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2013 US Silver Set Prices to Fall as Coin Melt Values Drop
May 21, 2013 by Darrin Lee Unser · Leave a Comment
Four silver sets from the United States Mint are slated to be reduced in price according to a memo from the bureau.
Above are three of the four silver sets from the United States Mint that will see lower prices, possibly as early as Wednesday
This move is undoubtedly in response to a silver market that has fallen to levels not seen since 2010, and that has dragged down melt values of US sets and coins.
According to the US Mint, the 2012 and 2013 US Mint America the Beautiful Quarters Silver Proof Set, the 2013 US Mint Silver Proof Set, and the 2013 US Mint Congratulations Set will all be re-priced. Effective date for the change is not yet known, though it could happen on Wednesday. (This article will be updated when the new prices are live.)
Update: The United States Mint on Wednesday, May 22, reduced silver product prices to the new amounts shown below. This happened by noon ET.
Silver prices have steadily declined in the last few months. The precious metal has lost over $10 an ounce from where it was in January. Recent trading has fallen below $22 an ounce with the London Fix for silver on Monday, May 20, 2013 coming in at $21.66. The last time the metal traded at or below that price was in late September of 2010. Silver in London did bounce back a bit on Tuesday.
According to a US Mint notice scheduled to be published in the Federal Register on Wednesday, May 22, 2013, the new pricing for the four affected products is as follows:
| Silver Coin product | Current Price | New Price |
|---|---|---|
| 2012 United States Mint America the Beautiful Quarters Silver Proof Set | $41.95 | $36.95 |
| 2013 United States Mint America the Beautiful Quarters Silver Proof Set | $41.95 | $36.95 |
| 2013 United States Mint Silver Proof Set | $67.95 | $60.95 |
| 2013 United States Mint Congratulations Set | $64.95 | $59.95 |
The 2012 and 2013 Quarter Silver Proof Sets each contain the five America the Beautiful Quarters produced for that year. Each is struck at the US Mint’s facility in San Francisco and are composed of 90% silver, giving the individual sets a total silver weight of 0.904 ounces and a melt value today of about $20.38. The 2012 set was originally released on January 10, 2012 with the 2013 set debuting on January 8th of this year.
Those same five 2013 silver quarters also appear in the 2013 Silver Proof Set which was initially released on May 2, 2013. They are joined by nine other coins to represent the entire circulating coinage of the nation for the year. Of those nine coins, the Kennedy Half Dollar and the Roosevelt Dime are also struck from 90% silver. Total silver weight of the product is 1.34 ounces which gives it a melt value today of about $30.16.
Finally, the 2013 United States Mint Congratulations Set made it inaugural appearance on April 30th. Found in the set is one 2013-W Proof American Eagle silver coin that is produced at the West Point Mint. Silver Eagles are composed of one ounce of 99.9% silver.
This is not the first time this year in which the US Mint has opted re-price some of its precious metal products. Sales of the 2013-W American Eagle Proof Silver Coin, 2012 US Annual Uncirculated Dollar Coin Set and the 2012-P Chaco Culture ATB Five Ounce Uncirculated Silver Coin were all suspended in April before they returned at lower price points. In addition, gold and platinum products have seen price adjustments several times this year.
