US Mint Gold Coin Price Decrease
Following the recent decline in the spot price of gold, the prices for United States Mint numismatic gold products will be decreased today. This price decrease follows four consecutive price increases that brought prices of coins to their current levels.
Under the pricing policy adopted this year, the US Mint calculates the average weekly price of gold based on London Fix prices from the prior Thursday AM to the current Wednesday AM. If the average calculated price moves across thresholds at established $50 increments, then a price increase or decrease takes place. The price changes have generally become effective by mid-day on Wednesday.
The table below presents the London Fix prices for the applicable period. The average calculated price is $1,125.89.
| London Fix Gold Prices | ||
| Thurs | 1,125.75 | 1,128.50 |
| Fri | 1,140.00 | 1,124.00 |
| Mon | 1,120.00 | 1,123.75 |
| Tues | 1,115.00 | 1,122.00 |
| Wed | 1,134.00 | N/A |
The Ultra High Relief Gold Coin price will decrease from $1,539 to $1,489. The prices for First Spouse Gold Coins will decrease from $754 (proof) and $741 (uncirculated) to $729 and $716.
The 2009 Proof Platinum Eagle would have had a $100 price decrease, if it had not already sold out late last week. Sales of the coin had reached the maximum authorized mintage of 8,000 by Friday. The US Mint continued to accept orders for placement on a waiting list until Monday of this week.
New Coin Grader Capsule: 1952 Superbird Washington Quarter Loses NGC Attribution
Labels: US Mint
posted by Mint News Blog @ 6:51 AM
34 Comments:
Interesting how:
1-The USMint website began featurting the UHR on the front of the website for the past few days knowing it will have a large dollar amount of a decrease today.
2-I missed the price increase on the Van Buren a few weeks ago because they bumped the price up in the morning. I wonder how quickly they will make the price DECREASE today? They should do it at the same time of day as they did the increase a few days ago.
3-The mark up is still very high for the UHR. Not sure why it has to remain so high compared to the Buff when the Buff actually looks like the "real McCoy" 1 oz.
The UHR has a lot of special production costs including the manufacturing set up, the book, and the fancy box. Otherwise the taxpayer is footing the bill for everything above melt costs. Now if the yellow was purchased last year then melt cost to the mint was relatively low. We can't expect the gov't to bail out collectors like they do Goldman Sux. What do you people want? Oh, oh, do I see a bubble. Nah, its just my beer coming to a head. My bad.
Nice to see a decrease for a change! Now if the gold price will just fall enough for the Margaret Taylors to cost $654 and $641 for Proof and Uncirculated so I can buy them for the same prices I paid for the other four 2009 designs. That would make me happy. Not as happy as I would be if the prices fall even more, but happy anyway.
Thank you Mr. Moy for lowering prices (done!). Still too expensive for me, but thanks for the effort!
I heard on the radio this morning that the "experts" are expecting some "softening" of precious metal commodities over the next few weeks, so maybe gold will follow gas prices?? I wonder if these were the same "experts" that were predicting gold to $2000 by the end of the year?
On Michael's link to the "latest US Mint sales report" I did not see any final numbers for the Van Buren Liberty (just NLA). Last "update", the numbers were exactly the same as the week prior (even though the numbers covered a few days where the coin was still on sale, but the totals did not change at all), which I assumed was an oversight. Any help on this?
Platinum Proof has shipped on Dec.15th.
The real experts (check out different news sites) are predicting that all gold speculators will be engaging in profit taking by selling their gold supplies.
The start of gold value deflation has begun. The bubble has begun to burst. And lower prices for US Mint gold coins are ahead.
POP! POP! POP!
goes the gold bubble!
Man, I'm sure I'm not alone here when I say that I am so SICK of the words "bubble" and "pop" in this blog!
Not to perpetuate this but....
The Gold Bubble Myth.
http://www.theglobeandmail.com/globe-investor/investment-ideas/features/vox/the-gold-bubble-myth/article1399184/
I am tired of seeing the words coin, gold, price, and mint used on this site. Lets try to be more creative and start talking about other stuff like where can you find the best hamburger and fries in Italy.
I agree with Anonymous at December 16, 2009 2:28 PM..
It seems that readers are only interested in gold, precious metals, and making money from gold speculation. Another favourite topic is the distaste for diversity.
Gosh, it makes me wonder if coin collectors are in it for the joy of collecting or to make profits from others.....
Michael,
The article titled, "The Gold Bubble Myth."
Interesting opinion. We all have opinions. Wise ones, foolish ones, and the right one.
The right opinion is only known in retrospect.
I am all for people posting their opinions in a manner that is respectful to those whose opinions differ.
I think it is ok to discuss about precious metal prices because they impact the cost of coins that we are interested in, but it is childish to wish ill upon others.
i have always heard the addage about one ounce of gold should buy you a well tailored suit.
so, an un-scientific poll of google yields that most nicely tailored suits are in the $600 - $1000 range with lows of around $200, and highs of around $2000.
gold seems to be on the high side of that, but not by much.
