24 karat First Spouse Gold Coin Prices Likely Higher Nov. 10

Tomorrow, all 24 karat First Spouse Gold Coin prices will most likely move up, based on the United States Mint’s pricing policy.

Gold has ascended substantially during the last several days. The weekly average for London gold has climbed above the $1,300.00 to $1,349.99 per ounce range, and if prices remain high Wednesday, the U.S. Mint will automatically trigger a price increase for all its First Spouse Gold Coins.

Proof coins now at $829 should rise to $854, and uncirculated coins are expected to adjust from $816 to $841.

To determine numismatic gold coin prices, the average London gold price from the previous Thursday morning up to Wednesday morning is calculated and compared to the Mint’s First Spouse Gold Coin pricing grid. The Wednesday PM price is then used as a directional indicator, which is most important for this round.

The weekly average should easily be above $1,350.00 an ounce given how high daily prices have been since last Thursday. The aforementioned PM component is most important. Despite how high the weekly gold average is, if the PM gold fixing is set below $1,350.00 an ounce, prices will remain unchanged. Any higher and they will go up. Although the latest available PM price on Tuesday had gold at $1421, it is noteworthy that U.S. gold prices tumbled in after-hour trading toward $1390. A bigger drop overnight, although unexpected, must be at least considered.

According to the Mint’s practice, it should adjust prices on Wednesday after 11 a.m. ET. However, the timing is not set in stone.

If First Spouse Fold Coin prices rise tomorrow, other US Mint gold numismatic products will be effected as well. The Mint will increase prices for the 22 karat 2010 Proof American Gold Eagle products and the 24 karat 2010 Proof Buffalo Gold Coin.

U.S. Mint numismatic coins are available at http://catalog.usmint.gov/ and toll free at 1-800-USA-MINT (872-6468).