Lower Prices for Silver Proof Sets

According to a notice published today in the Federal Register, the United States Mint will lower the prices for several numismatic annual sets containing silver coins. The products include the 2013 Silver Proof Set, 2012 & 2013 America the Beautiful Quarters Silver Proof Sets, and the 2013 Congratulations Set.

2013 Silver Proof Set

The 2013 Silver Proof Set contains a total of 14 coins, with five quarters, a half dollar, and dime struck in a composition of 90% silver. Each set contains net silver content of 1.33823 troy ounces, with an additional face value of $5.06 worth of base metal composition coins. Sales for the set began on May 2, actually the same day that the US Mint lowered prices for a slate of other silver numismatic products.

The original price for the set was $67.95. The notice indicates that the price will be lowered by $7.00 to $60.95 per set. As of the latest sales report, customers have ordered 214,477 sets at the higher pricing.

The 2012 & 2013 America the Beautiful Quarters Silver Proof Sets went on sale January 10, 2012 and January 8, 2013, respectively. These sets each contain five quarters struck in a composition of 90% silver, yielding silver content of 0.9042 troy ounces.

Each set was originally priced at $41.95. Prices will be lowered by $5.00 to $36.95.

The 2013 Congratulations Set went on sale on April 30, 2013. The product contains one 2013-W Proof American Silver Eagle within special packaging designed for gift-giving occasions. Sales for this product began shortly after the US Mint suspended sales of the individual proof Silver Eagle for repricing.

The set was originally priced at $64.95. It will be reduced by $5 to $59.95.

While individual silver numismatic coins have seen their prices adjusted on several occasions over the past few years, this represents the first price changes for the annual silver proof sets since March 2011. Back then, prices were raised after the price of silver had risen to around $35 per ounce. Subsequently released sets carried the same prices established at this time, even as the market price of silver ranged more than $10 per ounce higher and lower. On a few occasions, sales for the products were suspended when silver rose very quickly, but on each occasion sales were resumed without a price change after the market price of silver receded.

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Comments

  1. thePhelps says

    What actually is annoying is they could very well have done this with all the other sets they lowered. The change in the price of silver since the release of these sets isn’t that much and yet they waited almost a month to change the prices? Naturally all of us who ordered the Silver Proof set on subscription took it in the shorts.

  2. george glazener says

    CO;
    Me too, I even got my set in the mail just yesterday. But they’re headed right back to where they came from at noon today.

    Here’s another dirty little secret. You can get heads+tails President Dollar Rolls from “Quartersareus”, an eBay store, for $34.95 each, w/ free S&H. NA Dollar rolls too. Heads+Tails guaranteed. Cheaper than the MINT and the very same packaging..!!

  3. thePhelps says

    I should have said ordered or have a subscription… but you get the point.

  4. Kraw says

    Yet another reason to NEVER sign up for a subscription with the mint. That’s a scam.

  5. stephen m says

    George, does the mint pay for return shipping? 7 dollars saved but if you have to pay the shipping i don’t know if returns are worth the time in $. Good luck with that. C.O., can’t you cancel the silver proof set or would your whole order have to be cancelled?

  6. Samuel says

    sometimes, it is good to wait. i almost order the sets with white mountain and WP sets last night.

  7. george glazener says

    Yes, they will reimburse shipping on returns. I have to call to figure out the exact procedure, but I have heard (on this blog) that they will.

  8. says

    Stephen,

    It’s too late for me to cancel, as I just received my silver proof set in the mail Monday. I should have specified I ordered it the same day West Point came out. I guess they waited until now to try to get the people who were planning to group White Mountain, the West Point set, and the Silver Proof set together.

    On top of the increased shipping costs from being unable to group orders together, this is another good reason not to subscribe, as others have mentioned.

    George,

    I appreciate the tip!

  9. VABEACHBUM says

    I had ended my set subsciptions two years ago because of pricing / repricing concerns and my desire to start bundling shipments like others on this board. That $4.95 a whack adds up real fast!!

