@cagcrisp said:
A Gold Grid price change is one thing.
A weekly price adjustment is something else.
A Gold Grid price change is permanently Upwards.
A weekly price adjustment can be Up or Down…
So, even if the price of gold fell drastically, the grid price on these would not change?
@cagcrisp said:
A Gold Grid price change is one thing.
A weekly price adjustment is something else.
A Gold Grid price change is permanently Upwards.
A weekly price adjustment can be Up or Down…
So, even if the price of gold fell drastically, the grid price on these would not change?
The entire Gold Grid was adjusted Upward two weeks ago. The premium to LBMA Gold fixes will not decline. Weekly the grid changes prices based on LBMA Gold fix. The LBMA Gold fix changes +/- daily. Weekly the Mint changes pricing on Wednesday afternoon +/- depending on the daily fixes…
Currently the 2021 Gold Buffalo Proof sells for $2,790.00
That’s based on LBMA Gold of $1,850.00-$1,899.99
Premium for the Gold Buffalo to LBMA Gold of $1,850.00 is $920.00
That premium will Not go down.
IF next week the daily LBMA fixes are Under $1,850.00 then the Mint will drop the 2021 Gold Buffalo to $2,740.00
IF next week the daily LBMA fixes are Over $1,899.99 then the Mint will increase the 2021 Gold Buffalo Proof to $2,840.00…
I'm done asking questions and trying to understand Mint pricing...
I'll just stick to prices and the price increase (or potential decrease) of these 2021 AE Gold Proofs.
It can be confusing at first. Hopefully, this will help.
The current 'grid', or 'pricing range table', can be found here.
The row used to set the price at release is determined by the "average price per ounce" (i.e., the left-hand column). For example, 21EL was released on 5.13.21 at $2,740.00. This means that the "average price per ounce" at release was between $1,800.00 and $1,849.99.
To find this on the 'grid', locate the "American Buffalo 24K Gold Proof" column. Scroll down this column until you see $2,740.00. This price is in the row that corresponds to an "average price per ounce" of "$1,800.00 to $1,849.99".
However, as you pointed out, the price of the underlying PMs can change after release, either up or down. So, the Mint re-visits the 'grid', and the resultant pricing, on a weekly basis.
The 'rules' for changing the 'price/row', can be found here. At this point, the details are not important. Just know that the Mint employs a systematic approach.
Continuing with the 21EL example, the price increased today from $2,740.00 to $2,790.00. This increase was 'triggered' by the Mint's weekly 'grid' review. This means that, per the 'rules', the applicable "average price per ounce" changed. The new row is "$1,850.00 to $1,899.99".
It can be confusing at first. Hopefully, this will help.
The current 'grid', or 'pricing range table', can be found here.
The row used to set the price at release is determined by the "average price per ounce" (i.e., the left-hand column). For example, 21EL was released on 5.13.21 at $2,740.00. This means that the "average price per ounce" at release was between $1,800.00 and $1,849.99.
To find this on the 'grid', locate the "American Buffalo 24K Gold Proof" column. Scroll down this column until you see $2,740.00. This price is in the row that corresponds to an "average price per ounce" of "$1,800.00 to $1,849.99".
However, as you pointed out, the price of the underlying PMs can change after release, either up or down. So, the Mint re-visits the 'grid', and the resultant pricing, on a weekly basis.
The 'rules' for changing the 'price/row', can be found here. At this point, the details are not important. Just know that the Mint employs a systematic approach.
Continuing with the 21EL example, the price increased today from $2,740.00 to $2,790.00. This increase was 'triggered' by the Mint's weekly 'grid' review. This means that, per the 'rules', the applicable "average price per ounce" changed. The new row is "$1,850.00 to $1,899.99".
Thank you for detailing a specific example in your explanation that even someone boneheaded like me could understand.
I'm a visual learner, so using the 2021 Gold Buffalo weblink example and its corresponding updated price made perfect sense when you put it all together. When I first opened up "the grid", I was like...this is one of those crazy, busy, spreadsheets...but you spelled it out for me and I was able to follow along.
@Goldminers said:
Here is mine. Another nice photo but the assigned grade a disappointment. Not seeing the real problem with the coin, as sometimes, it happens.
Am I to understand that you pay for grading but yet they don't justify the reason for the grading provided?
In other words, they don't tell you why something gets a lower grading than a 70?
@MsMorrisine said:
They’ve run through over 30,000,000 items
They can’t detail a grade for them
Could one pay extra for details?
