The United States Mint is unlikely to cut numismatic gold coin prices for a second straight week, despite the continual decline in gold prices — now at the lowest levels since early November.
The US Mint cut prices last Wednesday, Dec. 16, when the London Fix weekly gold average retreated under the $1,150.00 an ounce threshold. The next barrier before an adjustment can take place is below $1,100.
London gold did shift below that level on Tuesday, but the current several day average is $1,105.81. The Wednesday AM fix will need to settle under $1,053.50 an ounce to trigger lower prices for US Mint First Spouse Gold Coins, American Buffalo Gold Proof Coins, and Ultra High Relief $20 Double Eagles.
The following are the available gold prices the Mint will use to arrive at an average:
London Fix Gold Prices
|12/23/2009 – Wednesday||not yet set||n/a|
|12/22/2009 – Tuesday||1094.25||1084.00|
|12/212009 – Monday||1113.25||1105.50|
|12/18/2009 – Friday||1106.50||1104.50|
|12/17/2009 – Thursday||1121.50||1117.00|
Should the unexpected happen, look for the Mint to adjust prices around noon ET Wednesday. The prices would be:
- UHRs from $1,489.00 to $1,439.00,
- American Buffalo Gold Coins from $1,410.00 to $1,360.00,
- Uncirculated First Spouse Coins from $716.00 to $691.00, and
- Proof First Spouse Coins from $729.00 to $704.00
The London gold-fixing is a benchmark for gold traded directly between big institutions.
As a reminder, the US Mint will stop selling UHR Double Eagles on December 31, 2009, at 3 PM ET.