Silver Proof Set Sales Resume, Prices Unchanged


Following the 30% decline in the price of silver experienced over the past few days, the United States Mint has resumed sales of the previously suspended 2010 & 2011 Silver Proof Sets and ATB Quarter Silver Proof Sets. The prices are the same as those in place before the suspension.

The rapid rise and decline in the price of silver has made these products troublesome for the US Mint. The sets have been interrupted by sales suspensions and price increases, as the market value of 90% silver coins has fluctuated with the market price of silver.

The full annual Silver Proof Sets each contain 1.33823 troy ounces of silver plus $5.06 in face value of non-silver coins. The ATB Quarter Silver Proof Sets each contain 0.90420 troy ounces of silver.

The US Mint does not have an easy mechanism to adjust prices for these products. In order to raise or lower prices, the information must be published in the Federal Register to become effective. This process seems to take at least several weeks.

A separate policy exists to cover most numismatic gold and platinum coins. Prices are adjusted as frequently as weekly based on the average prices of the metals. This avoids lengthy suspensions and keeps the prices in line with the market value of the precious metals content. This policy was adopted in early 2009, after the turbulent markets in the previous year caused lengthy suspensions and numerous repricings, similar to what is now happening with the silver products.

Included below is a summary of the pricing and sales actions for the four currently available Silver Proof Sets, along with the price of silver as a reference point.

2010 Silver Proof Set

March 5, 2010: Price of $56.95 published in Federal Register. Silver is $17.25 per ounce.
August 24, 2010: Sales begin. Silver is $17.88 per ounce.
March 18, 2011: Price increased to $64.95. Silver is $35.15 per ounce.
April 8, 2011: Sales suspended. Silver is $40.22 per ounce.
May 5, 2011: Sales resume. Price remains at $64.95. Silver is around $35 per ounce.

2010 America the Beautiful Quarters Silver Proof Set
March 5, 2010: Price of $32.95 published in Federal Register. Silver is $17.25 per ounce.
May 27, 2010: Sales begin. Silver is $18.36 per ounce.
February 27, 2011: Sales suspended. Silver is $32.54 per ounce.
March 18, 2011: Sales resume. Price increased to $39.95. Silver is $35.15 per ounce.
April 8, 2011: Sales suspended. Silver is $40.22 per ounce.
May 5, 2011: Sales resume. Price remains at $39.95. Silver is around $35 per ounce.

2011 Silver Proof Set
January 4, 2011: Price of $67.95 published in Federal Register. Silver is $30.67 per ounce.
January 25, 2011: Sales begin. Silver is $26.70 per ounce.
April 19, 2011: Sales suspended. Silver is $43.22 per ounce.
May 5, 2011: Sales resume. Price remains at $67.95. Silver is around $35 per ounce.

2011 America the Beautiful Quarters Silver Proof Set
January 4, 2011: Price of $39.95 published in Federal Register. Silver is $30.67 per ounce.
March 18, 2011: Price of $41.95 published in Federal Register. Silver is $35.15 per ounce.
April 1, 2011: Sales begin. Silver is $37.63 per ounce.
April 19, 2011: Sales suspended. Silver is $43.22 per once.
May 5, 2011: Sales resume. Price remains at $41.95. Silver is around $35 per ounce.

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Comments

  1. Anonymous says

    Silver has its bottom and is on its way back up.

    Well the mint suspend sales again?

  2. Anonymous says

    Only 384,xxx of the 2011 Silver Proof Sets were sold before the suspension.

    The good news about spot silver dropping is that we have a second window of opportunity to get these Sets.

    Get 'em now while you can!

  3. Anonymous says

    The mint's website states: "Product will be available for shipping 05/21/2011" for the 2010 Buffalo. Why this message when the 2010's have been available?

  4. Andrew says

    I love the article on USA Today that is screaming the silver market is plummeting and does nothing but try to scare people into selling all their silver while they can. So amusing.

  5. Anonymous says

    It sure would be nice if the mint would stop saying has a similar fininsh on some of their bullion products, Im sure they no what the finish is, so just tell us. Its like buying a car.and they wont tell you what color it is.We are paying allot of money for these product . So they should tell us everything about what we are buying.

  6. Anonymous says

    Just received my 2010 P Hot Springs , I gotta say its a good looking coin , finish looks like silver eagle finish , nice and satiny.

  7. Anonymous says

    How are people getting their coins?! I thought they're not shipping until like May 13 or something.

  8. Anonymous says

    How are people getting their coins?! I thought they're not shipping until like May 13 or something.

  9. Anonymous says

    Anyone get their ATBs from Jack Hunt Coin Broker yet? I'm starting to get worried. They sent me a Fedex tracking number, but it shows not even registered yet….

  10. Anonymous says

    Got my Jack Hunt. They were raw, very similar to MTB and Fidelitrade. My set from CNT were awesome; all DMPL's with barely any marks.

  11. Anonymous says

    When did you get them? They sent tracking number like 2 weeks ago….

