Should the Mint lower the Price on the 2011 Silver proof Eagle & Grand Canyon "P" ATB

The price of silver has declined to below $35, should the US Mint adjust the offering prices of the Silver coins to be sold next week: Proof Silver Eagle & 5 OZ Grand Canyon ATB coins?

What's involved in adjusting the price of a Silver coin and why doesn't the prices adjust with the Spot market like Gold and Palladium?

 

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I would say yes, they should, but no, they won't. There is really no need for them to, as the first three have each sold out in about 2 weeks. As they are a business, they will sell them for whatever the market will bear. Also, the quality of the coins has seemed to get better with the release of each subsequent coin. Add to that the fact that many collectors are in it for the entire set of 2010 coins. As this is more of a numismatic piece than a bullion piece, the correlation to the the spot price of silver is not that much of a factor.

If we do see a price decrease, I think it will be with the release of the 2011 coins, as there is probably not as much collector commitment there and, therefore, not as much demand.

 

I will agree with our previous poster, but add the fact that the acquisition cost of the silver was most likely much higher when the five-ounce silver blanks were purchased from the fabricator.

 

I agree with the first reply, but challenge onecenter's statement about the price of the blanks... Actually if you look at the graphs on Kitcos website silver was less then $30/oz in early December when the bullion coins were slated for release. Seeing that it took some time to work out the bugs of the 3" dimensions - More then likely all the blanks were acquired earlier that year when silver was less then $20/oz.

If they wanted to, they could easily lower the price.

 

Right now you can buy either the 2010 or 2011 US Mint Silver Proof Sets, but the 2011 is $3.00 more on the mint website.

 

The Mints should publish a Silver Pricing Matrix similar to the ones used for their other precious metal coins. This would adjust the price for the Mint's Silver products so that they move with the market. The Mint could maintain their margins and allow the Public a fair price for their products.

The Mint is not adjusting the price of their silver products quickly enough to reflect changes in market conditions. This is unfair to either the Mint or their customers.

I just noticed a 2010 PCGS PF69 Silver Eagle that sold on eBay for $42.

That was a really low price, but with spot @ $33.66, the $59.95 asking price for the 2011 Silver proofs seems too high IMHO.

The 5 oz. ATB bullion coins are selling for about $100 below the Mints asking price for the Grand Canyon coin to be released latter this week.

The Silver proof Sets and Silver Quarter sets also need a price adjustment to reflect current market conditions.