Price Increase for Numismatic Gold Products Possible

gold2Based on the available data, it is possible that the prices for the United States Mint’s numismatic gold products may be increased tomorrow.

The US Mint determines prices for gold and platinum numismatic products based on the average weekly prices of the metals calculated with the London Fix prices from the prior Thursday AM to the current Wednesday AM. If the calculated average moves into a different tier established at $50 intervals, then a price change may take place. A secondary criteria requires that the Wednesday PM Fix price must agree directionally within any change.

Based on the available data, the average weekly market price of gold will likely fall into the $1,250 to $1,299.99 range. This is one tier higher than the range used to establish current prices. In the most likely scenario, if the Wednesday PM Fix price is $1,250 or higher, then a price increase would take place. If the Wednesday PM Fix price is below $1,250, then no price change would occur.

The products which would be impacted by the potential pricing change include the proof and uncirculated 2013 First Spouse Gold Coins and the individual one-quarter ounce 2013-W Proof Gold Eagle. All other 2013-dated numismatic gold coins have sold out. There have not yet been any 2014-dated numismatic gold products released.

Other News

2014-aseIn other news, the opening sales figures for the 2014 Proof Silver Eagle are now available within the latest weekly sales report posted on Coin Update News.

Opening orders for the popular product reached reached 307,378 units. This was more than 50,000 units higher than the opening sales achieved in the prior year. The US Mint’s 10% discount extended to subscription orders may have driven some customers to order earlier or in greater quantities, boosting the initial sales numbers.

Separately, there have been some recent sell outs for 2013 numismatic products. The individual one-half ounce 2013 Proof Gold Eagle has sold out. The product has last reported sales of 4,824 units in addition to the 7,877 coins sold within the four coin proof set. The only 2013 Proof Gold Eagle product still available for sale is the individual one-quarter ounce coin.

All of the 2013 White Mountain National Park Quarter numismatic bags and rolls were removed from sale yesterday. This coincided with the release of the 2014 Great Smoky Mountains Quarter bags and rolls. Product pages for the White Mountain Quarter bags and rolls had stated that the products would remain available for sale for one year from the initial on-sale date or until inventory is depleted prior to the one-year time frame.

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  1. Brad says

    It looks like the gold spot price may dip back below $1,250 tomorrow by the Wed. pm fix, so maybe the increase won’t happen. It’s not much of an issue right now anyway, except for some possible fence-sitters on the First Spouses. It will likely be a long time before the 2014’s are released. Who knows what the prices will be by then. Hopefully we’ll luck into some “low” prices then like we had for the 2013’s.

    I love the Mint capping the availability period on their products to one year now. That certainly beats the uncertainty of wondering which products will be hanging around for year after year! It would be nice if a “mercy killing” was granted for the remaining 2012 and prior products too!

  2. KEITHSTER says

    Yes Sir’s I’m also glad the mint is going on with the one year limit on some products:) It will seem like a lot of little last chance sales unless they sell out ahead of that day? Looks like the WM. s quarters should end up around 1,606, 800 or so depending on how many snuck out before the door closed? BIG # but not too bad because of the 176,400,000 regular ones the made:>:> Have fun and Good luck All:):>

  3. IPS_STUFF says

    Not sure that 1.6 million is a Big Number for WM “s” quarters.
    If my memory is correct the quantity is right in line with 2012 S mint quarters.

  4. smiledon says

    What will silver have to drop to for a price reduction?
    How long would silver have to be at that low end to remain at the redued price?

  5. Ray says

    @smiledon,seems like silver would have to go below $15 for s silver price drop. we already saw 2 $5 drops after silver started dropping below $30 towards $25, then again from $25 to $20.

  6. thePhelps says

    Ray – silver was actually close to $19 an ounce before the last decrease. I agree the price will probably have to be below $15 before we see another reduction. I am ok with that – it seems to me this is a fair price range at this time.

  7. KEITHSTER says

    Put them up in 2×2’s and trade them for the one’s you need? I have all the atb quarter’s in d except the first one and would gladly trade for any s. As mine came from the bank and the s’s didn’t not the best of trades but a trade none the less and if you need one of the hard to find in true unc it may be the way to go? Or take them to a show you never know someone there may trade you for them most likely the customers? Good luck All:>:>:)

  8. fmtransmitter says

    ANACS just emailed and said they are grading ANY US Coin for $10-10 coin minimum. Thought I would pass along if anyone has been wanting to get anything graded. IMHO they do a great job as I had 5 coins graded by them and very pleased with their service and turn around times. BTW I would rather NGC but it is expensive. Has to be worth it to get it graded and spend the extra.

