The United States Mint is again selling commemorative gold coins after a thirteen-day suspension. The Mint on Thursday also brought back two suspended silver sets following six days of absence.
Volatile and surging precious metals prices were the designated culprits for triggering the product suspensions. And although gold and silver have fallen from their heights in mere days — ironically, the two metals are lower now than when the products were first suspended — the commemorative gold coins return on sale at higher prices (+$79.35 each) while prices for the silver sets are unchanged.
"The United States Mint has suspended sales of commemorative gold coins for re-pricing," the bureau said in a statement at the time of their suspensions. "Due to the current market volatility, we will be placing these coins on a ‘pricing grid’ similar to the structure we use to price American Eagle, American Buffalo and First Spouse gold coins. A new grid specific to these coins is being developed and will be posted when complete."
The United States Mint has not yet published the new pricing grid as referenced in the statement, but it did provide and is using updated prices for its commemorative gold coins. Those follow:
Past and Current Commemorative Gold Coin Prices
|Medal of Honor $5 Gold Proof||$449.95||$454.95||$534.30|
|Medal of Honor $5 Gold Uncirculated||$439.95||$444.95||$524.30|
|U.S. Army $5 Gold Proof||$449.95||$454.95||$534.30|
|U.S. Army $5 Gold Uncirculated||$439.95||$444.95||$524.30|
The introductory prices were in place for approximately one month after the commemorative gold coins launched — January 31 for the U.S. Army commemoratives and February 25 for the Medal of Honor commemoratives. As denoted earlier, the increase from the pre-suspension to post-suspension prices is $79.35 for each coin.
Commemorative Gold Coin Melt Values and Premiums
Each of the commemorative gold coins includes 0.2419 troy ounces of the yellow metal. In terms of the coins’ melt values:
When the 2011 commemoratives and their prices were first announced by the Mint in a press release on January 26, the London Fix PM price was $1,328.00 an ounce. Each coin had an intrinsic or melt value of $321.24. The proof premiums were $128.70 and the uncirculated coins had premiums of $118.70.
On the day of their suspensions (August 12), the London Fix PM price was $1,736.00 an ounce, giving each a melt value of $419.89. The proof premiums were $35.01 and the uncirculated coins had premiums of $25.01.
When the coins went back on sale Thursday (August 25), the London Fix PM price was $1,729.00 an ounce. That translates to melt values of $418.25. The proof premiums were $116.05 and the uncirculated coins had premiums of $106.05.
It should be noted that prices for the coins include a mandated surcharge of $35. The U.S. Army commemorative surcharges are paid to the Army Historical Foundation to help finance the National Museum of the United States Army. The Medal of Honor commemorative surcharges are paid to the Congressional Medal of Honor Foundation to help finance its educational, scholarship and outreach programs.
Silver Sets Return at Same Prices
The United States Mint stopped selling the 2010 Silver Proof Set and 2010 America the Beautiful Quarters Silver Proof Set one week ago, on August 19, when silver started pushing over $42 an ounce. Silver in London was down to 39.00 an ounce on Thursday, freeing the Mint to reintroduce the two sets at their same prices.
The 2010 Silver Proof Set, which includes 1.338 ounces of silver, is listed for $64.95. The America the Beautiful Quarters Silver Proof Set has 0.904 ounces of silver and is priced at $39.95.