2010-P Mount Hood Five Ounce Silver Coins Order Limit Removed

The United States Mint has removed the household ordering limit for the 2010-P Mount Hood National Park Silver Uncirculated Coins. The product originally went on sale July 28, 2011 with an ordering limit of only one per household.

Sales for the fifth numismatic release of the five ounce silver coins has been slower compared to the initial releases. The Hot Springs coin had sold approximately 25,000 in the opening period and had sold out after 15 days. The Yellowstone coin sold 24,626 in the opening period and also sold out after 15 days. For the entire offering period for these two designs, an ordering limit of one per household remained in place.

Subsequent releases did not experience rapid sell outs and each had the ordering limit removed for a portion of the sales period. The Yosemite coin had initial sales of 20,511, the ordering limit was removed after 30 days, and a sell out occurred after 41 days. The Grand Canyon coin had initial sales of 19,300, the ordering limit was removed after 41 days, and a sell out occurred after 65 days.

The Mount Hood offering is now been available for 41 days. The number of units sold per week has shown a quick deceleration.

The table below shows the number of units sold for each weekly reporting period. The aggregate sales through August 29 are 19,645 out of the 27,000 maximum. (A sales report for this week is expected to be available late today or tomorrow.)

8/1/11 14,759
8/8/11 2,745
8/15/11 1,198
8/22/11 640
8/29/11 303

 

The sixth numismatic release for the America the Beautiful Five Ounce Silver Coins featuring Gettysburg National Military Park is scheduled for release September 22, 2011. Details regarding the maximum mintage, pricing, and household limit have not yet been provided.

Facebook Twitter Email

Comments

  1. MarkInFlorida says

    One of each of the numismatic version is enough for me. I’d rather get more of the bullion. Numismatic versions often end up selling for bullion prices.

    As for gold, I’m reading that the Swiss franc being lowered in value and pegged to the Euro will mean that as the only safe haven left, gold is going to go up some more. The governments are trying to force the gold price down, but that’s not working because a lot of people no longer trust paper money.

  2. auxmike says

    My 9/11 medal arrived today. It’s a LOT nicer than I anticipated. Matte finish mixed with mirror brilliance. They did a nice job on it and the packaging is top notch. As a NY’er, I had to have this one….
    Oh, it looks like the P series 5oz ers are a dud, stick with the much better looking bullion versions folks.

  3. chris says

    2011 atb p mark 5oz coins. Mintage 35000. Limit 5/hh. So far same price as 2010’s. Straight from customer service at mint.

  4. BigHock says

    Wow. I am surprised that they increased the mintage of these. I am not sure that i am going to order more. I am stopping at the 2010s – less mintage of both buillon and P series. I am interested in others thoughts on this.

  5. Louis says

    If that is true, it is a huge mistake that will kill this series. I will use the ATB funds for something better. However, I have read many time on this blog comments from people who said customer service told them something that turned out not to be true, so I will wait until it is official.

  6. Rick says

    I’m not sure what it is that would kill the series? At 5 per HH the dealers/graders wont have to use as many friends/family to buy them. If silver approaches 50.00 oz. again these will sell out. If I’m wrong, then perhaps we’ll have another First Spouse situation with micro mintages–just what I’d like to see happen–I really like those small Spouse numbers and no, the Spouse series isn’t going away any time soon, and neither are these. IMO.

  7. Louis says

    Good points, Rick. I was wondering about the 5 h/h limit too but I will believe that when I see it on the Mint’s site. Seems odd to go from 1 to 5. As for mintages, the 35,000 ATB’s have probably all been made already (they have to be made in 2011) and will eventually sell out, as you say. The FS are different. They make them in batches. That is why some have such low numbers.

  8. says

    Wow, if Chris is right, then we could see my scenario of sub-10,000 sales for Gettysburg (notwithstanding other factors like a run on silver products due to price increases anyway).

  9. Louis says

    But we already know the full mintage has been minted, which is now believed to be 35,000, because the Mint has already stated that all 2011 coins have been made. If the limit will really be 5, the Mint will probably eventually sell all of those minted. Remember they can keep selling them next year if necessary as they plan to do already with some of the 2011 issues. Sorry, CO, but Gettysburg will not be a 10,000-issue coin. I will bet you a virtual beer! ATB does not equal FS!!

  10. ClevelandRocks says

    Wow, we will only have a one tier increase at most today. Gold down around $70 in past 36 hours. Not sure why. Maybe even the never-ending sales of the ’10 silver sets will occur once again with no price chance?

  11. David says

    Dont forget to put money by for the 25th anniversary set,with 5 more atb’s 5oz and 25th i will be broke by the end of the year.

