Based on the available data, it is likely that prices for the United States Mint’s numismatic gold and platinum products will be increased tomorrow. This will be the third increase for gold and the second increase for platinum since prices bottomed late last year.
The US Mint determines prices for gold and platinum numismatic products based on the average weekly prices of the metals. This 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.
From the available data, the average weekly price of gold will likely fall into the $1,300 to $1,349.99 range. This is one tier higher than the range currently use to establish prices.
In the most likely scenario, if the Wednesday PM price of gold is above $1,300, then a one tier price increase would take place. The prices for gold products would be increased by the equivalent of $50 per ounce of gold content. Impacted products include the 2013 First Spouse Gold Coins.
The average weekly price of platinum will likely fall into the $1,400 to $1,449.99 range. Once again, this is one tier higher than the range currently used to establish prices.
If the Wednesday PM price of platinum is above $1,400, then a one tier increase would take place. The price of the one ounce 2013 Proof Platinum Eagle would be increased by $50.
Special Promotion Revealed
As mentioned yesterday, the United States Mint’s home page has promised a special promotion coming on February 20. A bit of investigation had surfaced the clue that the promotion had something to do with a “bag.”
I made a few guesses that perhaps it would be for a grab bag of coins at a lower price or bags of the surplus 2013 Kennedy Half Dollars. It turns out that the promotion is not for a bag of coins, but literally just a bag.
Beginning February 20th, customers will receive a free reusable bag with a purchase of $75 or more.
Recently, the US Mint has been experimenting with different sales promotions, which has been a welcome development. Previous promotions for free shipping and a 10% discount on subscription orders have probably made more of an impact on collectors than the upcoming free bag offer.