2010 Silver Proof Set Sales Suspended
As the price of silver broke above the $40 per ounce level, the US Mint has suspended sales of the 2010 Silver Proof Set and 2010 America the Beautiful Quarters Silver Proof Set.
Both of the products are listed on the website as "temporarily unavailable", which suggests a pending price adjustment. Since these products are not covered by the US Mint's more flexible policy covering most numismatic gold and platinum coins, new prices must be published in the Federal Register in order to become effective. This is a more lengthy process that can take several weeks.
Each of the products had a price adjustment on March 18, when the price of silver was $35.15 per ounce. The previous adjustment increased the price of the full set from $56.95 to $64.95, and the quarter set from $32.95 to $39.95.
The 2010 Silver Proof Set contains silver content of 1.33823 troy ounces, which now yields a melt value of $54.41. The sets also include base metal coins with a face value of $5.06 for a realizable value of $59.47.
The 2010 Quarters Silver Proof Set has silver content of 0.90420 ounces, yielding a melt value of $36.76.
(Prices based on $40.66 silver).
The 2011 versions of the sets, which have the same silver content, remain available for sale at $67.95 and $41.95. These levels are $2 and $3 higher than the prices that were in place for the 2010 versions.
Meanwhile, the price of gold is currently trading at $1,474.00 per ounce. London Fix gold prices have been above the $1,450 level since Wednesday. If this level is maintained through next week Wednesday PM, then a pricing adjustment would take place for the remaining available First Spouse Gold Coins and the 2010 Proof Gold Buffalo.
Labels: Annual Sets