<< <i>Let me reiterate, again. My question pertains to the2008-W 1/2 oz. Burnished American Gold Eagle. Not the Gold Buff, Not the Burnished Plat. Thanks. >>
Maybe all the confusion about which 1/2 oz is which is your answer jmski?
If I had to guess I would imagine that very few of the 1/2 ounce Prosperity sets have been broken up so the coins in those sets are selling separate to the singles. So until the prices rise enough to make them be broken up right now probably nobody will do it.
<< <i>Let me reiterate, again. My question pertains to the2008-W 1/2 oz. Burnished American Gold Eagle. Not the Gold Buff, Not the Burnished Plat. Thanks. >>
The reason the $25 2008-w gold eagle is trading for $1400 is you have at least two market participants that are trying to corner the market for modern mint marked $25 gold. One has a massive head start on the 2006-2007w issues. The second party is hitting the 2008-w hard early hoping to pull most of the coins that are around before they find homes. The dealer with the major head start on the 2006-2007w issues apparently does not want to be shut out on the 2008-w so he is staying competitive.
I wonder why they're not trying to corner the market on modern mint marked $10 (1/4-oz.) gold, especially considering the low (8883) mintage 2008-W burnished coin.
Or the uncirculated 2008-W Jackson's Liberty and Van Buren's Liberty (non)Spouse gold $10, both with mintages under 5000.
No doubt the mintmarked gold does have really low mintages, but when those two buyers take a breather and exit the market (even when they are holding inventory) - the market crashes EVERY time.
Happened with the 06-w 1/2, it'll happen with the 08-w 1/4. So if you are able to sell for 1,000+ per coin right now TAKE IT.
What we have seen is a quick run up, way beyond it's value on any trendline at 2 years out, within a years time.
My opinion is the coin is worth no more than $750 currently. Ebay sales have stalled at the thousand dollar mark. Quantities went unsold at 950.
I know someone will pull out of their "you know where" some sales on ebay yesterday (or recently) that are over a thousand $. But you know as well as I do, try to sell a quantity. You won't.
The reason the $25 2008-w gold eagle is trading for $1400 is you have at least two market participants that are trying to corner the market for modern mint marked $25 gold. One has a massive head start on the 2006-2007w issues. The second party is hitting the 2008-w hard early hoping to pull most of the coins that are around before they find homes. The dealer with the major head start on the 2006-2007w issues apparently does not want to be shut out on the 2008-w so he is staying competitive.
<I wonder why they're not trying to corner the market on modern mint marked $10 (1/4-oz.) gold, especially considering the low (8883) mintage 2008-W burnished coin.
Or the uncirculated 2008-W Jackson's Liberty and Van Buren's Liberty (non)Spouse gold $10, both with mintages under 5000. >
<<No doubt the mintmarked gold does have really low mintages, but when those two buyers take a breather and exit the market (even when they are holding inventory) - the market crashes EVERY time. No doubt the mintmarked gold does have really low mintages, but when those two buyers take a breather and exit the market (even when they are holding inventory) - the market crashes EVERY time.
Happened with the 06-w 1/2, it'll happen with the 08-w 1/4. So if you are able to sell for 1,000+ per coin right now TAKE IT.
What we have seen is a quick run up, way beyond it's value on any trendline at 2 years out, within a years time.
My opinion is the coin is worth no more than $750 currently. Ebay sales have stalled at the thousand dollar mark. Quantities went unsold at 950.
I know someone will pull out of their "you know where" some sales on ebay yesterday (or recently) that are over a thousand $. But you know as well as I do, try to sell a quantity. You won't.>>
Great info and good insights, guys. Thanks for responding. I'm like a mushroom, in the dark and being fed a bunch of .... when it comes to market info, lol.
My observation would be that it can't be bad for two dealers to be wrestling over any of the burnished coins at this point. Sure, they might back off in price - or they might not. A year from now, there might be 4 dealers fighting over these coins instead of just two dealers. That's the nature of a good collector's market, wouldn't you agree?
