2012-W Proof American Silver Eagle Coin Reduced by $5

by CoinNews.net on July 24, 2012 · 7 comments

2012-W Proof American Silver Eagles have yet to return from a re-pricing suspension, but they should soon. And at a lower price.

2012-W Proof American Silver Eagle

The 2012-W Proof American Silver Eagle coin went off sale in mid July for re-pricing

Collectors will pay $5 less per coin, the U.S. Mint states in a pricing notice that will appear tomorrow, July 25, in the Federal Register.

[Update: Sales of the proof resumed at the reduced price on the morning of the 25th.]

Released on April 12 at $59.95 when silver hovered near $31.50 an ounce, the Silver Eagle’s new $54.95 price comes at a time when the white metal has struggled to attain $27 an ounce.

Pulled from U.S. Mint store shelves in mid-July after silver had hit an all-time 2012 low of $26.67 an ounce, the proof American Silver Eagle was the lone silver product to face a temporary suspension — perhaps due to its higher premium. The coin’s new premium remains hefty still, at about $28 above the melt value of its one ounce of 99.9% fine silver. Its companion uncirculated Eagle also from West Point is scheduled for release on August 2 at a lower price of $45.95.

All Silver Eagles contain the same design and silver composition. The varying factors are the type of finish, mint of origin and the presence or lack of a mint mark. For reference, the following table lists each of the 2012 dated coins.

Type of 2012 American Eagles Mint Mark Sold Within Price
2012 Bullion American Silver Eagle None Individually Market Based
2012-W Proof American Silver Eagle W Individually $54.95
2012-W Uncirculated American Silver Eagle W Individually $45.95
2012-S Proof American Silver Eagle S American Silver Eagle Two-Coin Proof Set; Making American History Coin & Currency Set* $149.95; $72.95
2012-S Reverse Proof American Silver Eagle S American Silver Eagle Two-Coin Proof Set $149.95

 

*The Making American History Coin & Currency Set is scheduled with a release date of August 7, 2012. It will include a San Francisco produced proof Silver Eagle and $5 bill.

While the U.S. Mint pricing notice is set to make a public appearance Wednesday on the Federal Register, it was dated July 17, 2012. As such, the proof coin could potentially return for sale at any time.

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Joe
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Joe

The Mint could have gone lower and still make a good profit. They would sell more and make more money in the long run and everyone is better off.

Brian V.
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Brian V.

Hey Joe…I agree, and the push in demand would perhaps lower total mintage for win-win, by increasing pricing in years to come. You could actually make some profits ten years down the road…that would be nice.

Charlie
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Charlie

Joe and Brian want to make a profit but they don”t want the manufacturer of the product to make a profit. HHHMMMMM how does that sound? How many businesses have you heard of that sell a product at cost pay their employees pay the light bill maintain a web sight just so the buyers of their products could make a profit? Have either one of you guys ever bought a designer anything for your wife or girlfriend? Have you ever paid the extra for the green and yellow paint on a tractor? Buy a brand new car instead of the one year old same model for thousands less? Come on guys if you don’t want the products the US MINT sells because you can”t make a profit get youselve’s a car dealership.

Joe
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Joe

Charlie, I’ve bought my share of proof silver eagles. It’s for the people out there that can’t afford them. That’s what I was getting at.

Homer
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Homer

Look at what the new London Olympic 5 oz coins are selling for. Over $800 for a 5 oz silver coin. US Mint prices are a bargain in comparison. Although I suspect no matter what they cost, there will always be people who aren’t happy. I don’t think the purpose of the mint is to price things so that people buying the product will make money in the future. Buy bullion if you are looking for a potential investment. So-called investors generally ruin most collecting fields they get into. They suck all the money out of it they can then they move on. Now it is so shameless with people bragging about their flipping skills. It is just greed. Go play with the sharks if you want to try to make money. Leave collectors alone.

Joe
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Joe

Homer who said anything about flipping. And I can’t think of a coin from the Mint that went down in value over the years. Remember someone is going sell your collection someday out of greed or maybe they need the cash unless you bring it with you when you pass away.

Joe
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Joe

Brian v. Thats a good time frame 10 years I agree.