Michaels article was well worth the reading. our times are quite volatile, so fluctuations are inevitable.
i but both for beauty and value. it has seemed to serve me well so far.
“Have nothing in your house that you do not know to be useful, or believe to be beautiful” --William Morris
Another addage is an oz. of gold will buy about 600 loaves of bread 2000 yrs ago and today. My Walmart has a generic French loaf or 1.50 and Sarah Lee at the high end goes for 2.59. Average 2.05 times 600 gives 1230. Sha Zam. My mom grew up in the '30s. She said a loaf was around a nickel. A nickel times 600 is 30 bucks. Gold doesn't necessarily increase wealth it just protects what you have. When a loaf averages $5 you can expect gold to be around 3 large. However, the gov't is now so large and powerful they may be able to alter this relationship between gold and goods. Time will tell.
I just can't help myself...When the bubble bursts...POP.POP.POP...a loaf a bread with buy a bag of gold.
On a more serious note...I tend to ignore articles that use the 1980 high as the benchmark for comparison. A more acurate price would be a couple of years befoe or after 1980, in which case gold is way overvalued.
I am not opposed to diversity. In the olden days we referred to it as the melting pot. In "Stripes", Bill Murray says something along the lines af getting or our ancestors were kicked out the best nations in the world. It is truely amazing how the diverse peoples of the world (some of which don't get along in their homelands) can live in relative harmony here.
The thing that I am opposed to is some selection committee misinterpreting the Constitution and shoving some P.C. crap down my throat.
I see many people buying gold with reckless regard as to not even knowing the difference between 22k and 24k.There are even those who by gold who believe there is 28 grams in an oz.It's very upsetting to see so many people get ripped off not knowing the basic facts they need to know.
I was at the mall shopping this weekend and came across a booth that said we buy gold.So I approached them just to see how much they would pay for one troy ounce of 24k gold .I WAS SHOCKED!!
The guy told me they pay based on penny weight.Meaning that 20 pennies equals one troy ounce of 24k gold.I said "OK,how much do you pay per penny weight?".He said "$25.00 per penny weight".
These clowns are everywhere ripping people off that don't have a clue what they have.Please do yourself a favor if your going to buy or sell gold at the prices of today.Read up basic facts of what a karat weight means in terms of percentage per karat weight.And how many grams are in a troy oz.
I see a lot of new people every day get into investing in gold and silver and they are clueless.So please do your best to find out the facts or share the facts to those who don't know.
Thank you
Gold down 2% today. POP!
Ooops. Make that Gold down 2.5% today.
The Platinum Proof has arrived today. Nice coin, the booklet it comes in I'll past on. You can't beat the Buffalo Proof's wood and leather case.
I hope to god that gold drops to $1000 and I will be happy to stock up again!
Got my Platinum today too. Well, it's actually for my wife since she bore me a son in June. I got her the set in 2004 when she bore me my first son, so I had to do it again. So issuing only a single one ounce coin saved me some money!
I feel sorry for the jealous people who get excited when gold drops a little. Maybe if they got out and earned some money instead of posting stupid comments all day they could also afford to buy gold.
Even though I have a lot of gold bullion I also like it when it drops, because I plan to buy more. With the government printing money nonstop, stocks set for another drop and interest rates at zero, gold is set to be the best store of wealth in the next few years. Especially with India and China buying more and more.
Gold is now under 1100. Quick, buy Moy marked up gold to pay off some government debt before pricing goes down next week again!
As for the suckers that bought the anti-white guy plat at now around $400 above spot, hope you like looking at it.
Gold prices fall 2.8% . The trend continues.
POP! POP! POP!
Watch the value of US Mint gold coins drop from their highs. Only those who wanted to profit from your purchases were advocating buying while the bubble grew.
Don't say we didn't warn you....!
Hey gold bubble guy, just wanted to tell you the U.S. debt and unfunded liabilities bubble just grew another trillion. Now with 106 trillion and counting THAT bubble is the one I worry about every day. Hey, let's just raise the debt ceiling...o.k...sounds like a plan. Your dollar is worth .04 on the 1913 dollar and falling. Sounds like that bubble burst years ago. Don't say I didn't warn you.
Hey anonymous, a.k.a. Old Timer,
I was not alive in 1913, so I could care less what happened then. Why not compare the value of a dollar from 1990?
You're comparing apples and oranges.
What's amazing is how the "pop pop pop" bubble person(s) always list anonymous, (like most posts)... Sure is easy when you aren't held accountable for anything you say.
Adam
Don't be such a hypocrite. How many times have you signed off as "Anonymous"....? Hmmmmmm?
POP! POP! POP!!!
Gold will pop to $1500 in the near future.
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