US Mint Numismatic Gold Coin Price Decrease Possible

proof1Based on the available data, it is possible that prices for the United States Mint’s numismatic gold products may be decreased tomorrow. This would put the 2014-dated gold products at their lowest price levels thus far.

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

The available data from May 29 through June 3 places the weekly average price of gold within the $1,200.00 to $1,249.99 range. This is one tier lower than the range used to establish current prices.

Pricing action will likely be dependent on the Wednesday PM Fix price. If the price is below $1,250, then a product price decrease would take place. If the price is $1,250 or higher, then product prices would remain unchanged.

As noted, the available 2014-dated gold numismatic products would see their prices reduced to the lowest levels available to date. The 2014-W Proof Gold Eagles, 2014-W Proof Gold Buffalo, and 2014-W Uncirculated Gold Eagle had each started sales with prices based on a weekly average gold price within the $1,250 to $1,299.99 range. Since release, the products have seen higher price points, but not lower.

Other impacted products would include the proof and uncirculated 2013-dated First Spouse Gold Coins, which continue to remain available.

If the pricing action takes place, current prices would be reduced proportionally by $50 per ounce of gold content. Price changes for numismatic gold products have typically been made effective around mid-morning Wednesday.

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Comments

  1. Dustyroads says

    GF, Good sound judgement.

    VA Rich, If we’re talking early labels as GF just mentioned, then I see your point. My point is that probably only 45% + the unopened boxes are actually sent in for grading.

  2. GoldFishin says

    It pays to at least remove coins from the OGP and give it a quick once over before you submit them. $40 to grade this coin and the seller is assuredly going to lost money after Feebay and paypal fees.

  3. Dustyroads says

    Steve, It just makes you wonder why the people at firstmoderncoin would submit it, I guess they could have just been dealing with too much that day, whatever the reason, they most likely won’t make much off the sell. You thinking about maybe getting it cheap?

  4. says

    WOO-HOO! YIPPPEEE! The mint boxes are here……….and there are my BHOF gold. 2 PF and 2 UNC. And what do I also find……..? A second box. My wife was on the other computer at the same time as me……trying to get in. And she decided to surprise me for my birthday. She ordered another one each of the PF and UNC. So, now I have 3 of each. I’ve spent some time looping them. First of all, it is indeed very difficult to get these out of the packaging…….so stupid. Had to push them out from behind. Then, after a good review, one PF has a fairly decent 1/4″ scratch in the top quarter panel of the front, over the ATE. But, there’s nothing to do. If I send it back, there will be no replacements. How can that ever be? There were only 38,000 of these made. There are no replacements around. Would the mint ever consider replacing this one with someone else’s and then sticking someone at the end with this scratched one? I’m gonna just bite the bullet and keep it. I got six, not gonna flip ever. I consider myself so lucky to have them. And, to stay in the OGP…..at least while I’m alive. Not sure what the inheritor will do………! ENJOY!

  5. GoldFishin says

    Congrats Wacpac!! Wish my wife was so thoughtful(well she is thoughtful), but just not knowledgeable enough to order me coins. Nice on both fronts!

  6. Pittsburgh P says

    @Wacpac Congrats!!! It is those type of stories I like to hear! Enjoy them to the fullest… Hope you got a good display for them. ENJOY! :-)

  7. GoldFishin says

    @Pitt P. – She reads some of it when she is sitting beside me, I have my computer display on our basement big screen tv, so it is easy to see. I will make sure I avoid any comments I make about her, but I think they were good, right?

  8. says

    Wow..wacpac83…your wife is one smart gal…congrats to both of you. And please let her know how proud we are of her for doing something like that for the husband she loves! I think it’s soo cool that often times guys try to hide their coin purchases from their spouse, and then to have your spouse surprise you like that..I think that is every man’s dream come true. Most guys try to hide their purchases or at least try to justify them…for your wife to do that…well I tip my hat to both of you!!

  9. Pittsburgh P says

    @Gf… I was messin with ya. You caught yourself before you said anything damaging…

  10. GoldFishin says

    The Shenandoah pucks just have zero wow factor on Ebay. With such a dismal early performance this may be the sleeper coin that nobody wants now, but everyone may want a year from now if the mintage ends up being the low for the year. If the mint is determined to sell 30,000 of them, we might have a colony established on Mars before they are all sold.

  11. says

    Hey guys,
    Thanks for the kind words about the wife. She is actually the PAC in my name here. I’ve been into coins since my paper route when I was 12. Always held on to what I found and could buy over the years. All the stuff in the grandparents drawers and such, you all know. Now that I’m semi retired, I’ve found that I can somewhat afford to jump back into all of this again. Leave a legacy for the grandkids. My wife gives me a lot of leeway to dabble in all of this…….I’m really lucky. I hope you all are too. Sorry if I’m getting kinda sappy here, I’ll never do it again. promise! ENJOY!

