Numismatic Gold Coin Price Increase
Last week, a pricing increase for the United States Mint’s numismatic gold products was only narrowly avoided. This week it is much more likely that a price increase will take place.
For the current weekly period, the average market price of gold is solidly within the $1,650 to $1,699.99 range. In the most likely scenario, as long as the Wednesday PM Fix price is $1,650 or greater, then numismatic gold coin prices will be increased by one increment, or $50 per ounce of gold content. The impacted products would be the remaining 2011 Proof Gold Eagles, 2011 Proof Gold Buffalo, and First Spouse Gold Coins.
Pricing changes have generally been made effective some time between mid-morning and noon on Wednesdays.
America the Beautiful Quarters Products
The United States Mint has published pricing for America the Beautiful Quarters Two Roll Sets. The two rolls containing $20 face value in quarters will be $32.95. This is a decrease from the price of $39.95 effective for last year’s releases.
For the 100-coin bags containing $25 face value in quarters, the Mint had previously indicated pricing of $35.95. This is also a decrease from the price of $49.95 charge for last year’s releases.
These pricing adjustments are a welcome change, especially considering the fact that the America the Beautiful Quarters have been difficult to obtain from circulation channels. The bags and rolls for the first release of 2012 featuring El Yunque National Park are scheduled to go on sale February 3, 2012.
Separately, the US Mint has posted an image of the Three Coin Set for the El Yunque Quarters. In my opinion the packaging design is a vast improvement from the previous version, which was simply black and white. The America the Beautiful Quarters Program in particular provides an excellent opportunity for the US Mint to incorporate images and historical information within numismatic products. Hopefully, the new design for this product is a sign of things to come.
Vicksburg Five Ounce Silver Uncirculated Coins
Effective tomorrow, January 25, 2012 at 12:00 Noon ET, the United States Mint will remove the household ordering limit for the Vicksburg National Military Park Five Ounce Silver Uncirculated Coins. Since the start of sales on January 12, the product has been subject to a five per household ordering limit.
According to the most recent sales data (through January 17), the US Mint has received orders for 7,861 coins out of the 35,000 maximum limit.
Pricing for the America the Beautiful Five Ounce Silver Uncirculated Coins is currently $204.95 per coin. This pricing was established though publication in the Federal Register dated December 30, 2011, although the price was made effective for available designs on December 27. The market price of silver on these dates was $28.65 and $28.18. From the lower number, the market price of silver has now increased by nearly $4.00 per ounce. Any further increase in the market price of silver makes a pricing adjustment for the product a distinct possibility.
Unlike with numismatic gold products, the US Mint does not have their pricing criteria for silver coins explicitly stated. Product sales have been suspended without warning and reinstated with new prices. These pricing adjustments have caught some collectors by surprise.
Michael,
As far as you know, these new, lower prices will only apply to 2012 bags and rolls of quarters beginning with the El Yunque coin. I don’t see why they could not also lower prices for the 2011 products. At the new prices, I might be interested, but I will not pay double face value for last year’s coins.
Wow, that 3-quarter set packaging IS a vast improvement! It’s delightfully reminiscent of the 2009 quarter covers. I haven’t bought ANY of the 3-quarter sets in the past, but if they had all looked like the El Yunque from the start I very well MIGHT have! It’s too bad there will be no revision of the 2010 and 2011 packaging, though.
At this point, I don’t know if the lower prices will be applied to the 2011 products. In past similar situations, sometimes the US Mint has adjusted the prices of prior year products, while other times they have not.
The Federal Register notice refers simply to “America the Beautiful Quarters Bags” and “America the Beautiful Quarter Rolls” (without regards to date) so it does leave open the possibility that prices for 2011 products will be decreased.
Thanks, Michael. I agree with Brad about the new packaging. I don’t normally buy that kind of product, but I would consider them with the new packaging, esp. for gifts.
Good news about the quarter rolls, of all the Mint’s numismatic clad products, this was the one that most needed a reduction excepting maybe the $1 coin rolls.
When do you think a price increase on the silver products will come? My friends and I think $33 is the “red line.”
