2011 American Silver Eagle Proof Coin Price Announced

The United States Mint revealed that the 2011 American Silver Eagle proof coin will be listed for a price of $59.95 on its June 30 release. As with most products containing precious metal, however, the amount is subject to change should silver make a huge directional swing up or down.

In an earlier article, Silver Coins Today predicted the price for the Silver Eagle Proof would start out around $60 after looking at where silver stood and now stands. One ounce of the white metal had soared to 31-year highs in recent months, and prices are currently spending time around $37 an ounce. That is about $15 higher than the market price of silver when the 2010 American Silver Eagle proof coin launched for $45.95 back in November.

Another newly learned tidbit on the .999 fine silver coins this year was the household limit of 100, which was the same as last year’s order limit and no real surprise.

"As a result of the increase in the cost of silver, the 2011 American Eagle Silver Proof Coin is priced at $59.95," the US Mint noted. It went on to state, "There will be an initial order limit of 100 coins per household. Due to the high volatility in the market price of silver, this price may be subject to change."

There is little doubt that the 2011 Silver Eagle will experience high demand despite its increased price. After all, a $14 higher price tag did not stop collectors last year from scooping up 860,000 coins at $45.95. That was better than the previous issue’s 700,979 when it sold at the less expensive price of $31.95.

Another indication of the proof’s high demand is the correlation between bullion sales and proof sales. As an example, bullion American Silver Eagles were on fire when the United States Mint released the 2010 Proof Silver Eagle. In October 2010, the Mint sold over 3.1 million bullion Silver Eagles — one of the best months ever for the coins. The proof version launched a few weeks later and 273,212 sold in the first three days alone.

Jumping forward to the present, May’s sales total for bullion Silver Eagles topped 3.6 million. It was the fourth best monthly record since the bullion series began in 1986. The timing is primed for solid 2011 American Silver Eagle proof coin sales.