    I agree, just got CNTs and they were great.

  12. Anonymous says

    Never mind – I checked shipping confirmation number again and it was finally accepted by Fedex. Shipped on Monday. Estimated arrival next Monday. My last set. Kinda sad.

  13. Anonymous says

    To the person asking about the 2010 Proof Buffalo:

    I noticed that message this morning, too. It appears the coin is almost sold out, finally. I figured it would just be pulled off-sale when the 2011 goes on sale, but it looks like it might not make it after all. Not that it really matters. I can't see the 2010 ever being worth much more than melt.

  14. Anonymous says

    the most popular items right now from the u.s. mint. i think it will be the $1.00 coin direct ship. you have to wait at least few weeks in order to receive your orders. it is free of shipping. selling at face value. it is uncirculated and came with a nice wrapping roll. @25.00 a roll. if you buy it from a dealer. it might cost you $30.00 to $40.00. what more you can ask?. try it.

  15. Jim Seymour says

    I got my Jack Hunt set and they were all PCGS slabbed. I'm still waiting on my APMEX order…

  16. Anonymous says

    I can't wait for silver to go back up to $50 / ounce. From what I am reading on this blog, so many are thinking that silver will be a good investment.

    I wish I could afford the gold and platinum coins. Maybe next year…

  17. Anonymous says

    Order Status: Order Double Checked

    What does this mean on APMEX orders?

  18. Anonymous says

    It means they are double-checking your order to make sure you do not receive any MS69DMPL coins.

  19. Dreama says

    to 12:14 pm,yesterday my order said double-checking, I think that means they are checking to make sure there isn't another set going to your address, because today they sent me an email stating it was shipped and they gave me a tracking# hope this helps

  20. Anonymous says

    About that direct ship program. I won't order them, and act as the Mint's agent trying to pawn unwanted coins on the public. Not for free anyway. It is not my intent to advertise and handle their wares for free.

    The last 4 auto's we bought all had little ID plates from the dealer screwed into the trunk and black plastic advertisement frames on the license plates. I instructed the salesman to remove the free ads, or "pay me" something for my troubles. After a few minutes the dealer included free floor mats and a few other things to change my mind.

    If the Mint wants us to act as their agents and advertise – broadcast unwanted coins we might get stuck with…..they better sell them to us at a tiny discount for our trouble. If not, they can manufacture all they want and store them in warehouses. They simply don't do us any favors.

  21. Anonymous says

    Just got an e-mail from U.S. Mint saying my order was cancelled.

    …"Greetings from the United States Mint.
    The following order has been cancelled either at your
    request or because we were unable to process it. We invite
    you to resubmit the order via our website at
    http://www.usmint.gov and click on Product Catalog"

    Whats up with that? Anybody else recieve this message?

  22. Anonymous says

    My order for the Hot Springs 5 oz. was cancelled by the Mint……"Greetings from the United States Mint.
    The following order has been cancelled either at your
    request or because we were unable to process it. We invite
    you to resubmit the order via our website at
    http://www.usmint.gov and click on Product Catalog."

    Any body else?

  23. Anonymous says

    Yes, I got the same note.
    I used my wife's Mint account = same address = no go!

  24. HI YO SILVER says

    reprise

    I got my ATB this morning and was a real beauty looks like a MS 70
    I can't find one ding on it and the finish better then the bullion ATB's

    The mint sent it UPS overnight
    because I also bought a 2010 unc set to put my order over 300.00 which = overnight

  25. Anonymous says

    Coin News.net:

    Silver futures prices fell for a fifth straight session on Friday, capping a weekly loss of 27.4 percent and closing out its worst week in decades.

    On Friday, silver prices for July delivery declined 95.3 cents, or 2.6 percent, to close at $35.287 an ounce. They ranged from $33.035 to $36.430. Higher margin requirements by CME Group were attributed in pressuring the metal.

  26. Anonymous says

    COIN UPDATE:

    The US Mint plans to release the next numismatic release featuring Yellowstone National Park on May 17. Fewer than 1,000 of the Hot Springs design remain available.

  27. Anonymous says

    Thanks Dreama !!!!!!!!!! Got the same email this evening, mine are on their way now. To the others, that was so funny I forgot to laugh. Nice to make fun anonymously huh? Tim

  28. Anonymous says

    Metal is a good buy no matter what you get. For investment, bullion may be the best although the 5 oz. coins ought to do well. Although there are usually a few comments saying "Bubble" I just don't see it. I thought "bubble" means lots and lots of everyday people are talking about the item, massive investments by institutional funds as well as large individual purchases and investments by many ordinary people who normally have nothing to do with the item, and television and radio shows advocating and telling us how to buy metal not just advertisers. Has anyone seen a mainstream financial show advocating metal. They all say dump it which I view as a reverse barometer.

  29. Anonymous says

    Well said. The public at large is not on board yet. When they are, you will know.

