Mint lowers prices for some silver coins
- Published: Oct 13, 2011, 8 PM
Two weeks after being pulled from sale by the U.S. Mint for repricing, the Proof 2011-W American Eagle silver dollar was returned to the product catalog at a price lower than when the coin was first offered in June.
The U.S. Mint also returned four formerly suspended sets to its offerings list and resumed sales of the Uncirculated 2011-W American Eagle silver dollar and the Uncirculated 2010-P Mount Hood National Forest and Uncirculated 2011-P Gettysburg National Military Park 5-ounce silver coins.
Sales of the various products were suspended Sept. 26.
Price of Proof dollar falls $9.50
The Proof 2011-W American Eagle silver dollar was placed back on sale Oct. 7 at $58.95, a price that was $1 less than when the coin was first offered for sale June 30 and $9.50 cheaper than its price when sales were suspended Sept. 26. Sales of the coin were previously suspended at the original $59.95 price Aug. 24 and resumed five days later at $68.45, a 14.1 percent increase.
The spot price of silver was just over $35 an ounce on June 30. By Aug. 29, the price had risen to just under $41 an ounce. At the time of the Oct. 7 repricing, the spot price of silver was just below $32 per troy ounce.
Sales of the Uncirculated 2011-W American Eagle silver dollar began Sept. 15 at $60.45 per coin, and the price remained at that level until sales were suspended Sept. 26. When sales resumed Oct. 7, the price was $50.95, lower by $9.50.
The Mount Hood and Gettysburg 5-ounce coins offered under the America the Beautiful Quarters Program were offered at $279.95 when sales were suspended Sept. 26 for repricing. Both of the coins were returned to sale at $229.95, $50 below their original issue price.
Mint maintains Proof set pricing
Also suspended for repricing Sept. 26 were the 2010-S and 2011-S Silver Proof sets and America the Beautiful Silver Quarters Proof sets, all of which were returned to sale Oct. 5 at the same price they were when sales were suspended, according to U.S. Mint spokesman Michael White Oct. 5.
The 2011-S Silver Proof set is being offered at $67.95; the 2010-S Silver Proof set is priced at $64.95.
The 2011-S America the Beautiful Silver Quarters Proof set is being offered at $41.95 per set; the 2010-S America the Beautiful Silver Quarters Proof set is priced at $39.95. Both sets contain five coins each. ¦