I believe that since these coins are an integral part of a nice, long series and since that series is contemporary it will continue to garner support and interest for quite some time. In the meantime, gold has every reason to continue rising, which will act as a great backstop to these double-whammy coins.
This forum, and this thread in particular has been very, very good to us. Thanks again Eric, for starting this thread, thanks to CU for hosting it, and thanks for such great input by everyone here.
Q: Are You Printing Money? Bernanke: Not Literally
What I said about the $25 W gold eagles is also true of the all the "w" $10 coins. They were just not mentioned as the prime topic. The 2008 w half was.
Does anyone know the stats for percent MS69 vs. MS70 for PCGS and NGC for the $10 2008 W AGE? I have some and am debating whether to have them graded or to sell in the sealed mint box?
IMO the golden opportunity(no pun intended) to corner the market for various MS and PR W minted APEs was in late fall 2008 when APEs were reintroduced after very limited earlier sales and significant returns.
There were several 2008-W MS/PR denominations where issue cost of entire minted populations were below 1-3 million dollars with a backup bullion value of 60-70% of acquisition cost.
<< <i>There were several 2008-W MS/PR denominations where issue cost of entire minted populations were below 1-3 million dollars with a backup bullion value of 60-70% of acquisition cost. >>
If I was a multi-millionaire, I absolutely would have tried cornering some part of the collectible platinum eagles market back in 2008. I'm really surprised nobody has tried it. Or maybe someone has, but the logistics were just too difficult. I wouldn't do it for investment purposes, but just to see if it could be done and what would happen to the market if they were all put into deep storage.
We may see an effective cornering of the mint state W gold eagle market over the next couple years. The proof plat keys also are getting bought out at prices higher than what they are going for on ebay if the quantities are large. The strong players don't buy on ebay because it drives up the price in the market quickly in a visible way. The key is to buy all the large holdings at slightly over market so you can pull large volumes without driving the cost of your next purchase up.
The large smart payers are already taking the largest positions they can as fast as they can without driving their cost sky high. This is a good thing because the faster the flippers dump the serious material into strong hands (those capable of cornering an issue) the faster the market will dry up.
Guys Jackie, Bimetalic, 1991 half once gold are all cornered markets. The pro's WILL hit these coins next.
Eric, do you think the market will be cornered on the First Spouse "Liberty" series? The Jackson and Van Buren have *way* low mintages, and the set of 4 will be complete in 2010. Prices so far do not appear to reflect actual scarcity.
Eric - But, these coins have a way of coming back on the market later - no? For example, if, hypothetically, 50% of the 2006-W $10 and $25 coins have already been placed with customers over the past 3 years, who cares if a "dealer" (or two) had "cornered the market" earlier on? The coins are now in far "weaker" hands and the dealer has already sold nearly all the coins handled. The flaw with the analysis may be to assume that a dealer is holding the coins? I have seen this with the Jefferson Missing edge dollar slabbed pieces which have now been coming back on the market a couple years later at a tiny fraction of the original asking (selling) price (and the price guide has been adjusting down and down and down accordingly). Indeed, the Jackie Robinson gold you mentioned has seriously corrected downward in the past couple years. Bid today on the BU coin is $3,300. A little over a year ago, that same bid was $4,200 (a drop of around 22% in a year when a number of other gold commems were skyrocketing). In fact, the bid in 2007 was even higher than 2008 on the Jackie, so the coin has dropped even further that that. Which is why I am generally confortable with my customers "taking profits" while the going is good on many modern coins. Just my 2 cents.
Wondercoin
"The proof plat keys also are getting bought out at prices higher than what they are going for on ebay if the quantities are large."
P.S. - I believe I currently have the highest buy prices on proof platinum in the country on the "network" right now, but I generally do not even buy them on ebay. Not because I want to keep my buy prices a secret, but, simply because I would rather pay a little more from a reputable dealer in a private deal than take my chances on ebay with a collector with little or no feedback. To those taking their chances though, no doubt there can often be some "sweet" deals.
Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.
There is no question that this kind of activity will see the coins come back on the market.
Warren Buffet says he can not "make a market" in a asset. So if he can not force his will on a market LONG TERM then then none of these other guys can either. The question is what is a coin worth on its own merit and how long will it take to get there. For example its my view that the 2008 proof plat halves in common 69 grade will eventually mature into the $3000+ price range and 70s will do better. Now if a smart buyer with a heavy wallet shows up and absorbs 1,000 unloved examples of this coin at $1200 to $1500 and then holds them personally or through a net work for 2 years what is the consequence? Easy, the market tightens up and the price reaches 3 grand faster than it would without intervention. Now if the cornering party drives the price over the long tern market norm for such a coin then any sales will drive the market back down. If the coins are driven into a full market price but not beyond it and the dump is very gradual then the price likely will not collapse back.
The cornering party was the beneficiary of a $1,500,000 total value gain. They benefit over a short period of time and the appreciation is concentrated in their hands not the market at large.
I think the "w" mint marked gold is going be priced as keys to a massive popular series regardless of the activity of a few strong hands....but what they can do is drive the market to maturity early and be the primary beneficiaries. I think the real question is what do you think is a mature price?
In my view one of the things that have slowed down the 2006-w gold is the coming of the even better 2008-w gold and the gradual realization that the 99W is a serious contender for eventual series supremacy. I have told everyone that will listen for years that Jackie and his friends are a overpriced and cornered market and to stay off them... The problem is not that their markets have been cornered but that they were over priced from a historical perspective.
I am working in a 70 set of the four coin mint state Liberty sub series. I think the Jackson and Van issues will do very well with their classic good looks and sub 5,000 mintages. I would have liked to include a 4 coin mutli slab picture in KP's new text but the fourth issue will become available way too late for that.
The Buffs have run a long way much too fast. Be very cautious with some of those issues at these prices. IMO, the $50 Unc IS the EXCEPTION. The sheeple have been pushing the proof $50 into the stratosphere, ignoring the RARE $50 unc. These two coins will invert, you dont want to be in a $5,000+ 08W $50 proof Buff.
I just don't see $500 for a raw 1/10 ounce or $900 for a raw 1/4 buffalo that far out of value at this point. The ones that have gone astronomical are the First Strike 70 coins but the rest haven't yet IMO.
<< <i>I just don't see $500 for a raw 1/10 ounce or $900 for a raw 1/4 buffalo that far out of value at this point. The ones that have gone astronomical are the First Strike 70 coins but the rest haven't yet IMO. >>
HalfStrike are you talking about the PF or MS versions or both? -Planchet
I also think the 1/4-ouncers have a long way to go with low mintages and "nickel" size. Doesn't mean they won't dive or stall in the short run, though.
The $10 buffalo unc is a mintage under 10,000 coins, and in the $5 modern commemorative series those coins under 10,000 command a premium. Add to that the buffalo coins I think are the best design to be put on a coin in many decades and also that it is pure gold color will bring high premiums.
Historically I think the prices for the 08 W buffalo coins have just started higher, at least for the raw coins. Someone did pay $900 for a $10, I am not talking the full Ebay retail prices. Even at those I am seeing prices somewhat over $1000 for the $10 coin which is not astronomical yet.
We are talking about the coin market here though so anything is possible. Could the prices drop from here? Anything happens in the coin market but I don't see it happening. I don't think the gold buffalos will wear off as long as they continue to pump out the $50 proof and bullion versions as they are at this point. The more of those that are released could bring even more demand for the fractionals.
Suppose for each 500 new buffalo gold $50 coins released brings only 1 new buffalo series collector. The 2009 bullion coins then brought in a new 400 collectors alone. With less than 10,000 coins for the 1/4 the market can't support that so prices go higher.
