Expect to Pay More for American Eagles and Star-Spangled Banner Products

by Rhonda Kay on February 28, 2012 · 8 comments

2011 Proof American Platinum Eagle

The 2011-W Proof Platinum Eagle is one of the U.S. Mint products that is likely to see a higher price

A series of price increases is expected Wednesday for numismatic American Eagles and First Spouse Gold Coins, per recent trends of precious metals on the London Fix. For the same reason, Star-Spangled Banner products released next Monday are likely to cost a bit more than anticipated.

[Update: The U.S. Mint on Wednesday did indeed raise prices on platinum and gold coins. The latest prices are in the table below.]

Each week on Wednesday morning, prices are re-evaluated for United States Mint coins composed of gold and platinum. The price on the proof Platinum Eagle and numismatic gold coins has remained the same for four straight weeks. But precious metals have swung sharply higher in recent days, and coin prices should shoot up as a result.

The London Fix average for gold has moved into the $1,750.00 to $1,799.99 per ounce range. In a similar fashion, platinum has catapulted to between $1,650.00 and $1,749.99 per ounce. These higher levels call for higher coin prices, according to U.S. Mint pricing policy — as long as Wednesday’s upcoming PM fixings agree. In short:

  • If the London gold PM Fix is $1,750.00 or higher, then prices will rise for all U.S. Mint numismatic gold coins
  • If the London platinum PM Fix is $1,650.00 or more, then the price for the proof Platinum Eagle will climb $100

As of this writing, the spot prices for gold and platinum are at $1,786 and $1,721, respectively. Hence, both metals would need to free fall overnight to prevent the following expected price increases.

Likely US Mint Prices for American Eagles and First Spouse Coins

U.S. Mint Product Current Prices Likely Prices Price Increase
Uncirculated First Spouse Coins $1,016.00 $1,041.00 $25.00
Proof First Spouse Coins $1,029.00 $1,054.00 $25.00
American Gold Buffalo $2,010.00 $2,060.00 $50.00
1/10 oz Proof Gold American Eagles $220.50 $225.50 $5.00
Proof Gold American Eagle 4-Coin Set $3,678.00 $3,770.50 $92.50
Proof Platinum American Eagles $1,892.00 $1,992.00 $100

 

Once the United States Mint decides to adjust coin prices, it will typically halt online ordering of the affected products for 30-60 minutes. The process usually begins between 11:00 a.m. and 12:00 p.m. ET on Wednesday.

Expected Prices for Commemorative Star-Spangled Banner Products

On Monday, March 5, the United States Mint will release the new commemorative Star-Spangled Banner products which include two silver dollars, two $5 gold coins and a two-coin proof set. (Read the earlier CoinNews.net article for the latest information on their release.)

The $5 gold coins and two-coin proof set also rely on a coin pricing system based on the London Fix for gold. The following table shows what the upcoming commemorative products would have been priced at today had they launched and what they are expected to be priced at on their actual release date as a result gold’s recent gains.

Star-Spangled Banner Products Prices if Coins Launched Today Expected Prices on Launch Date Price Difference
Proof $5 Coin $517.15 $529.30 $12.15
Uncirculated $5 Coin $507.15 $519.30 $12.15
Two-Coin Proof Set (Proof $5 Gold and Proof Silver Dollar) $567.15 $579.30 $12.15

 

Prices for investment-grade U.S. Mint bullion coins differ from the numismatic versions as bullion coin prices change daily based on the latest value of the precious metal they contain.

{ 8 comments… read them below or add one }

george glazener February 29, 2012 at 7:32 am

Rip off..!!
The coins we’ll be ordering next week were minted weeks if not months ago from silver that was purchased weeks or months before THAT! I hate how they jack up the prices based on the spot silver price de jour.

Brian February 29, 2012 at 8:42 am

George, this article is about gold and platinum coin price increases. I did not read a single word mentioning silver coins.

george glazener February 29, 2012 at 8:56 am

“Expected Prices for Commemorative Star-Spangled Banner Products: On Monday, March 5, the United States Mint will release the new commemorative Star-Spangled Banner products which include two silver dollars, two $5 gold coins and a two-coin proof set. (Read the earlier CoinNews.net article for the latest information on their release.)”

That and the article’s headline certainly give the impression that the Silver coins will be affected. Time will tell…..

jim February 29, 2012 at 11:03 am

The same rules apply when (if) metal prices go down, too. Gold bought at a higher price is sold at a lower price if the current price is lower. These last several years prices have been going up and apparently China’s demand will keep it going up. Maybe in another n years the economy will settle down and prices won’t be so volatile. They’ll probably never go back to pre 2008 prices though.

London silver was $33.18 on Feb 16 and $35.60 yesterday (Feb 28). In 2011 the London prices ranged from $27.75 to $32.54 for the two commemorative silver $ when both sold for $54.95. This year they knocked $5 off for the Infantry silver $ so maybe they’ll keep it down for the Star Spangled Banner silver $ – or not. If they’d just put the silver products in the pricing grid along with gold and platinum all this speculation would go away. But it’s the US Mint and we only have a deputy director running the show so what else can we expect, I guess (although the same problem existed when Moy was in charge so no difference there).

george glazener February 29, 2012 at 2:54 pm

LOL…..and then the silver price crashed today making this whole discussion a complete waste of time. Gotta love it….

Springer February 29, 2012 at 5:12 pm

Don’t count on the price of silver staying down. The Fed and it’s banks aka JP Morgan can only surpress it for so long. What they are really doing is giving silver to China to make the dollar look good.

Eric March 1, 2012 at 7:52 am

The Star Spangled gold coin marked $5 appears to weight 8.359 grams of composite metal (or 7.523 grams of gold (90%)) so therefore coin is roughly ¼ ounce of gold. (31.1 Grams = a Troy Ounce)

The American Eagle gold 1/4 ounce coin is marked $10 and the 1/10 ounce Eagle is marked $5.

Question. Why is the ¼ once Eagle marked $10 and the ¼ ounce Star Spangled marked $5? Is the coin mismarked or is there an error in weights? Is there precedence in Commemoratives?

george glazener March 1, 2012 at 10:40 am

…Or did some clerk at the MINT just make an big time error because (s)he was too busy texting pics of (his)her “you know what” to her friends on FB instead of paying attention to her work?

Happens way more than we think these days.

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