I find interesting that the US Mint has only released the dates for Jan and Feb products. I have a feeling they are working on new coins. The recent survey maybe an indicator. I just hope they remove some of the less popular products instead of adding on top of what is already available. Its becoming difficult to keep up with all the new releases.
Sold my burnished w for a quick $600 profit. No regrets.
I may be wrong, but new mintage lows will be the new “norm” unless gold tanks, in which case current numismatic gold rarities will also suffer.
Thinking about buying 3 ATB 5ozers with my profit.
Wonder if any FS will have final sales under 2000?
Cleveland,
Due to the volatility of gold prices it’s hard to say. We’re probably getting close to the point where sub-2000K sales are possible for the uncirculateds, though. Michael’s sales report is pretty indicative. http://news.coinupdate.com/us-mint-sales-quarters-proof-sets-debut-1185/
I feel pretty safe predicting that of the next five first spouse coins, at least one will have a final sales figure of under 2000.
Of course, volatility of gold prices always changes things. I see it made platinum go up, and probably spurred the increase in Vicksburg sales. I know I was one of the ones who bought it when the price jumped to 31.
What surprises me is that the sales of the 2011-W ASE didn’t jump even with the looming threat of a silver price increase.
The 2011-W ASE could be a sleeper and is a good deal with regular bullion eagles approaching $40. I would like to get another at the current price with the Chickasaw release but silver prices make that unlikely. I am now thinking of getting it on 2/3 if still at the current price along with some cheaper products coming out then that I want as gifts for a younger collector.
With the spouses, I am not sure about sub 2K mintages. So far the lowest final number is about 2900, and even poor, unloved Eliza Johnson is getting close to that. Between the core of FS collectors and flippers who know these coins do well after sales end and the long sale widow, I think most will sell in the 3K range or more for some popular releases like Jackie O, I mean Jackie K!
Cleveland: Was that for a raw (ungraded) 2011-W AGE? That’s pretty good, but with today’s sale numbers showing it is still lower than the 2008-W quarter ounce, prices could really explode. That is unless the whole new normal argument pans out, but that will be a while. I don’t see this coin peaking for some time.
I may be wrong, but I don’t see folks spending thousands of dollars on a blah coin. The total $ people will spend on one coin is limited. If gold falls below $1200, the gold W could fall below issue price.
How do you like that? The gold coin price increase could have been avoided again this week had the Wed PM fix been .25 cents lower!
Silver has topped $33/oz just now. Anyone interested in the 5oz ATB’s or the UNC Silver Eagle – don’t wait…
Silver is banging up against $33. There has got to be a price increase coming any day now. Folks who want the AtBs or the 2011-W ASE and have yet to buy should get one now, if they can afford it.
Cleveland says: I may be wrong, but I don’t see folks spending thousands of dollars on a blah coin. The total $ people will spend on one coin is limited. If gold falls below $1200, the gold W could fall below issue price.
Guess you have not followed the prices for other blah coins: 2K each for the three burnished half ounces that issued around $500 each, $1500-1600 for the 2008-W quarter ounce, etc.
As for total amount on a coin, are you kidding? Just limiting to moderns, there are all kinds of coins that sells for 3K or more each all the time. The 2008-W and proof Buffalo $50, 2006 reverse proof gold, etc.
Gold is up $25 today.
Louis,
Don’t know what kind of $ you think folks have but most of us must pick and choose a high priced coin, especially on the aftermarket. Nice looking coins like the Julia Tyler will do better than lower minted coins that are ugly.
With a real possibility of a new norm of lower mintages, my point is that the burnished – w does little for the eye (same look as millions of bullion eagles with a tiny w), SO it will appeal only to so many collectors with a lot of cash to burn. I think most of us (not all) would agree that the buffs look nicer than the eagles, especially since they are not as common (especially the fractionals). The 06 reverse proof has a much higher mintage than the 11 w, but is a WAY cooler coin to look at.
Man, I got back from lunch, checked Kitco, and saw that all Hell had broken loose on gold and silver! I wonder how long this will last? It looks like it’s decision time pronto on those ATB numismatic pieces!
Thank you DC. Guess time will tell.
Silver over $33. Any guess on when silver products will go up?
Would be nice if a silver grid was published.
Anyone know why PMs are jumping?
