Another Round of US Platinum and Gold Coin Price Increases Possible

by CoinNews.net on September 18, 2012 · 4 comments

American Gold and Platinum Eagle Coins

Odds are favorable that the U.S. Mint will raise gold coin prices Wednesday. There is less of a chance for an increase in the Platinum Eagle.

Another round of U.S. Mint platinum and gold coin price increases is possible on Wednesday due to consistently higher precious metals prices.

The bureau raised prices on fifteen collector coin products less than a week ago, and will again if London precious metals maintain recent gains.

Chances are best for higher priced gold coins. Their price tags will rise Wednesday if the London AM Fix price for gold is at least above $1,674.70 an ounce and the London PM Fix is at or above $1,750.00 an ounce. Gold is currently hovering around $1,772 an ounce.

Pricing could go higher for the U.S. Mint’s 2012-W Proof American Platinum Eagle, but chances for that have slimmed as platinum has plunged more than $70 since Monday. For the Eagle’s price to increase Wednesday, the London AM Fix price for platinum must only be above $1,435.95 an ounce, but the London PM Fix must get back at or above $1,650.00 an ounce. The precious metal is currently sitting near $1,625 an ounce.

[Update: The U.S. Mint on Wednesday did raise prices on its numismatic gold coins, but did not increase the price of the Platinum Eagle. The new prices are found in the "possible" column below.]

The following grid offers a view into the current and possible platinum and gold coin prices:

Current and Possible US Mint Platinum and Gold Coin Prices

Numismatic Platinum or Gold Coin Current Price Possible Price Price Increase
Proof Lucretia Garfield First Spouse Gold Coin $1,029.00 $1,054.00 $25.00
Proof Lucy Hayes First Spouse Gold Coin $1,029.00 $1,054.00 $25.00
2011-2012 Proof American Gold Buffalo $2,010.00 $2,060.00 $50.00
2012 Proof American Gold Eagle (1 oz) $1,985.00 $2,035.00 $50.00
2012 Proof American Gold Eagle (1/2 oz) $1,006.00 $1,031.00 $25.00
2012 Proof American Gold Eagle (1/4 oz) $515.50 $528.00 $12.50
2012 Proof American Gold Eagle (1/10 oz) $220.50 $225.50 $5.00
2011-2012 Proof American Gold Eagle 4-Coin Set $3,678.00 $3,770.50 $92.50
2012 Uncirculated American Eagle (1 oz) $1,978.00 $2,028.00 $50.00
2012 Proof Star-Spangled Banner $5 Commemorative $522.15 $534.30 $12.15
2012 Uncirculated Star-Spangled Banner $5 Commemorative $512.15 $524.30 $12.15
2012 Star-Spangled Banner Commemorative Two-Coin Set $572.15 $584.30 $12.15
2012 Proof American Platinum Eagle $1,892.00 $1,992.00 $100.00

 

U.S. Mint Platinum and Gold Coin Pricing Methodology

Using weekly precious metal averages along with a ranging system (see this PDF), the U.S. Mint may adjust platinum and gold coin prices up to once a week. Averages for metals are calculated using London fixings from the previous Thursday AM through to the following Wednesday AM. The U.S. Mint then uses Wednesday PM fixings as a deciding component.

When Wednesday coin pricing adjustments are needed, the U.S. Mint tends to freeze online ordering of the affected coins — sometime between 11:00 a.m. and 12:00 p.m. ET — until the changes are made and tested.

Prices last changed on Wednesday, September 12, 2012.

{ 4 comments… read them below or add one }

Joe September 18, 2012 at 7:29 pm

Buy silver.

jim September 18, 2012 at 9:31 pm

Whatever you do, don’t buy from the mint.

Now if one could only tell when prices are going to peak…

Terry September 19, 2012 at 7:17 am

As silver climbs and the premium in the ATB 5oz MS pucks gets smaller, is there an argument for stocking up on these at $204 per (aprox $40.75 ounce melt value)?

The production is low and when I compare them to silver eagles, there’s not much difference. There’s a silver play and maybe a collectors play – especially on the Hawaii puck coming out soon. Thoughts? Thanks…

Joe September 19, 2012 at 9:28 am

I’d jump on it before they raise the price. They are more collectible than the 5 oz ATB bullion pucks and you’re in it for the long run. If you’re not and you sell them you’re going to get a little over melt value. Its a good deal.

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