Mint News Blog

News, Information, and Commentary on US Mint Products

Thursday, November 13, 2008

US Mint Gold and Platinum Products Return, Prices Mostly Lower

Around 12:00 Noon ET today, all of the gold and platinum products went back on sale at the US Mint. These products had become unavailable for sale yesterday without any explanation from the Mint.

The only products which have not gone back on sale are the three Sold Out products noted yesterday: the 2008-W 1/10 oz. Unc Gold Buffalo, 2008-W 1/10 oz. Unc Platinum Eagle, and 2008-W 1/4 oz. Unc Platinum Eagle.

The vast majority of new prices are lower. Oddly, some prices have been increased. The increases have impacted all 1/10 oz. coins and some of the 1/4 oz. coins.

Below is a list of all of the gold and platinum products, including the old prices, new prices, and change in price:

Product Old Price New Price Change
2008 Jackson FSG Proof 619.95 549.95 (70.00)
2008 Jackson FSG Unc 599.95 524.95 (75.00)
2008 L. Adams FSG Proof 619.95 549.95 (70.00)
2008 L. Adams FSG Unc 599.95 524.95 (75.00)
2008 Monroe FSG Proof 619.95 549.95 (70.00)
2008 Monroe FSG Unc 599.95 524.95 (75.00)
2008 1 oz. Gold Buffalo Proof 1,199.95 1,049.95 (150.00)
2008 1/2 oz. Gold Buffalo Proof 619.95 549.95 (70.00)
2008 1/4 oz. Gold Buffalo Proof 329.95 312.45 (17.50)
2008 1/10 oz. Gold Buffalo Proof 159.95 164.95 5.00
2008 Gold Buffalo Proof 4 Coin Set 2,219.95 2,005.45 (214.50)
2008-W 1 oz. Gold Buffalo Unc 1,059.95 999.95 (60.00)
2008-W 1/2 oz. Gold Buffalo Unc 539.95 524.95 (15.00)
2008-W 1/4 oz. Gold Buffalo Unc 289.95 297.45 7.50
2008-W 1/10 oz. Gold Buffalo Unc 129.95 N/A N/A
2008-W Gold Buffalo Unc 4 Coin Set 1,959.95 1,902.45 (57.50)
8-8-08 Double Prosperity Set 1,228.88 1,078.88 (150.00)
2008 Buffalo Celebration Coin 1,118.88 968.88 (150.00)
2008 1 oz. Gold Eagle Proof 1,199.95 1,024.95 (175.00)
2008 1/2 oz. Gold Eagle Proof 609.95 534.95 (75.00)
2008 1/4 oz. Gold Eagle Proof 329.95 302.45 (27.50)
2008 1/10 oz. Gold Eagle Proof 149.95 162.95 13.00
2008 Gold Eagle Proof 4 Coin Set 2,199.95 1,952.45 (247.50)
2008-W 1 oz. Gold Eagle Unc 1,119.95 974.95 (145.00)
2008-W 1/2 oz. Gold Eagle Unc 565.95 509.95 (56.00)
2008-W 1/4 oz. Gold Eagle Unc 295.95 287.45 (8.50)
2008-W 1/10 oz. Gold Eagle Unc 124.95 154.95 30.00
2008-W Gold Eagle Unc 4 Coin Set 2,039.95 1,862.45 (177.50)
2008 1 oz. Platinum Eagle Proof 1,324.95 1,119.95 (205.00)
2008 1/2 oz. Platinum Eagle Proof 674.95 599.95 (75.00)
2008 1/4 oz. Platinum Eagle Proof 349.95 359.95 10.00
2008 1/10 oz. Platinum Eagle Proof 149.95 199.95 50.00
2008 Platinum Eagle Proof 4 Coin Set 2,419.95 2,179.95 (240.00)
2008-W 1 oz. Platinum Eagle Unc 1,214.95 1,069.95 (145.00)
2008-W 1/2 oz. Platinum Eagle Unc 619.95 569.95 (50.00)
2008-W 1/4 oz. Platinum Eagle Unc 319.95 N/A N/A
2008-W 1/10 oz. Platinum Eagle Unc 134.95 N/A N/A
2008-W Platinum Eagle Unc 4 Coin Set 2,219.95 2,089.95 (130.00)

I will have additional information later along with some thoughts and responses on the sudden and unexplained price decreases.

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5 Comments:

At November 13, 2008 at 11:15 AM , Anonymous Anonymous said...

Glad I got my 1/10th Proof Platinum last week.

 
At November 13, 2008 at 11:34 AM , Anonymous Anonymous said...

Can anyone explain to me why dealers raised their prices on encapsulated proof buffalos even though mint lowered them?
This is agaist logic! I thought that numismatic world with the exeption of the mint has more common sense.

 
At November 14, 2008 at 7:47 AM , Anonymous Anonymous said...

no price adjustment policy at the usm... my 1oz plat uncircs go back today.... i'll have to re-buy them

 
At November 14, 2008 at 1:19 PM , Anonymous Anonymous said...

I am returning my 1/2 oz Platinum. I am not reordering either. I just find it very rude the way they are treating long time customers. It makes more since to give me a $50 credit than to make me return the item to repurchase the item. This is not good business!

 
At November 14, 2008 at 1:49 PM , Anonymous Anonymous said...

I agree with the previous poster. The mint has records of everyone who has purchased the coins over the last 30 days that have been reduced. There is no reason that they can't issue the credit, without going through the return routine.

This whole episode shows that the government should not be in the business of pricing the coins--they should just let dealers do it. The fact that collector coins are being sharply curtailed shows they realize it, but they are throwing out the baby with the bathwater. I feel bad about recently ordering coins at higher prices--some outside the 30 days and some within. I don't want to risk the coins getting lost through the return process. I can imagine there are even angrier people who paid much more for platinum coins earlier this year.

I'll be doing my shopping with the RCM and the Australian mints in the future. At least they have a clue! Set a reasonable price and stick with it.

 

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