US Mint Numismatic Gold Coin Prices Set for Decline

by on December 15, 2009 · 0 comments

Declining ChartGold prices have been declining for most of December, currently hovering at the $1,120 an ounce level as compared to the all-time highs that were seen very early in the month of around $1,200 an ounce.

The yellow metal’s retreat is bearish for bullion investors but fortunate for collectors wanting to purchase US Mint numismatic gold coins.

Expect on Wednesday a downward shift in prices for First Spouse Gold Coins, American Buffalo Gold Coins, and Ultra High Relief $20 Double Eagles.

The threshold for the Mint’s current pricing is based on a London Fix gold weekly average of between $1,150.00-$1,199.99 an ounce. Although the Mint must take in the Wednesday AM morning price, the likelihood is for the average to remain below $1,150 an ounce — it is currently at $1,124.86 using the prices available.

Look for:

  • UHR’s to move down to $1,489.00
  • American Buffalo Gold Coins to decline to $1,410.00
  • Uncirculated First Spouse Coins to fall to $716.00, and
  • Proof First Spouse Coins to get priced at $729.00.

The following are the available gold prices the Mint will use to arrive at an average:

London Fix Gold
12/16/2009 – Wednesday not yet set n/a
12/15/2009 – Tuesday 1115.00 1122.00
12/14/2009 – Monday 1120.00 1123.75
12/11/2009 – Friday 1140.00 1124.00
12/10/2009 – Thursday 1125.75 1128.50

The Mint will normally freeze ordering for the affected products for several minutes and then implement the increases. If the Mint follows its usual time frame, that would have happen before noon ET on Wednesday.

The London gold-fixing is a benchmark for gold traded directly between big institutions.

The Mint last increased prices on Nov. 25.

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