Cleveland,
It’s due to the FOMC statement. http://blogs.wsj.com/economics/2012/01/25/parsing-the-fed-how-the-statement-changed-21/
The Federal Reserve indicated continuing loose fiscal policy, essentially. Gold and silver have been responding accordingly.
I cannot believe the Mint hasn’t suspended the silver coins for repricing yet. I’ve been checking periodically since the silver surge today and no response. I wonder if their repricing scheme is more strict than I thought or if they’re just slow on the draw. We’re now about $5 over where the price was when they cut prices.
I placed my order for all four of the 2011 P ATB 5 oz. coins from the Mint Friday. I guessed right that silver was heading up. If you’re on the fence I wouldn’t wait much longer. I may order another set later today before a possible suspension of sales.
Whats the big holdup on the mints shipping Vicksburg 5ozers ?
My order went in the first 30 mins. My #387235xx
Has anybody received theirs yet ?
Olde Sailor Bill
Captain,
Im willing to bet that those in charge of pricing the products do not religiously check the markets. They probably only just check spot prices when they stroll in at 9AM, so theyre totally clueless as to what is happening now.
As for the Fed statement, since theyre now committing to 0% rates until the end of 2014 (previously only until 2013), one could take it as a signal that they have no confidence in the growth potential of the economy. That’s why I dont understand today’s stock market rally.
Having said all that though, Im still not sure about buying the ATBs. Time now for some tough thinking….
There’s an options expiration in metals commodities tomorrow. The price should get knocked down in bullion but may not be enough to keep mint silver prices from going up. Yeah, its climbing today but that could be just the big boy commodity traders running the price up for the knock down tomorrow in order to take advantage of the small traders not paying attention. If there is something you like or want in mint silver I say get it.
There is an options contract expiration tomorrow in metals that should take the bullion prices down but may not be enough to keep the mint silver prices from going up. Yeah, there’s a run up today but that is most likely the big boy commodity traders running up the price to get the small fry to jump in today only to get hammered tomorrow with big losses in the metal markets. If there is something you like in mint silver I say get it. The 5 ozers. appear to be a good buy but I have lost interest in them like many others. Could be a mistake on my part. Time will tell.
OSB, mine hasn’t shipped either. Usually that means that PBGS flat does not have the product in house. Why not is anybody’s guess. The mint & PBGS have really gotten into this bad habit of offering items for sale that they aren’t ready to ship and it is starting to bug me something fierce. Just admit that you aren’t ready and delay the on sale date. And stop calling it backordered, like there is some outside force at work. The single biggest thing that has angered me most since PBGS took over fulfillment in 2009 was that they have not told the truth once about what is causing product delays. It seems that they would rather lie than admit to any possible shortcoming. Just start telling us the truth, no matter how it makes you look. If you screwed up just say so. If 5,000 AtBs were in a truck fire and trashed just tell us. But stop already with “backordered”, expected ship “today + 14″. Just say “we have no idea when we will be able to get product and ship it out” or “we are too stupid to count inventory and ship at the same time” or “the one person we pay to pick those is on vacation” or whatever the truth really is. Here is a little truth, customers don’t appreciate being lied to.
On another note, with the spike in spots, the platinum Eagle is a bargain for a few more days, It just got in under a $100 price increase today and is only $100 above its lowest this year. Next week, it will see another $100 or maybe even $200 jump.
OSB ; Vicksburg 5ozers My order went thru in the first 5 min. then I got an email that it was backordered delivery 1/27 then got another email that would ship 2/3..my order # is 387236xx .Just a question how is your order # lower then mine when I placed my order with min.’s of opening ?
Clair,
I agree on the 2011 platinum eagle. A good friend of mine got in just before the last price increase and got it at the low ebb. Platinum has taken even harsher body blows than gold, but I think it’s still a solid investment.
I just called the Mint to ask what was going on with my Vicksburg order I placed on Jan 12th. They couldn’t explain anything in a logical way at all. They said their computer system is old and can only say my order is backordered for two weeks. I told them I didn’t care what the computer said, but wanted them to tell me when I should expect my coin, they kept telling me it’s the computers fault. I told them I don’t mind waiting for a period of time, but WHAT WILL THAT BE?
