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So what does everyone think about collecting the..
ttown
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MS or Proof 2005 Platinum coins? I hear the MS bullion coins only have about 20,000 minted for all sizes so far. Buy them from the mint or wait for the after market?
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For rarity to mean anything, demand has to be there too. If you want to check this out, look at the run of quarter eagles from 1880 - 1895. A good many in there with original, business-strike, for-circulation mintages under 5,000, and for many dates the services have pops of *way* under 1,000 in any condition -- yet the only ones that draw much of a premium over type pieces from the same era are the ones with original mintages in the *hundreds*. They are truly, truly scarce in pretty much any grade -- try finding an 1894 when you want one -- but because you will probably be the only one looking, not all that crazily expensive should you ever manage to connect with one. You can have one in mint state for way under $1,000.
Now, take that logic back to these modern bullion coins. Survival will be excellent, and they will all be in perfect condition. A sizeable percentage of those sold were bought with the intention of offering them for sale shortly after production stops. Anybody who wants one will be able to find multiples available online, day or night. I see dim prospects.
I could be entirely wrong -- but I wouldn't put my own money there.
<< <i>Proof platinum is sold at too high a mark-up by the mint, but the MS coins are reasonable (even if you have to get them on the secondary market). >>
I'm not sure how the mint can justify their high mark up. I suspect they are trying to discourage collectors from buying them. Any other theories?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
I think the Platinums are an awesome looking series! Especially with the rotating reverse designs on the proofs... these coins are really cool, but the prohibitive cost of platinum keeps me from collecting these very cool coins!
I say collect what you want and what you enjoy, and who gives a damn only about scarcity?!
42/92
<< <i>In the end...they are not much more than hunks of bullion. The sets I have seen showing up at a local dealer usually sell for little more than melt (and far less than issue price.) >>
The only US Gold I have is the GAE. I bought 3 1/10 oz. for $30.00 each and a 1/4 oz. for $66.00 when gold was about $290.00. Different dealers... but I'm sure they were sick of them.
Ben
As recently as early 2002, platinum was trading in the high $400 range. Now it's very close to $900. That's a heck of a difference to pay for the same coin when it's no more rare or widely collected than it was 3 years ago.
I think the designs on the platinum coins are some of the best the mint is releasing. But ouch. There's a premium and then there's a premium.
--Severian the Lame
<< <i>Gold and silver fluctuate, but platinum is volatile, by my standards at least.
As recently as early 2002, platinum was trading in the high $400 range. Now it's very close to $900. That's a heck of a difference to pay for the same coin when it's no more rare or widely collected than it was 3 years ago.
I think the designs on the platinum coins are some of the best the mint is releasing. But ouch. There's a premium and then there's a premium.
TRUE. If I remember correctly Gold caught up with Platinum on the run up in the late 70's early 80's. I had purchased some 1999 Platinum 1/10 once in 1999 for $42 to $44 dollars each. I was considering trying to collect a set knowing most of these are bringing about $100 or a little more. With Platinum getting so high they may discontinue the series and who knows. They are cool bullion coins. I just thought I’d throw this out and see everyone response. Thanks
I never thought about certifying mine, and certifying them doesn't seem to add any value over the original mint packaging.
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<< <i>With Platinum getting so high they may discontinue the series and who knows. >>
Hmmm....I hadn't thought of this... This is a very interesting thought. To my mind, it seems quite possible.
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Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
If and when platinum drops I will go back and get the back dates which I need, but in no hurry really, will likely do the same with the gold proofs.
I collect this because I like the Platinum and Gold coins with the knowledge that one day a set might be worth a few bucks.
Collect what you like and then decide if you want the proof platinum coins.....
<< <i>Where is a good source to buy the platinum proof sets? Where is a good source for the regular platinum business strike coins? >>
I'd try Ebay for both but don't chase. There used to be bullion dealers that would list a ton of these closing the same night at about the same time. I varied my bid on 10 or 12 of these from $42 to $44 so everyone wouldn't know quite how much would outbid me. Some nights I didn't get anything, some nights I hit the jackpot and almost get too many (this was mainly in the 1/10 oz gold though, the platinum coins always sold well at those prices). Really I've been surprised that the MS bullion coins almost always make $100 or more.
It's funny how Ebay bidding works. Some nights a few bidders will bid a coin to the moon and the same week or even night you wait and get the same coin in the same grade that no one bids on.....Go figure. What happened to those that bid up the first coin?
I've never figured that one out.