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Platinum Eagles and Numismatic News...

MrEurekaMrEureka Posts: 24,394 ✭✭✭✭✭
in U.S. Coin Forum
I mentioned to Dave Harper at Numismatic News how the forum got all wound up about the Plats and wiped out the Mint's remaining inventory like a school of pirannha on a floating carcass. He wants to do a story and asks forum members to send relevant comments to him at this address. Please let him know if he can attribute your comments, or if you want to remain anonymous.

To me, the interesting thing is the way the internet has changed the dynamics of the Mint's sales cycle. But that's just me...
Andy Lustig

Doggedly collecting coins of the Central American Republic.

Visit the Society of US Pattern Collectors at USPatterns.com.

Comments

  • MilesWaitsMilesWaits Posts: 5,408 ✭✭✭✭✭
    Well Eric, THE MAN, would certainly be a source for the Forum Craze on W-Plat!

    Miles
    Now riding the swell in PM's and surf.
  • CC2GOCC2GO Posts: 664
    ...
  • MrEurekaMrEureka Posts: 24,394 ✭✭✭✭✭
    To be clear, do NOT assume that Dave Harper will pick up your comments if you post them here.

    Please e-mail to him at this address.
    Andy Lustig

    Doggedly collecting coins of the Central American Republic.

    Visit the Society of US Pattern Collectors at USPatterns.com.
  • CaptHenwayCaptHenway Posts: 32,632 ✭✭✭✭✭
    Sent.
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • FullStrikeFullStrike Posts: 4,353 ✭✭✭


    << <i> Thank God we have a couple insiders
    to help sound the warning too! >>




    And thank god we had a couple spoilers to hold back the crowds. If not for them, the big rush would have been on a couple months early and in all likelyhood the Mint would have struck up a lot more than they did. I think this forum owes a lot to the ones who tried to hold off the early stampede.

    Of course I would have no idea who any of those crowd control personel might have been.image

    image
  • GATGAT Posts: 3,146 ✭
    This might do more harm then good. It will give the impression that a large percentage of the issue fell into the hands of speculators.
    USAF vet 1951-59
  • RYKRYK Posts: 35,799 ✭✭✭✭✭


    << <i>This might do more harm then good. It will give the impression that a large percentage of the issue fell into the hands of speculators. >>



    What's wrong with that? Isn't that what has happenned? Or did all-in-sudden hundreds of forum members simultaneously decide to put together exactly ten sets of Platinum eagles?
    My Box of 20: https://pcgs.com/setregistry/collectors-showcase/box-20/ryks-gold-box-20/17132
  • notwilightnotwilight Posts: 12,864 ✭✭✭
    Sorry but I want to hear evidence of real harm. Bringing excitement, profitability, and increased interest into the hobby isn't really harm unless you want to say that for every 1000 newbies that join the hobby 11 classic coins get harmfully cleaned or something like that...or perhaps you don't think more people is necessarily good...I'm not sure I do. Traditionally, every hobby I've ever been in the leaders wanted to see more people get involved and ran programs for kids etc...we do the same with YNs...but numismatics isn't like hobbies such as astronomy where more astronomers drive telescope prices down...more collectors drive coin prices up...ok for those already hoarding but not ok for new entrants.

    Cheers,
    Jerry
  • LALASD4LALASD4 Posts: 3,602 ✭✭✭
    Today's speculators might be tomorrow's collectors.image
    Coin Collector, Chicken Owner, Licensed Tax Preparer & Insurance Broker/Agent.
    San Diego, CA


    image
  • BochimanBochiman Posts: 25,556 ✭✭✭✭✭


    << <i>

    Edited to add:
    Thank God we have a couple insiders
    to help sound the warning too! image

    And....I'm not particularly interested in my comments being "picked up" either. LOL! >>




    I'm sure any "insider" would just love that being publicized........

