Today, November 6, 2014 at 12:00 Noon ET, the United States Mint began accepting orders for the Everglades National Park Five Ounce Silver Uncirculated Coins. This represents the twenty-fifth overall release within the numismatic series of large sized silver coins.
The reverse of the coin, which was designed by Joel Iskowitz and engraved by Joseph Menna, features a scene of an anhinga with outstretched wings on a willow tree with a roseate spoonbill visible in the mid-ground. The inscriptions read “Everglades”, “Florida”, “2014”, and “E Pluribus Unum”.
As with all previous releases within the series, the obverse features the 1932 portrait of George Washington designed by John Flanagan with inscriptions “United States of America”, “Liberty”, “In God We Trust”, and “Quarter Dollar”. The coin carries the “P” mint mark to represent the West Point Mint.
Each coin is struck in 99.9% silver with a weight of 5.000 troy ounces. The precious metal purity and weight are included as incused edge lettering. The diameter of each coin is 3.000 inches and the thickness is 0.165 inch. These numismatic coins carry uncirculated finish created through a vapor blasting technique.
The United States Mint has established a mintage limit of 30,000 for this release. The same limit has been used for the prior three releases of the series. However, a lower limit of 25,000 had been established for the first release of the year featuring Great Smoky Mountains National Park.
Pricing for the coin is $154.95 plus applicable shipping and handling. This is the same price level used for the previous releases of the series for this year. However, the prior four coins had been eligible for a discounted price of $139.45 if ordered through the US Mint’s online subscription program. Following the launch of the Mint’s new website, the subscription discounts are no longer offered.
Silver Numismatic Product Price Decrease Possible?
Over the past three months, the market price of silver has declined from above $20 per ounce to its current level around $15.40 per ounce. The extent of the decline raises the possibility that the US Mint may decrease the prices for silver numismatic products.
The US Mint is able to adjust the prices for gold and platinum products as frequently as weekly under a flexible pricing system. The prices for silver numismatic products may only be adjusted through publication within the Federal Register and such changes have only occurred following substantial price changes in the underlying metal.
The last pricing adjustment for silver numismatic products had occurred in July 2013. At the time, the market price of silver had dipped below the $20 per ounce level and product prices were decreased by $5 for each ounce of silver content.
Based on this and previous price changes for silver products, the US Mint seems to be responsive to silver market price changes of around $5 per ounce. This suggests that $15 per ounce may be a key level in determining any potential silver product price changes. Collectors contemplating purchases of silver products should keep in mind the possibility that prices may be lowered if silver recedes further.