  30. Anonymous says

    These financial news shows have been saying get rid of gold since gold was 250 an oz. ten years ago. Its now around 1500 bucks, a 600% increase. Metals will keep rising until the government quits creating money. Maybe a better way of saying it is metal value stays the same while paper money is declining in value.

  31. Anonymous says

    Michael, I've got a "dumb" question. Why doesn't the Mint just peg the retail price of its PM products to an average cost of the metal over the time period that the coin(s) were made? This way they could price their products in accordance with their actual costs and avoid this idiotic suspension/re-pricing process. By floating their product prices the way they do, it almost seems like the Mint is more concerned about making as much money as possible of its customers than it is about providing numismatic products to collectors. I like the fact that the Mint operates in the black, but but it seems like it's price gouging to do so. Can you square me away on this issue?
    -Nick

  32. Waiting says

    A seasoned investor NEVER sells his bull market position during a correction. He knows that he can never make as much money trading as he can make WAITING.

    For me, as silver drops below 36, I'm buying all the bullion i can buy and waiting!

    As for the ATB 5oz coins? You bet I will buy them from the mint. Those that sell them with yearly sets will will at least double their money. The key is WAITING!!

  33. Anonymous says

    Waiting…

    Yes, PMs will go up in price. In fact, the last time silver was around $50 per ounce was about 30 years ago. Personally, I would not want to wait that long for a temporary increase in price to that level.

    Sign me as, "Prefer not to wait"

    ———-

    Waiting said…
    A seasoned investor NEVER sells his bull market position during a correction. He knows that he can never make as much money trading as he can make WAITING.

    For me, as silver drops below 36, I'm buying all the bullion i can buy and waiting!

    As for the ATB 5oz coins? You bet I will buy them from the mint. Those that sell them with yearly sets will will at least double their money. The key is WAITING!!

  34. Anonymous says

    As long as the Mint can earn a profit on its sales, then you betcha, there will be 2011 5 ounce ATB coins…

  35. Anonymous says

    it's better for the mint to discontinue its 5 oz ATB collector's version after 2010 five designs done. and concentrate its bullion program till the end. try to sell as much bullion ATB 5 oz as collectors can get them.

    well. only few left before the mint declare hot spring 2010p sell out.

  36. Anonymous says

    finally the 2001-d one dollar sacagawea roll is sold out from the mint. cdn quoted one piece of 2001-d bid at $1.25 and ask at $1.35.

    2011 bullion ATB 5 oz. silver coin first two designs are now selling at $224.20 each. lower than 2010p selling from the mint at $279.95 each.

  37. Anonymous says

    It's selling less because one is bullion and the other is numismatic. That's why.

  38. Anonymous says

    finally the 2001-d one dollar sacagawea roll is sold out from the mint. cdn quoted one piece of 2001-d bid at $1.25 and ask at $1.35.

    2011 bullion ATB 5 oz. silver coin first two designs are now selling at $224.20 each. lower than 2010p selling from the mint at $279.95 each.

    May 7, 2011 3:31 PM

    ————————–

    No dealer is going to pay over a dollar for the 2001 dollar.
    As they say try and get it.

    the sac's are a wate

  39. Anonymous says

    Silver is rebounding today. Buy these before sales are suspended again.

  40. Anonymous says

    @ Anonymous said…
    Silver is rebounding today. Buy these before sales are suspended again.

    May 9, 2011 4:30 AM

    ————————

    Do you work at the mint ?

    LOL

  41. Anonymous says

    If I worked at the Mint, I would not care whether you bought them or not. LOL

  42. Anonymous says

    Man, it looks like we probably won't get a price decrease on gold coins this week. I probably should have just bought my Eliza Johnsons on day one. Hope springs eternal, though.

  43. Anonymous says

    Can you believe the silver 5 ounce ATB Hot Spring coin is still available at the US Mint? Still no sign of a waiting list…. LOL

  44. Anonymous says

    At this point, there most likely won't BE a waiting list. It's been long enough now that the Mint pretty much knows if the orders that have been placed are valid or not. Most of them have probably shipped by now.

    No, they will most likely be sold out by the time the Yellowstone coin goes on sale.

  45. Terry says

    Odd – the 2010 & 2011 silver proof sets I ordered on friday shipped today. My Hot Springs 5oz still shows "in process"

  46. Anonymous says

    (ATB) My Hot Spring arrived yesterday and looks good except for the Washington "lip nick." Several of the bullion coins also have this. I think I would have gone the other way with the bullion having the more forgiving satin look and the collector version with the mirror proof finish.

  47. Anonymous says

    You that backwards…the bullion version has the mirror, prook-like finish.

  48. Anonymous says

    Wow, so the bullion have a nice shiney finish then? I hate the matte finish of the collector's versions!They look FAKE.

  49. Pete says

    My 2010 P ATB HS also has the Washington "lip nick." I have seen my friends coin with the "lip nick" also, but today I have seen a coin without it. How many "lip nick" coins are there, how many without?
    …hummmm

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