The United States Mint released a new price guide for commemorative gold coins which determines coin prices weekly based on the direction of gold. (See the commemorative gold coins prices grid.)
The U.S. Mint had suspended four 2011-dated commemorative gold coins on August 12 "due to the current market volatility" of precious metals. Each of the coins includes 0.2419 ounces of gold, which had brought their melt values very close to their selling prices.
When the coin suspensions were first implemented, United States Mint spokesman Michael White stated that the Mint was developing a new pricing system similar to the one used for its numismatic or collector gold coins. That new system was put into effect on Thursday, August 25, when the Mint ended the suspensions and reintroduced the commemorative gold coins with prices that were $79.35 higher.
The new price guide, introduced with the document entitled "Notification of New Pricing Methodology," became public Friday morning through the GPO, or U.S. Government Printing Office, and was dated August 22, 2011.
Similar to the pricing mechanism used for the Mint’s collector gold coins, prices for the commemorative may change weekly based on the London Fix weekly average covering the previous Thursday AM Fix through the Wednesday AM Fix. Based on predefined $50 ranges in the average, commemorative gold coins can move up or down in price by $12.15. The price guide starts at $500.00 an ounce and moves as high as $2,999.99 an ounce. Proof commemoratives have prices that are always $10 higher than the uncirculated counterparts.
The following is the main portion of the new price guide as released by the United States Mint:
Notification of New Pricing Methodology
SUMMARY: The United States Mint is implementing a new pricing methodology for its commemorative gold coins to mitigate the effect that fluctuating gold commodity costs has on the pricing of these products. The new pricing methodology is based primarily on the London Fix weekly average (average of the London Fix prices covering the previous Thursday A.M. Fix through the Wednesday A.M. Fix) gold prices, which reflect the cost of the gold bullion that these products contain. As required by law, commemorative coins must be sold at a price equal to the sum of the face value of the coins, the surcharge with respect to such coins, and the cost of designing and issuing the coins (including labor, materials, dies, use of machinery, overhead expenses, marketing, and shipping). This pricing methodology will allow the United States Mint to change the prices of these products as often as weekly so they better reflect the costs of gold for these coins.
DATES: The new pricing methodology, as further explained in the SUPPLEMENTARY INFORMATION section, will go into effect on date of publication.
FOR FURTHER INFORMATION CONTACT: B.B. Craig, Associate Director for Sales and Marketing; United States Mint; 801 Ninth Street, NW.; Washington, DC 20220; or call 202–354–7500.
SUPPLEMENTARY INFORMATION: Pursuant to the authority under 31 U.S.C. 5134(f)(1)(A)(i), and public laws that authorize the Secretary of the Treasury to mint and issue commemorative coins. Effective date of publication, the United States Mint will commence selling commemorative gold coins at prices established by using the new pricing methodology. Specifically, each Wednesday, the United States Mint will apply the average London Fix for gold (average of the London Fix prices covering the previous Thursday A.M. Fix through the Wednesday A.M. Fix) to the below pricing schedules. Price adjustments as a result of this process, if any, will be effective at 10 a.m. E.T. on the immediately following Thursday. Dated: August 22, 2011.
