US Mint Likely to Raise Prices on Numismatic Gold Coins

by Rhonda Kay on January 10, 2012 · 1 comment

Proof and Uncirculated 2011 Lucy Hayes First Spouse Gold Coins

These Lucy Hayes First Spouse Gold Coins are among United States Mint products that are likely to see higher prices Wednesday.

Numismatic gold coins, including American Eagles, First Spouse coins, and the American Buffalo, should see price increases Wednesday due to the United States Mint’s policy of adjusting certain coin prices based on a weekly average of gold.

[Update: The Mint raised coin prices Wednesday as expected. The new prices are found in the below table.]

The current pricing threshold for U.S. Mint numismatic gold coins is between $1,550.00 and $1,599.99 an ounce. But the current market value of the yellow metal has been moving up, and now the average is well above $1,600 an ounce.

Unless London gold plunges under $1,451.90 an ounce for Wednesday’s AM Fix or the Wednesday PM Fix dips below $1,600 an ounce, expect the United States Mint to temporarily halt sales of the affected numismatic products around 11:00 a.m. – 12:00 p.m. ET and reintroduce them minutes later at the following higher prices.

Likely Prices on U.S. Mint Numismatic Gold Coins

Numismatic Gold Coins Current Prices Expected Prices Price Increase
Uncirculated First Spouse Coins $941.00 $966.00 $25.00
Proof First Spouse Coins $954.00 $979.00 $25.00
American Buffalo Coins $1,860.00 $1,910.00 $50.00
Uncirculated American Eagle (1 oz) $1,828.00 $1,878.00 $50.00
Proof American Eagle (1/2 oz) $931.00 $956.00 $25.00
Proof American Eagle (1/10 oz) $205.50 $210.50 $5.00
Proof American Gold Eagle 4-Coin Set $3,400.50 $3,493.00 $92.50

 

Expected price cuts listed for the First Spouse coins include those honoring Lucretia Garfield, Lucy Hayes, Julia Grant and Eliza Johnson.

The most recent gold PM Fix was $1,637.00 an ounce and New York gold prices for February delivery closed Tuesday at $1,631.50 an ounce, jumping $23.40 from Monday’s closing price. These levels indicate it is unlikely for a sudden drop Wednesday to stave off a change on coin prices.

The U.S. Mint last adjusted prices on the above coins on December 21.They were lowered by two tier levels since gold prices had dramatically fallen.

United States Mint bullion coins, having a different finish and lacking a mint mark like their numismatic counterparts, experience price adjustments daily.

{ 1 comment… read it below or add one }

george glazener January 11, 2012 at 9:49 am

Well, isn’t that special? That ought to do a lot for sales…!!

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