US Mint - Gold Unavailable - Being Repriced...

ianrussell · September 2, 2011 1:58AM

The Mint acted very quickly with the increase in gold this morning. Everything is taken down, awaiting repricing on Wednesday.

- Ian

revoldlog · September 2, 2011 2:09AM

I ordered Hayes FS and uncirculated GAE this morning.
I was thinking the Mint might pull them next Tue morning, but I pulled the trigger anyway.
I am glad I did.

fivecents · September 2, 2011 2:18AM

Thanks for the heads up.

kimber45ACP · September 2, 2011 2:48AM

Shouldn't it be an automatic repricing utility so they don't have to keep
pulling them down and then putting them back on sale?

goldbuffalo · September 2, 2011 3:14AM

<< Shouldn't it be an automatic repricing utility so they don't have to keep
pulling them down and then putting them back on sale? >>

they reprice every week, on Wed.

guess that's not working for them,

the next step is to go to a daily, if not second by second like some of the bullion dealers do.

I have to say, after last weeks spike, they did keep the price the same, 1750 -1800 range, but it must have been close, so I guess we had our chances...

coasterfan · September 2, 2011 3:59AM

How can they pull the First Spouses already? I thought the Mint could do this only if the items they sell approach the price of their bullion versions. Since First Spouse don't have a bullion version, that test doesn't apply.

Coinsponge · September 2, 2011 4:11AM

<< How can they pull the First Spouses already? I thought the Mint could do this only if the items they sell approach the price of their bullion versions. Since First Spouse don't have a bullion version, that test doesn't apply. >>

If it is on the price grid then it is pullable.

Bullsitter · September 2, 2011 5:47AM

$5 Army and MoH still on sale, aren't they on the grid?

OPA · September 2, 2011 5:49AM

MOH & Army Gold still available at previous price..but for how long? Mint forgot them

jmski52 · September 2, 2011 5:52AM

MOH & Army Gold still available at previous price..but for how long? Mint forgot them

I guess I shouldn't laugh. My company has implemented a back office system that is just horrendous and is making everyone's lives miserable. I can only imagine what kind of dysfunctional computer system that the Mint must have.

notwilight · September 2, 2011 5:53AM

<< How can they pull the First Spouses already? I thought the Mint could do this only if the items they sell approach the price of their bullion versions. Since First Spouse don't have a bullion version, that test doesn't apply. >>

Sounds like you asked someone in a bar after a few drinks how repricing works and they made up something that sounds good. --jerry

goldbuffalo · September 2, 2011 7:04AM

current price of comm. gold proof is $534.

Eagle Gold proof, not available at $528.

So, will the Mint be working the holiday or will these be dark all weekend? Kind of bad timing, if you're going to increase the price, just do it and move on. How many people might have looked to buy from the Mint this week end and will find they are not selling anything. These people, I'll tell ya.

MsMorrisine · September 2, 2011 7:13AM

Not likely the Army nor MOH commem gold will go dark anytime soon:

at current pricing (p534.30, u524.30):

Melt - $5 Proof - $2209.01 (price of gold so that the value of the ~.24 oz of gold equals the purchase price)
Melt - $5 Unc. - $2167.66

gold content: 0.241873282 troy ounces.

MsMorrisine · September 2, 2011 7:23AM

I was going to cancel my online orders today and go buy them from the mint this evening.

glad that they took my cancel boxes away this morning. otherwise, I'd be looking at no product purchased. I would likely have cancelled without checking to see if they were still available at the store. very lucky.

(When they are removed online, they are removed in the mint stores, too.)

goldbuffalo · September 2, 2011 11:39AM

<< Not likely the Army nor MOH commem gold will go dark anytime soon:

at current pricing (p534.30, u524.30):

Melt - $5 Proof - $2209.01 (price of gold so that the value of the ~.24 oz of gold equals the purchase price)
Melt - $5 Unc. - $2167.66

gold content: 0.241873282 troy ounces. >>

but doesn't the eagle 1/4 have the same amount of gold? and it's dark..

Per the pricing grid the 1/4 eagle with gold between 1850 and 1900 is $553. of course this is no reason to run out and buy the comm., there's other ways to play gold, but if some one was looking to buy already....

MsMorrisine · September 2, 2011 12:14PM

good point.

the proof AGE 1/4th ounce was priced at onlky $528.00 = $2112/oz.

the 1/10th ounce was priced at $225.50 = $2255.00/oz.

both are in the same neighborhood and don't have a surcharge going to a foundation.

and yes... if someone was out to buy a 1/4 ouncer, then it'd seem one of the commemorative would have to do.

I guess they do need a pricing grid for the commemoratives, and they just need to do am pricing changes every day as well.

completely stopping sales for unknown periods of time will likely discourage sales.

revoldlog · September 2, 2011 12:53PM

<< 

I guess they do need a pricing grid for the commemoratives, and they just need to do am pricing changes every day as well.

completely stopping sales for unknown periods of time will likely discourage sales. >>

They do have a pricing grid for the commemoratives. The grid came out a couple weeks ago.
The suspension may be a silver-lining for us collectors

ianrussell · September 3, 2011 2:29AM

I think the pricing last week was based on gold at $1800-$1850, but when it his $1875, they took the items down for repricing. (I need to double check that when I get to the office).

