America the Beautiful set price tumbles

America the Beautiful 5-ounce silver coin sets are now dropping in price. Coast to Coast Coins and Currency dropped its retail price from $2,395 to $1,695 in a week, a decline of 29 percent, according to the firm’s latest advertisement in Numismatic News.

Sure, the sets are not graded MS-69 or MS-70, but greater availability now seems to be the name of the game.

I had a telephone call yesterday from a reader in Omak, Wash.

He had placed an order for one of the sets from an Authorized Purchaser when he saw a story in Numismatic News about the mob of people who lined up outside of The Gold Center in Springfield, Ill., Jan. 3 to buy the sets that firm was offering.

He told me he really did not expect to be successful in his quest but he got the all-important telephone call from his chosen Authorized Purchaser on Feb. 9 telling him one was reserved for him and to send his check.

He did. Now he is on pins and needles just waiting for the arrival of the coins and he decided to share his excitement with me.

How low will prices go? Coin Market editor Harry Miller warned in the first issue of Numismatic News with a 2011 date that these sets should not be chased. That looks like a smart call today.