    As for this year’s issues, I had been holding out for the release of the UNC P&D Set next month, when I plan to pick up the PR Set, Silver PR Set, UNC Set and the Perry ATB-P on one order.

  10. Dan in Fla says

    I just went through a return and they did not return my shipping or pay for the 30.00 dollars I paid to ship and insure it. I’m not sure its worth returning one set.

  11. george glazener says

    Dan;
    That’s troubling to hear. What procedure did you use to apply for the reimbursement?

  12. charles says

    London pm gold price is over $1400, so there will not be a price decrease in gold products today.

  13. Dan in Fla says

    George I just read it again the returns area of the U S Mint and they do not refund shipping. If you know of a way to get reimbursed then I would be interested in how.

  14. says

    I returned 3 SF sets last year and DID get a refund for my return shipping costs. I sent a letter to PBGS (2799 Reeves Rd,, Plainfield, In 46168) and attached a receipt for my shipping cost. Be sure to include your Mint order number in your note/letter to them.

  15. DCDave says

    MINT SUCKS!!!
    SCREWING OVER LOYAL CUSTOMERS AGAIN!

    Subscriptions are for idiots like me….

  16. says

    @Dan…what the Mint means is ypu will not get a fefund for the original $4.95 you paid to have the items shipped to you.

  17. DCDave says

    THANKS MINT FOR IMMEDIATELY DEVALUING MY CHACO 5 OZ AND MY RECEMT SILVER SET!!!
    CALL/ WRITE TO COMPLAIN!!!
    Fine with new silver products at lower pricing, but not this BS changing in mid-stream since there is not “pricing grid” for us to see.

  18. Fosnock says

    CO,

    Me three I just ordered it the other day…but at least I got the ASE proof at the lower price. Someone smarter than me posted here that he was going to wait on the lower price for the proof set I should have listened, and to all you loyal customers I discovered years ago that the subscription service was designed for the big boys who send multiple coins to grading services, I was never sure why a collector would subscribe.

  19. Samuel says

    you guys know the prices will change frequently during the current situation, why subscribe?

  20. Rod says

    Doesn’t the price spike in the London PM gold price fix to $1408.50 today from less than $1380 in Hong Kong early this morning and now less than $1380 again right now in New York strike anyone here as price fixing? Is the US Mint trying to rig their pricing grid or what?

  21. Rick of Ohio says

    Dan in Fla and George: The mint refunds shipping on coins if there is a reason such as scratches. Call the mint and discuss problem. Your need to repackage with their completed form in 7 days from the time you receive the coins.and insure. Send separate letter with return postage cost documented with receipt to mint referencing order and item return. You will receive treasury check in about a week of the return mailing costs. You will be credited on your credit card for the amount of the coin you are returning at the cost you paid for it. Then you will be billed on your credit card for the new item being shipped out (if you are replacing item). A new order number will be made up on your account history for the replacement coin order. Its a hassle but you will receive return mailing cost.

  22. SmallPotatos says

    CO, Dan, Rick,
    I will be doing the same. As soon as i pick up the package from UPS tomorrow, i will be sending back the sets for refund. Then i will order again when the next product i want comes out. The risk will be if the price goes back up between now and then.

  23. Dan in Fla says

    Thanks everyone. Yes my coin was scratched and no they did not tell me about any refund on shipping charges. Oh well at least I will know next time.

  24. john r says

    Larry, thanks for the photos, especially of the reverse proof Buffalo. I took it you know where too on the silver proof set, but that made up my mind to cancel my order of the ASE set, since I was never too fond of the design anyway. So I’ll end up saving some money. I’ll wait for the Buffalo.

  25. Dan in Fla says

    When you look at the price of gold on a graph it shows a blip at 1139am EST. Just long enough to keep the prices up where they are for the Buffalo tomorrow. How in the heck do they do it. Who said price fixing.

