US Mint Reduces Prices on Five Numismatic Silver Coins

by Darrin Lee Unser on December 28, 2011 · 0 comments

2011-P Gettysburg National Military Park Five Ounce Silver Uncirculated Coin

The Gettysburg National Military Park 5 Oz Uncirculated Coin is one of five silver coins to have its price reduced

The United States Mint on Tuesday once again reduced prices on several numismatic silver coins, marking the second such occurrence in less than three months. Affected by this latest round of price cuts were the uncirculated American Silver Eagles and four America the Beautiful Five Ounce Silver Uncirculated Coins.

"American Eagle Silver Uncirculated Coins and America the Beautiful Five Ounce Silver Uncirculated Coins, previously taken off sale for re-pricing, are now available at new LOWER PRICES. Be sure to PLACE YOUR ORDER TODAY," the United States Mint advertises on its online store at www.usmint.gov/catalog.

These price drops were precipitated by a falling silver market which is down over 40% from its high earlier this year. The precious metal averaged in the lower $29 region all last week. For comparison, silver traded at a 2011 high of over $48 an ounce in late April. That late April figure also marked a three-decade high for the white metal.

Since that peak, downward silver trends have now led to two price reductions from the United States Mint for associated numismatic silver products. The first occurred in early October when the Mint dropped prices on its available America the Beautiful Five Ounce Coins from their initial points of $279.95 to $229.95, a decrease of $50 per coin. The uncirculated Eagles had been selling for $60.45 before its price was cut to $50.95.

Those prices have been lowered even more thanks to this most recent adjustment. The table below shows the five affected coins, their old prices and the price they are now available.

U.S. Mint Numismatic Coin Pre-Suspension Prices Post-Suspension Prices Change
2011 Uncirculated American Silver Eagles 50.95 45.95 -$5.00
2010 ATB Mount Hood National Forest 5 Ounce Silver Coins 229.95 204.95 -$25.00
2011 ATB Gettysburg National Military Park 5 Ounce Silver Coins 229.95 204.95 -$25.00
2011 ATB Glacier National Park 5 Ounce Silver Coins 229.95 204.95 -$25.00
2011 ATB Olympic National Park 5 Ounce Silver Coins 229.95 204.95 -$25.00

 

The American Eagle contains one ounce of .999 fine silver. The America the Beautiful Silver Uncirculated Coins contain five ounces of .999 fine silver.

Just like the early October price adjustments, this latest round notably did not affect the annual silver sets. On several occasions throughout the year, the United States Mint has suspended sales of the sets only to return them at a later date at the same price. An exception was in March when the 2010-dated sets went up in price when precious metals were soaring. Each 2010 and 2011 Silver Proof Set contains 1.33823 troy ounces of the precious metal with the associated America the Beautiful Quarters Silver Proof Sets containing 0.90420 ounces.

The United States Mint is currently offering the 2010 Silver Proof Set for $64.95 and the 2011 Silver Proof Set for $67.95. The 2010 Quarters Silver Proof Set is available for $39.95 and the 2011 Quarters Silver Proof Set for $41.95. The United States Mint will take the 2010-dated sets go off sale on Friday, December 30, at 5:00 PM ET.

Learn more about the five ounce coins here and American Eagles here.

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