2012 Limited Edition Proof Sets Include 90% Silver Coins and Eagle

Confirmed by the U.S. Mint towards the end of the business day on Monday, the 2012 United States Mint Limited Edition Silver Proof Set includes seven 90% silver coins minted in San Francisco and one proof American Silver Eagle struck at West Point.

As the name of the numismatic product implies, the set is limited in the sense that no more than 50,000 will be issued. Buying is also further limited to two sets per household. But, there is doubt as to whether there will be a large scramble by collectors to gobble up the limited edition proof sets since the coins in it are available at cheaper prices elsewhere.

Like described over the weekend, it turns out that the proof sets will feature:

• One West Point minted 2012-W Proof American Silver Eagle coin

• One San Francisco struck 2012-S Kennedy silver half-dollar

• Five San Francisco produced 2012-S America the Beautiful silver quarters — depicting El Yunque National Forest, Chaco Culture National Historical Park, Acadia National Park, Hawaii Volcanoes National Park, and Denali National Park and Preserve

• One San Francisco struck 2012-S Roosevelt silver dime

Aside from the American Silver Eagle that is minted from one ounce of silver to a purity of 99.9%, the silver coins are each struck in 90%.

The proof American Silver Eagle is the same coin the United States Mint sold separately for much of the year at $59.95. The seven 90% silver coins are the same ones that are within the 2012 Silver Proof Set that also comes with seven other clad coins, and is sold by the Mint today for $67.95.

In short, many collectors have already purchased the silver coins for $127.90 ($59.95 + $67.95). Aside from that, buying them in the 2012 Limited Edition Silver Proof Set costs $149.95, or $22.05 more and that is without the other seven clad coins.

The melt value of the set is also an obstacle, as it further highlights the set’s premium. The Silver Eagle and 90% silver coins have a combined silver weight of 2.338 ounces. With that, the set has a melt value of $77.61 at today’s London Fix price of silver at $33.19 an ounce. That places the set’s premium at $72.34.

A product page for the Limited Edition Silver Proof Set has now been published by the U.S. Mint. It is located here.