Rediculous to give a date that changes every day. They kept saying it is the old computer’s fault…….very frustrating. They don’t get it.
Goat
I ordered on line ……… the conformation email time was 12:15PM.
Bill
One good thing about platinum (and the other five elements in the platinum group) is that as long as there is a technological society, it will have significant intrinsic value. The platinum group elements are extremely useful catalysts in many important chemical reactions. Silver’s main use has all but disappeared (film) and gold isn’t needed in anywhere near the quantities it is available in. Of course, the intrinsic values are not that much a part of the spot as they once were but they do establish a fairly hard bottom should things go that way. If the bottom were to fall out of the PM market, platinum would stop dropping long before gold and silver.
For those unfamiliar with the “platinum group”, it is the block of six elements to the left of silver and gold on the periodic table: to the left of silver are; palladium, rhodium, and ruthenium. To the left of gold are; platinum, iridium, and osmium.
Matt (3:29 PM)
I believe you are way off base thinking that today’s run up in gold and silver and all other PMs is a bull trap. Today’s run up is due entirely to the FED’s acknowledgement this afternoon that they are willing to continue devaluing the US dollar. Today’s price increases did not happen in a vacuum, see the dollar at 12 noon at $80.17 and the dollar now at $79.45.
Regardless of what happens tomorrow ( I personally think we’ll see a short squeeze) rest assured, the lows are in in all the PMs. Buy with confidence.
i also think it is short squeeze.
There’s more to the reaction of precious metals today and I’d be careful stating that the lows are in for any extended period. However, the Fed has apparently stated that interest rates will remain at 0 until 2014. This essentially means that savers will continue to lose any chance of earning a return on cash. Furthermore, with interest rates set at zero this means the Fed will have to continue purchasing bonds or risk default, which will happen eventually anyway. The Fed’s purchasing of these bonds will continue to be inflationary. The stock market will continue to rise due to inflation, so I wouldn’t expect a crash there either.
Aimee,
I am generally very careful when I use statements like: “the lows are in” and this time is no exception. I do not believe we will see gold – $1524 or Platinum – $1344, etc. for at least another 10 years. The lows are in, buy with confidence.
I am not being flip and just so you know I walk the walk, I did this day purchase a Platinum Eagle. two Lucy Hayes FS and six 2011P ATB 5oz. (I had already paid more, through subscription, for my twenty W Silver Eagles.)
That’s just what I purchased from the US Mint. I acquired more PMs through Provident Metals. As long as the money holds out, I plan on buying more in the next five – six days.
There’s still time to get great deals from the US Mint, but not much time.
Clair,
Commenting to your interesting information on silver, even though its use for film has certainly diminished, silver is being increasingly used for medical purposes such as in wound care in healing ulcers.
which first spouse is the lowest mintage so far? i am not interested in the theme, but want to make a bet on it.
There have also been dramatic increases in the use of silver for solar energy, plasma TVs, smart phones and an impressive list of other electronics items that have increasing sales worldwide.
Samuel, I chose Lucy Hayes Unc. because not only is the mintage slightly below 2000 it’s the nicest looking FS of the year.
Lowest mintage so far UNC Lucretia Garfield.
Caution, Lucretia Garfield is the newest release and it’s gaining in sales on the other available 2011 FS.
Clair or Captain O,
Are you referring to Platinum Eagles at $1792 as exceptional deals or has the price adjusted in the recent past? I haven’t followed the Platinum Eagles at all so I’m unfamiliar with their price movement.
My recent order just shipped from the Mint tonight and even though it was over a thoudand dollars, it is being shipped UPS Second Day Air. In the past any order over $300 received an automatic upgrade to UPS Next Day Air. Has this happened to anyone else??
Tallon and Samuel, lets see what happens tomorrow in the metals. I am going on past records which ususally shows a metal price drop on contract expirations which I understand is tomorrow. This large run up today looks suspicious to me. I concede there is a possibility of a short squeeze but I think generally metal is disconnecting its relationship to the dolla.
