Release Date and Price for 2012 American Silver Eagle Proof Coin

Last week, the United States Mint posted a release date for the 2012-W American Silver Eagle Proof Coin via its website. In further preparation for that release, new pricing has the Eagle launching a few bucks under a previously announced sale price.

According to the Mint’s updated product schedule, its popular American Silver Eagle will be released on April 12, 2012. A notice published today in the Federal Register indicates that the 99.9% fine silver proof coin will be sold for $59.95. That is actually a $2 reduction from the amount printed in the Federal Register just two months ago.

What makes the latest price interesting — aside from the modest savings — is that the silver market actually climbed significantly between the two announcements. When the first notice in the Register appeared on January 6, 2012, the London fixing for silver was $29.40 an ounce. Since then, the precious metal has flirted as high as $35.21 an ounce with recent prices holding above $32.

At $59.95, the 2012 American Silver Eagle Proof Coin will debut at the same price as last year’s release. It should be noted, however, that the 2011 Eagle realized two price adjustments during its tenure on the Mint’s shelves. Last year’s proof coin was not issued until June 30. It remained at its initial price until late August when the U.S. Mint raised it to $68.45 following a silver market that had tread well above $40 an ounce. The price then fell to $58.95 in early October after the white metal returned toward $30.

A maximum mintage for this year’s Silver Eagle has not been announced by the Mint, which is typical. Usually the proof coin is available for an extended period — several months at least. Early demand will often determine its eventual mintage. Last year’s proof Silver Eagle ended with total sales of 950,000, with 850,000 of those sold individually and 100,000 as part of the sold out American Silver Eagle 25th Anniversary Set.

Initial demand for the Eagle’s is typically strong. In just six days last year, collectors ordered a total of 367,623 of the coins.

The American Silver Eagle Proof Coin is struck as a collector version of the Mint’s bullion Silver Eagles. Both the proof and the bullion coin debuted in 1986 and have featured an image of Walking Liberty on their obverse ever since. "Liberty" was originally designed by Adolph A. Weinman for use on the 1916-1947 half dollar coin and has come to be known as one of the most beautiful designs struck on an American coin.