  9. fmtransmitter says

    @Nick, spen them and release them into circulation to spur the hobby and call your local newspaper or email them and let them know what you did so they can release an article on it..Just my humble response..

  10. Jeff says

    @ fm We both know who the premiere (TPG) is P C G S They command a
    premium on every coin that is graded by them more than NGC or ANAC

  11. Dustyroads says

    fm, There’s no doubt that ANACS is a good grader of coins, but I would be concerned about losing possible buyers as a result of using them. You know I’m not a flipper, but I have seen some great coins sell at great prices because they simply weren’t graded by the top two. Please don’t let me sway anyone from using ANACS to grade their coins, but it’s also important to consider the nit-pickers out there, and there are a lot of them.

  12. ClevelandRocks says

    Old white ANACS slabs rock!
    As long as they don’t “over grade”, ANAC is fine now for medium to low expense coins. I prefer 1-NGC then 2-PCGS for slabbed gold.
    Nothing beats OGP…

  13. AkBob says

    If you’re going to have a coin slabbed/graded then go with PCGS and always buy 70’s (modern coins). At some point, either you, the spouse, kids, grandkids, etc. WILL eventually sell these coins we collect. If you want the most for your bang, collect 70’s and use PCGS. I know there’s a great deal of folks out there that don’t care for PCGS (milk spots problems for exampe, allegedly) or some other reason and I respect your opinion. As far as ANAC’s and ICG, they are probaby fine grading companies but the coins in their slabs usually do not sell for as high as they would in PCGS or NGC. This has been my observation, not saying that it’s alright or not.

  14. simon says

    My additional 2c : I do on occasion purchase a slabbed coin. I have no preference since my focus is the coin itself. I possess several ANACS and ICG and their grading metric is just as proficient as the others. As a purchaser, I don’t think you can go wrong with ANACS or ICG – the tag will describe the coin to high accuracy. I also like the price since the additional self-hype-tax is not included. That said I have a very nice collection of silver ICG quarters of 40’s and 50’s vintage which I treasure. I have a full set of war nickels in ANACS old slabs all graded MS66FS or higher. I doubt I paid more than $ 15-20 for each of these coins. My most recent acquisition is a silver 1971 IKE $ PR69DCAM with the peg leg R for $17.

  15. says

    Jeff…if you look at prices for most modern coins at APMEX,NGC, Silvertowne, Paridise, Silvertowne, etc…you will see that they sell PCGS and NGC for the same price in most cases. The perception that PCGS is is better than NGG is up yo you.
    As for coins that are not modern….I have a few 1914-s,1915,s & 1916-s Saint Gaudens $20 gold coins graded by both PCGS and NGC…and I think they are very much the same.’

    I’m just saying that both NGC and PCGS are eguals in my eyes.

  16. fmtransmitter says

    @Steve: And ANACS isn’t? Meaning someone would pay LESS based on WHO slabbed it rather than the coin itself? Those IMO are uneducated buyers then. ooops, that what the seller wants, I forgot…Sheesh…Shame on me to think otherwise…Educate yourselves if you are new to this hobby please. Otherwise you will lose money and who wants that. I agree with Bob on the moderns. I am in it to collect but he is right thinking if he ever had to sell he will get more for PCGS 70’s. MODERNS ONLY we are talking here…Just want to clarify that. Classics is a whole different thing entirely.

  17. fmtransmitter says

    There is a lot of history to this hobby that I respect and honor, I mean thousands of years, even going back to Judas and his acceptance of coins to betray. THEN there is the shady side, the back room deals, dealers with other dealers making deals, Mint’s making deals with dealers, like drugs or something. That side I don’t like at all and guess what, I bet IT has been going on for thousands of years too! hahaha….

  18. fmtransmitter says

    @simon: If you take your OGP to an auction house like HA, they are going to have your collection graded BEFORE they hit the block. Just seems to be the way things are now a days. I remember reading Michael’s article awhile back about his Morgans and how some were under graded and came back after re grading in higher grades. I have also read about coins receiving higher grades than they deserve based on the value that was put on the submission form.

  19. fmtransmitter says

    To be a grading expert in US Coins could be fairly easy based on US coin selection not being THAT diverse. Getting into the World coins and the thousands of different coins out there, now that will take some major experience and expertise.

  20. fmtransmitter says

    It sucks waking up to a million emails from sellers trying to sell me bullion. I guess I need to go line by line and get removed from the spam lists. I would gladly sell you a $20 bullion silver ounce for $80 all day long.

  21. stephen m says

    GMS, Gold could be currently at a bottom but I still think gold will settle in between $1100-$1200 range give or take a little. I predict $1100 an ounce for the yellow metal by the end of 2014. I base this on an improving economy.

