Proof Silver Eagle Price Reduced

The United States Mint has resumed sales of the 2012 Proof Silver Eagle, with the price of the coin reduced.

Sales were suspended on July 16, 2012 with a notice that the product would be temporarily unavailable for product repricing. At the time, I had noted that the market price of silver had fallen around $5 since the original product price was established.

The original price of the coin was $59.95. The new price following the resumption of sales is $54.95, for a reduction of $5.

Last year, the price of the 2011 Proof Silver Eagle had been adjusted on two occasions. The original price of $59.95 was first increased to $68.45, but then decreased to $58.95.

Sales for this year’s coin are progressing more slowly than the previous two years. As of the most recent numismatic sales report, sales of the 2012 Proof Silver Eagle have reached 492,745 after approximately 15 weeks of availability.

By comparison, the 2011 Proof had reached individual sales of 755,777 after 15 weeks of availability. The 2010 Proof had sold out after less than six weeks, with sales reaching 850,000.

The slower pace of sales for this year’s coin follows a general trend which has been seen across many US Mint products. It may also be partially the result of the increased number of Silver Eagle products that are being offered by the US Mint this year.

So far, the US Mint has released the individual 2012-W Proof and the San Francisco Set containing the 2012-S Proof and 2012-S Reverse Proof. Looking ahead, the US Mint will release the 2012-W Uncirculated Silver Eagle on August 2, the Making American History Coin & Currency Set containing the 2012-S Proof on August 7, and the Annual Uncirculated Dollar Coin Set which is expected to contain the 2012-W Uncirculated coin on September 6.

Facebook Twitter Email

Comments

  1. DB says

    The Mint is flooding the market with too much crap…just like baseball card manufacturers did in the 90’s.

  2. John says

    The part that irks me the most is when they do price adjustments on products after you order them, but before they ship them. Sure, if the price goes up or down after I receive it, that’s one thing, but when the order is sitting there for 6 weeks waiting to ship, that’s something else. Amazon does a Low Price Guarantee, the mint should too.

  3. Brad says

    It’s kind of ironic that the price decrease came down the same day that metals are on the rebound. Silver is back above $27.50 for now.

    On the SF set front, I wonder why the Mint isn’t pushing the original 7/27 ship date back by now? My order placed in the first 10 minutes on June 7 still shows backordered to ship on 7/27. It’s pretty obvious now that will NOT happen.

  4. Hidalgo says

    I guess a price reduction of $5 is better than nothing!

    Also, if there are US Mint items that are of no interest to me, I simply won’t buy it. No sense in fussing over something we have no control of…..

  5. bwicked says

    Yawn! All that drama for a $5 price reduction?

    I’m really getting bored with this hobby. Uninspired designs, marginal quality, poor product calendar/forecasting, subscriptions are a joke, jerking us around on “special” releases, products on sale for years, etc.

    The most interesting release IMHO (at least for one side), has been the 5oz ATB coins and those appear to be on the death spiral.

    I’m taking my money and spending it somewhere I can at least get some enjoyment/entertainment value. Las Vegas here I come!

    – bwicked

  6. Bos says

    Silver eagles were created as an investment vehicle for precious metals, not for collectors. People forget that. In 2010 and early 2011 the relative value of silver was on the rise. More recently it has not been.

    If you take any but a few of the special anniversary series coins to a buyer, you will get $25.00 or so. Why spend $55 or more on something that isn’t sellable for half the value?

    Coin collectors might as well engage in one of the other all-American ways of losing money, such as buying a house or a new car. Either way, you or your estate will never recoup your original “investment.”

    On the other hand, if silver starts to creep up steadily relative to the values of other things, mint product sales will start to increase again.

    It is a matter of people attempting to preserve the value of their hard earned money.

  7. Hidalgo says

    The US Mint produces collector versions of the American Silver Eagle. Verbiage from the US MInt’s website:

    Produced since 1986, the avidly collected American Eagle Silver Proof Coins are collector versions of the official United States Mint American Eagle Silver Bullion Coins. These popular silver collectibles are struck at the United States Mint, West Point, N.Y. This one ounce proof coin is minted to demand. The classic Walking Liberty design by Adolph A. Weinman featured on the coin’s obverse has long been a collector favorite.

