The United States Mint has scheduled notices for publication within the Federal Register which will reduce the price of the 2014 Proof American Silver Eagle and establish the price for next year’s 2015-dated coin. The pre-publication versions of the notices can be found here and here.
According to the notice, the price for the 2014 Proof Silver Eagle will be reduced from the current price of $52.95 to the new price of $48.95. An effective date for the price change has not been indicated. The 2015 Proof Silver Eagle will also carry the new lower price of $48.95.
The 2014 Proof Silver Eagle went on sale at the Mint on January 23, 2014 at the price of $52.95. On this date, the market price of silver was around $20.11. Despite a sustained decline in the market price of silver culminating in early November when the price dipped near $15 per ounce, the price for the product has not been adjusted until now. The current price of silver is around $16.08 per ounce.
Based on the figures from this week’s sales report, the 2014 Proof Silver Eagles have had cumulative sales of 732,105. The pace of sales has been strong during the gift giving season with prior week sales of 6,821 units.
At this point, there have been no notices issued to reduce the price of other silver numismatic products. Perhaps these may be forthcoming. The last time the US Mint made an interim price adjustment due to a change in the market price of silver, the prices for nearly all silver numismatic products were adjusted. This took place in July 2013.
In October, we had seen the US Mint establish prices for the upcoming 2015 US Marshals Commemorative Coins. The prices for the silver coins reflected reductions from the levels for the 2014-dated commemorative issues.
Update: The price of the 2014 Proof Silver Eagle will be reduced today, December 19, 2014 at 12:01 PM ET.