Silver Prices in 2011 Plunge 9.8% in New York and 8% in London

New York silver rallied Friday but the gain was too little, too late. Silver prices plunged for the week, month, quarter and year.

On Friday, March silver futures settled up 60 cents, or 2.2%, to settle at $27.915 an ounce on the Comex in New York — its best closing price this week. It reached a high earlier in the day of $28.460 an ounce.

But in unmatched precious metals volatility, silver prices spiraled $3.02, or 9.8%, lower in 2011 after soaring 83.7% during the previous year with its 2010 settlement price of $30.937 an ounce. Read More…

US Mint Sales: 2010 Silver Sets Surge, 2011 Sets Slow

Sales were higher in the latest United States Mint sales report for 2010-dated silver sets that remain available, while all but one 2011-dated silver product slowed. As for the commemorative coins that expired mid-month, no update was listed. Last week’s published figures, still shown in the tables below, would appear to close their sales chapter until audited finding are reported way down the road.

With time running down to buy 2010 silver sets, their sales jumped in this report. The 2010 Silver Proof Set advanced by 2,823 following a gain of 1,071 in the prior week. Its newest total hit 583,668, which was still a far cry from the 2009’s 18-coin Silver Proof Set that sold a total of 694,406. The 2009 set, however, included four commemorative Lincoln cent designs. Read More…

Older US Mint Clad and Silver Annual Sets Go Off Sale Friday

Collectors have just a few more days to purchase 2010-dated clad and silver sets directly from the United States Mint. Beginning at 5PM, Eastern Time, on Friday, December 30, 2011, the annual sets will no longer be offered by the Mint as it transitions toward upcoming 2012 products.

To signify the short time-frame in which the affected products are still available, the United States Mint back in October added them to a special "Last Opportunity" section of its online store. That section now contains the six 2010 annual sets slated to be pulled from the Mint’s shelves on the 30th, including two of which contain silver coins. Read More…

2011 Chinese Outlaws of the Marsh Silver Coins Issued

The latest Chinese Outlaws of the Marsh silver commemorative coins have been issued by the People’s Bank of China. Like the previous two releases in the program, the new coins are struck from 99.9% pure silver and are produced to both round and rectangular sizes.

These 2011 commemorative coins feature reverses emblematic of the characters and stories found in the famous Chinese novel Outlaws of the Marshes. The reverses are featured with colored enhancements to highlight the design details. Read More…

Prices Cut on Silver Eagle and ATB 5 Oz Silver Uncirculated Coins

The United States Mint lowered the prices for its numismatic silver coins on Tuesday, December 27. Products reduced in price include the uncirculated Silver Eagle and four America the Beautiful 5 Ounce Silver Uncirculated Coins. Prices for the Mint’s annual sets, however, were untouched.

The last United States Mint price adjustments on these coins occurred on October 7, 2011 after the white metal fell from the $40 an ounce level toward $30.

Apparently, what brought on the reductions was again steadily lower silver prices. The metal’s London fixing has remained under $30 an ounce since December 14, and its latest weekly average was $29.26. Read More…

US Mint Schedules 2012 Quarters Sets, Infantry Soldier and 5 Oz Silver Coins

The United States Mint has offered coin collectors a peek into its upcoming line-up via a partial 2012 Product Schedule published at the bureau’s online store. The schedule, along with several clad releases, lists four different products that are sure to gain the interest of silver coin enthusiasts.

Shown as the first numismatic product release of the year is the 2012 America the Beautiful Quarters Silver Proof Set. According to the United States Mint schedule, the quarters set will have a release date of January 10, 2012. Included as part of the set will be five proof quality versions of the circulating quarters to be issued by the Mint during the year. Those five coins will have a composition of 90% silver. They honor the following five sites of national interest and have designs emblematic of the location on their reverse: Read More…

US Mint 2011 Silver Commemorative Coins Ending Sales Figures

Sales concluded Friday for United States Mint commemorative coins in clad, silver and gold. The latest Mint data reflects a buying spike due to all of the last minute purchases, but ending sales figures were nowhere near authorized mintage limits.

The US Army silver dollars experienced a combined gain of 2,203 after adding 1,694 in the previous round. The new total hit 163,346 or 32.6% of the maximum mintage allowed by Congress. 119,829 of the coins were proof-quality and 43,517 were uncirculated.

For Medal of Honor silver dollars, a larger surge of sales took place. Collectors scooped up 4,935 in all this week, which was more than the 2,731 jump previously. Between their launch on February 25 and their last day of availability on Friday, 157,619 of the silver dollars sold, or 31.5% of their limit. Broken out, 112,850 of those were proofs and 44,769 were uncirculated strikes. Read More…

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