The United States Mint announced new pricing for its three most popular annual sets for 2017. They look attractive at multi-year lows, but that appeal loses some luster when remembering that the sets have fewer dollars.
Last year marked the end of the Presidential $1 Coin Program so this year’s proof, silver proof, and uncirculated sets have from 3 to 6 fewer coins. The new price changes include:
- 2017 Proof Set for $26.95.
- 2017 Silver Proof Set for $47.95.
- 2017 Mint Set for $20.95.
Compared to last year’s products, both proof sets have 3 fewer dollars and their prices fell by $5. The uncirculated mint set has 6 fewer dollars and its price dropped by a matching $6.
Let’s look back further to 2006 when sets last held the same type and number of coins. The 2017 Silver Proof Set is $10 higher than its companion from 2006 while the 2017 Proof and Mint Sets are each $4 more than those from 2006.
Are these price increases reasonable?
Before answering, we should compare them with average gains of goods and services across the country. To do that, let’s adjust them for inflation since inflation has advanced a cumulative 19.1% in the last decade alone. By that measure, the
- 2006 Proof Set would be $27.32, compared to its issue price of $22.95, or 37 cents more than this year’s set.
- 2006 Mint Proof Set would be $20.18, compared to its issue price of $16.95, or 77 cents less than this year’s set.
- 2006 Silver Proof Set would be $45.18, compared to its issue price of $37.95, or $2.77 less than this year’s set.
Silver Proof Sets climbed the most in dollars, though each has 1.338 ounces of silver to consider in yet another light. The London fixing for silver was $9.91 an ounce on Jan. 31, 2006. It’s now trading 76.6% higher at $17.50 an ounce — easily topping the same-time inflation increase of 19.1%. Today, the U.S. Mint is getting hit harder on what it’s having to pay for silver blanks, which obviously factors into their pricing structure.
The U.S. Mint is yet to announce release dates for the three annual sets.
I wish the prices were more reasonable.
Pls. Let me know when the sets are available
To a disabled veteran of the Navy.
I’m still fighting even after discharged..
Hoooo freek.kin ray for the V.A.
Mark
Guess I ll wait a few yrs till they get
beat.n up ….. an still pay more….
Never win…. O…Freak.kin well..
Life goes on.
Never understood inflation. If there is plenty of supply and demand is the same why should prices change?
BUt, per the Feds there has been & is no “inflation” The mint needs top up the prices as collectors of such as mint sets are going the way of the dinosaur….
Chas Barber –
It will be interesting to see how sales of these 2017 sets go with fewer coins & lower prices for sure!
The Mint has not sold anywhere near 1 million clad Proof sets since 2011 & has not sold more than 500,000 sliver Proof sets since 2011 & has not sold more than 1 million Uncirculated coin Mint sets since 2005.
Happy collecting everyone!
-NumisDudeTX
Im strill tryng to figure out why the 2016 burnish eagle has edge 30th anniversary lettering on them,when the burnish eagle has only been around 10 years!!
There’s no accounting – literally – for the mint’s pricing of silver coinage. The mint never explains what makes up the price of a silver coin. Gold and platinum sure, they pricing tables but nothing explaining why the price is what it is for silver coins.
On the Mint’s silver …. I still remember the pricing of their first “P” pucks in 2010 … it was $276 I think .. and I just had to buy all five ..
Tinto –
Same here. According to my records the London Fix Price for silver when the Arkansas coin came out was 48.70/oz. The mint price/oz. came out to $56. That’s an $8 mark-up per oz.. For the Arizona coin at issue the LFP had dropped $14 and yet the mint price remained the same.
The quality of the coins wasn’t that great to me so I stopped buying after that first year.
jim Yeah the finish of the “P” pucks just turned me off … the Mint’s so called vapor blasting process only had a dulling effect of the coin’s surface with lessened details vs the bullion (IMO) .. I was thinking they were going to issue them in the proof finish for the collector version .. that would have really been something to see … the only close version to that are the deep mirror ones, I too stopped buying the “P” except for the TR puck .. and now I am down to regularly buying only the NA $1 C&C… Read more »
Paul. I believe ALL 2016 ‘annicersary’ ASE are mandated to have the distinctive edge lettering v. reeding. @ least that’s what I was reading….we need more humor in America & coin collecting, those most collectors I know do have some sarcastic wit, or are funny…a few are real nebish,…bookwormish..not that there is ANYTHING wrong with that…we need all we can get, perhaps some US MINT app pop up as everyone has their head into their iPhone like it’s a hypnotic device…..
excuse my typos please..anniVersary…..though…..
speaking of 2016 W burnished ASE…why are sales virtually at a standstill..? Mint weekly sales have shown around 168K sold…. even the Annual UNC $$ set has only added another 15K to that figure… have to wonder if sales will end very soon…if that should happen. at some point collectors may have a change of heart and pay more…could be a new low for the issue… Mint should have given serious consideration to redesigning the coin’s reverse… 2017 would have been a good time to do this…..what else can they do with this design?? U>S> Mint is falling behind other… Read more »
Sales were supposed to stop end of year 2016 by law.
I like the silver eagle just as it is, minus the edge lettering thank you very much – I prefer the reeded edge myself.
re: attracting big sales – isn’t that what we want? Low sales, more rarity, bigger value in after market?
Ottawa and Perth are minting curiosities and the variety from both is overwhelming. But I think they both know their customers (unlike the US Mint) and make just enough to satisfy demand. US Congress isn’t interested in competing.
jim…aren’t you growing weary of 30-year run of ASE..? Maybe the Mint should try to get Mercanti back to design a new reverse (at the very least…)
I guess record bullion sales tells the mint all it needs to know…. anyhow, majority of ASE’s are purchased for long-term investment so I guess it doesn’t really matter what they look like…. even if they have a likeness of Mickey Mouse
I thought the mint was going to do the silver proof set @ .999 silver as this is easier then how they produce them now
foxy3 – No, not getting tired. Actually I put my collection away so I’m not continually gazing at it every day. Since I buy a new one every year that’s about the only time I see the coin and am pleased every time I do. The US Mint is well known for not having a lot of artistry in it’s designs, hence the designs on the gold eagle, the gold buffalo, the silver eagle, and the palladium liberty (if they ever get up the nerve to actually produce it). Those designs are all close to or over 100 years old… Read more »