well, today I learned something that makes a big difference in the way the Mint prices their precious metal coins.
They stopped using the AM (10:30 London time) price for the average, and now use the PM (15:00 London time) close price.
Why this is different is because when they used the AM London price to compute the average, it allowed them (if needed) to change the price fairly early in the day here, due to the time change between London and USA.
By using the London close (15:00) that is 10:00 Eastern here, so prices won't change until after that time.
This typically doesn't matter, unless what happens is what we had this week:
AM average = $1200.61 PM average = $1193.07
so the Gold price DID go down this week:
Gold avg: $1193.07; Criteria #2 (change); AGE (proof) $1510
been a while (nice long vacation for me!), but not much movement, until this week:
starting 07/22/15, Mint price for Gold & Platinum both going down
week ending....Gold Avg......Platinum Avg July 1...............$1171.63......$1078.00 July 8...............$1162.79......$1054.80 July 15.............$1156.47......$1027.20 (Mint Platinum down $50/oz) July 22.............$1115.20......$991.50 (Mint gold & platinum both down $50/oz)
Gold : AGE (proof) $1460
Platinum : APE (proof) $1350 (2014 coin out of Stock; 2015 coin release date TBD)
One thing to note: The LPPM web site no longer lists the same day Platinum London close price, so I'm not sure how the US Mint is determining the average price for the past week. If anybody knows where they are getting their "official" same day close price, please respond.
starting 08/26/15, Gold and Platinum remains the same this week
7 days ending 08/26/15
Gold avg: $1145.79 (up$27.51 from the previous week); Criteria #1 (no change); AGE (proof) $1460
Platinum avg: $999.60 (up $8.20); Criteria #1 (no change); APE (proof) $1350 (2014 coin out of Stock; 2015 coin release date TBD)
----------- edited - Platinum Wed PM close was $973, so the average was $999.60, and thus no change (although it's irrelevant, since they are not on sale)
Comments
starting 05/13/15, Mint price for Gold & Platinum remains the same this week
7 days ending 05/13/15
Gold avg: $1186.09 (down $4.40 from the previous week); Criteria #1 (no change); AGE (proof) $1510
Platinum avg: $1134.20 (down $10.55); Criteria #1 (no change); APE (proof) $1500 (2014 coin out of Stock; 2015 coin release date TBD)
7 days ending 05/20/15
Gold avg: $1217.12 (up $31.03 from the previous week); Criteria #2 (change); AGE (proof) $1560
Platinum avg: $1157.20 (up $23.00); Criteria #1 (change); APE (proof) $1550 (2014 coin out of Stock; 2015 coin release date TBD)
7 days ending 05/27/15
Gold avg: $1200.61 (down $16.51 from the previous week); Criteria #4 (no change); AGE (proof) $1560
Platinum avg: $1144.50 (down $12.70); Criteria #1 (change); APE (proof) $1500 (2014 coin out of Stock; 2015 coin release date TBD)
They stopped using the AM (10:30 London time) price for the average, and now use the PM (15:00 London time) close price.
Why this is different is because when they used the AM London price to compute the average, it allowed them (if needed) to change the price fairly early in the day here, due to the time change between London and USA.
By using the London close (15:00) that is 10:00 Eastern here, so prices won't change until after that time.
