Prices for US Numismatic Gold and Platinum Coins Set to Rise

by CoinNews.net on January 31, 2012 · 0 comments

American Gold and Platinum Eagle Coins

Two of more than a dozen U.S. coins that are expected to have their prices increased on Wednesday.

Prices for United States Mint numismatic gold and platinum coins are poised for increases Wednesday, based on trending prices of the precious metals they contain.

Unless strong reversals in precious metals appear rapidly, the U.S. Mint will raise prices on eight of its First Spouse Gold Coins, three of its numismatic American Gold Eagle products, its proof American Gold Buffalo and its proof American Platinum Eagle coin.

In a nutshell, for coin prices to remain unchanged, Wednesday’s London PM fix for gold would need to plunge below $1,700 an ounce and platinum would need to drop under $1,550 an ounce. In current U.S. spot prices, gold is near $1,736, or down about $8 from the latest London fixing, and platinum is toward $1,581 for a fall of about $43.

[Update: The U.S. Mint increased prices as expected for its gold and platinum coins. The new pricing is shown below in the "Likely Prices" column.]

Coin pricing policies from the United States Mint use a weekly average of precious metals that is calculated from the previous Thursday AM London Fix to the current Wednesday AM Fix. The Wednesday PM Fix is then used as a directional component to make the final pricing calls. Last week, the average for gold moved between $1,650.00 and $1,699.99 per ounce which triggered higher prices for numismatic gold coins. Two weeks ago, the proof Platinum Eagle price went higher when the average for platinum moved up within $1,450.00 and $1,549.99 an ounce.

Currently, the averages are handily within higher ranges of $1,700.00 to $1,749.99 for gold and $1,550.00 to $1,649.99 for platinum, making the Wednesday AM Fix for both metals virtually irrelevant. As such, coin prices will be raised unless they are held in check by the directional PM fixings.

The following grid offers a view into expected coin prices. That is, unless precious metals plummet overnight.

Likely US Mint Prices for Numismatic Gold and Platinum Coins

Numismatic Coins Current Price Likely Price Price Increase
2011-W Proof American Platinum Eagle $1,792.00 $1,892.00 $100.00
Uncirculated First Spouse Coins $991.00 $1,016.00 $25.00
Proof First Spouse Coins $1,004.00 $1,029.00 $25.00
Proof Gold Buffalo $1,960.00 $2,010.00 $50.00
1/2 oz Proof Gold Eagle $981.00 $1,006.00 $25.00
1/10 oz Proof Gold Eagle $215.50 $220.50 $5.00
Proof Gold Eagle 4-Coin Set $3,585.50 $3,678.00 $92.50

 

When needed, the U.S. Mint typically adjusts prices on its coins between 11:00 a.m. and 12:00 p.m. ET on Wednesday. The process can take 30-60 minutes — a time in which the affected coins cannot be ordered.

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