  12. In the Middle says

    When I see that Michael reports it then I’ll believe it. Till then speculation, that’s all, and there is too much of that here already. So until then all I know is the Gettysburg 5 oz will be released this month with an unknown mintage, with an unknown household limit, at an unknown price.

  13. says

    Louis: I should temper my remark by saying my 10K (or sub-10K) predictions are for the initial sales only. I do think total sales will go higher than 10K, though Gettysburg is the first AtB I’ve thought might not sell out after one year (again, presuming no dramatic runups in silver like we had in April).

    I’ll take that bet for the virtual beer though! 😉

  14. Brad says

    As someone else mentioned, there will be a two-tier price increase for gold coins today. This comes despite the recent free-fall, due to the average being two-tiers higher and the Wed pm fix being higher than the tier in use as well.

    However, when the coins once again go on sale at two-tiers higher prices, this is definitely NOT the time to buy. Wait until the Thursday and Friday fixes are in before crossing that bridge. If the price stays down, there should be at least a one-tier price decrease next week, possibly even two. So, we will have come full-circle then. Don’t be one of the people who overpay for these coins during what could turn out to be a one week increase!

  15. jimmy says

    at least they can return it again. the mint should impose no return policy with an exception that a coin with a nick or a scratch., otherwise all coins fall between ms68 to ms70, during old days. ms63. you will be very happy.

  16. Leo S. says

    The FS coins are on sale again with a $50 increase. How long will they be on sale this time? With gold down $55 today, will the Mint reprice next Wed. or sooner? Wish I could figure out which way to jump.

  17. Broooster says

    Well, I am going to wait a week, and see if I cant get a better price on the FS. Whats the worse thing that can happen, they suspend them again??? At this point, its all a game for the Mint, so I guess we all have to be willing to play, and hope for the best price when we decide to order.

  18. Brad says

    Like I said earlier, don’t buy anything just yet. This price increase could be short-lived. If the price stays down long enough to lock in lower fixes on Thursday and Friday and lower next week’s average price, then there may well be a price decrease next week on Wednesday. I’m sure the Mint won’t suspend and reprice before then, since this time it’s to their advantage to leave the higher-priced coins up.

  19. GMS says

    The mint has the Gettysburg ATB list with the 35,000 production and 5 per household under upcoming products, for those interested.

  20. limalo says

    Interesting to note from the latest sales report that the 2010-P Grand Canyon National Park sales continued to climb. With a limit of 27,000, somehow the Grand Canyon managed to reach 27,884 coins sold. The three previous coins in the series all reached the limit of 27,000 where sales were ended, but this one has amazingly exceeded the limit by nearly 900. How does the Mint explain this? What does this mean for announced limits for any coins in the future? What does this say about the Mint’s reliability?

    LL

  21. Brad says

    Limalo,

    I’m sure the Grand Canyon anomaly will be adjusted down to an even 27,000 units when the dust settles.

    35,000 for the 2011-P ATB is too high. It’s possible that they might all be sold though, depending on how long the Mint is willing to leave them in the catalog. I can’t see too many people having faith that these will be secondary market winners, but you never know. I won’t be buying any more than one of each, if I buy them at all. I don’t really think I want to bother with this series, since it could turn out that their value will be dictated by the value of the silver bullion they contain.

  22. Rick says

    I just talked to US mint sales person and she stated that they may be rethinking the order quantity on the 2011 P 5 oz Gettysburg to be one per household.

  23. limalo says

    “…they may be rethinking the order quantity on the 2011 P 5 oz Gettysburg to be one per household.”

    Wouldn’t it make more sense to start out with a limit of one per household so that all those who would like to get just one would have the best chance to do so? After a week or so, the Mint could then extend the limit to 5 to see how things go and then remove the limit entirely if necessary as was done on previous ones in the series. Wouldn’t something like that be a more sensible approach?

    LL

  24. Louis says

    I agree that the Mint should start with one per h/h and then increase later after people have had a chance to get one. I suspect they will eventually sell 35K but what will that number do to secondary market values as others suggest above? it may be more than the market can absorb in a short period, as happened with the 2010’s.
    Captain: Sorry I misunderstood your point. 10K initial sales is definitely possible. Looks like i may owe you that virtual beer!

  25. art says

    As far as the Grand Canyon limit, the mint sent me four of them and all four went back because they were all garbage quality. The GC was the worst of them so far quality-wise. So subtract my recent 2 returns and all of the others that are probably going to be returned, and voila, you may be back around 27,000. Shame on the mint for the garbage they’ve been producing.

