The first of the Uncirculated 2013-P America the Beautiful 5-ounce silver quarter dollars goes on sale May 16 from the U.S. Mint: the coin honoring New Hampshire’s White Mountain National Forest.
Sales begin at noon Eastern Daylight Time at www.usmint.gov.
The bullion versions of the same coin were scheduled to be offered for sale to authorized purchasers beginning May 13.
U.S. Mint officials announced that the Uncirculated 2013-P White Mountain National Forest 5-ounce silver quarter dollar will have a maximum mintage of 25,000 coins.
The purchase price of each coin is $179.95, lowered from the $204.95 last charged for the Uncirculated 2012-P Chaco Culture National Historical Park. That 2012 coin was pulled from sale April 15 amid sliding silver prices, so it could be repriced.
The $179.95 price is $100 less than what the U.S. Mint charged for the first five Uncirculated coins in the America the Beautiful 5-ounce coin program, dated 2010 but released in 2011.
The 5-ounce silver coins have undergone several price adjustments since the Uncirculated numismatic coins were first introduced in 2011. The highest price the U.S. Mint has charged for the 5-ounce coins is the $279.95 price of the 2010 coins.
In 2011, the price was lowered to $229.95 for the 2011-dated coins.
The $204.95 price was first assigned Jan. 12, 2012, with the offering of the Uncirculated 2011-P Vicksburg National Military Park 5-ounce silver coin. That price remained in effect until the Nov. 12, 2012, release of the Uncirculated 2012-P Denali National Park coin, when the price for it and other remaining Uncirculated 5-ounce coins was set at $229.95.
While the bullion and numismatic versions of each coin share the same designs, the collector versions bear the Mint mark of the Philadelphia Mint. The bullion coins are also struck at the Philadelphia Mint, but lack the Mint mark.
The U.S. Mint was scheduled to begin May 13 accepting orders from its contingent of authorized purchasers for eventual resale to secondary market dealers and the general public.
The authorized purchasers purchase the coins from the U.S. Mint for the closing London PM spot price per ounce plus a $9.75 premium per coin.
The authorized purchasers of America the Beautiful 5-ounce bullion coins are the same qualified dealers who purchase American Eagle bullion coins for resale into the secondary market.
The value of the 5-ounce silver bullion version fluctuates daily on the secondary market with the market price of silver. (Pricing for the Mint-marked silver numismatic versions is evaluated by the U.S. Mint weekly, based on silver market prices, and is considered for adjustment accordingly.)
Authorized purchasers were notified by U.S. Mint officials May 8 that initial sales of the bullion versions would be on an allocation basis that would remain in effect until demand for the 5-ounce bullion version can be met.
U.S. Mint officials did not disclose the number of coins necessary to meet the demand.
The available bullion coins were to be allocated as follows:
➤ Each Monday morning, the inventory available for sale that week will be divided into two equal pools.
➤ The first pool of the coins will be allocated equally to all active authorized purchasers.
➤ The second pool will be allocated based on each authorized purchaser’s sales performance with 2011 and 2012 America the Beautiful silver 5-ounce bullion coins.
➤ Each authorized purchaser will be advised via fax Monday morning (or, if a government holiday, Tuesday morning) of its allocation, and the firm will have until 3 p.m. Eastern Daylight Time Friday to place orders for its allocated coins.
➤ Any unordered coins after 3 p.m. Friday will be put back into the pool for allocation the following Monday. ■