diff --git a/lms/djangoapps/commerce/api/v1/tests/test_views.py b/lms/djangoapps/commerce/api/v1/tests/test_views.py
index b45ca537cd6b..2bf2a8ed4462 100644
--- a/lms/djangoapps/commerce/api/v1/tests/test_views.py
+++ b/lms/djangoapps/commerce/api/v1/tests/test_views.py
@@ -13,11 +13,13 @@
 from django.test import TestCase
 from django.test.utils import override_settings
 from django.urls import reverse, reverse_lazy
+from opaque_keys.edx.keys import CourseKey
 from rest_framework.utils.encoders import JSONEncoder
 
 from common.djangoapps.course_modes.models import CourseMode
+from common.djangoapps.course_modes.tests.factories import CourseModeFactory
 from lms.djangoapps.verify_student.models import VerificationDeadline
-from common.djangoapps.student.tests.factories import UserFactory
+from common.djangoapps.student.tests.factories import CourseEnrollmentFactory, UserFactory
 from xmodule.modulestore.tests.django_utils import ModuleStoreTestCase
 from xmodule.modulestore.tests.factories import CourseFactory
 
@@ -190,6 +192,29 @@ def test_update(self):
         # Verify the verification deadline is updated
         self.assertEqual(VerificationDeadline.deadline_for_course(self.course.id), verification_deadline)
 
+    def test_update_min_price(self):
+        """
+        Verify CourseMode objects can have min_price updated to a min_price type float via PUT on the API.
+        """
+        new_min_price = 50.00
+        course_mode_updated = CourseMode(
+            course_id=self.course_mode.course_id,
+            mode_slug=u'verified',
+            min_price=new_min_price,
+        )
+        updated_data = self._serialize_course(self.course, [course_mode_updated])
+
+        response = self.client.put(
+            self.path,
+            data=json.dumps(updated_data),
+            content_type=JSON_CONTENT_TYPE
+        )
+        self.assertEqual(response.status_code, 200)
+
+        response_updated = json.loads(response.content.decode('utf-8'))['modes']
+        self.assertEqual(response_updated[0]['price'], int(new_min_price))
+        self.assertIsInstance(response_updated[0]['price'], int)
+
     def test_update_invalid_dates(self):
         """
         Verify the API does not allow the verification deadline to be set before the course mode upgrade deadlines.
diff --git a/lms/djangoapps/commerce/api/v1/views.py b/lms/djangoapps/commerce/api/v1/views.py
index 80d3bd7fed5d..48af5a28c0ce 100644
--- a/lms/djangoapps/commerce/api/v1/views.py
+++ b/lms/djangoapps/commerce/api/v1/views.py
@@ -12,6 +12,7 @@
 from rest_framework.authentication import SessionAuthentication
 from rest_framework.generics import ListAPIView, RetrieveUpdateAPIView
 from rest_framework.permissions import IsAuthenticated
+from rest_framework.response import Response
 from rest_framework.views import APIView
 from openedx.core.lib.api.authentication import BearerAuthentication
 
@@ -23,7 +24,7 @@
 from ...utils import is_account_activation_requirement_disabled
 from .models import Course
 from .permissions import ApiKeyOrModelPermission, IsAuthenticatedOrActivationOverridden
-from .serializers import CourseSerializer
+from .serializers import CourseSerializer, CourseModeSerializer
 
 log = logging.getLogger(__name__)
 
@@ -67,6 +68,19 @@ def pre_save(self, obj):
         # a CourseKey to a string, which is not desired.
         pass
 
+    def put(self, request, *args, **kwargs):
+        """
+        Performs a partial update of a Course/CourseMode instance.
+        """
+        course_mode = CourseMode.objects.filter(course_id=kwargs['course_id']).first()
+
+        if not isinstance(course_mode.min_price, int):
+            course_mode.min_price = int(course_mode.min_price)
+            serializer = CourseModeSerializer(course_mode, data=request.data, partial=True)
+            if serializer.is_valid(raise_exception=True):
+                serializer.save()
+                return Response(serializer.data)
+        return Response(request.data)
 
 class OrderView(APIView):
     """ Retrieve order details. """