If Silver Price keeps rising then keep your eyes on the 2010 Silver Proof Quarter Set

The 2010 Silver Proof Quarter set (5 quarters) from the US Mint contains 0.90423974724 oz of silver. It also contains a nominal amount of copper by value so I will ignore that. I will also ignore any future numismatic value on this set. You can order these from the mint with very little overhead, little risk, and they don't add a penalty for credit cards. Price of these coins does not change.

A bullion Silver Eagle of course contains 1 oz of silver. However it can only be purchased through a dealer which first has to add the mint surcharge and then their own profits to the price of silver. i.e. the price of this coin is determined by spot + markup.

So, if you buy 10 silver proof sets from the US Mint, your cost is this:

• $334.45 (includes shipping)
• This is for 9.0423974 troy ounces of silver
• Cost/Oz = $36.98

If you by 10 Silver Eagles from Apmex (Ag = $27.38/oz)

• $345.10 (includes shipping & CC charges)
• This is for 10 troy ounces of silver
• Cost/Oz = $34.51

What happens to Silver Eagle if Ag rises to $30/oz

• $372.11 (uses Apmex surchg/coin of $4.19 + shipping)
• Cost/Oz = $37.21

This is a $2.47/oz difference this weekend with the Silver Eagle still a better buy. However, the 2010 silver quarter proof set begins to become an interesting option for bullion investors if prices continue to rise If silver rises to ~$29.50 then the 2010 Proof Quarter set breaks even with the Silver Eagle in this example. When Ag = $30/oz, then the 2010 quarter set is clearly the better deal.

Of course there are many ways to slice this deal, but it's an example of why bullion investors should watch fixed prices for numismatic products. Of course if this happens, expect the US Mint to announce they have sold out of the 2010 set as they did with 2009 a few weeks ago when the silver price exceed their price for the set. (6 quarters for less)

IMO, I will add that one should expect some better than average numismatic value on this 1st year of a 10 year series. Series collectors love the silver quarter sets because it allows one to participate in the hobby at relatively low cost.

 

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Someone wrote a thread a few weeks ago (maybe it was you) regarding the 2009 territorial state quarter proof set in silver being sold at below spot. Testament to the number of cointalk folks (or someone else figured it out) but those sets sold out that day. So!!!!! If you want a 2010 - silver set - get it now!

 

I don't think we're quite there yet. APMEX and Gainesvillecoins both have ASEs for less than 32 bucks. It may not take long though. I have a couple of the silver quarter sets in the subsription sets I buy for the kids every year.

 

Not when you add in their other overhead to order from them. For 10 coins, APMEX weekend price is $34.41/coin. It's explained in the OP.

 

So it would seem, I guess reading really is FUNdamental.

 

I have a feeling the mint will either suspend sales or raise the price of Silver Proof Sets if the silver price starts to creep up to the spot values of the set. Prices for the Spouse series gold commems were adjusted as gold began to climb.

 

Fatima, I agree with your analysis. I noticed the same thing.

 

Just for fun, here is what you get in Silver if you buy the full 2010 Silver Proof Set. This set includes the Kennedy 1/2 dollar and Roosevelt dime in 90% silver (the only way you can get these coins in silver) which brings the total silver in the set to 1.33827482592 troy ounces. The set also includes the nickel, the new shield penny, and 4 presidential dollars and the Native American dollar. Cost is $56.95.

Thus if 10 are ordered:

• Cost = $574.45 (includes shipping)
• Adjustment = -$50.60 (I'm subtracting out the face value of the 5 abomination dollars and remaining coins. You can always spend these at your liquor store for some booze.)
• Total Cost = $523.85
• You will have 13.3827483 troy ounces of silver
• Cost/Oz = $39.14

As you can see the cost/oz of silver is a bit higher. However this assumes that you only get face value for the abomination dollars and the penny and nickel. For a litle work you might get a higher return on them. I do however expect that over time to see a substantial numismatic value on that Kennedy 1/2 and maybe some on the dime. There are people who collect these each year, and this is the only way to get them.

Of course if you are strictly a bullion buyer, silver will have to rise a bit more before this calculation works for you. If however there becomes a shortfall of silver, this might be one way to acquire some.

 

I just received my 2010 Silver proof set last week. I have no intentions of, nor could I break the set up. It is a beautiful set, and as silver climbs, seems to be a better deal. There were complaints last year of the hefty price tag.

 

This set has now become a very attractive buy. It's my recommendation that if you want a set or two or three or many, you might want to think about placing an order. It's my prediction that a sell out is close at hand.

 

You're right. I've been putting it off longer than I should have -- I'd be really disappointed if it sold out before I could order.

 

Just ordered 10 sets of these 2010 silver quarters! Wish me luck but with spot prices today above 30 it makes all the sense in the world!

 

Good point. I've read that some of the early gold presidential spouse coins have already been melted. There will be some fantastic rarities with the lesser known presidents but the issue is still demand.

rono

 

Reading this thread got me digging around the mints website and I am surprised that noone has mentioned the disabled veterans silver dollar. At $35.95 each I think the ratio comes out even better then the quarter set if it is a 1 oz coin (can't seem to confirm this on the mints website or ebay - little help?)

$35.95 * 10 = $359.95 + $4.95 S&H = $364.90/10 = $36.49/oz

As I said correct me if I am wrong - but seems to be a better deal... only 7 days left... better hurry
http://catalog.usmint.gov/webapp/wc...ctId=14829&langId=-1&parent_category_rn=10141

 

Thanks for the reminder.

 

Indeed. That disabled veterans dollar is a very good buy at prices now. It's a shame this coin is as ugly as sin, but for bullion investors that can be over looked. It ought to eventually have a little numismatic value. The equivalent silver eagle paid for with a credit card will cost you a bit more at Apmex.

 

Sorry to burst your bubble, but the 2010 American Veterans Disabled for Life Silver Dollar is not a 1-ounce silver coin. It is 26.73 grams and 90% silver (the same as a Morgan). Hopefully nobody bought these for the bullion as there are much better buys out there for this amount of silver.

 

You are indeed correct, thanks for the info. From the US Mint:

American Veterans Disabled for Life Silver Dollar - Coin Specifications:
Weight: 26.73 grams nominal
Diameter: 1.500 inches (±0.003) or 38.10 mm (±0.08)
Composition: 90% Silver; 10% Copper
Mintage Limit: 350,000 across all product options

So as it stands, the 2010 Silver Quarter Proof Set remains the best deal out there.

 

we will. thanks.