The United States Mint began accepting orders for the 2011-P Gettysburg National Military Park Five Ounce Silver Uncirculated Coin on September 22, 2011. Earlier today on September 26, the Mint suspended sales of the product, pending a price adjustment.
The product represents the sixth numismatic release for the America the Beautiful Five Ounce Silver Coins. The obverse design features the 1932 portrait of George Washington designed by John Flanagan, and the reverse design features the 72nd Pennsylvania Infantry Monument. Each coin contains 5 troy ounces of .999 fine silver and has a diameter of 3 inches.
The coins were initially priced at $279.95, the same price level as the previous five releases. The maximum mintage was set at 35,000 coins, compared to 27,000 for the previous releases. The ordering limit was five per household, compared to one per household for the previous releases.
In the days following the release, the market price of silver fell dramatically. Around mid-day on September 26, the US Mint suspended internet sales for the product and posted the message: “This product is temporarily unavailable for product repricing.”
At this time details, information on the new pricing is not yet available.
The United States Mint also suspended sales for numerous other silver numismatic products, including the 2011 Proof Silver Eagle, 2011-W Uncirculated Silver Eagle, the 2010-P Mount Hood Five Ounce Silver Uncirculated Coin, and the 2010 & 2011 Silver Proof Sets and America the Beautiful Silver Proof Sets.
Generally, in order to establish new prices for silver numismatic products, the US Mint must publish new prices in the Federal Register. This process can take several weeks, during which sales typically remain suspended. Numismatic gold products are covered by separate policies, which allow weekly pricing adjustments based on the average market price of gold.