Impossible? I don't know but I just don't see the prices yet out of hand. The proof coins are also historically small mintages if you go by the demand shows in the 2009 proof coin, even the little $5 entry coin is less than half the mintage of the one still selling.
Anyway I think this design is the best to be released in many years and it is in pure gold that is stunning. I am stunned at how good these coins look and wish I had bought more than I had already bought. I couldn't own enough of these. Personally I haven't sold one buffalo coin especially at these prices, call me crazy but until I see much higher prices I am not selling even one coin.
<< <i> I don't think the gold buffalos will wear off as long as they continue to pump out the $50 proof and bullion versions as they are at this point. The more of those that are released could bring even more demand for the fractionals.
Suppose for each 500 new buffalo gold $50 coins released brings only 1 new buffalo series collector. The 2009 bullion coins then brought in a new 400 collectors alone. With less than 10,000 coins for the 1/4 the market can't support that so prices go higher.
Anyway I think this design is the best to be released in many years and it is in pure gold that is stunning. I am stunned at how good these coins look and wish I had bought more than I had already bought. I couldn't own enough of these. Personally I haven't sold one buffalo coin especially at these prices, call me crazy but until I see much higher prices I am not selling even one coin. >>
.............................................................................................................................................................................................. I also think the continuing issuance of 1oz. coins will be an important factor bringing in future collectors of fractionals, both the Platinum and Buffalo.
Don't know how many of you have noticed but every since the Buffalo Sets were issued there has been a constant selling of empty sets on eBay. This means the already small numbers of sets remaining in OGP is getting smaller by the day. I believe people are foolish breaking up their sets.
<< <i>Don't know how many of you have noticed but every since the Buffalo Sets were issued there has been a constant selling of empty sets on eBay. This means the already small numbers of sets remaining in OGP is getting smaller by the day. I believe people are foolish breaking up their sets. >>
We shouldnt feel so bad for those selling the empty set packaging, why?
Because they made a boatload of cash selling the parts for much more than the whole.
Most Buffalo gold right now is extremely high priced, at the tipping point, they travelled way too far, way too fast.
This doesnt mean they are improperly priced for a "muture" coin, the problem is they are nowhere near maturity.
Retail sales on ebay have topped out and plateau'd for the most part, some pricing is absolutely rediculous, if you can sell those little tenths at 500-600 - take it. If you can sell those 1/4's at 1100-1400 - take it. Back up and UNLOAD the truck of proof $50 08w Buffs at 4500-5000 and hurry!!!!
Guys, dont get caught up in the moment and think that these coins cannot fall in price. They can.
I believe Coinboy said it about 50 posts or more ago - take some money off the table. I agree.
Im not saying they are not absolutely beautiful and popular and gushing every good adjective I could about them. But they are TOO PRICEY right now.
$1100 for a 1/4 is not out of bounds yet, and also the coins may not price according to size as the 1/2 has a higher mintage. So the 1/4 may cost as much or more than than a 1/2 at some point, we just don't know.
Now what about the platinum coins? Why haven't the 2008 proof plats gone up as much as the buffalos?
I checked and even the 1/10 are going for under $400, and the 1/10 gold buffalo is barely $100 more?
I just don't think people will be unloading their buffalos, I know I am not.
Just to change topic for a moment, I checked on the PCGS website and noticed some astonishingly high prices for MS-70 examples of regular, bullion 1/2-ounce plats. I know jmski and others have alluded to these before, but is there really an active market for these? For example, PCGS lists a 1999 unc plat at $10,000! Even discounting the usual 40%, I am wondering if anyone ever really pays $6,000 for a coin like this, and what their thinking is? BTW, I do not have pop figures, but they must be very low!
Just to change topic for a moment, I checked on the PCGS website and noticed some astonishingly high prices for MS-70 examples of regular, bullion 1/2-ounce plats. I know jmski and others have alluded to these before, but is there really an active market for these? For example, PCGS lists a 1999 unc plat at $10,000! Even discounting the usual 40%, I am wondering if anyone ever really pays $6,000 for a coin like this, and what their thinking is? BTW, I do not have pop figures, but they must be very low!
