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US Mint Suspends 2012-W Proof American Silver Eagle

July 18, 2012 – The United States Mint has discontinued the sale of the 2012-W Proof American Silver Eagle coins.

The Mint has not indicated if or when the sales of the proof coin will resume. The statement on the ordering page for the coin reads, “This product is temporarily unavailable for product repricing.”

Sales discontinuations of this variety occur generally when a product’s precious metal has a melt value significantly different due to market fluctuations. London silver dropped to $26.67 per troy ounce on Thursday, July 12, a low for the year. When the Mint launched the American Silver Eagle, silver was priced at $31.47 per troy ounce.

Friday’s rebound brought silver back up to $27.48 per troy ounce, a level of key resistance. The coin should be available for purchase again very soon, provided there are no significant jumps in silver that reflect market volatility. The price of the 2012-W proof was set at $59.95 prior to the sales suspension.

Weighing one troy ounce and composed of 99.99 percent fine silver, Silver Eagles are bestsellers for the Mint. According to the Mint’s published sales data, sales for the year as of July 9 sit at 489,265.

The 2012-W proof is the only US Mint product to have been suspended at this time. A coin priced at $45.95 per coin, the 2011-dated collector uncirculated American Silver Eagle is still available.

Sales of numismatic versions of the American Silver Eagle were slower for the week before the discontinuation of the coin. The 2012-W proof added 3,524 units to bring the cumulative sales of the US Mint to 492.789. The 2011-W uncirculated coin added 782 units, to cumulative total of 296,741. The US Mint schedules the uncirculated Silver Eagles for the current year for release on August 2, 2012. There is no indication thus far of whether the release will be postponed due to the current silver prices.

On July 9, the US Mint initiated sale of the 2012-P Chaco Culture Five Ounce Silver Uncirculated Coin, the twelfth release of the numismatic series. The coin was limited to a mintage of 25,000 and sales as of July 16 have been reported at 6,365 orders for the units. The 2012-P does not appear to have been affected by the price volatility of the silver market.

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