The United States Mint will soon reduce the prices for many silver numismatic products according to a document scheduled to be published in the Federal Register tomorrow.
Two weeks ago after the market price of silver dropped below the $20 per ounce level, I had raised the possibility of a price decrease for silver numismatic products. Shortly thereafter, the US Mint had confirmed that a price adjustment was being considered. At the time I had suggested that collectors might want to hold off on purchasing the products which would most likely be impacted.
According to the publication, price decreases will take place for virtually all silver numismatic products, including those containing American Silver Eagles, the America the Beautiful Five Ounce Silver Uncirculated Coins, and annual sets containing 90% silver coins. The only silver products which will not see a decrease are the 2013 silver commemorative coins.
The table below shows the current prices, the new prices, and the change. The changes basically reflect a reduction in price of $5 for each ounce of silver content and will become effective on July 11, 2013 at 12:00 Noon ET.
|Old Price||New Price||Change|
|2013 Silver Proof Set||60.95||53.95||-7.00|
|2012 & 2013 ATB Quarter Silver Proof Sets||36.95||31.95||-5.00|
|2013 Annual Unc Dollar Coin Set||49.95||44.95||-5.00|
|2012 Making American History Set||72.95||67.95||-5.00|
|2013 Congratulations Set||59.95||54.95||-5.00|
|2013 Proof Silver Eagle||57.95||52.95||-5.00|
|2013 Uncirculated Silver Eagle||48.95||43.95||-5.00|
|2013 ATB Uncirculated Coins||179.95||154.95||-25.00|
The new price of $52.95 for the individual Proof Silver Eagle will represent the lowest price for the popular offering since late since late 2010 when the coins were offered at $45.95 each. The highest price for the offering was $68.95, which was briefly in place in September 2011.
The America the Beautiful Five Ounce Silver Coins will be available for their lowest price in the history of the offering. When the first coins of the series were released in 2011, they were priced at $279.95 each. Other prices effective since that time have included $229.95, $204.95, and $179.95.
At $52.95, the full annual Silver Proof Set is reduced to its lowest price level since 2009. That year, the 18-coin set had been offered at $52.95. The highest price for the offering was $67.95, which actually remained effective until May 2013.
While the latest price adjustment was being considered, the US Mint delayed the release of the Great Basin Five Ounce Silver Uncirculated Coins. However, the Mint has continued to accept orders for the remaining products which will soon see their prices decreased.
When the US Mint lowered the prices for numismatic Silver Eagles and ATB Five Ounce Silver Coins in April, they had suspended sales while the price change was being implemented. A separate price decrease for annual sets containing silver coins which took place in May was not preceded by a sales suspension.