Free Money!

Just quickly, without too much thought, I'd say that maybe the people who intended to get their sets have done so, and this reflects the fact that since there was no announcement saying when the sets would be ending, that people did not expect these to go this far, and/or people who are collecting silver are sending the message that they think the price still being up there is unrealistic since the price still seems to reflect the pricing that went into it for silver at about 40.00/oz, and silver is down to about 30.00/oz, which is about a 25% drop.

Maybe someone who follows this better can say whether my speculations here are accurate or if I'm just offbase.

 

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OUCH!! :headbang: That'll leave a mark...oh, wait...:scratch: where did it go? (I'm guessing "twins")

Back to coins...I gotta think that sales number was a typo. There's NO WAY nobody bought any 2011 Silver Proof sets in a week!

 

If not a typo, could it be that the end of sales is near? TC

 

oh ok that makes sense then....I went to germany from nov 2n to jan 4th...and til bout december it was a rarity to be able to use the net...thanks for the correction

 

I did some digging and asked some questions yesterday and got an Email this morning from a Michael Zielinski from Coin Update News. He said: "I posted in the comments that the U.S Mint did not provide an updated figure for the week. Sometimes they inadvertently leave something off. If the number is missing next week, I'll be sure to bring it to their attention."

So once again, next weeks numbers should be really interesting. I just hope they provide them.

 

Way to go!!! :hail:

I hope Michael realizes he put me on bed rest for the past 48 hours!!

 

First time poster, this thread sparked my interest. I don't mean to sound dense, but I want to make sure I didn't miss something in the 28 pages of posts. This set has 1.3oz of silver, and $5 face value in non-precious metal coins. At current spot that puts the value of this set at almost $47 ($42 +$5), yet I can buy them on the bay SHIPPIED for $42!?! What am I missing? I realize silver just had a huge day, but still...it doesn't compute. Thanks.

C_

 

If you mean 2010, 2011 sets, I have not seen more than a handful go for less than $55.

 

It's been, what, a few weeks? That didn't take long.

http://www.ebay.com/itm/2012-Americ...Individual&hash=item35b8c033da#ht_1025wt_1165

 

Welcome to CT, Callaway! :hail: (Personally, I'm a Titleist man, but I guess that's a point where we can "agree to disagree! )

As for your other point...you hit the nail on the head! When the thread began, the price of the silver and face value of the non-silver coins were nearly equal to the cost of the sets...and silver was heading higher. When you factor in the cost of the original Government packaging, the Mint was selling the sets at a loss.

The US Mint was shifting their production schedule from beginning in August to beginning in January. That meant that the 2010 and 2011 Silver Proof sets would be on sale at the same time...competing for the same $$$. Couple that with the soft economy and you get 2010 Silver Proof sets with the lowest mintage of any modern era Silver Proof set...by almost 100,000 less!! The 2011 Silver Proof sets could be even lower.

True, nearly every coin in the set can be found in other sets...making the Silver Proof set sales numbers not equal to the actual mintage of those coins. However, that's not true for the Silver Proof Kennedy Half dollar and the Roosevelt Dime. Those coins can only be found in the Silver Proof sets...making the Silver Proof Kennedy Half the new KEY DATE of that series. Only Silver Proof Roosevelt Dimes from 1950-1955 are lower.

So...what does this all mean? It means that if you're a Silver Bullion collector/investor, there's no better investment in the white metal than 2010/2011 Silver Proof sets when you can get them near the current melt price (minus the non-silver coins). The addition of the potential numismatic "upside" is FREE MONEY!!! :hail:

Keep in mind...you probably won't realize much numismatic upside until the economy turns around...but be patient. If you can find 2010 or 2011 Silver Proof sets for sale at $42/set (S&H included)...when silver is $32.25/Oz...You would be a fool not to jump on it!

1,23 Oz of silver X $32.25/Oz + $5.06 in other coins = $44.75

That's $2.75 of FREE MONEY with just the silver! On top of that, you're not just getting a silly block of bullion; you're getting artistically crafted, nicely packaged, unsearched, US Government issued KEY DATE coins!!




EDIT: Sorry...I was thinking about 1960's era Silver (P&D) Mint sets. The correct calculation for 2010/2011 Silver Proof sets is...

1.34 Oz of silver X $32.25/Oz + $5.06 in other coins = $48.25 ...better still!

That's $6.25 of FREE MONEY!! :hail:

 

Thanks for the warm welcome - guess the title says it all. I discovered the disconnect...didn't realize there was a non-silver proof set (blue box) and a silver proof set (red box). I'll have to delve deeper...only bought pure bullion and old junk in the past. These proof sets are new territory for me.

 

:welcome: Callaway29,


Also the Silver Quarters Proof sets, when the silver spot prices climbs back up close to the purchase price from the mint :thumb:

 

I tried to do my own due diligence, but can't find the weight of these coins. I know they are 90% silver, but what's the actual silver content in a set? Thanks in advance.

 

0.9042 troy ounces for the quarter sets.

 

A roll of 90% silver dimes contains 3.618 Troy Ounces of PURE SILVER
A roll of 90% silver quarters or halves contains 7.236 Troy Ounces of PURE SILVER

There are 12 Troy Ounces in an Troy Pound
There are 14.58 Troy Ounces in an Avoirdupois (standard) Pound

With bullion, Troy Ounces and Avoirdupois Pounds (or Kilograms) are generally used.

If a Silver Proof set contains five (5) silver quarters, one (1) silver half, and one (1) silver dime, it contains...

7.236 / 40 X 7 = 1.2663 (the half has the weight of two quarters)
3.618 / 50 = .07236 (one dime)

1.2663 + .07236 = 1.33866 (or ~1.34 Ounces)

The current price of silver is $32.25 so...

$32.25 X 1.34 = $43.22

In my examples, I usually round to the nearest 5¢ so as not to appear overly anal.

 

So the quick answer to your question using Yak's info here. 40 quarters in a roll, 7.236 / 40 = 0.1809, 0.1809 x 5 = 0.9045. So 0.9045 troy ounces of silver in a 2000+ mint silver quarter set.

 

Ooops...(sorry) I misread the question.

The silver quarter sets are about 90% of an ASE.

 

You guys like the hard way, don't ya?

http://www.coinflation.com/proofsets/

Scroll down to get to the proof set you care about.

 

Ooooo, I use coinflation but never noticed that section before...thanks!

 

It's relatively new; I think it has been there for around two months.