The pops for early date Regular Issue Unc Plats in PCGS MS-70 are in the low single digits. I only know of one guy who might have been in that market and willing to pay those prices, but I don't know if Griv is even active anymore. He was on ebay selling what looked like some of his extras, maybe a year ago.
Now that the series has come full circle, I must admit that I like the finish treatment on the Regular Issue Unc Plats (from 1997 to 2003) the best. They are a blend of Unc and Reverse Proof, having some of the devices on Liberty in brilliant proof, but not the whole profile.
I started dabbling in the Plats in 1999, but the idea of collecting them didn't materialize for me until about 2003. Until just this year, the Mint had us running so fast forward that it was a little bit difficult to backtrack and pick up the higher mintage early dates.
This general, across-the-board price rise in all of the Plats caught me off guard a little. Some of the 1 ozers in 69 that could be had for $1450 a few short months ago are now around $1,900. You never know when a price rise like this will stick, but I anticipate that this time around, as long as bullion is strong we can't expect much of a pullback. The longer I wait to get into these earlier dates, the more I worry that it will become prohibitive to do it at all.
Either way, the Plats are impressive coins, one and all.
Q: Are You Printing Money? Bernanke: Not Literally
PS Maybe the mint only issuing 8000 2009 proof plat ounces hurt the 2008 coins. They probably could have done 20,000 or 30,000 2009 proof plats for the IRA needs and that would have looked better, but only 8000 coins is even lower than the 2007 coin mintage of 9268.
Thanks for the responses, Neo, Jmski, and Jaguars. It seems these early 70s are in uncharted territory. After ignoring the finish early on, I too really like the finish on these. I, too, have been kept running in place by later issues, however. It'll be interesting to see how these evolve collector-wise. I think jmski is correct. The high price of Pt is definitely going to keep people out of this game for a while, and when a significant number of collectors do materialize, they may not find much left to choose from!
Noticed the Ebay prices for 1 oz proof gold eagles with OGP has dropped to the 1700 to 1900 range from last months highs of around 2000 to 2100. I was wondering why they are dropping, the small drop in gold spot, or people coming to their senses about overpaying for gold for retirement accounts , or other reasons?
Comments
<< <i>Let me reiterate, again. My question pertains to the2008-W 1/2 oz. Burnished American Gold Eagle. Not the Gold Buff, Not the Burnished Plat. Thanks. >>
Maybe all the confusion about which 1/2 oz is which is your answer jmski?
<< <i>Let me reiterate, again. My question pertains to the2008-W 1/2 oz. Burnished American Gold Eagle. Not the Gold Buff, Not the Burnished Plat. Thanks. >>
The reason the $25 2008-w gold eagle is trading for $1400 is you have at least two market participants that are trying to corner the market for modern mint marked $25 gold. One has a massive head start on the 2006-2007w issues. The second party is hitting the 2008-w hard early hoping to pull most of the coins that are around before they find homes. The dealer with the major head start on the 2006-2007w issues apparently does not want to be shut out on the 2008-w so he is staying competitive.
Eric
Or the uncirculated 2008-W Jackson's Liberty and Van Buren's Liberty (non)Spouse gold $10, both with mintages under 5000.
My Adolph A. Weinman signature
Happened with the 06-w 1/2, it'll happen with the 08-w 1/4. So if you are able to sell for 1,000+ per coin right now TAKE IT.
What we have seen is a quick run up, way beyond it's value on any trendline at 2 years out, within a years time.
My opinion is the coin is worth no more than $750 currently. Ebay sales have stalled at the thousand dollar mark. Quantities went unsold at 950.
I know someone will pull out of their "you know where" some sales on ebay yesterday (or recently) that are over a thousand $. But you know as well as I do, try to sell a quantity. You won't.
