Today, July 2, the U.S. Mint notified customers via email that it will increase prices on all its silver collector products, with the exception of the 2024 commemorative coins. The rise in the spot price of silver and other associated costs was cited as the reason for the price hikes, which will take effect on July 9.
Silver is currently trading at around $29.73 an ounce, compared to approximately $23 an ounce a year ago.
New Mint prices have yet to be announced, aside from the uncirculated Morgan and Peace Silver Dollars launching on the 11th. Their prices will be $91 apiece, up $15 from the previous $76. Each coin is composed of .999 fine silver, with a silver weight of 0.859 troy ounces.
Typically, new or updated prices for U.S. Mint numismatic products are first published in the Federal Register, the official source of notices by government agencies and a daily journal of their proceedings.
The main body of the U.S. Mint’s email notice is as follows:
Price Update for Morgan and Peace Silver Dollar Uncirculated Coin Subscriptions
Due to the rise of the spot price of silver and other costs, the United States Mint is raising prices on all numismatic silver products effective July 9, 2024, except for our commemorative coin program products.
As a loyal customer, we wanted to notify you this will impact the price of any subscriptions you have for the Morgan or Peace Silver Dollar Uncirculated Coins which go on sale July 11, 2024. On July 11, the Morgan and Peace Silver Dollar Uncirculated Coins will go on sale for $91.00.
Update (July 3, 3:35 p.m. EDT): On Wednesday, the U.S. Mint announced (via another email) upcoming price increases for a wider range of its silver numismatic products, detailed further below.
Earlier on Wednesday, the U.S. Mint published a press release announcing the July 11 release of the uncirculated 2024-P Morgan and Peace Silver Dollars. Ironically, the press release notes that their prices will be $76 each, instead of the $91 announced on July 2nd (as shown above) and reiterated later today in the latest Mint notice. (Update #2: July 3, 4:11 p.m. EDT: The Mint revised the press release with the updated $91 price.)
The body of the new U.S. Mint "promotion" email follows:
Purchase your Silver Coins and Medals before July 9!
Due to the increased price of silver and other costs, the United States Mint is raising prices on all numismatic silver coins and medals effective July 9, at 12:00 am ET, except for our commemorative coin program products.
We recognize the impact this will have on our loyal customers which is why we are notifying you now so you have the opportunity to click on the links below to purchase currently available products at today’s lower prices. Please take advantage of this offer before prices increase on July 9, 2024.
For your awareness, we’ve listed the current and future prices for our silver coins and medals.
American Eagle One Ounce Silver Proof Coin (W)
Current Price…………….….$80
Price Effective July 9……….$95American Eagle One Ounce Silver Proof Coin (S)
Current Price…………….….$80
Price Effective July 9……….$95American Eagle One Ounce Silver Uncirculated Coin (W)
Current Price…………….….$76
Price Effective July 9……….$912019 American Eagle One Ounce Silver Enhanced Reverse Proof Coin (S)
Current Price…………….….$90
Price Effective July 9……….$1052019 American Liberty 2.5 Ounce Silver Medal
Current Price…………….….$175
Price Effective July 9……….$242.50American Liberty Silver Medal
Current Price…………….….$82
Price Effective July 9……….$97America the Beautiful Five Ounce Silver Uncirculated Coin
Current Price…………….….$380
Price Effective July 9……….$455Limited Edition Silver Proof Set
Current Price…………….….$220
Price Effective July 9……….$255United States Mint Silver Proof Set
Current Price…………….….$130
Price Effective July 9……….$150United States Mint Congratulations Set
Current Price…………….….$82
Price Effective July 9……….$97American Women Quarters Silver Proof Set
Current Price…………….….$80
Price Effective July 9……….$95Morgan Silver Dollar Proof Coin
Current Price…………….….$80
Price Effective July 9……….$95Morgan Silver Dollar Uncirculated Coin
Current Price…………….….$76
Price Effective July 9……….$91Peace Silver Dollar Proof Coin
Current Price…………….….$80
Price Effective July 9……….$95Peace Silver Dollar Uncirculated Coin
Current Price…………….….$76
Price Effective July 9……….$91Morgan and Peace Dollar Two-Coin Silver Reverse Proof Set
Current Price…………….….$185
Price Effective July 9……….$2152024 Liberty & Britannia Silver Medal
Current Price…………….….$89
Price Effective July 9……….$104Armed Forces 2.5 Ounce Silver Medal
Current Price…………….….$175
Price Effective July 9……….$225Armed Forces One-Ounce Silver Medal
Current Price…………….….$75
Price Effective July 9……….$90Presidential Silver Medals
Current Price…………….….$75
Price Effective July 9……….$90
$91 a coin. Just got email. Just cancelled subscription.
Me too
I enjoy coin collecting but they sure are making it tough. Maybe eBay will have them cheaper someday.
That’s one way of putting it, Ken, and rather mildly so at that. I think it’s gotten to the point where a lot of opinions about the Mint aren’t nearly as kind.
I agree 100%…
I don’t believe I’ve had the honor. Welcome to the site, Joey.
There is history to support that, Ken.
Yes….go to US Mint website today and get sticker shock for silver offerings….seems like it would be the the death knell for the Mint.and nearly half the year remaining….yes, collectors ,(including myself) have been hitting eBay in hopes of getting a better deal before sellers can reprice their products accordingly….some may be willing to try to take a little less to make a sale….
I did the same, J S. It looks to me like someone maybe inadvertently did a $6 increase over the 2021 Special M & P Uncirculated price of $85 (back when everyone thought it was a one-off that justified the higher price) — instead of the 2023 current price of $76 (for what’s now an annual offering). That would make a little more sense. Regardless, even $82 would be too much for me for an Uncirculated.
No accidents at the Mint, Major D, except perhaps those around the presses. I think we can bet our bippy that price increase was planned down to the cent.
Yes, you’re right Kaiser. $15 increase across the board for all Proof + Unc Morgan and Peace, 1-oz ASEs and even the 1-oz Am Liberty. I did not get any list in my email, but I see the article included it, which I did not bother to read at first.
One of your biggest and very positive attributes, Major D, is that you consistently call it as you see it. Whether or not you are in agreement with whatever you are reacting and/or replying to does not in any way appear to influence your ultimate judgment. You certainly are quite the straight shooter extraordinaire, my friend!
Now that you mention it, Major D, I didn’t get that notice either even though I’ve signed up to receive it for it god knows how many times by now on my multitude of visits to the Mint’s website. I wonder what gives.
Did the same.
Same here. Now if we can just get Kaiser to stop buying PM coins, we’d have a genuine revolt going on against the mints pricing structure! Can’t wait to see what prices the ‘coin shows’ will be asking.
I call these “fantasy Morgans…” Mint should have done the 100th issue and ended it there…planning on putting the cost of the pair into a nice 1894 O (certified) Morgan in XF40….
That’s what I’m doing as well. although I’m buying some nice graded CC Morgans (not the one’s with the privy mark). I don’t know what Gibson is smoking at the mint, but it must be high grade ganja! Are there any opinions on how long it’ll take for the mint to sell 550,000 M/P dollars at $91.00?
I too canceled ALL of my Subscriptions! Should have been a one and done issue. As usual, the Mint is ruining this hobby, with too much and too many!! I’ve even sold my 2021 PCGS FS & FDOI sets. I’m NOT even interested in the ‘21’s anymore. I do NOT like the “finish” first of all! They look Fake, why not produce them with the “regular” uncirculated look (cartwheel) or like the ASE? Silver mint sets are ridiculously priced now. I’m going to stick to Gold! I’m waiting for the Flowing Hair, saving my money for it! That will be… Read more »
AKBob,
I was planning on also buying the FH Au coin, but with these new prices in place for PM’s, I’ll have to pass and maybe pick one up in the secondary market after all the hoopla has passed. Paying $3500-$4000 for an ounce Au coin makes no sense to me. I’ll just have to be content with perusing my older Au coins for the time being. Cheers
I see, Craig, that you had already anticipated this very possibility. It does seem that henceforth all bets are off at the Mint.
But AKBob, isn’t there a very real possibility that the Mint will have pulled the same or an even more outrageous stunt with their gold pricing by the time that Flowing Hair coin is released?
AKBob,
I read that as “running this hobby”, but in effect that is the same.
It depends, Craig, if they sell them all straight-out legit or dump a good number in a fire sale to their closeted authorized purchasers.
Wait, that’s it, this is where all the Mint’s money is going, to be able to keep a goodly supply of Ms. Directoress’ “holy smoke” on hand. It’s also likely the reason for some of those utterly cockeyed ideas regarding what the most favorable direction it would behoove the Mint to be headed in going forward, especially like ignoring any and all requests, wishes, pleas, needs and/or dreams of the coin collecting public.
Couldn’t agree more, Foxman69. One and done would have shown more class.
