United States Mint pricing cuts throughout its gold products are very likely Wednesday, and there’s a good chance its platinum coins will fall by $50 for a second straight week.
Back on August 21, the Mint raised prices across its collectible gold products by $50 for every ounce of gold they contained. The increases came as the weekly average for gold jumped to within $1,350.00 to $1,399.99 an ounce. Since, gold has firmly etched into a lower range.
Coin News Update: U.S. Mint prices on Wednesday were lowered for both gold and platinum products.
As of this writing, the yellow metal is camping near $1,310 an ounce. Unless Wednesday’s London PM gold fix is at or above $1,350.00 an ounce, the following pricing cuts are expected:
| Numismatic Gold Products | From | To |
| 2013-W Proof Gold Buffalo | $1,740.00 | $1,690.00 |
| 2013 Proof 5-Star Generals $5 Gold Commemorative Coin | $441.90 | $429.75 |
| 2013 Uncirculated 5-Star Generals $5 Gold Commemorative Coin | $436.90 | $424.75 |
| 2012 Proof First Spouse Gold Coins | $890.00 | $865.00 |
| 2012 Uncirculated First Spouse Gold Coin | $870.00 | $845.00 |
| 2013-W Uncirculated American Eagle Gold Coin (1 oz) | $1,675.00 | $1,625.00 |
| 2013-W Proof American Eagle Gold Coin (1 oz) | $1,710.00 | $1,660.00 |
| 2013-W Proof American Eagle Gold Coin (1/2 oz) | $870.00 | $845.00 |
| 2013-W Proof American Eagle Gold Coin (1/4 oz) | $447.50 | $435.00 |
| 2013-W Proof American Eagle Gold Coin (1/10 oz) | $190.00 | $185.00 |
| 2013-W Proof Gold Eagle Four-Coin Set | $3,167.50 | $3,075.00 |
Last Wednesday, September 11, the U.S. Mint reduced prices on 2012-2013 Proof American Platinum Eagles by $50 to $1,850 when the weekly average for platinum slipped to within $1,450 to $1,499.99 an ounce. Platinum has since dropped below the range, though less firmly. Based on the Mint’s coin pricing criteria, for the proof Platinum Eagles to move down another $50 to $1,800 each:
- the London AM platinum fix must remain below $1,497.96 an ounce and
- the PM fixing must stay below $1,450 an ounce.
The latest spot price for the precious metal is $1,420 an ounce.
When gold or platinum product pricing adjustments are needed, the U.S. Mint tends to halt ordering for about 30 minutes until the changes go live near 12:00 Noon ET.
As always, this coin news article will get updated with what actually happened.
I don’t care how much the mint reduces the price of any coin. They are $200 too high on gold and platinum coins per ounce prices.