Since prices in the precious metals market recently retreated, U.S. Mint platinum and gold coin collecting product prices had to fall on Wednesday, October 24, 2012.
All of the American Eagle coins in collector quality composed of gold and platinum, as well as the American Buffalo, First Spouse issues and Star-Spangled Banner gold commemorative products were in the group that was affected.
Price tags on gold coins decreased because the weekly average on the London Fix for gold fell from the range of $1,750.00 – $1,799.99 per ounce down to a range of $1,700.00 to $1,749.99 an ounce. Hence, a $50 off per ounce adjustment was made on all of the coin collecting products that were produced from the precious metal, per the U.S. Mint’s pricing policy.
A similar situation occurred for platinum. When London’s weekly average retreated from a price bracket of $1,650.00 – $1,749.99 per ounce to one that included anything between $1,550.00 and $1,649.99 per ounce, the American Platinum Eagle Proof Coin’s price also slid $100.
The table below shows the U.S. Mint numismatic products that incurred a reduction, their current prices, and the amount that changed.
|Coin Collecting Products||New Prices||Price Decrease|
|Proof First Spouse Gold Coins||$1,029.00||$25.00|
|Uncirculated First Spouse Gold Coin||$1,016.00||$25.00|
|2011-2012-W American Buffalo||$2,010.00||$50.00|
|2012-W Proof Gold American Eagle (1 oz)||$1,985.00||$50.00|
|2012-W Proof Gold American Eagle (1/2 oz)||$1,006.00||$25.00|
|2012-W Proof Gold American Eagle (1/4 oz)||$515.50||$12.50|
|2012-W Proof Gold American Eagle (1/10 oz)||$220.50||$5.00|
|2011-2012-W Proof American Gold Eagle 4-Coin Set||$3,678.00||$92.50|
|2012-W Uncirculated American Gold Eagle (1 oz)||$1,978.00||$50|
|2012 Proof $5 Star-Spangled Banner Coin||$522.15||$12.15|
|2012 Uncirculated $5 Star-Spangled Banner $5 Coin||$512.15||$12.15|
|2012 Star-Spangled Banner Two-Coin Set||$572.15||$12.15|
|2012-W American Platinum Eagle Proof Coin||$1,892.00||$100.00|
Every Wednesday, prices are subject to change. Weekly averages are calculated from the previous Thursday London AM Fix through to the following Wednesday AM Fix. Another price adjustment would occur if the weekly average for gold or platinum moved outside their current ranges, described earlier, and the London PM Fix on Wednesday also moved in the same direction.
Gold coin prices previously increased on September 19, 2012, and the American Platinum Eagle Proof Coin price last increased on October 3, 2012.
Coin collecting products listed above are available from the United States Mint website at http://www.usmint.gov/.
Information about each of the products may also be found on this site’s section about U.S. Coins.