Craig,
It’s interesting you brought that up, Craig, because Der Kaiser happens to be about a nanosecond away from issuing an edict to himself to stop buying any more silver from the Mint. While I am aware that prices are also going up elsewhere in the economy also, I can’t help but think that the latest price jumps at the Mint are meant to make up for profit losses in other Mint categories such as those due to both the ongoing “cent drain” and the far too slim premiums on bullion products.
Mr. Dsn here. Yes the Government stoled all of the gold in 33,and all the silver in 64 now they want to.sell it back to you for more than 5 time’s what it’s worth. Good luck guys. I’ll just hang on to.my old Morgan and Peace dollars.
Dannie, I couldn’t agree with you more about the government having engaged in what amounts to some rather serious chicanery regarding the personal property of the American people – those who not so incidentally pay the way courtesy of their taxes for all of those institutional bureaucrats – in both 1933 with gold and in 1964 regarding silver. These days so much of that precious metal wealth sits in vaults that aren’t even subject to inspection and/or verification by the very citizenry that this government allegedly “works for.” I suppose it’s another fine mess we’ve gotten into (with apologies to… Read more »
I’d add that nobody currently living has had their silver and gold confiscated by the US Government. Any adult in 1933 would be 106+ years old right now. Secondly, the Mint’s change of metal content for circulating coins in 1964 did not take coins from anyone’s pocket. However, the masses did pick all of the silver out of the circulating coins. People are buying PM galore, so what is the fuss about exactly?
There is another way to look at that, Major D. The gold that was confiscated in 1933 was compensated for by the Treasury at a statuary $35 an ounce, but past that point the government allowed the price to ascend to whatever the market would bear. This meant that all those who had traded their gold for paper were now out the difference as would in any case be their heirs. Regarding the removal of silver from circulating coins in 1964, that essentially deprived the everyman of any remaining sense of owning any of the nation’s precious metal wealth. The… Read more »
Sorry, Kaiser I don’t buy into it. People with money were (and are) always able to invest, whether gold or other things. No one was/is deprived of investing their money. And I’d say the old money has done quite well for their heirs. I still find silver quarters and silver dimes in bank rolls today– more than I’ve found W’s. The everyman was free to pick out and keep whatever silver they found from the circulation before and after 1964. There’s no confiscation or deprivation. As for the earlier time, there was a Great Depression going on where the everyman… Read more »
Well, that’s true, Major D, I can’t argue with all those points there. I think what I’m really talking about when you get right down to the bottom of this is that same old story of the (these days once again widening) wealth gap which is a phenomenon that likely has been with the human race since day one and will remain with it until the very end of its time on earth.
Spot on, and I won’t add anymore to the discussion.
I’m trying to be good.
It’s not always easy to be on our best behavior here, and I will be the first to admit that I do have the occasional slip-up. That being said all we can do, as you say, Rick, is to try our best.
Actually, the government bought the gold at almost face value ($20.67). Once they had it all, they raised the price to $35 an ounce. When gold went back to available to the public in the 1970’s it was still initially $35 and ounce, it just wasn’t so easy to get a hold of back then, plus a lot of people didn’t know they could buy it (no internet) until the Mint started offering gold coins in the 80’s.
Many thanks for the correction, VA Bob, and my apologies to all for having provided the incorrect details in the first place. I will have to remember to conduct a thorough google search before I make any more of these premature pronouncements.
NP, cheers.
We need Laurel and Hardy today. “Another fine mess you’ve gotten us into’…timeless and classic!
Hear hear and amen to that!
Kaiser, I thought you’d enjoy that post. It seems to me that those ‘other costs’ referenced in their email was a way of saying they had to upgrade their staff to account for the DEI ideology rampant in government these days. They then had to spend tons of money retraining them (Boeing ring any bells) and how to pay for this…soak their customers. It doesn’t sound like anyone here buys the ‘silver spot price spike’ line they are peddling. At todays Ag spot price of $30.69, there is $26.36 worth of Ag in the M/P dollars. My question is: if… Read more »
Craig,
Enjoy it? I loved it! And hey, just as I’m often given to saying there is more than one side to any issue, just think about what an amazingly great thread the Mint has handed us thanks to yet another one of their uproarious upsettings of the coin buyer’s/collector’s applecart!
Kaiser,
So you reside in Massachusetts you lucky dog. I love seafood and lobster is right up there with steamed crabs. Maybe it’s a good thing I don’t live there as eating lobster every day might result in a poor figure. Go enjoy a lobster roll (don’t forget about your wife) and have a great 4th of July!
Craig,
I do consider myself very fortunate, which is evidenced by my now having spent 58 of my 77 years here. The Bay State is the equivalent of the “Goldilocks zone” for me: not too large, not too small, not too hot, not too cold, not too urbanized, not too wild. I love it! And as far as the seafood goes, it’s my favorite on any menu, so I’m right at home in that regard also. Pahk the cah in Hahvad Yahd and have a wonderful Fourth of July!
Cancelled subscription. Will not buy anything directly from Mint with their current pricing scheme. 2/3 of cost being premium for crappier packaging.
The question remains though, Greg, whether or not the Mint even cares it is in the process of driving its numismatic customers away, or looking at it in an admittedly even more cynical manner, is it in fact even trying to do so?
Greg,
Do you recall the days when the coins came in beautiful sturdy clamshells?
Craig,
I can’t help it. I’m STILL laughing about this!
Same here… prefer to get a nice slabbed 1894 O in xf40 for about the same money
Coin shops are the best way to go. I find good quality coins at reasonable prices.
Daniel marinucci,
Honestly, I can’t remember the last time I even saw a coin store in my particular neck of the woods.
Where’s your neck of the woods? There’s always coin shows.
Good question, MarkInFlorida, and it just so happens to be Massachusetts, and no, I’m not at all pleased with nor happy about the badly thought out reality of ours being a currently set upon “sanctuary state”. As far as going to coin shows, we’re not exactly the capital of those either nor am I all that enthused about nor even comfortable with travel at this point in my life.
You can’t stack em too deep. The Government will swoop in and take what they want. Where Are you Donald. My friend
OMG better start hoarding food and ammo!
“Send lawyers, guns and money, the shit has hit the fan.”
– Warren Zevon
.
Ditto. Mint must learn its limitations on fleecing the collector.
According to Dirty Harry “A man’s got to know his limitations” but for the life of me I can’t remember him saying anything in that regard about the U.S. Mint.
Ditto J S, cancelled my subscription too. Ridiculous Mint doing this to its customers.
Darn it, Chris Terp, and here I thought all along I was buying my coins from a different place entirely but it was in fact the one and only Ridiculous Mint all along. Sure explains a lot, but couldn’t you have told me sooner?
Also not even a full troy oz. These have NO numismatic value so why buyers pay stupid money to get them graded is well, STUPID & as the saying goes ” Ya can’t fix stupid “
Me too
A man of decisiveness and action, J S; good for you!
Mint crossed my red line. A significant price hike so close to the 2024 Morgan and Peace coin release feels so slimy. Like a personal slap to my face by unelected bureaucrats. Made my business decision easy.
An excellent choice for an obviously valid reason, J S. Speaking of unelected (or for that matter just as likely any other) bureaucrats, I once spent a few days in Prague when it was still behind the Iron Curtain. The single biggest impression I got there was that no one seemed to care about putting even the slightest bit of effort into their jobs. When I asked our very surprisingly and uncharacteristically honest Czech tour guide and minder about this phenomenon he explained that in a society where a person is tasked solely to occupy a space rather than provide… Read more »
Particularly slimy was I had talked to the Mint mere days before this price debacle, Reason? Noticed I was “double” subscribed for the ‘24 Unc Morgan and Peace coins. For some reason. Not two orders of two coins each. But four subscriptions for one coin each. Let’s say it was due to “my bad.” So, they deleted subscriptions to one coin each – but said squat about, “Oh, FYI, price hike in a couple of days.” I have to believe they knew price hike was just hours away. Bottom line: I escaped buying four, $91 coins. Goodbye, Mint. And bureaucrats.
J S,
That’s an unsettling series of events that you just delineated but it seems you clearly were able to dodge the bullet and straighten things with your account out prior to any harm being done, which in the final analysis is all that really matters. As far as what the Mint would tell you regarding their imminent price increases, I might suppose the customer service folks were instructed to avoid precisely that topic unless perhaps confronted directly about it by an already clued-in customer.
Sadly, that is often the case right here. Especially in the 25-35 age group no matter the field. Many don’t even try to hide it, to look busy, nope.
I can’t deny, Rick, that I became aware of that phenomenon throughout my working years, and regarding those I am referring to a period going all the way back to 1967, so it is clear this lack of ambition among certain age groups (and other sorts of cadres) is not in any way a purely recent development. The modern era has somehow developed a culture of the expectation of big returns for very little if any effort.
I did the same
Lets see, at .859 ounces per coin that’s $5.78 more for silver. Boy those other costs must have really gone up a lot. It reminds me of the margarine producers that say the increasing price is due to the increased cost of vegetable oil regardless of whether it is a 45% or 25% oil spread.
