US Silver Sets Back to Availability

Collectors can again purchase silver sets that the United States Mint took off sale following a meteoric rise in silver prices.

2010-dated sets, which include the Silver Proof Set and America the Beautiful Quarters Silver Proof Set, were pulled from Mint store shelves on September 2 when silver prices surged nearly $2 to a high of $43.50 an ounce.

Credited to falling precious metals prices, the sets returned to availability on September 12 at prices that were unchanged — $64.95 for the Silver Proof Set and $39.95 for the America the Beautiful Quarters Silver Proof Set.

The United States Mint has been careful not to offer its numismatic or collector precious metals products when their melt values approach their listed prices. The quarters set contains 0.904 ounces of silver. The annual proof set comes in at 1.338 ounces.

Collectors should prepare for the possibility that the sets could go off sale once again. That trip has already been made several times this year as precious metals move in roller-coaster fashion. In a snapshot and as an example, silver futures in New York dropped 25 cents under $40 an ounce on Monday but they have, as of 1:16 p.m. Eastern Time on Tuesday, driven as high as $41.385 an ounce — a gigantic swinging increase of $1.635, or 4.1%, in one day.

While the Mint has not yet sent out a notice, it is also presumed that its 2011 silver sets are also available again through its bulk purchase program. Priced higher than the companion 2010-dated sets, 2011 sets remained on sale for direct customer purchases but not for bulk purchases where discounts are offered to qualifying coin dealers.

The United States Mint currently has a pricing policy in place for its numismatic gold coins where they may go up or down in price based on large fluctuations in the value of gold. When price adjustments are needed, the coins are suspended for a few minutes before buyers can place new orders. The Mint does not have a companion pricing system in place for its numismatic silver products. The result, typically, is that they remain unavailable for a longer period of time — waiting for silver prices to stabilize and/or for new prices to be announced via the Federal Register.