The United States Mint has published a notice in the Federal Register indicating a revised pricing grid for 2013 gold and platinum numismatic products. Under the revised structure, prices will be higher for every product type listed.
Since early 2009, the United States Mint has used a flexible pricing policy for gold and platinum numismatic products. This was intended to allow greater responsiveness to changes in the market price of the metals and more transparency with regards to pricing levels.
Under the flexible pricing system, the US Mint calculates the average weekly prices of gold and platinum based on the London Fix prices from the prior Thursday AM to the current Wednesday AM. These average prices are taken to an itemized grid with ranges indicated for gold at $50 intervals and for platinum at $100 intervals. For each interval, corresponding prices are provided for available numismatic products.
Generally, when the average calculated price of gold or platinum moves into a higher or lower interval, product prices are adjusted accordingly. When applicable, price changes have usually taken place around mid-morning on Wednesday.
Since the original pricing grids were published in 2009, the US Mint has updated them to remove products no longer offered and to extend the pricing ranges for the metals. In 2011, a separate grid was introduced for commemorative gold coins. Besides these updates, there have been no adjustments to the prices levels established at each interval until now.
In addition to higher price levels for each product, the new grid also combines the previously separate gold and platinum grids into a single grid. This results in $50 price intervals for the platinum coin rather than the previous $100 intervals.
For illustrative purposes, the table below shows prices under the old grid and under the new grid for an average market price of gold (or platinum) in the $1,600 to $1,649.99 range.
|Old Grid||New Grid||Difference|
|1 oz Proof Gold Eagle||1,885.00||1,960.00||+75.00|
|1/2 oz Proof Gold Eagle||956.00||995.00||+39.00|
|1/4 oz Proof Gold Eagle||490.00||510.00||+20.00|
|1/10 oz Proof Gold Eagle||210.50||215.00||+4.50|
|Proof Gold Eagle 4 Coin Set||3,493.00||3,630.00||+137.00|
|1 oz Unc Gold Eagle||1,878.00||1,925.00||+47.00|
|1/2 oz Proof First Spouse||979.00||1,015.00||+36.00|
|1/2 oz Unc First Spouse||966.00||995.00||+29.00|
|1 oz Proof Gold Buffalo||1,910.00||1,990.00||+80.00|
|1 oz Proof Platinum Eagle||1,892.00||2,000.00||+108.00|
|Proof $5 Gold Commem||497.85||502.65||+4.80|
|Unc $5 Gold Commem||487.85||497.55||+9.70|
|3-Coin Commem Set||N/A||563.65||N/A|
Note: The revised pricing goes into effect February 27, 2013.
During 2012, we saw significantly slower sales for many gold numismatic products compared to previous years. In particular, the 2012-W Uncirculated Gold Eagle established a new all time low for the entire series, and the 2012-W Proof Gold Eagles each recorded record low mintages for their respective denominations in proof format. The 2012 Proof Gold Buffalo concluded sales at a level just above the series low set in 2008. Th2 2012 Proof Platinum Eagle is significantly underselling previous years.
Raising premiums for these products may serve to perpetuate the trend towards declining sales and mintages.