New Gold Coin pricing system in US

January 16, 2009

Commodity Online
WASHINGTON: Following the rapid shift in gold bullion prices, the US Mint has announced the launch of a new pricing system for gold coins.

The new system creates a new method of pricing of collector coins using a formula.

Effective from January 12, the new pricing structure is intended to prevent suspensions of gold coins and is more flexible and transparent than its predecessor.

US Mint explained that metal prices will by reviewed on a weekly basis and prices of gold coins adjusted on Thursday mornings whenever necessary.

In other news, a coin dealer in Indianapolis has stated that he has witnessed a sharp increase in sales of gold coins by investors over recent months.

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