First Spouse Gold Coin Prices Should Remain Unchanged

by on April 27, 2010 · 0 comments

Declining ChartGold prices declined sharply last week, only to recover and regain the $1,150+ level on Monday and for the AM London Fix on Tuesday.

However, the abrupt dip along with a stronger U.S. dollar taking hold on Tuesday should be enough to hold the London Fix weekly gold average to below $1,150 an ounce. That would keep U.S. Mint First Spouse Gold Coin prices unchanged.

As long as Wednesday’s AM Fix is under $1,182.25 an ounce, the United States Mint will not increase the 1/2 ounce, 24 karat gold coin prices by $25.

The following are the available figures the Mint will use to arrive at a weekly average:

London Fix Gold
4/28/2010 – Wednesday ? N/A
4/27/2010 – Tuesday 1152.25 1149.50
4/26/2010 – Monday 1154.00 1154.50
4/23/2010 – Friday 1140.00 1139.50
4/22/2010 – Thursday 1144.25 1133.75

With the time difference, the London AM gold price will get fixed before most Americans get out of bed Wednesday morning. Should gold climb above the $1,150 an ounce weekly average, the Mint would raise prices by:

  • Uncirculated First Spouse Gold Coins — $716 to $741
  • Proof First Spouse Gold Coins — $729 to $754

There have been four price adjustments for US Mint collector gold coins in 2010. The first was a decrease on Jan. 27, which was followed by increases on Feb. 24 and April 14. Prices were mostly recently cut on April 21.

The $10 gold coins that would be affected include the recently released 2010 First Spouse Abigail Fillmore and the 2009-dated pieces featuring:

  • Margaret Taylor
  • Sarah Polk
  • Julia Tyler
  • Letitia Tyler

The Mint typically adjusts prices, if needed, before noon ET on Wednesday.

Similar price corrections will not be made to the Mint’s bullion (non collector) coins, like the American Gold Eagle and the upcoming Thursday, April 29, 2010 Buffalo Gold release. Bullion pieces do not have a fixed weekly price like collector gold products, but instead are sold for a small amount over the current spot price of gold.

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