2012-W Proof Silver Eagle Coin Off Sale for Repricing

2012-W Proof Silver Eagle

2012-W Proof Silver Eagle

Collectors have not had a chance to purchase the 2012-W Proof Silver Eagle coin for the last few days. The U.S. Mint took the one ounce, 99.9% fine silver coin off sale, with its online product page saying that it is "temporarily unavailable for product repricing."

In calculating prices for its numismatic products containing precious metals, the U.S. Mint closely watches London bullion fixings. In the case of silver, when it falls or jumps significantly, the bureau tends to take certain silver coins and sets off sale. In some cases, the products return at new prices and in others they come back at the same price when silver stabilizes.

On Thursday, July 12, the London Fix for silver fell to $26.67 an ounce, marking its lowest point in 2012. The level was $4.80 below the price of silver when the 2012-W Proof Silver Eagle coin was released on April 12, 2012. Silver rallied on Friday and actually finished higher on the week, suggesting that the Silver Eagle will likely return at its same $59.95 price. The only question is when. Past suspensions have last a few days to several weeks.

The 2012-W Proof Silver Eagle is one of the Mint’s most popular products. Sales as of July 9 show that buyers have scooped up 489,265.

No other U.S. Mint products have been taken off sale.

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