  26. DS says

    “Wouldn’t it make more sense to start out with a limit of one per household so that all those who would like to get just one would have the best chance to do so? After a week or so, the Mint could then extend the limit to 5 to see how things go and then remove the limit entirely if necessary as was done on previous ones in the series. Wouldn’t something like that be a more sensible approach?”

    Yes that would be the most sensible approach and would make it easier for the collectors to order. However, if the Mint wants to make more money, the limit of 5 is actually a wise idea. This way, there will be plenty of speculators/flippers buying larger quantities. This will make it seem like there is a high demand and then people who would have passed this offering might be drawn back into it b/c of fears of missing out. This could push sales up and be good for the mint (and it might be good for the 2010 ATBs if the 2011s actually sell more and see sustained demand).

  27. Phil says

    I ordered the Mt Hood 5 oz ATB coin last month, and was very pleased with the coin. I love the way the lake seems to “shimmer” as the coin is tilted, changing the way the light hits it. I’ve never seen a coin do that before. I effect is quite stunning.

  28. Zwiggy says

    Well, if you look at how all the 2010 ATBs look in hand with the relief and the design, the most stunning would be the Mt Hood coin. The water is OK, but the trees and the mountain look great, especially on the large 5 oz coin.

  29. Two Cents says

    To Art @ Sept. 7, 2:56 pm,

    Good observation, Art. Could it be that the Mint kept accepting orders for the Grand Canyon 5-ouncers because so many were being returned? Perhaps in the beginning, people had second thoughts about extending themselves and/or panicked when silver spot was dropping. Then later, people were returning the lesser-quality pieces. The Mint kept recycling the coins, hoping that the newer buyers would keep the coins. They also didn’t have a handle on how many were coming back, so they kept the orders open. That’s why the sales report shows over 27,000 sold.

    With the ordering closed, the Mint is trying to recycle the lesser-quality coins as much as they can. But they can only do this up to a point, and they will be stuck with the ones that are obviously unsellable.

    Perhaps when the dust settles, the final sales amount may very well be below 27,000. Maybe 26,500?

    If the Mint is having quality issues on these large coins, the third-party graded ones may command a premium over raw coins. I’m talking about SP69. Right now, in the secondary market the raw coins in original government packaging (OGP) are priced higher than the SP69 graded coins. But if quality — or the perception of quality — becomes an issue, then the graded coins would be in greater demand.

  30. Mike says

    Hmmm. Bought the first 5 of these, and would like to continue, but I just bought a 10 oz lunar dragon. It looked too kewl.

  31. Louis says

    Two Cents: good points, but why are prices on SP70’s dropping so fast? You can buy a GC 70 for a little over $400.

  32. art says

    To Two Cents: I think you got it right. The mint had a problem with a bad 2010 lot and decided to sell what they could. For all of the ATB’s the mint probably produces over 27,000 as a buffer for returns with problems or other issues. In this case, the problems were beyond fixable because there were so many, hence the final numbers for the Grand Canyon may come in at a number other than 27,000 depending on how many people do return the garbage-quality goods.

  33. Louis says

    Mike: Smart move on your Dragon. Those coins are selling like crazy and prices are going through the roof. I bought a 5 oz last week for about $260 and on e-Bay the bid on one is up to $350 already and the auction is not over for a day.

  34. Frankie says

    I honestly think NGC and PCGS are missing out on something – a special “US Mint Rubbish” label. I’ve got so many coins over the last two years that were simply embarrassing and would have easily deserved such a label – just now I got the W 1oz silver medal with an almost 1/2 inch smudge on the front…
    On a different note, I (like many others) was hoping for a lower mintage of the 2011 P 5oz’ers. And letting everyone order 5 basically means a run on the first day (like Hot Springs) – the first hour to be precise – with some die-hard collectors missing out to flippers. This 5 per household limit basically means 7000+ orders – which was easily achieved, if my memory serves me right, even for the last 2010 P 5oz’er. I guess we’ll find out…

  35. says

    Mike, very good buy in regards to the Dragon. I’m thinking of making a post on the situation regarding those coins this week. I managed to get in for a 2 oz silver at APMEX just before they ran out.

    If I may ask, where did you buy from? Are non-Ebay dealers still accepting orders for them?

  36. Louis says

    Looks like all the retailers are out of all Dragons except the kilos. That’s why e-Bay prices are so high now. Wish I had grabbed a one ounce proof but now they vare gone period even on e-Bay.

