Cumberland Gap 5-ounce silver bullion on sale
- Published: Apr 18, 2016, 4 AM
Direct sales to collectors and others of the Uncirculated 2016-P version begin at noon Eastern Time May 5. The Uncirculated version of the coin will be offered at $149.95 per coin.
Both the bullion and Uncirculated versions are struck in the same dedicated coinage press at the Philadelphia Mint, with only the Uncirculated version, for collector sales, bearing the production facility's P Mint mark.
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The authorized purchasers buy the bullion version of the coins from the U.S. Mint based on the spot price of the metal per troy ounce according to the London PM fix, plus a premium of $9.75 per coin. The coins are then sold into the secondary market to other dealers, collectors and investors.
According to U.S. Mint officials, "The current authorized mintage limit for both numismatic and bullion 2016 America the Beautiful Five Ounce Silver Coins for Cumberland Gap National Historical Park is 150,000 coins. An announced maximum potential mintage limit of 30,000 coins has been set for the America the Beautiful Five Ounce Silver Uncirculated Coin – Cumberland Gap National Historical Park. However, based on demand, the United States Mint may mint and issue more than 120,000 America the Beautiful Five Ounce Cumberland Gap National Historical Park Silver Bullion Coins so long as it does not exceed the 150,000 coin limit."
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