Want Silver? Too Bad...

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幣商提議成立一種新的訂價方式,防止銀價大波動

Posted by Brittany Stepniak - Friday, September 30th, 2011

As silver prices plummet, the mint has halted production – waiting for a price-fix. 

Take a look at the 30-Day Silver chart to see just how sharply it has fallen since September 21:

Gold and silver prices have drastically tumbled this week. Fortunately for gold traders, there have been no major changes or production suspensions thus far in golden U.S. Mint products.

It's not quite the same story for silver traders...

As of Monday, September 26 2011, the Mint decided to temporarily suspend silver coin sales. For the time being they are not selling a majority of the collector-silver coins including:

• U.S. Mint Silver Proof set for 2010 and 2011
• 2011 Gettysburg National Military Park America the Beautiful Five Ounce Silver Uncirculated Coin
• 2010 Mount Hood National Forest America the Beautiful Fiver Ounce Silver Uncirculated Coin
• 2011 America Eagle Silver Proof coin
• 2010 and 2011 America the Beautiful Silver Proof Set

The decision was in response to silver prices dipping all the way down to $28.16 per ounce on Monday. This was just shortly after the 2011 American Eagle Silver Unciruclated coin debuted on September 15. Between that date and September 19, there were 184,967 orders for the coins.

With the unexpectedly low silver price decline, the Mint will, most-likely, want to change its product pricing before listing the aboved noted silver items as "available" again.

The pre-suspension price of the one ounce 2011 Uncirculated American Silver Eagles was $60.45. If the Mint chooses to change its product pricing, the new prices will probably be posted in the Federal Register before they go into effect.

Although the price of gold has also plummeted, no changes or sales suspensions have thus far occurred in other U.S. Mint products such as the American Gold Eagles. In August the Mint introduced a new pricing grid methodology, based primarily on the London Fix weekly average. This methodology allows the Mint to change the prices of gold products as often as weekly to better reflect the costs of gold for these coins. Numismatic gold production and prices are re-evaluated and adjusted as needed every Wednesday.

In total, the Mint has listed eight of their product packages as “unavailable.” It is uncertain when they will re-list them, but interested investors can expect to wait for a price-fix. New prices are likely to be posted in the Federal Register before the Mint actually puts the new silver prices into circulation with their products.

As far as silver prices in the general markets go, many analysts anticipate a slight rebound today after yesterday's selloff.

 *Indented excerpts from Mineweb.

http://www.mineweb.com/mineweb/view/mineweb/en/page32?oid=136300&sn=Detail&pid=102055