  8. Tim says

    The Mint is on Twitter, for everyone wanting to get a few things off their chest, go there. They will respond.

  9. j says

    brad why would you say that’s not going to happen?? it can still ship the 27th why cant it? also if all so unhappy with mints decision to drop just 5$ don’t buy that’s simple

  10. DCDave says

    Maybe the point is that the $5 drop after weeks of unavailability is not likely to make much difference in sales, although anyone with subscriptions to the ASE are probably not happy with the US Mint’s indifference to these dedicated collectors.

  11. Michael in Bama says

    Now that the mint has found a way to rid itself of the EXTRA 2012 S Proof ASE, I have an idea on how they can sell the EXTRA 2012 S Reverse Proof ASE and boost the sales of the 2012 W Proof ASE. …………….. READY……………

    160th Anniversary S&W Freedom Set

    They can even use the EXTRA Blue boxes, That’s Rite Smith & Wesson 1852, Now that would be A Hot Item!

  12. Michael in Bama says

    MY RESPONSE FROM THE MINT:

    Thank you for your e-mail.

    We apologize for any lack of communication on our part that may have led you to assume that the American Eagle Silver Proof Coin with the “S” mint mark would only be offered in the 2012 American Eagle San Francisco Two-Coin Silver Proof Set.

    The United States Mint strives to offer a variety of products in various packaging and price points to help broaden access to our coins. In doing so, we routinely package our coins in various ways to make them as appealing as possible to different customer segments and at different price points.

    Please note that the American Eagle San Francisco Two-Coin Silver Proof Set also contains a 2012 reverse proof, which is not available in the coin and currency set nor is it planned for any other 2012 product option.

    Again, please accept our apologies if the lack of more specific communications related to these two sets caused confusion.

    Sincerely,
    United States Mint

  13. Bill B says

    That’s a bit of good news that the 2012 reverse proof silver eagles are not planned in any other 2012 releases. However I don’t think the US Mint wants to produce low mintage coins in the future. They may be a thing of the past!

  14. DCDave says

    “Lack of more specific communication”, Ha!

    Guess that daily counter thing and the strict one month window was not completely obvious that it only applied to the RP, not the SP, silly me!

  15. DCDave says

    Gee, I just got a note from the US Mint saying “although the 2012 reverse proof is not available in the coin and currency set (duh!), we hope that this new non-specific communication will not lead you to not think that the 2012 reverse proof will not be offered as part of a 2013 special set that will include a 2011 proof Buffalo as well”

  16. alvaro says

    They should change the half dollar design. The Kennedy half design is boring thats why the half dollar is dead this days ugly coin. the Roosevelt dime too I which they change the designs soon.

  17. Hidalgo says

    @Steve – thanks for the update!

    @alvaro – some bloggers here want fewer design changes. You want more changes. Goes to show that you can’t please all the people all of the time!

  18. merryxmasmrscrooge says

    Why are metal prices declining? Just ebbs and tides. Because stocks have been increasing in price: from Dow 6,500 in 2009 to Dow Now almost 13,000, People are making a killing and dancing in the streets, You have $1 bil baby and the stock market goes up 0.1% you make $1 mil, baby. oil speculation rules for the uber rich… and there’s no more need to hoard gold or silver like in the recession of 1980-83. or the 1030s or the 1837 Depressions. After the 1980-83 recession, the metal prices will probably decrease again just like history has it’s ebbs and tides.

  19. merryxmasmrscrooge says

    Kennedy and Roosevelt Rock. We haven’t had anybody even come close lately.

  20. Brad says

    J,

    The reason I said it won’t ship on the 27th is because the order is still in “backorder” status. I’ve never had an order go immediately from backordered to shipped without spending at least 2-3 days in the “In stock and reserved” status.

