US Mint Gold Coins Could See Price Cuts

by Mike Unser on October 15, 2013 · 0 comments

Proof American Gold Eagle and Proof 5-Star Commemorative Gold Coin

US Mint gold coins are poised for price reductions

Gold’s drop to below $1,300 an ounce has primed conditions for corresponding declines in collector gold coins sold by the United States Mint.

Gold coin pricing cuts last happened a month ago when the weekly London gold fix average fell to within 1,300.00 and $1,349.99 an ounce.

Tomorrow’s AM fixing must still be considered but the average is already so firmly within a lower pricing tier that, virtually, the only thing that would prevent lower gold coin prices would be a PM fixing at or above 1,300.00 an ounce. (Spot gold was last at $1,273.) Wednesday PM gold fixings are used by the U.S. Mint as a directional component in its pricing methodology. It can both halt and trigger coin pricing cuts or increases.

Coin News Update: Coin prices were trimmed Wednesday by the United States Mint. New prices are shown in the "To" column below.

If the Wednesday PM fixing is below $1,300, expect the following changes to these gold coins:

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

 

When the United States Mint implements pricing changes on gold coins, it tends to freeze online ordering for them for around 30 minutes until the new prices go live near 12:00 Noon ET. The coins are available at www.usmint.gov/catalog.

Last week, the Mint reduced prices on its 2012- and 2013-dated proof American Platinum Eagles when the weekly average for platinum dropped to within $1,350.00 and $1,399.99 an ounce. The average is still well within this range so the two coins will stay at $1,750.00.

This coin news article will get updated on Wednesday to relay what happened.

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