2010 Silver Proof Set

I just put my order in today for the 2010-S Silver Proof Set from the U.S. mint today. I really had a hard time parting with $56.95 for it, but the current silver prices seemed to make the decision a little easier. Does anyone think this could be a low production set, or possibly become a rarity if thousands of them get cracked open and melted?

 

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Yes, I'm thinking it will be a low seller but the rising price of silver may change it. I purchased three sets in September. It is a beautiful set.

 

I've been on the Mints subscription list for over a dozen years for the Silver Proof Set.....and Phil is correct, it's a beautiful set.

 

To me i think they did a better job producing the 2010 sets then all the others. The coins look better then previous sets escpically the quarters with fine strikes

 

anybody know what the approx mintage is going to be on that?

 

I had heard the mintage is currently lower than in mostprevious years, but I also heard that they are going to produce them longer than previous issues. But, of course I have no reliable sources to verify these numbers. The U.S. mint does not furnish us with this kind of info on their website.

 

Below is the last update from Elaine on the mintage of the proof sets. It is only up to 12 October 2010. The 2010 silver proof set is pretty low but sales will continue until the middle of 2011. If sales continue to be slow, it is trending for the lowest year since 1998 and just maybe 1995. I'm thinking that the bad economy is effecting the sales on this one.


2010 clad proof set - 691,441
2010 silver proof set - 372,427
2010 unc mint set - 434,960
2010 presidential proof set - 461,068
2010 clad quarter proof set - 217,054
2010 silver quarter proof set - 193,223


Read more: http://www.cointalk.com/t24699-137/#ixzz14X1gSSBn

 

If the mint plans on keeping it's word about making it's annual products available for sale in January (2011) then indeed this issue (2010 silver proof) could be a lower mintage set. Seems to me that they're going to have to cut off production on the 2010's really soon and start to ramp up production of 2011's.

 

Actually, both scenario's may be the final reality. Only time will tell though.

 

i just roughed out this calculation ... (hope i did the math right!)

Silver Melt Value:
.0723 oz silver in 1 dime
.9042 oz silver in 5 quarters
.3617 oz silver in 1 half dollar
---------
1.3382 oz silver total in the set

with silver at $26.76 oz.

That's a total of $35.81 for the melt value of the silver coins in the set



And let's not forget ... you get an additional 7 non-silver coins
5 one dollar coins
1 nickel
1 penny

so thats
$5.06 in face value of additional coins




So that totals to

$35.81 silver melt + $5.06 face of non-silver = $40.87 in real value




The cost of 1 set is

$56.95 cost per set
$4.95 shipping
-----------------
$61.90 cost of 1 set

So basically you are paying $21 over the silver melt and face of the coins
to hope for an appreciation due to a lower mintage.

That's not too bad

 

My thoughts exactly. I've taken bigger gambles in the past.

 

it's nice that you have 2 ways to win

1. a price appreciation due to rarity
2. if silver hits $42 an ounce ... you have covered 100% of your cost and can't lose.

 

I doubt that these will be melted in any significant amounts. As for low mintage, I would also guess no because it is a first year( for the ATB quarters) , but with the higher price I guess it has an outside shot at a low mintage.

What really miffs me is that the 5oz aren't out yet and with silver ripping, It is going to be a real hosing to buy these. Just bad timing. I'm not sure if the mint is actually making 100,000 of each or just has the option. Haven't seen any yet. This could be the low mintage depending on how they handle that.


LAck

 

I really think that if the legislation authorizing the production of these 5 oz rounds had let the mint decide the diameter of these, they would have been out when they were supposed to be. I work on automobiles for a living, and deal with the same kind of nonsense regulations set by people who know nothing about cars, except how to drive one. If they want cars to be safer, set the standards. Then let the manufacturers meet them. Don't try to tell them how to do it without a degree (or common sense).

 

does anyone know what these 5 oz rounds will look like? is there a photo anywhere?

 

They are just like the quarters but the design is sharper or more relief. They had an article w/photos in a recent coin world. They looked really nice.

Lack

 

Sales figures are listed here http://www.coinnews.net/2010/11/04/us-mint-sales-2010-proof-set-tops-800k-milestone/
Great set can't wait to get mine/ Collected all but the territories my own personal protest as these did not belong in the program IMHO.

 

Yeah, but go to the site where you would purchase them, usmint.gov, and you will find absolutely no images of them at all. Of course, I don't think I'll be purchasing any at the price they will be getting anyway!

 

I just got my 2010 Silver Proof Set in the mail ...and WOW ... it's the nicest looking set i've ever gotten from the Mint.
They did a fantastic job with this.

You cant see it in the photos, but they raised up each coin on a little platform.

 

Looks like this happened ... although i miscalculated a little bit. According to the mint news blog, [FONT=&quot]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. So anyone that bought the 2010 Silver Proof Set at the original issue price of $56.95 is now in the green just on melt value and face of the non-silver coins. Boy was that set a good deal!


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