US Mint First Spouse Gold Coin Prices May Increase

by on May 11, 2010 · 0 comments

up trend chartMarket indicators appear strong that the United States Mint will raise First Spouse Gold Coin prices Wednesday morning and for a second straight week.

Last week the US Mint pushed prices higher when the London gold fix average topped $1,150 an ounce.

If the AM fix on Wednesday is set above $1218.60 an ounce, the new weekly average will topple $1,200 and trigger another round of price increases.

Gold jumped to a record in New York on Tuesday, closing to $1,220.30 an ounce and then passed $1,232 in after-hours trading. Unless profit-taking goes into full swing or some unexpected bearish news breaks in the overnight or early morning hours, First Spouse Gold Coin prices will increase by $25. That would mark their own record as the highest they have ever been.

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

London Fix Gold
5/12/2010 – Wednesday ? N/A
5/11//2010 – Tuesday 1209.00 1222.50
5/10//2010 – Monday 1188.25 1196.50
5/7/2010 – Friday 1199.60 1202.25
5/6/2010 – Thursday 1178.00 1185.25

An increase would put the uncirculated coin prices at $766 and the proof prices at $779.

There have been five prior price adjustments in 2010, including:

  • January 27 decrease
  • February 24 increase
  • April 14 increase
  • April 21 decrease
  • May 5 increase

All have happened on Wednesdays, and usually between 11:00-12:00 AM Eastern Time.

Similar price corrections will not be made to the Mint’s bullion (non collector) coins, like the American Gold Eagle and the America Buffalo Gold. 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.

First Spouse Coins weigh one-half ounce each, have a face value of $10 and are struck from 24 karat, or .9999 fine gold. The coins series began in 2007. Each gold piece is issued in the order that a first lady served and on the same schedule as the Presidential dollars.

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