<I wonder why they're not trying to corner the market on modern mint marked $10 (1/4-oz.) gold, especially considering the low (8883) mintage 2008-W burnished coin.
Or the uncirculated 2008-W Jackson's Liberty and Van Buren's Liberty (non)Spouse gold $10, both with mintages under 5000.
>
<<No doubt the mintmarked gold does have really low mintages, but when those two buyers take a breather and exit the market (even when they are holding inventory) - the market crashes EVERY time. No doubt the mintmarked gold does have really low mintages, but when those two buyers take a breather and exit the market (even when they are holding inventory) - the market crashes EVERY time.
Happened with the 06-w 1/2, it'll happen with the 08-w 1/4. So if you are able to sell for 1,000+ per coin right now TAKE IT.
What we have seen is a quick run up, way beyond it's value on any trendline at 2 years out, within a years time.
My opinion is the coin is worth no more than $750 currently. Ebay sales have stalled at the thousand dollar mark. Quantities went unsold at 950.
I know someone will pull out of their "you know where" some sales on ebay yesterday (or recently) that are over a thousand $. But you know as well as I do, try to sell a quantity. You won't.>>
Great info and good insights, guys. Thanks for responding. I'm like a mushroom, in the dark and being fed a bunch of .... when it comes to market info, lol.
My observation would be that it can't be bad for two dealers to be wrestling over any of the burnished coins at this point. Sure, they might back off in price - or they might not. A year from now, there might be 4 dealers fighting over these coins instead of just two dealers. That's the nature of a good collector's market, wouldn't you agree?
I believe that since these coins are an integral part of a nice, long series and since that series is contemporary it will continue to garner support and interest for quite some time. In the meantime, gold has every reason to continue rising, which will act as a great backstop to these double-whammy coins.
This forum, and this thread in particular has been very, very good to us. Thanks again Eric, for starting this thread, thanks to CU for hosting it, and thanks for such great input by everyone here.
I knew it would happen.
<< <i>If your buying quality coins I would not worry about it as I do not think we will see gold at 500 oz for a long time. >>
They said the same thing in 1980. Just sayin'...Mike
Thanks and Merry Christmas to all.
There were several 2008-W MS/PR denominations where issue cost of entire minted populations were below 1-3 million dollars with a backup bullion value of 60-70% of acquisition cost.
<< <i>PCGS for 2008-w $10 644@ms70 515@ms69 4@ms68 >>
THANKS!!! Does anyone have the NGC #'s?
<< <i>There were several 2008-W MS/PR denominations where issue cost of entire minted populations were below 1-3 million dollars with a backup bullion value of 60-70% of acquisition cost. >>
If I was a multi-millionaire, I absolutely would have tried cornering some part of the collectible platinum eagles market back in 2008. I'm really surprised nobody has tried it. Or maybe someone has, but the logistics were just too difficult. I wouldn't do it for investment purposes, but just to see if it could be done and what would happen to the market if they were all put into deep storage.
The large smart payers are already taking the largest positions they can as fast as they can without driving their cost sky high. This is a good thing because the faster the flippers dump the serious material into strong hands (those capable of cornering an issue) the faster the market will dry up.
Guys Jackie, Bimetalic, 1991 half once gold are all cornered markets. The pro's WILL hit these coins next.
My Adolph A. Weinman signature
Wondercoin
"The proof plat keys also are getting bought out at prices higher than what they are going for on ebay if the quantities are large."
P.S. - I believe I currently have the highest buy prices on proof platinum in the country on the "network" right now, but I generally do not even buy them on ebay. Not because I want to keep my buy prices a secret, but, simply because I would rather pay a little more from a reputable dealer in a private deal than take my chances on ebay with a collector with little or no feedback. To those taking their chances though, no doubt there can often be some "sweet" deals.
