About a $11 increase from 2019 but look at the projected price of silver proof sets. I purchased back in May for $63.50 and now they want $105 for the set. That is a 65% increase over current price and a 100% increase over 2019 price of $54.95. May the GOV knows something we do not know about silver prices going into 2021?
I would almost recommend buying at the current price while they are still available but $63.50 is already almost twice the current melt value of the set.
Wow... Significant price increases....Must have exhausted their cheap silver stocks and had to buy new at market price. Or, they just want to increase their profit margins. Yep, that's the ticket. Cheers, RickO
One thought for the bronze medal price increase was that the Mint was in process of killing off the medal program. But with the wide range of price increases... appears something else is going on.
Once we see what this price increase does to cumulative orders for silver products from the Mint, we will probably be able to form some sort of idea about the price elasticity of silver and the implications for the silver market's supply & demand.
I don't think these decisions were made in a vacuum. Then again, it's gov.com and they don't really have to explain or account for what they do.
Q: Are You Printing Money? Bernanke: Not Literally
Maybe it's in order to spoof the price of new, pretty silver to $67 per troy oz. when bought one at a time. Reflecting Manufacturing and distribution costs and any profit.
Wheras raw and odd/ugly silver bullion in quantity still costs about $11 to make from rocks and dirt and other metals refining and is "worth" about today's spot price plus shipping and handling costs
I think anyone would be hard pressed to say that these outsized price increases reflect increases in manufacturing & distribution costs, or we would have seen similar outsized increases in just about every other manufactured & distributed product.
Unless, this is a harbinger of across-the-board price increases to come. Like I said, I don't think that these price increase decisions were made in a vacuum.
Q: Are You Printing Money? Bernanke: Not Literally
@ricko said:
Wow... Significant price increases....Must have exhausted their cheap silver stocks and had to buy new at market price. Or, they just want to increase their profit margins. Yep, that's the ticket. Cheers, RickO
I’ll take your first sentiment. Some of us over 50 are thinking gold and silver should still be selling in the teens and one thousands. The days are shortly ahead when the twenties and two thousands will be the new norm. Then there are those still around who think an ounce of gold should be selling for $300/oz.
@ricko said: @Goldenage.... Those of us who purchased gold at $300-400/oz. are sitting very comfortable looking at our stacks and today's prices... Cheers, RickO
Yes you are. If I guess your age, do I win anything 🤠
I do not usually buy silver proof sets anymore. I did buy them from 1992 through 2012. I quit buying them due to quality issues that necessitated some exchanges over some of those years.
However, with the looming price increases going into effect soon, I pulled the trigger and bought a 2020 silver proof set from the mint.
I bought two silver proof sets the other day for my kids as just something to hold and look back on this crazy messed up year we've all been living.
I never buy proof sets, these were the first I've ever bought. I also had no idea about the pending price jump. So it was without much thought that I put two in my cart for $63 + each.
The next day, while going to show the wife what the proof sets looked like, I was shocked to find the $105/each price tag. I hit refresh on the browser once or twice, as I figured it must have to be some kind of glitch on their end. Nope. A quick web search revealed the substantial price increase.
I believe that a good number of proof sets get sold as the holidays approach, people giving them as gifts to children and what have you, but this year I think the Mints new price point might dampen some of those holiday sales, particularly among buyers who already knew that the sets had been selling for substantially less.
Comments
Thats a big jump from the 2006 issue price.
About a $11 increase from 2019 but look at the projected price of silver proof sets. I purchased back in May for $63.50 and now they want $105 for the set. That is a 65% increase over current price and a 100% increase over 2019 price of $54.95. May the GOV knows something we do not know about silver prices going into 2021?
I would almost recommend buying at the current price while they are still available but $63.50 is already almost twice the current melt value of the set.
Have fun. "A fool and his money is soon parted" ~ PT Barnum....allegedly lol
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wow... Significant price increases....Must have exhausted their cheap silver stocks and had to buy new at market price. Or, they just want to increase their profit margins. Yep, that's the ticket. Cheers, RickO
Could this be an official acknowledgement that inflation is on the way?
I knew it would happen.
These are some hefty price increases. I’m glad that I rarely buy anything from the U.S. Mint.
Something sure has changed..,. an earlier post noted the large price increase in bronze medals:
Small Bronze medals are going from $6.95 to $20.00 (187.8% Increase)
Large Bronze medals are going from $39.95 to $160.00 (300.5% Increase)
One thought for the bronze medal price increase was that the Mint was in process of killing off the medal program. But with the wide range of price increases... appears something else is going on.
Collectors gotta be collecting, and when one collects new stuff, well, they're always making more and more
Liberty: Parent of Science & Industry
Once we see what this price increase does to cumulative orders for silver products from the Mint, we will probably be able to form some sort of idea about the price elasticity of silver and the implications for the silver market's supply & demand.
I don't think these decisions were made in a vacuum. Then again, it's gov.com and they don't really have to explain or account for what they do.
I knew it would happen.
Maybe it's in order to spoof the price of new, pretty silver to $67 per troy oz. when bought one at a time. Reflecting Manufacturing and distribution costs and any profit.
Liberty: Parent of Science & Industry
Wheras raw and odd/ugly silver bullion in quantity still costs about $11 to make from rocks and dirt and other metals refining and is "worth" about today's spot price plus shipping and handling costs
Liberty: Parent of Science & Industry
I think anyone would be hard pressed to say that these outsized price increases reflect increases in manufacturing & distribution costs, or we would have seen similar outsized increases in just about every other manufactured & distributed product.
Unless, this is a harbinger of across-the-board price increases to come. Like I said, I don't think that these price increase decisions were made in a vacuum.
I knew it would happen.
I’ll take your first sentiment. Some of us over 50 are thinking gold and silver should still be selling in the teens and one thousands. The days are shortly ahead when the twenties and two thousands will be the new norm. Then there are those still around who think an ounce of gold should be selling for $300/oz.
@Goldenage.... Those of us who purchased gold at $300-400/oz. are sitting very comfortable looking at our stacks and today's prices...
Cheers, RickO
Yes you are. If I guess your age, do I win anything 🤠
@Goldenage... No, I have mentioned my birth year here before....Not a youngster anymore... but still act like one. Cheers, RickO
I do not usually buy silver proof sets anymore. I did buy them from 1992 through 2012. I quit buying them due to quality issues that necessitated some exchanges over some of those years.
However, with the looming price increases going into effect soon, I pulled the trigger and bought a 2020 silver proof set from the mint.
I bought two silver proof sets the other day for my kids as just something to hold and look back on this crazy messed up year we've all been living.
I never buy proof sets, these were the first I've ever bought. I also had no idea about the pending price jump. So it was without much thought that I put two in my cart for $63 + each.
The next day, while going to show the wife what the proof sets looked like, I was shocked to find the $105/each price tag. I hit refresh on the browser once or twice, as I figured it must have to be some kind of glitch on their end. Nope. A quick web search revealed the substantial price increase.
I believe that a good number of proof sets get sold as the holidays approach, people giving them as gifts to children and what have you, but this year I think the Mints new price point might dampen some of those holiday sales, particularly among buyers who already knew that the sets had been selling for substantially less.
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