  12. mgm says

    In your dreams… The mint could of done better…

    Eddie says

    June 5, 2014 at 11:17 pm

    I think the Sand Dunes will be the best looking 5ozer of the lot.

  13. says

    wacpac83, Love the story, it does testify to your wife’s good personality and love. I always ask my wife not to buy me anything for my birthday, of which I have one coming up on the 20th…51. When my wife does buy a gift for me it’s usually cloths, and that’s a good thing because I then can finally have a nice new pare of wranglers, old wranglers, and a sports coat….I’m set. But for her to buy me a couple $5. BHoF’s, WOW!

  14. Peter says

    Off topic re BHOF gold.
    I attended Long Beach today, and may have some better insight as to who will or won’t receive the coins they ordered. A prominent and very friendly dealer who seemed to be confident of his information told me that they did not sell our for at least 24hours, but not far after. Customer service at the mint has been telling us 8 hours, and yet they kept taking orders for almost 3 days including maybe 10,000 beyond the limit? Plus, there has been so much time to speculate because of all the excruciating delays. We will see soon.
    The show was okay. I did get to see the overpriced Saddle Ridge hoard, and the coins are spectacular. Also, saw an 1804 dollar which I’ve never seen in person until today, so that was cool. Otherwise, about elevendy bazillion dollars worth of gold, currency, and coins.

  15. VA Rich says

    Mk – I know, right? I been wondering if wacpac’s great catch has a twin?! lol

    Hey guys, a lot of great thoughts and input on the possible future of the $5.., thanks for the insight – valuable stuff!

    You know on the Silver Dollars, 262,091 of the $1 PRFs and 137,909 $1 UUCs is a lot of coins.., there’s also a lot of dads, moms and grand paws buying for gift giving, corporate buying, team buying, international interest, and many of the folks out here holding on to more than they really should ’cause they just like them and appreciate they’re uniqueness…, any thoughts on where you might see the $1 headed so we can come full circle?

    Steve, GF, Mk, anyone else, thoughts? Thanks

  16. Pittsburgh P says

    VaRich its hard to foresee the BHoF Silver 1$’s direction… Imo they will always be a unique & popular coin in numismatic circles and beyond. The mintage may be high but demand should hold even when the mint ships all of them out. You made valid points about the FS/ER labels and I thank tou for the numbers you have been sharing. I do not collect labels but did get a set of these graded and got an extra of the clads in 70 FS. Am interested to see those numbers.
    Anyway, to wrap this up and answer the question Imo the silvers will drop considerably in the next few months(still bringing an ok premium though) Only to rebound once they are locked in safes and in peoples collections… When the second wave of interest comes through and some people just seein them for the first time(hard to believe the way we talk about ‘em :-) but MOST people don’t know about the BHoF coins). The price will rise then stabalize…

  17. stephen m says

    VA Rich, I would think the BHOF silvers, when the dust settles, will mimic the silver buffs in price or maybe more.

  18. stephen m says

    wacpac83, It sounds like you both got lucky when you found each other. Wow!

  19. jeff says

    I think there’s a couple of factors that we don’t know how it will play out. One is commodity price increase, another population expansion uniqueness, first curved coin produce 400000 is not a lot to go around. I still contend buy labeled coins this is where the premium is most appreciated. And these will be great coins to trade many won’t have them many will trade ..

  20. says

    Jeff,

    I think that buying coins with various labels has, unfortunately, has now become a separate hobby. Buy the coin,, not the label,

  21. eddie says

    @mgm the reason I say that is because as a quarter it doesn’t look very good at all. But as a 5 ozer I think it will be a great looking coin. I am looking for the arc 5 ozer it will look better than the quarter size.

  22. says

    This is not a new comparison, I know, but the 2001 Buff should act as a good one. The graded issues are quite a few stories higher in price than the solid $300.00 price tag on the ungraded sets, and with the strong demand for the early labels taken into consideration, we should see three or four price tiers for these in the future. I say they’re a great addition anyone’s coin collection!

  23. Brad says

    My 3:46 pm 3/27 order of gold coins just shipped this morning. However, my 3:56 pm order for more gold coins Is still “backordered” to 6/30. I must have caught the very tail end of the second wave of fulfillment.

