US Mint to Raise Gold Coin Prices, Sets Platinum Eagle Price

by CoinNews.net on May 25, 2011 · 0 comments

Proof Platinum Eagle

Rising gold prices will kick-in automatic price increases for United States Mint numismatic gold coins, returning them to their highest levels ever.

The Mint on Wednesday before noon Eastern Time is expected to raise the prices for its 2011 Proof Gold Eagle Coins, 2011 Uncirculated Gold Eagle Coin, First Spouse Gold Coins and Proof American Gold Buffalo. The opening price for the 2011 Proof Platinum Eagle Coin which launches on Thursday is also now known.

The United States Mint bases its collector gold and platinum coin prices on the average cost of precious metals between the previous Thursday and current Wednesday. The Mint cut coin prices last Wednesday as the London Fix weekly gold average dropped between $1,450.00 and $1,499.99 an ounce. However, the yellow metal has returned to a weekly average of above $1,500.00 an ounce, which calls for the following new coin prices:

Current and Expected Gold and Platinum Coin Price Increases

Product Current Price New Price Change
Uncirculated First Spouse Coins $891.00 $916.00 $25.00
Proof First Spouse Coins $904.00 $929.00 $25.00
American Gold Buffalo $1,760.00 $1,810.00 $50.00
1 oz Uncirculated Gold Eagle $1,728.00 $1,778.00 $50.00
1 oz Proof Gold Eagle $1,735.00 $1,785.00 $50.00
1/2 oz Proof Gold Eagle $881.00 $906.00 $25.00
1/4 oz Proof Gold Eagle $453.00 $465.50 $12.50
1/10 oz Proof Gold Eagle $195.50 $200.50 $5.00
Proof Gold Eagle 4-Coin Set $3,215.50 $3,308.00 $92.50

 

Additionally, the 2011 Proof Platinum Eagle coin which launches at noon ET on Thursday will be listed at $2,092.00. Its pricing is based on an average for platinum which sits between the range of $1,750.00 and $1,849.99 an ounce.

In setting new coin prices, the United States Mint will generally freeze orders for the affected coins until their prices are adjusted upward. The entire process typically takes a few minutes and occurs between late morning and noon ET.

Visit http://catalog.usmint.gov/ for more information about any of the above coins.

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