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.