Block Island silver bullion quarter dollar last in 2018
- Published: Oct 16, 2018, 4 AM
The United States Mint will begin accepting orders Nov. 26 from its authorized purchasers for the fifth and final 2018 America the Beautiful 5-ounce silver bullion quarter dollar.
The issue bears a reverse design commemorating the Block Island National Wildlife Refuge in Rhode Island.
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The reverse for the Block Island coin was designed by U.S. Mint Artistic Infusion Program Artist Chris Costello and sculptured by U.S. Mint Sculptor-Engraver Phebe Hemphill.
The design depicts a black-crowned night-heron flying over a view from the beach at Cow Cove looking towards Sandy Point. The North Light lighthouse is seen in the background.
The U.S. Mint expects total demand to reach 52,000 coins, the same total reached for the fourth issue, for Cumberland Island National Seashore in Georgia. Should the Mint’s projections hold true, total sales of 5-ounce silver bullion coins in 2018 will total 194,500 coins, or 972,500 ounces.
The sales breakdown reflects 30,000 each of the Pictured Rocks National Lakseshore, Apostle Islands National Lakeshore, and Voyageurs National Park coins, and 52,000 each for the Cumberland and Block Island bullion issues.
The U.S. Mint does not sell its bullion coins to the general public because it does not offer a two-way market buying and selling.
Instead, the bullion coins are sold through the authorized purchasers, who buy the coins based on the closing London PM spot price of the metal on a given day plus an established premium. For the 5-ounce silver quarter dollars, the authorized purchasers acquire the coins from the Mint based on the closing spot price plus a premium of $9.75 per coin.
The coins may then be resold to the general public, investors and other dealers for a small markup.
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