2009 US Mint Pricing Policy & Price of 2009 Ultra High Relief

asdfy

As just posted on Mint News Blog the US Mint will roll out a new pricing policy starting next week that will allow them to update prices on a weekly basis.

The notification also includes information on the pricing of the 2009 Ultra High Relief Gold Double Eagle. If the average price of gold remains between $850 - $899.99, the price for the coin will be $1,239.00.

Connecticoin

Wow, maybe those profits can be used to pay for the Green New Deal!

ebizgobro

The US Mint's new pricing policy is interesting but leaves several questions:
o Is the pricing at the time of the order or when the product is shipped?
o What about the 30 day return policy?

asdfy

<< <i>The US Mint's new pricing policy is interesting but leaves several questions:
o Is the pricing at the time of the order or when the product is shipped?
o What about the 30 day return policy? >>



Great questions. I think the answer to the first would be the time of order. My guess on the second question would be that it still does apply.

I will see if I can get some definite responses.

aficionado

In typical Mint fashion, they did a lot of work for items they are no longer going to sell.

Mark ups are kind of high.

I wonder how they will handle the 'cancel box'. Will they not let you cancel by they end of the week. If prices come out lower the Monday after you order, I think most people will cancel and re-order.
Should be interesting.

The Mint:
"Specifically, each Wednesday, the United States Mint will apply the average London Fix for platinum and gold (average of the London Fix prices covering the previous Thursday A.M. Fix through the Wednesday A.M. Fix) to the below pricing schedules. Price adjustments as a result of this process, if any, will be effective at 10 a.m. E.S.T. on the immediately following Thursday."


It's the average for the week. So, if we can bring the average price of gold under $849 for the week of Jan 15 - Jan. 21 we can get $50 off the High Relief !!!

SELL SELL SELL

PerryHall

<< <i>Mark ups are kind of high. >>



Yup. It's always that way when you are dealing with a monopoly.

08HALA20

<< <i>I wonder how they will handle the 'cancel box'. Will they not let you cancel by they end of the week. If prices come out lower the Monday after you order, I think most people will cancel and re-order.
Should be interesting. >>



This will be a nightmare for them in a down market.

Tons of cancels/returns with reorders.

The return policy may also be changing to combat this issue.

I buy a Plat today and when I receive it I don't like it and return it for a replacement. In the meantime Plat goes up $100 so now I get charged the new price.

This will make for an interesting year and discussion here.

Joe

derryb

Logic would require that the your order price is the price you agreed to and that they would not change it on you. But then again we're dealing with a government agency, federal none the less.

cool website. is the blogger Michael Zielinski a member here?

ambro51

According to the guest on CNBC this morning...who had predicted most of the 2008 events...he said gold was going to 1200.

Has the mint announced the day and time they will go on sale?

I'd be buying this coin the day it comes out.

Placid

Why are fractional coins listed I thought they were done with them

ClosedLoop

this can turn into a big fiasco for the mint.

OneCent

$1,239.00....I'm out.

jessewvu

$1200 and some change and you're out? This is a monsterly (new word?) awesome coin.

The pricing structure below suggests that the US Mint will continue production of fractional coins...

derryb

<< <i>Why are fractional coins listed I thought they were done with them >>



Two different departments - not talking to each other. like i said earlier "we're dealing with a government agency, federal none the less."

coinkid855

I probably don't have the cash to spare, but I'm buying one anyway. It's simply an AWESOME coin, plain and simple, and I HAVE to have one.



-Paul

garsmith

at 1200+ they are gonna be getting a lot of returns (basically everyone that doesn't get what they think will grade out at 70)

Bochiman

<< <i>$1200 and some change and you're out? This is a monsterly (new word?) awesome coin.

The pricing structure below suggests that the US Mint will continue production of fractional coins...

>>



Supposed to be "minted to demand" through 2009. Not exactly a quick flip that way.

HalfStrike

Just from a glance at this it looks like they will be asking about $300 over spot gold for an eagle gold ounce coin and almost $400 per ounce over spot on high relief.

Currently the mint price is down to about $150 to $175 per ounce gold so prices will be higher over spot than in the past.

I think this translates into lower sales but products will always be available as prices can change without them losing sales days like in the past.

My guess though is that may not overcome the much higher price over spot and sales will be less than expected, especially if gold and platinum prices continue higher.

