United States Mint 2011 Commemorative Gold CoinsPrices for United States Mint commemorative gold coins may change once a week, and the coins are again available after a near two-week halt to their sales thanks to a new pricing grid methodology.
The United States Mint on Thursday, August 25, introduced a new grid based commemorative gold coin price guide which placed the coins back on sale based on the current average of gold. The pricing grid works similar to the system introduced in 2009 for numismatic gold coins. If the weekly gold average moves sufficiently, commemorative gold coins follow with an up or down $12.15 adjustment. The pricing grid follows:
Commemorative Gold Coin Pricing GridAverage London Fix Gold Price (dollars)The United States Mint describes the new pricing methodology, in part, as being 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."
The Mint goes on to say that:
"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." And that the pricing grid system permits changes to coins "as often as weekly so they better reflect the costs of gold" in them.
Commemorative coins are authorized through legislative initiatives that are passed in congress and get signed into law by the President. Typical years result in at least two commemorative coins produced in silver. Not every year has gold ones, as 2011 does. The coins affected by the new pricing grid system this year include the:
Proof 2011 Medal of Honor $5 Commemorative Gold CoinUncirculated 2011 Medal of Honor $5 Commemorative Gold CoinProof 2011 U.S. Army $5 Commemorative Gold CoinUncirculated 2011 U.S. Army $5 Commemorative Gold CoinAs a result of the new grid system, each of the coins went up in price by $79.35. The two proofs currently cost $534.30 while the two uncirculated coins each cost $524.30. But again, their prices can change weekly. While the Mint's system indicates that price adjustments will become effective at 10 a.m. ET on the immediately following Thursday, the bureau normally adjusts prices, if necessary, right before 12:00 noon ET on each Wednesday.
More information on United States Mint commemorative coins for this year and past years is available at sister site http://www.coinnews.net/commemorativecoins/ as well as the Mint's web page at http://www.usmint.gov/mint_programs/?action=commemoratives.
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