Gold, silver bullion on rise, but ATB 5-oz silver coins settle down

By Steve Roach
First published in the February 28, 2011 issue of Coin World

On Feb. 8, silver and gold made a big jump as the U.S. dollar showed signs of weakening and the market reacted to China increasing interest rates in an effort to fight inflation.

However, the 2010 America the Beautiful 5-ounce .999 fine silver bullion coins have not benefited from silver’s rise as prices for the coins have declined sharply.

Silver jumped nearly a dollar on Feb. 8, opening at $29.35 an ounce on Feb. 8 and advancing to $30.40 during the day on the New York markets.

Gold also experienced large gains, leaping to $1,369.30 an ounce after opening at $1,349.50.

After opening the year on Jan. 4 at $1,405.50 an ounce in London, gold gradually sunk to a low of $1,316 on Jan. 28.

Silver has been even more volatile, starting the year at $30.67, before dropping to $29.21 the next day and finding a low of $26.68 on Jan. 28.

Even copper is finding itself at record levels, trading at $4.64 a pound on the Comex division of the New York Mercantile Exchange on Feb. 7. Investors worried that the copper supply may be constricted as Chile — a large copper producer — could face power outages resulting from a drought.

For the 2010 America the Beautiful 5-ounce .999 fine silver bullion coins, what a difference a week makes!

As the number of coins in the marketplace increases, the prices are falling fast for all but the top-quality certified Mint State 69 coins, as dealers seem to be quickly taking profits, liquidating their positions and moving on to put their money into other things.

On Jan. 1, uncertified Uncirculated five-coin sets brought as much as $2,700. A month later, on Feb. 1, uncertified five-coin sets were trading wholesale for $1,900 to $2,000 and a day later they were they were down to the $1,700 to $1,800. By Feb. 8 the prices for the five-coin sets had fallen to $1,400 to $1,550 and on eBay, certified Professional Coin Grading Service “Choice BU” sets were selling for a “Buy it Now” price of $1,650.

Collectors who waited for the initial sizzle to fizzle are now being rewarded with significantly more affordable silver bullion coins.

One wonders how the prices for 2010 issues will hold up several years from now. Will collector demand continue as the series expands with five new coins each year?

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  1. Well, gee, seeing as how the people who were lucky enough to get a set of ATB coins paid only around $930 for them, settling for a measly immediate turn around of $1,400 is nothing to sneeze about either.

    The first set of ATB coins will always fetch a high premium due to their scarcity and uniqueness. They will probably bottom out in a couple of months then start to climb as people who want complete sets enter the marketplace.

  2. One of the United States Mint’s authorized purchasers (CNT) finally put its 2010 America the Beautiful 5 oz silver coins on sale today (March 8, 2011). A buyer was required to call a toll free number between 3:00 p.m. and 5:00 p.m. [EST] in order to purchase the coins. My buddy and I called the number for the complete 2 hour period. We were on separate telephone lines and averaged about 6 calls per minute with redial buttons. This amounts to 4 man hours of calling and a total of 1440 telephone calls. We never got through.
    This is the process the United States Mint has allowed for the distribution these coins. These authorized purchasers are under the auspices of the Mint. This is a ridiculous process and a prime example of the inefficiency of the United States government. Who ever devised this process should lose their job (and let’s not forget our congressmen). And to think, the government is now in control of healthcare – if that does not scare you, then you don’t have a brain.

  3. 2010 ATB 3″5oz Prices

    1.MTB of NY $930 shipped

    2.Fidelitrade of DE $930 shipped

    3.The Gold Center of Ill $975 shipped

    4. A-Mark of CA $975 shipped ((Slabed PCGS F/S Gem BU ))

    5. Apmex of OK $860 shipped ((Second Round of sales Slabbed PCGS F/S BU or Better)) $980 Shipped C/C $1,008.75 Shipped

    6. Jack Hunt of NY $949 shipped ((If your Check was lost you got a PCGS MS-68 Set))

    7. Dillon Gage of TX $937 shipped ((Second round of sales included two A.S.E.)) $1,025 Shipped

    8. Prudential of NY $862.70 + S/H ((Storage Complicated ordering processes))

    9. Coins-N-Things of MASS $930 + $170 ((For $6 Face Value in 90% Silver 12 Barber Half’s))= $1100 shipped

    10.Scotia Mocatta of NY ((No participation))

    11.Commerzbank of NY ((No participation))

    First day of sale’s 12/3/2010 Silver Spot $29.00 4/15/2011 Silver Spot $43.00

    The Mints Nine Authorized Purchaser’s Sold Out of there 2010 allotments on April 25th 2011 in order to acquire there 2011 allotments.

    2010-P 3″5oz Hot Springs ((Numismatic Version)) Launches April 28th Mintage 27 K Price $279 each


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