Following the recent decline in the price of gold, the United States Mint has reduced prices for available numismatic gold products. Price reductions took place for the 2010 Proof Gold Buffalo and the 2010 First Spouse Gold Coins.
Since early 2009, the US Mint has utilized a pricing policy for numismatic gold and platinum coins that allows prices to be adjusted as frequently as weekly in response to changes in the market values of the underlying metals. The previous policy, which had required pricing changes to be published in the Federal Register, had become problematic as fluctuations in precious metals prices became more extreme.
Under the current policy, the average London Fix price is calculated for the period covering the prior Thursday AM to the current Wednesday AM. If the average moves across thresholds established at $50 intervals for gold and $100 intervals for platinum, product prices are reduced accordingly. However, if the Wednesday PM price does not agree with the change directionally, then an adjustment does not take place.
The 2010 Proof Gold Buffalo had its price adjusted from $1,660 to $1,610. Each coin contains one troy ounce of 24 karat gold.
The 2010 First Spouse Gold Coins had their prices adjusted from $854 to $829 for proofs and $841 to $816 for uncirculated coins. Each coin contains one half ounce of 24 karat gold. Available designs feature Abigail Fillmore, Jane Pierce, Buchanan’s Liberty, and Mary Todd Lincoln. The James Buchanan’s Liberty Gold Coin has been the top seller of the group with recent sales of 11,442 out of the 15,000 maximum mintage.