Kia99,
Call it inflation; only about 19.7 % from last year.
I cancelled my subscription today. What a money grab
Look out for all of the retroactive pricing to occur for silver products– whatever prior years that are still available will get a price increase, too.
Anyone thinking about buying any available M & P or ASEs may want to do it before July 9.
Or, if you have access to a time machine, go back a few years, but quickly!
So I’m thinking, should I cut back? I remember in 1994 when the price went up and sales went down.
The price for the coins shot up and are still up there. Maybe an expensive gamble but if demand drops, value in the future will rise for a low vintage, key date. Always something to consider. When I do sell, I’ll get my money back and then some. Decisions decisions.
Antonio, I’m thinking maybe it’s a good time to buy some 2024 ASEs at the current prices before they go up. If anything, maybe the Mint’s increase will raise the price on the flip.
The 2024 W-Uncirculated ASE with the new clamshell for $76 is looking pretty good right about now.
Issue price will be I believe @$91 each
Release was on June 6. Available now through July 9 @ $76.
Yup I was off, had Porgan 1$ on the mind. No way burnished ASEs have no legs in the aftermarket….
Major D and Antonio,
It’s really all a bit of crapshoot now, gentlemen. On the one hand we could jump in full tilt while believing higher prices will result in lower sales and eventual better returns, or we could keep our distance due to being convinced that higher prices will mean less interested parties all around with a resulting drop in secondary market prices. You plays the game and you takes your chances.
Kaiser, I tend to believe that in the end its a rising tide that will increase the resale on all of the prior similar products that you bought at lower Mint prices. In other words, a 2023 W-Proof ASE bought at $80 will now resell for between $80 and $95 after July 9.
Major D,
Alright, I can be persuaded to buy into that. A truly positive angle!
If I were you, and speaking from a tad bit of experience on this, and just a friendly reminder with a realistic angle…
Do not count your Chickens just yet.
Quite frankly, Rick, these days I tend to not count anything but my OCD repetitions regarding everyday tasks, so I’m covered.
For the M and P ill buy this years and see how they go. Ive STOPPED ALL my other subscriptions because of this…..no more proof sets clad or silver, no more ASE coins. I didnt even bother with this years commemratives…..NADA. the pricing structure on silver coins is oppresive to even buy them anymore.
The brakes, Domenic Vaiasicca, are being applied early and often everywhere these days. It appears our collections will henceforth grow more slowly if at all.
Soon, everyone will all wake up, realize what has happened here, and go back to the classics. Just a matter of time.
Cheers
This also looks to be a classic case of Demand Destruction? And Cag approved. Phase 1: High Prices = Lower Demand = Low Mintages… Phase 2: Low Mintages = Higher Demand = Even Higher Prices. Full Circle. Many similar cycles over time. The Spouse Gold(not 2007)are slowly approaching phase 2. Especially the Full Sets… PS: I’m on a Classic hunt in part right now I believe? While not exactly ‘old’ classics, some of the Kennedys on your list might just spike in demand when people realize that in ’26 and beyond the gig is up–and the Circus begins. Instant Kennedy… Read more »
Rick,
Last week Bullion Exchanges Company in New York City was offering the Proof and Unc. First Spouse coins at $19.99 per coin over gold spot.
NumisdudeTX
Thanks Seth, I did say ‘slowly’ approaching…Should’ve said sloooowly!?
Yes, I’ve seen that from APX, etc. years back at $650 ea. but they were all capsuled only, fingerprinted, scratched junk from pawn shops it seemed. Those that you mention are part of the spot bullion cycle that exists with these forever culls. Many are the same coins being recycled over and over because of spot. Yes, some ore in OGP too. And yes, I’m exaggerating a bit..
What I’m talking about is the limited selection of trouble free coins and the high graded coins.
Rick, what you wrote/described(FS Au) is not an exaggeration IMO, as you pretty much, “spot on” and nailed it, to a T. Unless, making a bullion play, I suggest one buy the FS Gold coins, only in MS or PF 70, as yourself, E1 and AK Bob have consistently advocated for, when buying modern Mint products on the secondary market.
CaliSkier, Rick, Seth Riesling and E 1, If you’re ever looking for a coin site that is consistently countless times more over-priced than Littleton, super-extravagantly more full of absolute B.S. than is Magic Mike at his finest (worst?), and one whose unbelievably suspicious offerings would make a junkyard dog’s scritch-scratched lucky coin look like a numismatic masterpiece, then etsy is the one and only store for you. It’s the only place I’ve ever seen where dirty old pennies which have quite obviously been picked up off the street are being sold for amounts ranging into the thousands of dollars and… Read more »
Hey Rick, I still hunt the 67 $ gold $21/2 so far I couldn’t help myself and got a 64…..0h, search for CC classic gold these days. So far 1, I went thru all my JFK sets 3…no proof like. 81s Morgan is very Common, especially in higher grades and PL. Real jump in slabbed CC and GSAs. I did break down & get some of the Morgan & Peace restrikes, Morgan looks very digital, Peace is awesome tho….
Cag says….Hi!
Howdy Cag! I hope you’re still the Hammer as opposed to the nail getting beat down… John I still look at MS66-67 $2.5 Libertys and the spot effect isn’t really a factor. What is a factor is the black and red spots on some of them. Anything pre-33 in MS is good. The better dates even better… $2.5’s on hold because of the L&B and the crazy quest on building a 66+ CAC Morgan set = broke, won’t happen anytime soon. I have about 20 though, not bad…GSA’s are on the radar, but mostly for good coins in bad holders… Read more »
Rick, JQC,
I still like how my co-worker got his $2.5 gold. It probably isn’t MS anything. Most likely XF-AU. He found it out of a Coinstar machine reject slot. Free gold coins are always good. I’ve been checking Coinstar reject slots, I usually don’t even come up with the foreign coins which I would still be happy with.
No way!
You never know!?
Everytime I get a coinstar reject it’s my own 1C zinc covered in white rust and road rash. I end up spending it. I tossed one in the trash too. I suppose I could just leave next time and re-gift it lol.
i always check Coinstar. Great pull a Quarter Eagle! I once found so much it filled every pocket of my jeans. Lots of Ag, Canadian is, seated dime, some Morgan’s, unreal. Usually , Pesos, Chinese and Turkish stuff huh….Az tax tokens!? Lately nothing…. Cali can hit the Denver Mint change machine and get Patsy Mink deluxe. Rick, indeed there is spotting even on some 67s. The one Inwas late on was spot free.
I would guess that for almost every Hammer there is a corresponding Sledgehammer so that not being a Nail isn’t enough.
Rick, You ask big questions…….. . Cag had his merits. I did like the guy but, sometimes things seemed a bit monolithic. As in “monolithic columns of uninviting gray mass.” This site already does that for us with mintages and it should. So, let us learn together here brothers. Lets keep things: interesting, valuable, fresh, to the point, and to a medium. Pictures are great; numbers are great, tables are great, and the commentary has been great too. So has been the humor and the group think. This is a good blog. Also, I would like to see some TPG… Read more »
Excellent post E1!
E 1,
Since I know it would be disingenuous for me to say I couldn’t have written all that any better, my friend, instead I’ll be forthright and admit there is no way I could have said it as well. Kudos for that one!
Yes E1, Cag approved does not equate to Rick approved. And since I was making a statement with a question mark instead of all the hapless whining going on around here I thought it was worthy of some feedback, so thank you for that E. And good points made about the blog livelihood, etc. Great narrative on that.✓⇈ I had a paragraph here in this spot on my take as to exactly why the USM prices are climbing with a solid case. I chose to save it for another time. Besides, everybody has their own version of price hikes and… Read more »
Oh come on, Rick, how am I going to enjoy my liver without a fine whine?
True I must admit, how about a side order to compliment ‘your’ Liver along with the whine?
It won’t be until I get the results of my upcoming liver ultrasound that I will even know if my organ is fit for consumption. Wait…have we reverted to being cannibals now, and this as a result of the Mint’s latest price shock?
Love the half always seek out @ the bank. Used to get a lot of 40% not lately, did catch a ROLL of 2022s!!! Bu
Kaiser,
You should enjoy this one.
PSE 90J – Mint Never Hinged JUMBO.
Purchase Confirmed.
Cheers.
E 1,
What a very beautiful stamp, and jumbo and never hinged at that; quite the coup!
Not to mention that the Graf Zeppelin was a rather spectacular airship and that’s an impressive depiction of it indeed.
Kaiser,
Thats a nice Zep.
Zeps are amazing. The lithograph quality cannot be denied.
Don’t forget about this Zep gentlemen IMO, this is a really good 1!
As you know, CaliSkier, that’s a depiction of the Hindenburg tragedy; great cover, fabulous album and a horrific history. And so it goes.
Thanks, E 1. There is definitely something special about the way they made practically all postage stamps “back in the day’, and not just in the U.S.A.
