US Mint Numismatic Gold and Platinum Coin Prices Poised for Cuts

by Rhonda Kay on June 26, 2012 · 0 comments

American Gold and Platinum Eagle Coins

U.S. Mint collector gold and platinum coin prices should see price reductions on Wednesday.

It seems likely that on Wednesday the United States Mint will lower prices on its numismatic gold and platinum coins, just one week after it raised them.

Gold and platinum prices have declined sharply since Thursday, compared to the previous week. Gold’s average in London is presently hovering near $1,577 an ounce, and platinum’s average is around $1,440 an ounce.

[Update: Coin prices were reduced as expected on Wednesday. Pricing adjustments took longer than typical as sales of the affected coins were suspended for well over an hour. The gold and platinum coins were back on sale by about 1:10 PM ET.]

Currently, the threshold used by U.S. Mint for its gold coin pricing is based on a London Fix gold weekly average of between $1,600.00 and $1,649.99 an ounce. In short, the U.S. Mint will drop coin prices if the Wednesday PM fixing stays under $1,600.00. The event seems likely given that the spot price for gold is at $1,571.60 an ounce.

A similar story is happening for platinum. The U.S. Mint was using a range on the London Fix of $1,450.00 to $1,549.99 an ounce as a basis for its price of the 2011-W Proof American Platinum Eagle. The Platinum Eagle will have its price reduced if the PM fixing comes in below $1,450 an ounce. At the time of this writing, its spot price is $1,422.00 an ounce.

Below is a chart of changes should the U.S. Mint lowers its prices.

Likely US Mint Numismatic Gold and Platinum Coin Prices

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

 

Coin price adjustments typically occur between 11:00-12:00 AM ET.

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