Platinum American Eagle Opinions Wanted From Registry Participants

Typetone

I have always liked the design of the platinum American Eagles, and I would like to collect a PCGS certified set in one of the denominations. In your opinion, is this a good time to buy them, or is the price of platinum too high right now? From an investment standpoint do you recomend proof or mint state pieces? Do you recommend a particular denomination? Do you recommend a particular grade? Anyone want to sell any?

BTW why are they called platinum eagles? Wouldn't platinum Statue of Libertys be better?

Thank you in advance for your help.

Greg

dbldie55

They are called "Eagles" because they are bullion, and all US Bullion Coins are called "Eagles".

Cameo CC

PM Sent

Todd

Steve27

Platinum eagles have become very popular recently. Between that and the upswing in the price of the metal, prices have never been higher. Most people tend to collect the 1/10th ounce coins because they are relatively inexpensive, but watch out for the 1998 in PCGS MS69, it's an $800-$1000 coin. As to whether to collect proof or mint state, I'm not sure, there seem to be advantages/disadvantages to both.

keithdagen

I would check mintages, but I believe that the $25 and $50 are probably lower mintages than the $10 or the $100. May be wrong on that. The MS pieces look nice, but the proofs did have different reverses several years, which makes them more collectible.

Typetone

Keith:

Didn't the mint state pieces also have different reverses?

Greg

Dabigkahuna

There is a different reverse on the proof Plat Eagles for every year so far. The first year MS and PR both had the same reverse. The MS coins maintained this reverse but there is a different landscape with eagle reverse on the proofs for the last five years. This last year, 2002, was supposedly the last year of the "landscape" reverses, so the mint says.


Larry
Dabigkahuna

Typetone

Interesting about the reverses. That is something you would think I would know. Well that's what great about the Board. I definately want the different reverses, so that answers the proof vs mint state question in my mind. Where is the best source to buy these?

Greg

wondercoin

Greg: I should have a variety of the proofs available (all denominations in an assortment of dates) next week in PCGS-PR69DCAM holder, as well as a 2001 1 oz in PCGS-MS69. Let me know if you want to discuss any. Wondercoin

supercoin

I have a set of the 1oz proofs. I used to have a all of the 4pc sets that I sold about a year ago with my usual impeccable timing. You should have bought them! Personally, I like them in the original packaging rather than graded.

Their biggest problem as an "investment" I think is their expense, and the fact that there are four denominations. That turns off a lot of people who would otherwise be collectors. The demand is a fraction of the Silver Eagles, for example.

I'm hopeful that if the Vistas of Liberty (changing reverses) series really ends as scheduled that demand will pick up for the earlier coins. There's also been talk of discontinuing the Platinum Eagles altogether, but I don't know how serious that is.

TWQG

Tulving and forum member HJP will be your best prices 'bar none' for proof PCGS platinum.

dpoole

I'd definitely go with the proofs.

There are some low mintages for the MS coins, but the mintages tend to be even lower for the proof issues. Like the proofs, none of the MS coins actually circulate, so it isn't a deal like non-bullion coins, that quality MS pieces are rarer than lower-mintage proofs because so many had been lost of circulation.

Also, all the MS coins look exactly alike, from year to year, and from denomination to denomination. Boring. All you're really talking about there for value is condition rariety (like the 1998 MS69 $10).

As people have said, though, the "Vista" series on the reverse of the proofs is fantastic. The best things that mint has done for many years, IMO.

Just look at the 1998:



the 1999:



and the 2000:



for example!

I think over time these beauties will be "discovered," and will be a point of much numismatic interest. The big problem is that they cost a lot, even for bullion value. But if I were going to put together a collection of platinums, the proofs are definitely the way to go.

There WERE rumors about plats being discontinued, but this apparently is not the case. The Mint is planning a new series of reverses for the proofs. I haven't heard yet what it will be, though.

Additional caveat: there's a precious metal hype on for now because of the impending war, and plats are more costly now. You might want to wait for when prices come back down. (Years later: "Why'd I listen to dpoole!! I coulda bought those things CHEAP in 2003!!").

supercoin

dpoole, yeah just don't show the 2002!

Has the mint officially announced a new reverse series? I have mixed feelings about that, I was sorta hoping not to have to pour more money into them.

dpoole

Ah, com'on SuperC! They're pretty!!

I'll even throw in the 2001:



...and what's wrong with the 2002??

Typetone

OK. So far here is my take. Buy the proofs in PCGS 69DCAM. Probably the $25s or $50s. Actually, I like the $25s as they kind of match my $5 gold commems. But, wait for awhile as the price of platinum may well drop after the war, assuming there is a war.

Did I get it right?

Cheers

Greg

dpoole

I hope so, Greg--especially that after-the-war part!

supercoin

Ah yes, the 2002... with the eagle riding a rocket-powered witch's broomstick about to skewer a fish hawkin' a loogie while being ejected from a volcano.

Greg, I'm not sure the $25 would be significantly affected by platinum prices, the premium may outweight the few dollars difference (I haven't checked). Regarding certified, that did not (in my experience) add much to the value, at least in the past. That may have changed with them being in the registry. Still, for long-term holding, personally I'd want to have the original packaging. It's nice packaging and nice original coins/packaging might bring a premium down the road.

toothpuller

Here is a link to R & I's website where there are "sets" of the first four proofs offered. The prices seem high to me as last year I spent only a total of about $450 for the first four $10 proofs.