US Mint Increases Prices on Numismatic Gold Coins

by CoinNews.net on January 4, 2017 · 9 comments

2016-W Walking Liberty Centennial Gold Coin - Obverse and Reverse

The U.S. Mint raised prices on more than a dozen gold coins, including the Walking Liberty Gold Half-Dollar

On Wednesday, Jan. 4, the United States Mint increased prices on 17 numismatic gold products.

The U.S. Mint’s collections of gold coins have prices that can change weekly depending on the trending value of gold. The agency most recently reduced prices on Dec. 21 when the average for gold fell to between $1,100.00 and $1,149.99 an ounce. The yellow metal has since climbed to a more than 3-week high and is now trading over $1,171 an ounce.

The following table lists the old and current prices:

Old Prices Current Prices
2016-W Walking Liberty Gold Half-Dollar $815.00 $890.00*
2016-W Standing Liberty Gold Quarter $435.00 $472.50*
2016-W Proof Gold Eagle Coin (1 oz) $1,460.00 $1,510.00
2016-W Proof Gold Eagle Coin (1/2 oz) $745.00 $770.00
2016-W Proof Gold Eagle Coin (1/10 oz) $165.00 $170.00
2016-W Proof Gold Eagle Coin 4-Coin Set $2,705.00 $2,797.50
2015 & 2016 First Spouse Gold Proof Coins $765.00 $790.00
2015 & 2016 First Spouse Gold Uncirculated Coins $745.00 $770.00

 

*These are prices shown on the coins’ product pages, and likely the result of human error. Based on the Mint’s pricing schedule, the 2016 Walking and Standing Liberty Centennial Gold Coins should be $840 and $447.50, respectively. This article will get updated when we hear back from Mint officials about the two prices or they change to their expected levels.

Update (Jan. 5 – 4:15 p.m. ET): The actual product pages for the two centennial coins now reflect their correct prices ($840 and $447.50).

For some perspective, the U.S. Mint made eleven pricing changes in 2016, raising them six times and reducing them five times. In 2015, the agency made fourteen different adjustments, dropping them in eight instances and increasing them six times.

The above gold coins are found on the Mint’s website page located here.

{ 9 comments… read them below or add one }

Roxie60 January 4, 2017 at 9:33 pm

Glad I pulled the trigger yesterday afternoon. And it was dang tough buying walking lib at $819. Yep I questioned in another thread if the mint made an error when I saw the original issue prices for the centennial coins today. Got to be a mistake or the Mint is changing its price strategy which I doubt.

MintErrors.org January 5, 2017 at 4:33 am

Its simple, they don’t fix the prices, which is a smart idea. They need to fluctuate the price, giving the consumer the fair market value. Mistake? I hardly doubt it. In order to stay in “business” – if you can call a government sponsored facility a “business”, means you show never lose money in transactions. If gold can be bought for $50.00 less than what wholesalers are paying, then the Mint feels obligated to ask for the fair market value so they can “purchase” gold to refill sales at a competitive price and not lose their shirts.

Richard January 5, 2017 at 7:08 am

Good for you, Roxie. It is moot now, but I’m happy to have gotten the gold dime on the second go-around. It will be a long time till its cost reaches melt value, though that wasn’t the point.

Roxie January 5, 2017 at 8:20 am

Richard I usually don’t pay such high premiums for my coins but for some reason I didn’t want to wait and hope one would come through my LCS at a lower price. They certainly are not rare but I love the old designs. You are right we probably won’t see these hit melt value in our lifetimes unless something big happens in the gold and silver market. My walking library suppose to arrive tomorrow on my birthday….can’t wait to see it. Hoping it is in great shape like my other two and not someone else’s reject.

Roxie January 5, 2017 at 8:22 am

Darn auto correct. ..walking liberty not walking library…lol

Roxie January 5, 2017 at 9:25 am

@MintErrs I’m not questioning Mint’s need to adjust prices as price of gold fluxuates. What I’m questioning and suggesting was a mistake in the price increases for the gold coins is not consistent with the Mint’s own published schedule of gold coin prices based on current spot price. Based on the Mints pricing schedule the gold spot price yesterday would indicate a lower price for the gold coins than what was posted on the product pages.

Christopher Williams January 5, 2017 at 8:47 pm

Very limited schedule for the year 2017.

Roxie January 6, 2017 at 3:01 pm

The walking liberty arrived today (nice to get it on my birthday). I think the coin is very nice, good strike. Came with COA, heard some had missing COAs. Not sure if it was a reject but the white protection cloth was caught in the box and a bit misaligned. Have not seen that with other mint purchases. Did not see finger prints on coin airtight so may be original. Slight disappointment with the reverse. Their is a darker swath in the field just under the Eagles beak/chin down to the E PLURIBUS. Sadly that is first thing that caught my eye when I flipped to rev. The obv looks great. Not sending back might get something worse at this late time. For the price I guess I’m expecting perfection. Anyone else have this shadow, darker gold field just under the beak. Got a good picture but I don’t know how to post pictures here.

Roxie January 6, 2017 at 3:18 pm

Only thing left to get is silver proof set for 2016. Will take me all of 2017 to repair my bank account but I can say I’m fairly happy (of course lower price would have made me happier) with the 2016 US MINT offerings I purchased. This was 1st time in 3 years I purchased from the Mint. Nice to feel that way about the Mint. Best wishes to all.

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