Precious Metals

Orders for 5-ounce silver Harpers Ferry coins June 6

The U.S. Mint's authorized purchasers began placing orders June 6 for the 2016 Harpers Ferry National Historical Park 5-ounce silver bullion coins, the first day the coins were available.

Orders were placed for 33,000 coins, or 165,000 ounces of silver. The issue has initial maximum production ceilings of 120,000 of the bullion version and 30,000 of the Uncirculated version, the latter version bearing the P Mint mark of the Philadelphia Mint. The bullion version carries no Mint mark.

The suggested maximum number of 5-ounce silver bullion coins can be increased above the 120,000 initial ceiling if demand warrants it, as long as the overall combined total of bullion and Uncirculated strikes does not exceed 150,000 coins.

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The previous 5-ounce silver bullion issues for 2016 celebrating the Shawnee National Forest and Cumberland Gap National Historical Park had the same mintage divisions as the Harpers Ferry issue. The Shawnee National Forest issue registered sales of 105,000 of the bullion version of the coins, while the Cumberland Gap National Historical Park release recorded sales of 75,000 bullion version coins. Each of those coins went off sale when sales of the next coin began.

The 5-ounce silver bullion coins are sold by the U.S. Mint to a network of authorized purchasers who purchase the coins based on the London PM closing spot price per troy ounce of silver on a given day plus a premium of $9.75 per coin. The coins are then resold at a markup to collectors, investors and other dealers.

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