With a one-year lapse in availability, the United States Mint is returning in roaring fashion with its annual 2016 Limited Edition Silver Proof Set, which went on sale at noon today.
Silver prices have fallen since 2011, when it neared record prices. A strong dollar and rebounding economy, according to experts, has undermined that silver bull run.
The Silver Proof Set, limited to 50,000 pieces, is priced at $139.95, well-above silver face value. Seven of the coins are in 90% silver and were minted by the San Francisco Mint. Another is .999 silver by West Point Mint. These collector proof quality coins feature frosted designs and mirrored backgrounds.
Here are the sets available:
- 2016-W 30th Anniversary American Eagle Proof Silver Coin (.999 fine silver)
- 2016-S Kennedy Half Dollar (90% silver)
- 2016-S Shawnee National Forest Quarter (90% silver)
- 2016-S Cumberland Gap National Historical Park Quarter (90% silver)
- 2016-S Harpers Ferry National Historical Park Quarter (90% silver)
- 2016-S Theodore Roosevelt National Park Quarter (90% silver)
- 2016-S Fort Moultrie (Fort Sumter National Monument) Quarter (90% silver)
- 2016-S Roosevelt Dime (90% silver)
Six of the sets entail 2016 unique features, such as a special American Silver Eeagle incused with “30th Anniversary” on the edges as well as five quarters with one-year specific national park or site designs.
In 2012, when these Limited Edition Silver Proof Sets were first featured, sales reached 44,952. In 2013, 47,971 were sold. In 2014, a big delay preceded sales of 42,614. More packaging issues in 2015 meant more delays. That sets scheduled launch was cancelled with the December 2015 FAST Act, which required anniversary lettering on numismatic Silver Eagles in 2016.
The sets are 2.388 ounces troy. LBMA silver price of $16.31 per ounce Thursday meant the sets melt value is $38.13.