Silver Sellout Likely for 5-Ouncer
June 15, 2011
Collectors have snapped up 20,511 of the uncirculated 2010 Yosemite silver 5-ounce uncirculated collector coins in the first few days of its availability, according to a June 12 U.S. Mint tally.
The coin, the third design of the series, went on sale June 9.
Quantity available is 27,000 pieces and it would appear at this junction that this coin will sell out as the first two did.
Perhaps miraculously the issue price is the same $279.95 figure that prevailed for the first two designs.
Who would have forecast that just six weeks ago?
Before the offering of the Hot Springs design April 28 when silver nearly reached $50 a troy ounce it looked like a price adjustment higher was already in the cards, but then the price of silver bullion turned lower and the result has been stable ATB prices.
That probably has disappointed a few buyers who were hoping that silver would be $60 or $70 by now, but it appears most buyers would rather participate in the high- grade lottery. They hope to get delivery from the Mint of a coin that will grade out by a third-party grading service at MS-70. They might settle for MS-69, but anything less seems to prompt some grousing about quality.
This is speculation of another kind.
Are there any collectors left out there who just want to have a 5-ounce coin in their collections?
That’s probably too much to hope for in the highly charged financial casino environment we are living in at the moment.
That’s probably why my online seminar topic tomorrow at 4 p.m. Eastern time is silver investing rather than the joy of collecting Lincoln cents. Sign up by scrolling to the bottom of the home page.
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