At the time of this writing it was expected that the price of the American Gold Eagle Proof coins would drop from September 20, 2011 due to the volatility of gold prices that had been on the downward spiral recently. However, the price cut would be based on the London gold AM and PM fixes at $1,838 per oz and $1,800 per oz respectively.
It is the US Mint which sets the collector gold coin prices from the range of $1,750 to $1,799.99. Price reductions would be seen in First Spouse proof coins, 1 oz un-circulated Gold Eagle, un-circulated First Spouse gold coins, Proof Gold Eagles coins of 1/10 oz., ¼ oz., ½ oz, 1 oz. and 4-coin set as well as the 1 oz gold American Buffalo coin. It can be as low as $5 or as high as $92.50 for a price cut.
Before the new prices are implemented, the US Mint freezes all ordering of the product by late morning. The Mint may also lower the price of the Proof American Eagle Platinum gold coin by as much as US $200. No purchases are allowed during this period. More gold coins may be affected in the price cut exercise.
Commemorative Gold Coins
The US Mint also noted the lowered sales in investment gold coins recently. There were only 115,500 ounces of American Eagle bullion coins sold in September 2011 although these are the more popular US minted gold coins.
The American Buffalo bullion coins sale also decreased with 13,000 ounces of coins sold in September as compared to 28,000 ounces in August. But US minted bullion coin prices are dependent on different dealers as they are not available from the US Mint. There is no fixed weekly pricing on the US investment graded coins. These include the 24-karat American Buffalo bullion and the 22-karat gold American Eagle. Their price is slightly higher than the current gold price.
Another commemorative gold coin is the US Medal of Honor and Army coin. New pricing of these coins caused their suspension in August 15, 2011. There are many types of US minted gold coins which gold buyers can consider adding to their portfolio. However, many buyers choose US minted gold coins that have some history regardless of their nationality. A serious gold buyer should research more into the various gold options for a varied portfolio.
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