This typically doesn't matter, unless what happens is what we had this week:
AM average = $1200.61
PM average = $1193.07
so the Gold price DID go down this week:
Gold avg: $1193.07; Criteria #2 (change); AGE (proof) $1510
7 days ending 06/03/15
Gold avg: $1191.82 (down $1.25 from the previous week avg PM close [$1193.07]); Criteria #2 (no change); AGE (proof) $1510
Platinum avg: $1110.60 (down $33.90); Criteria #2 (no change); APE (proof) $1500 (2014 coin out of Stock; 2015 coin release date TBD)
7 days ending 06/10/15
Gold avg: $1175.86 (down $15.96 from the previous week avg); Criteria #2 (no change); AGE (proof) $1510
Platinum avg: $1103.20 (down $7.40); Criteria #2 (no change); APE (proof) $1500 (2014 coin out of Stock; 2015 coin release date TBD)
7 days ending 06/17/15
Gold avg: $1179.69 (up $3.83 from the previous week avg); Criteria #2 (no change); AGE (proof) $1510
Platinum avg: $1087.40 (down $15.80); Criteria #1 (change); APE (proof) $1450 (2014 coin out of Stock; 2015 coin release date TBD)
7 days ending 06/24/15
Gold avg: $1188.59 (up $8.81 from the previous week avg); Criteria #2 (no change); AGE (proof) $1510
Platinum avg: $1073.80 (down $13.60); Criteria #2 (no change); APE (proof) $1450 (2014 coin out of Stock; 2015 coin release date TBD)
starting 07/22/15, Mint price for Gold & Platinum both going down
week ending....Gold Avg......Platinum Avg
July 1...............$1171.63......$1078.00
July 8...............$1162.79......$1054.80
July 15.............$1156.47......$1027.20 (Mint Platinum down $50/oz)
July 22.............$1115.20......$991.50 (Mint gold & platinum both down $50/oz)
Gold : AGE (proof) $1460
Platinum : APE (proof) $1350 (2014 coin out of Stock; 2015 coin release date TBD)
One thing to note: The LPPM web site no longer lists the same day Platinum London close price, so I'm not sure how the US Mint is determining the average price for the past week. If anybody knows where they are getting their "official" same day close price, please respond.
here is where I get my data: LPPM
My Adolph A. Weinman signature
7 days ending 07/29/15
Gold avg: $1092.93 (down $22.27 from the previous week); Criteria #2 (change); AGE (proof) $1410
Platinum avg: $980.20 (down $5.80); Criteria #1 (no change); APE (proof) $1350 (2014 coin out of Stock; 2015 coin release date TBD)
---
updated to reflect actual platinum average (always 1 day late due to LPPM delayed data)
7 days ending 08/05/15
Gold avg: $1090.71 (down $2.22 from the previous week); Criteria #1 (no change); AGE (proof) $1410
Platinum avg: $968.00 (down $12.20); Criteria #1 (no change); APE (proof) $1350 (2014 coin out of Stock; 2015 coin release date TBD)
7 days ending 08/12/15
Gold avg: $1101.50 (up$10.79 from the previous week); Criteria #2 (change); AGE (proof) $1460
Platinum avg: $967.60 (down $0.40); Criteria #1 (no change); APE (proof) $1350 (2014 coin out of Stock; 2015 coin release date TBD)
--- edited to reflect actual Platinum average using data for 8/12/15
My Adolph A. Weinman signature
7 days ending 08/19/15
Gold avg: $1118.28 (up$16.78 from the previous week); Criteria #1 (no change); AGE (proof) $1460
Platinum avg: $991.40 (up $23.80); Criteria #1 (no change); APE (proof) $1350 (2014 coin out of Stock; 2015 coin release date TBD)
7 days ending 08/26/15
Gold avg: $1145.79 (up$27.51 from the previous week); Criteria #1 (no change); AGE (proof) $1460
Platinum avg: $999.60 (up $8.20); Criteria #1 (no change); APE (proof) $1350 (2014 coin out of Stock; 2015 coin release date TBD)
-----------
edited - Platinum Wed PM close was $973, so the average was $999.60, and thus no change (although it's irrelevant, since they are not on sale)
7 days ending 09/02/15
Gold avg: $1133.51 (down $12.28 from the previous week); Criteria #1 (no change); AGE (proof) $1460
Platinum avg: $1001.25 (up $1.65); Criteria #2 (change); APE (proof) $1400 (2014 coin out of Stock; 2015 coin release date TBD)