I think the Zeppelins were a nice alternative to ocean liners. It’s a shame the operators of those impressive German airships didn’t have affordable access to helium; hydrogen was always a disaster waiting to happen.
The Graf Zeppelin series Scott # C13-C15 have been a hole in my collection of early airmail stamps. Sort of like my “goal” coin, the 1935 Old Spanish Trail Half. It isn’t that I can’t afford it. It is just I’m not budgeting for these items. Also it is something I might keep in a safe deposit box which would definitely lessen my enjoyment..
VinnieC,
There is always that darned conundrum about how to own a collectable of substantial value and keep it accessible yet secure simultaneously.
I like to keep the digital high resolution images on my PC and the authenticated item locked away. I do the same with my coins too.
Virtual enjoyment accompanied by peace of mind. I like it!
Kaiser,
Works for me.
Zeppelins’ Beautiful! These classics are dirt cheap these days. Of course, XF Nh always sells. US stamps still buy a few niche items but the market is still hibernating. One day, too bad in China a lot of kids have stamp collections, Europe, US NFTs….
JQC,
I believe the certified high-grade market for early US Airmail Stamps and EFOs are alive and well. “The Educational Series”, the “Industrial Era” and the “Special Delivery Series” are also of interest too.
E 1 and John Q. Coinage,
I would be hard pressed to bear witness to any real difference in the passion for their respective hobbies between a philatelist and a numismatist.
Stamps will teach you the importance of centering. Now apply that discipline to coins. Most coin collectors overlook centering and yet it is critical to the 70 grade.
Aha. And this is precisely the sort of info I’m only now gathering thanks to participating here on coinnews.net. I think I’m ready for my close-up, Mr. De Mille! 🙂
As stamp collector I even more of a cheapskate. I take the Whitman coin folder approach and trying to build set. When a particular stamp gets pricey, I go after the poorly centered specimen to complete my set for an economical manner. That gives me a little more to spend on EFOs. Ironically an error in the stamp world is a variety in the con world. A freak in the stamp world is an error in the coin world. Locally the coin and stamp dealers have one joint show. There is some good natured ribbing between the two. One coin… Read more »
Thanks for all of those stamp to coin aspect comparisons, VinnieC. While I began as a stamp collector, now that I’ve grown accustomed to coins for so many years I don’t think I could see myself ever going back. As for philately, it does sound like a practice that should only occur behind securely locked doors.
VinnieC,
EFOs. Yes. Always looking and buying.
Scott 2541. Double Beak.
Cheers
E 1,
You are certainly an ongoing source of surprises, my friend!
I’m still trying to catch the Right Side up 2016 C3a reissue….. they’re out there. I learned more collecting stamps as a kid then I ever did I. K-12 it seems….hated math so that’s out kids
JQC,
I’m confused about the 2016 C3a reissue. The issue was intended to be an inverted Jenny and the error issue was a non-inverted Jenny? Is that correct? Also, they are a self-adhesive, so is it a whole sheet or nothing?
Doesn’t help that they upped the mintages. So higher supply and higher price? Think the Mint forgot the basics of economics.
I don’t think they ever knew them.
Craig and Tony,
As you said earlier in this thread, Craig, as long as people are willing to buy the Mint will keep on selling, prices and mintages be damned. Essentially, a prime example of the law of supply and demand in all of its glory.
Well, I gave up cigarettes thirty years ago so I guess I can give up the U.S. Mint products now. Some still buy the cancer stix and some will continue to buy the mint products. My brother had triple bypass surgery and was smoking again a week after leaving the hospital! Eight years later he’s still over a pack a day. So I understand if some just can’t get away from the mint. I still drink a can of Coca Cola daily. That’s my little vice. So it’s back to the basics for me – searching circulating coinage for free.… Read more »
DAVESWFL,
I gave up alcohol thirty-six years ago but I do believe I might to some extent be addicted to coin collecting, or at least I seem to be finding it very difficult to part with. Perhaps it’s simply because numismatics is as good as drinking is bad, but still, if I’m finding the endless shenanigans of the Mint so overwhelmingly obnoxious then it might behoove me to do something about the detrimental parts of this too.
Kaiser I’ve been or was a USM customer since 1968s proof sets returned. I fished a Coin World (note AI rewrote CW name 2x…hmmmm) anyway mint shenanigans w website, V75 scam, pricing, BS 4am product drops, even Enhanced rev ASE they mistakenly listed, no claw back SOLD to the RyderCooler….. I’m out still kick the tires, but from a guy who spent a fortune there, it’s DEAD to me, even that Flowing hair, likely $3,500++++
There’s no question, John Q. Coinage, that we as Mint customers who just so happen to be coin collectors are now experiencing a widespread feeling of betrayal and disappointment regarding some of the Mint’s recent shall we say less palatable moves. Unfortunately, that being said I’m not really sure how important, relevant or impactful it is to the Mint that some numbers of us are either seriously cutting back on the number and size of our purchases or abandoning the Mint altogether. I tend to believe that with circulating and bullion coinage being the big dogs, so to speak, on… Read more »
I too cancelled all of my silver M & P silver dollar subscriptions. I have cut back my purchases with the U.S. Mint drastically this year, and now with this major silver coins/sets price increases, I will only buy one silver Proof set and two AWQ silver Proof sets, one AL silver medal and not much else in the silver category. The Mint is out of control. Even charging over $50 for a copper-nickel commemorative half dollar…These prices are Insane!! Thanks so very much Madame Ventris C. Gibson for “Connecting America Through Coins” – overly-priced coins! Certainly out of reach… Read more »
Possibly ironically so, Seth Riesling, while the Mint’s Silver Coin prices have certainly increased and rather excessively at that, the two most egregious price spikes have to date been for the Bronze Medals and the Commemorative Clad Half Dollars.
Yepperdoodles Kaiser on the ridiculous bronze medal pricings now.
Gubmint gone wild w/these price increases. Cancelled my M & P subscriptions.
I suppose, ChrisTerp, the quadrupling of Bronze Medal prices was but a harbinger of things to come. Whether one considers that development to have been merely another wake-up call or in fact a serious shock to the system, we are now seeing that was just the beginning and what is occurring now will rather likely not be the end. Hang on for a wild ride!
And now I just got an email from the Mint stating all silver coins and medals going up in price July 9th (commemoratives will keep their same pricings).
Disappointing that the Mint is doing this. Guess they want to get out of the coin collection business.
What amazes me the most about this currently ever lengthening thread, ChrisTerp, is that our fellow site members’ reactions to the Mint raising its silver coin prices rather dramatically are so totally all over the place, ranging all the way from ending their relationship with the Mint forever to claiming that nothing noteworthy whatsoever has occurred.
Guess the “citizens” on the Mint’s advisory committee are rubber stamp yes men going along with these increases.
The Mint is clearly hungry for and not shy about asking for a lot more money and the committee is just happy to be there to help them collect it. A win-win for them, a lose-lose for us.
I find your comparison to clad commemoratives particularly poignant, Kaiser! In 2014 one could buy a curved silver baseball hall of fame coin for the price of this years clad commemoratives. Even in 2016 the silver proof commemorative was $45, compared to $54 for a clad commemorative in 2024.
Kia99,
I was wondering how many if any others had noticed that particularly inappropriate price increase. That much for a base metal coin; ridiculous!
Kaiser,
You are so very right on the money, on this issue, so to speak. I think the U.S. Mint thinks bronze & copper-nickel are precious metals now! Lol.
NumisdudeTX
Seth Riesling,
I’m still scratching my head about that one; it just doesn’t seem to make any sense on any level! It could be as simple as milking us for everything.
Kaiser,
That’s what happens when you put a woman in charge of the mint…..a sexist would say. I was thinking with the upsurge in ‘newcomers’ showing up everywhere, maybe the money pot is drying up and someone suggested ‘hey, lets see if we can supplement some of that cost by fleecing the mints buying public’. Money doesn’t grow on trees.
Ok, money doesn’t grow on trees, but it’s made out of blank metal planchets. We’re talking the Mint here- it literally makes money! But as the saying goes, it costs money to make money. The Mint’s numismatic product revenue is in a real pickle, if you looked at the spreadsheet that I posted you’d see that the W-Proof ASE is down 37.6% in unit sales from last year and down 49.7% from two years ago. The W-Unc ASE is down 18.9% from last year, and 38.3% form 2 years ago. The silver Amer Liberty medal is down 53.5% from last… Read more »
Bingo again, Major D. I’m willing to bet dollars to donuts the Mint’s price increases for clad products are just around the corner.
If you’re a newcomer to the US then money does grow on trees.
There’s been a handful of female Mint directors over the years.
However those past Directors didn’t have the luxury of a free pass based on zero merits, or their DNA data.
Amen Rick! I get what you’re actually saying and I won’t tell anyone what exactly you’re saying! It’ll be our little secret!
AKBob and Rick,
I think it’s totally hilarious but absolutely imperative we carry on some of our exchanges in code here now. Better safe than sorry!
