U.S. Mint pricing cuts are possible Wednesday for numismatic platinum and gold coins as a result of falling precious metals.
Price tags for gold coins will decline if Wednesday’s London AM Fix price for gold is below $1,909.47 an ounce and the London PM Fix is below $1,750.00 an ounce. Gold is currently sitting close to $1,711 an ounce.
Pricing will also drop for the 2012-W Proof American Platinum Eagle if the London AM Fix price for platinum is below $1,878.97 an ounce and the London PM Fix is below $1,650.00 an ounce. Currently, the precious metal is near $1,576 an ounce.
[Update: The U.S. Mint reduced prices of platinum and gold coins before noon ET on Wednesday. New prices are listed below in the "Possible Price" column.]
The table below shows U.S. Mint numismatic products and the possible pricing adjustments.
Current and Possible Platinum and Gold Coin Prices
|Numismatic Product||Current Price||Possible Price||Price Decrease|
|Proof First Spouse Gold Coins||$1,054.00||$1,029.00||$25.00|
|Uncirculated First Spouse Gold Coins||$1,041.00||$1,016.00||$25.00|
|2011-2012 Proof American Gold Buffalo||$2,060.00||$2,010.00||$50.00|
|2012 Proof American Gold Eagle (1 oz)||$2,035.00||$1,985.00||$50.00|
|2012 Proof American Gold Eagle (1/2 oz)||$1,031.00||$1,006.00||$25.00|
|2012 Proof American Gold Eagle (1/4 oz)||$528.00||$515.50||$12.50|
|2012 Proof American Gold Eagle (1/10 oz)||$225.50||$220.50||$5.00|
|2011-2012 Proof American Gold Eagle 4-Coin Set||$3,770.50||$3,678.00||$92.50|
|2012 Uncirculated American Eagle (1 oz)||$2,028.00||$1,978.00||$50.00|
|2012 Proof Star-Spangled Banner $5 Commemorative Gold Coins||$534.30||$522.15||$12.15|
|2012 Uncirculated Star-Spangled Banner $5 Commemorative Gold Coins||$524.30||$512.15||$12.15|
|2012 Star-Spangled Banner Commemorative Two-Coin Set||$584.30||$572.15||$12.15|
|2012 Proof American Platinum Eagle||$1,992.00||$1,892.00||$100.00|
As a note, sales will end December 17, 2012 for the commemorative coins listed above.
U.S. Mint Gold and Platinum Coin Pricing Methodology
The United States Mint bases its coin pricing policy, for numismatic items containing either gold or platinum, on weekly averages of the precious metal the coins contain.
Evaluations take place every Wednesday. London fixings from the previous Thursday AM through to the following Wednesday AM are used to calculate the weekly average. Then, the U.S. Mint looks to the Wednesday PM fixing as a directional tool. If coin price adjustments are needed, the U.S. Mint typically freezes 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.
Gold prices last changed, upward, on Wednesday, September 19, 2012.