Yesterday, the United States Mint reduced price levels for numismatic gold and platinum products. For the single platinum product, the newly effective price represents the lowest in place during the course of the offering.
The US Mint uses a flexible pricing policy for numismatic gold and platinum products, which allows adjustments to be made as often as weekly. The average weekly market prices of the metals are calculated based on the London Fix prices from the previous Thursday AM to the current Wednesday AM. Pricing tiers are established at $50 intervals for gold products and $100 intervals for platinum products. If the average weekly price moves into a different tier and the Wednesday PM London Fix price agrees directionally, product prices are adjusted accordingly. The price updates are typically made effective mid-day Wednesday.
The average weekly price for platinum was within the $1,350 to $1,449.99 range, which was one tier lower than the prior week. Accordingly, the price for the 2011 Proof Platinum Eagle was reduced from $1,792 to $1,692 per coin. The product originally went on sale May 26, 2011 priced at $2,092.
The average weekly price for gold was within the $1,550 to $1,599.99 range, which was two tiers lower than the prior week. Accordingly, the prices for numismatic gold products were reduced proportionally by $100 per ounce of gold content. The impacted products include First Spouse Gold Coins, 2011 Proof Gold Eagles, the 2011-W Uncirculated Gold Eagle, and the 2011 Proof Gold Buffalo.
|Old Price||New Price|
|Platinum Eagle 1 oz. Proof||1,792.00||1,692.00|
|Gold Eagle 1 oz. Unc||1,928.00||1,828.00|
|Gold Eagle 1/2 oz. Proof||981.00||931.00|
|Gold Eagle 1/4 oz. Proof||503.00||478.00|
|Gold Eagle 1/10 oz. Proof||215.50||205.50|
|Gold Eagle 4 Coin Set||3,585.00||3,400.50|
|Gold Buffalo Proof||1,960.00||1,860.00|
|First Spouse Gold Proof||1,004.00||954.00|
|First Spouse Gold Unc||991.00||941.00|