Pricing for the collectible 2012-W American Silver Eagle proof coin from West Point is set to return $5 cheaper at $54.95, according to the United States Mint.
Sales of the proof coin were suspended mid-month, shortly after silver prices hit a 2012 low with the London Fix at $26.67. The precious metal has been struggling of late with the latest fixing as of today at 7 cents below $27 an ounce.
Coin news update: The U.S. Mint began selling the coin again at its lower price on the morning of July 25, 2012.
Proof 2012 American Silver Eagles debuted back on April 12, 2012 at $59.95 on a day when the silver fixing was $31.47 an ounce.
Notice of the price reduction is scheduled to show up on the Federal Register tomorrow, July 25, although the United States Mint could return to selling the proof coin before then — it remains off sale for "re-pricing" as of this morning.
When sales resume, it will be $9 more than the uncirculated version. Currently, the Mint is selling the 2011-dated uncirculated coin for $45.95. The 2012 American Silver Eagle Uncirculated Coin is scheduled to go on sale at the same price at 12 Noon ET on August 2, 2012.
The Making American History Coin & Currency Set, which contains the same type of proof as the currently suspended one but with a minting at San Francisco and a "S" mint mark, goes on sale a few days later on August 7, 2012 for $72.95.
This year there are five versions of the Silver Eagle:
- 2012 American Silver Eagle bullion coin (annual issue)
- 2012-W American Silver Eagle proof coin (annual issue)
- 2012-W American Silver Eagle uncirculated coin (annual issue)
- 2012-S American Silver Eagle proof coin (unique to the Making American History Coin & Currency Set and 2012 San Francisco Proof Silver Eagle Two-Coin Set)
- 2012-S American Silver Eagle reverse proof coin (unique to the 2012 San Francisco Proof Silver Eagle Two-Coin Set)
All versions feature the same designs — an obverse featuring Adolph A. Weinman’s "Walking Liberty" and a reverse of John Mercanti’s Heraldic Eagle with Shield, symbolizing strength and endurance.