The United States Mint on Tuesday let its distributors know that they may order 2011 Chickasaw National Recreation Area Five Ounce Silver Bullion Coins on Monday, July 18, 2011.
Marking the fifth and final five ounce bullion issue of this year, the Chickasaw Silver Bullion Coin follows the 2011 Vicksburg National Military Park Silver Bullion Coin for Mississippi, which was released on June 20, 2011.
The Chickasaw Five Ounce Silver Bullion Coin honors Chickasaw National Recreation Area located in the state of Oklahoma. Like all of the five ounce coins, it features the same design as the corresponding America the Beautiful Quarter. The bullion coin will proceed the Chickasaw National Recreation Area quarter since the 25-cent piece is not scheduled to enter circulation until November 14, 2011. The United States Mint will also offer a five ounce collector uncirculated version at some future date (the Mint is currently toward the end of issuing the 2010-dated collector versions).
Chickasaw Coin Design & Specifications
The Chickasaw coins’ reverse design, created by Donna Weaver, features Lincoln Bridge which was built of limestone and dedicated in 1909 to celebrate the centennial of Abraham Lincoln’s birth.
Unlike quarters which have a reeded edge, all United States Mint five ounce coins have an edge inscription of ".999 FINE SILVER 5.0 OUNCE." Their silver composition is the same fineness that is found within the popular silver American Eagle coins, the only other investment-grade silver bullion offering from the Mint. The five ounce coins boast a large 3.0 inch diameter and a thickness of 0.165 inches, as compared to the quarters which are 0.955 inches in diameter and have a thickness of 1.75 mm. Other design details, including the obverse portrait of George Washington and the inscriptions, like "QUARTER DOLLAR," are identical.
US Mint Bullion Coin Distribution Method
United States Mint bullion coins are not offered directly to the public. Instead, the bureau sells them in bulk to its network of "Authorized Purchasers" at silver spot plus $9.75 per coin. AP’s then resell the coins in smaller quantities into the secondary market for a small premium above the cost of silver. When it comes to the America the Beautiful Silver Bullion Coins, AP’s must place a minimum order quantity of 500 ounces/100 coins, with 500 ounces/100 coin ordering increments. The order minimum was reduced this month, having previously stood at 10,000 ounces/2,000 coins, with 500 ounces/100 coin increments.
Five Ounce Bullion Coin Mintages & Sales
The United States Mint will allocate an initial quantity of 126,700 Chickasaw Five Ounce Silver Bullion Coins. This is the same mintage as each of the previous four 2011-dated issues.
Every 2010-dated bullion coin sold out, helped by their lower per coin mintage of 33,000. The first two 2011-dated issues also sold out. They honor Gettysburg National Military Park in Pennsylvania and Glacier National Park in Montana. The third issue, the Olympic National Park Five Ounce Silver Bullion Coin, has sales of 80,700 as of July 11. The fourth Vicksburg National Military Park Five Ounce Silver Bullion Coin has sales of 21,800, also as of July 11.
The United States Mint has not offered any of the 2011-dated collector America the Beautiful Five Ounce Silver Uncirculated Coins. The final 2010-dated issue celebrating Mount Hood National Forest in Oregon will launch on July 28 for an expected price of $279.95. The 2011’s should follow shortly after in incremental releases.