On Thursday, June 7, 2012, the U.S. Mint will make available an anticipated collectible product it has named 2012 American Eagle San Francisco Two-Coin Silver Proof Set.
Not yet listed on the U.S. Mint’s website, earlier this week CoinNews.net indicated that the set’s price is $149.95. At $28.52 an ounce for silver right now, that represents an amount which is $92.25, or 160% higher than the $57.70 melt values of the two Silver Eagles within it.
For sure, newly issued numismatic coins always carry a much higher premium than the associated coin melt values. They are never sold like bullion coins or even bullion American Silver Eagles for that matter, which are generally available for a few dollars over the current price of silver. Still, the set’s price is arching eyebrows with many collectors.
For $149.95, buyers will receive a total of two American Silver Eagles:
- a 2012 Reverse Proof American Silver Eagle, and
- a 2012 Proof American Silver Eagle
Making them further collectible is their production at the U.S. Mint facility in San Francisco. Each coin will, therefore, have a distinguishing "S" mint mark. These coins are also not expected to be sold separately by the U.S. Mint.
What could hurt the two Eagles’ numismatic values is the number produced. A coin’s scarcity will drive up its value. But, the U.S. Mint has indicated that it will produce the special sets to meet demand. There could be hundreds of thousand minted as a result. That fact and the price of the set may hold some collectors back from ordering, but sales should still be spectacular.
Another interesting aspect of the set from San Francisco is its limited availability. The United States Mint has said it will only offer them for four weeks, beginning June 7, 2012, at noon (ET) and ending July 5, 2012, at 5 p.m. (ET).
When the 2012 American Eagle San Francisco Two-Coin Silver Proof Set is released it may ordered through the U.S. Mint online store at http://www/usmint.gov/catalog, or by calling 1-800-USA-MINT (872-6468). There will be no ordering limits in place.
For history about the set and coins, also check out this American Silver Eagles article.