US Mint Coin Prices to Fall; 2013-W Proof Gold Eagles Set

by Mike Unser on April 16, 2013 · 12 comments

2012-W Proof American Platinum Eagle Coin

The 2012-W Proof American Platinum Eagle Coin is among U.S. products to likely see price cuts Wednesday

Recent and sharp declines in precious metals will trigger pricing cuts Wednesday, April 17, for several platinum and gold coins sold by the United States Mint.

Wednesday is also decision day for tagging prices to the 2013-W Proof American Gold Eagles. This year’s proof Gold Eagles make their sales debut on Thursday, April 18.

Typically and when needed due to swings in precious metals, the U.S. Mint each Wednesday adjusts platinum and gold coin prices near 12:00 noon ET.

Below is a table of the most likely pricing changes for current coins and the likely opening coin prices for the 2013-W Proof Gold Eagles.

Update: The U.S. Mint on Wednesday adjusted its pricing as expected. New levels are shown in "Coin Prices" column below.

Products Current Coin Prices Coin Prices
2013 Proof 5-Star Generals $5 Gold Coins $485.50 $461.20
2013 Uncirculated 5-Star Generals $5 Gold Coins $480.50 $456.20
2013 5-Star Generals Three-Coin Proof Sets  $546.50 $522.20
2012 Proof First Spouse Gold Coins  $990.00 $940.00
2012 Uncirculated First Spouse Gold Coins  $970.00 $920.00
2012-W Proof Platinum Eagle  $1,900.00 $1,850.00
2013-W Proof Gold Eagles (1 oz) N/A $1,810.00
2013-W Proof Gold Eagles (1/2 oz) $920.00
2013-W Proof Gold Eagles (1/4 oz) $472.50
2013-W Proof Gold Eagles (1/10 oz) $200.00
2013-W Proof Gold Eagle Four-Coin Set  $3,352.50

 

Deciding Factors

U.S. Mint prices for numismatic platinum and gold products is determined weekly based on averaging London precious metals fixings from the previous Thursday AM to current Wednesday AM. The Wednesday PM fixing is also used as a directional component.

Coin prices were last adjusted based on weekly averages for gold of between $1,550.00 and $1,599.99 an ounce and for platinum from $1,500.00 to $1,549.99 an ounce. While this Wednesday’s AM fixings must be added into the mix, currently both precious metals are comfortably falling to within a new range of between $1,450.00 and $1,499.99 an ounce. If this range sticks, prices for gold coins will drop by two tier levels and the platinum coin by one.

In other coin new, the U.S. Mint on Monday suspended three silver products as a result of tumbling silver prices.

{ 12 comments… read them below or add one }

Boz April 17, 2013 at 1:24 pm

I would think the first spouse price drop would cause them to start selling out fairly quickly. They were already approaching the sales levels of the previously-sold out 2012’s.

A&L Futures April 17, 2013 at 1:51 pm

I’m curious.

What the “frack” is up with the 2013 5-Star General Commemorative Uncirculated $5 Gold Coin (5G2), priced at $468.35? I just compared this price to the “published” 2013 Pricing of Numismatic and Commemorative Gold and Platinum Products and it doesn’t fall within the $1,450 – $1549.99 range.

The same goes for the 2013 5-Star General Commemorative Proof $5 Gold Coin (5G1), priced at $473.35.

Would anyone care to chime-in?

Mike Unser April 17, 2013 at 1:55 pm

A&L Futures,

I’ve contacted the U.S. Mint about the pricing for the gold commemoratives. For those, it appears they inadvertently applied pricing that was one tier lower instead of two. The other coins, including the prices for the upcoming proof Gold Eagles, are correct.

Update: Coin prices are updated on the Mint’s side now.

A&L Futures April 17, 2013 at 2:55 pm

@ M. Unser

Thanks! I was looking forward to the price reduction. For those who placed their order(s) (following the price reduction(s)), I wonder if they caught this error? It may only be $12, but that’s a lot of money to simply give away.

Joe#2 April 17, 2013 at 4:04 pm

Tomorrow the a.g.e.’s coming out at $1;810.00?
The price should be $1,710.00 for the proof according to the “price grid”
If gold is between $1,350.00- $1399.99, price should be $1,710.00.
I think i’ll pass. unreal.

Joe#2 April 17, 2013 at 4:27 pm

I wasn’t aware, But I called the mint and they told me it goes according to a 2 week average. Since gold really dropped heavy last Friday and Monday, It wouldn’t “count” to the $1,750.00 price. Like they say, “fight city hall”…lol

Joe#2 April 17, 2013 at 4:29 pm

My error, I meant to say $1,710.00 price, Not $1,750.00

Bubba April 17, 2013 at 5:52 pm

The 5 oz Chaco is unavailable due to repricing as well as silver American Eagles. So, it looks like the price of those will go down as well. They
kind of screw the people that buy early.

Charles April 17, 2013 at 11:39 pm

I was thrilled to get a message from a friend about the silver price crash. I checked it for myself on the market updates on Merit Gold and it was unbelievable to see such a sharp decline in precious metal markets. Some mark this time as the best time to stack the white metal.

Bubba April 18, 2013 at 12:58 pm

I read an article talking about the paper market in precious metals and the physical market. The paper market had some contracts coming due and needed to get the price down which is what happened. However, the physical market is very healthy. Why do they let gamblers set the spot price? They don’t care about the metal, just the price.

Monster April 18, 2013 at 6:13 pm

Ok, I’m a newbee here with a question. I’m looking at buying a 2013 American Eagle One Ounce Gold Proof Coin (GA1). The price listed at the US Mint is $1810, will this price stay the same or will it move up and down as the gold spot price changes?

TIA

RonnieBGood April 22, 2013 at 8:59 am

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