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Thursday, June 27, 2013

Update on Silver Numismatic Product Pricing

Posted by Mint News Blog 
As a follow up to yesterday’s post, the United States Mint has provided a statement regarding the pricing for silver numismatic products. The statement also specifically addresses the delay in releasing the 2012-P Great Basin National Park Five Ounce Silver Uncirculated Coin, which was previously scheduled for release this week.

While a pricing change for silver products is not confirmed, the US Mint indicates that one is being considered. The determining factor will likely be whether there is any significant movement in the market price of silver in the next week or two that it will take to publish notice of a pricing change. In the past, there have been some situations where product sales were suspended pending a pricing change, but resumed without a change after metals prices moved in the opposite direction.

The full statement from the US Mint is as follows:

Due to the recent decrease in the price of silver, the United States Mint is considering lowering prices on several silver coin products.  As a result, we have postponed the launch of the 2013 America the Beautiful Five Ounce Silver Uncirculated Coin for Great Basin National Park that was scheduled to go on sale June 27.  The new prices will go into effect after being published in the Federal Register and after a new on-sale date has been determined.

While the pricing decrease is being considered, collectors may want to hold off on purchasing the currently available America the Beautiful Five Ounce Silver Uncirculated Coins, which are priced at $179.95, and products containing numismatic versions of the American Silver Eagle.

Based on previous actions, if prices are lowered for these products, it may be for around $5 per ounce of silver content.