revealed March 18 that the nation's coin producer is changing its
criteria for pricing gold bullion coins.
following email was sent to the Mint's network of authorized
purchasers for American Eagle and American Buffalo gold bullion coins:
"London Gold Fix on March 20, 2015
is to inform you that on Friday, March 20, 2015 the U.S. Mint will
start using the LBMA Gold Price (PM) to price and settle all of its
gold bullion coin orders. The new gold price replaces the London Gold
Fix and will be managed by the ICE Benchmark Administration (IBA). We do not
anticipate any transition issues. Moving forward all gold bullion
transactions with the United States Mint will utilize the new LBMA
Gold Price (PM) in place of the (PM) London Gold Fix."
is the acronym for The London Bullion Market Association.
U.S. Mint does not offer a two-way market in the bullion coins it
strikes. Instead, the Mint sells the coins to network of authorized purchasers who buy the coins based on
the closing spot price of the metal on a given day, plus a small
premium. The APs may then sell the coins for a mark-up to other
dealers and the general public.
Related news: London Silver Market Fixing Company
relinquished administration of silver price fix effective Aug.