Warren Buffet says he can not "make a market" in a asset. So if he can not force his will on a market LONG TERM then then none of these other guys can either. The question is what is a coin worth on its own merit and how long will it take to get there. For example its my view that the 2008 proof plat halves in common 69 grade will eventually mature into the $3000+ price range and 70s will do better. Now if a smart buyer with a heavy wallet shows up and absorbs 1,000 unloved examples of this coin at $1200 to $1500 and then holds them personally or through a net work for 2 years what is the consequence? Easy, the market tightens up and the price reaches 3 grand faster than it would without intervention. Now if the cornering party drives the price over the long tern market norm for such a coin then any sales will drive the market back down. If the coins are driven into a full market price but not beyond it and the dump is very gradual then the price likely will not collapse back.
The cornering party was the beneficiary of a $1,500,000 total value gain. They benefit over a short period of time and the appreciation is concentrated in their hands not the market at large.
I think the "w" mint marked gold is going be priced as keys to a massive popular series regardless of the activity of a few strong hands....but what they can do is drive the market to maturity early and be the primary beneficiaries. I think the real question is what do you think is a mature price?
In my view one of the things that have slowed down the 2006-w gold is the coming of the even better 2008-w gold and the gradual realization that the 99W is a serious contender for eventual series supremacy. I have told everyone that will listen for years that Jackie and his friends are a overpriced and cornered market and to stay off them... The problem is not that their markets have been cornered but that they were over priced from a historical perspective.
On another topic, do you all think that the 2008 W Buffs are full value now and that it is a good time to sell?
<< <i>On another topic, do you all think that the 2008 W Buffs are full value now and that it is a good time to sell? >>
"Pigs get slaughtered" and "A bird in the hand is worth two in the bush" are slogans to live by in the financial/investment world.
The Buffs have run a long way much too fast. Be very cautious with some of those issues at these prices. IMO, the $50 Unc IS the EXCEPTION. The sheeple have been pushing the proof $50 into the stratosphere, ignoring the RARE $50 unc. These two coins will invert, you dont want to be in a $5,000+ 08W $50 proof Buff.
<< <i>I just don't see $500 for a raw 1/10 ounce or $900 for a raw 1/4 buffalo that far out of value at this point. The ones that have gone astronomical are the First Strike 70 coins but the rest haven't yet IMO. >>
HalfStrike
are you talking about the PF or MS versions or both? -Planchet
Historically I think the prices for the 08 W buffalo coins have just started higher, at least for the raw coins. Someone did pay $900 for a $10, I am not talking the full Ebay retail prices. Even at those I am seeing prices somewhat over $1000 for the $10 coin which is not astronomical yet.
We are talking about the coin market here though so anything is possible. Could the prices drop from here? Anything happens in the coin market but I don't see it happening. I don't think the gold buffalos will wear off as long as they continue to pump out the $50 proof and bullion versions as they are at this point. The more of those that are released could bring even more demand for the fractionals.
Suppose for each 500 new buffalo gold $50 coins released brings only 1 new buffalo series collector. The 2009 bullion coins then brought in a new 400 collectors alone. With less than 10,000 coins for the 1/4 the market can't support that so prices go higher.
Impossible? I don't know but I just don't see the prices yet out of hand. The proof coins are also historically small mintages if you go by the demand shows in the 2009 proof coin, even the little $5 entry coin is less than half the mintage of the one still selling.
Anyway I think this design is the best to be released in many years and it is in pure gold that is stunning. I am stunned at how good these coins look and wish I had bought more than I had already bought. I couldn't own enough of these. Personally I haven't sold one buffalo coin especially at these prices, call me crazy but until I see much higher prices I am not selling even one coin.
<< <i> I don't think the gold buffalos will wear off as long as they continue to pump out the $50 proof and bullion versions as they are at this point. The more of those that are released could bring even more demand for the fractionals.
Suppose for each 500 new buffalo gold $50 coins released brings only 1 new buffalo series collector. The 2009 bullion coins then brought in a new 400 collectors alone. With less than 10,000 coins for the 1/4 the market can't support that so prices go higher.