    I just checked this morning, and the order still shows “backordered” with an estimated ship date of tomorrow, 7/27. At this point it simply won’t happen. But, the date hasn’t started to be pushed back yet. I wonder if it will still say the estimated ship date is 7/27 on 7/28 and beyond?

  21. Jim B says

    I agree that the 5 oz ATB price should be reduced as well. I have my 1 proof SE for 2012.,will not be getting another. But a 5.00 price drop means alot if u are a dealer or flipper, or a collector
    looking to buy the nex item. every lil bit helps.

  22. William says

    The mint should produce a two-dollar coin, made of copper for
    “general circulation” the size of a quarter.

    Time for change…

  23. says

    I was hoping to read on this comment section that SOMEONE—–ANYONE had news that the two coin silver set was shipping! I check on mine everyday and I ordered on the first day! Has anyone called the Mint to ask WHEN they will ship the first ones out? I plan to call this afternoon then!

  24. Richard W says

    Whould someone please give an order statis of the 75 th sets.Instock and reserved . Has your cancel box been removed.Thanks

  25. Broooster says

    Order status, Your order request is in process. Cancel box is still there, and expected to ship 7/27/2012.
    On that note, they have yet to hit my bank account for funds. I don’t see these shipping tomorrow, at least not mine anyway. And for those wondering what date and time I ordered, it was 6/7/12, at 12:20 PM

  26. SmallPotatos says

    I was curious about the “Annual Uncirculated Dollar Coin Set which is expected to contain the 2012-W Uncirculated coin”. When was the last time the Mint offered a set like this? was it 2007 or 2008?

  27. simon says

    It was offered in 2007 and 2008 – I have a copy of each year, and looking forward to the 2012 since I really liked the set. Of note was that some may have found the edge imprint absent on some of the presidential dollar coins in the sets.

  28. Val says

    I really like William’s idea of a two dollar copper coin about the size of a quarter. I hope the Mint considers it.

  29. T1 browserman says

    I am still waiting for the ‘algorithm’ for silver bullion products to be made public……

  30. kbo says

    I place my first order on 6/7/12 at 12:03 it says one reserved and 12 backordered expected to ship on 7/27/12

  31. Richard W says

    The uncirculated dollar set was a great way to collect the golden dollar and W ASE in one set.I have both 07 and 08.To me the series was ruined by the absence of 09 10 11 too bad.Im not sure about buying 12,too much.

  32. ABC says

    With platinum down about 29% from this point in time a year ago, do you guys think it’s still a good idea to buy the platinum proof eagles?

  33. gumbyen says

    Does anyone know what the mint does with returned items? Does it send them out again?

  34. Jim B says

    Seems to me the mint just wants to dump there 1212 Pr SE. Why not all .999 silver then?
    @ABC i think gold,platinum,and SE pr or unc. should be bought with a metal market resale in the forefront of your mind, if you are looking at the coin as a investment that is.
    I dont see much more other then a 1oz unc SE and a 5oz Hawaii that I will be getting from the mint this yr. But hey! Who knows this stuff just comes out of no were and lots of it any more and do thinik lots more to come.
    I have been looking at a very nice 1937-d ms65 Oragon 1/2 dollar. To my eye and pocket it seems like the thing 2 do. Happy coin hunting to all.

  35. Richard W says

    If you’re looking at investment value look to bullion dealers,the mints premiums are to steep for investing.

  36. guama says

    mine still says “backordered” and I ordered about 2:30 on the first day. Don’t think it will be shipped either. I agree with you, Brad. Strange…:(

  37. mookem says

    I ordered 2 of the SF sets on 6/7 and 2 sets on 6/24. Both still have the same backordered status and both “expect to ship on 7/27.” Neither will happen of course and I’m not sure how they received the same ship date to begin with since the 2nd order had a date of 9/28 when I placed the order.

  38. says

    I also agree that the SF sets will not ship tomorrow. I think the main indication is by looking at your credit card activity..until you have at least a “pending” transaction on you cc, it is not about to ship.

