Mint News Blog

News, Information, and Commentary on US Mint Products

Thursday, March 6, 2008

Rising Silver Makes 2007 Silver Proof Set a Bargain

Recently silver has been taking the lead in the ongoing precious metals run. At the start of the year, the price of silver was $14.83 per ounce. As of the writing of this post, the value has risen to $20.68 per ounce. This represents a rise of nearly 40% in two short months.

So far, silver's rise has not caused the US Mint to suspend or re-price any of their products, but it is creating some incredible relative bargains.

The best example is the 2007 Silver Proof Set. This set contains 90% silver versions of the Roosevelt Dime, Kennedy Half, and 5 State Quarters. The sets were first offered on August 23, 2007, priced at $44.95 per set. On that date, the price of silver was only $11.69 per ounce.

With silver now at $20.68 per ounce, the silver coins in the set carry a significant value based on the metal content alone. Based on figures from Coinflation, the value of the silver content of the set is $27.67. In addition, the set also includes four proof Presidential Dollars, a proof Sacagawea Dollar, proof Jefferson Nickel, and proof Lincoln Cent.

With the silver content alone now carrying such a large value, this set is a bargain at its original offering price of $44.95. The Mint still has the 2007 Silver Proof Set available for sale here.



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