Today at noon ET the United States Mint began selling the 2009 American Buffalo Gold Proof Coin for $1,360.00, as it announced on Oct. 22.

The one-ounce .9999 fine (24 karat) gold coin is expected to draw significant attention. The US Mint handled early demand in improved fashion compared to the collector blitz and resulting problems that brought its web site down just a few weeks ago with the release of another product, the Lincoln Coin and Chronicles Set.

While there were initial reports of several minute online order delays, that appeared to be the extent of any issue. Phone lines were busy. Some collectors indicated that it took dozens of minutes to get through to a Mint customer service representative, but again, it was unlike their experience of weeks back where there were reports of over an hour of delay and repeated "call back" messages. The Mint added an extra menu option that routed customers to a different queue and standby waiting list, which may have helped.

The Mint’s handling of the Buffalo Gold proof orders on opening day indicates they made improvements, but demand may also have been less intense. The $1,360.00 price point certainly held some customers at bay — especially when considering that gold prices have been dropping for several days and the coins missed out on a $50 price cut by a mere 28.8 cents. (See 28.8 Cents Prevents US Mint Gold Coin Price Reductions.) Many may try and wait for such a cut next week, despite the possibility that the coins could sell out — the Mint has not indicated how many are available, and there are no order limits in place.

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Read the rest of 2009 American Buffalo Gold Proof Coin Launches with Little Issues (253 words)

US Mint collector coins moved like molasses when compared to sales figures of two weeks ago. But bullion coins — especially gold — still had a little swagger in their step. October will be a robust month for American Eagles and American Buffalos.

These and other highlights follow:

• UHR Double Eagles took a significant hit, rising sadly by only 562. Since they went on sale Jan. 22, there has been one single instance when weekly sales were lower. The reason? Gold has been on a five day losing streak, which started last Thursday. It makes sense for collectors to be cautious in buying with expectations of a $50 price decline. We missed that reduction by just 28.8 cents.

• In the Lincoln category, the Chronicles sets were taken off standby status last week with the max 50,000 officially allocated. Lincoln Cent Proof Sets climbed by 4,900, which was less than half of the prior 10,921 increase.

• 2009 US Mint and US Mint Proof Sets were the biggest unit gainers, rising 21,826 and 22,613 respectively. The proof sets were actually up a tad bit. Not so for the mint sets which previously climbed by 74,474. The 500,000 milestone is still nearly 11K away.

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  Read the rest of US Mint Sales: Bullion Robust, Collector Coins Retreat (1,143 words)

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The price of gold has been on a five-day price slide, but ironically the timing of the decline was slightly off in helping collectors pay less for US Mint gold collector coins.

The US Mint uses a London Fix weekly gold average to determine whether to keep gold coin prices the same, or adjust them up or down. The average came in 28.8 cents higher than the threshold needed to cause a reduction of UHR Gold Double Eagles by $50, First Spouse Gold Coins by $25, and 2009 Gold Buffalo Proof Coins by $50.

The Buffalos go on sale Thursday at noon ET. Since the London Fix five day average is $1,050.278, the coins will launch with a price tag of $1,360.00. Had the average been at or below $1,049.99, the coin would have been released at $1,310.00.

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Read the rest of 28.8 Cents Prevents US Mint Gold Coin Price Reductions (139 words)

Unless the London gold price average on Wednesday falls below $1035 an ounce, the US Mint will again increase the price of its gold collector coins, marking the fourth straight week it has adjusted prices.

With gold hitting an all-time high of $1,065 an ounce Tuesday, it would seem unlikely, although it is possible, for gold prices to fall overnight by $30. (The final London PM price the US Mint will use in its calculation to determine price adjustments is fixed around 10 a.m. Eastern Time.)

The following are the available figures the US Mint will use to arrive at an average:

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Read the rest of US Mint Gold Coin Price Increases… Again (96 words)

For the third straight week, the United States Mint is set to adjust its collector gold coin prices in response to London gold weekly price changes.

Expect UHR Gold Double Eagles and First Spouse Gold Coins to rise Wednesday, Oct. 7, around noon ET by $50 and $25, respectively. These coin prices were just lowered last Wednesday, Sept. 30.

Although there is still one day left in the Mint’s gold coin calculation to consider, gold has shot healthily above the $1,000 an ounce trigger point during the last several days. The current four day average is at $1,010 an ounce. Prices would have to tumble below $960 an ounce by early Wednesday morning for no correction to occur. That seems most unlikely since spot gold is sitting at $1,038.30 an ounce (plus $21.10 on the day) as of this writing.

