US Mint May Hike Prices on Collector Gold and Commemorative Coins

by CoinNews.net on October 11, 2011 · 0 comments

2011 Commemorative Gold Coins

The United States Mint may raise prices on collector gold and commemorative coins.

As a result of higher trending precious metals, prices for United States Mint collector gold and commemorative coins may increase Wednesday, October 12. (See possible coin prices.)

If price hikes occur, they would mark a sixth straight week that the Mint has adjusted prices for its collector gold coins. But moving coins higher would also break a streak of four straight weeks where prices had been cut.

[Update: The below referenced price increases were implemented by the United Stats Mint by noon Wednesday.]

To determine coin prices, the Mint tabulates daily London fixings from the previous Thursday to the following Wednesday, calculates their average and then checks where that average falls within a pre-defined pricing range. As an example, the United States Mint reduced coin prices last Wednesday when the weekly average for London gold fell within a lower range of between $1,600.00 and $1,649.99 an ounce.

This week the average looks to be headed within a higher range of between $1,650.00 and $1,699.99 an ounce, which calls for price hikes. In fact, as long as the Wednesday AM fix is $1,612.46 an ounce or higher and the subsequent PM fix stays above $1,649.99 an ounce, coin prices will be adjusted based on the higher range and to the following levels:

Gold and Commemorative Coin Prices & Possible Price Hikes

US Mint Gold Product Current Price Possible Price Price Increase
Uncirculated First Spouse Coins $966.00 $991.00 $25.00
Proof First Spouse Coins $979.00 $1,004.00 $25.00
American Gold Buffalo $1,910.00 $1,960.00 $50.00
1 oz Uncirculated Gold Eagle $1,878.00 $1,928.00 $50.00
1 oz Proof Gold Eagle $1,885.00 $1,935.00 $50.00
1/2 oz Proof Eagle $956.00 $981.00 $25.00
1/4 oz Proof Eagle $490.50 $503.50 $12.50
1/10 oz Proof Eagle $210.50 $215.50 $5.00
Proof Gold Eagle 4-Coin Set $3,493.00 $3,585.50 $92.50
U.S. Army $5 Commemorative Coins – Proof $497.85 $510.00 $12.15
U.S. Army $5 Commemorative Coins – Uncirculated $487.85 $500.00 $12.15
U.S. Medal of Honor $5 Commemorative Coins – Proof $497.85 $510.00 $12.15
U.S. Medal of Honor $5 Commemorative Coins – Uncirculated $487.85 $500.00 $12.15

 

The Mint has been adjusting collector gold coins using the described method for several years. It only began adjusting prices for its commemorative coins composed of the yellow metal since August. (Learn about the Mint’s Commemorative Coin Price Guide.)

When the United States Mint changes coin prices, it will typically freeze online ordering of the affected products for 30-60 minutes. The process usually begins between 11:00-12:00 p.m. ET.

For more information on any of the above products, visit the Mint’s website at http://www.usmint.gov/catalog.

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

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