2011-P Glacier Five Ounce Silver Uncirculated Coin

Tomorrow October 25, 2011 at 12:00 Noon ET, the US Mint will begin sales of the 2011-P Glacier National Park Five Ounce Silver Uncirculated Coin. Overall, this is the seventh numismatic release of the America the Beautiful Five Ounce Silver Uncirculated Coins.

The reverse design of the coin features a view of the northeast slope of Mount Reynolds with a mountain goat climbing over rocky slopes in the foreground. This was designed by Barbara Fox and sculpted by Charles L. Vickers. The obverse contains the 1932 portrait of George Washington by John Flanagan.

Each coin is struck in 5 troy ounces of .999 fine silver and has an extra large diameter of 3 inches. The coins include the “P” mint mark and have a special finish created through a vapor blasting technique.

The US Mint has set the mintage limit at 35,000 coins, with an initial ordering limit of 5 coins per household. The price of each coin is $229.95 plus applicable shipping and handling.

This release comes a little more than a month after the unusual start for the last design featuring Gettysburg National Military Park. The US Mint began sales on September 22, with the coins priced at $279.95 each.  On September 26, sales were suspended along with other silver numismatic products due to a sharp drop in the market price of silver. Initial sales figures, reflecting orders placed through September 26, came in at 9,549.

The following week, total sales of the 2011-P Gettysburg coin showed a decline of 506 units, resulting from order cancellations and returns. Product sales resumed on October 7, at a lower price of $229.95 per coin. Total sales regained lost ground and as of the latest sales report (October 17), sales had reached 13,157. This is a significant change from the collector response to the initial numismatic release featuring Hot Springs. On the opening day of sales, the US Mint’s website crashed and initial orders reached approximately 25,000. Starting with the third release of the numismatic series, initial sales have experienced a steady decline.

Looking ahead, the US Mint has scheduled the next numismatic ATB release featuring Olympic National Park for November 29, 2011. This will represent the eighth numismatic 5 ounce silver coin release of the year. The remaining two 2011-dated numismatic ATB coins are listed as “TBD”  and it seems will likely be released in 2012.

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  1. says

    It will be very interesting to see how this release holds up against the oncoming 25th anniversary set. Putting them two days apart was an unwise decision by the Mint – any “second wind” the series had from the price cut is going to be lost, since I’m expecting most people will be keeping the powder dry for the 25th anniversary set. They should have released this coin in November and then released the other 3 in 2012 – that might have improved sales.

    It seems like they’re trying to rush the AtBs out the door, for reasons I don’t fully understand. Could they be trying to pad their end of year sales numbers?

  2. Egger says

    Anyone who wants one can wait until Thursday to buy the 25th and the ATB, The question is though, will you be still able to buy all 5 2011 ATB’s at one time : )

  3. Fosnock says

    They have to Rush them out the door, they have two more months to get 3 more coins out. I imagine although they may continue to sell these coins in 2012 but they will not mint them in 2012. What would be the point, they can not sell the bullion versions in 2011. Why run the presses for just the collector version especially when you have to still get the 2012’s out (and take advantage of the cheap silver prices)

  4. says


    My understanding is the 2011 silver AtB coins are already all minted, and have been for some time. It was mentioned, I believe, sometime after Mount Hood had gone on sale. At the time I had been expressing some hope that the numismatic program would be shut down to help rejuvenate the faltering bullion program, and if memory serves me correctly, someone (perhaps Louis or Michael) said they’d already all been produced and were waiting to be sold.

    As for not releasing the last two 2011 AtBs in 2012, there really is no reason they can’t do it. Remember that the 2010 numismatic AtBs were all sold this year rather than last. The numismatic program, I believe, is Mint run, as opposed to being mandated via legislation, and so they can pretty much do what they want with it.

  5. mookem says

    Um… I am keeping all coins in their original shipping boxes and I only have six so this would be the seventh.