Anyway I think this design is the best to be released in many years and it is in pure gold that is stunning. I am stunned at how good these coins look and wish I had bought more than I had already bought. I couldn't own enough of these. Personally I haven't sold one buffalo coin especially at these prices, call me crazy but until I see much higher prices I am not selling even one coin. >>
..............................................................................................................................................................................................
I also think the continuing issuance of 1oz. coins will be an important factor bringing in future collectors of fractionals, both the Platinum and Buffalo.
<< <i>Don't know how many of you have noticed but every since the Buffalo Sets were issued there has been a constant selling of empty sets on eBay. This means the already small numbers of sets remaining in OGP is getting smaller by the day. I believe people are foolish breaking up their sets. >>
A slabbed AGE proof sells at a major discount without OPG and COA.
Because they made a boatload of cash selling the parts for much more than the whole.
Most Buffalo gold right now is extremely high priced, at the tipping point, they travelled way too far, way too fast.
This doesnt mean they are improperly priced for a "muture" coin, the problem is they are nowhere near maturity.
Retail sales on ebay have topped out and plateau'd for the most part, some pricing is absolutely rediculous, if you can sell those little tenths at 500-600 - take it. If you can sell those 1/4's at 1100-1400 - take it. Back up and UNLOAD the truck of proof $50 08w Buffs at 4500-5000 and hurry!!!!
Guys, dont get caught up in the moment and think that these coins cannot fall in price. They can.
I believe Coinboy said it about 50 posts or more ago - take some money off the table. I agree.
Im not saying they are not absolutely beautiful and popular and gushing every good adjective I could about them. But they are TOO PRICEY right now.
Now what about the platinum coins? Why haven't the 2008 proof plats gone up as much as the buffalos?
I checked and even the 1/10 are going for under $400, and the 1/10 gold buffalo is barely $100 more?
I just don't think people will be unloading their buffalos, I know I am not.
Teletrade 2009
$750 + juice
Teletrade 2006
$4,400 + juice
That 1999 $50 Plat is a pop 1 coin in MS70...
The pops for early date Regular Issue Unc Plats in PCGS MS-70 are in the low single digits. I only know of one guy who might have been in that market and willing to pay those prices, but I don't know if Griv is even active anymore. He was on ebay selling what looked like some of his extras, maybe a year ago.
Now that the series has come full circle, I must admit that I like the finish treatment on the Regular Issue Unc Plats (from 1997 to 2003) the best. They are a blend of Unc and Reverse Proof, having some of the devices on Liberty in brilliant proof, but not the whole profile.
I started dabbling in the Plats in 1999, but the idea of collecting them didn't materialize for me until about 2003. Until just this year, the Mint had us running so fast forward that it was a little bit difficult to backtrack and pick up the higher mintage early dates.
This general, across-the-board price rise in all of the Plats caught me off guard a little. Some of the 1 ozers in 69 that could be had for $1450 a few short months ago are now around $1,900. You never know when a price rise like this will stick, but I anticipate that this time around, as long as bullion is strong we can't expect much of a pullback. The longer I wait to get into these earlier dates, the more I worry that it will become prohibitive to do it at all.
Either way, the Plats are impressive coins, one and all.
I knew it would happen.
Well, just Love coins, period.
August 2010 American Eagle Platinum Proof Coin
I haven't read if any designs are out yet, but the concept To Establish Justice sounds like they should have four handcuffs.
The real question is, how do they figure a price for a coin like that? I mean, how do they arrive at that price?
<< <i>According to the mint schedule the 2010 proof platinum coin comes out next August.
August 2010 American Eagle Platinum Proof Coin
I haven't read if any designs are out yet, but the concept To Establish Justice sounds like they should have four handcuffs.
If there are handcuffs they should be on same 4 people pictured on 2009 coin.
I just have to think some are bidding thinking a coin is included.
I also think some of the 4 coin sets are being broken apart and sold as individual coins with individual OGP.