Precious metals continue to widen their gains in August. As such, another round of price increases appears to be coming Wednesday, August 21, for numismatic platinum and gold coins offered by the United States Mint.
The U.S. Mint every Wednesday morning averages the AM and PM London fixings for gold and platinum back to the previous Thursday. Last Wednesday, the bureau raised prices on its platinum and gold coins by $50 for every ounce of the precious metal they contained. The same level of increase is possible tomorrow.
Again, this would include the popular 2013-W Reverse Proof Gold Buffalo that has a shortened four-week ordering window ending in 16 days on September 5, 2013. Daily sales for the 24-karat gold coin have fallen since last week’s price increase, though a natural retreat was expected until closer to the 5th.
Coin News Update: As expected, the US Mint on Wednesday increased platinum and gold coin sale prices. Their new prices are shown in the "To" column.
|2013-W Reverse Proof Gold Buffalo||$1,690.00||$1,740.00|
|2013-W Proof Gold Buffalo||$1,690.00||$1,740.00|
|2013 Proof 5-Star Generals $5 Gold Commemorative Coin||$429.75||$441.90|
|2013 Uncirculated 5-Star Generals $5 Gold Commemorative Coin||$424.75||$436.90|
|2012 Proof First Spouse Gold Coins||$865.00||$890.00|
|2012 Uncirculated First Spouse Gold Coin||$845.00||$870.00|
|2013-W Uncirculated American Eagle Gold Coin (1 oz)||$1,625.00||$1,675.00|
|2013-W Proof American Eagle Gold Coin (1 oz)||$1,660.00||$1,710.00|
|2013-W Proof American Eagle Gold Coin (1/2 oz)||$845.00||$870.00|
|2013-W Proof American Eagle Gold Coin (1/4 oz)||$435.00||$447.50|
|2013-W Proof American Eagle Gold Coin (1/10 oz)||$185.00||$190.00|
|2013-W Proof Gold Eagle Four-Coin Set||$3,075.00||$3,167.50|
|2012 & 2013 Proof Platinum American Eagle||$1,850.00||$1,900.00|
These possible new prices are based on averages that fall into $1,350.00 to $1,399.99 for gold and $1,500 to $1,549.99 for platinum. The precious metals are solidly within those ranges. The only realistic way price increases would not happen is if Wednesday’s PM fixings, which the Mint uses as directional components, fall below $1,350 an ounce for gold and $1,500 an ounce for platinum. Right now, spot gold and spot platinum are at respective prices of $1,375.20 an ounce and $1,521.00 an ounce.
When coin pricing adjustments are needed, the U.S. Mint tends to halt ordering for about 30 minutes until the changes go live around 12:00 Noon ET. Last week the process took about 40 minutes longer than usual.
There have been discussions about the chance of higher prices on silver coins as well. Silver may need to break toward the $24 an ounce area for that possibility. The precious metal now sits closer to $23 an ounce.
As always, this coin news article will get updated with what actually happened.