2011 Gettysburg and Glacier 5 Ounce Silver Bullion Coins Launch

The United States Mint on Monday began accepting orders from its network of Authorized Purchasers for the 2011 Gettysburg National Military Park 5 Ounce Silver Bullion Coin and the 2011 Glacier National Park 5 Ounce Silver Bullion Coin, as previously announced on SilverCoinsToday.com.

The three inch diameter, .999 fine silver coins honor the military park located in the state of Pennsylvania and the national park located in the state of Montana. Reverse designs featured on the coins are emblematic of each location.

The obverse or heads side of the coins bear the same George Washington portrait as depicted on circulating America the Beautiful Quarters®. Unlike the quarters that have a reeded edge, however, the 5 ounce pieces have edge letters of .999 FINE SILVER 5.0 OUNCE.

With the introduction of the Gettysburg Silver Bullion Coin and the Glacier Silver Bullion Coin, the United Stages Mint is two-fifths through its lineup of  2011 America the Beautiful 5 Ounce Silver Bullion Coins. The three coins for issue later this year will honor Olympic National Park of Washington, Vicksburg National Military Park of Mississippi and Chickasaw National Recreation Area of Oklahoma.

The America the Beautiful Silver Bullion Coin series debuted just last year when the United States Mint issued all five of the 2010-dated releases on December 10, 2010. That introduction had been delayed by four days when the Mint suspended the initial release upon hearing reports of potential price gouging. In response to those reports, the Mint instituted modified terms and conditions which the AP’s were forced to agree to before placing orders for coins.

Those additional terms were apparently required owing to the frenzied excitement seen for the coins from investors and collectors eager to obtain them. That frenzy was only amplified by the fact that the Mint was only able to produce 33,000 of each of the 2010 designs, giving each strike an automatic level of rarity not seen in the Mint’s other silver bullion product, the American Eagle Silver bullion coin.

Accordingly, those AP’s opting to participate last year were required to sell the 5 ounce coins directly to the public, something which most of them had never undertaken in the past. The network of AP’s usually offer bullion coins to other coin dealers and precious metals providers who, in turn, resell to the public. Additionally, the AP’s were required to enforce a one per household limit for each of the 2010 silver bullion coins.

The additional terms will not be needed for the 2011 silver bullion coins, however, the United States Mint has indicated. The removal of the more stringent requirements is owed mostly to the fact that the Mint was able to produce "substantially higher" mintages this year. In fact, an initial mintage of 126,500 has been allotted for each of the first two strikes with the possibility of producing more if needed, based on demand.

This means that AP’s will not be required to sell the 2011 silver bullion coins directly to the public like last year’s releases, although some may choose to do so. Eventually, enough of the coins should reach the secondary market that interested buyers should find them at the same locations where they purchase American Silver Eagles.