and would never be worth more than spot. Care to give us your opinion again?

 
At December 1, 2010 at 11:02 AM , Anonymous Anonymous said...

Like with the First Spouses, if I'm not able to get these first issues because they didn't meet demand, I won't be buying any of the future issues even if they are easily available.

 
At December 1, 2010 at 11:14 AM , Anonymous Anonymous said...

Hooooooollllllllyyyyy SMOKES!!!

I was planning to buy a sealed monster box of each one, but at that mintage level there will only be 330 total monster boxes for each design. It looks like that is out.

Heck, I'll be lucky if I can even get my hands on the coins at all now, in ANY quantity!

You realize of course that this TOTALLY contradicts the Mint's rationale for not minting any 2009 Proof Silver Eagles, don't you? They stated that they did not want to create an "instant rarity" and disservice the vast majority of collectors, so they chose not to mint any at all. But, what are they doing now? The very thing that they were opposed to last year! I knew that was baloney, and it was just proven to me.

 
At December 1, 2010 at 11:48 AM , Blogger Lasloo said...

To Anonymous December 1, 2010 11:14 AM,

The difference between the 2009 Proof Silver Eagle and these bullion is that the bullion are REQUIRED by law. The Eagles are not.

I know everybody likes ragging on the Mint (and to a large extent they deserve it), but everyone has to remember that a majority of their decisions are based on LAW and the opinion of their lawyers. Moy's main role is to give leadership towards HOW they implement the law, not whether or not he makes collectors happy. And in terms of HOW he manages that implementation of the law is how he should be held accountable. And in that sense, he definitely could be doing better.
But I just want to make it clear, that what you would LIKE them to do and what they CAN do based on resource constraints and legal requirements are VERY different.

These will be a rarity, but not because Moy had any real power to make them a rarity or not make them a rarity. Because of the legal requirements imposed on the specifications of these bullion coins, they had a VERY difficult time getting the equipment and resources to make these bullion coins. It took this long to finally get production up and going. The law requires them to sell the bullion BEFORE the end of the year. With these constraints put forward, they were forced into selling something that will be an extreme rarity.

 
At December 1, 2010 at 12:08 PM , Anonymous Anonymous said...

It will be a total blood bath trying to get them day of release from Mint. Good luck everyone!

 
At December 1, 2010 at 12:11 PM , Anonymous Anonymous said...

I'm guessing there will be household ordering limits on the numismatic version. It could be as severe as the Lincoln Coin and Chronicles set with a one per household limit.

 
At December 1, 2010 at 12:21 PM , Anonymous Anonymous said...

Maybe a Hockey puck subscription a.k.a ATB 5 oz would work better instead of a mega blood bath server crashing scramble for the LOW mintage they are proposing.

 
At December 1, 2010 at 12:22 PM , Anonymous Anonymous said...

Yeah, my guess is that you could make a small fortune listing a presale on ebay right now. The only problem is actually getting any to fullfill all the orders. I can't wait for the race to start. This should be fun.

 
At December 1, 2010 at 12:24 PM , Anonymous VABEACHBUM said...

Spot on, as usual, Lasloo. I'll also mention the additional, proposed legislation intended to clarify and/or strengthen the Director's "business management authorities" - which I thought were defacto with the position. Given the Laws, he manages Mint resources and capabilities towards fulfilling the Requirements of the Laws. As written, the laws do not necessarily fulfill the needs of supply and demand.

Which leads to the next logical question: Are these proposed quantities of ATB bullion and numismatic coins indicative of the first year of the program and the troubled start-up, or will these proposed quantities remain representative for each year of the program?

5 Key Coins in a 56 coin series, or low pops for all? Budgets and Shopping Lists. What to do; what to do?

 
At December 1, 2010 at 12:48 PM , Anonymous Anonymous said...

What to do is buy as many as you can afford as quickly as you possibly can! A true no-brainer!

Yes, this will be fun. Even more so for those who actually manage to get some of the coins from the authorized purchasers!

I'm going to try to get two tubes of each design. I know it will cost at least $22,500 to do so (and probably more), but I don't think a $500 per coin price tag on the secondary market after the inevitable quick sellout will be out of the question, at least in the short-term. Double your money quickly and get out!

 
At December 1, 2010 at 1:41 PM , Anonymous Anonymous said...

I hope order limits are put on the bullion version as well as the collector version, in an effort to thwart the hoarders who want to milk the collectors.

 
At December 1, 2010 at 2:04 PM , Anonymous Anonymous said...