  24. fmtransmitter says

    Again, I am always impressed when a sad coin sits on the shelves. It shows we are picky, and have many options to spend our hard earned cash on and if you don’t it right then it will sit. Take note US Mint. Everglades will be the next quick sell out of the pucks…

  25. fmtransmitter says

    Maybe there is a method to the madness. Make a couple really nice, first, last, the rest garbage, and those can be the low mintage chasers reward for loyalty…Who knows…

  26. eddie says

    Can anyone help me out?
    I ordered my gold BHoF coins and it has on hold and in the box it says in stock and reserved and the cancel box is still there.
    Is this normal or should I call the Mint or should I wait until the cancel box is gone to see what happens?
    Thank you for any and all help about this.
    Eddie

  27. VA Rich says

    A lot of good thoughts on the $1 BHoFs.., thanks guys! I like how we’re rather all over the map in our opinions and not all skewed in one direction, tells me that the there’s still a lot of extraneous factors at play and the doors wide open for a multitude of possibilities.., should continue to be a wild ride and a lot of fun to watch. I suspect when the JFK is released, that will be a good litmus as to the BHoF short term staying power, though still of the opinion by year’s end, it’ll all be sitting pretty!

  28. Brad says

    Eddie,

    Call them for sure. If the order switched back to “on hold” status, there is some sort of unresolved issue regarding the credit or debit card you used. If you don’t take care of it, the order could be cancelled.

  29. Pittsburgh P says

    @eddie if its on hold and was in process before they may have tried to run you card an it was declined, is expired, or some other issue. Check you CC to see if thats the problem and call them to correct it. If you dont they will just try to run it again in a few days to a week then if there is still a problem send you an email. This happened to me and even though I called and correceted the issue immediately it delayed shipping cause they take you out of the shipping order and put you back in when they are to verify your CC. So if thats what happened with you I’d get it resolved asap or you may not get it til the next shipment wave…

  30. Pittsburgh P says

    VaRich are you saying the JFK will be somthing to compare the BHoF sales/popularity too or that when the JFK coins are released we will see if the BHoF coins are still as popular no longer bein the new hot release? If you are stating the former I’d have to disagree… They will be two totally different animals. Different demographic will want these coins. The BHoF has a much wider population to pull from. While the JFK coins will mostly attracted older collectors and non collectord alike and the numismatic crowd. The gold will be much more expensive than the BHoF golds also. For these same reasons if you are stating the latter point may also not be a good test on the short term staying power of the BHoFs… Imo only

  31. eddie says

    I got that straightened out. They ran it though on the 2nd and I didn’t have the money until the 3th. So hopefully it will be on the way very soon.

  32. VA Rich says

    Pitt – say’n that the numismatic buzz and short term spending will shift to JFK here in the next month or so, all other factors we’ve discussed regarding BHoF ceteris paribus. I have along term view of the BHoF and what happens over the next 90 days will be merely a blip.., one in which we may say, hmmmm…, should have bought on the that dip (present day). Who knows.., I’m gonna shut up now about these BHoFs and enjoy the ride. Hey, I decided to get a small and large 3D frame, I’ll let you know how it comes out. Think I’ll work on the ’13 ASEs first.

  33. Mk says

    @VaR- IMO I think golds are going to drop for awhile as more inventory gets released but then your going to idiots see like me, who only purchased one gold, that will want to complete their sets. That being said, I believe the ones to watch will be the ER MS70s in gold and clads as they’re the key pieces to ER full sets. Just my novice opinion.

  34. Pittsburgh P says

    Va rich sounds like a plan to fall back and enjoy the ride. I’m going to do the same thing. no one really knows how this will all shake out but I do know this has been one of the most popular coins to date…

    Glad you got the frames, they are a great display medium. The 2013 ASE look great and the small 7 inch frame. The only thing is if you put one in the center and four on the corners the one in the center doesn’t stay. I had to put the bullion on top and the four under it. Still looks great. Congrats!

  35. GoldFishin says

    @MK – Coin copper extraordinaire, not to leave you out Pitt P.

    I am also looking for an NGC ER MS70 $5 gold for a reasonable price so I will have a matching pair, but I don’t see it happening. There are currently only 2 auctions active now on the bay, one of them is an opening day and the other is a Nolan Ryan . I think the shipped has sailed on the ER unc. gold MS70, I would like to get one in the neighborhood of $1200 but it doesn’t look possible now, or ever. IF I could get one, then I would sell my sealed unc. gold and maybe wouldn’t be out more than a few hundred bucks, overall would still be making money on the purchase.

  36. GoldFishin says

    To me, this speaks volumes as to the staying power of these HOF coins. Notice this seller is promoting the fact that he spent as little money as possible to grade these coins and they are NOT Early Release and yet the prices he is receiving are very good. Only referencing the late May and June sales.