Craig,
It appears that at this point the powers that be could make an appointment of a “they/them” to head the Mint and it wouldn’t make a bit of a difference, unless of course they had all-employee races in the Mint’s new Olympic-size indoor pool.
Seth, When the mint raised the price of the silver proof set to $105 and $130, I downgraded to the AWQ silver proof set, but I’ve been sort of sporadic on that. I wonder what the prices will be after this current increase $150 or $160. I might go for the 2025 set before what people have been describing as the Kennedy “circus” rotating reverse design. I might go for the 2026 semiquincentennial set too despite the mintages probably being really high (like 1976—I think you can still find the silver 3 coin set for a reasonable price because of… Read more »
VinnieC,
I believe you may just have gotten the Mint’s hopes up a bit just now considering your disclosure of your proposed purchasing plans. That’s okay though; those poor put upon precious metal product purveyors needed a lift!
Hey Seth, with everyone here by-and-large canceling (albeit a very small sub-poll) it will be interesting to see the opening week numbers for the Morgan and Peace Uncirculated. Likely it will be buoyed by pre-sales, but do you or anyone here care to hazard a guess? My guess is 160,000 each even with the increase.
I think you’re being too optimistic with 160,000 of each being taken. I’ve been saying for a while the numbers being pressed are too high to make these a ‘desirable collectable’. If you’ve been following financial trends lately, a large % of individuals are strapped by high housing, insurance, food, fuel, health, and let’s not forget about CC interest rates. I’m upgrading my windows this year and the finance company will charge me 28% on the unpaid amount after 13 months. 28%! I get to pay for the windows over this time period with zero interest charged, which is a… Read more »
I’m interested to see what happens. I expect it to be higher, then have a big return the following week by those with subscriptions who missed hearing about the increase or missed changing their subscription. We won’t have to wait long as the release is on the 11th, which means the first sales report to show will be ending on the 14th. And for anyone on the fence, the subscription modification deadline is fast approaching: 5 days prior means Fri the 5th 11:59 PM EDT.
Odds are the largest returns, Major D, will come from the pre-buyers.
I am also curious about how many of the coins will be returned (by the Big Boys..not burger joint) because they didn’t grade out well. That’ll take a little longer though.
With that 28% interest rate waiting for activation, Craig, I think you might want to add that finance company to the already more than sufficient array of scammers, grifters, bilkers and usurers out there.
I know, Kaiser. One would think you could get better terms from your friendly neighbourhood mafiosa contact. I had to laugh when I saw the rate after 13 months…I thought the 1st house mortgage I took out, at 13.5% interest, was bad enough.
Major D,
I’m finding the whole pre-sale gambit to be fascinating in the manner in which it impacts not just current Mint sales but also future secondary market prices.
Glad I fired the mint a couple o years ago. $91….3x spot+……. If u like it buy it, Ag @80 maybe a profit even….PA$$
John Q. Coinage, a man clearly ahead of both the curve and his time. Bravo!
Here a new one for me. Posted, and comment appeared as usual. Saw a one word addition of the word “not” was needed. Used the edit feature and when I went to save and the comment was flagged as “SPAM”? Sizzle, Pork And MMMmmm… Guess perhaps it will show up? Thankfully I saved it before I posted, unlike the one I lost the other day in a reply I was trying to post to Ricks Lucy Hayes Gold coin comment. I navigated away briefly, then returned to a Coin News advertisement and my comment I was working on, vaporized into… Read more »
CaliSkier the SCRAM/SPAM picture you posted reminded me I used to collect Wacky Packages too.
If you want to be somewhat more Zen-like regarding that event to help ease up on your blood pressure, CaliSkier my friend, it might be useful to remember that algorithms tend to have a mind of their own. Just sayin’. By the way, I just love that meme of yours; it did in fact take a while before I realized that can did not say “Spam”. 🙂
2nd try. More BS from the Ventris influenced US Mint. So now, I’m going to ask again, for any out there that’s been buying US mint products or publishing articles(Coin-News, -World, -Week Numismatic News, etc), or any others that have requested information from the US Mint, via a FOI submission, What in the Hell happened to announcements of any price changes, being published or announced in the Federal Register? What has changed, that, that part of the process, is no longer a part of the process? How about a $380 5oz Ag coin vs the $229, which had been the… Read more »
CaliSkier,
Excellent summary of the complete and utter failure of the Mint to maintain one of the equally essential legs of its mandated “chair”, that of the coin collector himself. The Fed gets its circulating coinage (including the throwaway cents), the Authorized Purchasers get their bullion, the dealers get their advance numismatic purchases, and we, what do we get? Well, there’s really no denying it; we get the shaft.
So, Kaiser, the US Mint has decided to “take” a page and flip the script, from the modern(2000) “John Shaft”, when he says, to the affect? “You know me, It is Ventris’s duty, to “abscond with”, vs please your(that) booty”. Or, perhaps they now are ok being Pirates, as the Beastie Boys, rang out in “Professor Booty”? “Professor, what’s another word for ‘pirate treasure’?” “Well, I think it’s ‘booty’. Booty, booty, that’s what it is.” Perhaps everyone still shopping for newly released US Mint products, should follow advice from the Beastie Boys and “Check Your Head”? Just saying…
CaliSkier,
I can really groove on your post-post-modern free form poetry above. Of course my just having said that shows how much gray matter dyspepsia all this verkakte Mint pricing business has left me dealing with. If you don’t mind, I’ll quote Guns ‘n Roses yet again, “Where do we go, where do we go?”
In the immortal words of Guns ‘n Roses, “Welcome to the jungle!”
Rick,
I was gonna buy this coin tonight. It is a great coin to own. An insane specimen. One problem, it has a “-13” ending its serial number. This is bad mojo for a lot of different occupations and some people as well. Including me. But, the coin is great. Reholder it under a new purchase order number with a -1 and you will have a money coin.
It’s a very nice coin and what an awesome Matte finish. I have 2 and this strike is in my top 3 next to the ’14 Enhanced and the ’18 & ’19 Rev PF coins. The 62,000 Mintage tops it off so well. If it bugs you that much on the #13 just skip it, there’s more out there. I did a little digging. The pricing is a bit high but fair enough, but only to cover some of the eBay fees. Cac has it valued at $360 as well as Greysheet retail. Since CAC is fairly new to the… Read more »
I wouldn’t have a problem buying it. The seller may clarify the existence of a jowl anomaly, or not? It wouldn’t be a big enough distraction for me to reject if it were there…
70’s are never truly perfect.
I’m gonna hold out and maybe grab a silver commem flowing hair this fall.
I too cancelled my subscriptions but…..
The Mint wins regardless, they’ll just offer them for sale for the next 10 years until they are sold.
Or… after sold out and folks invest in slabbing them, they’ll open up the sales again pulling the rug out from us like Brittianias.
Horrible!!!
Mint motive thinking –
Just maybe the people at the mint have recognized the extinction of the middle class being replaced by the very wealthy and the very poor. Thus, there are more individuals who CAN pay exorbitant prices for numismatics even if the old timer collector base disappears. It’s the only logical reasoning I can make. But then who ever accused a governmental agency of being reasonable?????
DaveSWFL,
The rich are buying bullion and art with their money. Much greater appreciation in art than in mint items. I have no idea what’s going through the minds of those in charge of the mint. I was wondering if the mining entities are having difficulty extracting PM’s out of the ground because their EV’s can’t work as efficiently as fuel powered engines. Who knows these days. Anyway, I’ll sit on the sidelines and watch how this all unfolds.
No, the rich are buying real estate.
Major D and DAVESWFL,
Or, the rich are purchasing very expensive real estate and subsequently filling their massive living rooms with extraordinarily pricey art and their super secure basement vaults with loads of gold bullion bricks. Hoooahhh!
Aside from how this may or may not affect the Mint with regard to its pricing structure, there is a great deal of truth in your depiction of the widening separation between the haves and the have nots and the middle class gap growing between the two sectors. Today if you can’t climb up you’re likely to slide down as there is no longer sufficient financial gravity to hold a formerly expansive middle class in place.
1st of 3 in succession: After an inquiry to Rosa Williams(US Mint) back in January 2024, regarding: “Subject: 2024 Federal Register Notice “Prices of Liberty & Britannia 24K High Relief Gold Proof Coin” & ATB 5oz Numismatic Silver Coin Pricing” “Hello Rosa Williams, I’m writing to inquire, as to the missing information for Federal Register Notice, “ [FR Doc. 2024–01093 Filed 1–19–24; 8:45 am]” which pertains to the US Mint Pricing Range Table and notice re: the “Prices of Liberty & Britannia 24K High Relief Gold Proof Coin on the “2024 Pricing of Numismatic Gold, Commemorative Gold, Platinum, etc and… Read more »
Her(Rosa Williams) reply: “Good Afternoon CaliSkier “The correct link for the pricing grid is https://catalog.usmint.gov/on/demandware.static/-/Sites-USM-Library/default/dwa1c07e02/images/PDFs/2024-Pricing-Grid.pdf. The federal Register Notice is being corrected to show the correct link. Thank you for bringing this to our attention. The price for all ATB 5oz products was set at $380 in late 2023 to sell the remaining Vault Sale items. The price of silver increased and the 5oz product was set to correspond to the amount of silver in it with respect to our other silver products. The American Eagle One Ounce Silver Uncirculated Coin is $76. Please email me if the… Read more »
Unfortunately 3 of 3 hung up, “Awaiting Approval”. Please
approve Coin News/Mike Unser.
