Theodore Roosevelt 5-ounce silver August 29
- Published: Aug 3, 2016, 5 AM
An initial maximum allotment of 120,000 coins is established for the bullion version, with an additional 30,000 intended to be minted as the Uncirculated 2016-P numismatic version. Should bullion coin demand exceed the 120,000 coins allotted, more bullion coins could be produced, and the numismatic mintage reduced so that combined bullion and numismatic production does not exceed 150,000 coins.
The Uncirculated version is on the Mint's product schedule for release sometime in October. Both the Uncirculated and bullion versions are struck on the same dedicated press at the Philadelphia Mint.
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Unlike the Uncirculated version, which the Mint offers directly for public sale, the bullion version is sold by the bureau to its network of authorized purchasers, who are able to maintain a two-way market with their customers for the bullion issues. The authorized purchasers buy the coins on a given day based on the closing London PM spot price plus a premium of $9.75 per coin.
The coins are then offered at a markup to other dealers, collectors and investors.
The authorized purchasers were also notified by U.S. Mint officials that the 2016 Harpers Ferry National Historical Park 5-ounce silver bullion quarter dollars are still available. Through Aug. 2, the Mint recorded sales of 34,200 of the Harpers Ferry silver bullion coins, of the initial possible mintage of 120,000.
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