Precious Metals Keep Rising- Sales of Dolley Madison Uncirculated Coins Halted
Precious metals prices continue their steep ascent. This morning silver, gold, and platinum are all trading higher. Silver just broke through the closely watched $20 per ounce level. Gold seems poised to cross the $1,000 mark. Platinum hovers beneath $2,200.
The U.S. Mint has been routinely suspending sales of coins with precious metals content as the bullion prices approach their product prices. Last year this lead to numerous suspensions and product repricings for Gold and Platinum Eagle products as well as a price increase for the fourth coin of the First Spouse Gold series. It looks like this year the Mint will not have it any easier.
Last night, sales of the uncirculated version of the Dolley Madison First Spouse Gold Coin were halted. The product page currently carries the Mint's standard metals-related suspension message:
Due to the increasing market value of gold, the Dolley Madison Gold Uncirculated Coins are temporarily unavailable while pricing for this option can be adjusted; therefore, no orders can be taken at this time.It is somewhat curious that they have only suspended the Uncirculated version of the coin. The Proof version is still available for sale here at $529.95. However, with gold trading higher again this morning, I think the proof version may be suspended soon as well.
The Dolley Madison prices will likely be brought into line with the recently released Elizabeth Monroe coins. This will adjust the curious price difference discussed in this prior post.
Labels: US Mint