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New selling prices for Swiss commemorative coins

April 21, 2011- Extraordinary developments in the precious metal and non-ferrous metal market have led to price increases for Swiss commemorative coins.

Swissmint succeeded in keeping prices stable over many years thanks to rationalisation measures. At the same time, great efforts were made to continually improve the quality and attractiveness of the products and to respond to the customers’ wishes. It was only the selling price of gold coins which had to be adjusted in the past due to the sharp rise in the gold prices.

On 11 April 2011, the price of silver reached CHF 1,200 per kilo, i.e. a 20-franc silver coin contained pure silver worth CHF 20.04. The costs for project planning, manufacture and distribution are not included here.

Furthermore, our internal post calculations have revealed that costs exceed revenues in the case of 10-franc bimetallic coins, which is at least partly due to the rise in nonferrous metal prices. Like other mints, Swissmint has been forced to react to the changes in circumstances. In order to maintain the high quality standards of its products, it is carrying out the following price adjustments:

- From 26 May 2011: 20-franc silver coin:
uncirculated = CHF 30.00, proof = CHF 60.00

- From January 2012:10-franc bimetallic coin:
uncirculated = CHF 15.00, proof = CHF 40.00

Because the selling prices of uncirculated coins are now higher than the nominal value, they are subject to VAT. Other solutions have been avoided because these would have taken more time to implement and would thus have rendered the timely issue of the coins impossible.

For further information look at Swissmint.

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