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LOOKS LIKE "BIG TIME" BUYING HAS SET IN ON THE 2006 PROOF PLATS
wondercoin
Posts: 16,709 ✭✭✭✭✭
As of April 3, 2006 (includes 720 sets)
1 OUNCE 1/2 OUNCE 1/4 OUNCE 1/10 OUNCE
1,119 ; 917 ; 899 ; 1,226
Figures above I believe are for first (10) days of annual sales. So, already about 900 sets out there. Compare to roughly 4,800 sets for 2004 for the entire year!
Thoughts?
Wondercoin
1 OUNCE 1/2 OUNCE 1/4 OUNCE 1/10 OUNCE
1,119 ; 917 ; 899 ; 1,226
Figures above I believe are for first (10) days of annual sales. So, already about 900 sets out there. Compare to roughly 4,800 sets for 2004 for the entire year!
Thoughts?
Wondercoin
Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.
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Comments
Even if (when) the '06 plats sell out, they are still an incredibly low mintage, as compared to other U.S. coins.
I think that a lot of people are starting to "get it" (and want it).
1 OUNCE 1/2 OUNCE 1/4 OUNCE 1/10 OUNCE
1,497 1,248 1,202 1,643
HUGE NUMBERS FOR FIRST (20) DAYS OF ANNUAL SALES. THERE ARE NOW MORE THAN 1,200 SETS OUT THERE. COMPARE TO ROUGHLY 4,800 SETS FOR 2004 FOR TH ENTIRE YEAR!
Wondercoin
Here's a warning parable for coin collectors...
<< <i>...only problem with these coins as a numismatic powerhouse is the lofty "entry" purchase price on them. >>
I agree, but see this as a double-edged sword, in that there may never be a lot of collectors of this for the reason you stated, but there never would be a lot of collectors because of the limited mintage also. '06 seems like, at this rate, it will be a sell-out, creating the possiblity that future years may attract more collectors, and that the Mint may make a few more, but, if the base metal price continues to rise, it may keep more collectors from ordering... a conundrum of sorts.
I like the idea of the base metal price rising substantially over the years, and many folks that hold Plats turn them in, some going to slab and many others hitting the quick cash "highway" so to speak. The platinum market has been tight for years and I see no real reason for this trend to stop any time soon. The metal is the "high tech" metal for the future, IMHO. Collectors will be rewarded for their patience.
BBpM
<< <i>The metal is the "high tech" metal for the future, IMHO. >>
I totally agree, BBpM. I learned quite a bit from Toneboy's "report" concerning the many uses of platinum. "High tech" usage does bode quite well, imho, for those willing to hold.
For those who missed it, here's the post dated 12/17/05:
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PLATINUM
The element platinum has many interesting facts. and qualities about it, making it a wonderful element to study. Platinum has many uses, including jewelry and coins, vessels and wire for use in laboratories, thermocouple elements, electrical contacts, corrosion- resistant equipment, dentistry, pipelines, steel piers, coats missile nose cones, and jet engine fuel nozzles. Platinum’s two main uses are in catalysts, and jewelry. Another use is in platinum coins. The U.S. mint started making platinum coins in 1997. The coins are called American Eagles. American eagle coins are broken down into four denominations. ($10, $25, $50, and $100). $10 coin has 1/10 of an ounce of pure platinum. The $25 coin has ¼ of an ounce of pure platinum. The $50 coin has ½ of an ounce of pure platinum. Finally the $100 coin has 1 ounce of pure platinum. Platinum is very expensive, and is being sold for about $1000 an ounce. Even a bottle of platinum nail polish costs about $250 a bottle.
Although, much of the world’s supply of platinum is obtained from clastic placer deposits, these places also produce considerable amounts of gold. Platinum is rarely ever found in nuggets much bigger than a pea. Platinum is just as eye appealing as gold, silver, and copper. Plus, it is a lot more valuable than all of them. Platinum is found in the earth as platinum ores. Platinum has been found in many locations including the U.S. in the states of North Carolina and California, in Quebec Canada, the Republic of South Africa, Finland, Ireland, Borneo, New South Wales, New Zealand, Brazil, Peru, and Madagascar. The main location where platinum has been found throughout the years, however is in the Ural Mountains of Russia.