  26. Ray says

    ok, why didnt the prices drop for gold products on the US Mint site. the avg was clearly below 1399 for thelast week. i’m completely comfused. why would one single blip, minutes before the repricing keep the prices from dropping? that makes no sense to me. am i missing something?

  27. Dan in Fla says

    You will have to read the formula that the U S Mint uses to determine price. The price of gold went up to 1408? at 1030 est and that is when they get the numbers for pricing. It ticks me off also but the Mint does what they want to do.

  28. Erik H says

    “Price Fixing” is Fixed!

    This sucks, I was watching the charts all morning. Can’t believe it.

  29. vaughnster says

    I think many of our predictions of increased bullion sales on this year’s 5 oz. ATB’s will be spot-on. I just checked Provident and they are “Out of Stock” already of the White Mountain bullion release. I ordered mine last week and they will ship out Friday. Not sure if they’ll get more or not, but with silver prices so low, I would not risk waiting on pulling the trigger on a purchase because they are going fast. This might be 2010 all over again :-)

  30. Fosnock says

    @vaughnster – I just checked Provident, they still have White Mountain for sale

  31. vaughnster says

    I see that. When I posted my comment they were out of stock. I still would not wait until all five are released to buy them together. Too many unknowns with the Mint.

  32. Samuel says

    i personally dont like the RF buffalo after see the pic.
    i would like the field to be shiny, but the buffalo/head to be frosty.
    we probably will see a lot of scratches on the proof-finished buffalo/head.

  33. Don says

    I got my one silver proof set a couple weeks ago. I’ll bite the bullet on the one set, but I’m sure glad that I didn’t get multiples. I would have really been perturbed.

  34. Frankie says

    @ Samuel:
    If you want all frosty, buy the bullion Buffalo.
    If you want the background shiny and the Indian head and buffalo frosty, buy the regular proof Buffalo.
    If you want the background frosty and the Indian head and buffalo shiny, buy the reverse proof Buffalo.
    Those are three options, unless the Mint comes up with an enhanced finish or a high relief. Time will tell… ;)

  35. high low silver says

    Return postage is on a case by case review. Jan I accidently ordered a roll of 2010 pennys and couldn’t cancel 5 minutes after I ordered, I called and they noted my account.When I was denied they basicly said tuff luck a manager has reveued your case and I was denied !! SOB managers !!

  36. high low silver says

    I still am right and they are wrong gg. When I called the second time the operator saw the date and time stamped on my account.

  37. high low silver says

    Thanks for the link gg!! One of those H Hoover designs reminds me of James Cagney LOL !

  38. george glazener says

    Hey, that’s a great idea for the followup to the ATB series. Hollywood Movie Stars from the 1920’s, 1930’s, 1940′ etc…5 quarters per year or something like that. Why not???

  39. george glazener says

    “Um, Sir, regarding your coin refund, I have no possession of the facts in your case, I’m sure that was handled by someone else. I must plead the 5th.”

  40. Dan in Fla says

    I already bought ten sets and that is $70.00. Will they refund that? Five of those sets were ordered through a now canceled subscription. And who is gonna wait until next week for the Buffalo? I will buy one tomorrow and wait to see if the price comes down so I can buy another.

  41. Don says

    Hi Ho Silver,
    I am still awaiting your WP Silver Eagle mintage update. You provide a valuable public service by us not having to bother clicking on the Mint website and finding out ourselves.

  42. george glazener says

    CO;
    I know what you mean, the FDR’s were lame. In fact, lots of those submissions totally missed the mark, as far as capturing the man’s true likeness. Most of the choices were no-brainers. Oh well, I love the series anyway, I’m happy they chose to do it, even if no one uses them….LOL

  43. Troy says

    I was going to order when they became available and got busy and forgot. Unusual case of the late bird getting the worm.

  44. thePhelps says

    206,226

    I liked the presidents as well – and yeah Hoover looks like Cagney and the FDR were pretty lame.

