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WOW!!! Just checked PM prices...somethings happening. Gold down $130 in two (2) days! Silver down $4.50!

 

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I do wonder if the Mint will be allowing the purchase of 2010s now that the spot price has dropped.

 

Spoke too soon, they are back on the market. I'm going to call them and see if I can change my order to the 2010s and hold out for the 2011s. Signs of a reprice on the 2011s will show and I can always buy then.

 

Word of warning to those who are interested in the 2010 silver proof sets. Silver has gone up, so I think they will be suspending sales again.

 

Just did my part to ramp up the very sales we would like to tail off...good luck to us!

 

I doubt that the CT sales volume will affect total sales much...I wouldn't have started the thread if I thought that. I just hope everyone on CT gets in on (what I think is) a really good deal! :hail:

 

I received 5 2011 silver proof sets this morning (delivered by UPS - they phoned me to say they had arrived since I didn't answer the door). The mint needs a clean room for packaging these - two of the sets have dust/threads between the coins and the holder so I need to decide if I want to return those sets for replacement. And I just ordered 6 1020 sets. Thanks to you and BullionBully for the heads up.

 

I wouldn't be so worried about the lint and stuff, look for scratches and flaws. Coin collectors, or rather the more serious/numismatic ones usually have them graded. The thing with the mint is if you choose to return or exchange one item, all of it has to go back. I would suggest putting in another order and then cherry pick them and return the unwanted. You lose out on return shipping but it's better then sending back good sets that you've seen in person.

 

Wheres the best place to buy the 2010 silver proof set, and the 2011 silver proof sets? And what would be an average buying price?

 

When you talk about having them graded is it separately so you break out the set) or as a set that you send in like that?

 

Currently, the US Mint. The prices are set for now unless there is a spike on spot silver and they pull it for repricing. After they stop selling them, that will be the real question as to where the better buy would be. You can look on eBay but usually they are around the same price or higher.

I've never sent a coin into grading, but I would think you could send it as a whole and they will remove the coin for grading after you specify what you want graded. After all, they do offer first strike grading in which the unopened package is shipped to them for grading. You get everything back in the mail.

 

Since I'm more interested in bullion than numismatics, I don't know which numismatic sites are going to be good. The two sites I know of are EBay and the US Mint (http://catalog.usmint.gov/webapp/wc...ctId=15253&langId=-1&parent_category_rn=10211). The US Mint is charging $64.95. Shipping is $4.95, but you can buy several sets (up to 10?) and only pay $4.95 for shipping. In order to decide which is best, you need to decide why you are buying them and how many sets you want. If you are buying them for the bullion value, and don't care about the numismatic value, and only want one set, EBay is probably the best (on the other hand, in that case, you probably should buy the silver quarter proof set, and not get all the extra non-silver coins). If you are buying a lot of sets or care about the numismatic value (if, for example, you want the proof silver dime and half-dollar to sell to a collector), it would be better to buy from the mint: EBay isn't that much lower, and all the additional shipping will end up costing you more. In addition, most of the sets on EBay will have been picked over, so you aren't likely to get the higher graded coins (which is also probably why it costs less on EBay).

 

Basically, you send in what you want graded. Assuming that you having less than 100 coins graded, PCGS charges $14 per coin for grading (plus shipping). If I wanted the silver coins graded, I would send in the plastic container containing the silver quarters and the plastic container holding the penny, nickle, dime, half-dollar, and dollar, and indicate which of the coins I wanted graded. The other coins would come back in a plastic flip.

 

Thanks, I am new to this, and didn't know how that worked. BTW, I am getting 2 sets of the 2010 Lincoln coin cover, which puts in 2 business strike dollar coins on a first day cover, that were struck on the first day of minting (D + P), and has a limit of 37000 covers. It was IMO reasonable for that, and of course, I am hoping to see one or more great quality (high MS) coins in there. My question is does anyone think it worthwhile to then send that to a grading service and have it done up with first strike also? I would think that down the line, it may be more valuable as a slabbed coin than in the set. I picked this one because of it being Lincoln, which I think will have longer lasting appeal than other presidents. I would love to hear people's opinions.

 

I just managed to place another order for Ten (10) 2010 Fourteen coin Silver Proof sets for $64.95 (each) from the US Mint. :hail:

 

Yay! Very happy for you! :thumb::thumb::thumb::thumb::thumb::thumb::thumb::thumb::thumb::thumb: (10 thumbs up for you, one for each set).

I did 4 the other day.

 

I'm pretty certain that the drop in silver was triggered by the drop in gold, which was triggered by speculation that they would increase margins (which they did) on futures trading.

 

Just to make sure I understand this correctly: the Mint can produce the 2011 coins and sets until the end of 2011, but they will still be selling them long after, right?

 

Correct, but keep in mind that they CAN but won't produce too many sets unless demand is great. Whatever they can't sell by the end of the year has to be destroyed because of the month to month changes for the sales. It's questionable if they will continue to the end of Jan 2012 even though it should end on 2011. Keep in mind, this is the only year where the sale of two annual silver proof coin sets have overlapped due to the month to month sales change.

 

The US Mint September 13, 2010 Press Release offered few details other than to say, beginning in 2011, the US Mint Annual products would be available at the beginning of the year instead of later, around the August time frame, as they had been over the previous decade.

Subsequent articles on the web and in print have quoted the Mint as saying they plan to continue selling the 2010 annual sets throughout 2011 or until a sellout occurs. To the question of when the 2011 annual sets will go off sale, I've seen no firm date. I would expect the Mint to end sales either at the end of 2011 or when the 2012 sets are released (likely around the end of January 2012)...of course, the Mint can (and will) do most anything they like.

I feel confident that...

1. The 2010 Silver proof set will go off sale on or before December 31, 2011
2. As silver approaches $43/Oz, sales of the 2010 Silver Proof set will be suspended pending a price adjustment
3. As silver approaches $45/Oz, sales of the 2011 Silver Proof set will be suspended pending a price adjustment

This past week saw a brief sales suspension of the 2010 silver sets, but sales quickly resumed without a price adjustment as silver fell below $40/Oz. Silver is back to $41.40 and there's rumors of QE3 in the air. Additional suspensions and possible price hikes are not out of the question.

Silver Proof Set sales over this past week were anemic. As of August 30th...

2010 Silver Proof Set sales: 338 for a total of 571,897
2011 Silver Proof Set sales: 2,173 for a total of 450,242

The lowest mintage of any modern Silver Proof set was 1995 (679,984). The average weekly sales figures that are needed by the end of the year (17 weeks left) to equal that mintage are...

2010 Silver Proof Set: (679,984 - 571,897) / 17 = 6,358
2011 Silver Proof Set: (679,984 - 450,242) / 17 = 13,514