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.