Prices Reduced Again for Numismatic Silver Coins

Effective earlier today, the United States Mint has reduced the prices for the four available America the Beautiful Five Ounce Silver Uncirculated Coins and the 2011-W Uncirculated Silver Eagle. This follows a previous reduction, which took place on October 7.

The price for the ATB Five Ounce Silver Coins was reduced from $229.95 to $204.95. The price for the 2011-W Unc Silver Eagle was reduced from $50.95 to $45.95. Both price adjustments are equivalent to a reduction of $5 per ounce of silver content.

There are currently four different ATB Five Ounce Silver Coins available. The Mount Hood design has a maximum mintage of 27,000 and was originally priced at $279.95. The Gettysburg design with a maximum mintage of 35,000 was priced at $279.95, before the first price reduction took place shortly after release. Both the Glacier and Olympic National Park designs carry a maximum of 35,000 and were initially priced at $229.95.

The 2011-W Uncirculated Silver Eagle, which carries no stated maximum mintage, was originally priced at $60.45.

The US Mint has not adjusted the prices for any of the annual sets with silver content. The 2010 and 2011 Silver Proof Sets contain 1.33823 troy ounces of silver and are priced at $64.95 and $67.95, respectively. The 2010 and 2011 America the Beautiful Quarters Silver Proof Sets contain 0.90420 troy ounces of silver and are priced at $39.95 and $41.95, respectively. The prices for the 2010-dated sets had been increased in March 2011. Sales of both the 2010 and 2011-dated sets had been suspended on numerous during the year, but sales always resumed at the original prices.

A preliminary product page for the 2012 ATB Quarters Silver Proof Set has been posted on the US Mint’s website. The price included is the same $41.95 price currently in place for the 2011 set.

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Comments

  1. ClevelandRocks says

    I’m done. Mint lacks leadership and vision. Random pricing for silver product that work against true collectors is final straw.

  2. Louis says

    It makes no sense to complain when prices are reduced. You should be happy. It’s not random, either, it’s because silver is down so much recently. I applaud the Mint’s decision.
    If you are worried about the value of your holdings, don’t sell now, wait for higher prices later.

  3. MarkInFlorida says

    Prices will be up again eventually. Now’s the time to buy. Too many people, even with stocks, buy high and sell when the prices drop. Long term holding is the key. I bought gold at $425, watched it drop to $275, but held on. You know what happened next…

  4. Samuel says

    At least, the mint should make the silver coin price predictable. I hate to see the price reduction 2 hours after I received the coin. And the last straw to me is the bad quality.

  5. William says

    Wow, lots of guys here are so clairvoyant and know for a fact that silver is only going up. If at all possible, could you also tell us tonight’s winning lottery numbers??

  6. Frank says

    I welcome the Mint’s move to make the 5 Oz’er more affordable. I hope they are also reducing the production number of the 2012 version as well. Low issue price + low mintage = winner for long term.

  7. Wylson says

    Come on one, come all to uncle sam’s silver sale. The 5oz’ers are dead in the water. It doesn’t pay to make coins with low production numbers without a profit margin.

  8. KC says

    I will buy more 5oz ATB from the Mint with price reduction. The coin dealer charges $5/oz for the ATB bullion and $2/oz for the ASE bullion. I will buy ATB P from the Mint and ASE bullion from the dealer. And why siver and gold prices are going up. Our President has just announced to add $1.2T to the debt ceiling. With so much debt, the dollar is going to loose value. Wait until EU implement their austerity, Dollar index is going to reverse.

  9. Frank says

    Tthe margin for the P version should remain constant since the re-pricing is due to sliver price reduction. Also, the Mint has to produce the bullion version of 5 Oz’ers by law. So the majority of the cost (equipment, design, die preparation) is unavoidable whether or not P version is made.

    I feel the Mint roughly use the demand (sale number in a year) to determine the P version mintage. And according to the sales today, the proper number should be around 15000 – 25000.

  10. MarkInFlorida says

    One doesn’t need to be clairvoyant to know that when the government prints trillions of dollars and borrows nearly half of every dollar it spends, that the dollar will soon be worth a lot less and hard assets will be worth a lot more. It’s simple economics.

  11. Zaz says

    Interesting that the individual silver collector coins were repriced, but not the full silver proof and silver quarter sets? Still about a $40+ premium on the ATB 5oz’ers over the equivalent bullion release. I also find it interesting that price decreases slow the pace of sales instead of increasing them, by ticking off the earlier customers that bought them at the higher prices, so that they never buy another coin from the Mint, and also from the procrastinators, that wait and wait, hoping that the pricing will fall even further. The individual silver coins should go on a pricing grid just as the gold and platinum collector coins do.

