The United States Mint has suspended sales for a number of silver numismatic products, which will have their prices increased when sales are resumed. Over the past two months, the market price of silver has moved up from less than $28 per ounce to nearly $35 per ounce. As silver had approached and entered the $34 to $35 range, I had mentioned on several occasions the increasing likelihood of a suspension and price increase.
The suspended numismatic products include almost all products containing an American Silver Eagle and the nine different available America the Beautiful Five Ounce Silver Uncirculated Coins. When sales are resumed, prices will reflect the following increases:
- 2012 Proof Silver Eagle will be increased from $54.95 to $59.95
- 2011 & 2012 Uncirculated Silver Eagles will be increased from $45.95 to $50.95
- 2012 Annual Uncirculated Dollar Coin Set will be increased from $54.95 to $59.95
- 2011 & 2012 America the Beautiful Five Ounce Silver Uncirculated Coins will be increased from $204.95 to $229.95
In each case, the new price reflects an increase of $5 for each troy ounce of silver content.
Not all silver numismatic products have been suspended. Sales of the commemorative silver dollars, commemorative silver medals, and silver annual sets have continued. Also, the Making American History Coin and Currency Set has continued to remain available for sale.
As I explored at length in this previous post, the Silver Eagles and ATB products were those most likely to see increases. Prices for silver annual sets have only been adjusted in the case of extreme increases in the market price of silver. As far as I know, the prices for silver commemorative coins or medals have not been adjusted in response to changes in the market price of silver. Of course, if the intrinsic value ever approached the product price, I am sure prices would be adjusted at that point.
The last price change to occur for a silver numismatic product was a decrease of $5 for the 2012 Proof Silver Eagle in mid-July 2012. Prior to that, prices for the 2011 Uncirculated Silver Eagle and 2011 ATB Five Ounce Silver Coins were decreased by the equivalent of $5 per ounce of precious metal content in late December 2011. Also, sales for certain silver products were suspended in late February, but ultimately resumed without any change.