The price of gold has been on a five-day price slide, but ironically the timing of the decline was slightly off in helping collectors pay less for US Mint gold collector coins.
The US Mint uses a London Fix weekly gold average to determine whether to keep gold coin prices the same, or adjust them up or down. The average came in 28.8 cents higher than the threshold needed to cause a reduction of UHR Gold Double Eagles by $50, First Spouse Gold Coins by $25, and 2009 Gold Buffalo Proof Coins by $50.
The Buffalos go on sale Thursday at noon ET. Since the London Fix five day average is $1,050.278, the coins will launch with a price tag of $1,360.00. Had the average been at or below $1,049.99, the coin would have been released at $1,310.00. Read the rest of this entry »
Unless the London gold price average on Wednesday falls below $1035 an ounce, the US Mint will again increase the price of its gold collector coins, marking the fourth straight week it has adjusted prices.
With gold hitting an all-time high of $1,065 an ounce Tuesday, it would seem unlikely, although it is possible, for gold prices to fall overnight by $30. (The final London PM price the US Mint will use in its calculation to determine price adjustments is fixed around 10 a.m. Eastern Time.)
The following are the available figures the US Mint will use to arrive at an average: Read the rest of this entry »
For the third straight week, the United States Mint is set to adjust its collector gold coin prices in response to London gold weekly price changes.
Expect UHR Gold Double Eagles and First Spouse Gold Coins to rise Wednesday, Oct. 7, around noon ET by $50 and $25, respectively. These coin prices were just lowered last Wednesday, Sept. 30.
Although there is still one day left in the Mint’s gold coin calculation to consider, gold has shot healthily above the $1,000 an ounce trigger point during the last several days. The current four day average is at $1,010 an ounce. Prices would have to tumble below $960 an ounce by early Wednesday morning for no correction to occur. That seems most unlikely since spot gold is sitting at $1,038.30 an ounce (plus $21.10 on the day) as of this writing. Read the rest of this entry »
Thanks to gold prices that have consistently fallen under $1,000 an ounce during the last seven days, the United States Mint on Wednesday, the final day in September, cut prices on Ultra High Relief Double Eagles and First Spouse Gold Coins by $50 and $25, respectively.
The declines come exactly one week after the US Mint raised gold coin prices by the same amounts in response to a gold average that had moved above $1,000.
US Mint collector gold coin prices are subject to change weekly based on the the Mint’s pricing policy which links the market price of gold to the selling price for the precious metal coins. The average price for London gold since last Thursday was $997.28. The price fell between $950- $1,000 and dictated coin price updates. Read the rest of this entry »
Unless gold prices find and then fall off the world’s highest cliff on Wednesday, the US Mint will raise Ultra High Relief Double Eagles and First Spouse Gold Coin prices by $50 and $25, respectively.
US Mint collector gold coin prices are subject to change weekly based on the US Mint’s pricing policy which links the market price of gold to the selling price for the precious metal coins.
The last gold coin price increases occurred on Sept. 2 when the gold average topped $950 an ounce. While Wednesday gold prices must still be taken into account, the prior 4 day gold average stands at $1,011.38 an ounce, with many days well above the $1,000 threshold which automatically triggers a new round of higher coin prices. Read the rest of this entry »
Late this morning, the US Mint stopped selling Jackson’s Liberty First Spouse Gold Uncirculated Coins and 2009 Lincoln Cent Formative Years Two-Roll sets. Both are now listed on the Mint’s ‘No Longer Available‘ page.
CoinNews reported a few days ago of the likelihood of Jackson’s Liberty getting pulled from Mint store shelves prior to the Sarah Polk coin launch. It has been the Mint’s practice to discontinue sales of the oldest spouse coin before the debut of a new spouse coin. The proof version of Jackson’s Liberty was pulled several weeks ago. Read the rest of this entry »
At 12 Noon (Eastern) today, the United States Mint launched the Sarah Polk First Spouse Gold Coins. Struck from 24-carat gold, these commemoratives honor Sarah who served as First Lady to James Polk, eleventh President of the United States.
Marking the twelfth design in the series of First Spouse coins, the Polk coins are available in either proof or uncirculated condition. The proof was set at a price of $654 with the uncirculated available for $641.
These prices are subject to change weekly based on the Mint’s pricing policy which links the market price of gold to the selling price for the precious metal coins. (For more information, see First Spouse Coins Price Grid.) A bronze medal in the likeness of the Sarah Polk gold coins will also be available for $3.50. Read the rest of this entry »
The cost to purchase UHR $20 Gold Double Eagles and First Spouse Gold Coins just went up. Thanks to rising gold prices over the last several days, the US Mint adjusted higher UHRs by $50 and the First Lady coins by $25.
The Mint gold pricing policy is to average recent gold prices and compare the result against a coin pricing grid. (See pricing grid for First Spouse Coins as an example.) As the London gold average shifts up or down by $50 increments, the US Mint readjusts coin prices using its guide.
The gold average moved to $952.16 during the last several days, which was right above $950 an ounce and the threshold to trigger the following changes: Read the rest of this entry »
Sarah Polk First Spouse Gold Coins launch Thursday morning at 12:00 noon ET. Before then, expect the uncirculated Jackson’s Liberty First Spouse Gold Coin to go off sale. Why? US Mint practice with the gold series has been to discontinue the oldest offering immediately before launching the newest issue.
While that likelihood is exceptionally strong, it is not a 100% certainty. Take for example the Jackson’s Liberty proof sell out in mid August. The proof coin did not reach its maximum mintage, yet the Mint placed it in their "sold out" category weeks prior to the upcoming Sarah Polk coin debut. Mint practice can be fluid. Read the rest of this entry »
The US Mint has added Jackson’s Liberty First Spouse Gold Proof Coin to its sold out list, in a move that will shock collectors of the $10, one-half ounce 24-karat gold coin series.
With the exception of sell outs due to mintage limits met, past First Spouse Coins have been available from the US Mint for a year or until replaced by a following year release.
Jackson’s Liberty was launched on Aug. 28, 2008. Since 7,806 proofs and 4,493 of the uncirculated options have been sold as of Aug. 16, 2009 — well short of the combined 40,000 mintage limit — the common assumption was that the coin would remain for sale until the release of the Sarah Polk First Spouse Coins on Sept. 3. Read the rest of this entry »
