Yellowstone National Park Silver Coin Sales Top $5.1M on First Day

by CoinNews.net on May 20, 2011 · 10 comments

Yellowstone National Park Silver Uncirculated CoinThe Yellowstone National Park 5 Oz Silver Uncirculated Coin enjoyed robust sales out of the gate. 18,143, or 67.2 percent, of the collector coins were purchased on the first day they went on sale, leaving 8,587 on the table for other buyers.

Opening demand for the second five ounce coin closely matched the first. Buyers scooped up about 19,000 of the Hot Springs coin by the evening of its first day on sale.

The United States Mint collected over $5.1 million in sales on May 17, the day the Yellowstone coin launched. The 18,143 sold represents unique buyers paying $279.95 each, since the issue has a one coin per household limit.

That sales level is supportive for a potential solid demand environment for upcoming strikes in America the Beautiful Five Ounce Silver Uncirculated Coin Program. Especially when considering that the Yellowstone National Park silver coin did not enjoy several distinct benefits surrounding the first Hot Springs release, including:

  • A pent-up demand advantage of being the inaugural issue in a new coin series, the
  • Momentum due to expectations of a first day sellout, and a
  • Significantly lower premium as it relates to the coin’s melt value

In terms of perceived price differences, both coins opened at $279.95. However, the London Fix silver price was at $48.70 an ounce when Hot Springs launched and at a much lower $36.28 an ounce for the debut of the Yellowstone. Based on the melt values of both coins (each contains five ounces of .999 fine silver), their launch day premiums were significantly different. The Hot Springs’ cost over melt came in at $36.45, or 15.0 percent, while Yellowstone was at a much higher $98.55, or 54.3 percent. Despite the at least perceived price differences, opening demand was still nearly equal between the two coins. That would seem to bode well for the series, although it is way too early to make that call.

To order the Yellowstone National Park Silver Coin, visit its product page located in the Mint’s America the Beautiful Quarters section at http://catalog.usmint.gov/or call the United States Mint directly at 1-800-USA-MINT (872-6468).

The United States Mint officially called the Hot Springs five ounce coin a sell out on Thursday, May 19, or three weeks to the day after it was released. The coin unofficially sold out one week earlier when the Mint took in the maximum 27,000 orders. However, it still allowed interested parties to join a "waiting list" in the event one became available due to an order cancellation.

{ 10 comments… read them below or add one }

jim May 21, 2011 at 8:57 am

Your calculations are off for the Yellowstone coin since the actual London fix price for silver on May 17 was $34.28 compared to the reported $36.28. But the point still serves – a $7.29 premium per oz for the Hot Springs coin and a $21.71 premium per oz for the Yellowstone coin. Silver should join gold and platinum in the coin pricing grid as should palladium if the decision is to release a palladium eagle in 2012.

Templeton May 22, 2011 at 2:29 am

I don’t think they should change the price based on the price of silver. This way collectors will get the coins. Buy the bullion ones if you want to play the silver market. With a mintage of only 27,000, I don’t see the price of silver being a factor in the long run. They are selling for quite a bit over issue on secondary market. I got an email already that mine is on the way. I can’t wait for the next one.

jim May 22, 2011 at 10:03 pm

Really? I mean REALLY? Are you just picking on silver coins or do you think they should set the price of a gold eagle or buffalo to $2000 so collectors can buy them and bullion investors won’t? Platinum eagles to $2500 for the same reason? Why do you think they’re considering palladium? So the coins will be at a lower price so that thousands of collectors won’t be priced out of the market like they are now for the gold and platinum coins.
The 5 oz ATB are selling for over issue because they’re rare coins (first 5 oz coin) with a very small mintage. And yet it took almost 3 weeks to sell out – not that hot an item even for collectors, looking at $1400 for all 5 2010 coins. There aren’t that many (especially young) collectors who have that kind of money available for the next 10 years.

Templeton May 22, 2011 at 10:37 pm

If they raised the prices too high, collectors won’t buy them.
These are selling out at their current prices, so why would they need to lower prices? You say they are rare, but you think they should lower the price?
These aren’t a commodity. If they priced them based on the silver a lot of collectors would be locked out and dealers would have them. The price discourages people buying them just for the silver. Buy the bullion ones if you are worried about the price. $1400 for year is less than the price of 1 gold buffalo coin. Check out what other mints around the world price their silver coins. I don’t care what they do with the other coins. I am just sticking with these. In 2008 the mintages of a lot of coins were low and they sell for a premium. So, if they raised the price and had a lower mintage they would hold their value or appreciate. $55 an oz for a limited minted coin is a reasonable price. I don’t think I am picking on coins. People are buying these coins at the current price with no intention of keeping them and making money off collectors selling them on Ebay. Big coin dealers were offering $50 for people to buy them for them on the first one. Of course they were going to mark them up. As soon as you see one sell for less than the issue price talk to me. If you don’t buy one someone else will. There was a waiting list on the last one. Almost 70% sold on first day. I’m for collectors. Look at bullion ones from last year. Mint sold them chep to dealers and they made a killing on them selling to collectors. That is what happens when price is to cheap. The first one sold out in 2 weeks and there was a waiting list after that. Not that hot of an item? I’m not sure what your idea of a hot item is?
Young collectors can but other coins. There are a lot of coins they can’t buy.
There is a pretty good premium already on the coins you mention. Much higher than the $100 or so on the 5 oz coin. I would imagine the 5 oz coins are more costly to produce than 1 oz gold coins which have $200 – $300 premiums. I think silver will be over $100 someday, so I don’t mind paying $55 an oz for a rare coin. When it is, what do you think people will be paying for the first ones with a mintage of 27,000? Personally, I think they are going to raise the mintages. When you mint fewer coins, the cost of producing is spread over fewer coins.

jim May 23, 2011 at 8:43 am

Huh?
Gold and platinum coins are priced on cost of metal, cost to manufacture and margin. I’m just saying that the same rules should apply to all precious metals including silver and palladium.

Templeton May 23, 2011 at 10:00 am

If the price was lower, demand would go up. Then everyone would be fighting to get their order in. A lot of people would be frustrated racing to get their order in. Almost 70% of these sold the first day. Bullion ones can be had cheaper if price is too much.

rob May 23, 2011 at 6:47 pm

Just got my coin today. Has a line or scratch going across the word STONE. my hot springs had the wave effect on the SPRINGS. So much for quality on these collector coins.

jim May 24, 2011 at 8:33 am

You’re sure it’s not just in the plastic? You might want to return it and ask for a replacement it since they’re not sold out yet (but hurry). You’re lucky you got an early delivery so you can try anyway. Or buy in the secondary market where you can tell if it’s flawed or not before buying.
It’s a new size and new equipment so maybe there will be some mistakes. They do happen even with the circulating coins on occasion. Still not acceptable, I know.

Templeton May 27, 2011 at 9:30 am

Almost 25,000 gone by Sunday. Next one available June 9th.

Templeton June 1, 2011 at 11:41 pm

Mint is showing Yellowstone coin as sold out. A little over 2 weeks to sell out. They don’t have a waiting list either. Next one available on June 9th. If a person collects all 55 of them, they will end up with 275 oz of silver. That is a nice little pile of silver. It will be interesting to see what the price of silver will be in another 10 years.

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