Several threads already started on these 5 oz. America the Beautiful quarter dollar bullion coins... sure there will be more to address this new series in coming days... "Ready?" you asked... Well, people already buy, collect and pay some premiums for the 10 oz. Australian bullion coins. They even sell a 1 kilo piece. 5 oz. partly seems like a concession to have something similar yet different, more affordable than a size and design in 10 oz. or 1 kilo coined rounds for the collectors of US special coin products. In that op ed article you linked to he used the word 'novelty', I don't see how this is a surprising notion given this piece nor amongst collectors and investors of any thing else they purchase for collections or investments. I'm curious about the face value of these proposed 5 oz. America the Beautiful bullion version quarter dollar coins. It is to bear the quarters design and inscription "quarter dollar" as the face value, 0.25¢, per H.R. 6184, yet it will contain 5 oz of silver bullion. Why not a face value of $5 per the 5 oz.? I am aware of the $5 bullion and commems already bearing the $5 denomination. I ask because it seems odd to allow 5 oz. of bullion to be marked less than just 1 oz of silver bullion as in the ASE, which has a face value of $1. Is this correct? Maybe the 5 oz. coin will be like large print books for aging eyes to appreciate.
If I am going to buy a five ounce coin, I will stick to the Mexican onza series with "Libertad" in all her glories. Much more attractive than some stick in the desert coin.
I'm trying to understand why Congress, in all their "infinite wisdom", decided to include a 5 0z coin. First of all if silver stays at it's current price the precious metal value would be $80-$85. Then you would have the markup from the U.S. Mint so you're probably looking at a coin that will be over $100 dollars. Second if the designs on the state quarters are any indication of what we'll get on the these coins I'd rather not spend that much money on mediocre designs. Third, we're in the middle of a recession and I have read news stories saying things are getting better but how many people will have the money to spend on these coins along with the other hundreds of items that the Mint puts out every year. I have to agree with the Scottishmoney. If I buy a 5 once coin it probably would be a foreign coin and not these coins. Just my opinion of cousre
These are silver manhole covers. :rolling: How are we supposed to display them...is Dansco gonna come out with an Album? Hmmm...56 x 5 / 14.58 = 19.2 pounds ...you'll need a forklift to lug the album around The Mint will probably put them in some sort of fancy box to justify a 30% markup. It'll be interesting to see how PCGS slabs this thing.
LOL! I thought you were trying to buy some of those HUGE 10 oz. Australian Kookaburras last weekend...? Those are 75.5mm in diameter x 8.7mm thick in comparison. Their kilo coins are bigger yet! 101mm in diameter and 14.6mm thick!!! I wish the Mint would sell ALL Mint products optionally in the plastic coin holder, without boxes and decorative packaging for several bucks less. I agree. I was pondering this too in one of the other many threads on these new coins started here... These slabs will be ginormous!
i doubt the mint will sell these directly to customers or include any packaging. These are for investing in a higher amount of silver instead of being only able to buy 1 oz. These won't be meant for collectors like the unmarked ASE's but that doesn't mean people won't collect them.
They just shouldn't happen, period. The US Mint has been an underwhelming lackluster performer as far as turning out original and attractive designs. They have gotten so bad in fact that they now have to re-hash 100+ year old designs like the WL Half, the reverse of the Morgan dollar and the Liberty $5, the Buffalo nickel twice over, then the UHR Saint thing. What they need is not to re-hash old designs but come up with something that people will want, and pay money for, so we won't look to Mexico or China to produce attractive, sometimes even cute coin designs. Quite bluntly the Mexican 5 Onzas is a very attractive coin with a design that would never ever go over with the US Mint. I also like the Panda coins, China has a winner with those, and they change the designs all the time, so no two years are the same. My kids all like the Panda rounds, but could quite frankly care less about the ASE's. They also need to get away from this dime store design garbage with all this presidential, state, territories, colonial possessions, state park nonsense.
All jokes and complaints aside, I think this is a good way to get into the silver game with cost averaging. If the mint marks the coin up similar to a silver eagle then the cost of the markup would be spread across the 5 ounces. I.E. less markup than buying 5 silver eagles. $500 a year does not seem too unreasonable and I think a bullion piece twice the size of a morgan or ASE would be pretty cool.
The coins will be distributed through the US Mint's authorized network of bullion dealers. The will be sold exactly as the uncirculated ASE.
I'm looking forward to them. I have some large ANA medals and the make great presentation pieces in my display cabinet. The idea of a gleaming 5oz silver quarter has me very interested, especially if the price is reasonable. I'll just switch my bulk silver purchase budget to the big quarters for a while. I wonder if they'll do a Dansco for them?
That Dansco album would have to have 4-6 coins per page to fit. Now imagine if there is a Proof, Burnished and Business strike to collect. It would basically be one album per year.
Good point...but I don't trust the Mint to charge the same markup as the 1 Oz ASE...otherwise, who would buy the ASE?
Well right now no one is buying the ASE because they are not offering it due to planchet supply issues so I can only hope.
Here's where I think it gets interesting... The national Parks can buy the bullion coins from the mint and repackage them for resale, but no coin can be sold after the year of the quarter's release. I wonder how that's going to work and how the mint can keep tabs on the actual mintage. The only way I can see this working is that the "US Mint" can only sell the coins in the year the corresponding quarter is minted, but if a National Park purchases a lot of coins from the Mint, repackages them, the National Park may be able to sell them until their stock runs out...which may be quite some time after the year of the quarter. Something to think about. America's Beautiful National Parks Quarter Dollar Act of 2008. (H.R. 6184) http://www.parkquarters.com/nationa...on/text-of-national-parks-quarter-legislation SEC. 201. SILVER BULLION COIN. 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. `(3) DISTRIBUTION- `(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.’.
