The US Mint has reported opening sales figures of 75,000 for the 2010 America the Beautiful Silver Bullion Coins.
That is the amount Authorized Purchasers (AP’s) ordered when the three-inch, five ounce bullion coins re-launched on Friday, December 10. A total of 165,000 are made available this year, which leaves 90,000 left.
The sales level does not indicate demand in this case, since the coins are not sold directly to consumers. Further, many of the Mint’s AP’s who can order them are still evaluating the new terms and conditions they must abide by if they take their allocated 3,000 coins for each of the five 2010 designs, or 15,000 coins in total. They have until 3:00 PM Friday, December 17, 2010, to make up their mind and place an order.
Since there are 11 authorized purchasers and 75,000 of the America the Beautiful Silver Bullion Coins have sold, it would suggest that at least 5 of the 11 are already participating in the program. Most of the authorized purchasers are not known for selling directly to consumers, which is a new condition for ordering the five ouncers. AP’s over the years have typically engaged in reselling only to other companies, who then make them available for the secondary market. The method has worked exceptionally well for both the US Mint and the AP’s in moving tens of millions of bullion gold and silver American Eagles each year.
If any of the Authorized Purchasers choose not to order their allotted America the Beautiful Silver Bullion Coins, the extras will be made available on December 20, 2010, to the rest in the group of 11 who have.
On Monday, the US Mint released the latest list of 11 US Mint Authorized Purchasers. They are:
- A-Mark Precious Metals (Los Angeles)
- Coins N Things Inc. (Massachusetts)
- MTB (New York)
- Scotia Mocatta (New York)
- American Precious Metals Exchange Inc (Oklahoma)
- Dillon Gage Incorporated of Dallas (Texas)
- Prudential Securities Inc. (New York)
- The Gold Center (Illinois)
- Jack Hunt Coin Broker (New York)
- Commerzbank (New York)
- Fidelitrade (Delaware)
The US Mint has limited 2010 mintages to 33,000 for each of the five designs. Similar to this year’s America the Beautiful Quarters®, the America the Beautiful Silver Bullion Coins honor Hot Springs National Park (Arkansas), Yellowstone National Park (Wyoming), Yosemite National Park (California), Grand Canyon National Park (Arizona) and Mount Hood National Forest (Oregon).
The Mint has indicated another 27,000 per design are being reserved for collector uncirculated versions that will be available in early 2011. Unlike the bullion coins, these will be sold directly by the US Mint to individual buyers. They will also feature the Philadelphia ‘P’ mintmark.
I hope it is a typo but I have a bad feeling about “Cons N Things Inc.”
It was a typo. Fixed. Thanks Michael.
75000 sold and I can’t get any.
USMINT you set a bunch of loosers as aprroved scamers.
I tried and tried, YOU CAN HAVE’EM I AM NO LONGER INTERESTED.
I CALLED AND CALLED AND ALL I GOT WAS SAD EXCUSES.
USMINT YOU GUYS ARE SAD AND THE APPVED BROKERS ARE JUST TAKING ADVANTAGE OF YOU INNOCENCE ATTITUDE.
This has a bad taste.
I already see them listed for “pre-sale” on eBay from someone “out West”. THe going price is nearly $500!! Can’t call it price gouging, but there are idiots actually bidding them up that high. Wow! At $100 an oz. I bet they feel good too…
This is a scam – why aren’t they selling directly to the public? Why am I forced to pay higher prices in the 2ndary market??? Obama where are you when we need you?!
This will be a very expensive series to collect even without the high secondary markups, basically $1000 per year at current silver prices. heck at that price level one can build a half ounce gold collection. Secondary market prices may be over predicting the eventual premium carried by these coins if it is based on “series completion”.
I Think I Just Wait For the proof, My Prediction For This Mamayama So called Quarters, is: Well first let me see if Levi’s will Make Gigantic Pockets in the new jeans. Ok they said NO Gigantic Pockets. So this Quarters will have a Short Life, Unless they Make a Penny the zise of a watermelon, to match it up, may be then there will be more Interest by all of us. You Can Have the Bullion For $500 or $10000 ea W/E , Just remember what Happens to Bubbles ( The Pop) soon or later and you will end… Read more »
what a bunch of whiners!!! heh! here’s a thought maybe the goverment should step in at the grocery store and decide what kind of profit margin they should be making on groceries or come to all our places of employment and decide how much we all get paid.as greedy as the free market is. its still much better than the alternative.
US Mint: What’s with the 1 retailer out of 11? What a Joke. And the one retailer gouges the shit out of everyone. Where is the competition? Talk about market corner. And what is the sense anyhow selling a collectible to a bank? Everyone should just not buy them and let the banks sit on them since they have the most. Useless.
USMINT is directed by someone who looks like an illegal immigrant to me… and they are doing a quality of work only an immigrant would perform
If you think this is bad, just wait until the mint releases the numismatic version in a few weeks. I stopped buying from them nearly 10 years ago when I couldn’t get any of the Buffalo dollars – and they supposedly made half a million of them! With only 27,000 of these, do you really think you’re going to be one of the “lucky ones”?
BTW the mint seems to have done just fine without me. So go ahead – boycott. They won’t even notice.
I simply can’t fathom where all the circulation-made quarters have gone? s the mint or the Fed. reserve Banks hoarding them in the same manner as they’ve hoarded the Half Dollars?