US Mint publishes new pricing policy

From the Mint News blog:

Today, the US Mint published notification of a new pricing policy for Gold and Platinum Numismatic products. This pricing policy will apply to collectible gold and platinum products that the US Mint sells directly to collectors. The new policy is drastic and much needed change that provides a greater level of predictability and transparency for the US Mint's customers.

The move seems to be in response to the incredibly volatile precious metals prices experienced during 2008. During the course of 2008, platinum was up more than 48% at its peak and down more than 50% at its low. Gold was up over 21% at its peak and down over 14% at its low. Amidst these fluctuations, the US Mint raised prices for platinum products once, suspend sales twice, and lowered prices twice. Gold products were available for sale at very high premiums for most of the year before being briefly suspended and resumed with lowered towards the end of the year.

The US Mint's pricing policy will allow them to adjust the prices of products on a weekly basis, when the average price of gold and platinum cross certain thresholds. The new pricing methodology will become effective January 12, 2009.

The notification also provides collectors with the price for the 2009 Ultra High Relief Gold Double Eagle. Provided the average price of gold remains between $850.00 - $899.99, the price will be $1,239.00.

See complete story here.


http://mintnewsblog.blogspot.com/2009/01/us-mint-publishes-new-pricing-policy.html

 

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Well, there goes the ranch.....

 

*******s. A 50% premium on bullion.

 

Wow, really? ******* gets censored? I'll be ******

 

Before it was easy, I just ordered the gold coins when they became available.

Now, I am going to be watching gold prices daily and wondering when to pull the trigger.

 

Bang....

 

I was about to post on this. What does everyone think this will do to sales numbers, including the UHR?

 

What's it going to do?

What's it going to do?!?!?!

Absolutely nothing! With speculation of recent Mint products, the UHR St. Gaudens gold piece is going to be sold out in 30 minutes, that's what it's going to do.

You'll see pre-sale pieces on eBay for 25-50% over the Mint asking price, and then the day after they're sold out, you'll see pieces for 200%-300% over the asking price.

This trend will be sustained for 30-90 days, and then you'll see prices start to fade until they reach the original Mint price approximately 6 months after the release date.

Same as the first first-lady pieces.
Same as the reverse-proof eagle.
Almost the same as the 1999 and 2001 silver proof sets.

Etc., etc., etc.

 

tell harvey to keep an extra bullet for me :whistle:

 

it is quite overpriced. i will not buy anymore from the mint. maybe dealer's bullion coins is the best now.

 

what about those who order before jan. 12, 2009?. what price will the mint considered?. and those backordered before jan. 12, 2009?. what is their price?.

 

So what time does the mint make orders available for new products? If I want the UHR, what time do I need to be online to order it? 12:00AM on the 22nd?

 

The UHR St. Gaudens will be minted to demand.

It will not sell out in the first 30 minutes.

 

Minted to demand? Where did you see that?

If that's the case, to order one of these, one would have to have either taken leave of their senses, or have more money than they know what to do with.

 

http://www.coinnews.net/2008/11/24/...f-double-eagle-gold-coins-in-production-4548/

The gold pieces are set for an unlimited mintage and will be sold only in 2009, unless inventory remains for 2010. In 2010, palladium versions of the famous design will be struck should the Original Saint-Gaudens Double Eagle Ultra-High Relief Palladium Bullion Coin Act become law.

 

Interesting.

Thanks for sharing.

Well, I'm glad to see that collectors won't be shut out on this one.

 

the mint is well prepared for these. the price is very much higher. the mark up is almost 50% from melt value.

the other things is that if you place order before jan.12, 2009. the old prices is maintained. such as you ordered is on jan. 2,2009 and is backordered. no new adjusted prices is involved.

 

I ordered two First Spouse coins a couple of days ago. I hope the Mint does not lower the price of these coins in the next few days.

 

Interesting, the charts are filled with prices for all those fractional coins that they aren't making anymore.

 

because the mint just hike those damn stuffs.