Thanks,
CaliSkier
Cali,
The phrase “beating a dead horse” comes to mind! There is ZERO accountability for anything this government does. Time to find better uses of your time.
You might consider contacting the Congressional Oversight Committee members and your Congressman and Senators. If they can’t get anywhere, then you know you’re playing against the house.
Yeah but, DaveSWFL: “You see I’ve been through the desert on a horse with no name” Circumnavigation attempt: 3of6 My follow up response to Rosa Williams), of whom never replied. I sure wish Mike Unser, Louis Golino, Darrin Lee Unser, Charles Morgan, Michael Alexander or someone of the like, would make an inquiry and publish an article on this topic??? I wrote back(on 1/30/24 & followed up w/another try on 2/6/24): “Thank you for your time, as well as efforts to seek out the answers to the information, I’d asked for Rosa! By chance, are you able to elaborate further?… Read more »
Cont: 4of6 “For the 2023 Cyber Monday Vault Sale, silver was at approximately $23.50/oz. This is about $2.00 less per ounce, than at the time of initial sale(4/8/21), of the 2021 Tuskegee Airmen 5oz coin and so an actual decrease in the price of silver. The price of silver, was essentially about the same, approximately, $23.50 at the time of the October 8, 2020 Federal Register notice, establishing a price of $229 & at the time of the 2023 US Mint Cyber Monday sale. Not an increase in silver price?” “So, if possible, can you answer, how was the US… Read more »
Oh well Coin News has made this task of posting this lengthy diatribe more challenging than it’s worth to fill in the blanks and compile the thought/e:mail exchange w/the Mint. Over it, for now… $105 was when I decided that the value for a Silver Proof set was no longer palatable. $130 became a “No Way” and whatever the next price or prices, becomes an absolute, w/o a doubt, “NO Freaking Way!” Classics, secondary market price reductions/discounted prices on previously issued Mint products and circulation coins only! No more fresh off the press or new issues for me. Strait from… Read more »
CaliSkier, you are clearly not alone based on the magnitude of comments here (over 200!). And I’m all-in on secondary market/reductions/discounted prices. Speaking of which I recently bought some 2024 partial silver proof sets at $55/set. They have the box and coa for the full set but only the silver quarters. So, I figured I could assemble the missing pieces and flip it for a profit. Well, then I started added up the parts– $55 for the quarters I just bought, the 2024 clad proof set is $35 from the Mint (to use the clad cent, nickel and dollar), then… Read more »
Major D,
The obvious market for your inadvertently overblown composite sets are unfulfilled 24 hour Magic Mike addicts.
CaliSkier,
That well balanced and down to earth analysis gets the Fair and Sensible Commenting Award for today. Kudos!
The pricing at US Mint is like the Bradford Exchange or Franklin Mint….. ripoffs and scams
Here is what I mean – For collectors this will net the same effect – you pay an absorbent price to acquire and when it comes time to monetize the collection (usually after death) someone is looking at it and realizes it isn’t worth the money originally paid….
Tony@GA,
A price above rubies, but much akin to that of diamonds.
How many of each of these coins are going to be minted, I have the 2023’s and it was only 400,000 I have the deep cameo…
Joey, the mintage + products limits are 275,000 each for the uncirculated (24XE and 24XH); 300,000 each for the proof (24XF and 24XL); and 262,500 for the reverse proof set (24XS).
Thank you sir; I’ll have another.
With all the uproar about the price increase, I checked my e-mail. I checked my SPAM folder. I never even got the price increase message. Talk about adding insult to injury. 🙂
Vinnie, I never received the Mints price increase either. Perhaps it is because I had already dropped the M&P subscription and the intended recipients of the letter was only to subscribers. Just a thought.
Never mind. I just received the email from the mint. Nothing to see here.
I got my email too on July 3. $455 for the 5 oz ATB!
Now just imagine what would occur if silver were to double in price.
Yeah, I’m not paying $90 each. When you try to sell them , all tge ripoffs want to give you spot price for pristine coins. Waste of money, with how scandalous and cheap the shop owner have become. Not all of them, but MOST of them. Coin collecting used to be fun. Now it’s just a waste of time. EXAMPLE: Being offered $5 for an uncirculated 1943 one dot three pence from New Zealand. Lists out in the book at over $700 in the condition its in. Nobody will give me a pile of dog crap for it. But once… Read more »
Tony, I believe most pricing books are written for the benefit of the dealer selling you a coin for less than what is listed to convince you of getting a great deal paying below market value. It’s akin to the MSRP sticker on the windshield of a new car on a lot. You never want to pay the sticker price!
In other words, it doesn’t mean that is the price you get when you go to sell.
Likewise, as you stated prior, that isn’t the price you have to pay either.
Which is exactly what will happen when you want to sell your 2024-W Unc and Proof coins. You’ll get spot price + a token $1 or two. You paid MSRP sticker price for your 2024-W coins from the Mint recently. You yourself were scammed by the Mint..
Thanks for making Tony’s point, spot on!
Tony Mason,
I save my favorite quotes as what I call plaques. “Die scam artists!” just made the grade!
The one I’ve heard twice now is “We only pay 40% of wholesale bid.” That’s when you pick up your shirt and walk out. Rule Number 1 for all coin collectors: Don’t get forked when it is time to sell. Sell it yourself on eBay as a “Buy It Now (30 Day Listing).” If it doesn’t sell for the price you want, then just put it back in the box, and try your luck 5 years down the road. The best times to sell are around tax time, when metals are moving upward sharply, before the Christmas holiday, or when… Read more »
If you want to get really smart about making money on coins……. . Get a Business License and a Resale Certificate. Preferable in a state that has no state sales tax. Having a resale certificate allows you to buy at wholesale from other dealers at shows and shops. Also, if you have $100k in the bank, you can become a bulk buyer at the mint and the TPGs. If your dollar volume is high enough, eBay will work with you too. You will have to file your quarterly returns and may be required to post a deposit for sales tax… Read more »
Canceled all my subscriptions nice job on pushing collecting coins from the US mint out
Just cancelled my subscription Enough is enough So all the big buyers load up on July 11th and I noticed that the price went from 143 to 164 or higher Why doesn’t the Mint just ship all the coins to the new monopoly Complaining about 91 dollars and they get it graded a Ms 70 and Poof 164 dollars What a scam The mint should be ashamed of themselves as another monopoly has formed on EBay
Dang, the Mint sure did shake up the beehive this time! I have a few thoughts, after the initial price increase shock announcement. Take a look at the ASE W-Proof, ASE W-Uncirculated, ASE S-Proof and Silver American Liberty during a comparable sales window for each year 2022, 2023 and 2024 (My spreadsheet below). For the Mint, sales are down for all of its silver numismatic products while costs have risen, leading to revenue taking a hit. Choices are 1) to produce more to lower per unit production cost in order to sell more; 2) increase sale prices; 3) downsize the product by reducing… Read more »
Major D, maybe these new silver pricings are just “transitory” to quote Secretary Yellen on another matter couple years ago?
By transitory, ChrisTerp, I assume you mean until the next exorbitant price hike.
😉
Major D,
Outstanding work on the very useful display chart/spread sheet. Thanks for doing that!
On its site, the US Mint answers the question: “How do you price your products”. And since the Mint derives its authority from congress, I assume you could also contact your congressman or the Finacial Services Commitee Chairman Patrick McHenry (R-NC). The mint hardly acts in a vacuum when it comes to approving and pricing of its numismatic products. Just saying.
Got the price increase email this afternoon.
It will not affect me – I am totally OUT and will not be ordering any PM product from them.
I was SO hooked on Commemoratives until they got unreasonable.
Slugger and the V are on my poo poo list
No more gold or silver coins for me, I decided that before the announced new prices. Just too high!
Can’t blame you in the slightest, Carl, and I’m fairly certain you’re not the only one.