  37. Two Cents says

    To Louis @ Sept. 7 – 4:02 pm,

    I haven’t paid much attention to the SP70s, so can’t give you a really good answer. But to tell you the truth, I can NOT really see a physical difference between the 70s and the 69s, and in fact, I’ve seen a few 70s with tiny imperfections (a smudge, a hairline scratch, small discoloration, etc.). Maybe it depends on the amount of coins to be graded or the time of day, or whether the grader has had his cup of coffee.

    What were the Grand Canyon SP70s first selling — $600, $700? Maybe the design itself had a higher market base because of the park’s popularity and name recognition. I know that the raw Grand Canyons in OGP were selling for more than the sold-out (at the time) raw Yosemite coins, and even more than what the Mint was selling them (when they were still taking orders).

    Maybe now, people see the Grand Canyons as just another 5-oz. silver piece, with not much of an added premium for its popularity as a vacation destination. Thus, the inflated price for the SP70s have fallen to more reasonable levels.

  38. simon says

    One thing to keep in mind IMHO is that paying premiums for SP70 is paying for the label, specifically for moderns. The coins all look the same to the naked eye and my personal preference is for OGP. A nice coin in OGP trumps TPG opinions.

  39. Louis says

    All great points, Two Cents. I have received very nice coins from the Mint that probably would grade 70’s but will not have them graded. I mainly mentioned it because of all the quality problems people seem to have with the GC’s. But I agree, there are better ways to invest $400.

    By the way, what do people think of the gold decline despite all the info. in the last two days that is bullish for gold like the Swiss deciding to do everything possible to devalue their currency, thus eliminating it as a safe haven? Is this an example of gold price manipulation? .

  40. Two Cents says

    To Frankie @ Sept. 7 – 4:15 pm,

    I had to laugh at your comment about “US Mint Rubbish” labels on NGC- and PCGS-graded coins.

    But NGC did do something like that in the past. Remember the waffled coins? A Mint contractor runs error coins through a destructive process which leaves them in a wavy, waffle-like condition, and are then sold as scrap. I’ve seen NGC-slabbed ones as “WAFFLED CANCELLED” and up for auction on eBay at $20-$50 with no takers.

    I don’t know if NGC still slabs them as such. But they’re good for a laugh.

  41. Two Cents says

    To Simon @ Sept. 7 – 5:25 pm,

    I agree with you … the difference, if any, between a modern coin graded 70 and 69 is so miniscule that people are actually paying for the label and not the coin itself. I can see why you would prefer a raw coin in the OGP.

    For myself, I am torn about raw in OGP or graded 69s in slabs. I have both in my collection, and don’t know which version I will continue to collect. I like the raw ones because the OGP is “official,” and gives the coin an aura of completeness, which is everything to a collector.

    But I like the slabbed ones because I don’t have to open anything to look at it. I just pick it up and there is the coin in all its glory. With the raw coin, I have to slide off the sleeve, open the box, then pry the coin out. The capsule is embedded in the box so tightly that I am afraid that one day I’ll jerk it free, flipping it into the air, and crashing it onto the floor.

    The slabbed coin is easier to display too — just prop it up and there it is. Onlookers also seem to “oooo” and “aaaah” more with the slabbed coin than the raw one.

    And finally, the slabbed ones are cheaper than the raw coins. I’ve actually been able to buy slabbed 69s for less than what I paid the Mint.

  42. Two Cents says

    To Louis @ Sept. 7 – 5:32 pm,

    I don’t know enough about the gold market, gold indusry, monetary fiscal economies, fiat currency control, etc. to make a knowlegeable comment on gold manipulation.

    Howevver, it appears that any kind of market manipulation may work in the short term, but in the long run, the market itself will determine the true value of things. Volatility in god will eventually be ironed out, but for now, hang on for the ride!

  43. David says

    May I ask what are the 10 oz, 5 oz, & 2 oz silver dragons everyone is talking about? I am guessing Perth Mint but I didn’t think they had a production limit.

  44. DS says

    “May I ask what are the 10 oz, 5 oz, & 2 oz silver dragons everyone is talking about? I am guessing Perth Mint but I didn’t think they had a production limit.”

    Yes people are talking about the coins from the Perth Mint and yes it appears there is no mintage limits except for the silver 1oz (300,000) and the 10 kilo (500).

    https://www.kitcomm.com/showthread.php?t=90711

  45. Louis says

    But everyone, including the Perth Mint, is sold out right now, and the proof versions, which are also sold out, are very limited mintage. Only 5,000 one ounce proofs, and 1,000 three-coin sets with a 2 ounce, 1 ounce and 1/2 ounce.

Leave a Reply

Your email address will not be published. Required fields are marked *