  22. VARich says

    Several analysts revised their ’14-’15 forecast for gold lower off their original forecast last week to a price range of $1100-$1180, for what its worth.

  23. VARich says

    With the mint’s strong numismatic revenue increase in 2013, would be nice if those PM premiums were reevaluated and revised lower!

  24. thePhelps says

    stephen…where did you read the economy is improving? I read China is even cutting it’s production forecasts for this year as they don’t get this uptick either. The industry I work in – is directly affected by growth – and we aren’t seeing any growth and haven’t for several years. If your basing it on unemployment figures – I read that 7 million people are out of work since 2009 and they aren’t just unemployed they have given up looking. Gold could very well drop back to $1100 because of a growing economy – but with the effects QE had as they eased $10 billion – I suspect it won’t get better when they drop another $10 here shortly.

  25. says

    to stephen m: where did you buy that crystal ball? With given production costs of 1200 $ per ounce supply of gold would soon decrease with a market price below 1200 $. And an improving economy would lead to increased demand by rich chinese people. I cannot imagine the price of gold going down further.

    But if it does: I will buy more us gold coins because they are so beautiful. I am looking forward to the baseball hall of fame 5 Dollar coin, the mark twain coin, another UHR, and so on.

  26. fmtransmitter says

    What will drive gold up is the mines shutting down, which we know is at $1000 and ounce. Then reserves will be depleted, spot will go up, mines open back, gold stays high until reserves are replenished IMHO.

  27. says

    It’s going to be hard to predict where metals will be going with the world markets in chaos right now. I’m actually rather glad the US Mint isn’t offering any new big gold products I want at the moment. Hopefully the mess in the emerging markets doesn’t cause gold to spike too much more… at least until the baseball coins come out. 🙂

    As for the silver eagles, it certainly looks like that discount had a substantial impact. It’s good news, and hopefully we’ll see the discount trend continue. Perhaps if we’re really lucky, we may see them extend it to the gold products!

  28. stephen m says

    With the adjustment and fine tuning of QE there will be a continued improving economy in the US. I’m looking forward to the gold baseball commemorative also hopefully at lower gold prices. Gold isn’t mined separately, its mined in conjunction with other metals and minerals simultaneously. China is a big giant bubble that will burst and my crystal ball is in the eye of my mind. An opinion? Perhaps.

  29. Ray says

    I also question if economies are improving. Chi a def started slowing down. Me and my gf are fortunate to both be in what I think as of niche growth markets. Its really all about the niche right now, which also speaks volumes as to how our economy isn’t doing great. I’m in rf sensor stuff for the transportation industry, freight n trains, and she’s in home and business security, which is growing like mad where I live, CO. That’s also moving into a lot of rf sensor type systems. Our economy is and has been flat lined for 5-6 years. That’s my personal opinion. I don’t see any relief from that in the next couple of years.

  30. Dustyroads says

    stephen m, Why are you even considering purchasing a gold product when QE is bolstering our economy and soon to return our markets to maintaining a healthy amount of forward guidance. Since that is apparently the case now, we can all expect gold to hit $500. an oz. and silver $10. in the near future.

  31. GMS says

    fmtransmitter: How in the world did we mine gold for decades when it was under $400 an oz? I hear those ads also saying the production cost on silver is between $18-$20. Production cost haven’t gone up that much!

  32. Brian says

    GMS – I was just about to post the exact same thing! The production cost argument is so obviously wrong, but I see it repeated on coin forums over and over again.

    Triple digit gold will return eventually. But some of today’s low mintage gold coins will hold their value because their numismatic value will increase.

  33. fmtransmitter says

    Agreed. The Tont Beets out there will stay but the HUGE massive operations with a bunch of over head is what I am talking about. IMO again. Tony hires his daughter and Parker, he will keep mining. lol

  34. ClevelandRocks says

    Guys, gas was a little over $1/gal when gold and silver was 1/3 the price it is now. Simple math support increased costs of mining…

  35. CW says

    Too bad the Hoffman clan didn’t stick with the easy bet. Who knew it might be tough to mine in the jungle? It’s nice to see where the gold comes from.

  36. thePhelps says

    I think the miners will mine gold just fine at whatever price they can get for it. If the large production outfits find it too expensive – someone else will and do it for less. I don’t buy into the theory that they have to sell it at $1000 an ounce or they lose money. I am of the belief that if you can’t make money mining at the market rate – then you are in the wrong business and need to move out of the way and let someone else swing the pick.

  37. stephen m says

    Dustyroads, I haven’t purchased a modern gold coin since the 2009 UHR which I got from the mint because I liked it and still do. That’s the same reason I’m considering the baseball gold commemorative, because I like it. I don’t think I’ll ever see $500 gold and $10 silver again but anything is possible.

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