  45. Gary says

    Woo hoo….i called that right! About time i roll the dice and it works out! I was holding off until the W Burnished came out!

  46. j says

    subscriptions should get free shipping i have posted that on every survey all should e-mail them and ask that its the very least they can do

  47. says

    My White Mtn “P” coin shows it will arrive Friday. I don’t understand why it’s shipping 2-day UPS…but I’m not complaining.

  48. Erik H says

    I’ve been comparing the daily numbers to the San Francisco Set’s numbers and except for the extra 53K ordered on day one the daily numbers are very similar. If this trend continues then final numbers will be south of 300K but more than the 2006 anniversary set.

  49. guama says

    Last year they sold out…so I decided to bundle together wp sets with the silver proof set. It was a mistake on my part

  50. stephen m says

    I’ve gotten bit a couple of times with the proof ase subscription that later had a price change. I didn’t try for a refund. Some you win some you don’t. With the continuing dropping price of the metals trend it may get worst before it gets better. Hindsight is 20/20.

  51. SuperDave says

    Still way too much $$ ……
    They have lost me as a collector and buyer since 2008 when they raised the price too far over being even worth collecting these sets anymore!

  52. Ray says

    I de got lucky with the silver proof set thing. I ordered a silver proof set w/ one of my WP sets, but I canceled it the next day. I’ll have to reorder a set w/ my next order. Is the mint locking in those previously sold silver proof sets? Cant you guys still cancel that line item? I was surprised I could without cancelling my entire order, but I was able to. I thought you could cancel at any time up until they shipped, no? pretty green behind the ears here still.

    My White Mountain AtB will be here saturday. I signed up for a subscription last minute, and it shipped yesterday via fedex smartpost. Delivery date with that service isnt particularly accurate. Ive had them show up on the estimated delivery date, and also several days after.

  53. Zaz says

    @vaughster: re 5oz. ATBs, they’re selling strongly from the pent-up demand and from the drop in Ag prices, but no, it probably won’t be the silver rush of 1Q’11 for the 2010 issues. If anything we might see numbers closer to the 2011-dated products than the 2012. The first three issues of ’13 bullion might run north of 45K, while the last two might end up around 30K if Ag stays the same or trends even lower during the course of the year. As for the collector coins the first three 2010’s are still the most common at 27K, NQ5 might end up around 17K if it stays at $180 per coin.

  54. Gary says

    I am only in for the 5 Ounce Mt.Rushmore this year. Really the only design I like.
    Anybody buying the S Mint Bags of Quarters? Possible long turn profit on these? Or Is it a waste of $10.00?

  55. Jerry Diekmann says

    Based on the information being shared here, I think it would be a good idea for me to cancel all future subscriptions with the Mint. I guess it is no wonder that both the Mint and the IRS are both departments within the U.S. Treasury and both organizations are dedicated to screwing the average person, whether he or she is a taxpayer or a coin collector. The dishonor that pervades both of these institutions is very troubling.

  56. Ann says

    @ Gary Passing on the newer s quarters due to the release of P & D & S all
    together. Thinking of the much higher mintage now, would lower value on S.

  57. Brian says

    Ann,

    I wouldn’t worry about the mintage of the S quarters too much. A couple points:

    1. Of the 2012 S quarters El Yunque had the highest mintage (1.7M vs. 1.4M for the rest). But it still sells for the highest premium because it was the first to sell out.

    2. Surprisingly over 60% of customers are choosing the P, D option over the P, D, S option.

    I think the mintage won’t matter. Just like last year the first of the five options to sell out will be the winner.

  58. Don says

    Since silver prices had already dropped, the Mint should have reduced the price on the Silver proof set at the onset of its offering. Come on Mint, do the right thing: send $7. refunds for each set purchased to the early buying and subscription customers. Yeah, that would really happen.

