In 2009, the United States Mint created the numismatic pricing policy. This new policy allows the price adjustment of gold coins in connection to the changing prices of gold in the market. The numismatic policy allows a price change as often as weekly. The average price for the week of gold is based on the London Fix prices which cover the period of Thursday morning to the Wednesday morning of the following week. The price of gold coins changes in accordance to the change in price of gold by $50 increments.
The Present Price Trend For Numismatic Gold Coins
The price of gold increased from $1,300 to $1,349.99 in the period of September to the middle of October 2010. The price of Proof Gold Buffalo Coins (2010) which have 1 oz. of 24-karat gold in each one has increased from $1,560 to $1,610. The First Spouse Gold Coin which has 0.50 oz of 24-karat gold in it has increased in value from $804 to $829 for proof coins. Those that have not yet been circulated increased from $791 to $861. 2010 Proof Gold Eagles have been launched on October 7, 2010 and have a price of $2,398 for a set of 4. Numismatic Gold Coins In Comparison To Bullion Coins
Numismatic gold coins are more valuable than gold bullion coins. Apart from their monetary value, they are also considered as collector’s item by dealers and brokers alike. IN general numismatic gold coins are also less affected by the spot price of gold compared to gold bullion.
Determining Factors Of Numismatic Gold Coins Value
The factors that dictate the price of numismatic gold coins are their rarity, their quality, their age and their history as a coin. They become more valuable if they have a connection to an important event in history or if they were discovered from a sunken ship. These events will make the numismatic gold coins even more valuable than the other coins of the same kind but with less history.
The Sheldon System
The Sheldon System is the system used to grade numismatic gold coins. Using this system, the gold coins are given a grade from the scale of 1 being the lowest and 70 being the highest. The coins with almost non-existent features are given a grade of 1 while those that are in highest mint condition are given a grade of 70.
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