A series of price increases is expected Wednesday for numismatic American Eagles and First Spouse Gold Coins, per recent trends of precious metals on the London Fix. For the same reason, Star-Spangled Banner products released next Monday are likely to cost a bit more than anticipated.
[Update: The U.S. Mint on Wednesday did indeed raise prices on platinum and gold coins. The latest prices are in the table below.]
Each week on Wednesday morning, prices are re-evaluated for United States Mint coins composed of gold and platinum. The price on the proof Platinum Eagle and numismatic gold coins has remained the same for four straight weeks. But precious metals have swung sharply higher in recent days, and coin prices should shoot up as a result.
The London Fix average for gold has moved into the $1,750.00 to $1,799.99 per ounce range. In a similar fashion, platinum has catapulted to between $1,650.00 and $1,749.99 per ounce. These higher levels call for higher coin prices, according to U.S. Mint pricing policy — as long as Wednesday’s upcoming PM fixings agree. In short:
- If the London gold PM Fix is $1,750.00 or higher, then prices will rise for all U.S. Mint numismatic gold coins
- If the London platinum PM Fix is $1,650.00 or more, then the price for the proof Platinum Eagle will climb $100
As of this writing, the spot prices for gold and platinum are at $1,786 and $1,721, respectively. Hence, both metals would need to free fall overnight to prevent the following expected price increases.
Likely US Mint Prices for American Eagles and First Spouse Coins
|U.S. Mint Product||Current Prices||Likely Prices||Price Increase|
|Uncirculated First Spouse Coins||$1,016.00||$1,041.00||$25.00|
|Proof First Spouse Coins||$1,029.00||$1,054.00||$25.00|
|American Gold Buffalo||$2,010.00||$2,060.00||$50.00|
|1/10 oz Proof Gold American Eagles||$220.50||$225.50||$5.00|
|Proof Gold American Eagle 4-Coin Set||$3,678.00||$3,770.50||$92.50|
|Proof Platinum American Eagles||$1,892.00||$1,992.00||$100|
Once the United States Mint decides to adjust coin prices, it will typically halt online ordering of the affected products for 30-60 minutes. The process usually begins between 11:00 a.m. and 12:00 p.m. ET on Wednesday.
Expected Prices for Commemorative Star-Spangled Banner Products
On Monday, March 5, the United States Mint will release the new commemorative Star-Spangled Banner products which include two silver dollars, two $5 gold coins and a two-coin proof set. (Read the earlier CoinNews.net article for the latest information on their release.)
The $5 gold coins and two-coin proof set also rely on a coin pricing system based on the London Fix for gold. The following table shows what the upcoming commemorative products would have been priced at today had they launched and what they are expected to be priced at on their actual release date as a result gold’s recent gains.
|Star-Spangled Banner Products||Prices if Coins Launched Today||Expected Prices on Launch Date||Price Difference|
|Proof $5 Coin||$517.15||$529.30||$12.15|
|Uncirculated $5 Coin||$507.15||$519.30||$12.15|
|Two-Coin Proof Set (Proof $5 Gold and Proof Silver Dollar)||$567.15||$579.30||$12.15|
Prices for investment-grade U.S. Mint bullion coins differ from the numismatic versions as bullion coin prices change daily based on the latest value of the precious metal they contain.
The coins we’ll be ordering next week were minted weeks if not months ago from silver that was purchased weeks or months before THAT! I hate how they jack up the prices based on the spot silver price de jour.
George, this article is about gold and platinum coin price increases. I did not read a single word mentioning silver coins.
“Expected Prices for Commemorative Star-Spangled Banner Products: On Monday, March 5, the United States Mint will release the new commemorative Star-Spangled Banner products which include two silver dollars, two $5 gold coins and a two-coin proof set. (Read the earlier CoinNews.net article for the latest information on their release.)”
That and the article’s headline certainly give the impression that the Silver coins will be affected. Time will tell…..
The same rules apply when (if) metal prices go down, too. Gold bought at a higher price is sold at a lower price if the current price is lower. These last several years prices have been going up and apparently China’s demand will keep it going up. Maybe in another n years the economy will settle down and prices won’t be so volatile. They’ll probably never go back to pre 2008 prices though. London silver was $33.18 on Feb 16 and $35.60 yesterday (Feb 28). In 2011 the London prices ranged from $27.75 to $32.54 for the two commemorative silver… Read more »
LOL…..and then the silver price crashed today making this whole discussion a complete waste of time. Gotta love it….
Don’t count on the price of silver staying down. The Fed and it’s banks aka JP Morgan can only surpress it for so long. What they are really doing is giving silver to China to make the dollar look good.
The Star Spangled gold coin marked $5 appears to weight 8.359 grams of composite metal (or 7.523 grams of gold (90%)) so therefore coin is roughly ¼ ounce of gold. (31.1 Grams = a Troy Ounce)
The American Eagle gold 1/4 ounce coin is marked $10 and the 1/10 ounce Eagle is marked $5.
Question. Why is the ¼ once Eagle marked $10 and the ¼ ounce Star Spangled marked $5? Is the coin mismarked or is there an error in weights? Is there precedence in Commemoratives?
…Or did some clerk at the MINT just make an big time error because (s)he was too busy texting pics of (his)her “you know what” to her friends on FB instead of paying attention to her work?
Happens way more than we think these days.