Today January 12, 2012 at 12:00 Noon ET, the United States Mint will begin sales of the 2011-P Vicksburg National Military Park Five Ounce Silver Uncirculated Coins.
The reverse design of the coin features the U.S.S. Cairo on the Yazoo River as it would have appeared while serving the Union Navy during the Civil War. This image is intended to be representative of Vicksburg national Military Park in Mississippi. The reverse was designed by Thomas Cleveland and sculpted by Joseph Menna. The obverse features the 1932 portrait of George Washington designed by John Flanagan.
Each coin is struck in five troy ounces of .999 fine silver and has a diameter of three inches. The coins carry an uncirculated finish created through a vapor blasting technique and contain the “P” mint mark. Both of these characteristics differentiate the coins from the bullion version of the coin released during 2011.
The Vicksburg Five Ounce Silver Uncirculated Coins are limited to a total mintage of 35,000 coins. For the start of sales the US Mint is imposing an ordering limit of five per household.
The coins will be priced at $204.95 each, which will be the lowest starting price so far for the numismatic series. The first release of the series were priced at $279.95 each. The price level was lowered to $229.95, and later $204.95.
The most recent price was established by publication in the Federal Register dated December 30, 2011, although the price change was made effective for available designs on December 27. On these two dates, the price of silver was $28.65 and $28.18. Since the start of the new year, silver has moved higher with the current price at $30.60.
If the upswing in silver continues a suspension and repricing for the ATB Five Ounce Silver Coins becomes a possibility. The US Mint has not publicly stated their criteria for pricing changes to these products, rather they keep catching many collectors by surprise.
The other numismatic five ounce silver coins still available for sale at the Mint include the designs for Gettysburg National Military Park, Glacier National Park, and Olympic National Park. Each is priced at $204.95.