Higher Melt Values Trigger US Silver Coin Price Hikes

The United States Mint suspended sales of several silver coins Wednesday, October 3, through Wednesday, October 10, due to their higher melt values.

2012-P Hawaii Volcanoes Five Ounce Silver Uncirculated Coin

The 2012-P Hawaii Volcanoes Five Ounce Coin was one of the U.S. Mint products that had its price raised due to higher melt values

When sales resumed, prices for the thirteen affected products were higher by $5 for every ounce of silver they contained.

Sited for the temporary halt was the consistently high price of the white metal since late August. The U.S. Mint will not sell collector coins below or close to their melt values. In a memo, the U.S. Mint stated that higher coin prices were necessary, "because silver has been trading in a range of $30.00-$35.00 per ounce since August 23, 2012." The high point occurred on Tuesday, October 2, when the precious metal on the London Fix hit $34.85 an ounce.

By the time sales resumed on October 10, the London Fix had silver prices back down at $33.79 an ounce.

Only certain collector American Silver Eagles and all of the available uncirculated America the Beautiful Five Ounce Silver Coins were targeted by the U.S. Mint. A table below shows the affected items, their pre-suspension prices and their current prices.

US Silver Coin Product Pre-Suspension Price Current Price
2012-W American Silver Eagle Proof Coin $54.95 $59.95
2012-W American Silver Eagle Coin $45.95 $50.95
2011-W American Silver Eagle Uncirculated Coin $54.95 $59.95
2012 Annual Uncirculated Dollar Coin Set $204.95 $229.95
2012 Uncirculated Hawaii ATB 5 Oz Silver Coin $204.95 $229.95
2012 Uncirculated Acadia ATB 5 Oz Silver Coin $204.95 $229.95
2012 Uncirculated Chaco ATB 5 Oz Silver Coin $204.95 $229.95
2012 Uncirculated El Yunque ATB 5 Oz Silver Coin $204.95 $229.95
2011 Uncirculated Chickasaw ATB 5 Oz Silver Coin $204.95 $229.95
2011 Uncirculated Vicksburg ATB 5 Oz Silver Coin $204.95 $229.95
2011 Uncirculated Olympic ATB 5 Oz Silver Coin $204.95 $229.95
2011 Uncirculated Glacier ATB 5 Oz Silver Coin $204.95 $229.95
2011 Uncirculated Gettysburg ATB 5 Oz Silver Coin $204.95 $229.95

 

Check out current melt values for American Eagle coins here and melt values for the America the Beautiful coins here.

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