US Mint Gold Coins: The Current Market Scenario

According to the CoinNews.net report of July 22, 2010, the demand for American numismatic gold coins has increased, compared to the previous US Mint item sales. All coins, except ten US Mint gold coins, exhibited no alteration in demand, seven of which belonged to the smaller Presidential $1coin category. The bigger dollar products that fell lower were the three First Spouse gold coins – two of the Jane Pierce Fillmore $5 numismatic gold coins and the proof Margaret Taylor. What improved the weekly sales still remains a matter of speculation.

US Mint Gold Coins: Major Gainer of the Week
The most likely reason for the improvement in the US Mint gold coin sales was the launch of the 2010 US Mint Uncirculated Coin Set on Thursday, July 15, 2010. There were 200,764 orders placed for the 2010 Mint Set. Since the 2010 coin collection raised immense interest in the other collectible items, it is speculated that same would be the case with the 4-coin 2010 US Proof, which has been the most sought-after annual set.

US Mint Gold Coins: Drop in Prices
On July 21, 2010, the US Mint lowered the prices for numismatic gold coins. This price decrease followed a general decline in gold prices. The United State Mint usually fixes numismatic gold prices according to the average London Fix rates. The prices are settled upon after taking into account the average price on the previous Thursday AM till the present Wednesday AM. If there seems to be a discrepancy in the average price (and is in agreement with the Wednesday PM Fix rate), the prices are altered accordingly.

The following are two of the most recent gold coins from the US Mint:

2010 Proof Gold Buffalo: This was released first, on June 3, 2010. This coin contains one troy ounce of 24k gold. The initial price decided upon was $1,510 and this rate stuck on till it slumped this week.

First Spouse Gold Coins: This was released periodically and roughly followed the Presidential dollars. The latest releases include:
• Sarah Polk
• Margaret Taylor
• Abigail Fillmore
• Jane Pierce

All these are available in proof as well as uncirculated formats. The most recent releases saw a pricing of $779 for the proof coins and $766 for the uncirculated coins.