Based on the available data, it is likely that prices for the US Mint’s platinum and gold numismatic products will be increased tomorrow.

Under the US Mint’s flexible pricing policy, the average market prices of platinum and gold are calculated based on the London Fix prices from the prior Thursday AM to the current Wednesday AM. If the average moves into a different tier (established at $50 intervals for gold and $100 intervals for platinum) than the prior week, then a pricing change will take place, providing the Wednesday PM price agrees directionally. Price changes have been made effective around mid-morning on Wednesdays.

Based on the data from the prior Thursday AM through today, the average price of platinum falls into the $1,650 to $1,749.99 range. In the most likely scenario, as long as the Wednesday PM Fix price remains above $1,650, then a pricing change will take place. The 2011 Proof Platinum Eagle would have its price increased from $1,882 to $1,992 per coin. As of the latest sales report published today, sales have reached 13,764 out of the 15,000 maximum.

Based on the available data, the average price of gold falls into the $1,750 to $1,799.99 range. In the most likely scenario, as long as the Wednesday PM Fix price remains above $1,750, then a price increase will take place. The 2011 Proof Gold Buffalo, 2011 Proof Gold Eagle, and 2011 First Spouse Gold Coins would have their prices increased proportionally by $50 for each ounce of gold content.

2012 Perry’s Victory and Fort McHenry Quarter Designs

Today, the Citizens Coinage Advisory Committee (CCAC) met to discuss the second round of design candidates provided for the 2013 Perry’s Victory Quarter and 2013 Fort McHenry Quarter. A second round of design candidates had been provided by the US Mint after both the CFA and CCAC either rejected or withheld recommendation from the first round of design candidates.

For the Perry’s Victory and International Peace Monument design, the CCAC recommended alternative OH-02 (above, left) with 14 out of 24 votes. This was different than the Commission of Fine Art’s recommendation of OH-03 (above, right).

For the Fort McHenry National Monument and Historic Shrine design, the CCAC recommended alternative MD-03 with 16 out of 24 votes. The CFA did not make a recommendation from the eleven provided alternatives, reiterating a request for a plan view of the fort.

2012 Star Spangled Banner Commemorative Coins

Ahead of the scheduled start of sales on March 5, 2012 at 12:00 Noon ET, the US Mint has posted preliminary product pages for the Star Spangled Banner Commemorative Coins. These pages can be found here.

The pages include coin images like the one shown above. The pages show the $5 gold coins with the “W” mint mark for West Point and the silver dollars with the “P” mint mark for Philadelphia. Shipping for all options is indicated as one to two weeks. The two coin proof set carries an ordering limit of 50 per household. There are no ordering limits imposed for the individual options.

To coincide with the start of sales, there will be a launch event held at the Fort McHenry National Monument and Historic Shrine Visitor Center. The event is held on March 5, 2012 starting at 11:00 AM and is open to the public. Coin sales will also take place at the event.

The individual product option for the one-half ounce 2011 Proof Gold Eagle has now sold out at the US Mint.

The 2011 Proof Gold Eagles originally went on sale at the Mint on April 20, 2011. This is now the third individual option to have sold out. The products still available for sale on the US Mint website include the individual one-tenth ounce coin and the 4 coin set, which includes the three coins that have sold out individually.

As of the most recent sales report, the individual one-half ounce coin had reached sales of 7,855 units out of the maximum product limit of 15,000.

Previously, the individual one ounce coin had sold out on October 14, 2011, after sales reached the maximum product limit of 30,000. The individual one-quarter ounce coin had sold out on December 28, 2011, after sales had reached 10,381 compared to the maximum product limit of 30,000.

This latest sell out is a reminder that some of the 2011-dated products could sell out unexpectedly at any time. Since the US Mint cannot strike any more 2011-dated coins, sales typically continue as long as inventory remains or until the 2012-dated version goes on sale.

Silver Numismatic Products Suspended

On Friday, February 24, 2012, the US Mint suspended sales of the five 2011-P America the Beautiful Five Ounce Silver Uncirculated Coins and the 2011-W Uncirculated Silver Eagle.

A message on each product page reads “This product is temporarily unavailable for product repricing.”

The Gettysburg, Glacier, and Olympic National Park five ounce coins had their priced reduced to $204.95 on December 27, 2011. The Vicksburg coins went on sale January 12, 2012, and the Chickasaw coins went on sale February 9, 2012, each carrying initial pricing of $204.95.

The 2011-W Uncirculated Silver Eagle was repriced to $45.95 on December 27, 2011.

The market price of silver was recently $35.32 per ounce, up more than $6 since the last pricing action.

Pricing adjustments for silver numismatic products takes place through publication within the Federal Register. Gold and platinum numismatic products have a more responsive pricing mechanism, with price changes made as frequently as weekly based on a grid. Is it time to also put silver numismatic products on a grid?

After the next pricing change is implemented, the ATB Five Ounce Silver Uncirculated Coins and 2011-W Uncirculated Silver Eagles will have been priced at four different levels in less than six months.

The US Mint has added a few lines to the product schedule included on their website. Products are now included with release dates through May 15, 2012. However, many products which might be expected to be released before this date are still missing.

As I mentioned last week, the US Mint has not always provided a full product schedule for the entire year. In some cases, it has been released throughout the course of the year, piece by piece. This year seems to be shaping up that way as well.

The listed upcoming products are the following:

The release date of March 5, 2012 for the Star Spangled Banner commemorative coins was previously indicated within a notification published in the Federal Register.

The 2012 Birth Set appears to be a new product offering from the United States Mint. No information is available yet on what the set might contain. Numerous other world mints offer coin sets targeted as gifts for newborns. Many of these sets contain some of the current year’s coins in special packaging. (I think the US Mint will take this approach.) A different approach is taken by the Royal Canadian Mint, which includes a specially designed 25-cent coin.

Update: The US Mint has posted a preliminary product page for the 2012 Birth Set. The set includes proof versions of the half dollar, one quarter, dime, nickel, and cent within a special folder priced at $19.95.

The release date of April 2, 2012 for the Chaco Culture Quarter bags and rolls matches the anticipated circulation release date. The previous El Yunque Quarter bags and rolls were released more than a week after the circulation release date.

The 2012 Kennedy Half Dollar bags and rolls have a release date listed as May 15, 2012. This is much later in the year than last year, when the products went on sale February 15, 2011.

The Chester Arthur Dollars and other 2012 Presidential Dollar products remain as “TBD”. Prior to the suspension of production for circulation, a release date of February 16, 2012 had been listed. There has been no explanation offered for the delay.

Some products missing from the schedule which might have been expected to be released before May 15 include the Alice Paul (First Spouse) Gold Coin. Last year, the Eliza Johnson coins were initially scheduled for release on March 3, 2011, however the release was delayed and eventually reschedule for May 5, 2011.

The 2012-P America the Beautiful Five Ounce Silver Uncirculated Coins are also missing from the schedule. In a previous inquiry, the US Mint confirmed that they would be releasing the numismatic versions for 2012. Last year, the 2010 and three of the 2011 coins had been released at roughly one month intervals starting with Hot Springs on April 28, 2011.

The full 2012 Proof Set, 2012 Silver Proof Set, and 2012 Uncirculated Mint Set are all missing from the schedule. Last year, these core annual sets were released in January and early February. A release date early in the year was established due to customer feedback. The US Mint appears to have backtracked on this change and reverted to releasing the full annual sets after all of the various component sets have been released.