Seems like they have lots of "a la carte" service options that once can pay extra for?
IRL, when I pay for a home inspector to inspect a home or an appraiser for a value on a home that I am interested in purchasing, I receive a very detailed report. Further the home inspector can be legally liable for any glaring mistakes or omissions they make on their detailed report.
@Goldminers said:
Here is mine. Another nice photo but the assigned grade a disappointment. Not seeing the real problem with the coin, as sometimes, it happens.
Am I to understand that you pay for grading but yet they don't justify the reason for the grading provided?
In other words, they don't tell you why something gets a lower grading than a 70?
Exactly. It would take all of 30 seconds to jot down a note about why this wasn’t a 70.
Yesterday I cancelled backorders for five 4-coin gold sets. Good luck to anyone still trying to snag one. Curious how long until they pop up at 7:30am...
Successful BSTs with adriana, barrytrot, Bochiman, Dabigkahuna, Modern Coin Mart, oilstates2003, terburn88, THEGENERAL
@Jzyskowski1 said:
****1oz gold up. High relief. 4-coin no. Haven’t seen it up in awhile
Oh, I thought you were speaking of the Type 2 proof gold AGE's.
Really no interest in the high relief bronco coin....missed the post to that coin in this thread.
While ridiculously overpriced, I personally preferred the Bronco in 24K to the type 2 AGE.
Incidentally the West Point American Liberty 2021 High Relief Gold Coin (Broncos) with 12,500 mintage is currently being shown as on Back order. Perhaps the flippers are rteturning it back because of lack of interest in secondary market because of the already 1000$ mark up of the mint as it is.
Comments
As mentioned…
A weekly price adjustment can be Up or Down…
The entire Gold Grid was adjusted Upward two weeks ago. The premium to LBMA Gold fixes will not decline. Weekly the grid changes prices based on LBMA Gold fix. The LBMA Gold fix changes +/- daily. Weekly the Mint changes pricing on Wednesday afternoon +/- depending on the daily fixes…
Currently the 2021 Gold Buffalo Proof sells for $2,790.00
That’s based on LBMA Gold of $1,850.00-$1,899.99
Premium for the Gold Buffalo to LBMA Gold of $1,850.00 is $920.00
That premium will Not go down.
IF next week the daily LBMA fixes are Under $1,850.00 then the Mint will drop the 2021 Gold Buffalo to $2,740.00
IF next week the daily LBMA fixes are Over $1,899.99 then the Mint will increase the 2021 Gold Buffalo Proof to $2,840.00…
Got it...(I think)!
I'm done asking questions and trying to understand Mint pricing...
I'll just stick to prices and the price increase (or potential decrease) of these 2021 AE Gold Proofs.
BST references available on request
Go on the mint web site and search for the pricing grid
Read it and you’ll understand
$2800 for the Gold Buff Proof!!
Once again, glad I got enuf.
It can be confusing at first. Hopefully, this will help.
The current 'grid', or 'pricing range table', can be found here.
The row used to set the price at release is determined by the "average price per ounce" (i.e., the left-hand column). For example, 21EL was released on 5.13.21 at $2,740.00. This means that the "average price per ounce" at release was between $1,800.00 and $1,849.99.
To find this on the 'grid', locate the "American Buffalo 24K Gold Proof" column. Scroll down this column until you see $2,740.00. This price is in the row that corresponds to an "average price per ounce" of "$1,800.00 to $1,849.99".
However, as you pointed out, the price of the underlying PMs can change after release, either up or down. So, the Mint re-visits the 'grid', and the resultant pricing, on a weekly basis.
The 'rules' for changing the 'price/row', can be found here. At this point, the details are not important. Just know that the Mint employs a systematic approach.
Continuing with the 21EL example, the price increased today from $2,740.00 to $2,790.00. This increase was 'triggered' by the Mint's weekly 'grid' review. This means that, per the 'rules', the applicable "average price per ounce" changed. The new row is "$1,850.00 to $1,899.99".
Thank you for detailing a specific example in your explanation that even someone boneheaded like me could understand.
I'm a visual learner, so using the 2021 Gold Buffalo weblink example and its corresponding updated price made perfect sense when you put it all together. When I first opened up "the grid", I was like...this is one of those crazy, busy, spreadsheets...but you spelled it out for me and I was able to follow along.
Thanks-again!
BST references available on request
The mint finally posted the High Resolution images of the new reverse.
https://www.usmint.gov/news/image-library/american-eagle-gold-proof-coins#2021onenew
I’m loading up on the 1/10th ounce ones!
