The United States Mint has suspended sales of the 2012-W Proof American Silver Eagle. A message on the product page indicates “This product is temporarily unavailable for product repricing.”
The one ounce silver coins originally went on sale April 12, 2012 priced at $59.95 each. This price was established through publication in the Federal Register dated March 12, when the market price of silver was $31.47. With the price of silver recently dipping nearly $5 below that level, it seems that the US Mint has suspended sales in order to reduce the price of the offering.
In order for new prices to become effective, they must be published within the Federal Register, a process which can take a few days or a few weeks. Once the process is complete, sales will resume with the new prices in effect. In some instances when the market price of silver has reversed course during a suspension, sales have resumed with no price change.
No other silver numismatic products are suspended at this time.
As explored in this post, the prices for the America the Beautiful Five Ounce Uncirculated Coins were last adjusted when the market price of silver was around $29 per ounce. In recent history, the prices for annual sets with silver content have been increased based on higher silver prices but not decreased. Commemorative silver dollars typically have not had their prices adjusted midstream, except for the known pre-issue discount.
The repricing for the 2012 Proof Silver Eagle closely follows the conclusion of sales for the 2012 San Francisco Silver Eagle Set, which some collectors felt was priced too high at $149.95 for one proof and one reverse proof coin bearing the “S” mint mark. During the course of the four week ordering window, London PM Fix silver prices ranged from a high of $29.28 to a low of $26.81.
The US Mint recently published the price of the 2012-W Uncirculated Silver Eagle scheduled for release on August 2, 2012. The price is indicated at $45.95, the same price level as the prior year coin which still remains on sale.