  6. Michael says

    Captain Overkill-

    I don’t remember reading anywhere that all of the 2011 Silver ATB numismatic coins have been minted. (If anyone has any information to the contrary, please post.) I have mentioned a few times that legally, they can only mint the 2011-dated coins in 2011, which leads to the conclusion that they probably would produce the full maximum mintage before the close of the year. Then they could sell them at any time in the future.

    In the long term, the Mint really needs to rethink how they handle this series. Both bullion and numismatic sales have slowed dramatically. The 35,000 maximum for numismatic issues is clearly too high.

  7. BigHock says

    With the first year of 5oz mintage being the lowest, I think the ensuing years will show some fatigue both in terms of lower numismatic values and lower sales. I am done after the 2010 5 ozers

  8. vaughnster says

    I’m done with the numismatic ATB 5 ozers also. Got a few each of the 2010 P’s but from here on out I’ll just purchase a bullion set. I think the bullion looks beeter anyway. Unless something drastic happens with the mintages, my money is going elsewhere.

  9. simon says

    My plan is to collect the P series. I am very ambivalent towards the bullion version – there are just too many TPG-orchestrated sub-types, which makes for a very confusing series. I tell myself – keep it simple – the P version in OGP.

  10. says


    My apologies. I was going off memory and didn’t mean to claim you’d said something you hadn’t.


    I am increasingly going along with your line of thinking. I am not sure I’ll be able to collect all the 2011-Ps or not. Hopefully they will give more support to the bullion series next year and cut the AtB-Ps loose. It’s distressing to hear how poorly they’re performing on the secondary markets ($205… ugh).

  11. vaughnster says


    The Mint’s $50 price reduction has pretty much killed off the 5 oz ATB secondary market for now. I still have several graded and also in OGP’s and will have to sit on them until the prices go back up (hopefully soon.) This is the chance we took buying numismatic versions of the ATB’s at $100 MORE per coin than the same coin in bullion.

  12. Ikaika says

    Something definitely needs to be done by the US Mint to save the ATB series. I think from here on the sales will continue to shrink as with the First Spouse series. Could the numbers reach the low 1000’s?

  13. says


    Before today’s sales report, I’d have said that the first week numbers for Glacier would be 7,500-10,000 much like Gettysburg, due to the price cut spurring sales.

    Now, I’m not so sure. I think they’ll be lucky to sell out of Gettysburg, I think there’s basically no chance they’ll sell out of the other four offerings this year. The one thing which might reverse this is a dramatic silver price upswing similar to what we were getting with gold in late August – a big enough jump might scare some people into buying in anticipation of a price increase.

    But besides that, I’m not sure what else the Mint has left in its toolkit to spur sales growth at this point.

  14. Frankie says

    Silver has inclined to $33.25 as I am typing right now. There is a risk that prices for silver coins will increase again shortly… I just ordered the latest P-ATB to be on the safe side. You never know with the mint…

  15. Zaz says

    The Mint is back where it was three years ago in ’08 with a expanded repertoire of numismatic offerings. They are after collectors’ money, that much is obvious, but they never seem to learn from their past mistakes. It’s pretty likely that contraction of the catalogue will happen again, it just remains to be seen if the uncirculated ATB 5oz survive the purge or not. My thinking is 2011 will be the high water mark of the series at 35,000/126,500 mintages, even though the series is still its infancy, unless it really takes off in 3-5 years.

    The slow start to the last three releases, was rather to be expected. Seems that collector fatigue/”sophomore slump” on these large, heavy and difficult to
    store coins happened quickly. More troubling is the extremely slow pace which the 3 remaining 2011 bullion designs are being sold to the APs. It’s probably indicative of how unpopular these coins are? During the dip last month, couldn’t find a dealer willing to sell silver eagles, yet the ATBs were available and in quantity. A very curious situation.

  16. says

    Hrm, maybe I ought to get a Glacier today after all… if we have another big day like this tomorrow I am worried the Mint might suspend the anniversary set release for repricing.