The element platinum is not man made, but is found naturally. Platinum’s symbol is Pt, its atomic number is 78, and its atomic mass is 195. Platinum is in period 6, and group 10 or the transition metal series. It has a melting point of 3222 degrees F (1772 degrees C). It also has a boiling point of 6921 degrees F (3827 degrees C). Platinum develops in peridotites of plutonic rocks, where it is associated with chromite, olivine, and enstatite. Platinum’s natural form is found uncombined in alluvial deposits and has minor amounts of iridium, osmium, rhodium, and palladium. It also contains iron, copper, gold, or nickel. Platinum is a beautiful silvery white metal. It is completely unaffected by water or air at any temperature, and is insoluble in hydrochloric, and nitric acids. However, it can be dissolved when the two acids combine to form “aqua regia”. Platinum does not tarnish. In addition, it is metallic, malleable, ductile, and inert. Platinum has no biological role, and is non-toxic. It is corroded by halogens, cyanides, sulfur, and alkalis. Also, hydrogen and oxygen gas mixtures explode in the presence of platinum wire.
The first discoverer of platinum was a man named Julius Caesar Scaliger. He discovered platinum in year 1557. The place where platinum was first found was Italy. The origin of the name platinum comes from the Spanish word “platina” which means little silver. Platinum was discovered when it was being used by the pre-Columbian Indians and was later rediscovered by Antonio de Ulloa in 1735in South America.
Probably the most interesting fact that I found out about platinum is if you gathered all the platinum in the entire world, there would only be enough platinum to fill an Olympic size swimming pool, up to your knees. It is hard to believe that there is only that little platinum in the entire world. This element report has taught me a great deal about platinum, and I would love to own some platinum more than ever!
THE ABOVE SHORT PAPER WRITTEN BY MY SON justin (AGE 13) FOR HIS 8TH GRADE SCIENCE WEEKLY REPORT ON A ELEMENT OF HIS CHOICE.
Wondercoin.
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...and from the same thread, a post dated 12/20/05:
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THIS JUST IN FROM justin'S CONTINUING RESEARCH: PLATINUM'S ADDITIONAL USE IN FIGHTING CANCER!!
Article from Kitco.com website:
"The release of a new platinum-based chemotherapy treatment has come a step closer with the news that two firms have agreed a deal to co-develop and market the drug.
Following initial trials of satraplatin, which could be used to treat prostate cancer, Pharmion and GPC Biotech have announced a joint venture to commercialise the drug
Under the agreement, Pharmion is to pay GPC Biotech around $37.1 million and in return will receive the commercial rights for satraplatin in Europe, Turkey, the Middle East, Australia and New Zealand.
The joint development plan will help to fund further trials into the effectiveness of the drug, while filing a Marketing Authorisation Application and a New Drug Application to continue with the process of licensing it.
Patrick J. Mahaffy, Pharmion's president, said: "We believe that satraplatin has the potential to provide significant additional benefits in the well-characterised platinum treatment class, and we will work closely with GPC Biotech to get this vital therapy to physicians and patients as quickly as possible."
Satraplatin is the only oral platinum-based drug currently at the advanced clinical development stage and follows the continuing success of other platinum drugs used to treat cancer."
Wondercoin
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Link to entire thread
<< <i>Platinum’s natural form is found uncombined in alluvial deposits and has minor amounts of iridium, osmium, rhodium, and palladium. >>
Iridium? I was under the impression that iridium was an element not common to this planet. That the only way its found on earth is a leftover from meteor impacts. Wasen't it the thin layer of iridium spread around the globe that led to the theory that a giant meteor (astroid) was the cause of mass extinction of the dinosaurs? And if this is true, is it possible that this is also the reason that platinum is so rare on earth, and found in limited locations. A leftover from the early massive bombardment that hit the moon and earth?
Wondercoin
I got mine but...
lawnmowers?
And Mr. Registry Coin, you have it right when you said ... "Even if (when) the '06 plats sell out, they are still an incredibly low mintage, as compared to other U.S. coins. I think that a lot of people are starting to 'get it' (and want it)."
One of the things I love about these coins is the quandry they're putting the modern-bashers into. They can either admit they were wrong and eat crow, or miss out on what's obviously going to be a major rarity in US coinage, now selling peanuts. It's fun watching them squirm. Not surprisingly, many of the modern bashers are so arrogant, they would rather miss out on this great opportunity than admit they were wrong.