See today’s update for the US Mint’s upcoming price increases for a wider range of its silver numismatic products, e.g., America the Beautiful Five Ounce Silver Uncirculated Coin: Current Price = $380 and Price Effective July 9 = $455. That’s a far cry from the original April 8, 2021 Mint pricing of the 2021 America the Beautiful Five Ounce Silver Uncirculated Coin—Tuskegee Airmen National Historic Site which was priced at $229.00 (the 56th and last five ounce silver coin to be released in the America the Beautiful Quarters Program). In just the last 3 years, the Mint has doubled the… Read more »
Rich, I hear ya! It used to be said that the only two sure things in life are death and taxes. Well, you can add a third- Mint price increases. Funny thing though, there always seems to be a market of willing buyers. And the coin industry continues to carry on just fine, slabbing up a storm. Perhaps this is nothing but a huge pyramid scheme, with the top sellers getting wealthier and selling the promise of a big payday all the way down to the bottom buyers holding the “spot” bag when it collapses.
Major D,
Bingo, you just picked the right door (with my apologies for mixing metaphors)!
Gadzooks, Rich… that is unbelievable! The Five Ounce Silver America the Beautiful Coin can now join the Large Bronze Medals and the Commemorative Clad Half Dollars as the most egregiously over-priced items in the entire Mint catalog.
Rich,
Well, don’t the hits just keep on coming!
Rock on, Sir Kaiser!
Rick,
Dipped on the 4th of July.
Cheers
That 1952 P was the last piece to the puzzle.
I’ve been gradually assembling this set since the 1990s.
Page 1.
A complete set in the box. All of the pages were sealed today.
MS-64 to MS-66. Some FBL and some not.
Have a great holiday Rick.
Cheers
GASP!!! That set took my breath away. Gorgeous…..
DAVESWFL,
Thanks.
The pictures are slightly unforgiving. Albums don’t photograph well. Yet, the set looks great in hand. A total eye popper. I would label it as “GEM.” It would cost about $1,700 to slab the whole set. I think I will just keep the money and put the set back.
Cheers
Beautiful set. 30 years in the making and a job well done.
East Coast,
Thank you!
Cheers
Nice, E1, nice!
E1, What can I say?! Nice work E1, you should be proud of yourself, I truly am proud of/for you. It’s a great presentation–keep it that way. Great work on the rim perimeter, that’s where the most buildup was and had to be tough. It cleaned up really nicely. No more distorted caramel color and dark circumferences. 30 years of dedication to the set is truly inspiring. This is why I call you a connoisseur, because you are one. And that’s just with coin collecting. You are a new age collector, and an old school collector all in one and… Read more »
Rick, Thank you for your stamp of approval and your support as a fellow numismatist. This has been a grand experience blogging with you Rick. Motivating and educational. . The 51-P was an easy dip. Just 2-3 seconds in the dip. The coin was never dipped before. So, it cleaned up nice and fast. No Q-tips. . The completed set was never a priority and always seemed to get put on the back burner, clumped together, or repackaged. Again, a gradual unorganized collection added to over the decades that finally produced something of quality and value. I had a lot… Read more »
Ditto on the enthusiasm E1. It’s mutual.
Those ‘rejects’ aren’t exactly slouches and you treat them with respect ✓
The dip time is surprising. I may try the speed dip.
Anytime you have an album candidate up for consideration or a crackout patient on the operating table, you need to keep us posted.
“Old School is Cool” –so there’s another quote for you…
PS: look what I found…
E 1,
Simply outstanding! Congrats on getting that assembled, my friend!
Kaiser,
Thank You!
E 1,
My pleasure!
My two favourite coins growing up were the Walking Liberty and Franklin Half dollars.The Walking Liberties were always circulated and thus worn, but most of the Franklins still looked great. I wish the mint would revive the Franklins after seeing your collection. You have a good eye for coins!
Craig,
Thank you.
Cheers
Craig,
The Walking Liberty Half was my favorite coin in 1956 when I first began collecting and it has remained my absolute number one to this very day.
Kaiser,
You are indeed a coin connoisseur. I’m going to start picking up a few graded Walking Liberty Half Dollars now that the mint has lost their collective minds. That eagle on the reverse is simply classic.
Guys,
Yes, Walkers are great. A true classic. I will need about a year to finish this set. The “S” mints are the toughest.
Correction: “That 1951-P was”
Just seeing what the 2024 silver Kennedy sells for plucked out of a set makes me think that $130 is not a bad price for the entire silver proof set.
So curious about your comment – once you crack it out how much does it cost to slab it?
Thanks for the info!
1 coin Economy = $68 In hand 9-10 weeks +/- no pic./ with pic add $5 1 coin Regular = $85 In hand 2 Months +/- with pic 1 coin Express =$115 In hand 3 weeks +/- with pic 1 coin Walkthrough = $195 In hand 1 week +/- with pic Shipping is included at $35 minimum both ways. Shipping eats up half of Economy lol. *The more coins in the order the less per coin the shipping expenses are. *A cheaper caveat to Economy is called ‘Modern Value’ at $6 cheaper and 1/2 the turnaround time as ‘Regular'(’24 Kennedy… Read more »
Rick,
It’s interesting, helpfuL, and above all INTIMIDATING to see these prices.
$455 for the ATB 5 oz. Ag coins….man I’m richer than even I thought, as I have all of them stored in my safe (many in multiples). It does appear the mint doesn’t want to sell PM coins in abundance any longer. Could there actually be a PM deficit in our economy at present? The last time I watched Magic Mike on HSN he said there is a 20 million ounce shortfall in Ag per month for utilisation in all applications of commerce. Is he onto something?
I just checked a couple of receipts from several years back;
2010-the 1/4 oz Gold Proof coin was $415
2010-ASE Proof coin was $45.95
2010-Platinum Proof was $1892**
2010-the 2009 DC/Territories Proof Silver 6 coin set was $29.95… 2010 set $32.95
’09 Harrison Spouse Gold Unc 716..’10 Buchanan Unc $766
2013 & ’14 *5oz Unc ATB Silver was $154.95
I may have bought a Gold coin from Magic Mike if he worked the Coin Vault way back?–rookie move Lol
Now I might as well give ‘William Devane’ a shot at selling me some Gold? Seems like a solid guy LOL
Rick,
I loved those 2009 DC/Terr Silver Proof sets for just $29.95…I bought 10 sets they were so cheap. Now, I wish I’d have bought 100 sets! Lol That 2010 1/4 oz Au coin was a great buy. You can barely buy a 1/10th oz Au for that these days. It’ll be interesting to see how much Au coins will be increasing in price. You have a nice collection of coins!
Great purchase Craig. Last time I made a large order from the mint was in 2007 with the burnished dollar set. ASE with a Sacagawea dollar and first four presidents dollars. Set hasn’t done much since. I should have bought a gold coin and I would have been ahead by a long shot.
Craig,
Soon to be the newest member of the Malibu mansion elite with your newfound fortune!
WELL! I canceled all my subscriptions too. Frankly I get into predicaments lately. Whether to pay for gas and utility bills or for ice cream and food for my kids. I ain’t sacrifice ice cream for US Mint stupid price hikes. Shove it up yours “US Greed”!
You’re certainly doing the right thing, Victor, by keeping your priorities straight.
Well I guess it’s time to say goodbye for a while to the U.S.MINT. I can’t see any true justification in a $15 dollar mark up on silver Unc.coins and $150.00 on silver Proof set. For that price they should make the cent,nickel and dollar silver in the set. Silver is around $30 an ounce, not $80. I might check the RCM for the time being. Funny, that they do this now right before the Morgan and Peace dollars go on sale. Shame!Shame! Shame!
GDH,
I don’t think anyone here has ever witnessed the Mint blushing. It HAS no shame.
They are raising the price for the 2019 s reverse enhanced finish silver eagle???? I did not know this was available. I wouldn’t mind that price increase.
Good eye, Ken! If only…. well, maybe it’s for the next vault sale?
VinnieC you just never know,
2013 I put the new blast white Libertads in these Archival flips as shown, back into the plastic bubble envelope(and receipt) and put them in the ‘junk silver’ Box. I just took them out today after 11 years. All air & gas intrusion was/is at the slim opening of the flip. Air and/or gasses are very sneaky over the years. I suppose it’s like my Moms old Sterlingware, it’s gonna tarnish. They can dip clean easily enough though..PS: See the Intercept box. That one is still unopened, but supposed to help with that?
Opps here is the pic…
They might want to think about changing that name to “OPENTOALL”.
My bullion coins have the same look
And there you go.
Open the flip up, and the semi-open air slit is right against the toning.
Fear not, they will clean easy with a quick dip, rinse and dry the E1 way.
I did that on several cheap rounds & ASE’s before selling = brand new.
e*Zest, Speed dip, MS70, etc cleaner should do the trick. We like photos!
https://www.amazon.com/Z-est-Cleaner-Silver-Copper-Coins/dp/B01G6EMLPA/ref
Scroll down to see a quick mini-video on how fast it works!
Guys,
May I recommend hard acetate safe flips instead. Those soft poly flips have a natural propensity to cause hazing and toning. Personally, I would never put a coin in a soft flip for a second. Especially a proof coin. I know the TPGs issue the softies, but they cause problems. Also, the hard acetate flips can be heat sealed if you can find a sealer.
