US Mint Platinum and Gold Coins Poised for Price Hikes

by Mike Unser on August 13, 2013 · 2 comments

2013 Reverse Proof Buffalo and 2013 Proof Gold Eagle

There is a good chance that the U.S. Mint will increase coin prices, including those of the new 2013 Reverse Proof Buffalo and series of proof Gold Eagles

Last week the United States Mint cut prices on its numismatic gold coins. This week, on Wednesday, the bureau is poised to raise them in response to gains in precious metals.

On the list of products expected to move higher is the new 2013 Reverse Proof Gold Buffalo. Prices for platinum coins should also climb.

Before jumping into some pricing explanations, below is a grid with a list of products and their likely upcoming prices.

Coin News Update: It took about 30 minutes longer than normal but the Mint on Wednesday did raise prices on its numismatic gold and platinum coins. New pricing is listed in the ‘To’ column below.

Numismatic Products From To
2013-W Reverse Proof Gold Buffalo $1,640.00 $1,690.00
2013-W Proof Gold Buffalo $1,640.00 $1,690.00
2013 Proof 5-Star Generals $5 Gold Commemorative Coins $417.60 $429.75
2013 Uncirculated 5-Star Generals $5 Gold Commemorative Coins $412.60 $424.75
2012 Proof First Spouse Gold Coins $840.00 $865.00
2012 Uncirculated First Spouse Gold Coins $820.00 $845.00
2013-W Uncirculated American Eagle Gold Coins (1 oz) $1,575.00 $1,625.00
2013-W Proof American Eagle Gold Coin (1 oz) $1,610.00 $1,660.00
2013-W Proof American Eagle Gold Coins (1/2 oz) $820.00 $845.00
2013-W Proof American Eagle Gold Coin (1/4 oz) $422.50 $435.00
2013-W Proof American Eagle Gold Coins (1/10 oz) $180.00 $185.00
2013-W Proof Gold Eagle Four-Coin Set $2,982.50 $3,075.00
2012 & 2013 Proof Platinum American Eagle $1,800.00 $1,850.00

 

When the U.S. Mint changes prices on its gold or platinum coins, it tends to freeze ordering for the affected products for about 30 minutes until the new prices go live around 12 Noon ET on Wednesdays.

Pricing Explanations

Every Wednesday morning, the United States Mint averages the daily AM and PM London fixings for gold and platinum back to the previous Thursday. When the average for gold or platinum shifts into a new $50 pricing tier shown in the Mint’s pricing tables, coin prices are adjusted.

Current averages are well established into a higher tier of $1,300 to $1,349.99 an ounce for gold and $1,450 to $1,499.99 an ounce for platinum. It is these ranges that call for the higher coin prices.

In addition to the averages, the Mint uses the Wednesday PM fixings for gold and platinum as a directional component. Each can, by itself, stop pricing changes. In this latest instance, coin prices will move higher unless gold plunges overnight by some $20 with the PM Fix below $1,300 an ounce and platinum drops around $45 with a PM fix under $1,450 an ounce.

This coin news article will get updated with what actually happened.

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Bil Munsil
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Bil Munsil

Will the mint be issuing five-star admiral coins?

How about the six-star general and admiral?

Joe#2
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Joe#2

Well, $1690.00 for this ICON :).. Still not bad…