The United States Mint has sold its entire mintage of 2010 America the Beautiful Silver Bullion Coins™ to nine members of its network of Authorized Purchasers (AP’s).
This means all 165,000 of the debut year 5-ounce coins are now in the distribution stream and will eventually make their way into public hands. This includes 33,000 of each of the five 2010-dated strikes for the Hot Springs Silver Bullion Coin (Arkansas), the Yellowstone Silver Bullion Coin (Wyoming), the Yosemite Silver Bullion Coin (California), the Grand Canyon Silver Bullion Coin (Arizona) and the Mount Hood Silver Bullion Coin (Oregon).
It is now left to each AP to decide when they will offer them for sale to the public. No AP, as of this writing, has indicated a beginning sales date prior to January 3, 2010. The nine United States Mint Authorized Purchasers who have opted to sell the 2010 America the Beautiful Silver Bullion Coins are:
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A-Mark Precious Metals Los Angeles, CA www.amark.com |
American Precious Metals Exchange Oklahoma City, OK www.apmex.com |
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Coins ‘N Things Bridgewater, MA atb.cntofma.com |
Dillon Gage Inc. Dallas, TX www.dillongage.com |
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FideliTrade Inc. Wilmington, DE www.fidelitrade.com |
The Gold Center Springfield, IL (217)793-8002 |
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Jack Hunt Coin Broker Buffalo, NY www.jackhunt.com |
MTB New York City, NY www.mtbcoins.com |
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Prudential Securities Inc. New York City, NY (212)778-6667 |
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The US Mint uses the AP network to distribute its bullion products as a means to insure the public has access to smaller quantities of precious metals at near market value. There are eleven firms who are qualified to resell US Mint silver bullion products, but only nine have opted to participate in the more stringent conditions put in place for the 2010 America the Beautiful Silver Bullion Coins.
Additional requirements were added in response to reports of pre-sale premiums of 80 – 100 percent over the current melt value of the coins. The US Mint delayed their initial launch in order to evaluate the situation, then released them to Authorized Purchasers willing to accept a new agreement.
The new terms contained four stipulations. One condition requires that the AP’s not sell the America the Beautiful Silver Bullion Coins for more than a ten percent premium above cost. When the AP’s order the coins from the Mint, they agree to pay an amount equal to the London PM Spot for silver on a certain day multiplied by the number of ounces of coins ordered, plus a $9.75 per coin premium put in place by the Mint to cover production and distribution costs. The purchasers are allowed to add a shipping and handling fee for each order.
Another new requirement dictates that only one coin design may be sold per household, with the US Mint later emphasizing that it should be households in the United States and not foreign buyers.
The United States Mint will also be releasing collector grade 2010 America the Beautiful Five Ounce Uncirculated Coins early next year for sale directly to the public. The mintage of these strikes is even lower at 27,000 per design.