Cheers
What is next from the mint$25.00 shipping charges and you wonder if the USPS will even deliver it?
As it is often said, Mike Petraitis, “anything’s possible.” 🙂
Mike, I will say that the Mint’s loyalty shipping is the best deal going, especially when subscription orders (with no charged postage) count towards the 3 for the year for free shipping. Otherwise, the $5.95 shipping charge is not bad considering what many eBay sellers charge. As for USPS, I have always received what I’ve ordered from the Mint, so I have no complaint there.
Funny, I can’t remember the Mint ever lowering prices when spot drops (or hammered down by their buddies at JPM or HSBC). The few winners they have lately is from reviving/copying past designs. Now they want to juice it (maybe to offset their losers). Hard pass for me. Will probably be sold cheaper on the Bay sometime in the future.
“Lower Mint Prices” is an oxymoron.
If the price of the silver proof set goes up, I think this will be my last year. Which I find sad, as I have bought one every year since 1999. But all is not lost. While visiting all of my local coin stores, I have discovered many are willing to just about give away modern commemoratives. I can usually pick them up for $20. The most I will spend is $25. With silver at $30/oz, the melt value is $23 on these 90% silver content (0.77 OZ) commems. I see it as a win-win situation. I really like many… Read more »
Larry, the silver proof set will be going up to $150 effective July 9; the limited edition to $255 and the silver quarter proof to $95. I agree with you about the commemoratives. On top of some really nice designs, silver content and lower prices, many also have very low mintages. You’re doing really well to pick up at $20. I’m closer to $25-$30 but in nice OGP with COA. I’ve been very happy with the quality of the coins I’ve bought, especially the uncirculated ones which also have lower mintages and often lower prices than the proof. It’s a… Read more »
Well, Major D, I’m really cheered up now. NOT!
JQC, You’ve got to be roasting in your neck of the woods. “EXCESSIVE HEAT WARNING Affected Area Santa Clara Valley including San Jose ADDITIONAL DETAILS…An exceptionally dangerous situation is expected to unfold during this potentially historic and deadly heat event. Several days of temperatures well above normal will lead to compounding effects among people and infrastructure, with the possibility of numerous heat related fatalities. It cannot be stressed enough that while one day at these temperatures may be manageable for some, an event of this scale, magnitude, and longevity will likely rival anything we’ve seen in the last 18 years.… Read more »
Stay cool, watch the cat, and look for Mid-MS Walker candidates.✓
You might as well be in Palm Desert the way it sounds?
80° for a high over this way.
Rick,
Drinking beer and watching the cat. I think the entire state may be turning into a desert. Over 100° F today.
Cheers Bro
It may be hot,
but the cat looks to be one cool character.
From ancient Egypt to our back yards, cats have a fuzzy history.
Kaiser,
Cleopatra and her cats, yes…… The only problem I have with him, I think he is in love with my wife. So, I consider him a bio environmental sociological test cat. He is gold in color…..he might be lucky. Definitely cool but doesn’t like the heat.
E 1,
I will say that he is quite the handsome fellow so it’s not surprising he might just be a ladykiller. Decades ago I had three felines who couldn’t have been more different from each other but with each being a gem companion in her own way. If Schrodinger had wanted to gather one of them up for his dastardly quantum state box experiment he would have had to come through me…regardless of being a fellow German!
geez i thought $80 was already a bit rich for ~$30 worth of silver, at $91 that’s basically 3x silver price. sure silver went up but not by $10-15 an ounce and it doesn’t seem like that type of upward move is even a risk, looking at even far-out futures contracts it’s not anticipated to go up by more than $3-4 from where it is now. that only leaves one explanation: they need to raise more revenue to cover the money-losing parts of the mint such as making billions upon billions of pennies and nickels.
c_q,
Your statement, “that only leaves one explanation: they need to raise more revenue to cover the money-losing parts of the mint such as making billions upon billions of pennies and nickels”, is absolutely on the money!
I went through my invoices from the US mint here are the prices I paid for some of the proof Silver Eagles 2002-$24.00 2003 $24.00 2004 $28.00 2007 $30.00 2010 $46.00 2011-$60.00 2017_54.00 .these are just a few of them I purchased. So compare the price of the 2002 to the new price of the 2024 $24.00 for the 2002 $95.00 for the price of the 2024 that is a $71.00 increase over 22 years what will the price of a 2046 silver eagle going to cost?
How many items can you think of that are exactly the same as in 2002 but cost triple the price today?
This simply demonstrates the gross inefficiency of the mint.
Still using the same buildings, pressed, etc. And zero property taxes to boot. Zero rent, so no lease rate increases.
Extortion is the best word I can think of…. Total miss on their stated objectives!
Yeah but they’ve created new jobs boosting the economy, and bringing us together through coins. It doesn’t get any better than that!
Rick,
That’s some more of that brilliant and out of necessity coded talk, right?
✓ esyay indeedyay irsay aiserkay!
I like the way you talk!
Craig and Rick,
Just more proof (!) that nothing gets past you guys. Awesome!
Mmm-Hmm…
I like the way you talk, mm-hmm…
Some people call it a sling blade. I call it a Kaiser blade…mmmhmm.
What a joke, the price of silver is up maybe $2 an ounce. So in the Mint’s infinite wisdom, raise the price $5 and ounce. But wait there’s more. The 2.5 ounce American Liberty medal gets a $67.50 increase. Should that be a $12.50 increase? I guess metal price are the excuse, not the reality. Last years meager purchases where my last.
Yes, VA Bob, but isn’t one man’s reality just another man’s fantasy? Anyway, that’s it for my two cents…excuse me, I meant to say two dollars’ worth. Mintflation, ya know.
Will the prices also increase for the 2024 subscriptions?
Yup, starting on July 9.
Hope everyone had a happy 4th of July because the 9th will be a little less fun.
Plenty of Fireworks leftover might keep things fun for a while longer?
Apparently not if you’re in a dry part of California (is there any other?).
Kaiser,
Kind sir, Are you assigned to respond to every post? I ask respectfully. This thread became, frankly, unreadable. Sincerely posed.
OK here is a stupid question how many people quit smoking cigarettes when the price goes up or how many quit drinking beer when the price goes up.I do not drink or smoke so I will be one of the fools to keep buying coins so my friend can get them when I die and she will be thinking What was he thinking !
Mike Petraitis,
Those points are as valid as can be. It seems there are certain items, whether in the standard addiction or elite pricing categories, that tend to never want for buyers. We have, for example, alcohol, tobacco, and cocaine on the one hand, and luxury cars, mega-yachts and private airplanes on the other. Oh yeah, let’s not forget either meth or round the world cruises; those two are practically always sold out.
Kaiser & Mike —
If my memory serves me correctly they referred to products such as this during my MBA as having an “elastic demand” … exhibiting exactly what you describe. While I am not not hooked on the other things you mentioned, I have never been able to kick the habit of coin collecting since finding that 1881 Morgan Dollar outside the local supermarket in the late 1950s. And unless my family cancels my auto ship after I die, it literally could extend beyond my lifetime.
— Mike
Mike Hunt (still and always one of my favorite pen names),
As you well know I have at times been ensared by two of the above enchantresses, namely coins and alcohol, with the former not only preceding the latter’s initiation of addiction by ten years but additionally outliving it by a further thirty-six. I am therefore left with the inescapable conclusion that numismatics is at least twice as relentlessly compulsive as is alcolholism, but knowing how much I am attached to my coin collection that was not unexpected.
Kaiser — First it was an outright PLEASURE to hear from you (as I had seen some postings that suggested you may had passed). So I am beyond delighted to read your feisty, pointed, and insightful comments again. Fyi, if you are interested in what I had been doing, I was overly focused (and successful) getting Princess to do their April 2024 Total Solar Eclipse cruises. Re my pleasures of alcohol, I think some might classify me as a “functional alcoholic”. But while I used to drink, I now sip … so as to fully enjoy every subtle drop and… Read more »
Mike, How very awesome it is to have you back in the conversation again; believe me, you were sorely missed! I did not, however, worry about your fate in the interim since I simply imagined – and correctly so as it turns out – that you were going about the many aspects/activities that add up to the business of your life. I have never possessed your ability to be more measured in my alcohol consumption, therefore when push finally came to shove I had no choice but to part ways entirely and forever with that and what had been my… Read more »
Guys. Yes I agree this one year price hike is high. I am hoping they see something re the price of silver that we are not aware of!! I also agree that they should have stopped at 2021 with the Morgan’s and Peace dollars, especially after they missed the 2022. AND Fiji did not come to the rescue! Come on Mike M. !
Don H,
Great observations! My personal take is that the Mint doesn’t make calculations in our favor but rather keeps itself focused on those that it feels will affect its bottom line.
Got both the Morgan and Peace dollars today. Pricey but very pleased. They are absolutely beautiful and I can not find even the slightest imperfection on either. I must say that I think I am going to cancel my subscriptions for the UNC types as well and just purchase the Proofs in the future.