May 23, 2024

America the Beautiful Silver Bullion Coin Distribution

Nine out of eleven of the US Mint’s authorized purchasers have decided to go along with the new terms and conditions covering the distribution of the America the Beautiful Silver Bullion Coins.

The 5 ounce silver bullion coins featuring duplicate designs of the circulating quarter dollar series became hot items once collectors learned of the limited mintage of just 33,000 coins per design. Based on the high demand and limited supply available, one of the US Mint’s primary distributors began accepting orders for the coins at a premium considered to be excessive.

Complaints from customers caused the US Mint to halt and relaunch the program with price controls and other measures to ensure broad distribution to the public. In order to participate in the distribution of the America the Beautiful Silver Bullion Coins, the primary distributors had to agree to sell all coins directly to the public, limit premiums to 10% above acquisition cost, and impose household ordering limits. The rules seemed problematic for some of the distributors who generally only sell in bulk quantities to other dealers.

The US Mint’s eleven primary distributors were able to place orders with the United States Mint from December 10 to 17. The nine who purchase their allotments of 3,000 coins of each designs are included below:

  • A-Mark Precious Metals (Los Angeles)
  • Coins ‘N Things (Massachusetts)
  • MTB (New York)
  • American Precious Metals Exchange, Inc. (Oklahaoma)
  • Dillon Gage Incorporated of Dallas (Texas)
  • Prudential Securities Inc. (New York)
  • The Gold Center (Illinois)
  • Jack Hunt Coin Broker (New York)
  • Fidelitrade (Delaware)

The coins allocated to the two primary distributors who did not place orders will be reallocated to active sellers this week.

In the first quarter of 2011, the United States Mint plans to offer numismatic versions of the 2010 America the Beautiful Silver Bullion Coins. These would be limited to 27,000 coins per design and sold directly to the public via the US Mint’s website and by telephone.