2004 Proof Platinum: Who's buying any?

cosmicdebris

I was thinking of a 1/4 ounce coin but $410.00

Coinerww

WOW.

coinmickey

I was definitely going to buy some but then I saw the price. The Mint has just gone way overboard. Just try selling that a few years from now. No thanks, I think I'll keep my money and use it for something a little less pricey.

wondercoin

The Mint pricing on these Platinum products (and also the spot price of Plat rising sharply as well) have created some of the lowest mintages ever on modern Eagle coinage (many of these mintages rank among the lowest mintages in decades for virtually any US Mint product coins!!) I reported on the Registry board yesterday that the FINAL revised mintage for the 2003 1 oz MS Plat Eagle was a scant 8,007 coins!! Compare this to mintages exceeding 130,000 coins in the "early years" of the platinum program - just a 1/2 dozen years earlier!! And, compare it to the nearly 9,000,000 silver eagles produced in 2003 or millions of proof coins. DOES ANYONE HERE SMELL "SLEEPER" for the 03 $100 MS Plat coin? The $5 J. Robinson Gold Commem now trades around $2,000 over US Mint issue price a half dozen years later. Meanwhile, the 2003 $100 Plat Eagle sells for about $100 over melt in PCGS-MS69!!!!!

Sorry for the digression- bottom line - the "catch 22" is that the mint priced these 2004 proof plat coins high and that might be the very reason the coin might become a very low mintage collectible down the line. Time will tell - perhaps as little as a few years

Wondercoin

boz

I've bought one each year, since 2001 for my daughters birth year bullion set. Ordered one earlier this week. At $1073.00, for the 1oz. this year, I hope Wondercoin is right.

MadMarty

That's only 4X face!!!

CoinHunter2003

Too spendy for this guy!

sliderider

Too late. Mrplatinum has them all already.

tgilliams

i read somewhere where the Mint was reviewing their platinum eagle coinage, could this be a sign of them pricing themselves out of the market and give the Mint the opportunity to opt out of the platinum eagle program, due to a steady drastic decilne in sales?

ScarsdaleCoin

I really dont see comparision of comm program coins live Jackie to bullion program coins....sure low mintage but the interest is just not there....street dealers are going to pay -10 of melt....dont get suckered in...

MrPlatinum

I'm putting in my order for 30-35 sets

17 for me, and the rest to make a couple of microscopic bucks.


My hopes I can make a complete my own set in 70


This year is going to be a tough year, if I can not make my 70DCAM within 50 sets, chances are it wont happen.

MrPlatinum

tgilliams


Their costs of making the Platinum Proofs are astronomical.


The US mint has to buy their platinum on the open market, just like any other bullion dealer.

High quality Platinum blanks that the US mint uses comes from the Perth Mint in Australia.


From what I can estimate, the US Mint only makes about a 7% profit on their platinum proof coins.

I also want to point out, that the US Mint is a business just like any other business they must make a profit to continue offering the Platinum Proofs.

If they "can" the Proof coins, by law they must kill the Mint State.

Something that I think wont happen for at least the next 2 years.

cosmicdebris

If I can get 5 of them pouch sets for the Lewis and Clark coins and then turn them around on eBay. They would pay for one 1/4 platinum proof.

FullStrike

How's this for a blast from the past?


I was thinking of a 1/4 ounce coin but $410.00

coolest

<< <i>How's this for a blast from the past?


I was thinking of a 1/4 ounce coin but $410.00 >>



Actually A few searches on e-bay and I see people asking over $10,000/oz for even more common dates. Seems outrageous to me.