U.S. Mint premiums continue to fall for collector-priced silver coins and sets as their melt values move higher with the market price of silver. If you want a bigger bang for your buck, is now the best time to purchase? Not necessarily.
Silver has surged $6.47, or 23.0%, this year based on Wednesday’s London fixing at $34.65 an ounce. Yet, premiums for silver coins have been fluid since silver has been riding a roller coaster this year, as highlighted by its monthly ranges.
|London Fix for Silver – Monthly Low and Highs|
In running the numbers, some silver coins and sets at least appear more attractive today than when they launched as their melt values are closer to their price.
Annual silver sets make that case, as do all of the America the Beautiful Five Ounce Silver Uncirculated Coins. In some instances, premiums for the ATB silver coins are less than half of what they were when released.
The Mint’s popular 2012-W Proof Silver Eagle is another example. Its pricing appears cheaper than when released not only because its melt value is now higher, but also because of its earlier price cut. Released on April 12, 2012 at $59.95 when silver neared $31.50 an ounce, the proof coin’s price was dropped in July to $54.95 when silver struggled to attain $27 an ounce. The proof Silver Eagle remains on sale today despite silver’s new uptrend.
On the other hand, premiums are higher today for the proof and uncirculated Infantry Soldier Silver Dollars and Star-Spangled Banner Silver Dollars. That is because the commemorative coins happened to launch when silver was nearly at today’s price, and because the U.S. Mint first offered them at introductory pricing that was $5 cheaper. It would have been better to buy these silver coins when they were first released.
The following table compares premiums (price over melt values) for silver coins and sets from their release date to today, August 19, 2012. Coin melt values and resulting premium comparisons are calculated using the London Fix price of silver between the two dates, as well as any differing product prices between the periods.
|U.S. Mint Product||Date of Release||Price on Release||Current Price||Release Premium||Current Premium|
|2012 America the Beautiful Quarters Silver Proof Set||January 10, 2012||41.95||15.10||10.63|
|2011 Vicksburg ATB 5 Oz Silver Uncirculated Coin||January 12, 2012||204.95||52.05||31.70|
|2011 Chickasaw ATB 5 Oz Silver Uncirculated Coin||February 9, 2012||204.95||35.95||31.70|
|2012 Infantry Soldier Silver Dollar Defenders of Freedom Set||February 16, 2012||51.95||26.29||25.17|
|2012 Infantry Soldier Uncirculated Silver Dollar||February 16, 2012||44.95||49.95||19.29||23.17|
|2012 Infantry Soldier Proof Silver Dollar||February 16, 2012||49.95||54.95||24.29||28.17|
|2012 Star-Spangled Banner Uncirculated Silver Dollar||March 5, 2012||44.95||49.95||18.51||23.17|
|2012 Star-Spangled Banner Proof Silver Dollar||March 5, 2012||49.95||54.95||23.51||28.17|
|2012 American Eagle Silver Proof Coin||April 12, 2012||59.95||54.95||28.48||20.30|
|2012 El Yunque ATB 5 Oz Silver Uncirculated Coin||May 29, 2012||204.95||63.70||31.70|
|2012 Star-Spangled Banner Bicentennial Silver Dollar Set||June 1, 2012||53.95||32.77||27.17|
|2012 Silver Proof Set||June 4, 2012||67.95||31.31||21.59|
|2012 American Eagle San Francisco Two-Coin Silver Proof Set||July 2, 2012||149.95||95.23||80.65|
|2012 Chaco Culture ATB 5 Oz Silver Uncirculated Coin||July 9, 2012||204.95||68.75||31.70|
|2012 American Eagle Silver Uncirculated Coin||August 2, 2012||45.95||18.53||11.30|
|Making American History Coin and Currency Set||August 7, 2012||72.95||44.95||38.30|
|2012 Acadia ATB 5 Oz Silver Uncirculated Coin||August 13, 2012||204.95||64.70||31.70|
|2012 United States Mint Annual Uncirculated Dollar Coin Set||September 6, 2012||54.95||22.08||20.30|
This site’s silver coin price guide page offers current melt values for most of the above silver coins and sets.