    But I also think the 9/28 and 10/31 dates are BS. Once these do start to ship, I think the 9/28 ones could ship by 8/31 and the 10/31 sets no later than 10/15. And I really have nothing to back up my opinion….just a wild guess. lol

    I think what will be intersting to see is when this MAH with the 2012-S Silver Eagle ships.

    It must be the pakaging that is holding up the shipping of the SF sets.

    I also called the mint and complained about this MAH set…and the one thing that I did get confirmed was that this set has been in the works since the beginning of the year. All of of you that thought these were just leftovers from too many minted for the SF set ought to realize that the mint takes months to produce a product.

    Of course, I thing I like about this site, is that once the SF sets do start shipping, everyone will post that here….and I as well as all of you appreciate everyone’s updates.

  39. hi ho silver says

    6/7/12 order date 12:12 AM cancel box still present… I think kbo screwing around. Called Mint about the AM thing…….

  40. says

    Have any of you continuously been asked to participate in a “Mint survey”? I get asked just about every day, but I always have iqnored it, as I just don’t think our opinion really matters to the Mint.

    Today, I finally relented and took the survey…which really doesn’t give you an opportunity to express how you really feel how the Mint is doing. The very last question was along the lines of “what can the Mint do better?”

    I could of gone on and on about this…like leaving coins like the 2011 Buffalo on sale forever…but I only commented of the SF set. I said:

    “Stop with crap like the BS of the SF 2 coin set that was marketed as TWO exclusive coins….only to say….oh, by the way, here is another offering with one of those two “exclusive” coins from the SF set.
    The Mint slapped evertone in the face that purchaed the San Fran set.
    They KNEW all along that one of those two coins would be offered in the “Making of America” set.
    The mint is a joke, has no respect for it’s customers, and ought to be sued for false advertisng. But what is even more of a joke is that the Mint really doesn’t care about their customers opinions, they just do what they they wanna do. I doubt anyone from the Mint will ever see these comments!”

    Oh well, they kept asking, so I finally answered.

  41. Bill B says

    gumbyen says:Does anyone know what the mint does with returned items? Does it send them out again?

    If not obviously damaged, to my understanding they are offered to the people who are on the waiting list after the close of the offering.

  42. hi ho silver says

    Just checked my 1st order, still indicates AM order.Would the Mint like to hire my girl ???? Masters Degree in commuter stuff ??? …….

  43. kbo says

    I know they won’t ship tomorrow S.F.sets but as i said mine still says one reserved and the others backordered..my cancel box still gone.

  44. ClevelandRocks says

    @Steve: Amen. The “on sale forever” proof 2011 Buffalo really irritates me.
    The 220th anniversary set is nothing more than a screw job. I don’t want to buy any $5 bills anyhow. This is even less appealing than medals.
    We may have a silver eagle circus on our hands!

  45. ClevelandRocks says

    Can’t the Mint make a burnished eagle for the 220th anniversary set and make everyone happy? I ordered 2 SF sets on the first day and I plan to inspect the coins carefully and send back for replacement if any problems, but hopefully there won’t be any. I will keep in OGP and enjoy looking at my set.

  46. John says

    SF Set… My C.C. has pending charge this morning plus “In stock and reserved”. Yes!!!

  47. Brad says

    My order of 6/7 at 12:10 is now “In stock and reserved”, with no cancellation box. Watch the Mint prove me wrong and change the status to “shipped” today after all! Not that I would complain about that. This is one time where I wouldn’t MIND being wrong for a change! :)

  48. kbo says

    I don’t know why they just shipped one S.F.set today.the other 12 says in I&R but ‘m glad they started shipping any way. hi ho glad you are getting your’s, overyone have a great day.

  49. Peatsur says

    They should put out a silver coin honering Ronald Regan. He got this whole silver eagle thing started. Most coin collectors and people pushing precious
    metals are conservative in nature and many revere him. I think it would be a popular item with coin collectors.

Leave a Reply

Your email address will not be published. Required fields are marked *