United States Mint reports Homestead silver bullion sellout
- Published: Mar 31, 2015, 9 AM
A week after the U.S. Mint resumed sales to its authorized purchasers of 5-ounce silver 2015 Homestead National Monument of America quarter dollars, officials announced March 31 that the issue is considered a sellout.
Total sales reached 35,000 coins.
The 5-ounce coins have a maximum combined authorization of 65,000 coins in 2015 bullion and Uncirculated 2015-P numismatic versions. The Uncirculated coins, with a maximum release of 30,000 coins, will go on sale at noon Eastern Daylight Time April 13.
Both versions of the 5-ounce silver 2015 Homestead National Monument of America quarter dollars are struck at the Philadelphia Mint on a special dedicated press, but only the Uncirculated version bears the facility's P Mint mark.
The bullion coins first went on sale to authorized purchasers on Feb. 17. On Feb. 25, officials announced a temporary sellout, with sales to resume March 9. At the time of the Feb. 25 announcement, sales reached 20,000 of the maximum 35,000.
Sales of the 5-ounce bullion coins resumed March 9, but were suspended later the same day, before resuming a second time on March 23.
The 5-ounce silver bullion coins are not sold to the general public, but are distributed through a network of authorized purchasers who offer a two-way market in the coins. The authorized purchasers acquire the coins for the closing PM silver price according to the London Bullion Market Association plus a premium of $9.75 per coin. The authorized purchasers may then resell the coins to other dealers and the general public for a small markup.
The Uncirculated 5-ounce silver coins are sold directly to the general public. The Uncirculated 2015-P Homestead coin went on sale by the U.S. Mint on March 5 for $149.95 per coin. When the Uncirculated 2015-P Kisatchie National Forest 5-ounce coins goes on sale April 28, the retail price will also be $149.95, but is subject to change based on the price of silver on the metals market.
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