7 days ending 09/09/15
Gold avg: $1119.35 (down $14.16 from the previous week); Criteria #1 (no change); AGE (proof) $1460
Platinum avg: $993.8 (down $7.45); Criteria #2 (change); APE (proof) $1350 (2014 coin out of Stock; 2015 coin release date TBD)
7 days ending 09/16/15
Gold avg: $1107.62 (down $11.73 from the previous week); Criteria #1 (no change); AGE (proof) $1460
Platinum avg: $966.60 (down $27.20); Criteria #1 (no change); APE (proof) $1350 (2014 coin out of Stock; 2015 coin release date TBD)
7 days ending 09/24/15
Gold avg: $1129.30 (up $21.68 from the previous week); Criteria #1 (no change); AGE (proof) $1460
Platinum avg: $960.60 (down $6.00); Criteria #1 (no change); APE (proof) $1350 (2014 coin out of Stock; 2015 coin release date is Dec 2015)
7 days ending 09/29/15
Gold avg: $1135.66 (up $6.36 from the previous week); Criteria #1 (no change); AGE (proof) $1460
Platinum avg: $924.20 (down $36.40); Criteria #2 (change); APE (proof) $1300 (2014 coin out of Stock; 2015 coin release date is Dec 2015)
7 days ending 10/7/15
Gold avg: $1138.32 (up $2.66 from the previous week); Criteria #1 (no change); AGE (proof) $1460
Platinum avg: $922.30 (down $1.90); Criteria #1 (no change); APE (proof) $1300 (2014 coin out of Stock; 2015 coin release date is Dec 2015)
7 days ending 10/14/15
Gold avg: $1159.11 (up $20.79 from the previous week); Criteria #2 (change); AGE (proof) $1510
Platinum avg: $975.60 (up $53.30); Criteria #2 (change); APE (proof) $1350 (2014 coin out of Stock; 2015 coin release date is Dec 2015)
7 days ending 10/21/15
Gold avg: $1176.95 (up $17.94 from the previous week); Criteria #1 (no change); AGE (proof) $1510
Platinum avg: $1005.80 (up $30.20); Criteria #2 (change); APE (proof) $1400 (2014 coin out of Stock; 2015 coin release date is Dec 2015)
7 days ending 10/28/15
Gold avg: $1167.99 (down $8.96 from the previous week); Criteria #1 (no change); AGE (proof) $1510
Platinum avg: $998.60 (down $7.20); Criteria #2 (change); APE (proof) $1400 (2014 coin out of Stock; 2015 coin release date is Dec 2015)
7 days ending 11/04/15
Gold avg: $1132.55 (down $35.44 from the previous week); Criteria #2 (change); AGE (proof) $1460
Platinum avg: approx $977.00 (down $21.60); Criteria #1 (no change); APE (proof) $1350 (2014 coin out of Stock; 2015 coin release date is Dec 2015)
7 days ending 11/11/15
Gold avg: $1091.56 (down $40.99 from the previous week); Criteria #2 (change); AGE (proof) $1410
Platinum avg: $920.60 (down $56.40); Criteria #2 (change); APE (proof) $1300 (2014 coin out of Stock; 2015 coin release date is TBD)
7 days ending 11/11/15
Gold avg: $1080.12 (down $11.44 from the previous week); Criteria #1 (no change); AGE (proof) $1410
Platinum avg: $862.60 (down $58.00); Criteria #2 (change); APE (proof) $1250 (2014 coin out of Stock; 2015 coin release date is TBD)
starting 11/25/15, Platinum down $50/oz this week, Gold remains the same.
7 days ending 11/25/15
Gold avg: $1075.85 (down $4.27 from the previous week); Criteria #1 (no change); AGE (proof) $1410
Platinum avg: $845.40 (down $17.20); Criteria #2 (change); APE (proof) $1200 (2014 coin out of Stock; 2015 coin release date is Dec 3, 2015)
7 days ending 12/02/15
Gold avg: $1062.14 (down $13.71 from the previous week); Criteria #1 (no change); AGE (proof) $1410
Platinum avg: $837.00 (down $8.40); Criteria #1 (no change); APE (proof) $1200 (2014 coin out of Stock; 2015 coin release date is Dec 3, 2015)
7 days ending 12/09/15
Gold avg: $1072.72 (up $10.58 from the previous week); Criteria #1 (no change); AGE (proof) $1410
Platinum avg: $857.80 (up$20.80); Criteria #2 (change); APE (proof) $1250
7 days ending 12/16/15
Gold avg: $1069.70 (down $3.02 from the previous week); Criteria #1 (no change); AGE (proof) $1410
Platinum avg: $855.00 (down $2.80); Criteria #1 (no change); APE (proof) $1250