Mint price reduction ?

WDH

Will the mint be lowering its prices today for gold and platinum issues?

Unknown

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TomB

<< <i>why would they if the most likely bought their raw materials at the recently high prices...prices for gold just recently dropped..a bit too recently imho. >>



They would or might reprice because the US Mint has a system in place where they reprice these issues every week (up or down, as needed) based upon weekly spot price averages and trends.

jmski52

Pricing for precious metal numismatic products (platinum, 24-k and 22-k gold) varies by the average cost of the underlying metal. For these products, the United States Mint establishes tables that determine the price using ranges that are based on the average cost of the metal for the week prior to sale. If the average weekly price of the precious metal moves up or down into another cost range, the price of the product will also go up or down, respectively, by a fixed amount.

You can expect Mint pricing to drop this week, and probably next week as well. They figure their fixed prices on the weekly average of the London spot close.

robkool

With gold taking a hit today... I wouldn't be surprised.

pf70collector

Platinum looks good to buy.

GBurger717

They dropped it. Last night I purchase the MOH at 512.00 and today its 497.85 so I cancelled yesterdays order and put a new one in today

Classof67

<< <i>They dropped it. Last night I purchase the MOH at 512.00 and today its 497.85 so I cancelled yesterdays order and put a new one in today >>



I did the same thing!

19Lyds

Wow. Silver is just about where it was at 1 year ago today.

Commodities.

derryb

Prices for gold/platinum eagles, buffalos and spouses are based on spot price weekly average using linked chart. Prices normally get changed on Thursday morning for these items. Gold commemoratives are not priced based on the mint pricing matrix and are changed whenever the mint sees fit to do so.

Mint pricing matrix