Last year, the United States Mint introduced the America the Beautiful Silver Bullion Coins. This series features the same designs as the current circulating quarter dollars, struck in 5 troy ounces of .999 silver, with a diameter of 3 inches, and incuse edge lettering. The distribution of the upcoming issues featuring Gettysburg National Military Park and Glacier National Park will be different compared to the distribution of the first five issues of the series.
The US Mint's bullion products are distributed through a network of authorized purchasers (APs). This small group of primary distributors is able to purchase bullion coins directly from the US Mint in bulk quantities based on the price of the precious metals plus an established mark up. The APs then resell the coins to other bullion dealers, coin dealers, or the public. Traditionally, most APs have not sold directly to the public in smaller retail level transactions, but have distributed bullion in larger quantities.
Late last year, the US Mint announced extremely low mintages for the 2010 America the Beautiful Silver Bullion Coins, at just 33,000 units per design. This eventually led the program to be halted and relaunched with special terms and conditions for the authorized purchasers. In order to participate in the distribution of the 2010 ATB silver bullion coins, the APs had to agree to limit premiums to 10% above acquisition cost, sell directly to the public, and impose an ordering limit of one coin per design per household.
This year, the US Mint will begin accepting orders from APs on April 25, 2011 for the next two issues of the series featuring Gettysburg National Military Park and Glacier National Park. An initial quantity of 126,500 units for each design will be allocated amongst participating APs. Because of the higher mintage level, the APs will not be subject to additional terms and conditions, however they must certify that all 2010-dated coins were distributed in accordance with the applicable terms.
Although the APs are not required to accept orders from the public in retail level transactions, several have indicated that they will make the coins available in similar fashion to the 2010-dated releases.
Fidelitrade will make the coins available for sale to the general public, but they will be offered "only after we have physically received them from the Mint (early May). Individuals that have an account with FideliTrade (including those that bought the 2010 coins) can place an order by phone. We expect to offer coins in either a) bulk form (i.e., no special handling/packaging) or b) in Air-Tite holders (for an additional fee). Since the overall demand is unknown, we have not yet determined prices or order limits."
Manfra Tordella & Brookes, Inc. indicated that they plan to sell the coins to retail dealers as well as the retail public. "No specific selling details are available at this time but our plan is to eventually offer for sale these coins based on prevailing silver market prices plus an undetermined premium. This time around we don't expect sales limits per household but we will of course be limited by US Mint production capacity and allocation limits."
Apmex will offer the coins for sale to the public. Their website already includes product pages for the next two designs to be released, which can be found here. "It is not possible to forecast exactly when we will receive the coins or the pricing (since we don’t know our costs as yet). We will offer all that we receive. Presuming we have no restrictions from the US Mint (which we do not as of this date) the coins will be offered in the same manner as every item on our website under the same terms and conditions."
Jack Hunt Coin Brokers indicated that they would not sell the coins retail. Other authorized purchasers did not respond or were unable to be reached for comment.
Besides purchasing the coins directly from US Mint authorized purchasers, the 2011 America the Beautiful Silver Bullion Coins should also be available from a variety of coin dealers and bullion dealers, as the coins work their way through the typical distribution chain.
The remaining three designs for this year will feature Olympic National Park, Vicksburg National Military Park, and Chickasaw National Recreation Area. The US Mint has indicated that their goal is to have a minimum of 126,500 units available for each of these designs. The mintage may be increased beyond this amount depending on demand and silver blank availability.
First there is no mention of the Gold center and hope there not going to get any shipments after what they pulled, as far as Jack Hunt this is another AP’ that should not be allowed to sell these 2011. They have sent out a certain number of sets, graded, as a experiment, than they have sold raw sets to some JUNK while others have reported getting fully Graded pcgs or ngc coins. AND YET THERE WERE NO 69DM SENT OUT AT ALL/ Thats because Jack kept them all. They need to investigate these two ap’s and see if they can prove 3500 or whatever names. thks and enjoy : }
2010 First year of issue 3″5oz Bullion Versions ((Sold Out)) on April 20th 2011 Mintage 33K Sets
1.MTB of NY $930 shipped
2.Fidelitrade of DE $930 shipped
3.The Gold Center of Ill $975 Man power employment services dominated the crowd.
4.A-Mark of CA $975 shipped ((Slabbed PCGS F/S Choice BU ))
5.Apmex of OK $860 shipped ((Second Round of sales Slabbed PCGS F/S BU or Better)) $980 Shipped C/C $1,008.75 Shipped
6.Jack Hunt of NY $949 shipped Air Tites add $14 ((If your Check was lost you could resend it For a PCGS MS-68 Set))
7.Dillon Gage of TX $937 + $25 wire fee ((Second round of sales included two A.S.E.TX Residents Only $1,037 Shipped & NGC Gem Bu Sets))$1,159 Shipped
8.Prudential of NY $862.70 + S/H ((Storage Complicated ordering processes))
9.Coins-N-Things of MASS $930 + $170 ((For $6 Face Value in 90% Silver 12 Barber Half’s)) $1100 shipped
10.Scotia Mocatta of NY ((No participation))
11.Commerzbank of NY ((No participation))
First day of sales 12/3/2010 Silver Spot $29.00 Last day of sales 4/20/2011 Silver Spot $45.00
I was in line at the gold center,this statement is not true…..Man power employment services dominated the crowd.