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Read the rest of US Mint Gold Coin Prices Set to Increase Again (134 words)

Thanks to gold prices that have consistently fallen under $1,000 an ounce during the last seven days, the United States Mint on Wednesday, the final day in September, cut prices on Ultra High Relief Double Eagles and First Spouse Gold Coins by $50 and $25, respectively.

The declines come exactly one week after the US Mint raised gold coin prices by the same amounts in response to a gold average that had moved above $1,000.

US Mint collector gold coin prices are subject to change weekly based on the the Mint’s pricing policy which links the market price of gold to the selling price for the precious metal coins. The average price for London gold since last Thursday was $997.28. The price fell between $950- $1,000 and dictated coin price updates.

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Read the rest of US Mint Gold Coin Prices Decline (133 words)

Unless gold prices find and then fall off the world’s highest cliff on Wednesday, the US Mint will raise Ultra High Relief Double Eagles and First Spouse Gold Coin prices by $50 and $25, respectively.

US Mint collector gold coin prices are subject to change weekly based on the US Mint’s pricing policy which links the market price of gold to the selling price for the precious metal coins.

The last gold coin price increases occurred on Sept. 2 when the gold average topped $950 an ounce. While Wednesday gold prices must still be taken into account, the prior 4 day gold average stands at $1,011.38 an ounce, with many days well above the $1,000 threshold which automatically triggers a new round of higher coin prices.

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Read the rest of US Mint Gold Coin Prices to Rise (167 words)

Thanks to rising gold prices over the last several days, US Mint collector gold coins will increase in price as well. The cost to purchase a Ultra High Relief $20 Gold piece will climb by $50 while each First Spouse Gold Coin will rise by $25.

The Mint pricing policy is to average recent gold prices and compare the result against a coin pricing grid. (See coin pricing grid for First Spouse Coins as an example.) As the London gold average shifts up or down by $50, the Mint readjusts coin prices in increments determined by the guide.

The gold average has moved above $950 an ounce, which means:

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Read the rest of US Mint Gold Coin Price Increases (141 words)

As a consequence of the US Mint’s new pricing policy, the prices for gold coins will likely decrease this week. Will collectors use this as an opportunity to buy US Mint gold coins?

Under the US Mint’s new pricing policy for gold and platinum numismatic products, prices are adjusted as often as weekly based on the average of the London Fix prices from the previous Thursday AM through Wednesday AM. If the average price moves across thresholds set at $50 increments, prices for products are adjusted.

For the past several weeks prices for gold products have not changed, as gold has fluctuated between $900 and $950. The prior week’s gold prices will likely move gold into a lower price threshold. The prices for this week’s period are as follows:

Unless the Wednesday London AM Fix price of gold is above $970 or so, we should see a price reduction for the US Mint’s gold products. Although there are not a large number of gold products currently available, some collectors may have been waiting for a price reduction to make their purchases. Of course, they will also have to consider whether the price of gold might decline further in the coming weeks or months.

The US Mint has stated that price changes will be effective on Thursday mornings, but the past several adjustments have taken place on Wednesday afternoons. Once adjusted, the new prices should remain in effect at least until the following week when prices could be adjusted again if the average price of gold moves out of the $850 – $899.99 range.

The US Mint’s currently available gold products, which would have price reductions are listed below.

2009 Ultra High Relief Double Eagle Gold Coin
2008 First Spouse Gold Louisa Adams – Unc
2008 First Spouse Gold Louisa Adams – Proof
2008 First Spouse Gold Jackson’s Liberty – Unc
2008 First Spouse Gold Jackson’s Liberty – Proof
2008 First Spouse Gold Van Buren’s Liberty – Unc
2008 First Spouse Gold Van Buren’s Liberty – Proof
2009 First Spouse Gold Harrison – Unc
2009 First Spouse Gold Harrison – Proof

A price reduction would see the price of the 2009 Ultra High Relief Double Eagle Gold Coin move lower by $50 to $1,239.00. First Spouse Gold Coin prices would move lower by $25 to $604.00 and $591.00 for proof and uncirculated coins, respectively.

The last time prices were at these levels was the last week of January 2009. It will be interesting to see whether the lower prices result in a noticeable increase in sales.

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