Michael, you usually bat close to 1000, but this time I think you and most of your bloggers may have it wrong this time.

The coins will ALL have imperfections due to the size and quite frankly the mark up will already done in the first round of aftermarkets sales by the dealers. I seriously doubt folks will pay large mark ups on this mega-sized "bullion".

Mintages will be way above first spouse coins and first spouse coins are made from gold (and a nice size to collect).

Months ago someone posted that mintages below 20k usually will always do well, and mintages above this number usually do not. I agree.

I'm going to skip this completely. The large Pandas and other mega silver coins have not historically done well, and the entire idea of the ATB coins is turning many folks off as the "circus" of coinage continues.
The 5ozers remind me of something the Franklin Mint would promote for a Christmas gift.

Best of luck to those that purchase the 5ozers.

-JBL

 
At December 1, 2010 at 2:07 PM , Anonymous Anonymous said...

You guys should all check out ProvidentMetals.com. Not sure if they'll be getting these in...but I have been happy with their prices on a lot of this stuff. They kill the big guys on price normally and I get my order fast.

 
At December 1, 2010 at 2:39 PM , Anonymous Anonymous said...

The big difference between these coins and the First Spouses is that silver coins are historically much more collected than gold coins, mostly because of the drastic price difference. Granted, the price of these "big boys" will be steep, but still a far cry from what gold coins cost.

I think they will have large collector appeal, since this is something new for the United States Mint and people generally like to collect series of coins. Even the First Spouses has it's dedicated followers, and new collectors came on board in pursuit of the Julia Tyler Uncirculated coin. Again, the tried and true circumstance prevails: Low-mintage coins that were seemingly unpopular during the Mint sales period gain much more popularity and price once they become low-mintage gems. These coins, the first 5 in a series of 56, should do extremely well given the micro-mintage for silver coins.

In regards to an order limit, I don't believe the authorized purchasers use that line of reasoning. I know the place I'm going to try to buy from told me that it will be first-come, first-serve on the 5 oz coins. The Mint is the one that always tries to be "fair" in distribution. I don't know if this turn of events will change the minds of my authorized purchaser, but I doubt it.

One last thing. The commenter who said all of these coins will have imperfections is right, but then again, ALL coins have some kind of imperfection. I don't believe there is such a thing as a completely "flawless" coin, no matter WHAT the TPG companies may say. I would NEVER pay a huge markup for a slabbed coin with a MS70 or PF70 label. It's a known fact that the same grading company will sometimes give the EXACT same specimen a 69 grade one day and a 70 grade another day, if you break it out and re-submit it to them. The whole thing is just a ploy to get your money. My advice on modern coins is just to buy them raw and make your money go further. We all know that sometimes raw coins sell for more money than a coin graded 69. If yours comes back a 69, you've just spent extra money for nothing. Collect the COINS, not plastic holders with inconsistent numbers on them!

 
At December 1, 2010 at 4:23 PM , Anonymous Anonymous said...

I wonder if the Mint will add Silver to it's Pricing Grid and adjust prices through out the year?

 
At December 1, 2010 at 4:55 PM , Anonymous Anonymous said...

Not interested. I can buy 5 silver 1oz. eagles for a lot less than what these over sized quarters will be going for. Yes they are interesting in a way but will be grossly overpriced in the secondary market. Only for the rich. No novice collectors aloud. Which is sad. I guess we got the circulated quarter coin set.-yawn

 
At December 1, 2010 at 5:03 PM , Anonymous Anonymous said...

I think it very sad that a park system that was set up to make the most beautiful places we have accessible to the common man is being honored by a "coin" that will be manipulated by, and available only to the wealthy. I don't think Teddy Roosevelt would approve at all.

 
At December 1, 2010 at 5:42 PM , Anonymous Anonymous said...

As usual the big time dealers (politicians) will get the large profits on these bullion cookies. It will be a rush to hoard as many as possible on the ATB 5oz to corner the market and raise prices to unreachable levels for the average collector. Only the numismatic versions stand a chance for a decent price in the future. However, by then silver will be so high that the mark up the US Mint uses will be outrageous as well. What a shame that the US Mint only shows favoritism to the few lucky enough to get these and mark them up out of reach for us average collectors. Looks like business as usual to me. I guess the days of consideration for the average collector is dead and gone. The totally lose my respect with this move.

 
At December 1, 2010 at 6:02 PM , Anonymous Anonymous said...

I am glad to see that the Mint is pulling back on mintages. This adds value and value inspires preservation. I can assure everyone; these coins will be National Treasures.