- Ian

MsMorrisine · September 3, 2011 3:01AM

<< 

<< 

I guess they do need a pricing grid for the commemoratives, and they just need to do am pricing changes every day as well.

completely stopping sales for unknown periods of time will likely discourage sales. >>

They do have a pricing grid for the commemoratives. The grid came out a couple weeks ago.
The suspension may be a silver-lining for us collectors

>>

I was looking for it in the regular pricing grid.

I see they have a separate grid in a separate file for the gold commemoratives.

I notice they don't have one for the silver commemoratives.

Now I'm back to being surprised they didn't yank the gold commemoratives.

MsMorrisine · September 3, 2011 3:04AM

<< I think the pricing last week was based on gold at $1800-$1850, but when it his $1875, they took the items down for repricing. (I need to double check that when I get to the office). >>

the first spouses were price in the 1750-1799.99 range last week.

now gold moved into the 1850-1899.99 range on Friday, thus the yank.

And to tell you the truth, the market is so crazy I'm not sure where gold is heading: up down or sideways -- which is why I think they should just program in repricing every morning after the first gold fix.

CoinCrazyPA · September 3, 2011 3:39AM

<< 

<< Not likely the Army nor MOH commem gold will go dark anytime soon:

at current pricing (p534.30, u524.30):

Melt - $5 Proof - $2209.01 (price of gold so that the value of the ~.24 oz of gold equals the purchase price)
Melt - $5 Unc. - $2167.66

gold content: 0.241873282 troy ounces. >>

but doesn't the eagle 1/4 have the same amount of gold? and it's dark..

Per the pricing grid the 1/4 eagle with gold between 1850 and 1900 is $553. of course this is no reason to run out and buy the comm., there's other ways to play gold, but if some one was looking to buy already.... >>

AGE 1/4 has a full quarter ounce of gold .25 oz= less gold in MOH .2418

GRANDAM · September 3, 2011 4:34AM

OOOPS!!!!! Posted to the wrong thread

GrandAm

OPA · September 3, 2011 5:01AM

<< 

<< 

<< 

I guess they do need a pricing grid for the commemoratives, and they just need to do am pricing changes every day as well.

completely stopping sales for unknown periods of time will likely discourage sales. >>

They do have a pricing grid for the commemoratives. The grid came out a couple weeks ago.
The suspension may be a silver-lining for us collectors

>>

I was looking for it in the regular pricing grid.

I see they have a separate grid in a separate file for the gold commemoratives.

I notice they don't have one for the silver commemoratives.

Now I'm back to being surprised they didn't yank the gold commemoratives. >>

corrected link

coasterfan · September 3, 2011 5:02AM

How much do you wanna bet that if gold suddenly falls two tiers, the Mint will keep selling and not suspend sales early for repricing? Hmmm?

OPA · September 3, 2011 5:08AM

According to the grid for gold commems..($1800- $1850) price should be at $536.45 & $546.45
grid..$1850- $1900........................$548.60 $ $558.60

I suppose the Mint forgot about them. (until next week that is)

Coinsponge · September 3, 2011 5:29AM

<< How much do you wanna bet that if gold suddenly falls two tiers, the Mint will keep selling and not suspend sales early for repricing? Hmmm? >>

I suppose that making higher margins might make them slow on their feet. Of course their sales will fall to nearly nothing during that time.

ProofCollection · September 3, 2011 7:43AM

I planced an order yesterday and I was able to add the items (Lucy Hayes Gold Spouse) to the cart and check out (no indication that they weren't available), but the receipt I received and order status onlines says, "Product not available." Not sure if I'm going to get them or not. I'll be mad if they deny me.

CCC2010 · September 6, 2011 12:09PM

Its still "Unavailable" ...What are they waiting for

OPA · September 6, 2011 12:56PM

<< Its still "Unavailable" ...What are they waiting for

>>

Wednesday or Thursday at... High Noon EDT. Your wish should be answered then.

jmski52 · September 6, 2011 11:53PM

Now that gold is down $62.00 today, will they drop the price or wait another week and then do it? I'm never clear on their procedures - does anyone have a handle on it?

baddogss · September 7, 2011 12:01AM

<< Now that gold is down $62.00 today, will they drop the price or wait another week and then do it? I'm never clear on their procedures - does anyone have a handle on it? >>

This may help ...

U.S. Mint Gold Pricing Grid

Bullsitter · September 7, 2011 6:22AM

New prices up........

Even the Army and MoH gold had an increase.......

MsMorrisine · September 7, 2011 6:25AM

<< 

<< Now that gold is down $62.00 today, will they drop the price or wait another week and then do it? I'm never clear on their procedures - does anyone have a handle on it? >>

This may help ...

U.S. Mint Gold Pricing Grid >>

I'm willing to bet they wait a week, to next wednesday.

RobertS · September 7, 2011 10:25AM

The sob's are never on a rush to reprice down, they are only quick to pull stuff when gold goes up.

CCC2010 · September 7, 2011 10:31AM

<< The sob's are never on a rush to reprice down, they are only quick to pull stuff when gold goes up. >>

US Mint - Gold Unavailable - Being Repriced...

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