US Platinum and Gold Coins Poised for Price Reductions

by Rhonda Kay on October 23, 2012 · 5 comments

U.S. Mint pricing cuts are possible Wednesday for numismatic platinum and gold coins as a result of falling precious metals.

2012 Alice Paul Suffrage Movement Gold Coins

The newly released proof and uncirculated 2012 Alice Paul Suffrage Movement Gold Coins are among the U.S. Mint numismatic products that should see price reductions

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.

{ 5 comments… read them below or add one }

jim October 23, 2012 at 9:33 pm

Yea, keep on going down. I don’t want to pay more than $1,000 for a proof Alice which means gold has to drop another $100 at least. Maybe next year…

Kevin October 24, 2012 at 12:43 am

I wish the mint would have similar pricing charts for silver.

jim October 24, 2012 at 9:06 am

I do too, but I think silver pricing is where they hide all their skeletons and screw-ups but can still make a profit. It shouldn’t be political but in government if you’re not telling something you’re hiding something.

Mike October 24, 2012 at 6:55 pm

Oh the irony! Now Chester Arthur was unmarried. So low and behold the Mint sticks a “Suffragette’ with him to form the required union sale agenda. Juxtaposing, a diametrically apposed social ambivalence, these days, would be like linking Andrew Dice Clay with Eleanor Smeal. If a man won’t marry you just wait a hundred years or so, The Mint Will.

jim October 24, 2012 at 7:59 pm

Arthur’s wife died before he took office. Alice was born while Arthur was in office. Congress, not the mint, picked Alice and described the coin in the law – clearly a commemorative coin (i.e. no reference at all to Arthur or the presidency) rather than a spouse ‘Liberty’ coin. While I don’t care for the First Spouse series I’ll buy the Alice as the commemorative coin I think Congress intended it to be.

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