US Mint Likely to Lower Collector Gold Coin Prices

by CoinNews.net on November 22, 2011 · 0 comments

United States Mint Gold Collector Coins

Three of the over one dozen United States Mint collector gold coins which may see price cuts

Collectors should expect the United States Mint on Wednesday to lower prices on its range of numismatic gold coins.

Gold prices plunged last week and dropped further to below $1,700 an ounce on Monday but, while rising Tuesday, have not recovered above the key physiological level as of this writing.

[Editor’s Update: The Mint on Wednesday did in fact lower collector coin prices to those shown below.]

Two weeks ago, the United States Mint raised collector gold coin prices when the weekly London Fix average moved within the Mint’s price setting range of between $1,750.00 and $1,799.99 an ounce. While the Wednesday AM fixing must still be taken into account, the current London Fix average sits at $1,718.75 an ounce. That falls into a lower $1,700.00 to $1,749.99 bracket, which calls for the following reduced coin prices.

Likely US Mint Prices for Collector Gold Coins

United States Mint Product Current Price Expected Price Price Decrease
Uncirculated First Spouse Coins $1,041.00 $1,016.00 $25.00
Proof First Spouse Coins $1,054.00 $1,029.00 $25.00
American Gold Buffalo $2,060.00 $2,010.00 $50.00
1 oz Uncirculated American Gold Eagle $2,028.00 $1,978.00 $50.00
1/2 oz Proof American Eagle $1,031.00 $1,006.00 $25.00
1/4 oz Proof American Eagle $528.00 $515.50 $12.50
1/10 oz Proof American Eagle $225.50 $220.50 $5.00
Proof American Gold Eagle 4-Coin Set $3,770.50 $3,678.00 $92.50
U.S. Army $5 Commemorative Coins – Proof $534.30 $522.15 $12.15
U.S. Army $5 Commemorative Coins – Uncirculated $524.30 $512.15 $12.15
U.S. Medal of Honor $5 Commemorative Coins – Proof $534.30 $522.15 $12.15
U.S. Medal of Honor $5 Commemorative Coins – Uncirculated $524.30 $512.15 $12.15

 

For prices to remain unchanged, the Wednesday AM Fix would have to soar to $2,000 an ounce which would push the average back up, or the directional Wednesday PM fixing would have to climb to at least $1,750.00 an ounce. The latter scenario is certainly not impossible given gold’s recent volatility, but it seems unlikely at this point without a fresh safe-haven-causing instigator in the news.

The United States Mint also monitors platinum prices, but those have not moved sufficiently to result in a price change for the Proof American Platinum Eagle.

When the United States Mint adjusts collector gold coin prices, it normally halts online ordering for the affected products until all changes are made and tested. The process usually begins between 11:00 a.m. and 12:00 p.m. ET on Wednesday and lasts for about 30-60 minutes.

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