 
At December 1, 2010 at 6:02 PM , Anonymous Anonymous said...

The crazy thing I see in all this is people actually paying over 300.00 just to get one of these pieces of rich man junk. Screw the Mint and the scalping bullion dealers. Obviously greed has taken over with the whole bunch. I can assure you one thing. I don't care if they mint only two. They can take them all and stick them sideways where the sun doesn't shine. I can sleep just fine at night knowing that I don't rip people off. The sad part is that most these US Mint and scalping dealers won't lose a minute of sleep knowing that they are completely ripping people off. If you say how is the Mint ripping people off with the prices they give the dealers. I say that they are simply the ones who pick and choose who the lucky dealers will be. Politics has reached an all time low and the politicians creating this crap are the same ones who just printed 600 billion dollars. May they all rot in hell for ruining my daughters futures in the name of greed.

 
At December 1, 2010 at 6:17 PM , Anonymous Anonymous said...

I can see idiots and their money paying as much as 1200.00 for a PCGS MS70 in these coins. Looks like the gates will open and the rich idiots will come out in droves. It will be fun laughing at all of them as I collect a more worthy coin. Simple modern day bullion is all it is. Low mintage or high mintage means nothing to me on bullion coins. Did anyone really expect them to produce these in the millions LOL. Give me an older coin worthy of the price any day over this garbage. Word of advice is to buy an older coin worthy of a higher price. This is just another fad modern day ripoff that will peter out just like all the rest.

 
At December 1, 2010 at 6:22 PM , Anonymous Anonymous said...

To the person who said this:

I can assure everyone; these coins will be National Treasures.


ROFLMAO These bullion coins will be a total rip off. A Modern day scam at best. If this is what it takes to have a national treasure. Then greed is what our national treasure stands for now. How sad is that for our nation?

 
At December 1, 2010 at 6:31 PM , Anonymous Anonymous said...

Ebay auction 320625305801. This is one of several this guy has. How can he be so sure what he will get and at what cost. He has 10 auctions listed so far.

 
At December 1, 2010 at 6:38 PM , Anonymous Anonymous said...

Also, what will this ebay coin be shipped in? just in bubble wrap?

I think I'll wait for the Mint's unc coins as while they will cost more (but lower mintage), at least they may come in packaging that protects them...capsule?? or something else

 
At December 1, 2010 at 6:55 PM , Anonymous Anonymous said...

He has a by it now at 299.99. Just as I suspected. The scalpers will be ripping the idiots off. Even with a higher price in silver spot. I don't see the US Mint charging that much. A complete scam IMO. This is bullion people HELLO !!!!!!

 
At December 1, 2010 at 7:05 PM , Anonymous Anonymous said...

Quite frankly I would rather have the Franklin mints version (Medal) of these coins then this garbage. At least they have good art work on them with a bullion price or at melt. I think I'll look at that possibility and not go through the hassle of being ripped off. Then I can be assured that the silver value will hold as long as silver stays high or goes higher.

 
At December 1, 2010 at 7:26 PM , Anonymous Anonymous said...

28.53 x 5 = 142.65 x 8 % = 154.06

At that price of 299.99 the seller is making 145.93.

subtract the 13 % ebay / paypal fees 38.99 plus shipping at say $11.00.

His total take is 95.94 and that does not count the other taxes like sales tax and business tax and expenses. Not to shabby for a total net profit on a single coin. Quite honestly I'd much prefer selling a gold coin for 3 times the amount of profit.

 
At December 1, 2010 at 7:31 PM , Anonymous Anonymous said...

haters are funny.

 
At December 1, 2010 at 7:49 PM , Anonymous Anonymous said...

anyone know dependable bullion autherized purchasers that in your opinion may have a chance of geting these?

 
At December 1, 2010 at 8:02 PM , Blogger Lasloo said...

The local "authorized" dealers that I've talked to don't seem to really know much about all the goings on Mint-wise... they rely on other suppliers and the like. Honestly, they seem very uninterested and surprisingly unknowledgable.

The one national "authorized" dealer I talked to says they won't know anything until December 6th and no decisions will be made on getting these coins until then.

 
At December 2, 2010 at 4:20 AM , Anonymous Anonymous said...

Michael, I believe something you buy from APMEX is tertiary market, not secondary.

 
At December 2, 2010 at 4:57 AM , Anonymous Anonymous said...

Ha ha ha,

A circus sized verion of a circus coin!!!!

 
At December 2, 2010 at 6:55 AM , Anonymous Anonymous said...

