US Mint Gold Coin Price Decrease Likely

As a consequence of the US Mint's new pricing policy, the prices for gold coins will likely decrease this week. Will collectors use this as an opportunity to buy US Mint gold coins?

Under the US Mint's new pricing policy for gold and platinum numismatic products, prices are adjusted as often as weekly based on the average of the London Fix prices from the previous Thursday AM through Wednesday AM. If the average price moves across thresholds set at $50 increments, prices for products are adjusted.

For the past several weeks prices for gold products have not changed, as gold has fluctuated between $900 and $950. The prior week's gold prices will likely move gold into a lower price threshold. The prices for this week's period are as follows:

Apr 2, Thurs AM	914.75
Apr 2, Thurs PM	897.75
Apr 3, Fri AM	901.50
Apr 3, Fri PM	905.00
Apr 6, Mon AM	879.50
Apr 6, Mon PM	870.25
Apr 7, Tues AM	879.25
Apr 7, Tues PM	879.75
Apr 8, Wed AM	?

Unless the Wednesday London AM Fix price of gold is above $970 or so, we should see a price reduction for the US Mint's gold products. Although there are not a large number of gold products currently available, some collectors may have been waiting for a price reduction to make their purchases. Of course, they will also have to consider whether the price of gold might decline further in the coming weeks or months.

The US Mint has stated that price changes will be effective on Thursday mornings, but the past several adjustments have taken place on Wednesday afternoons. Once adjusted, the new prices should remain in effect at least until the following week when prices could be adjusted again if the average price of gold moves out of the $850 - $899.99 range.

The US Mint's currently available gold products, which would have price reductions are listed below.

2009 Ultra High Relief Double Eagle Gold Coin
2008 First Spouse Gold Louisa Adams - Unc
2008 First Spouse Gold Louisa Adams - Proof
2008 First Spouse Gold Jackson's Liberty - Unc
2008 First Spouse Gold Jackson's Liberty - Proof
2008 First Spouse Gold Van Buren's Liberty - Unc
2008 First Spouse Gold Van Buren's Liberty - Proof
2009 First Spouse Gold Harrison - Unc
2009 First Spouse Gold Harrison - Proof

A price reduction would see the price of the 2009 Ultra High Relief Double Eagle Gold Coin move lower by $50 to $1,239.00. First Spouse Gold Coin prices would move lower by $25 to $604.00 and $591.00 for proof and uncirculated coins, respectively.

The last time prices were at these levels was the last week of January 2009. It will be interesting to see whether the lower prices result in a noticeable increase in sales.

Update: As of Wednesday, April 8 around Noon ET, the prices for gold products have been lowered on the US Mint's website.