The Silver & Coin Brief — September 26, 2026: Metals Pull Back, the Mint Closes a Chapter
Week ended September 25, 2026 • Jason & Son Co.
Silver gave back last week's gains this week, and gold slipped too. This week's brief separates the market report from the collector's decision: what moved metals, what actually happened in the coin world, and what it means for your want list.
The market: what we can verify
Silver fell roughly 3% for the week, from $66.26 to about $64.31 per troy ounce. Gold slipped about 2%, from roughly $4,378 to $4,286 per troy ounce.
Benchmark note: The September 18 figures are Friday closes; the September 26 figures are Saturday-morning spot quotes, so treat the percentages as approximate. A separate weekly roundup put silver's decline at 3.7% and gold's at 2% for the week ended September 25 — same direction, same ballpark. Spot quotes vary by provider and time of day; these are not retail coin prices.
Our take: what to watch next
The backdrop is the Federal Reserve's September 16 quarter-point rate hike to 3.75–4.00%, with Fed officials signaling during the week that further tightening may be needed. A firmer dollar and multi-decade highs in Treasury yields pressured metals mid-week; both bounced on Friday but still finished lower.
Our view: this reads as a rates-driven pullback, not a verdict on physical supply — the Silver Institute still projects a 2026 supply deficit, the sixth consecutive year. For collectors, a down week in spot is information, not instruction. There is no price target here and no promise of a return.
Coin news this week
The Mint closed out "Best of the Mint." On September 24, the U.S. Mint released the fifth and final Best of the Mint set: a 1907 Saint-Gaudens High Relief $20 gold coin (one ounce, 24-karat) paired with a one-ounce .999 fine silver medal. Orders were limited to one set per household for the first 24 hours. It caps the Mint's 250th-anniversary tribute series.
The rarest Silver Eagle ever is at auction. GreatCollections is offering the first PCGS-graded 2026-P Silver Eagle with the Team USA privy mark, graded Proof-70 DCAM. Only 403 were struck — 400 presented to Olympians and Paralympians at an August White House event, three retained by the Mint — and none were ever sold to the public. For perspective, the famed 1995-W proof Eagle had a mintage of 30,125.
The "26-cent" error coin sold for $16,962.50. A Lincoln cent struck over a 2000 New Hampshire quarter — a double-denomination error graded PCGS MS-65 — drew 44 bids at GreatCollections last weekend.
Collector tip: premiums don't move with spot
When spot drops 3% in a week, retail coin prices rarely follow tick-for-tick. Premiums — the amount over melt you pay for fabrication, distribution, certification, and demand — are sticky, especially on Silver Eagles and popular series. If you're shopping silver coins this week, compare the premium over spot, not just the sticker price, and compare it against recent weeks. A lower sticker on a down-spot week can still hide a fatter premium.
Three current shop picks
- 2013 American Silver Eagle – PCGS MS69 — $85: One ounce of .999 fine silver in a certified MS69 holder. A fitting pick for a week when Silver Eagles made headlines.
- 1935 Peace Dollar – 90% Silver — $64.99: Final year of the original Peace dollar series; Philadelphia issue with a 1,576,000 mintage. Raw and ungraded — the pictured coin is the one offered.
- 2026 P & D Semiquincentennial Coin Set – 14 Coins — $28: Fourteen Philadelphia and Denver coins marking America's 250th — a natural companion to this week's Mint news.
All three were live on the site when checked September 26. Prices and availability can change; shipping and applicable tax are additional. Collect what you enjoy, inspect the details, and stay within your budget.