  12. TPM says

    I visited the US Mint HQ bldg, and the shop at Union Station in Washington, DC today. The ‘old’ silver prices were still in effect on 12/27.

    The buy of the day is the Proof Platinum Eagle at $1692. The Gold Buffalo is 1860, and the bullion gold Eagle is around $1828 or so (I could be off by a few dollars there).

    Now, think about it, how often has platinum been priced below the price of gold in your lifetime.

    Staff there agree that the real deal is the platinum Eagle. It’s considerably more rare than gold to begin with, is a proof coin, and has limited production. I bought one, but I would like to have purchased 10 if I could have.

    Buy and enjoy. Incredible potential.

  13. Hidalgo says

    Hi Michael,

    At one time you were recommending the Chocataw 5 ounce silver coins as a good buy. I believe you may have said that the 2011 coins cannot be sold in 2012? Do you consider the US Mint’s P version and the bullion versions to still be good buys with long term potential?

  14. Anon says

    Is it true that 2011 coins cant be sold in 2012? I called the mint to ask about the uncirculated gold eagle and the associate did not seem to think that i could not buy the 2011 in 2012???

  15. Brad says

    I think the 2011 W AGE can be sold into 2012. No more will be minted after this week, but they can be sold next year until the existing inventory is depleted.

  16. says

    Hope you folks had a happy holiday.

    Agree with TPM on the platinum eagle, platinum being priced under gold, when the supply of it is so small and constrained, is just bizarre to me. Had I the extra money laying around I’d certainly snap up some more 2011 proofs.

    This silver price reduction really caught me by surprise. However, given the strongly negative trends in silver pricing, I’m thinking of continuing to hold off on buying the Olympic. Given the recent sales reports I don’t think I will have to worry about a sellout anytime soon.

  17. Leo S. says

    Michael

    With gold down $32 today and silver hitting $27 and change, will the Mint make a price reduction today or wait till next week, assuming the trend continues?

  18. Michael says

    Leo S-

    The US Mint’s numismatic gold coins are currently priced based on an average gold price within the 1550 – 1599.99 range, which is where the price is currently.

    The Mint has never reduced prices for gold coins out of the weekly cycle, so if anything it will happen next week.

  19. Hidalgo says

    The US economy is showing signs of improving. That’s good for the average American, but sorry news for the PM speculator. Everyone should know by now that when the US economy is strong, PM values tend to be tank. I expect PM values to decline in the future as the US economy strengthens….

  20. Richard says

    The 5 0unce ATB US mint direct to you suckers $204.95 or $40.and change per ounce.Mint Product .com current past issues of ATB $164.68 or $32.and change.The current spot $27.and change.Collectible or investment the secondary market looks a whole lot better to me.I wouldn’t be betting my 401 K on these PM markets.As a collectible yes but on the secondary market.

  21. Hidalgo says

    Anyone who speculates in PMs has got to realize that the market is quite volatile. Speculators love it and brag about profits they make when prices go up. But when prices go down, they bitterly complain. Check out Michael’s blogs from earlier this year. You’ll see speculators and flippers bragging about the profits they made and how prices would climb eternally. Surprise! The US economy is now improving and PM values are falling.

    Individuals need to make decisions about what they want and the prices they are willing to pay. If you collect coins because you enjoy them, then the US Mint is the way to go. No matter the price, a true collector will enjoy what he or she owns, because value is secondary. But for speculators, flippers, and investors, the bullion market is the way to go. That way, one will not have to be so concerned about profit losses. And also, bullion coins lack the sentimental value of US Mint collector coins — they typically are more readily sold on the secondary market…

  22. Hidalgo says

    William, you must be a hermit. Check out the web and TV for news stories on the state of the national economy.

  23. mookem says

    Why is it that the mint did not have to suspend sales in order to reduce silver prices this time around?

  24. William says

    @Hidalgo.
    Luckily, I do receive cable in my cave! So i was able to see today’s rise in unemployment claims, which i guess shows just how strong the economy is? Granted the unemployment rate has gone down from 9%, but we all know that that is a BS number. And the only jobs being created are barely above minimum wage positions at Best Buy and Walmart. Those pitiful wages just arent enough to get the ecomony going.

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