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Wednesday, 14th January 2009 (803 views)

The US Mint has announced the launch of a new pricing system for gold coins as a result of rapid shifts in gold bullion prices.

According to the Mint, the new system creates a new method of pricing collector coins using a formula.

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

Andrew Brunhart, deputy director of the US Mint, explained that metal prices will by reviewed on a weekly basis and prices of gold coins adjusted on Thursday mornings where 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.

David Bernhardt of Engle's Coin Shop told the Indy Star that more customers had been purchasing the $950 (£651) US Mint gold bullion coin in a bid to diversify their investments during the economic downturn.

 

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