Question on $10 platinum eagles

Steve27

Right now there's a lot of hype surrounding the 2002 $10 platinum eagle, due to its low mintage (18,000). But if you look at the PCGS POPs, you quickly realize that the key coin in this set is the 1998 with only 55 MS69 and 1 MS 70 (vice 1597 and 3 respectively for the 2002). Thus my question is, with a mintage of 66,000, are there still a bunch of 69s waiting to be made or was Mint quality particularly bad for this year?

nwcs

I would say most are not submitted. However, the demand for platinum as coins is not very high and those who want them likely already have what they want. They'll be tied very closely to the bullion price and not the grade.

Neil

Steve27

Neil,

Not with this coin eBay auction link. The bullion value is about $62.

nwcs

Amazing. Simply amazing. Now, I can see why some moderns in MS69 (that is, circulating issues) would bring a premium for sure. But not bullion coins.

Steve27

I'm just the opposite. Someone needs to explain to me why bullion, commemoratives, proofs, and business strikes are some how different as far as collectability is concerned.

Nysoto

I collect bust half dollars, currently there is no rarity premium required for an R.3 (201-500 known) variety. How can bullion with a mintage of 18,000, all in mint state, be considered rare?

I just won an auction with Superior for the 1805 O-110 NGC EF40 half, with only a modest premium for rarity. This variety has only six auction records in the past 10 years with only one above VF. The finest known is EF 45. That is an example of a rare coin.

Steve27

Nysoto,

Re-read the previous posts, no where is the term "rare" used except in yours.

IvanOnly

Well the main issue is this i think, out of the 18,000 minted, almost all of them would get anywhere from a MS65 to a MS69.
So why pay a premium on a coin that looks the same, grade wise, as the rest of the coins?
I would never pay a premium on a coin when almost the entire series only varies 4-5 points on the grades.

This is just my 2cp on the issue.

nwcs

More like varrying between 66 or 67 to 70.

>I'm just the opposite. Someone needs to explain to me why bullion, commemoratives, proofs, and business strikes are some how different as far as collectability is concerned

Well, all collectible really means is that it has value because someone else might want it. And the desirability of each has to be taken individually. For example, if I had a MS69 1983P Washington Quarter, I would expect it to sell for obscene money. This is because they just don't exist. No mint sets that year and who wanted to save clad? In this case, it would be a valuable piece. But again, if no one desired it, then it is not worth as much. Consider a trime. Most of the high end examples are decently affordable. Even proofs. Yet the market doesn't desire them as much as other coins. But to the one who collects trimes, a high end example might go for more than list because it is desirable to them.

Neil

wallstreetman

Nysoto, some people dont like coins that are worn, no matter how rare they are! Show two different coins to someone who doesnt know the mintages 100 years from now, the coin with no wear will excite them more! Then theres the matter of design, I havent met a single person who didnt like the SOL! DEMAND is the KEY, doesnt matter how many there are if nobody wants it!

TheNumish

There are rolls of 1998 1/10 oz eagles sitting in safety deposit boxes somewhere. All it would take is a company like Hans Tulving to get a hold of these and grade them. Then the population will jump and the premium will drop. There is no question they are out there.

Case in point. 1992 1/2 eagles had a population of less than 100 a few months ago. I sold one to David Hall rare Coins for $500 a month ago. Right now Hans Tulving has them for sale on as a special on his website for about $349 and the pop reort shows over 200 coins graded. Once more are graded it'll be a $300 coin or less.

wallstreetman

Numish, like stocks, timing is everything, they dont go straight up!

Nysoto

OK, a mintage of 18,000 is not rare, not even scarce. Grading standards change and are never consistent. I also like the design, but I would not buy one in MS69 as an investment.

Baley

ssshhh nysoto, lets just quietly keep buying pre-1836 rarities and let the buyers of the tulips, er i mean internet stocks, um i mean modern "collector coins" enjoy their hobby and the lessons they will learn


nice score on the 1805/O-110, I'd love to see a picture

TWQG

<< <i>There is no question they are out there. >>



Ask Hannes how many 98 1/10 oz. platinum pieces he gets. He's known of this 'rarity' for at least a year now and I haven't seen him offer one yet.

Ask the high bidder how many raw coins will even go 68.

I believe this is crazy money that's why I sold mine recently, but the immutable laws of supply and demand are hard to deny.