April 20, 2024

US Mint Boosts America the Beautiful Silver Bullion Coin Production

The United States Mint plans to issue the first of this year’s America the Beautiful Silver Bullion Coins in late April. Last year, the series caused quite a stir when the low mintages made them more akin to scarce collectibles than bullion coins. For the current year, the US Mint has planned significantly higher production levels that will eliminate some of the excitement, but hopefully allow the coins to trade as intended, based primarily on the precious metals content.

The coins are struck in 5 troy ounces of .999 fine silver, representing the first time the US Mint has offered bullion coins with a weight greater than one ounce. The designs are exact duplicates of the America the Beautiful Quarters series, which features five different releases annually depicting National Parks or sites in each of the states and territories. The oversized bullion coins also include edge lettering indicating the weight and fineness of the precious metals content.

Each of the 2010-dated bullion releases had a limited production of 33,000 units each. The US Mint tried to solve the problem of high demand for a limited supply by requiring their primary distributors to follow specific terms and conditions, which capped premiums and sought broad distribution.

Recent reports indicate that the US Mint has produced 125,000 of the first 2011-dated releases featuring Gettysburg National Military Park. With production closer to market demand, the same terms and conditions will not apply for the distribution of this year’s coins. However, in order for the primary distributors to participate, they must certify that they have sold their complete allocation from last year in accordance with the rules established by the US Mint.

The remaining 2011-dated releases will feature Glacier National Park, Olympic National Park, Vicksburg National Military Park, and Chickasaw National Recreation Area. These will be released at intervals throughout the year.

With higher mintages, there will be less collector allure for the 2011 coins, however, the status of the 2010 coins as desirable rarities may be reinforced. If the US Mint manages to keep production levels high for the reminder of the twelve year series, the 2010 coins will take on the status of key dates for the bullion series.