US Mint Suspends Numismatic Silver Products To Increase Price

2012 American Eagle Silver Proof Coin (US Mint images)The United States Mint has suspended the sale of several numismatic silver products as it plans a price increase for the items. Visitors to the US Mint's online store will see "This product is temporarily unavailable for product repricing" on the pages of the affected products.

Higher silver prices are to blame for the suspension and pending repricing. The precious metal has been on fire as of late and recorded a 28% increase in the last quarter.

The London Fix for Silver for today, October 4, 2012 was $34.96 an ounce.  It is the highest Fix silver has seen since March 2nd and is down just $2.27 an ounce from the 2012 high set on February 29th of $37.23.

For comparison, the low for 2012 was established on July 12th with a Fix of $26.67. From that low, today's Fix is up $8.29 an ounce, or 31.1%.

Pricing of the affected products from the US Mint will be adjusted upward $5 per troy ounce of the item.  The affected items, their previous price point and the price point at which they are scheduled to return to availability are:

Before the suspension, currently available America the Beautiful Five-Ounce Coins currently being sold included the strikes honoring Gettysburg National Park of Pennsylvania, Glacier National Park of Montana, Olympic National Park of Washington, Vicksburg National Military Park of Mississippi, Chickasaw National Recreation Area of Oklahoma, El Yunque National Forest of Puerto Rico, Chaco Culture National Historical Park of New Mexico, Acadia National Park of Maine and Hawaii Volcanoes National Park of Hawaii.

The US Mint has not yet announced a return date for the sales suspension of the above listed products.

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