US Mint Raises Proof Silver Eagles Almost 15%...

ianrussell · August 29, 2011 7:03AM

2011 Proof Silver Eagles are available again at the Mint (they took them down last week for repricing).

They were $59.95, and now they are $68.45. Since they have already sold 700k coins at $59.95, I am surprised they would raise the price on the rest (no one really knows how many they are going to make).

- Ian

pf70collector · August 29, 2011 7:14AM

Does not make sense since Silver has hardly budged. Expect the Anniversary sets to be in the $400-$430 range at these prices.

19Lyds · August 29, 2011 7:18AM

I expect it has a lot to do with theoir current silver contracts and am not really surprised at the price increase.

This move practically "insures" that the 5 piece 25th Anniversary Set will be over $400.

PinkFloyd · August 29, 2011 7:50AM

They're keeping it up because the tentative price for the 2011-W is going to be around ~$60. Naturally, the proof strike is going to cost more.

My guess on the anniversary set price is somewhere between $329-$399.

mrearlygold · August 29, 2011 8:46AM

Just seems to be a lot of money for a newly minted silver round.

Raufus · August 29, 2011 9:10AM

None for me (unless it looks like the mitages will be low, of course).

TwoSides2aCoin · August 29, 2011 9:58AM

<< Just seems to be a lot of money for a newly minted silver round.

>>

Maybe in anticipation of hyper inflation, the U.S. Treasury is thinking ahead.
....or

causing it

mrearlygold · August 29, 2011 10:28AM

<< 

<< Just seems to be a lot of money for a newly minted silver round.

>>

Maybe in anticipation of hyper inflation, the U.S. Treasury is thinking ahead.
....or

causing it >>

In terms of pricing, the gouging they hope to bestow on as many er, buyers is hyper!

ianrussell · August 29, 2011 10:41AM

No way the Mint was making money at $59.95.

Lets imagine spot is at $41. They have to strike the coin, package it, store it, market it - support countless staff and sell for $59.95.

I don't think they are making money at $68.45 either.

- Ian

TwoSides2aCoin · August 29, 2011 12:14PM

<< No way the Mint was making money at $59.95.

Lets imagine spot is at $41. They have to strike the coin, package it, store it, market it - support countless staff and sell for $59.95.

I don't think they are making money at $68.45 either.

- Ian >>

I know they're making money. It's what they do. Problem is : their cohorts in other sectors are spending it faster than the mint can make it.

LogPotato · August 29, 2011 12:23PM

Stinks for the people that just have to have one. Luckily, that's not me.

pf70collector · August 29, 2011 10:16PM

I stopped collecting these last year. Selling some of my older ASE Rolls also. Though in for the anniversary sets.

mixman · August 29, 2011 11:29PM

Call me cynical but I think they made this move so they could price the Anniversary set at $400+.

Also gives them room to price the W uncirculated and the 9/11 medals at 60 and maintain a "proof premium".

Dabigkahuna · August 30, 2011 12:05AM

Just got notification that the mint will be releasing the burnished uncirculated 20011-W Silver Eagle for a price of $60.45.

19Lyds · August 30, 2011 12:42AM

<< They're keeping it up because the tentative price for the 2011-W is going to be around ~$60. Naturally, the proof strike is going to cost more.

My guess on the anniversary set price is somewhere between $329-$399. >>

I could see $399 at the very minimum based upon the 20th Anniversary Set Pricing and individual coin costs. Rmembering that the reverse Proof was never an individual Option so its price was unknown.

keyman64 · August 30, 2011 1:51AM

Interesting...

PinkFloyd · August 30, 2011 3:09AM

<< 

<< They're keeping it up because the tentative price for the 2011-W is going to be around ~$60. Naturally, the proof strike is going to cost more.

My guess on the anniversary set price is somewhere between $329-$399. >>

I could see $399 at the very minimum based upon the 20th Anniversary Set Pricing and individual coin costs. Rmembering that the reverse Proof was never an individual Option so its price was unknown.

>>

You may be right, Lee. They will be able to get an especially nice premium from two special strikes (rev. proof and "S" mint). Add the nice packaging in too.

What was the issue price of the 2006 set?

mrearlygold · August 30, 2011 3:41AM

I made money when I personally struck the first official Florida gold and silver rounds ( that the mint later seemed to steal the essence of the design and then ruin it ) and I sure didn't strike a gazillion of them. It's not that big a deal. But they don't run it like a business, they run it like another welfare/government office and so it doesn't surprise me if it's not profitable.

( and I was charging $2.00 over spot on the 1 oz silvers. I kept most of the golds ( 1/10 oz .999 ) and was charging a few bucks over spot.

PinkFloyd · August 30, 2011 4:15AM

I don't think we'd be seeing 5-coin ASE sets if they weren't making money on these. They've got a winner design on their hands and they're milking it for all its worth.

OPA · August 30, 2011 4:20AM

<< What was the issue price of the 2006 set? >>

$100

I anticipate further price fluctuations down the road and still believe the 25th anniv. set will come in around $350+ and not below.

19Lyds · August 30, 2011 4:28AM

<< What was the issue price of the 2006 set? >>

$100 and folks were squawking about the price since silver, at the time, was only $12 an ounce.

There were also quite a few that cancelled their orders once they found out that the 2006-W Burnished coin was being made available separately. The 2006-W Proof had already been available for months leaving only the Reverse Proof as the sole unique coin in the Anniversary Set.

For this 25th Anniversary Set, there will be at least 2 unique coins unless of course the 2011-S is made available as a separate opetion along with the 2011-W?

IMO, folks need to stay away from these since........well...whatever......

RobertS · August 30, 2011 5:25AM

this is more kaka from the mint, price gouging in my opinion.

OPA · August 30, 2011 6:09AM

<< this is more kaka from the mint, price gouging in my opinion. >>

If you don't like the price, you can always buy a classic, almost 1 oz silver Morgan or Peace $, for a similar price. It won't be a 66 or higher though. The same folks who cried: "gouging" when APMEX originally priced the pucks or the Mint priced their P versions, likely will also sing the same tune with these. Not to worry though, the "Forum Posse," will look out for my best interest.

US Mint Raises Proof Silver Eagles Almost 15%...

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