US Numismatic Platinum and Gold Coin Price Increases Expected

by CoinNews.net on September 12, 2012 · 5 comments

American Gold and Platinum Eagle Coins

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

United States Mint pricing for its numismatic platinum or gold coins have been raised three times since early August. Another round of increases is expected on Wednesday, September 12, 2012.

Precious metals have been rallying of late. Last week alone, gold and platinum in London surged 4.8% and 5.0%, respectively. The U.S. Mint watches the market prices of these two metals specifically to determine whether to adjust prices on its coins made from them.

[Update: The U.S. Mint, as expected, raised prices on all of its numismatic platinum and gold coins.]

Based on projections, the U.S. Mint by noon ET is likely to increase prices on the following numismatic products:

Likely Numismatic Platinum and Gold Coin Prices

Numismatic Platinum or Gold Coin Current Price New Price Price Increase
Proof Lucretia Garfield First Spouse Gold Coin $1,004.00 $1,029.00 $25.00
Proof Lucy Hayes First Spouse Gold Coin $1,004.00 $1,029.00 $25.00
2011-2012 Proof American Gold Buffalo $1,960.00 $2,010.00 $50.00
2012 1 oz Proof American Gold Eagle $1,935.00 $1,985.00 $50.00
2012 1/2 oz Proof American Gold Eagle $981.00 $1,006.00 $25.00
2012 1/4 oz Proof American Gold Eagle $503.00 $515.50 $12.50
2012 1/10 oz Proof American Gold Eagle $215.50 $220.50 $5.00
2011-2012 Proof American Gold Eagle 4-Coin Set $3,585.50 $3,678.00 $92.50
2012 1 oz Uncirculated American Eagle $1,928.00 $1,978.00 $50.00
2012 Proof Star-Spangled Banner $5 Commemorative $510.00 $522.15 $12.15
2012 Uncirculated Star-Spangled Banner $5 Commemorative $500.00 $512.15 $12.15
2012 Star-Spangled Banner Commemorative Two-Coin Set $560.00 $572.15 $12.15
2012 Proof American Platinum Eagle $1,792.00 $1,892.00 $100.00

 

How U.S. Mint Numismatic Platinum and Gold Coin Pricing Works

Using weekly precious metals averages and a pre-determined ranging system, the U.S. Mint may adjust platinum and gold coin prices up to once a week. Averages for the precious metals are calculated from London fixings on the previous Thursday AM through to the following Wednesday AM. It also uses Wednesday PM fixings as a directional, or deciding, component.

Price Triggering Events to Watch Wednesday

In short, because gold and platinum prices have advanced consistently, their weekly averages are easily enough to trigger higher coin prices. The only thing to prevent that would be plunging Wednesday PM fixings. The two factors to watch:

  • If the PM Fix for gold is above $1,700 an ounce, gold coin prices will rise. That is likely given Tuesday’s PM fixing price for the yellow metal was $1,736.75 an ounce.

  • If the PM Fix for platinum is above $1,550 an ounce, then platinum coin prices will rise. That is also likely since Tuesday’s PM fixing price for platinum was $1,606.00 an ounce.

Should the above price events occur and based on past practices, the U.S. Mint on Wednesday will halt sales of its platinum and gold coins for several minutes between 11:00 a.m. and 12:00 p.m. ET. Sales will resume once all the coin prices are adjusted.

{ 5 comments… read them below or add one }

Joe September 12, 2012 at 12:46 am

It’s funny that they did not mention silver yet.

jim September 12, 2012 at 12:47 am

Sometimes it pays to buy early (if you’re going to sell later).

bill September 14, 2012 at 2:13 am

rightly so jim, timing is everything

i am considering some 5oz P pucks.
only 6-7 bucks over spot
as opposed to the hot springs i have at $57/oz

Joe, do you think the mint is trying to unload some by not raising the price?

Joe September 14, 2012 at 12:45 pm

bill, your best bet is to buy a roll of 20 1 oz, gem brilliant uncirculated silver eagles at $789. That’s $39.45 an ounce at Modern Coin Mart.com before they raise the price of silver. A month ago today silver was $27.75 an ounce. As of right now its $34,67 and climbing slowly but surely.

Joe September 16, 2012 at 12:25 am

A roll of 20 went down to $772.33. And a lunar 2013 silver round is $37.19 right now.

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