US Mint selling silver cheap

[Tourney64]

Just received my 2011 United States Mint Silver Proof Set. I paid $67.95. The set includes the 5 America the Beautiful silver quarters 6.25 grams each of 90% silver. Also a silver dime 2.5 grams of 90% silver and a silver half 12.5 grams 90%. Total weight is 46.25 grams of 90% silver. 46.25 grams = 1.63 oz. x $37.55/oz silver price = $61.02 * 90% silver = $55.09 +5 dollar coins +nickel and penny. Total melt/face value = $60.15.

[Lemon Thrower]

can you still order at that price or did you order a long time ago?

[barrytrot]

It appears that you can still order them.

http://catalog.usmint.gov/webapp/wcs/st ... y_rn=10211

[Tourney64]

I just ordered over the weekend and received on Thursday.

[stevkc]

67.95 + 4.95 shipping = 72.90

At 60.15 melt/face value, looks like about 21% premium. Just sayin...

[Tourney64]

If you want to take delivery price into account. Delivered price of a 2011 silver eagle from APMEX is $44.57 based on 37.55 silver price. Works out to an 18.7% premium. Since the coins I mentioned for sale are proof coins, then to be comparable you would want to compare to a silver proof ASE so add another $19 to the $44.57.

[Know Common Cents]

Nice to have one or maybe two sets for their collector value, but not the best way to invest in silver in my opinion. At least at these price levels, you won't feel immediate buyers' remorse like after most purchases from the US Mint.

[stevkc]

If you want to take delivery price into account. Delivered price of a 2011 silver eagle from APMEX is $44.57 based on 37.55 silver price. Works out to an 18.7% premium. Since the coins I mentioned for sale are proof coins, then to be comparable you would want to compare to a silver proof ASE so add another $19 to the $44.57.

I think you have to take delivery cost into account. Anyway, I'm just saying that the silver is really not all that cheap as it says in the title. Not saying it is a horrible deal, as they are proof and you get the other coins and nice set and all, but there are definitely cheaper ways to obtain silver.

[dakota1955]

You can still buy the 2010 sets and they are 4 dollars cheaper per set. Buy more sets and the 4.95 shipping is the same.

[68Camaro]

Unless you value the proof aspect, which I question since there will be bazillons of these out there, it's an immediate 25% loss. Better than any other non-bullion deal, but not value in my book.