US Mint Trims Collector Gold Coin Prices

by CoinNews.net on September 14, 2011 · 0 comments

Proof and Uncirculated 2011 Lucy Hayes First Spouse Gold Coins

The collector Lucy Hayes coins shown above were among the U.S. Mint products to have their prices cut.

The United States Mint on Wednesday cut prices for its range of collector gold coin products, marking the second straight week it adjusted prices on them.

The Mint uses a coin pricing system which predominantly relies on a weekly average of gold — from the previous Thursday to current Wednesday, and how that fits into a ranged grid of prices.

Last week on Tuesday the yellow metal reached an all-time record high of $1,923.70 an ounce. While prices fell from that high, the weekly average still remained within a $1,850.00 to $1,899.99 an ounce range and triggered price hikes. The most recent weekly average pulled the range down one level, between $1,800.00 and $1,849.99 an ounce, which called for the following changes in collector gold coin prices:

New United States Mint Collector Gold Coin Prices

US Mint Numismatic Product Old Price New Price Price Decrease
Uncirculated First Spouse Coins (3) $1,091.00 $1,066.00 $25.00
Proof First Spouse Coins (4) $1,104.00 $1,079.00 $25.00
American Gold Buffalo $2,160.00 $2,060.00 $50.00
1 oz Uncirculated Gold Eagle $2,128.00 $2,078.00 $50.00
1 oz Proof Gold Eagle $2,135.00 $2,085.00 $50.00
1/2 oz Proof Gold Eagle $1,081.00 $1,056.00 $25.00
1/4 oz Proof Gold Eagle $553.00 $540.50 $12.50
1/10 oz Proof Gold Eagle $235.50 $230.50 $5.00
Proof Gold Eagle 4-Coin Set $3,955.50 $3,863.00 $92.50

 

The one-half ounce, 24-karat First Spouse coins affected included both the proof and uncirculated versions honoring Lucy Hayes, Julia Grant and Eliza Johnson as well as the proof honoring Mary Todd Lincoln (the uncirculated version is no longer offered).

United States Mint investment-grade coins, like the bullion versions of the 22-karat American Gold Eagle and 24-karat American Gold Buffalo, do not have fixed weekly prices like proof and uncirculated collector gold coin offerings. They are instead sold for a small amount over the current spot price of the precious metal.

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