The rapid rise in gold prices over the last week is likely to result in another round of price increases for the US Mint 2009 Ultra High Relief Double Eagle Gold and the 2008 and 2009 First Spouse Gold Coins.
The US Mint uses a five-day London gold average -- from Thursday to Wednesday -- to determine whether its collector gold coin prices go up, go down, or stay the same. The US Mint increased coin prices just last Wednesday, when London gold jumped above $1,000 an ounce. During the last four days, however, gold has averaged above $1,050 which is the next level to trigger another increase in coin prices.
There is still one day left in the Mint's coin calculation to consider, but gold would have to fall below $1,035 an ounce for coin prices to remain the same. That seems unlikely given gold hit an all-time $1,065 high on Tuesday.
The final London gold price the US Mint will use is fixed around 10 a.m. Eastern Time. Between then and noon, expect the Mint to increase the Ultra High Relief coin by $50 to $1,439, and the uncirculated and proof First Spouse coins by $25 to $691 and $704, respectively.
Visit the US Mint store at http://catalog.usmint.gov/ soon if you are planning on buying one of these coins.
