The United States Mint on Friday, February 24, suspended sales of six silver numismatic products, which include five collector America the Beautiful 5 Oz Silver Uncirculated Coins and the uncirculated American Silver Eagle. The US Mint annual sets containing silver coins and the newly released commemoratives, however, were not affected and remained available.
The limited suspension was due to the steady rise of silver in the precious metals market. The white metal tipped the $35 an ounce threshold on the London Fix on Friday when it came in at $35.57. It only settled a few cents lower on Monday at $35.09 an ounce. The United States Mint did not indicate when sales would resume and simply stated the products were "temporarily unavailable for product repricing."
One thing all of the affected numismatic products have in common is their 99.9% silver composition. They include:
- 2011-P Chickasaw 5 oz Silver Uncirculated Coin
- 2011-P Vicksburg 5 oz Silver Uncirculated Coin
- 2011-P Olympic 5 oz Silver Uncirculated Coin
- 2011-P Glacier 5 oz Silver Uncirculated Coin
- 2011-P Gettysburg 5 oz Silver Uncirculated Coin
- 2011-W Uncirculated American Silver Eagle Coin
Suspensions of silver numismatic products were somewhat common last year when silver prices skyrocketed in August and September to the $40 an ounce range. The US Mint suspended and then raised prices of its silver coins and sets when their melt values closed in on the Mint’s listed prices. Then, in late December when silver settled in the $30 and under range, the US Mint lowered the America the Beautiful 5 Oz Silver Uncirculated Coins to $204.95 and the Uncirculated Silver Eagle to $45.95. Whether the Mint adjusts prices this time when the suspension is over remains to be seen.
At the time of this writing, United States Mint commemorative Infantry Soldier Silver Dollars are still available. They are composed of 90% silver and 10 percent copper. Likewise, the America the Beautiful Quarters Silver Proof Sets and the Silver Proof Set are still for sale, as are the 2011 September 11 National Medals, and their prices have not changed.