Mint News Blog Quick Updates
The news has really been stacking up lately. This post will quickly relay some information on the America the Beautiful Silver Bullion Coins, Edmund Moy's resignation, and the release of 2011-dated Gold and Silver Eagles.
America the Beautiful Silver Bullion Coins
According to the United States Mint, nine out of the eleven authorized purchasers have ordered their allotment of ATB Silver Bullion Coins.
Scotia Mocatta and Commerzbank are the ones who have not placed orders. See the list of US Mint authorized purchasers for the names of the other nine.
The coins which would have been allocated to the two AP's who did not place orders will be reallocated to the participating AP's this week.
I know many collectors are seeking for more information on precisely where and how to purchase the coins. Unfortunately I am not privy to the sales and distribution plans of private companies.
According to the US Mint, there have been no changes to the terms and conditions set for authorized purchasers. This means that they must distribute all coins directly to the public, limit their premiums to 10% above their acquisition cost from the US Mint, impose ordering limits of one coin per design per household, and no coins may be sold to officers or employees of the companies.
The consequences of not following these rules include suspension or permanent removal from the authorized purchaser distribution network. The US Mint has reserved the right to examine records, books, and other documents of the authorized purchasers to ensure the rules are followed.
Edmund Moy Resigns
Edmund Moy, the Director of the United States Mint, announced his resignation earlier this week. He had been appointed by President George W. Bush for a five year term and was sworn in on September 5, 2006.
With his resignation effective January 9, 2011, he will have served as the 38th Director of the United States Mint for four years and four months.
The US Mint's press release indicates that he had accepted a position in the private sector. A separate press release from L&L Energy indicated that Edmund Moy will become their Vice President of Corporate Infrastructure. L&L Energy is a coal-mining company, with a corporate office located in Seattle, Washington.
2011 American Gold and Silver Eagles
The US Mint will begin accepting orders from authorized purchasers for the 2011 Silver Eagle and 2011 Gold Eagle bullion coins on January 3, 2011.
Traditionally, authorized purchasers have been able to place orders for coins bearing the following years date in December, with delivery in early January. Last year, orders were not accepted until January 19.
An inventory of 2010-dated Gold and Silver Eagles remains and seems to be expected to last through year-end. Any coins remaining in January 2011 will be sold on a ratio basis to authorized purchasers ordering 2011-dated coins.
For now, only one ounce 2011 Gold Eagles will be available. For the past two years, the fractional weight coins have been released separately, later in the year.
Labels: US Mint