The United States Mint on Wednesday cut the prices on all its collector gold coins in response to falling gold prices over the previous week.
Unlike the Mint’s investment-grade gold coins that are sold for small premiums above the latest spot price of gold at the time, the United States Mint has a policy to adjust its numismatic gold coin prices up to once a week based on a weekly average of the precious metal.
That average fell below $1,500 an ounce, which triggered the following new product prices:
|Product||Old Prices||Current Prices||Change|
|Uncirculated First Spouse Coins||$916.00||$891.00||$25.00|
|Proof First Spouse Coins||$929.00||$904.00||$25.00|
|1 oz Uncirculated Gold Eagle||$1,778.00||$1,728.00||$50.00|
|1 oz Proof Gold Eagle||$1,785.00||$1,735.00||$50.00|
|1/2 oz Proof Gold Eagle||$906.00||$881.00||$25.00|
|1/4 oz Proof Gold Eagle||$465.50||$453.00||$12.50|
|1/10 oz Proof Gold Eagle||$200.50||$195.50||$5.00|
|Proof Gold Eagle 4-Coin Set||$3,308||$3,215.50||$92.50|
Additionally, the price point for the 2011 Proof American Buffalo Coin is now known. The United States Mint will release the new, one-ounce 24-karat gold piece on Thursday for $1,760.00.
The Mint last raised coin prices on April 27 when the yellow metal shot to a record high and its weekly average fell within the $1,500 to $1,549.50 range. The highest ever coin prices hurt demand, as numismatic gold coin sales quickly retreated.
The pricing range now used is between $1,450.00 and $1,499.99 an ounce. Should the gold average from Thursday to next Wednesday move outside the level, the United States Mint will again adjust product prices up or down, accordingly.
Visit http://catalog.usmint.gov/ for more information about any of the above coins.