Platinum Eagle Prices Cut; Buffalo and First Spouse Gold Prices Raised

Precious metal gains and losses kicked in new prices for United States Mint gold and platinum collector coins on Wednesday morning.

Normally U.S. Mint coins price adjustments go either up or down, across the board. However, the weekly average for platinum fell as gold rose, resulting in Mint coins moving opposite of each other.

The newly released 2010 American Eagle Platinum proof coin went from its launch price of $1,892 to $1,792, falling $100.

The Mint’s pricing policy relies predominantly on the weekly average of precious metals prices between the prior Thursday AM London Fix to the current Wednesday AM London Fix. The average price for platinum during this period was $1,532.78 an ounce, which slid the Mint’s platinum coin pricing scale to the current $1,450.00 to $1,549.99 and set the coins to the price that they are today.

The change is stinging for buyers who have already scooped up most of the coins. 8,268 were purchased between their launch on August 13 through to August 15, leaving only 1,732 left as of Sunday. There may be just a few hundred left to order as of this writing since their mintage ceiling is 10,000.

2010 First Spouse Gold proof and uncirculated coins rose $25, with the proofs moving up from $754 to $779, and the uncirculated gold pieces jumping from $741 to $766. Both coin options have now returned to their highest pricing points of the year.

2010 American Buffalo Gold proof coins advanced $50 to $1,510.00 — also at their highest levels of the year.

The weekly average for gold was $1,218.11 an ounce, lifting the Mint’s gold coin pricing range between $1200.00 and $1,249.99.

For future prices adjustments to occur, the London Fix gold or platinum weekly average will need to move outside the aforementioned ranges. For the Platinum Eagle proof coins, however, it would seem more likely that they will be sold out before another adjustment could take place — especially with their more attractive price.