    Tells me there are a lot of uneducated buyers and/or very resilient demand for 70 graded coins. Of course, there are a few people that do like to collect brown labels only, just like I like to collect PCGS original flag labels when I purchase PCGS coins.

    http://www.ebay.com/sch/river_valley_coins/m.html?item=291146074647&hash=item43c9a88a17&pt=Coins_US_Individual&LH_Complete=1&LH_Sold=1&rt=nc

  37. says

    VaRich,
    The 3D frames that you mention: where can they be obtained? Are they strictly numismatic items or are they the double glass sided frames that can be gotten at Michael’s?

  38. Clark says

    As promised, following is how my 5 new gold BHoFs arrived today:

    Proof 1 has a 3mm gash on the shiny concave surface just to the thumb of the glove
    Proof 2 has a small nick in the same area as Proof 1
    Proof 3 looks flawless using 10x loupe
    Unc 1 has no visible flaws using 10x loupe
    Unc 2 has a highly visible blemish in the center of the ball

    So I guess 2 of 5 is ok , but not as well as the first batch of all 70s I received in April. I will keep the blemished coins rather than risk getting a refund instead of a replacement from the mint…at least that way I have the option to sell a graded 68 or 69 someday without sticking some poor fellow with an OGP coin for which he has no hope of grading at 70. I will probably keep them all.

    It’s often been wisely said here (not by me) that we are not entitled to always receive perfect coins from the mint. So with that in mind, and given the rarity of gold BHoFs I own, I’ll just have to be happy putting together a couple remarkable sets of 69s and several more ER 70s sets that I’m lucky to have and pass on to my son. I still have more gold BHoFs coming that could improve the overall collection, but that’s where the thrills stand for now.

  39. Mk says

    @Gf- lol. It’s irritating to see Ebay dirtbags take advantage of people.
    I’d be happy to just get a MS70 gold non-early release, so that I can have a compete set of 70′s. My fear though is if I buy one in OGP, it may be a 69 broken out of its case. Especially in light of the shenanigans I see on EBay, it’s a real possibility.

  40. GoldFishin says

    @MK – I will give you a little clue. It does take a little work, find sellers on Ebay that are not in the coin grading business. They are just average folks trying to make some cash on the side. If you study their sales history, you will see if they are more or less likely to know enough to scrutinize the coins properly and if they are collectors just culling out the bad coins. You will find their are a lot of sellers that you can get a good coin from. I have had very good success with OGP purchases and have received a lot of 70 grades when submitted to TPG’s.

  41. Clark says

    One more note to the body: PBGS placed the shipping labels on the “wrong” side of all 5 boxes of BHOFs I received today and those I received Monday, i.e., the side of the box without the flaps, which some here have reported is easier to tamper with. That practice, if it continues, may disappoint folks who placed separate orders to get mint sealed packages for resale. I hope this is just a continuation of my own streak of bad luck from the mint this week and not a trend.

  42. Mk says

    @Gf-Yes, there are some good folks on there…I didn’t mean to imply there aren’t any as I’ve certainly found a few over the years. I think these coins are a different beast though and sellers will be scrutinizing them a little more prior to selling. It will certainly make if harder to find that OGP 70 IMO.

  43. Natatack says

    Tho I like to buy NGC or PCGS labeled coins I don’t spend the extra bucks on ER/First Strike or signed labels. When I’m gone and the kids or wife are selling off my stuff, I doubt they will make any extra on the early labels or Mercanti labels. The dealers will go by the gray sheet unless they periodically print supplemental issues covering special labels.

  44. GoldFishin says

    @Natatack – I have thought about the “after I’m gone” scenario and have already told my son that the collection will be his and hopefully he will pass it on to his kids, but I have instructed him if he ever needs to sell it, to sell it on Ebay, if Ebay is still around or seek out a dealer that will pay what the slabbed coins are worth in the open market, of course minus the dealer premium which shouldn’t be more than 10-15% or find another dealer. I have a good friend and mentor that has been in the coin and jewelry business for 42 years. When you approach him with a slabbed coin he goes on ebay and checks current sold prices and goes into his dealer network and sees what the going price is and bases his price on those two factors. Your family should never have to sale your collection for melt prices minus 10-20% unless they are uninformed. There are honest dealers out there that will give you fair prices, but I have to admit they are few and far between. I agree with you about the labels…if one is watching closely you can see that over time the labels begin to mean less and less. Just look at these facsimile baseball player signature labels. At first, they were getting quite a bit more premium than the regular HOF labels, now the difference is almost not worth noting. I also think once you get so many differing labels out there, labels will begin to mean less and less until they will have to come up with another gimmick. But for now I do like to get the FS/ER if I can, all things being equal, but I am not hooked on them.

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