One last point: I regret that we've never connected on backgammon. I get on MSN game zone, at around midnight Bangkok time (noon, NY Time), in the parlor room, and play with a young woman who used to be on the boards here as "Bright Young Filipina." Figure about every other night on average. Come and join us some time and we'll have a three-country, numis-backgammon set.
Warm regards,
Just Having Fun
I'll keep looking for you. Thanks for the nice comments. It has been too long, and I always look forward to your thoughts.
The Platinum "commems" are truly breathtaking coins - this year's design is simply amazing as were the designs for 2005 and 2004. On top of that, you have mintages of 4,,800 - 7,500 on many of the coins. We just witnessed last week a very low (34.389) mintage 1993 $50 Gold Eagle PCGS-PR70DC sell at auction for nearly $37,000 with (15) different bidders. I do not believe that would have happened a few years ago. It will be interesting to see where things stand a few years from now with the Platinum coins as well.
Wondercoin
My gut feel is that the lovely 06 will outsell the 05 and 04 but the out of the gate numbers are not that strong when viewed from a historical context.
Eric
In any event, here are what I am informed to be 4/18/06 figures:
As of April 18, 2006 (includes 1197 sets)
1 OUNCE 1/2 OUNCE 1/4 OUNCE 1/10 OUNCE
1,800 1,511 1,454 1,964
Wondercoin
1 OUNCE 1/2 OUNCE 1/4 OUNCE 1/10 OUNCE
2,105 1,734 1,725 2,307
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At $1,157/oz. Platinum, you have about $2,140 of metal in these sets which the mint is selling for $2,750/set.
Wondercoin
>
> $100 3524
> $50 2905
> $25 2780
> $10 3570
Preliminary figures - not verified.
If correct, the shutting down of Proof Gold by the Mint a few weeks ago may have had an impact on Proof Platinum purchasing.
At roughly $1,300/oz, you now have more than $2,400 in base metal in these sets!!
Wondercoin
On another note, lets not forget those MS Plats to date at:
100 @ 2,500
50 @ 2,400
25 @ 2,780
10 @ 6,000
BBpM
50 @ 2,400
25 @ 2,780
10 @ 6,000
Considering that no less than (3) grading companies are slabbing First Strike(s) MS Plats this year as opposed to just PCGS last year, I am surpised the mintages are so low thus far on the MS Plats as well. Of course, I suspect $1,300/oz metal is keeping some folks from stepping up to be sure. Last year's $100 MS $100 coin sports the all time low mintage for an MS plat coin of less than 6,300 pieces. Indeed, every MS mintage for all denominations was at all time lows in 2005. Perhaps 2006 may challenge those mintages for an all time low on one or more denominations?
Wondercoin
25@1200
BBpM
Another point on this year: In 2006, the United States Mint embarks on a new, three-year series titled The Foundations of American Democracy. For the year beginning in 2006, the reverse design will feature an image emblematic of one of the three institutional foundations of our American democracy -- the Legislative, the Executive and the Judicial branches.
PS: Great looking set in hand.
$100 3909
$50 3254
$25 3104
$10 3984
INCLUDED IN ABOVE IS 2547 4 COIN SETS
Note that there was much speculation concerning the US Mint's possible repricing of these 2006 Proof Sets due to the sharp rise in Platinum prices over the past 3 months. But, Platinum has pulled back a bit over the past 7-10 days. I am aware of a few cancellations of sold sets - not sure how long it will take for the US Mint to show these returns - perhaps not until after the close of all sales?
Wondercoin
BBpM
1 OUNCE 1/2 OUNCE 1/4 OUNCE 1/10 OUNCE
3,992 3,337 3,173 4,079
I heard a couple collectors now have returned sizeable orders of Proof Platinum to the Mint- not sure when the Mint will report these returns.
Wondercoin
<< <i>I heard a couple collectors now have returned sizeable orders of Proof Platinum to the Mint- not sure when the Mint will report these returns >>
Do you know why?
Here's a warning parable for coin collectors...
I believe the US Mint provides a no question asked 30 day return policy. Platinum was $200/oz higher just a few weeks ago (and some thought was going far higher). The sets were closing in on "melt value". Not any longer.
Wondercoin
Thanks!
Here's a warning parable for coin collectors...