US Mint Numismatic and Commemorative Gold Coin Prices Set for Decrease

by CoinNews.net on December 13, 2011 · 4 comments

2011 Commemorative Gold Coins

U.S. Mint numismatic gold coins, including the commemoratives set to permanently go off sale Friday, are poised for price cuts Wednesday.

Lower prices for several United States Mint numismatic gold coins should arrive Wednesday. American Buffalos, American Eagles, commemorative and First Spouse coins are poised for a price decrease based on the Mint’s pricing policy to make adjustments on its numismatic gold products when the prevailing price of gold moves significantly.

The current threshold for United States Mint numismatic gold coin prices is based on a London Fix weekly average of between $1,700.00 and $1,749.99 an ounce. The latest average is a few dollars below $1,700 an ounce.

Expect the Mint to drop prices across the board Wednesday, unless the yellow metal rises to $1,748 an ounce or higher for the Wednesday AM Fix or the Wednesday PM Fix is $1,700 an ounce or more — these odds appear small given the metal’s current spot price of $1,635 an ounce.

Based on past adjustments, it is anticipated that the United States Mint will temporarily halt sales of the affected numismatic products around 11:00 a.m. — 12:00 p.m. ET to reintroduce them several minutes later at the the following expected prices:

Likely US Mint Numismatic and Commemorative Gold Coin Prices

United States Mint Numismatic Gold Product Current Prices Expected Prices Price Decrease
Uncirculated First Spouse $1,016.00 $991.00 $25.00
Proof First Spouse $1,029.00 $1,004.00 $25.00
American Buffalo $2,010.00 $1,960.00 $50.00
1 oz Uncirculated American Eagle $1,978.00 $1,928.00 $50.00
1/2 oz Proof American Eagle $1,006.00 $981.00 $25.00
1/4 oz Proof American Eagle $515.50 $503.00 $12.50
1/10 oz Proof American Eagle $220.50 $215.50 $5.00
Proof American Gold Eagle 4-Coin Set $3,678.00 $3,585.50 $92.50
U.S. Army $5 Commemorative – Proof $522.15 $510.00 $12.15
U.S. Army $5 Commemorative – Uncirculated $512.15 $500.00 $12.15
U.S. Medal of Honor $5 Commemorative – Proof $522.15 $510.00 $12.15
U.S. Medal of Honor $5 Commemorative – Uncirculated $512.15 $500.00 $12.15

 

The last time the United States Mint updated prices on its collector gold coins was on November 23 when prices were reduced.

Platinum prices, on the other hand, have not moved enough to result in a price change for the Proof American Platinum Eagle. Its price will remain at $1,792.00 as long as the average on the London Fix for platinum is between $1,450.00 and $1,549.99.

In other availably news, each of the commemorative coins above will permanently go off sale on Friday with a deadline ordering time of 5:00 p.m. ET.

{ 4 comments… read them below or add one }

Charleston Voice December 14, 2011 at 10:53 am

Will Nickels and Pennies Soon Disappear?

Back in December 2006, the US Mint, in yet another power grab over economic life, made it illegal to melt pennies and nickels in addition to exporting large quantities of either. Though the Mint admitted there was no evidence coin melting was occurring, this was the government’s attempt at being proactive to prevent the destruction of its legally imposed currency…

http://chasvoice.blogspot.com/2011/12/will-nickels-and-pennies-soon-disappear.html

A&L Futures December 14, 2011 at 4:51 pm

Michael – I need your help.

Why is it that if today’s SPOT price for gold wasn’t taken into consideration for today’s U.S. Mint weekly adjustment for its gold products? I was expecting a two (or possibly) three tier adjustment. What gives?

Blue December 14, 2011 at 5:08 pm

Did anyone notice that the mint lowered the price of the gold commemorative coins to $497.85 for the proof, $487.85 for unc, only to raise the price back up 4 hours later to $512.15 for the proof and $500.00 for the unc. With the velocity of the gold market, anyone who would purchase these gold commemoratives at this time would be throwing good money away.
Your best bet would be to go to a local coin show and purchase these commemorative gold coins. No sells tax and shipping. That is what I’m going to do.

Stephen December 17, 2011 at 12:36 pm

I believe the Perth Mint’s for-sale-coins are adjusted each day for world prices.
Why couldn’t the US Mint get with the same program?
The Mint should make arrangements to re-open the Carson City Mint and sell limited amounts of coins direct to the public on a limited basis. The selling of the 25th Anniversary Silver Set with limits wasn’t advertised well. It seems a limited few got the sets and then kicked them back to the public that had missed purchase for a significant profit.

The Mint should insure that the public gets a better shake than they did with these silver sets and enroll everyone on a membership basis to take a small minimum of these special event coins so you don’t have to see eBay with pages and pages of the Silver Dollar Sets and coins for sale at a great premium to the folks who weren’t properly informed of the sale by the Mint.

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