Through May 2, 2011, the United States Mint has recorded sales of 237,800 of the 2011 America the Beautiful Silver Bullion Coins to their network of authorized purchasers (AP’s). These five troy ounce, three inch diameter silver coins were first available on April 25, 2011.
The US Mint previously indicated that an initial quantity of 126,500 coins for each of the first two designs featuring Gettysburg National Military Park and Glacier National Park would be available. The latest sales figures indicate that nearly 94% of this quantity has been ordered by the AP’s, accounting for 1,189,000 troy ounces of silver.
Similar to other bullion products of the US Mint, the America the Beautiful Silver Bullion Coins are distributed through a small group of authorized purchasers who may order the coins directly from the Mint. For this program, the cost to the AP’s is based on the market value of the silver content plus a fixed mark up of $9.75 per coin. The market value of the silver is based on the London Fix price of silver on the first business day following the order.
The total sales of 237,800 coins already exceeds the entire quantity of 2010 America the Beautiful Silver Bullion Coins that were produced by the US Mint. There were only 33,000 bullion coins produced for each of the five designs, for a total of 165,000. Because of the limited mintage for the prior year issues, AP’s were required to adhere to a set of additional terms and conditions in order to participate in the distribution process. These terms and conditions do not apply to this year’s releases since mintage levels are significantly higher.