US Mint Increases Prices on Silver Products – CoinNews.net

2020-W Proof American Silver Eagle, Presentation Case and Cert

This CoinNews photo shows a 2020-W Proof Silver Eagle, its case, packaging and certificate of authenticity. It is one of several Mint products for collectors that has been raised in price.

The United States Mint raised prices Tuesday, Oct. 13, on its suite of numismatic silver products. Products affected include American Silver Eagles, silver proof sets, five-ounce silver coins and silver medals.

Several of the products have now seen more than one increase this year when compared against what they would have cost in 2019. Those released last year are also now higher.

Total pricing increases range from $9.50 to $75.05. The differences between product prices and their silver melt values currently range from $35.16 to $139.86.

The Mint released last week a statement on Facebook and Twitter about its new pricing strategy, saying in part:

“In order for the United States Mint to cover rising costs, meet its fiduciary responsibility to operate at no net cost to taxpayers, and return money to the Treasury General Fund, re-setting silver prices is necessary.

The Mint’s goal, as a fiscally responsible self-funded Federal agency, is to always provide the best quality numismatic products while maintaining fair prices. The first objective is to ensure that the numismatic portfolio (all product lines together) be self-sufficient and cover all associated costs. The new silver prices reflect a sound business decision aimed at meeting these obligations. (No tax dollars are used to fund numismatic operations.)

The United States Mint will continue to look for operations optimization and cost reduction efforts to deliver superior quality numismatic products at a fair price.”

The following table lists the U.S. Mint’s silver products for collectors, each of their price increases, their total increase in price, their new price, and their price above the melt value of the silver they contain.

Products January Increases April Increases October Increases Total Increase New Prices Prices Above Silver Spot*
Presidential Silver Medals $6.05 $0 $19 $25.05 $65.00 $40.64
2020 ATB Quarters Silver Proof Set $5.55 $0 $17.50 $23.05 $60.00 $35.16
2020 Proof American Silver Eagles $6.05 $0 $8.50 $14.55 $73.00 $48.64
2020 Uncirculated American Silver Eagle $0 $7.05 $13 $20.05 $67.00 $42.64
2020 Limited Edition Silver Proof Set $0 $20.05 $31 $51.05 $201.00 $139.86
2020 Silver Proof Set $0 $8.30 $41.75 $50.05 $105.00 $68.28
America the Beautiful Five Ounce Silver Uncirculated Coin $0 $23.30 $50.75 $74.05 $229.00 $107.20
End of World War II 75th Anniversary Proof American Silver Eagle $0 $0 $0 (announced price at $83.00) $0 $83.00 $58.64
End of World War II 75th Anniversary One Ounce Silver Medal $0 $0 (announced price at $46.00) $29 $29 $75.00 $50.64
2019 ATB Quarters Silver Proof Set $0 $0 $23.05 $23.05 $60.00 $35.16
2019 American Liberty High Relief Silver Medal $0 $0 $75.05 $75.05 $175.00 $114.10
2019 Congratulations Set $0 $0 $9.50 $9.50 $75.00 $50.64
2019 Silver Proof Set $0 $0 $50.05 $50.05 $105.00 $68.28

*Based on Oct. 16 LBMA silver price of $24.36 an ounce.

Available information for the above products is found on the U.S. Mint’s online catalog of silver coins and silver medals.

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