US Mint Numismatic Gold Coin Prices Rising Today
Yesterday evening, I checked the London Fix prices for gold and calculated that unless gold was $1,114.75 or higher, prices would remain unchanged for the US Mint's numismatic gold products. This seemed unlikely since gold was around $1,105 at the time. However, this morning the London AM Fix came in at $1114.75. Accordingly, the prices of US Mint gold products will rise today.
Under the pricing policy adopted by the US Mint earlier this year, the prices for gold and platinum numismatic products may be adjusted as frequently as once per week based on the changing price of gold. The average is calculated for the London Fix prices from the prior Thursday AM to Wednesday AM of the current week. Price changes for gold products occur when the average reaches $50 increments. Current prices are set for the $1050.00 to $1,099.99 increment.
The London AM Fix prices for the current period are shown in the table below. The average comes to exactly $1,100.
|Nov 5||Thurs AM||1,088.00|
|Nov 5||Thurs PM||1,089.00|
|Nov 6||Fri AM||1,095.00|
|Nov 6||Fri PM||1,096.75|
|Nov 9||Mon AM||1,108.50|
|Nov 9||Mon PM||1,106.75|
|Nov 10||Tues AM||1,099.75|
|Nov 10||Tues PM||1,101.50|
|Nov 11||Wed AM||1,114.75|
The price for the Ultra High Relief Double Eagle Gold Coin will rise from $1,439 to $1,489 per coin. The price for the 2009 Proof Gold Buffalo Coin will rise from $1,360 to $1,410. The prices for First Spouse Gold Coins will rise from $691 and $704 for uncirculated and proof versions to $716.00 and $729.00. The new prices will represent the highest on record for each product.
Price adjustments have usually become effective around 10AM-11AM on Wednesday.
On an interesting related note, the US Mint's published pricing grid has almost run out of price tiers for gold. When the grid was created price tiers were provided for the average price of gold from $500.00 per ounce to $1,199.99 per ounce.
Update: Prices remained unchanged as of this evening. As a few people posted in the comments, perhaps the prices were not updated because today is Veteran's Day. I will post any additional information that becomes available.
Update 2: The US Mint adjusted prices higher around 12:00 Noon ET on Thursday.
Labels: US Mint