Numismatic Gold Coin Price Increase Likely
As precious metals continue to rise, another price increase for the US Mint's numismatic gold products seems likely for this week.
Under the US Mint's flexible pricing policy covering certain gold and platinum numismatic products, price changes can occur as often as weekly based primarily on the average weekly price of the metals. The average is measured based on the London Fix price from the prior Thursday AM to the current Wednesday AM. As a further confirmation, the Wednesday PM price must agree directionally.
Currently, gold numismatic coins are priced based on an average between $1,550 to $1,599.99. The average for the current weekly period is likely to fall within the next higher range from $1,600 to $1,649.99, which would prompt a price increase. A price increase would be avoided is the Wednesday AM London Fix price is below $1,553.75, or the Wednesday PM price is below $1,600.
Otherwise, price increase would take effect as follows:
|Old Price||New Price|
|2011 1 oz Proof Gold Eagle||$1,835.00||$ 1,885.00|
|2011 1/2 oz Proof Gold Eagle||$931.00||$ 956.00|
|2011 1/4 oz Proof Gold Eagle||$478.00||$ 490.50|
|2011 1/10 oz Proof Gold Eagle||$205.50||$ 210.50|
|2011 Proof Gold Eagle 4 Coin Set||$3,400.50||$ 3,493.00|
|2011-W Unc Gold Eagle||$1,828.00||$ 1,878.00|
|2010 Proof Gold Buffalo||$1,860.00||$ 1,910.00|
|Proof First Sposue Gold Coins||$954.00||$ 979.00|
|Unc First Spouse Gold Coins||$941.00||$ 966.00|
As I mentioned last week, as the price of silver also rises, the chance of sales suspensions becomes increasingly likely. Silver numismatic products are not covered by the flexible pricing policy, instead sales must be suspended until new prices can be established through publication in the Federal Register.
The last time silver broke above the $40 per ounce level, the US Mint suspended two of the lower priced products. Silver is currently trading close to $41 per ounce.
Coin Update News: US Mint Sales Report
Labels: US Mint