    I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment

  • fivecentsfivecents Posts: 11,207 ✭✭✭✭✭
    Some things are better to keep low profile. All we need are a butt load of speculators joining these boards. Looks like there could be some one hour sell outs next year after all this hoopla.
  • TrimeTrime Posts: 1,863 ✭✭✭

    Modern bullion, American eagles and speculation.
    Paraphrased quote from the 1991 movie: "Mobsters"
    "What is America about? It is about money"
    Trime
  • CC2GOCC2GO Posts: 664


    << <i>quote from the 1991 movie: "Mobsters"
    "What is America about? It is about money" >>



    Does that mean politicians are mobsters too? image
  • TrimeTrime Posts: 1,863 ✭✭✭
    "Does that mean politicians are mobsters too? "

    Different movie!
    Trime
  • CaptHenwayCaptHenway Posts: 32,632 ✭✭✭✭✭
    I think it is safe to say that the sales generated by this forum will help the hobby down the road, by increasing the number of units available to future collectors. What if we had all sat on our hands and the Mint had simply taken the 2006-W coins off sale at the end of the year? How low would the mintage/sales figures have been then?
    TD
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • 2manycoins2fewfunds2manycoins2fewfunds Posts: 3,038 ✭✭✭
    I'd stay as far away from this one as possible.
    For the record my purchases were well before any discussion started.
    It was obvious to anyone with brains that an expensive, thinly collected series introduced late in year was a potential winner.
  • ttownttown Posts: 4,472 ✭✭✭
    Well one thing is for sure if we hadn't purchased these they would be all on the Coin Vault right now for big bucks. It sounds like it took them by surprise too and most dealers before it was too late. It wouldn't take a lot of these big promoters much money to buy all the mints stock on this one.
  • pf70collectorpf70collector Posts: 6,724 ✭✭✭
    I would rather stay anonymous. I hope NN doesn't do a story on this about what happened on this forum.
    Montana State Quarter Die Clash

    Box of 20
  • JdurgJdurg Posts: 997 ✭


    << <i>

    << <i>This might do more harm then good. It will give the impression that a large percentage of the issue fell into the hands of speculators. >>



    What's wrong with that? Isn't that what has happenned? Or did all-in-sudden hundreds of forum members simultaneously decide to put together exactly ten sets of Platinum eagles? >>



    I think his intended message is that it will show that the interest in these coins was sparked by speculators and not collectors. People who are just looking to make a quick buck and have no intentions to ever really "join" the hobby. This could be bad as now when the mint releases anything, the pure speculators will purchase everything up as quick as they can and those who are in this for the fun of the hobby and not the quick buck will be unable to purchase those items. I think that is the big fear here in this situation.
    I collect the elements on the periodic table, and some coins. I have a complete Roosevelt set, and am putting together a set of coins from 1880.
  • RYKRYK Posts: 35,799 ✭✭✭✭✭


    << <i>

    << <i>

    << <i>This might do more harm then good. It will give the impression that a large percentage of the issue fell into the hands of speculators. >>



    What's wrong with that? Isn't that what has happenned? Or did all-in-sudden hundreds of forum members simultaneously decide to put together exactly ten sets of Platinum eagles? >>



    I think his intended message is that it will show that the interest in these coins was sparked by speculators and not collectors. People who are just looking to make a quick buck and have no intentions to ever really "join" the hobby. This could be bad as now when the mint releases anything, the pure speculators will purchase everything up as quick as they can and those who are in this for the fun of the hobby and not the quick buck will be unable to purchase those items. I think that is the big fear here in this situation. >>



    I understand the intended message. My impression is that these were purchased primarily by speculators, "people who are just looking to make a quick buck..."
    My Box of 20: https://pcgs.com/setregistry/collectors-showcase/box-20/ryks-gold-box-20/17132
  • CC2GOCC2GO Posts: 664


    << <i>I think his intended message is that it will show that the interest
    in these coins was sparked by speculators and not collectors. >>



    I agree! But also if speculators and collectors don't grab em'....
    DEALERS LIKE WONDERCOIN & COIN VAULT WILL!

    It seems the US Mint has become the new Ebay of coin buying snipers! image
    New motto ....... "Coin collecting! It's not just a hobby anymore!!!!"

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