They’re as big as the 1 ounce!
Getting a little bit old, and scruffy. These days are tough for eagles, too
My US Mint Commemorative Medal Set
hmmm
side-by-side one looks like a chicken
Damn, I'm seeing that. And this is the start of the type 2 reverse that everyone is fighting for?
At least the silver proof reverse looks like an eagle.
Golden eagles are simply stunning. A large female can have a wingspan over 8 feet..
My US Mint Commemorative Medal Set
And I repeat, do NOT sell your 69's....at least for now.
And this example is First Day of Issue.
There are several other examples of 69's getting clobbered at GC.
Mint cost was around $2,400.
https://www.greatcollections.com/Coin/997926/2021-W-50-One-Ounce-Gold-American-Eagle-Type-1-First-Day-of-Issue-PCGS-Proof-69-DCAM
I still have several 4-coin type 2 gold sets on backorder. Anyone else?
That's an awfully long time on backorder.
I got mine graded with PCGS and they are all PR70DCAM's.
I've had them in hand now for almost two weeks.
BTW, do sequential certification numbers on this four coin set add any value to the set?
I noticed that many of the 70 graded 4 coin sets are a mix of certification numbers when put up for sale or auction.
https://images.pcgs.com/trueview/43165716
That is a great result to get 4 70's and a great TrueView.
My US Mint Commemorative Medal Set
Thanks and a bit of luck, but thanks goes to Phil Arnold and his team at PCGS photography.
Good for you GB! That is a beautiful set and I imagine one that you will hold onto and cherish for a very long time.
Thanks Miles, it is a beautiful set indeed.
For now, it is in my safe that I can open when I need a good smile!!
Max rez
Here is mine. Another nice photo but the assigned grade a disappointment. Not seeing the real problem with the coin, as sometimes, it happens.
My US Mint Commemorative Medal Set
Am I to understand that you pay for grading but yet they don't justify the reason for the grading provided?
In other words, they don't tell you why something gets a lower grading than a 70?
BST references available on request
They’ve run through over 30,000,000 items
They can’t detail a grade for them
Could one pay extra for details?
Seems like they have lots of "a la carte" service options that once can pay extra for?
IRL, when I pay for a home inspector to inspect a home or an appraiser for a value on a home that I am interested in purchasing, I receive a very detailed report. Further the home inspector can be legally liable for any glaring mistakes or omissions they make on their detailed report.
BST references available on request
Exactly. It would take all of 30 seconds to jot down a note about why this wasn’t a 70.
Great Collections last night.
2021-W $5, $10, $25 and $50 Gold American Eagle Type 2 Set First Day of Issue PCGS Proof-70 (4 Coins)
Winning Bid: $6,749....$7,592.62 with BF.
https://www.greatcollections.com/Coin/1050772/2021-W-5-10-25-and-50-Gold-American-Eagle-Type-2-Set-First-Day-of-Issue-PCGS-Proof-70-4-Coins
Yesterday I cancelled backorders for five 4-coin gold sets. Good luck to anyone still trying to snag one. Curious how long until they pop up at 7:30am...
Here my max res photos
Very nice indeed.
beautiful coins !!!!!
Available for backorder
🎶 shout shout, let it all out 🎶
This morning?
Yes sir 15 minutes more or less
🎶 shout shout, let it all out 🎶
Still available for Backorder…
Reject bin?
6:00 pm eastern and they are still up
🎶 shout shout, let it all out 🎶
Prolly the five sets I cancelled....
I'm just seeing unavailable. Is the 4 coin set available?
****1oz gold up. High relief. 4-coin no. Haven’t seen it up in awhile
🎶 shout shout, let it all out 🎶
Oh, I thought you were speaking of the Type 2 proof gold AGE's.
Really no interest in the high relief bronco coin....missed the post to that coin in this thread.
High relief bronco has been available all day for many days.
This thread is for the AGE Proofs
While ridiculously overpriced, I personally preferred the Bronco in 24K to the type 2 AGE.
Incidentally the West Point American Liberty 2021 High Relief Gold Coin (Broncos) with 12,500 mintage is currently being shown as on Back order. Perhaps the flippers are rteturning it back because of lack of interest in secondary market because of the already 1000$ mark up of the mint as it is.
https://www.pcgs.com/setregistry/u-s-coins/quarters/PCGS-2020-quarter-quest/album/247091