If someone could buy all of these coins in one purchase. They would easily have the market cornered and name their price. Allowing the bullion dealers only to buy these first coins is a completely stupid idea. I think it is merely just to be able to justify the ripoff coming in January on the numismatic version of these coins. Further more, How can you really even call this a coin. It is more of a medal then a coin IMO. And why not be like China, Mexico, and Australia and make a big Kilo coin. Oh the insanity of it all.

 
At December 2, 2010 at 7:00 AM , Anonymous Anonymous said...

I personally think if they made a gold proof ATB quarter the same size as the normal sized quarter, it would have great eye appeal, be priced not too much more than the 5oz silver bullion goliaths (around 1/4 oz gold) and an all around winner.

Again, best of luck to you 5oz silver bullion collectors.

-JBL

 
At December 2, 2010 at 7:06 AM , Anonymous Anonymous said...

Michael, I believe something you buy from APMEX is tertiary market, not secondary.
December 2, 2010 4:20 AM

Nope, Apmex has become an Authorized Purchaser since June 2010.

Micheal, do you have by any chance, the list of the purchasers (international ones included)?

 
At December 2, 2010 at 7:17 AM , Anonymous Anonymous said...

When the price of bullion comes down, which it eventually MUST, how can these coins hold value over the long term? I think it is a big mistake to put out big dollars to chase these.

If one were to chase low mintages, the First Spouse gold would be a far better option.

However, I don't predict either will be very good over the long term, simply because it would be far too expensive to ever complete a set of either. Both of these long, modern, expensive series will always simply rise & fall on the spot price.

 
At December 2, 2010 at 8:15 AM , Anonymous Anonymous said...

to the above commenter...how do you explain the 1999 silver proof set, the 2006 anniversary silver eagle set after market prices. I've come to find out that you can't make sense of what will and won't be a winner in the secondary. Spot price has nothing to do with rationalism. These could sell for $1000 dollars a piece even if spot goes down to $10. Or they could be worth melt in the long run. Who really knows. Its always a gamble.

 
At December 2, 2010 at 8:35 AM , Anonymous Anonymous said...

1999 silver proof set prices make no sense. Tons of supply. Prices will continue to fall when folks realize this. 2000 silver proof sets have about 20% more mintage than 1999 and sell for spot!

 
At December 2, 2010 at 8:56 AM , Blogger Lasloo said...

The 1943 steel penny still sells for far more than a similar or lower mintage penny in the same time period.

If the demand is there for whatever reason (in the case of the 1943 penny... its because its the only steel penny made, in the case of 1999 silver proof set, its the first with the state quarters AND its silver), there is a potential for the worth of the product to go up. Mintage is only important AFTER demand has been created.

The 1947 Lincoln penny has a sixth of the mintage of the 1943 penny, but is only worth about 4 cents, while the 1943 is worth about 12 to 15 cents.

Long story short... stop equating mintage with value.

With that said, the 2010 5 ounce bullions and/or numismatic coins WILL have demand regardless of mintage. Its a VERY UNIQUE coin and its THE FIRST of its kind and its SILVER. Those qualities are what will drive up the price. The fact that it has such a low mintage is important in driving up the price, but it is a secondary concern.

As the coin collector saying goes... just focus on buying what you like that you can afford. If others do the same, the demand will go up and your coin could be worth more in the future. If its not worth more, you like the coin regardless, right? So, you were going to buy it anyway!

 
At December 2, 2010 at 10:30 AM , Anonymous Anonymous said...

What is the dollar amount on the 5ozers? I assume they are legal tender?

 
At December 2, 2010 at 11:10 AM , Anonymous Anonymous said...

The 5ozers are legal tender and have a face value of 25 cents...you can use them for your parking meter! LOL

 
At December 2, 2010 at 1:15 PM , Blogger Mint News Blog said...

"Micheal, do you have by any chance, the list of the purchasers (international ones included)?"

The authorized purchasers are the primary distributors of US Mint bullion coins. Qualifying is difficult and carries such requirements as $10 million tangible networth, audit by an independent accounting firm, and status as an experienced market maker.

The AP's can buy bullion directly from the US Mint at the market price of the metals plus a mark up. They must purchase in bulk quantities (for the ATB silver it is minimum 2,000 coins) and pay by the second business day.

The AP system is used because it is believed to be an efficient system of distribution and provides for a two way market. AP's are required to make a market for US Mint bullion coins (both buy and sell).

