US Mint Commemorative, Gold Coin Price Reductions Expected

by Rhonda Kay on April 10, 2012 · 0 comments

2012 Star-Spangled Banner $5 Gold Commemorative Coins

U.S. Mint numismatic gold coins, including these Star-Spangled Banner commemoratives, are set to have their prices cut Wednesday.

Commemorative gold and other numismatic gold coins from the United States Mint are poised for price cuts Wednesday, April 11, based on the bureau’s pricing policy and the latest direction of the precious metals market.

While the U.S. Mint was using a price bracket of London gold from $1,650.00 to $1,699.99 an ounce, the yellow metal’s weekly average plunged to $1,635 an ounce on Tuesday, thanks in part to a shortened week due to the Easter holiday. If London’s Wednesday AM fixing price is below $1,708.73 and the PM Fix is below $1,650 an ounce, a reduction of respective coin prices is expected.

[Update: Gold coin price reductions DID NOT occur as the directional London PM price for gold was fixed above $1,650 an ounce.]

The likely decrease will range between $5 and $92.50 as demonstrated in the table below.

US Mint Commemorative and Gold Coin Price Cuts

United States Mint Numismatic Gold Coin Current Prices Likely Prices Price Reduction
Uncirculated First Spouse Coins $991.00 $966.00 $25.00
Proof First Spouse Coins $1,004.00 $979.00 $25.00
2011 & 2012 American Buffalo $1,960.00 $1,910.00 $50.00
2011 1/10 oz Proof American Eagle $215.50 $210.50 $5.00
2011 Proof American Gold Eagle 4-Coin Set $3,585.50 $3,493.00 $92.50
2012 Star-Spangled Banner $5 Commemorative – Proof $510.00 $497.85 $12.15
2012 Star-Spangled Banner $5 Commemorative – Uncirculated $500.00 $487.85 $12.15
2012 Star-Spangled Banner Commemorative Two-Coin Set $560.00 $547.85 $12.15

 

Notes:

  • Determining coin prices requires a daily tabulation of the London fixings by the United States Mint from the previous Thursday to the following Wednesday. Those figures are averaged, and then compared against the Mint’s pre-set coin price grid. The PM fixing on Wednesday is used as a directional indicator that can trigger or stop adjustments.

  • The column representing the likely prices is based on a gold average of between $1,600.00 and $1,649.99 an ounce.

  • Uncirculated and proof First Spouse Gold Coins currently for sale by the United States Mint include those honoring Lucretia Garfield, Lucy Hayes, Julia Grant and Eliza Johnson.

Proof Platinum Eagle Not Affected

Presently, platinum is averaging around $1,603 an ounce, which falls between the current range of $1,550.00 to $1,649.99 an ounce used to base the price of the 2011-W Proof American Platinum Eagle. The likelihood of Wednesday’s AM and PM figures falling outside that range is extremely slim, given the fact that the futures market currently has platinum off $24.50 to $1,593.70 an ounce.

If pricing changes are called for, the United States Mint temporarily suspends sales of its collectible gold coins usually between 11:00 a.m. and 12:00 p.m. ET on Wednesday and until all changes are made and tested. The process typically takes less than 30 minutes.

The last time the United States Mint updated prices on its numismatic coins made of gold or platinum was on March 28, 2012 when the Platinum Eagle price was reduced.

{ 0 comments… add one now }

Leave a Comment