2016 Cumberland Gap 5 Oz Silver Bullion Coins Debut at 48,000

April 19, 2016 by · Leave a Comment 

On Monday, April 18, the United States Mint started selling 2016 Cumberland Gap 5 Ounce Silver Bullion Coins to its network of bullion distributors. This latest silver coin is the second of five America the Beautiful 5 Ounce Silver Coin designs for 2016. It commemorates Kentucky’s Cumberland Gap National Historical Park.

Cumberland Gap National Historical Park quarter

Cumberland Gap National Historical Park coins depict a frontiersman gazing across the mountains to the West

First-day sales of the bullion piece reached 48,000 units or 240,000 ounces in .999 fine silver. The amount is 15.8% higher than the start of the previous release depicting Shawnee National Forest in Illinois, which earned opening day sales of 41,800 coins but now totals 105,000 coins for the largest tally since the second series release in 2011.

Five-ounce silver coins are produced at the U.S. Mint in Philadelphia to a large 3-inch diameter. The U.S. Mint’s bullion distributors order them in bulk, a minimum of 500 at a time, at their melt value plus a $9.75 premium per coin. Then they sell them to various kinds of investors, dealers, and consumers.

America the Beautiful 5 Ounce Silver Bullion Coins have a brilliant finish. In about 2-1/2 weeks, on May 5, the United States Mint will release a collector version to the public for $149.95. It is identical in designs and specifications to the bullion edition except it has an uncirculated finish and a ‘P’ mintmark.

Earlier this month, on April 4, the U.S. Mint started selling circulating quality Cumberland Gap National Historical Park quarters in rolls and bags. They are available for purchase at usmint.gov/catalog.

The quarters and 5-ounce silver coins share the same designs, including their inscriptions down to "QUARTER DOLLAR." The reverse features a frontiersman gazing across the mountains to the West, symbolic of the many pioneers who used Cumberland Gap on their journey into the western frontiers of Kentucky and Tennessee. Barbara Fox created the design and Joseph Menna sculpted it.

Quarters and 5-ounce silver editions do have different edges. Quarters have reeded edges while the 3-inch silver coins have flat edges with incused lettering of ".999 FINE SILVER 5.0 OUNCE."

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