Richard A. Peterson, Deputy Director, United States Mint
The pricing grid published by the Mint follows:
Commemorative Gold Coins Prices Grid
| Average Gold Price |
Proof Price |
Uncirculated Price |
||
| $ 500.00 | to | $ 549.99 | $ 230.55 | $ 220.55 |
| $ 550.00 | to | $ 599.99 | $ 242.70 | $ 232.70 |
| $ 600.00 | to | $ 649.99 | $ 254.85 | $ 244.85 |
| $ 650.00 | to | $ 699.99 | $ 267.00 | $ 257.00 |
| $ 700.00 | to | $ 749.99 | $ 279.15 | $ 269.15 |
| $ 750.00 | to | $ 799.99 | $ 291.30 | $ 281.30 |
| $ 800.00 | to | $ 849.99 | $ 303.45 | $ 293.45 |
| $ 850.00 | to | $ 899.99 | $ 315.60 | $ 305.60 |
| $ 900.00 | to | $ 949.99 | $ 327.75 | $ 317.75 |
| $ 950.00 | to | $ 999.99 | $ 339.90 | $ 329.90 |
| $ 1,000.00 | to | $ 1,049.99 | $ 352.05 | $ 342.05 |
| $ 1,050.00 | to | $ 1,099.99 | $ 364.20 | $ 354.20 |
| $ 1,100.00 | to | $ 1,149.99 | $ 376.35 | $ 366.35 |
| $ 1,150.00 | to | $ 1,199.99 | $ 388.50 | $ 378.50 |
| $ 1,200.00 | to | $ 1,249.99 | $ 400.65 | $ 390.65 |
| $ 1,250.00 | to | $ 1,299.99 | $ 412.80 | $ 402.80 |
| $ 1,300.00 | to | $ 1,349.99 | $ 424.95 | $ 414.95 |
| $ 1,350.00 | to | $ 1,399.99 | $ 437.10 | $ 427.10 |
| $ 1,400.00 | to | $ 1,449.99 | $ 449.25 | $ 439.25 |
| $ 1,450.00 | to | $ 1,499.99 | $ 461.40 | $ 451.40 |
| $ 1,500.00 | to | $ 1,549.99 | $ 473.55 | $ 463.55 |
| $ 1,550.00 | to | $ 1,599.99 | $ 485.70 | $ 475.70 |
| $ 1,600.00 | to | $ 1,649.99 | $ 497.85 | $ 487.85 |
| $ 1,650.00 | to | $ 1,699.99 | $ 510.00 | $ 500.00 |
| $ 1,700.00 | to | $ 1,749.99 | $ 522.15 | $ 512.15 |
| $ 1,750.00 | to | $ 1,799.99 | $ 534.30 | $ 524.30 |
| $ 1,800.00 | to | $ 1,849.99 | $ 546.45 | $ 536.45 |
| $ 1,850.00 | to | $ 1,899.99 | $ 558.60 | $ 548.60 |
| $ 1,900.00 | to | $ 1,949.99 | $ 570.75 | $ 560.75 |
| $ 1,950.00 | to | $ 1,999.99 | $ 582.90 | $ 572.90 |
| $ 2,000.00 | to | $ 2,049.99 | $ 595.05 | $ 585.05 |
| $ 2,050.00 | to | $ 2,099.99 | $ 607.20 | $ 597.20 |
| $ 2,100.00 | to | $ 2,149.99 | $ 619.35 | $ 609.35 |
| $ 2,150.00 | to | $ 2,199.99 | $ 631.50 | $ 621.50 |
| $ 2,200.00 | to | $ 2,249.99 | $ 643.65 | $ 633.65 |
| $ 2,250.00 | to | $ 2,299.99 | $ 655.80 | $ 645.80 |
| $ 2,300.00 | to | $ 2,349.99 | $ 667.95 | $ 657.95 |
| $ 2,350.00 | to | $ 2,399.99 | $ 680.10 | $ 670.10 |
| $ 2,400.00 | to | $ 2,449.99 | $ 692.25 | $ 682.25 |
| $ 2,450.00 | to | $ 2,499.99 | $ 704.40 | $ 694.40 |
| $ 2,500.00 | to | $ 2,549.99 | $ 716.55 | $ 706.55 |
| $ 2,550.00 | to | $ 2,599.99 | $ 728.70 | $ 718.70 |
| $ 2,600.00 | to | $ 2,649.99 | $ 740.85 | $ 730.85 |
| $ 2,650.00 | to | $ 2,699.99 | $ 753.00 | $ 743.00 |
| $ 2,700.00 | to | $ 2,749.99 | $ 765.15 | $ 755.15 |
| $ 2,750.00 | to | $ 2,799.99 | $ 777.30 | $ 767.30 |
| $ 2,800.00 | to | $ 2,849.99 | $ 789.45 | $ 779.45 |
| $ 2,850.00 | to | $ 2,899.99 | $ 801.60 | $ 791.60 |
| $ 2,900.00 | to | $ 2,949.99 | $ 813.75 | $ 803.75 |
| $ 2,950.00 | to | $ 2,999.99 | $ 825.90 | $ 815.90 |
