Spot Silver Prices vs. US Mint Prices vs. Market Prices

[Broke-Daddy]

Are we getting our money's worth?

 

The last time I could afford to purchase a monster green box was in 1998, costing me a whole $3,300 with the Dealer's mark-up and shipping. Those of us who have been around for a while remember Spot Silver prices vs. US Mint pricing before the start of the 2006 inflation.

 

In 2000, with silver still at under $5/oz, an OGP proof silver eagle sold for $24. Factor in about $2 per unit in production costs that's approaching a 350% return for the Mint. But consider that production totals were usually just 50 to 75k. At the same spot price, the MS eagles (with dealer markup) cost $120 per roll!

 

On June 6, 2005, Spot silver was at $7.50/oz, and a 2005 NGC MS-69 ASE cost $49, a PF69 - $75

 

On June 6, 2012, Spot silver was at $29.50/oz, that same coin is still priced at $49! A PF69, still $75.

 

Therefore, Is it worth it to buy OGP from the Mint, and send the coins to be certified? It was then - It ain't Now! For just a couple of bucks more, we can pick up a MS or Pf-70 silver eagle from the dealers.

 

Today's dynamics are much different; Bullion Silver price at 5 times that of 2005, yet the coin market has failed to keep up with that multiple (Thank God). Would you like to pay $250 for a 2005 MS-69 ASE? Of course the exception to those ratios comes into play with the Special Issues, i.e.: the 2006, 2011, and 2012 Anniversary Sets. We've all seen how these Sets and individual Set coins have increased in value dramatically. Those who are still complaining about the Spot vs. Mint price ratio, "Knock it off"~ It is, what it is!

 

In 2011 there were 10 silver eagle issues, including varieties. As Silver Eagle Collectors, we "suck it up" and pay the price, to keep our sets up to date. It would obviously be easier and less costly if the US Mint limited issues to the production of just the bullion Mint State and the Proof coins each year as before, with an occasional special issue eagle coin. My frustration peaked when the Mint announced the possibility of continuing the trend by possibly issuing multi-coin ASE sets, and a Reverse Proof issue annually! As much as we all enjoy our sets, is more better- or is it just More?

 

I'd like to see the US Mint put a new face on the silver eagles altogether, as they've done with the Gold and Platinum issues, at least for the special issues. How about a "D" Denver Mint Silver Eagle, that would make things interesting.

 

Regarding the latest (SF Mint 75th) Set, at $75 per coin, with a Reverse Proof, Don't think -- Just Buy It!

 

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