The U.S. Mint sold out its entire allocated mintage of the new American Liberty Silver Medals in a matter of minutes on the first day the .999 fine silver pieces were available.
Acclaimed Silver Medal Design
Building upon the success of the American Liberty design that debuted on a $100 collectible gold coin last year, the 2016 Liberty Silver Medal has been praised for its detailed and symbolic design. The clean elegance and simplicity of the design have obviously been given merit by collectors, who have also signaled their excitement with the novel portrayal of Lady Liberty.
It only took six minutes before sales were suspended as the mint's maximum allocation of 25,000—12,500 each for the proof (S - San Francisco) and uncirculated (W - West Point) versions—was reached. This occurred even with the restriction that each household was limited to ordering two coins (of each version).
Although this newest issue is based on a coin that was released by the mint last year, bearing the same basic design elements as the 2015 $100 American Liberty 1 oz Gold Coin, this 2016 American Liberty Silver Medal is not legal tender. It is a silver medal rather than a coin. While it doesn't use the same High Relief as its predecessor, the fact that the American Liberty design is featured on a silver medal allows for other design elements (like inscription) to be arranged differently. This undoubtedly adds to the artistic quality of the medals.
Gold Liberty Coin
The 2015 High Relief $100 Liberty Gold Coin released last year saw a similarly high level of popularity. It was the first $100 gold coin (commemorative or otherwise) ever issued by the U.S. Mint. It had a maximum overall mintage of 50,000 pieces with a household ordering limit of 50 coins. The coins are struck from extra-pure .9999 fine gold.
The well-received design shows a more modern depiction of the traditional symbol of America and liberty, Lady Liberty. She wears a laurel crown and holds both a torch and an American flag. On the reverse of the coin (and the silver medal), a bald eagle is shown in fantastic detail carrying olive branches as it flies toward the left.
Due to their popularity, both the gold coin and the silver medal have quickly seen significantly higher premia on the secondary market as collector and investor demand far outstrip supply.
You can watch a video of these beautiful silver medals here.
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