“I am not as concerned about the return on my money as I am the return of my money.” Mark Twain
“If printing money is the way to economic prosperity, where did Zimbabwe go wrong.” James G. Rickards
Silver at still more than 30% off summer high, gold only 10% off high…
Gator,
The Mint raised the price from $1692 on Jan. 18. For comparison, I bought it when it was $2100. Michael put up a story about it here. http://news.coinupdate.com/proof-platinum-eagle-re-priced-1177/
My friend that I persuaded to buy it purchased the coin on Jan. 17, one day before they raised the price.
Matt,
No matter what, there will be some kind of profit taking tomorrow I believe.
vaughnster,
My APE is also shipped today, via UPS 2nd day air, but scheduled delivery is Friday end of day. Not next day before 10:30AM?
Yep. Mine is scheduled for delivery by end of day Friday with signature. I guess the days of Next Day Air by 10:30 am are over..
2nd order partially shipped, leaving Vicksburg and W AGE back ordered.
not sure whether the 3rd order will be partially shipped soon, since it contains Vicks as well.
nobody earlier than me? seems neither short squeeze nor bull trap.
Samuel, for now looks like Tallon was right and the Fed announcement scared people into metal big time. Another run up and the mint surely will shut down silver and readjust upwards. Metal price on the march but lets see where it is at the end of the day its still early.
WOW! Some folks on here must be loaded(moneywise). The metals are riseing for the short term and i think by years end will most likely be at their all time previous highs. P.S. rememember the government moves slow but steady. I look for the mint increase on their products very soon.
Stephen,
Collecting coins has never been a poor man’s hobby!
As of right now, the price of silver is $33.56. How long can the Mint hold out? The 2011-W ASE is a pretty good buy now at this price.
I purchased a few more W ASE. These are really a good buy at this time. Current price won’t last much longer.
I’ve pretty much decided not to bother with buying the 2011 P numismatic 5 oz. ATB’s, despite the looming price increase. I really don’t plan on trying to build a set of them, so I don’t figure I’ll tie any money up in them hoping for a future return. There’s no guarantee the Mint will finish what they’ve started anyway, as the P versions could be discontinued at any time. They’re not required under the law.
For anyone wondering which ones might be the best, it could turn out that the Gettysburg and Glacier could be the winners, and to a lesser extent the Olympic. Even if they were minted to the full 35,000 level, that’s still far fewer than their bullion counterparts. The Vicksburg and Chickasaw numismatic pieces could end up with similar mintages to their bullion versions.
I’d only buy them if I really wanted them. It may take a while before any decent return could be made on these, so speculators should beware.
In closing, as Dennis Miller would say: “Of course, that’s just my opinion. I could be wrong.”
Not following Brad’s logic. Seems Vick and Chick would be at least as rare if not more than the other 2011s. Who cares what % of bullion # a numismatic has?
5oz ATBs are the best value from the Mint now period!
I would have bought the 2011 Platinum Proof Eagle when it launched last Spring at$ 2,092 but didn’t have the money saved for it at that time. I ordered mine on Jan. 18 in the early A.M. at it’s lowest price of $1,692 and the Mint did accept my order (it’s on the way!) There was no way I was going to miss out on the beautiful coin before all of them sell out. anyone who bought the coin at it’s highest price offering should not worry though. Platinum only is destined for really big things in the next several years. By the way, if anyone is on the fence to buy the platinum coin at today’s 1,792…. platinum has now moved up into the middle of the next repricing tier (1,892) which may occur this coming Wednesday. HEADS UP!
I think after Mint employee finish their morning coffee and see ATB/ASE orders flood in, they will adjust the price.
The mint didn’t send overnight for a week since they had inventory. It was on the site. As far as Vicksburg another email today for delay of shipment to feb 6.
In case you’re uncertain and think prices will crash over the next few days, then you can always order the Vicksburg ATB (NP9). This coin won’t ship for another week at least so you’ll have ample time to cancel the order. Plus, it helps if you need to wait for the next pay check as they won’t charge until early Feb!
Clevelandrocks,
Some collectors care about owning the version of a coin that has the lowest mintage of it’s type. I was just pointing out that the difference in mintages for the later 2011 ATB P coins aren’t nearly as striking as the first two, and that could give those early designs an edge later due to the bullion versions being much more available. That thinking isn’t for everyone, but it’s something to consider.
