This great information for investors has had immediate consequences in the numismatic world. The Mint, itself, dependent on the National Mint and Stamp Factory, has been forced to temporarily suspend the sale of silver coins due to the high value that this metal has acquired in order not to sell at a loss.

The Mint suspended the sale of these collection pieces a few days ago, when the silver It already reached 80 dollars per ounce. However, just a few days later it reached $114.

Given that the price is set by the BOE, the institution will not resume the sale until the Official Gazette publishes the updated prices, as reported in a statement, following a request from the Treasury to the Ministry of Finance.

«If the ounce of silver is quoted at 80 euros/ounce –now it exceeds 100 euros-the intrinsic value of a coin size 8 reales is 64.24 euros. To this value we would have to add the 10 euros of face value and the cost of acquiring the coins, paying insurance and manufacturing the coins,” explains Ruiz Calleja on his website blognumismatico.com. «The unit cost per coin for the FNMT is easily around 78 euros. With the volatility of silver it seems reasonable that they keep a 20% margin on these costs (no one would be surprised if the price of silver rises 20% in the coming months) and, I suppose, they will hope to gain something. In total, I would not be surprised if the official price of the 10 euro coins exceeds 100 euros, to which 21% VAT would have to be added,” he adds.

In 2011, 12 euro coins cost more for their silver than for their face value

Already in 2011, when silver experienced a rise similar to the current one and began to break records, the Mint and Stamp Factory also had to suspend its sale since the 12 euro coins cost more for their silver than for their face value.