Message:

<p>[QUOTE=&quot;yakpoo, post: 688815, member: 18157&quot;]I just got off the phone with &quot;Candice&quot; of the US Mint&#039;s Customer Service Center. I asked Candice how the US Mint determines when to increase coin prices (UHR and FS) as the price of gold increases.</p><p>&nbsp;</p><p>Here&#039;s what she had to say...</p><p>&nbsp;</p><p>Each Wednesday, at 8:00 AM, the US Mint in Philadelphia looks at the spot price of gold. The spot price at that instantaneous moment in time determines the coin pricing bracket for the coming week. </p><p>&nbsp;</p><p>The price of gold could rise or fall $500 at 8:10 AM...no matter. Whatever the spot price is at 08:00 AM on Wednesday morning determines the chart price it&#039;s gonna be until the following Wednesday...at 8:00 AM...according to Candice.</p><p>&nbsp;</p><p>Candice has spoken :thumb:</p><p>&nbsp;</p><p><b><span style="color: red">*****CORRECTION*****</span></b></p><p>&nbsp;</p><p><b>Elaine has also spoken</b>...and helped add an important piece that Candice left out...</p><p>&nbsp;</p><p>The Mint doesn&#039;t use the &quot;spot price&quot; as Candice had indicated...they use the &quot;<b>weekly average London A.M. Fix price</b>&quot;. The week begins with the Thursday London A.M. Fix price and ends with the following Wednesday&#039;s London A.M. Fix price.</p><p>&nbsp;</p><p><span style="color: black"><font face="Verdana"><a href="http://www.coinnews.net/2009/01/07/us-mint-to-adjust-gold-and-platinum-coin-prices-weekly-using-london-fix-4662/" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.coinnews.net/2009/01/07/us-mint-to-adjust-gold-and-platinum-coin-prices-weekly-using-london-fix-4662/" rel="nofollow"><span style="color: #22229c">http://www.coinnews.net/2009/01/07/us-mint-to-adjust-gold-and-platinum-coin-prices-weekly-using-london-fix-4662/</span></a></font></span></p><p>&nbsp;</p><p>I was looking for a link that would provide the weekly average London A.M. Fix price, but the best I could find was a chart that plots the daily A.M. Fix price for the past year. Follow the link below...select &quot;Free Charts&quot; on the menu on the left, then &quot;Gold Fix AM($)&quot;</p><p>&nbsp;</p><p><a href="http://www.thebulliondesk.com/" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.thebulliondesk.com/" rel="nofollow">http://www.thebulliondesk.com/</a></p><p>&nbsp;</p><p>Here&#039;s a link that shows the historical daily London A.M. Fix prices...</p><p>&nbsp;</p><p><a href="http://www.kitco.com/gold.londonfix.html" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.kitco.com/gold.londonfix.html" rel="nofollow">http://www.kitco.com/gold.londonfix.html</a></p><p>&nbsp;</p><p>Will the Mint raise their prices tomorrow? It&#039;ll be close, but I&#039;m guessing the weekly average will come in just under $1000.[/QUOTE]</p><p><br /></p>

Your name or email address:

Do you already have an account?

• No, create an account now.
• Yes, my password is:
• Forgot your password?

Stay logged in