Precious metals investors and collectors alike have been looking forward to a new silver bullion coin series expected to be released by the United States Mint before the end of the year. The series will feature designs showcasing the beauty of National Parks combined with the appeal of five ounces of .999 fine silver.
The new bullion program was conceived as part of a broader measure, which created a new series of circulating commemorative quarter dollars. Public Law 110-456 called for National Parks and other federally protected areas to be represented on unique designs appearing on the reverse of the quarters. The different areas will be presented from 2010 to 2021 at a rate of five designs per year, with the order determined based on the original date designated.
The law further provides for the issuance of an accompanying silver bullion investment product. The designs will be a duplicate of the corresponding quarter dollar, but presented on a larger 3 inch diameter. The composition of the silver bullion coins will be .999 fine silver, which is indicated on incused edge lettering. Production levels have been established at 500,000 coins for the first year of issue.
So far, exact release dates for the America the Beautiful Silver bullion coins remain unknown, however by law the silver coins can only be issued during the same calendar year of release as the corresponding quarter dollar. This means that the bullion coins featuring Hot Springs National Park, Yellowstone National Park, Yosemite National Park, Grand Canyon National Park, and Mound Hood National Forest must be issued before the close of 2010.
Distribution of the silver bullion coins will take place through a network of authorized purchasers. These large scale bullion buyers purchase the coins directly from the US Mint in bulk quantities based on the market price of silver plus a mark up. In turn, the coins are resold to other smaller dealers as well as the public. The possibility still exists for collectors versions, which would be sold directly to the public at fixed prices.
Learn more about America the Beautiful 5 oz silver coins. There will be five different coins released during 2010, starting with the Hot Springs Silver Bullion Coin.