Precious Metals Pricing Strategy
by U.S. Mint
The United States Mint announced
today it is implementing a new strategy for
pricing numismatic products containing gold and
platinum effective January 12, 2009.
Non-precious metal products and bullion coins
will not be affected by the new pricing
"Transparency, agility, and customer service are
the catalysts for our new pricing method," said
United States Mint Deputy Director Andy Brunhart.
"The volatile precious metals market prompted
our customers to suggest that we re-vamp our
process, and we listened."
The United States Mint published a Federal
Register notice on January 6, 2009, that
included an itemized pricing structure for gold
and platinum numismatic products. (This notice
does not affect gold commemorative coin
pricing.) Product prices will fluctuate within
the new structure, which is based on a range of
the average market price for gold and platinum.
For gold numismatic products, the range will be
within $50 and, for platinum numismatic
products, the range will be within $100.
Pricing of gold and platinum numismatic products
will be directly related to the average weekly
London fix prices for these metals. If the
market value of gold and platinum moves to a
higher or lower range, the price of each product
will be increased or decreased in corresponding
increments. For example, if the weekly average
price of gold rises to the next $50 price range,
the United States Mint will increase the price
of gold numismatic products by $50 for each
ounce of gold in the product. Under this
scenario, the price of a one-tenth ounce gold
uncirculated coin would increase by $5.
Previously, the United States Mint published a
Federal Register notice each time the price of a
product was changed. Under the new policy, the
notice will be in effect throughout 2009. It
encompasses a broad band of price ranges for the
metals. The United States Mint's new pricing
formula will be more responsive to changes in
the market price of gold and platinum.
The pricing tables for numismatic products
containing gold and platinum coins can be found