U.S. Mint Announces Price Increase for Silver Collector Products
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 U.S. Mint has announced additional price increases for a wider range of its silver numismatic products beyond the Morgan and Peace Silver Dollars.
Despite the recent press release mentioning a different price for the uncirculated Morgan and Peace Silver Dollars, the Mint has revised it to confirm the $91 price on July 2nd.
Price Updates for Silver Numismatic Products
The U.S. Mint sent out another email detailing upcoming price changes for a variety of its silver coins and medals. The price adjustments for silver coins and medals will go into effect on July 9. Customers are encouraged to make their purchases before the price hike to take advantage of the current pricing.
Impact of Rising Silver Prices
With the increase in the price of silver and other associated costs, the U.S. Mint is adjusting the prices of its silver collector products to reflect the current market conditions. This move aims to ensure that the Mint can continue to offer high-quality numismatic products to its customers despite the fluctuations in precious metal prices.