PS It will be interesting to see how this new structure works but I am not sure it will improve sales is my point, only time will tell.

jmski52

In typical Mint fashion, they did a lot of work for items they are no longer going to sell.

Exactly! I mean, with all of the (obsoleted) fractionals and sold-out items in this list, how do we know that this document is even current? Obviously, it's not current.

CaptHenway

<< <i>Just from a glance at this it looks like they will be asking about $300 over spot gold for an eagle gold ounce coin and almost $400 per ounce over spot on high relief.

Currently the mint price is down to about $150 to $175 per ounce gold so prices will be higher over spot than in the past.

I think this translates into lower sales but products will always be available as prices can change without them losing sales days like in the past.

My guess though is that may not overcome the much higher price over spot and sales will be less than expected, especially if gold and platinum prices continue higher.

PS It will be interesting to see how this new structure works but I am not sure it will improve sales is my point, only time will tell. >>



Those are obscene markups.
MOO
TD

groht5

I am on for ONE and only ONE just to look at. I wonder how PCGS will develope the slab for these? Will we be able to see the coin edge? Will NGC be the better way to go if PCGS does not change their slab?

Bochiman

<< <i>

<< <i>Just from a glance at this it looks like they will be asking about $300 over spot gold for an eagle gold ounce coin and almost $400 per ounce over spot on high relief.

Currently the mint price is down to about $150 to $175 per ounce gold so prices will be higher over spot than in the past.

I think this translates into lower sales but products will always be available as prices can change without them losing sales days like in the past.

My guess though is that may not overcome the much higher price over spot and sales will be less than expected, especially if gold and platinum prices continue higher.

PS It will be interesting to see how this new structure works but I am not sure it will improve sales is my point, only time will tell. >>



Those are obscene markups.
MOO
TD >>



I agree....sad thing is that people pay them
Reminds me of salaries for movie stars and sports "heroes". Obscene. But, people pay the jacked up prices to attend the shows and they get their salaries.
I've actually stopped going to movies much (I'll wait for it to hit DVD and the whole family can watch for $10-$20 (if we purchase it...cheaper to rent of course)) and stopped going to sporting events (don't have to worry about parking, traffic, etc).

Sure, I like both the above, but I so disagree with the money aspect that I hold out.

Same for a lot of the coin market in things like this. Maybe I will buy one but maybe I won't as it is obscene, minted to order, and throughout the year.

Imagine if gold goes up to $1200 soon, like some predict, then someone buys these....stays there for a month or so. Past the return period. Then, it craters like it did in 2008 to sub $800. Still an obscene profit, but someone just paid 50%+ over what someone else will be paying (kind of like the plat game was last year).

jmski52

The Mint's pricing on these might have reached the point of "marginal utility". It just might happen that collectors will need that extra $400 for something else. I'm ambivalent because I like the coin, the concept, the appearance, etc.

I wonder when the Mint will take collector budgets into account, instead of just taking collector budgets?

asdfy

In response to a couple questions-



<< <i>cool website. is the blogger Michael Zielinski a member here? >>



Thanks! Yes, I am a member here as "asdfy" and try to drop in from time to time.



<< <i>Why are fractional coins listed I thought they were done with them >>



The US Mint has had this new pricing methodology in the works since at least November, maybe much earlier. They probably thought 2008 fractionals would still be on sale when it went into effect.

Placid

As fast as the price of gold is falling it will be under $1000 by the release date.

RBinTex

Any word on a maximum mintage?

OPA

<< <i>As fast as the price of gold is falling it will be under $1000 by the release date.

>>



I'm keeping my "fingers crossed."

66Tbird

Hard to believe it cost even half that premium to make that coin. Its a bad joke and a bad dream imo. My monies are going back to the classics.

mbogoman

Minted to demand - that means, NO MAXIMUM LIMIT, although I suppose they could be limited by the number of available planchets...

HalfStrike

As far as I remember there never was an official press release from the mint stating they are ending any coin series such as the buffalo fractionals. Now we see this new pricing format and it includes those coins as well as gold w unc coins and platinum fractionals.

I hope the mint didn't mean they were thinking of ending those products and will come back with them for 2009. From the postings on this board and other sites it seems many have already accepted that those are ended series yet there never was an official announcement as far as I remember.

pf70collector

I thought they were no planchets from Perth to produce these yet? Any feedback. And if the shortage lasts for a couple months this may effect the mintage even if minted to demand. I am in for just one anyway.