These are the authorized purchasers:

A-Mark Precious Metals of Santa Monica, Calif. It is authorized to purchase gold, silver and platinum.
• American Precious Metals Exchange, Inc., of Oklahoma City, Okla. Silver Eagles only.
• Coins ‘N’ Things, Inc., of Bridgewater, Mass. Gold, silver and platinum.
• Dillon Gage Inc. of Dallas, Texas. Silver only.
• Fidelitrade, Inc. of Wilmington, Del. Silver only.
• Jack Hunt Coin Broker, Inc., of Kenmore, N.Y. Silver only.
• MTB of New York. Gold, silver and platinum.
• Prudential Securities, Inc., of New York. Gold, silver and platinum.
• Scotia Mocatta of New York. Gold silver and platinum.
• The Gold Center of Springfield, Ill., Silver only.


Based on my understanding of the system, all other bullion retailers are buying from the primary distributors listed above- not directly from the US Mint.

 
At December 2, 2010 at 3:30 PM , Anonymous Anonymous said...

The 5 ounce silver cookie program equates to 1.5M ounces of pure Silver per year for next 10 years. That is 15M ounces total over the next 10 years. This is Silver that will not make it into the industrial sector and will most likely be locked away by the long term collector. Remember that silver is used in advanced battery technology, solar panels, and the stuff they squirt in your veins for medical imaging purposes. This program significantly increases the yearly demand for silver and will definitely put upward demand pressure on its price.

 
At December 2, 2010 at 4:29 PM , Anonymous Anonymous said...

A true completist would be required to buy 50 ounces of silver per year for ten (or it is 11?) years (5 ozs. x 5 designs x 2 finishes). How many people can commit to that, ignoring the problem of where I am going to keep 50 ozs. of silver that I buy every year.

I agree that it is interesting and exciting to see how these things are going to come out. That does not translate into wanting to own one.

Analogies of this series to the Lincoln cents, or even silver proof sets, is far off the mark. The majority of a circulated Lincoln cent set can be completed very affordably, which is why the rarities are that much more sought after.

Similarly, every silver proof se going back to 1992 might cost the same as 5 of these coins, before the inevitable price swell.

 
At December 2, 2010 at 7:00 PM , Anonymous Anonymous said...

What amazes me more then anything is the fact that we are as a nation so far behind the eight ball on minting rarities that catching up to other world mints that have been doing it for decades is a farce. How everyone makes such a big deal out of these 5 oz bullion coins is just a testimony of how little most true collectors really know about all Mints in the world. The facts are that the US Mint is light years behind in low mintage productions of coins that will one day be much more rare to own then the millions that they constantly spit out with poor quality as a result. I can only hope with the low numbers on these 5 oz bullion coins that the US Mint has taken their sweet time to make these with superior quality. Until the time of delivery and all the reports from buyers the jury will be out. This could be a situation that makes or breaks a already crippled perception of the quality thrown out thus far in 2010.

 
At December 2, 2010 at 8:47 PM , Anonymous Anonymous said...

Hi People... Are you confused yet reading all these posts? I think we are talking about 5 pc. of 1-oz silver coin ea. with 5 separate designs each year, and not a single 5-oz coin as suggested. These coins are called quarter dollar. After reading these posts I was beginning to hallucinate seeing 5 pcs of 5 oz silver coins weighing almost 1 kilo per set.
If you collect the complete series, you'll end up with 10 kilos of ATB silver. Not a bad idea.

 
At December 2, 2010 at 10:14 PM , Blogger Lasloo said...

To Anonymous December 2, 2010 8:47 PM,
I don't think anyone is confused. Each of these are FIVE OUNCE 3 inch bullion coins. Not 1 ounce. FIVE OUNCES each!! So, yes that is FIVE separate designs EVERY year for a FIVE OUNCE bullion coin.
It is precisely that this specific type of bullion coin is SO unheard of... that people are so excited about it.
And has there ever been a bullion coin with "Quarter Dollar" inscribed on it?

 
At December 2, 2010 at 10:18 PM , Anonymous Anonymous said...

No, we are talking about a five-ounce coin, three inches in diameter. There will be five designs each year, so that is 25 ounces of silver each year. Nobody is talking about one-ounce ATB coins here, as there is no such a thing.

 
At December 3, 2010 at 10:35 AM , Anonymous Anonymous said...

Pre-sale bids on these are already above $250 and, in some cases $300.

 
At December 3, 2010 at 10:47 AM , Anonymous Anonymous said...

