2011-W Uncirculated American Silver Eagle Back from Product Suspension

in American Silver Eagle News

The 2011-W Uncirculated American Silver Eagle returned to availability on March 6, 2012. It and several other U.S. Mint silver products were not available for a total of twelve days due to suspensions enforced on them after significant gains in silver prices on February 24, 2012.

Silver prices have since fallen. As a result, the 2011-W Uncirculated American Silver Eagle was placed back on sale by the U.S. Mint for the same $45.95 price.

The Eagle’s lack of availability did result in a modest drop of its sales total — likely the result of some customer who were able to purchase before the suspension but then decided to return their order for one reason or another. The U.S. Mint’s weekly sales figures showed the uncirculated Eagle had its sales decline by 30, placing its total at 270,987 (see latest sales.)

Other U.S. Mint products which were suspended and are again available are the five 2011-dated America the Beautiful Five Ounce Silver Uncirculated Coins. Collectors can purchase those for $204.95, which is also the same pricing as before they were pulled. Each of their weekly sales also retreated modestly.

During the suspension period, silver had shot up as high as $37.23 an ounce on February 29. As mentioned, silver has since tumbled and fell as low as $33.22 an ounce on March 6. That amounted to a $4 swing in a matter of days.

As each American Silver Eagle is composed of 99.9% fine silver, whatever the market value of silver is at a time is their melt value. Of course collector versions of the Eagle, like the uncirculated and proof, always have a "numismatic premium" component which is above the content of the precious metal they contain, whereas a bullion Eagle can often be purchase for a few dollars above an ounce of the white metal. Whenever a collector coin’s melt value comes to close to its selling price, the U.S. Mint will suspend its sales for a time — either to return it at the same price when precious metals calm, or lower or raise its price to better reflect market changes.

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