US Mint Gold and Platinum Coins Poised for $50/oz Increases

by Mike Unser on October 22, 2013 · 0 comments

US Mint American Eagle Gold and Platinum Coin

U.S. Mint collector gold and platinum coins should see price increases on Wednesday.

More than a dozen numismatic gold coins from the United States Mint are poised for price increases this Wednesday, just one week after their prices were reduced. Also, the two platinum coins from the bureau should soon carry the same higher price tags they had two weeks ago.

Potential changes will depend on Wednesday’s London PM fixings for gold and platinum. Higher prices will kick in for gold coins if the London PM fix for gold is at or above $1,300 an ounce. Platinum coins will move up if the London PM fix for platinum fixing is at or above $1,400 an ounce.

Coin News Update: U.S. Mint platinum and gold coins did have their prices increased Wednesday. The new prices are listed in the "To" column further below.

If these conditions are met as expected, prices for the coins will go up $50 for every ounce of precious metal they contain. Here is a table of the potential changes:

US Mint Numismatic Coins From To
2012 & 2013 W Proof American Eagle Platinum Coins (1 oz) $1,750.00 $1,800.00
2013-W Proof Gold Buffalo $1,640.00 $1,690.00
2013 Proof 5-Star Generals $5 Gold Commemorative Coin $417.60 $429.75
2013 Uncirculated 5-Star Generals $5 Gold Commemorative Coin $412.60 $424.75
2012 Proof First Spouse Gold Coins $840.00 $865.00
2012 Uncirculated First Spouse Gold Coin $820.00 $845.00
2013-W Uncirculated American Eagle Gold Coin (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 Coin (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 Coin (1/10 oz) $180.00 $185.00
2013-W Proof Gold Eagle Four-Coin Set $2,982.50 $3,075.00

 

Prices for the Mint’s numismatic gold and platinum coins are based on weekly averages of the respective London precious metals fixings. The Wednesday PM fixing is used as a directional component that can trigger or halt pricing changes. This component is the one to look for since the averages, while the Wednesday AM fixings must still be considered, are already firmly entrenched within higher coin price-setting ranges — $1,300 to $1,349.99 for gold and $1,400 to $1,449.99 for platinum.

When the U.S. Mint implements pricing adjustments, it usually freezes online ordering for the affected coins for around 30 minutes until the new prices go live near 12:00 Noon ET. The gold and platinum coins listed above are available at www.usmint.gov/catalog.

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

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