I just saw that the Chickasaw 5 oz. ATB was added to the list of upcoming products, and it already lists the price of $204.95 instead of “TBD.”
Maybe the Mint just wants to move these coins that ended up being much slower sellers than anticipated out the door. Since the silver used to make them was bought for a lower price than the current spot price, (which was mentioned in the 2012 pricing policy statement somewhere) they will sacrifice any further profit that could be made and settle for what the $204.95 sales price will allow. Yeah, right!
My Vicksburg ATB-P order status changed to ‘in sock and reserved’. The Feb. ship date on new orders is gone.
I love the ATBs! This years designs are all very good, They better hang on until 2014 when Shenandoah, The Smokies, The Everglades, and Arches come out. Love those parks and those coins could be beauties. I still think the ATBs will be sought after in years to come. Especially as subsets, real National Parks, places you’ve been, historical Parks, etc. Bullion costs could be the biggest problem to collectors. In years to come Yellowstone, Arches, The Grand Canyon, Yosemite, Glacier, etc will always be in demand. I don’t know why someone in the national Parks themselves doesn’t sell these at the Parks or on their websites.
Goat
I’ve been noved to In Stock & Reserved…….thing maybe happeining ?
OSB
The Mint has announced prices for the 2012 commemorative coins in a notice published today in the Federal Register:
http://www.gpo.gov/fdsys/pkg/FR-2012-01-26/pdf/2012-1599.pdf
Old folkie,
Even if the numismatic versions they sell at the Mint stop being produced, they will at least continue the bullion versions, since the bullion versions are mandated by law.
Brad,
I am beginning to think this may be the case. Perhaps the Mint is oversupplied and simply wants these coins out, and is afraid to kill sales by raising the price.
I don’t remember see any references yet to the 2012 5oz P pucks. Maybe that is why they are surveying collectors about possible special ASE sets, so they don’t produce stuff most people don’t want.
Thanks for posting that info Jon.
Hey, anyone know what this product is or what is included? “2012 Infantry Soldier Silver Dollar Defenders of Freedom Set” It’s only $61 so I would be surprised if it contained more than one silver coin. But what else would be included?
Yes I too love the ATB coins since I have visited many. I also did purchase them only once they were at the 229 price. Gettysburg is one of my family’s favorite parks so they each received that for a Christmas gift. Vicksburg is a perfect complement since both battles were at about the same time. When the prices decreased I did order next years Vicksburg and Olympic (visited on cross country trip) for Next year!
CaptainOverkill, that “2012 Infantry Soldier Silver Dollar Defenders of Freedom Set” might contain a 2012 Nisei Soldiers of World War II Bronze Medal. The 1.5″ version of that medal currently sells for $7.95. Just a guess.
OSB I have also been moved to In stock and reserved .My Email was 18 mins after the hour , lot of movement in that short period of time. I read others are being shipped.
Goat
Goat
My Vicksburg shipped today…………hope to see them Monday !
Bill.
OSB
Mine is marked closed and shipped also. Someone had stated an order two days ago has shipped. The mint systems must of really failed. Hope the best for the mint maybe someday in this will only be a memory. Still fun.
Goat
I stay home the whole day and just left house for about 20 minutes, and I missed the UPS delivery?! Can’t believe it.
Samuel,
hilarious post! i thought i was the only one that ever happens to.
Can anyone help a newbie to the metals market. I noticed the release date for Chickasaw is in February at $204. But, provident metals has these for sale at $186. How does provident have them for sale already? Why the price difference?
Tim-
The ones available from Provident are the bullion versions of the coin. These were minted and distributed during 2011 as bullion coins, based on the market price of silver plus a premium. The coins have a brilliant finish and no mint mark.
The ones offered by the US Mint in February are numismatic versions. These have a different varpor blasted finish and “P” mint mark, and a maximum mintage of 35,000. As a numismatic product, they are sold directly by the US Mint at fixed prices.
Michael,
Thanks for the clarification. Excellent and very informative blog.
Novice to coin colllecting. Which would be the wiser investment: purchasing a Vicksburg Coin diectly from the mint or pay more for an already graded NGC or PCGS Vicksburg Coin on EBAY.