Silver Coins and Sets Poised for US Mint Price Hikes

Chances have sharply climbed for potential United States Mint price increases across its range of silver coins and silver sets intended for coin collectors.

This week the London silver fixing soared $2.52, or 12.4%, to $22.83 an ounce. That crunches the space between the coins’ retail price and their melt values, which is monitored closely by the US Mint. Spot silver prices continue their climb, jumping at present to $23.37 an ounce.

As a reference point, the US Mint reduced prices 7-14% on silver coins and silver sets on July 11, 2013 after the white metal plunged to a near two-year low at $18.61 an ounce. Before then, on May 2, 2013, it had trimmed prices on a few other silver products after silver fell sharply to hover close to the $23 an ounce level, or near where silver is today.

If there are any changes in the works, it could go a few ways. In cases of extreme volatility in precious metals, the US Mint has suspended sales of silver coins for several days, waiting for silver to stabilize. There are times when silver returns and the Mint resumes selling its products with no pricing changes. In other cases, the Mint eventually publishes new prices on the Federal Register, waits for them to become public and then resumes sales at the new prices. In either instance, the products can become unavailable from several days to weeks.

Silver coins that could see pricing adjustments include:

• 2013-W American Silver Eagle Proof Coin, now at $52.95
• 2013-W American Silver Eagle Uncirculated Coin, now at $43.95
• 2013-P Great Basin National Park ATB Five Ounce Silver Uncirculated Coin, now at $154.95
• 2013-P Perry’s Victory & International Peace Memorial ATB Five Ounce Silver Uncirculated Coin, now at $154.95
• 2013-P White Mountain National Forest ATB Five Ounce Silver Uncirculated Coin, now at $154.95

Silver sets that could see adjustments include:

• 2013 Silver Proof Set, now at $53.95
• 2013 US Mint Congratulations Set, at $54.95 it includes a proof Silver Eagle
• 2013 America the Beautiful Quarters Silver Proof Set, now at $31.95
• 2012 America the Beautiful Quarters Silver Proof Set, now at $31.95

There is a chance that the several commemorative products containing the Girl Scouts Silver Dollars and 5-Star Generals Silver Dollars could also be affected, although they have a bit more pricing cushion and are less susceptible to pricing adjustments.