Sales by the United States Mint of the 2016 Shawnee National Forest 5-ounce silver bullion quarter dollar are nearing the maximum initial sales limit of 120,000 coins.
As of March 7, the sales to authorized purchasers totaled 105,000 coins. Sales began Feb. 1.
The Mint set a limit of 150,000 coins combined for the 5-ounce silver bullion coin and the Uncirculated 2016-P 5-ounce silver coin. An initial ceiling of 120,000 bullion coins was established by Mint officials, with an opportunity for increase as long as the combined total for the bullion and Uncirculated numismatic versions does not exceed 150,000 coins. Under that scenario, the Uncirculated 5-ounce silver 2016-P Shawnee National Forest quarter dollar would have a final mintage below the initial 30,000-coin mintage limit set for that version.
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The bullion and Uncirculated versions of the Shawnee National Forest 5-ounce silver coin are both struck on the same dedicated press at the Philadelphia Mint. Only the Uncirculated version bears the facility's P Mint mark. The same blanks are used to strike both versions, except the Uncirculated version receives a post-strike finish.
The 5-ounce bullion coin version is not sold directly to the public. The coins are sold to a network of authorized purchasers who buy at a price based on the closing London PM spot price of the metal per troy ounce on a given day, plus a premium of $9.75 for each 5-ounce coin. The price for a bullion coin can fluctuate daily.
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The Uncirculated versions are sold directly to the public at a set price, subject to price change weekly based on the spot price. The current price per coin is $149.95. Sales began Feb. 25 and had reached 15,263 coins by the Mint's latest published weekly sales report, dated Feb. 28.
Silver American Eagles
Authorized purchasers continue to buy up the U.S. Mint's weekly allocation of American Eagle 1-ounce silver bullion dollars.