    Dangit, couldn’t Europe have waited a couple of more days to implode!? 😉

  17. TomP says

    Ordered the Glacier today to fulfill my commitment to the10 & 11 ATB-P series (I actually like the design of this and the next one). Last week I received the Gettysburg on the 17th after ordering on the 7th. I had held off my purchase of the Gettysburg after reading on this blog of a possible price decrease. Thanks for the $50 savings. The coin has the light frosted finish as opposed to my 10’s. Looks great. I wonder if this is due to the new automated vapor process being implemented?
    The next day on the 18th I received an unsolicited US Mint 2011 Fall Catalog. While it mentioned the 25th ASE (referring to the Web for further info), there was no mention of the 5 oz. ATB coins. Why the no publicity?

  18. Clair Hardesty says

    I’ll keep collecting the ATB-Ps as long as the mint keeps selling them. To get the bullion coins to move they need to bring their markup enough below the SAE number to make them attractive to the APs. The real problem is that we virtually give the Eagles away at cost making it difficult to sell the ATBs at any kind of a bargain. The APs need to be able to put a low enough price on the 5oz coins to make them attractive to larger investors in physical silver, the people who buy them by the box. I think the coins would have been vastly more popular if they had been only 2.5 inches and thicker, that would still have been the largest coin in the mint’s inventory. Congress put too many constraints on the coin, not only causing a significant delay in the production, but adversely affecting the acceptance as well.

  19. Clair Hardesty says

    It was starting to look like the mint prices for gold coins was going to take another $50 per ounce drop tomorrow but that hope is squarely dashed. At least it looks like gold has stopped at $1700 and silver at $33, as long as that can hold or fall back we should still get the anniversary sets on schedule. If spot jumps too far, the mint will pull the product off line and it will take weeks for it to come back. They really need a better pricing scheme for silver products.

  20. Ikaika says

    Captain: I agree with you. I am curious to see what will be the next sale figures for the ATBs. Even with a $50 drop in the price, sales continued to decline. Even with silver on the move again and the chance of prices going back to $279 will not make a difference on sales IMO. Maybe the Mint should focus on the bullion version.

  21. Two Cents says

    The Mint is doing an extremely poor job in advertising the ATB silver 5-ounce coins to the general public. There were ads in coin publications, but that is like preaching to the choir. I haven’t seen any ads in the mainstream media, not even in popular magazines with wide audiences. To save the ATB silver program, the Mint has to go beyond the coin collectors and flippers/investors. They claim that there are millions of people who have an interest in coins, but if these people don’t know what’s available, they won’t buy.

    Without publicity, these silver coins will be bought only by coin collectors and flippers/investors, and eventually even the flippers/investors will leave the market. Sales will decline to match the decline in interest, which is already happening. One day, the Mint may decide that it’s not worth the trouble to keep the “P” program alive, and may terminate it prematurely. (The silver bullion program will still continue, as it is required by law.) That would be a shame, as I rather do like these huge coins and would like to have a complete collection with the frosted finish.

    In the future, barring large spikes in silver spot, I see a steady decline in sales, perhaps eventually settling at a mintage of 10,000-12,000 for the later issues, though some may sell out because of a popular park or an attractive design.

    At the very least, the Mint should work with the media to get free TV and newspaper exposure for every design as it comes out, along with instructions on how to order the coins.

  22. says

    My post on the subject is now up if anyone is interested.

    Two Cents, I agree that the lack of advertising is a huge problem. They really need to target silver eagle buyers to make them aware that this alternative coin exists and to build trust and recognition of the product. The people who stack silver eagles would probably love to stack AtB bullion coins with premiums lower than the standard silver eagle.

    Someone mentioned the AtBs weren’t advertised in the fall catalog. The Mint is just going the wrong way on this.

  23. TheCoinKeeper says

    Two Cents,

    I think these 5 ozer’s are a tough sell to the general public. Why buy a coin that costs them $200+, when they can get two folders full of all the state quarters, and the ATB quarters for just 2 payments of $99 from QVC.

  24. Zaz says

    Received the Mint’s Christmas catalogue in the mail today. Still not a word about these pucks in there. What chance does this series stand with the masses if the Mint won’t even market them to the choir?

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