Another First Spouse Gold Coin Price Increase Tomorrow?
The price of gold broke above $1,200 per ounce last week and has continued to move higher today. Based on the available London Fix gold prices, it is once again possible that the US Mint will adjust prices higher for available First Spouse Gold Coins.
The last price increase took place a just week ago on May 5, 2010, when the average weekly price of gold came in above $1,150 per ounce. Another price increase will take place if the average of the London Fix prices from the prior Thursday AM to the current Wednesday AM (tomorrow) is $1,200 or greater.
Here are the relevant prices for this weekly period:
|Thurs AM - May 6||1,178.00|
|Thurs PM - May 6||1,185.25|
|Fri AM - May 7||1,199.60|
|Fri PM - May 7||1,202.25|
|Mon AM - May 10||1,188.25|
|Mon PM - May 10||1,196.50|
|Tue AM - May 11||1,209.00|
|Tue PM - May 11||1,222.50|
|Wed AM - May 12||?|
By my calculation, a London AM Fix price of $1,218.65 or higher for tomorrow morning would trigger a price increase. Price increase are generally put into effect by the US Mint on Wednesday around mid-morning.
An increase would put price levels for First Spouse Gold Coins at the highest levels ever. The uncirculated coins would be priced at $766 each and the proof coins would be priced at $779 each.
The lowest prices for First Spouse Coins this year were in effect from January 27 to February 23, 2010 while the average price of gold was in the $1,050 to $1,099.99 range. The prices were $691 for uncirculated coins and $704 for proof coins.
If higher gold prices persist, this will also impact upcoming gold numismatic products. The US Mint plans to release the 2010 Proof Gold Buffalo on June 3, 2010. If gold remains within the current range, the coins would be priced at $1,510 each. When the 2009 Proof Gold Buffalo was released late last year, the initial price was $1,360.
Also scheduled for release on June 3, 2010 will be the Jane Pierce First Spouse Gold Coins. The previous release of the series featuring Abigail Fillmore was initially priced at $716 and $729 for uncirculated and proof coins, respectively.
Labels: First Spouse Gold Coins