  59. thePhelps says

    I agree with Brian – that and the fact that the San Fran mint can only produce so many of these coins in a year. (based on previous articles about their equipment and manufacturing processes).

    Fact is the numbers might increase – the quarters themselves are to me much better quality than the other mints – from the ones I have seen.

  60. thePhelps says

    @Don – I don’t expect a refund – but I am kind of mystified why they held the price for less than a month and then reduced it after selling 200,000+ sets. The reality is the price of silver changed very little between the drop in price for the other offerings and yesterday. It looks like an obvious gouge on early buyers and subscribers. I too have ended my subscriptions.

  61. says

    Ouch that hurt! I ordered TWO of the silver proof sets and so I am out the $14.00. My sets are out for delivery today along with the 5 oz. White Mt. coin! When one orders from the shopping channels and the price changes within 30 days they will correct your account to reflect the lower price if you call them. Wonder if the Mint would do this? I called the Mint once when the price went up on the day I was to receive a coin and they said, “You get to keep the price as it was on the day you ordered!” So I guess it goes the same way when the price goes up. In todays world we all try to SAVE a dollar if we can! LIFE isn’t always fair!

  62. says

    I should have said that you get the benefit if the prices goes up and you ordered at a lower price. You get to pay more if you ordered and the price went down. Sorry about that!

  63. picturefun says

    @george glazener

    I did quite a few times of returns, but all due to the bad quality/defect. They will only pay for the return shipping in this case. So you need to open the package, and find something wrong with the set. The quality of the Mint set is usually bad, so it is NOT difficult to find something wrong.

    The previous procedure was you pay out of pocket first, and then you need to send the receipt to the Mint by snail mail. then you get a check from the Treasury Dept. It could take 4 weeks or longer for you to get the money back.

    Now, you can call them, asking them to send you a Pre-paid shipping label to you, and you use the label to return. This is new, many of their customer representatives do not know, you may need to talk to a supervisor about this.

    The label only works for first class package, I was told by USPS. You can either use the registered mail at the Mint cost or not. But if you just want Tracking/delivery confirmation or want to insure the package, then you will need to pay for it out of own pocket.

  64. picturefun says

    @Dan in Fla
    I think you can call Mint, and ask them the address to send in the receipt, maybe it is not too late.

  65. Shutter says

    So you need to open the package, and find something wrong with the set. The quality of the Mint set is usually bad, so it is NOT difficult to find something wrong.

    Idon’t think I agree with “usually bad”. I wasn’t going to return the proof set. It’s only $7 difference, and I don’t feel strongly enough about this. However, I just opened the set, and the nickel was missing. Just an empty hole where it’s supposed to be. So, back it goes.

  66. picturefun says

    @Shutter ,
    I do not have a long history to buy from the Mint, only about 3 some years. Every mint silver set I got needed exchange, there was NO exception!

    The Mint has NO quality control whatsoever. Plus, dealers usually buy multiple sets, screen them, and keep the good ones, but return the not so good/bad ones. What the Mint does about those returned sets? They mailed out to people like us.
    Granted, some people do not mind to get a lousy set, I do. So I exchange them at the Mint cost.

  67. VA Bob says

    Send the MacArthur $5 UNC gold back a few weeks ago for defects (shinny specks). I sent a separate letter with a copy of the invoice (the one I sent in the box) and copy of the receipt and insurance from the post office. I received a full refund including tracking and insurance a total of $11.43. The check arrived about two – three weeks after I sent the package. Both letter and returned box were sent to the same address on the original invoice. KEEP a copy of your receipts.

    One thing I didn’t like was the Mint charged my CC the cost of the replacement, while it took about a week to charge back the original cost. They had the returned coin, I don’t see what the need to tie up double my money was for. They had the return long enough to determine it wasn’t a scam on my part.

  68. Bryon says

    Once I realized that individual ordering costs a bunch in shipping I cancelled my subscriptions. I now try to buy items together so I can get around the high priced shipping. BTW they got me with the price change too.

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