July 14 sales for Unc. Harpers Ferry 5-ounce silver
- Published: Jul 4, 2016, 5 AM
Sales by the United States Mint of the Uncirculated 2016-P Harpers Ferry National Park 5-ounce silver quarter dollar are scheduled to begin at noon Eastern Time July 14.
The coin, to be offered at $149.95 each, has a maximum mintage limit of 30,000 coins.
The combined total between the Uncirculated version of the coin and bullion version of the coin, which is not available to everyone directly from the Mint, may not exceed 150,000 coins.
That means the initial maximum mintage for the bullion version is 120,000 coins. But, should demand warrant, additional bullion coins could be produced, cutting into the 30,000-coin maximum mintage of the Uncirculated version.
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There is no household ordering limit for the Uncirculated version.
What's the diffference between the bullion and Uncirculated coins?
The bullion and Uncirculated versions are struck on the same coinage press at the Philadelphia Mint. The Uncirculated version receives a post-strike finish and bears the P Mint mark; the bullion version has neither.
The Mint offers the Uncirculated version of the 5-ounce silver coins directly to the public, with pricing subject to potential change weekly based on metal price fluctuations.
PRECIOUS METALS BASICS: How does the bullion market work?
The bullion version is not available to everyone directly from the Mint. It is sold to authorized purchasers approved by the U.S. Mint to purchase bullion coins. The authorized purchasers buy the coins from the Mint based on the closing London PM spot price on a given day, plus a premium of $9.75 per coin. The coins are then sold to other dealers, collectors and investors at a further small markup.
The Uncirculated version is meant more as a collector's item, while the bullion coin is meant as a tool to invest in silver. The bullion coin's value is in its silver content, which one can expect to fluctuate with silver's spot price.
More about Harpers Ferry
The reverse design on the coins honoring Harpers Ferry National Park, which has parts located in West Virginia, Virginia and Maryland, features a rendering of John Brown’s Fort. The fort is the site of the abolitionist’s last stand during his raid on the Harpers Ferry Armory.
But Harpers Ferry is significant for more than just John Brown.
"The history of Harpers Ferry has few parallels in the American drama," the park's official website reads. "It is more than one event, one date, or one individual. It is multi-layered—involving a diverse number of people and events that influenced the course of our nation's history. Harpers Ferry witnessed the first successful application of interchangeable manufacture, the arrival of the first successful American railroad, John Brown's attack on slavery, the largest surrender of Federal troops during the Civil War, and the education of former slaves in one of the earliest integrated schools in the United States."
The reverse design was executed by U.S. Mint Artistic Infusion Program artist Thomas Hipschen and engraved by U.S. Mint Medallic Sculptor Phebe Hemphill.
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