US Mint Ends Numismatic Gold Coins Suspensions, Coins Re-Priced Higher

by CoinNews.net on September 7, 2011 · 1 comment

2011 Gold Eagle Proof Coin

This 2011 Proof American Eagle was one of 14 U.S. Mint numismatic gold coins taken off sale for re-pricing.

The United States Mint is again selling its range of numismatic gold coins, but at higher prices.

The bureau had taken more than a dozen products off sale Friday when volatility rocked the precious metals market and gold traded above $1,880 an ounce.

If it needs to, the United States Mint normally and briefly halts the sale of collector gold coins each Wednesday in order to re-price them lower or higher. On Friday, the Mint jumped its normal timetable and halted sales for the extended period on 14 numismatic gold products, saying at the time that the gold coins would return for sale on Wednesday. They did return, at the following adjusted prices:

Re-priced United States Mint Numismatic Gold Coins

US Mint Numismatic Product Pre-Suspension Price Current Price Price Increase
Uncirculated First Spouse Coins (3) $1,041.00 $1,091.00 $50.00
Proof First Spouse Coins (4) $1,054.00 $1,104.00 $50.00
American Gold Buffalo $2,060.00 $2,160.00 $100.00
1 oz Uncirculated Gold Eagle $2,028.00 $2,128.00 $100.00
1 oz Proof Gold Eagle $2,035.00 $2,135.00 $100.00
1/2 oz Proof Gold Eagle $1,031.00 $1,081.00 $50.00
1/4 oz Proof Gold Eagle $528.00 $553.00 $25.00
1/10 oz Proof Gold Eagle $225.50 $235.50 $10.00
Proof Gold Eagle 4-Coin Set $3,770.50 $3,955.50 $185.00

 

United States Mint coin pricing methodology uses an average for gold based on AM and PM London fixings from the previous Thursday to current Wednesday. (See the Mint pricing criteria.) The gold pricing range used by the Mint prior to the suspensions fell between $1,750.00 an ounce and $1,799.99 an ounce. The current coin prices are based on a range between $1,850.00 an ounce and $1,899.99 an ounce, or two levels higher. The average of the yellow metal will need to move outside this range for further adjustments to occur.

Also suspended Friday after silver touched $43.50 an ounce were the 2010 United States Mint Silver Proof Set and the 2010 United States Mint America the Beautiful Quarters Silver Proof Set. They remain unavailable as of this writing. That situation will continue until silver prices fall sufficiently or the Mint publishes new prices in the Federal Register.

Precious metals have continued their volatile mood, suggesting a higher likelihood of future coin suspensions. In London on Wednesday, gold dropped $85 to $1,810.00 an ounce while silver fell 87 cents to $40.98.

{ 1 comment… read it below or add one }

steve g September 8, 2011 at 10:31 pm

How much longer are they going to sell the 2010 Mint/Proof sets? You would think the Mint would take the silver sets off the market. One less silver item to fret about.

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