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The United States Mint has implemented a new strategy for pricing numismatic products containing gold and platinum effective 12 January 2009. The change in pricing will not affect non-precious metal products and bullion coins, the US Mint reported Thursday.

According to Andy Brunhart, the United States Mint Deputy Director, the volatile precious metals market prompted them to revamp the process as per suggestions from customers.

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The Mint said that pricing of gold and platinum numismatic products will be directly related to the average weekly London fix prices for these metals. If the market value of gold and platinum moves to a higher or lower range, the price of each product will be increased or decreased in corresponding increments.

The United States Mint's new pricing formula will be more responsive to changes in the market price of gold and platinum, the report said.