There was maybe 10 people who were hired and got kicked out of the line, the rest under 200 people were allowed to get there set, five at a time for the 975, no shipping and still charged over. Than over 3000 sets disappear. The mint really needs to look at there books if not the series will be doomed. The Ap’s have already tested the mint,and Jim from the gold center was quoted as to saying he would never sell these again, and its my hope he and jack don’t get the chance………..
The mint makes these and sells them to a bulk distributor, who sells them to another distributor, who sells them to selected members of the public. What a bunch of B.S.
The mint already sells and ships tens of millions of products directly to retail customers every year. It would be nothing for them to add these coins to their product list, thus eliminating two layers of middlemen markup.
IMO, Congress should require the mint to sell all products, including bullion, directly to the public.
Hausman said one man used an employment agency to have 50 people line up and each purchase a set of coins that he could later re-sell.
http://www.sj-r.com/carousel/x1049173619/Silver-bullion-coins-attract-crowd-of-collectors-to-Springfield
This will be like the (Numismatic Versions)on April 28th everybody will be finding ways to purchase multiple coins to flip on the secondary market After the mint sells out prices will sky rocket to $500 each
http://numismaticnews.net/article/Everybody_wants_one/
Hey flipper I have already seen and sent to the mint both copys of those articles, and again like I said I was there, what jim says and what really happened is two different things. He also said he sold 600 sets look at the picture doubt there were 200. I agree with the new P version and I am getting rid of the bullion pucks and will switch to the mints. There you will not have to deal with any cherry picking. Jack hunt isn’t going to sell retail than jack should not be allowed to sell the 2011 ATB Period………… good luck this thursday……….round 2
i agree with all of you the only coins that sold to public were the lower grade all dealers cherry picked except for maybe Prudential they all should be investigated all coins minted by the mint should be sold by the mint
If there is one thing this whole situation with the AP’ and the handling of the 2010 ATB Bullion has taught me is that one of the perks that come with being one of the Mint’s Approved Purchasers is that they do have the opportunity, and can at their discretion, search through each bullion they receive and pick out those coins they feel will receive a high grade, then ship them off to be graded, and then latter resell those graded coins to various dealers who in turn resells them to the public at an enormous marked up price depending on the grade. This no doubt has always been the way it’s been done unbeknownst to general public, but now has come to light by means of the 2010 ATB Bullion disclosure. But in all fairness to the Approved Purchasers, they never did say that that do not cherry pick the coins they purchase from the US MINT. Which in all fairness to coin collector, the US Mint Should sell Bullions directly to the public so that we will have a chance of getting half way decent bullion.
I don’t agree that all the AP’s cherrypicked. Many high-grade coins came from them. Read my forthcoming article summarizing the latest developments on this series, which will be posted on this site soon.
I’ll be ordering the 2011 ATBs from either Fidelitrade or MTB. They sold their complete inventory of 2010 ATBs promptly. I got nice coins from them and have earned my trust.
Add AMark to the good guy list. They gained my repeat business.
AMark also gained my repeat business.
AMark just sent an email to prior purchasers they can get the 2011 pair for $629.99 slabbed. But I don’t want my bullion slabbed. I just ordered from APMEX for $584.30 including shipping.
You really need to write an article on the facts of jack hunt. It has now been proven that jack kept all the 69 dm they had graded as an experiment. No One received a 69dm, and than guess what, alittle detective work and watching sales on ebay and look what pops up a person 20 minutes away sellinjg nothing but 69 dm. Sold 6 yellowstones for 1900 and more. Jack should not be allowed to sell the 2011. They have broken the agreement with the mint. I have forwarded all info to the mints legal dept.They truly believe they are above the agreement that they signed to get the 2010. Come by the forum on pcgs and see what is truly going on with this rogue AP. Than check out this eaby seller……………http://cgi.ebay.com/2010-5oz-America-Beautiful-PCGS-MS69DMPL-YS-/130514351726?pt=LH_DefaultDomain_0&hash=item1e6342f66e
It has now been reported ampex set had 3 B U and 2 GRADED 68 in it. If they all came back BU I could understand, But if some are coming back with grades does that mean when they do a bulk submission they can say anything below a 68 make it BU ? This allows the ap’s to keep the best ones. I really believe a article should be written on what is going on. They should not have ANY GRADED coins. WHY would they pay extra for this service? Why not sell them raw. Will see what i get tomorrow from ampex and i sure hope its not another jack hunt with all the 69dm showing up on ebay………
What a great way for ampex to traet there new cusmtomers, First reported on pcgs were the boxes marked A those have contained all BU slabbed and some 68 regulars, Now were were told they would not have any graded coins just bu.Well Guess what, They must be so stupid to think that we as collectors don’t talk to each other.All of a sudden out pops box B inside it is may 1 Bu and all 68 and1 69 But wait theres more BOX C Has all 68 pl and dm and some more 69 pl and dm, and just when you thought it can’t get worse BOX E All 69pl and dm . Guess i just got screwed again just like lack hunt. THE AP”S SHOULD HAVE NOP GRADED BULLION, FROM NOW ON IN THis series if you want a 69 dmpl you will have to buy it from them. They will continue with blessing from the mint to pregrade these and send you the culls unless your willing to pay just alittle more for the 69dm. I am totaloly sick that not ONE Coin site is interested in the truth, Its fine to out the coindoctors yet they ap;s are worst that those……….. Please write and artivcle on this or is the truth to expensive for you?