Monday, August 29, 2011

US Mint raises ASE proof 14%

10:32 am (Hawaii) I noted 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.

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