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.
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.