Prices May Rise for US Mint Numismatic Platinum and Gold Coins

by Rhonda Kay on June 20, 2012 · 0 comments

American Gold and Platinum Eagle Coins

Two of more than a dozen U.S. coins that should see price increases on Wednesday.

It looks as though prices will rise for U.S. Mint numismatic gold coins, commemorative gold coins, and platinum coins, if prices of the precious metals they contain do not drop significantly on Wednesday. Recent trends of gold and platinum prices in the London market show a consistent up tick of prices since last Thursday.

In a nutshell, seventeen gold coin prices will change unless the Wednesday’s London PM fix for gold plummets below $1,600.00 an ounce.

[Update: The U.S. Mint updated the numismatic coin prices before noon ET. New prices are provided below.]

Affected coins include six of its First Spouse Gold Coins, six of its numismatic American Gold Eagle products, two of its proof American Gold Buffalo coins, and three of its Star-Spangled Banner commemorative gold products. For the proof American Platinum Eagle coin, its price will change unless platinum’s PM fix falls below $1,450.00 an ounce.

The United States Mint evaluates a weekly average price of the two precious metals on the London Fix to decide whether its coin prices need adjusting. The formula includes figures from Thursday’s AM fix to Wednesday’s AM fix. Then, the Wednesday PM fix is the last indicator.

The current range that was in place allowed the weekly average London Fixes for gold to fluctuate between $1,550.00 to $1,599.99 an ounce and platinum to vary between $1,350.00 to $1,449.99 an ounce. Yet the averages as of Tuesday PM came to $1,621.87 an ounce for gold and $1,487.12 for platinum, making the Wednesday AM Fixes for each nearly inconsequential.

The latest U.S. spot prices have gold near $1,623 an ounce and platinum around $1,484 an ounce. Essentially, coin prices are going to rise by one tier on the U.S. Mint price grid unless precious metals tumble by the Wednesday PM fixing.

The table below describes the expected rise of coin prices.

Likely US Mint Commemorative, Gold, and Platinum Coin Price Increases

Numismatic Product Current Prices Likely Prices Price Increase
Uncirculated First Spouse Coins $941.00 $966.00 $25.00
Proof First Spouse Coins $954.00 $979.00 $25.00
2011-2012 American Buffalo $1,860.00 $1,910.00 $50.00
2012 1 oz Proof American Eagle $1,835.00 $1,885.00 $50.00
2012 1/2 oz Proof American Eagle $931.00 $956.00 $25.00
2012 1/4 oz Proof American Eagle $478.00 $490.50 $12.50
2012 1/10 oz Proof American Eagle $205.50 $210.50 $5.00
2011-2012 Proof American Gold Eagle 4-Coin Set $3,400.50 $3,493.00 $92.50
2012 Star-Spangled Banner $5 Commemorative – Proof $485.70 $497.85 $12.15
2012 Star-Spangled Banner $5 Commemorative – Uncirculated $475.70 $487.85 $12.15
2012 Star-Spangled Banner Commemorative Two-Coin Set $535.70 $547.85 $12.15
2011-W Proof American Platinum Eagle $1,692.00 $1,792.00 $100

 

Notes:

  • The column for expected prices is based on an average for gold that is between $1,600.00 and $1,649.99 an ounce. The expected price for platinum is based on an average of between $1,450.00 and $1,549.99.

  • Uncirculated and proof First Spouse Gold Coins for sale by the United States Mint at the time of this writing honor Lucretia Garfield and Lucy Hayes. The uncirculated coin honoring Julia Grant and the proof coin honoring Eliza Johnson are also available.

  • Usually, when the United States Mint changes its coin prices, it will temporarily suspend online ordering of the affected products until all the adjustments are tweaked and tested. The process typically begins sometime between 11:00 a.m. and 12:00 p.m. ET on Wednesday and lasts less than 30 minutes.

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