America the Beautiful Silver Bullion Coin Distribution and Mintage Changes

The United States Mint is handling distribution and mintage levels of the 2011 America the Beautiful Silver Bullion Coins differently than the 2010 versions.

For starters, the US Mint plans to launch the first of five 2011 coins in late April. The other four issues for this year will be released in staggered intervals. Last year the Mint launched all five of the 2010 silver bullion coins at once.

Most significantly, this year’s issues will have mintage quantities that are "substantially higher" than the 33,000 per coin mintage limits of the past. The mintage changes were announced in a US Mint memo to its Authorized Purchasers (AP’s). AP’s are responsible for reselling all US Mint bullion coins, since the Mint does not offer them directly to the public like it does with its numismatic products.

Other distribution changes include how the coins will be sold. Unlike the 2010 silver bullion coins, buyers who are interested in the 2011 issues should not have to worry about household limits and may find the coins from the same dealers who offer Silver Eagles. Last time there was a one-per-household limit, and Authorized Purchasers had to sell them directly to the public instead of to their normal clientele.

One drawback to the change will be the amount of time it will take to put together a 2011 five coin set. Collectors will have to patiently wait for the fifth and last coin of the year to appear in the market. In December 2010, five-coin sets were all the rage.

The first of the 2011 ATB 5 Ounce Silver Bullion Coins honors Gettysburg National Military Park. The exact sale date has not been determined yet. For more information about each of the 2011 issues, read about the:

• Gettysburg Silver Coins
• Glacier Silver Coins
• Olympic Silver Coins
• Vicksburg Silver Coins
• Chickasaw Silver Coins

These silver bullion coins are investment grade versions of the new circulating quarters. Although they feature the same obverse and reverse designs as the quarter-dollars, they are different in that they are composed of 5 ounces of .999 fine silver, have a diameter of 3.0 inches, and feature edge incused letters.

The Mint this year will also issue collector versions in uncirculated quality. No release dates have been set as of this writing.

For reference, the body of the US Mint memo sent to its Authorized Purchasers about the changes follows:

1. Authorized Purchasers (AP’s) certifying that they have sold ALL of their 2010 America the Beautiful Five Ounce Silver Bullion Coins to the public, in compliance with the terms and conditions that were put in place for the 2010 program, will have their obligations under the terms and conditions lifted. Once we have received an AP’s certification and have approved the lifting of the terms and conditions on the AP, the AP may henceforth buy and sell coins from the 2010 America the Beautiful Five Ounce Silver Bullion Coins™ Program in accordance with the basic AP Agreement and its ordinary bullion pricing policy.

2. Certifications must appear on company letterhead and be signed by an authorized representative of the Authorized Purchaser.  A fax copy is acceptable.

3. We expect to put the first coin in the 2011 America the Beautiful Five Ounce Silver Bullion Coins Program — Gettysburg National Military Park — on sale in late April.

4. We will issue coins in the 2011 America the Beautiful Silver Five Ounce Bullion Coins Program in quantities substantially higher than we did for the 2010 America the Beautiful Five Ounce Silver Bullion Coins Program.  As a result, there will be no terms and conditions imposed on the 2011 America the Beautiful Five Ounce Silver Bullion Coins Program.

5. We will allocate coins in the 2011 America the Beautiful Five Ounce Silver Bullion Coins Program equally among participating Authorized Purchasers.

6. To participate in the 2011 America the Beautiful Silver Bullion Coins Program, an Authorized Purchaser must certify that it has sold all of its 2010 America the Beautiful Silver Bullion Coins Program inventory to the public in compliance with the terms and conditions for these coins.

7. We will advise Authorized Purchasers as soon as an on-sale date for the 2011 America the Beautiful Five Ounce Silver Bullion Coins Program — Gettysburg National Military Park — is determined.

The US Mint sent the memo on Wednesday, March 9, 2011.