5 ounce silver US Mint quarters

Discussion in 'Bullion Investing' started by CentDime, Dec 18, 2008.

  1. CentDime

    CentDime Coin Hoarder

    It looks like starting 2010 the mint will issue 5 ounce silver coins for the National Parks Quarters.



    Section 5112 of title 31, United States Code, is amended by inserting after subsection (t) (as added by title I of this Act) the following new subsection:

    ‘(u) Silver Bullion Investment Product-

    ‘(1) IN GENERAL- The Secretary shall strike and make available for sale such number of bullion coins as the Secretary determines to be appropriate that are exact duplicates of the quarter dollars issued under subsection (t), each of which shall--

    ‘(A) have a diameter of 3.0 inches and weigh 5.0 ounces;

    ‘(B) contain .999 fine silver;

    ‘(C) have incused into the edge the fineness and weight of the bullion coin;

    ‘(D) bear an inscription of the denomination of such coin, which shall be ‘quarter dollar’; and

    ‘(E) not be minted or issued by the United States Mint as so-called ‘fractional’ bullion coins or in any size other than the size described in paragraph (A).

    ‘(2) AVAILABILITY FOR SALE- Bullion coins minted under paragraph (1)--

    ‘(A) shall become available for sale no sooner than the first day of the calendar year in which the circulating quarter dollar of which such bullion coin is a duplicate is issued; and

    ‘(B) may only be available for sale during the year in which such circulating quarter dollar is issued.


    ‘(A) IN GENERAL- In addition to the authorized dealers utilized by the Secretary in distributing bullion coins and solely for purposes of distributing bullion coins issued under this subsection, the Director of the National Park Service, or the designee of the Director, may purchase numismatic items issued under this subsection, but only in units of no fewer than 1,000 at a time, and the Director, or the Director’s designee, may resell or repackage such numismatic items as the Director determines to be appropriate.

    ‘(B) RESALE- The Director of the National Park Service, or the designee of the Director, may resell, at cost and without repackaging, numismatic items acquired by the Director or such designee under subparagraph (A) to any party affiliated with any national site honored by a quarter dollar under subsection (t) for repackaging and resale by such party in the same manner and to the same extent as such party would be authorized to engage in such activities under subparagraph (A) if the party were acting as the designee of the Director under such subparagraph.’.
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  3. jaceravone

    jaceravone Member

    GOOD GRIEF!!!!! With everything coming out next year, now I have to worry about how to afford these big 5 ouncers. I definitely am not ruling out not buying them, but I would like to take a look at them first.
  4. Troodon

    Troodon Coin Collector

    Er so that double negative mean you're ruling out buying them (therefore not buying them)?

    Well I know I'm not buying them! I thought the Mint recently figured out it has to limit its product line, because of how many things are not selling... then Congress passes nonsense like this (yeah I know, two different branches of government, but still...)

    Not buying any 5 ounce silver "coins" thank you. And I think it was silly to to do DC and the territories in the first place. I will only get them incidentally as I get a proof set every year, that will presumably have one each of clad, normal size, DC and territorial quarters in them. (4 president dollars, Sacagawea, the new Native American dollar, 6 quarters, 4 pennies, then the nickel, dime and half dollar of course... wow that's going to be a huge proof set!)
  5. andrew289

    andrew289 Senior Analyst

    This is NOT TRUE !!!!!!!

    The 5 ounce silvers are for the: NATIONAL SITE QUARTER DOLLARS.
    This series will start in 2010.

    So,.... all of you Territory Quarter HATERS can breathe a sigh of relief.
    There won't be any 5 ounce DC quarters floating around for you all to be hating on....hahahaha.
  6. jaceravone

    jaceravone Member

    Yeah, I guess I will definitely consider whether or not I will chose not to buy these. If the price is right, I will possibly consider whether or not I will definitely buy them. Of course, if I don't like how they look then I will have to defiinitely not rule out the possibility that I won't buy them at all. But if I still can't make up my mind then, I would say that I will poll the group at CT as to whether or not I should possibly purchase them or even think about purchasing them. :p

    Troodon this is what happens when you can't sleep and you are sitting on the couch at 2am.... you end up not making any sense at all. Thanks for pointing that out. That was funny. :mouth:
  7. jaceravone

    jaceravone Member

    I don't know crap about what makes the market go up or down or what influences the price of what..... but I am quite sure that we will never see silver reach $50/oz in our lifetimes. Now don't get me wrong..... I will not complain if it does and I will be the first in line to cash in my hoard, but the circumstances behind why the market jumped up to $50/oz in the 80's is not in place. I don't see anyone cornering any markets and artificially inflating any prices. I know that wasn't the only reason.... but it was a big reason and contributed to the increase signicantly. Please correct me if I am wrong or enlighten us as to the other reasons. Lets not worry about silver getting to $50/oz but rather lets just hope that it rises to $20/oz so many people can break even with all that silver they bought earlier in the year.
  8. Conder101

    Conder101 Numismatist

    The Sacagawea and the Native American dollar are the same coin.
  9. mikenoodle

    mikenoodle The Village Idiot Supporter

    Looks like they did us a favor. The 5 oz. coins will not be included in Proof or Mint sets, nor will they be the circulating design for the quarter.

    We may get back to a single 25¢ coin per year again. If nothing else, a return to the old design of the washington quarter if not a complete redesign. YES!!!!
  10. Conder101

    Conder101 Numismatist

    Did you see this part of the Act

    That is the part that specifies that they be exact duplicates of the National park quarter designs So FIVE different five oz silver bullion coins each year, not a single design.
  11. ML94539

    ML94539 Senior Member

    They might sell for about $100 each.. Don't think there will be much demand for them. I don't mind if it's one ounce, 5 ounces is too big and expensive.
  12. mikenoodle

    mikenoodle The Village Idiot Supporter

    ummm, must have missed that part conder. Maybe it was just wishful thinking on my part. I don't want all of these commems!!! We're headed for the BTW debacle all over again.
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