Platinum Eagle Submission results in... and more than you'll probably want to read.

LincolnCentMan

I remember it like it was yesterday... no... wait... it almost was yesterday. Back in mid-December I just happen to log onto the message boards and started reading about the platinum eagle phenomena that was unfolding before us. I was plain flat broke. I looked at the posts, the energy of excitement, and the projected mintages and thought, "Dang, I need to buy some of those." So I resolved to buy a half oz. I went to the mint's web site.... dang. ALL of the fractionals were SOLD OUT. Only the one oz plats remained. That big neon, flashing, bold price tag was sitting there, $1390. Ouch. Then I went back to the message boards. I read some more. I went back to the mint site. I thought about it. I got that sinking, "Man, there's so little down side compared to the calculated risk. At worst, I'm looking at selling an oz of platinum. At best, the coins are going to take off like a roman candle." So I go get the wife. We talked about our income for the next month and resolve that we could uncomfortably afford to buy two of them. So I put two of them into my basket on the mint's web site. Dang. When you put two of them together, the price looks so much bigger than just one. Then I reminded myself of the calculated risk. I went and read the message boards some more. I went back to my mint web page basket and put those babies on the credit card. Then came the wait. I began to think that I wasnt going to get them. I watched my credit card like a hawk to make sure that everything was straight. Heck I even called my credit card company twice and made it clear beyond all understanding that they better allow that charge to go through. All this time, I was watching ebay. The prices were climbing. A couple of board members were posting prices realized for the one oz plats.

Time passed and FINALLY, my status at the mint changed to "shipped." So I'm pumped b/c these two coins were trading at about $600-$800 more than I paid. The two coins arrive on Jan. 11th, the LAST day that I could submit the coins to get a First Strike designation. I knew that I could still submit the coins "blind" in the mint sealed boxes and get the first strike designation, but I'm a coward... I WANTED to see the coins before submitting them. So I drove home, opened the boxes and took a real quick snap shot of the two coins. I then quickly signed up for PCGS, made the invoice, and packed the coins up. I went to the post office, and off they went. They were at my house all of two hours.


And so the wait began again. Man, the post office is SLOWWWWW as Christmas. Eleven days later, the coins arive at PCGS. So now I'm pumped again. I sprung for the 5-Day $50 service so I'm thinking, "Man, with econo grades going through so fast, I ought to get my grades in this week." Nope. The five days came and went. The sixth day came and I got a phone call from PCGS. Short of the long, I didnt add a $10 fee for the first strike designation. We cleared that up right before the close of business for them. The following morning, bingo my status showed the coins... but no grades. I went back and checked them an hour later. BAMM!

1 1 11379682 21124 2006-W $100 Statue of Liberty-First Strike US MS69
2 1 11379683 21124 2006-W $100 Statue of Liberty-First Strike US MS70

Ok, ok. I know that the going odds have been 50% on getting a MS70 on these. BUT, this is my first 70 to own, let-alone make. I've been really pleased with how this whole ordeal has turned out. I hate to portray that it is because of greed. It's more than that, I really see this as an opportunity for me to be able to expand my coin collection. I'm going to try to hang onto these coins for a while. I'm hoping that the growth of these coins will out-pace the growth of some of the traditional key date coins. If that's the case, I'll try to trade one of them (hopefully the 69) for a tough early traditional key-date down the road.

At any rate. Thanks to all the board members that pointed out this amazing opportunity.

-David

compromonedas

David. Can you be more specific

BECOKA

So the moral of the story is you had fun and went through a dozen stressful emotions through the process.

Good job.

LincolnCentMan

David. Can you be more specific

Let's just say that I probably feel like that dude that bought the first MS70 memorial cent.

-David

mrmom

awesome,

congrats,

08HALA20

Sweet story, and I enjoyed the read.

I have a 1/2 oz on backorder and hope I get it.


Rookie Joe

mrpaseo

I'm not sure what your trying to portray here... are yout talking about a giveaway? Man thats really nice of you. Please put my name in the hat, also, my wife would like her name in the hat, and one more for my little one, she would like one of the Platinum coins your donating

Ray

compromonedas

<< <i>David. Can you be more specific

Let's just say that I probably feel like that dude that bought the first MS70 memorial cent.

-David >>

Goldbully

My favorite line in your post...."The following morning, bingo my status showed the coins... but no grades. I go back and check them an hour later. BAMM!"

I feel your joy.........

Animalkeeper

Hoorah! Hurray for the good guys (the ones that do their homework and follow through with a plan)! I say sell the 70 and get the 69 free-and-clear with some cash to boot!

Let us know what you do!

raycyca

Thanks for sharing. I am also a long story teller because I have the passion coin collecting brings. My gold AGE sets were almost the same story with a LOT of calls to my bank then mint then bank, etc. It's such an awsome feeling just to get the coins. AND to make your first 70 after all that is an unreal felling. Many of us have felt the same when making our own 70 for the first time. Mine was last year with the West Point coin, then the AGE coins, now platinum. Many of us have had to fight and/or wait for the mint to see if we got lucky enough to get the coins at all. Congratulations and keep the spirit alive, no matter what you decide to collect. Moderns or classics, it's ALL good. Ray

notwilight

lately the odds are about 10%. You did great.

puritan9

Congratulations. I am really happy for you.