US Mint jacks up ASE Proof 1-oz by 14%

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#1 Mon, Aug 29, 2011 - 6:24pm
Moiliili Quarry
Honolulu, HI
Joined: Jun 14, 2011

US Mint jacks up ASE Proof 1-oz by 14%

I noticed last night that the US Mint site had taken its American Eagle 1-oz Silver Proof Coin off the table to adjust the previous price of $59.95. My guess was that they'd move the price up to $64.95 and continue increasing over time at $5 increments, similar to what they did with the First Spouse gold coins.

Well, the new price is up today: $68.45. That's a 14% increase. I'm glad I got a few proofs, my first ever, while it was at the $59.95 price. But now I'm wishing I had more even though this increase is ridiculous. At $59.95, it felt cheap as spot silver rose from 37 to 44. But with spot silver back at 40, $68.45 has gone from a ridiculous premium to an unfathomable one: 70 PERCENT! That's how it goes when emotion is involved, and emotion is involved because this is one hell of a beautiful coin. But enough is enough. No new ASE proofs for me, not for awhile. Regular ASEs and AGEs are fine with me.
Edited by: Moiliili Quarry on Nov 8, 2014 - 5:08am
Mon, Aug 29, 2011 - 11:33pm
Dallas, TX
Joined: Jun 14, 2011


Why pay premiums for recent proof coins? The bullion coins are beautiful enough. The higher silver or gold goes, the more margin compression there will be on proofs/numismatics. Just say no.

Tue, Aug 30, 2011 - 10:20pm
Magnolia, TX
Joined: Jun 15, 2011

I have to agree Blorf, but

I have to agree Blorf, but they are beautiful. I too almost wish I would have bought more. But after seeing them and holding them, they are simply stunning. Coming in a very nice case and encapsulated on a plastic case, it is almost worth the premium. Only time will tell if I did the right thing by buying them.

Bang Bang
Wed, Aug 31, 2011 - 11:21am (Reply to #3)
Joined: Jun 14, 2011

The proof ASE's are the most

The proof ASE's are the most beautiful coins I've seen, IMO. Wish I could buy them for spot + $2, I'd stack nothing else.

So instead I buy the odd ASE non-proof I can get near spot, lots of morgans and peace dollars, and tons of 90%. Oh, and the yellow stuff, of course. . .

Wed, Aug 31, 2011 - 3:40pm
Dark Side of the Moon, WA
Joined: Jun 16, 2011

70 % increase

Haven't ya heard? They need more money to spend. The printers are going as fast as they can but can't keep up.

"More power Scotty! "Aye Captain, but I'm giving you all she's got."

Wed, Aug 31, 2011 - 8:02pm
Joined: Aug 22, 2011

I like my proofs... they look

I like my proofs... they look awesome. At $68.75 they are still undervalued IMHO, because we all know that the spot price is artificially low.

I will continue to buy proofs either for a keepsake or for gifts.... the presentation boxes make them great gifts for close family/friends!

Thu, Sep 1, 2011 - 2:21pm
Moiliili Quarry
Honolulu, HI
Joined: Jun 14, 2011

I agree, the proofs make nice

I agree, the proofs make nice gifts and that's what I did with the few that I bought. Kept a few for myself, but the vast majority of my little sack of bullion is non-proof ASEs. A few of the other pretty, proof-like silver includes some 5-oz Silver Prey bars from Scottsdale Silver and 5-oz America the Beautiful silver coins.

I just can't bring myself to pay 70% over premium. If and when spot price hits 50 or 55, that $68.95 price won't be so bad. I'm so cheap...

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