Based on information published in the Federal Register, the cost of the 2011 Proof Silver Eagle will be $59.95. According to information provided to subscription customers, there will be an ordering limit of 100 coins per household in place at the start of the offering. Based on the Mint’s online product schedule, the coins will be released on June 30, 2011.
The pricing reflects an increase of $14 from the 2010-dated proof coin, which was $45.95. This increase was to be expected, since the market price of silver has risen.
Pricing for the 2010 Proof Eagle was provided on October 4, 2010, when silver was $22.03 per ounce. At the time the coins went on sale November 19, silver had risen to $27.07 per ounce. The premium above metal value at these two respective points in time was $23.92 (108.6%) and $18.88 (69.7%).
The premium for the 2011 Proof Silver Eagle based on today’s London Fix silver price of $37.38 is $22.57 (60.4%).
The household ordering limit for this year’s offering is the same that was initially in place for last year’s offering. The limit for the 2010 proof Silver Eagle was eventually removed after two weeks of sales.
The initial start of sales for the 2011 Proof Silver Eagle is significantly ahead of last year’s offering, which was released on November 19 and sold out by December 28 at 860,000 units.
I will have some additional commentary closer to the release date.