US Mint Increasing Prices On Some Silver Products

Ummmmm, 31.59 is not down. It's the range it has been. It spiked at 34 a couple few weeks ago, but that's all. They are raising the prices on numismatic products, not the "bullion" stuff. That tells me they see a limited minting for this year. Considering the rate silver is being used up, I understand. More people are buying more silver now than ever before. I have seen estimates that the worlds silver reserves will be sucked up in the next ten years or so. Again, I can believe that.

The proof and unc coins are collectors coins. They are attaching a collectors premium. There isn't a single mint out there that isn't tacking on premiums to their coins. I really don't have a problem with the pricing. They increased it a few bucks. If you figure how much the dollar has been depreciated by the current administration, you are paying about the same.

The real point of my concern was told in the coinweek article. Although this may sound like a takeoff on some political point (which it isn't) is why increase a selling price on a product whose sales volume appears to be stagnant at best and losing ground at the worst that will have a negative impact on returns.

The mint is appearing to me to be increasing sales prices in order to increase the seignorage (spelling) when the product decisions (coinage) that were made by congress is going against its own best interest.

Case in point is the decision to no longer release the presidential and native american coins in circulation but to rely upon collectors to bring the product profit into the treasury. According to commentary on the Mint's report to congress this did lead to decrease return to the government. To my mind increasing premiums on a slow selling product (5 oz. ATB coin) is not a tried and proved way to increase profits but to hasten the decline and possible death of a product line. But then as customer my only means of voicing displeasure is to do what IndianGoldEagle said.

I figure silver will be upto a minimum of $40 an OZ by the end of summer...