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Did you ever wonder how the United States Mint decides a gold price for its gold coins and other bullion products?
For the current gold price, check out the official APMEX gold price chart — which shows today’s gold bullion price, historical gold charts, and facts about gold bullion prices.
US Mint silver coins are also priced according to bullion values. However, since silver prices don’t tend to bounce around as widely as gold prices do, it’s a little less confusing to know what it costs to buy silver coins from the US Mint.
For the current gold price, check out the official APMEX silver price chart — which shows today’s silver bullion price, historical silver charts, and facts about silver bullion prices..
Why Does It Cost So Much To Buy Gold US Mint Coins?
Some collectors seem to think the U.S. Mint’s gold price is too high, claiming they charge an arm and a leg for their gold coins.
Everyone’s entitled to their own opinion, but there’s a reason the US Mint charges what it does for its gold coins and other numismatic coin products.
The U.S. Mint can’t use any tax dollars to fund its numismatic programs. Therefore, everything the Mint does in terms of producing, selling, and marketing its many collector coin programs must be done on a cost-recovery basis.
According to the U.S. Mint, officials consider these factors when pricing their coins and coin products:
- Making sure the proposed price is consistent with other similar items the Mint sells
- Finding a price that customers will feel represents a good value
- Offering the product for a price that will allow as many targeted customers as possible to buy it
- Providing enough of a cushion in price for the Mint to avoid losses if all of the product doesn’t sell and some pieces have to be melted or otherwise recycled
Is There A Cheaper Way To Buy Silver Coins & Gold Coins From The US Mint?
The short answer is: no — not really.
You see, you’ve got to be an authorized purchaser of United States Mint bullion products to begin receiving regular discounts on gold, silver, and other types of bullion coins. Even then, you’ve got to buy a lot of coins for these discounts to make a huge difference in price.
For now, the only way to get a “discount” when buying coins directly from the U.S. Mint is to take advantage of their coin subscriptions. Regular US Mint customers who enroll in product subscriptions receive free shipping — which does save some money.
One of the best ways to save money on US Mint coins is to buy them from coin dealers. Sometimes, they pass along some of the discounts they receive from buying LOTS of coins in bulk from the Mint — ultimately helping to save you a little bit of money.
Q: Will you save any money buying coins and other products directly from the Mint’s gift shops in Philadelphia, Washington DC, or Denver?
A: Buying coins from a US Mint gift shop normally only saves you on shipping, but it’s a lot of fun to buy coins in-person after a Mint tour. And… you don’t have to wait for the coins to be shipped in the mail!
More Info About US Mint Coin Prices & Values
- United States Mint Home Page
- Why The US Mint Ended Its Popular Direct-Ship Dollar Coin Program
- What Are Your Coins Worth?
- Valuable Error Coins May “Hide” In US Mint Products
I’m the Coin Editor here at TheFunTimesGuide. My love for coins began when I was 11 years old. I primarily collect and study U.S. coins produced during the 20th century. I’m a member of the American Numismatic Association (ANA) and the Numismatic Literary Guild (NLG) and have won multiple awards from the NLG for my work as a coin journalist. I’m also the editor at the Florida United Numismatists Club (FUN Topics magazine), and author of Images of America: The United States Mint in Philadelphia (a book that explores the colorful history of the Philadelphia Mint). I’ve contributed hundreds of articles for various coin publications including COINage, The Numismatist, Numismatic News, Coin Dealer Newsletter, Coin Values, and CoinWeek. I’ve authored nearly 1,000 articles here at The Fun Times Guide to Coins (many of them with over 50K shares), and I welcome your coin questions in the comments below!