October 2, 2022

Details Awaited for America the Beautiful 5 oz. Silver Coins

Silver investors and coin collectors have been awaiting the final details of the United States Mint’s new silver bullion coins. Some preliminary information such as the design, specifications, and production levels have been revealed, but the premiums and exact release dates remain unknown.

The America the Beautiful Silver bullion coins will feature the designs of the new circulating commemorative quarter series struck in 5 ounces of .999 fine silver. Under Public Law 110-456, the coins will be produced with an unusually large diameter of 3.0 inches. By comparison, the Perth Mint’s 5 oz Lunar silver bullion coins have a diameter of about 2.58 inches. The larger diameter makes the US Mint’s coins more difficult to produce and potentially bendable by hand, due to the thickness of only 0.16 inches.

Following the America the Beautiful Quarters Program, a total of 56 different designs will be released between 2010 and 2021. The releases will feature a National Park or National Site from each of the 50 States, 5 U.S. Territories, and Washington, D.C. The order of release has been established based on the dates the areas were federally designated.

By law the US Mint may issue make the coins available for sale only during the calendar year that the corresponding quarter dollars are released. This means that the 2010 5 oz silver bullion coins featuring Hot Springs, Yellowstone, Yosemite, the Grand Canyon, and Mount Hood must be issued available for sale before the close of the year.

Overall production is left to the discretion of the Treasury Secretary. This is in contrast to the American Silver Eagle, which must be struck based on public demand. For 2010, the US Mint has planned production of 500,000 of the America the Beautiful Silver Bullion Coins, equally divided amongst the five designs.

The new silver bullion coins will be distributed through the US Mint’s authorized purchaser network, which currently distributes other bullion products. The premium that authorized purchasers will need to pay above the market value of the silver has not yet been announced. For the American Silver Eagle, the premium is currently $2.00 per coin. Premiums for American Gold Eagles range from 3% to 9% depending on the bullion weight.

Comments

  1. Does the legislation actually require that these be issued this year, in the sense that they must be minted and shipped? My reading is that the law requires that they be available for sale this year only for the first issues, but I don’t believe it specifically says they must be shipped this year. What is there to prevent the Mint from taking orders thru the end of 2010 but not actually shipping until after the beginning of 2011? I’m not saying they will, but can they do so if they choose to?

  2. Thanks for your comment.

    Taking a second look at the law and it does state “available for sale” rather than “issue” (i.e. produce and ship). I have to agree with you that it does seem possible that the Mint can take orders before the end of the year and then ship the coins next year.

  3. Perhaps they can take orders through the end of the year, and still ship into 2011. But I would assume that the actual coins would still need to be produced in 2010.

  4. I would think so too Dave but this legislation doesn’t specify it. Does anyone know if other legislation specifically requires these to be minted prior to the end of this year? Legislation dealing specifically with bullion silver Eagles or circulating coins may not have any bearing on these, so what I had assumed may be wrong.

  5. Where can i buy the new 5 oz coins. i live in the south east corner of pa. not to far from wilmington, de.

    and most important at a reasonable price.

    thank-you

  6. I can’t wait to get my hands on these because I love BUYING SILVER TO HELP CRASH JP MORGAN. And because Silver is real money…

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