Learn About Lower Gold Prices At The US Mint Directly At GoldCoin.net

Reacting to the lower prices at the London Gold Fixing on January 27, 2010, the US Mint lowered prices on certain numismatic gold coins. Current numismatic gold coins being sold by the Mint are the 2009 American Buffalo proofs and five different First Spouse gold coins.

The price for the one ounce Buffalo was $1,410 and now stands at $1,360; the prices for First Spouse proof and uncirculated coins were $729 and $716 respectively and currently stand at $704 and $691. This price adjustment is the result of the gold price drop at the London Fixing. The Mint prices adjust in increments of $50 as the Fix drops; for this reason, the one ounce Buffalo fell the full $50, while the half ounce First Spouse gold coins only dropped $25.

For several weeks, the gold price has been hovering near its resistance price as profit taking and sell offs have prevailed. The spot price has dropped below $1,100 an ounce, leading many analysts to speculate that it is positioning for another upward run as investors gain confidence.

Even though the price at the US Mint has dropped, buying gold coins there may not be your best bet. Gold exchanges typically sell bullion for much closer to spot price, meaning that it is possible to buy from an exchange and pay less than buying from the Mint. A potential $200 to $300 savings that may be realized is valuable to an investor looking to profit from gold coin sales.

As gold prices fluctuate, the US Mint will adjust its prices. While this may be of some benefit to investors when the prices drop, the money that could be saved by buying from a gold exchange could be even more appealing, allowing investors to spend more on gold and less on fees. 

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Kevin Johnson

Senior Staff Writer - GoldCoin.net