I hope I can get my hand on some of these coins. I hope it will be under or around $250.00 because I would not pay more than that much for a 5 oz bullion coin. I might pay more for the uncirulated one though. I just hope APMEX don't sell it too high. If their price is right, I'll buy all five if possible. However, I'll be happy with just one to show off to my family. If you believe silver is to keep going up, the price don't seem so high when the spot price might one day be at $100 oz. I hope to see that day. Not too soon though, I need to stack up my silver while it is cheap. BUY SILVER!!!!!!!!

 
At December 3, 2010 at 3:26 PM , Anonymous Anonymous said...

JUST PLACED MY ORDER AT APMEX...THEY ARE ONLY SELLING THE COMPLETE 5 COIN SET FOR 1395.00 PLUS SHIPPING...

 
At December 3, 2010 at 3:41 PM , Anonymous Anonymous said...

Thanks for the info. I checked APMEX earlier this morning and they did not have it. Wow, its like $279 a coin, and you have to buy all 5 of them. I don't know if I can do that yet. They chose the best time to put it out huh? when silver is at a really high price, over $29.30 oz. I don't know if I should wait or not. I really want the coins, but the price tag is really high. Man, what to do, what to do? Who would buy all five of them at that price?

 
At December 3, 2010 at 4:13 PM , Anonymous Anonymous said...

I pulled the trigger! We'll see if the high demand is really there or not. It has to be to support this high of a price. It's hard to know, but with the anticipation and build up, as well as the low mintage, it seems like a winner.

 
At December 3, 2010 at 8:10 PM , Anonymous Anonymous said...

I also pulled the trigger with APMEX. At almost double spot it's way too high. But WOW, 5 ounce US Mint silver! I would probably make more profit buying silver eagles, but I don't play the lottery, so I'l play the 5 oz. ATB lottery. Maybe they will go way up, maybe not. Some day silver will be $100 an ounce if not more, so I'll some day make a profit. In the meantime, these 3 inch in diameter US Mint silver coins are REALLY NEAT!!!

 
At December 4, 2010 at 3:17 AM , Anonymous Anonymous said...

If these were ASE With a total mintage of 165000 across all options. people would be killing each other to get theirs. The 2010 AGE has a total mintage of 239000 across all options. People went gaga for that yet it still isn't a complete sell out. So this is a real crap shoot.

If you are buying these because you just want the silver metal you are crazy. If you are speculating that they may go up in crazy value, that is a pricey gamble. Finally if like me you think these may make a long term investment that my children may enjoy, I'll take the gamble. We will find out soon enough if these are going to be the next big thing or just big hockey pucks that are silver.

 
At December 4, 2010 at 5:24 AM , Anonymous Anonymous said...

If you pay APMEX via credit card is $1456.80 for the five. $58.40 an ounce. TWICE the current silver melt value. Oh! the anxiety.

 
At December 4, 2010 at 9:31 AM , Anonymous Anonymous said...

Just do it, you'll thank yourself later.

 
At December 4, 2010 at 11:30 AM , Anonymous Anonymous said...

APMEX has only 99 sets left. You'd better order within the next hour if you want these.

 
At December 4, 2010 at 11:44 AM , Anonymous Anonymous said...

No longer available from APMEX. They're sold out.

 
At December 4, 2010 at 8:32 PM , Anonymous Anonymous said...

THESE ARE CRAP..IF THE COLLECTOR CANT GET THEM WELL THY ARENT WORTH IT.I WONT PAY FOR A COIN TAT IS NEW FOR A PRICE THAT MAKES JONNY JEW MISTER A PROFIT..THE HELL WITH THAT .IF YA CAN GET THEM WELL THAT IS YOUR THING ..
NOT WORTH PUTTING ME IN THE RED FOR SOME CRAP
MEDAL SIZE COIN...

 
At December 6, 2010 at 1:09 PM , Anonymous Markie Boy in Phoenix said...

I just spoke with my "Coin Guy" who is a fairly large dealer and he said he would not be able to get any sets or even individual coins. Also said be careful as dealers who have them are charging 2X or 3X silver. Then is shared the story about the 1999 Silver State Quarters which you could buy at $35 form the Mint, went way up to $399 / $599 and now are at $100...... Best to be careful if you can't get them from the Mint direct at a reasonable price....

 
At December 21, 2010 at 8:49 PM , Anonymous Anonymous said...

Latest news is that the mint is restricting how the five or six authorized dealers can sell these coins. They can't sell more than one set per person, can't sell to dealers and can't charge more than a 10% premium over their cost. Secondary market is where these are going to skyrocket.

 

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