On Monday, the United States Mint again suspended sales of several numismatic silver coin products, including its Silver Eagles, Silver Proof Sets, and America the Beautiful Five Ounce Coins. As of now, no gold products were affected.
The annual silver sets already experienced several suspensions this year due to volatile precious metals prices, but this time it was for falling prices and involved many more Mint issues. It is not known how long the silver product sales will be halted, but cheaper prices are expected when sales resume -- as long as silver prices do not jump significantly higher.
The white precious metal took a nose dive between Wednesday, September 21, when it was $40.25 on the London Fix and Monday, September 26, when it hit $28.16. However, at least a partial recovery was just around the corner as the London Fix listed the metal at $33.50 an ounce today.
If the United States Mint decides to lower its prices on the silver products, the new prices would likely be published in a memo from the Department of the Treasury in the Federal Register, an official daily publication for government notices, before they go into effect.
So far, the suspended items include:
2011 American Eagle Silver Uncirculated Coin2011 American Eagle Silver Proof Coin2011 America The Beautiful Quarters Silver Proof Set™ 2010 America The Beautiful Quarters Silver Proof Set™ 2011 U.S. Mint Silver Proof Set 2010 U.S. Mint Silver Proof Set 2011 Gettysburg National Military Park ATB Five Ounce Silver Uncirculated Coin2010 Mount Hood National Forest ATB Five Ounce Silver Uncirculated CoinThe United States Mint commemorative silver coins and medals are still available. Their prices are based on a different model, as are the numismatic gold coin products. The Mint has a published coin pricing grid for most of those items, and prices are re-evaluated and adjusted as needed every Wednesday.
Related posts:
US Mint Collector Gold Coins and Silver Set Suspensions ReturnUS Mint Sales: 2011 Proof Gold Eagles, Five Ounce Silver Bullion Coins DebutTagged as: Silver Coins, United States Mint
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