Unless gold prices find and then fall off the world’s highest cliff on Wednesday, the US Mint will raise Ultra High Relief Double Eagles and First Spouse Gold Coin prices by $50 and $25, respectively.
US Mint collector gold coin prices are subject to change weekly based on the US Mint’s pricing policy which links the market price of gold to the selling price for the precious metal coins.
The last gold coin price increases occurred on Sept. 2 when the gold average topped $950 an ounce. While Wednesday gold prices must still be taken into account, the prior 4 day gold average stands at $1,011.38 an ounce, with many days well above the $1,000 threshold which automatically triggers a new round of higher coin prices.
Wednesday gold prices would have to fall nearly $60, or to below $955 an ounce, for no change to occur. The following are the available figures the US Mint will use to arrive at an average:
London Fix Gold
|9/23/2009 – Wednesday||?||?|
|9/22/2009 – Tuesday||1015.75||1014.00|
|9/21/2009 – Monday||999.25||997.00|
|9/18/2009 – Friday||1014.00||1012.00|
|9/17/2009 – Thursday||1020.50||1018.50|
The new coin prices will be:
- UHRs at $1,389.00
- Uncirculated First Spouse Coins at $666.00*, and
- Proof First Spouse Coins at $679.00.
While the Mint pricing policy states changes would occur on Thursdays, in practice it has adjusted prices around noon on Wednesdays with little downtime in ordering coins — unlike when it first turned to the policy and froze ordering much of Wednesday only to update prices on Thursday morning.
The London gold-fixing is a benchmark for gold traded directly between big institutions. As of this writing, New York spot gold prices have climbed $12.80 to $1,015.80 an ounce.
[Editor’s update: As expected, the US Mint adjusted prices upward. The change was made slightly before 1 p.m. ET on Wed., Sept. 23. Instead of $666.00 for the uncirculated First Spouse Gold Coin price, the Mint rounded down to 665.75.]