<< <i>$10,000/oz or bust! Followed by a realization that there are only 16 remaining platinum eagles from the ENTIRE series!
Gritsman, that will be true if, and only if jmski falls upon hard times. >>
Ha! I DID think about you jmski and figured you'd have the last of 'em. I would probably start to cave at around $2,500 for all buy my '08 proofs, but there's some obvious flaws to that logic.
<< <i>Anyone selling sets with 2200, 2400, 2800 etc mintage coins in them for 1.4 times melt needs to get a grip. >>
I'm not suggesting anyone sell at 1.4 x melt just quoting current price trends.
What I would suggest is anyone holding AGE proofs consider selling them at what IMO are temporary crazy premiums and then reinvest funds in selected fractional 2008-W buffalos and PR/MS APEs.
Are many of you collecting the $50 Gold Buff. business strike coins? I've noticed that they all seem to be about the same price except for a 2008 that I saw sold for $2400 or so. I assumed that this was because the buyer confused the non-W coin with a 2008 W MS.
I would appreciate any thoughts on this. I never assumed that these business strike, non-W coins had much of a premium or collector value.
Thanks, Ron >>
I think the $50 2008w $25 2008w $10 2008w $5 2008w $1 2001d
I am thinking 2001P
Buffalo 5 coin type set will be a killer if they only make $50 bullion coins and proofs going forward. Hoping to put a picture of such in a 5 coin multi holder in the new moderns text by KP. Such a nice looing set with the two big coins on each end and the fractionals in the middle.
<< <i>Anyone selling sets with 2200, 2400, 2800 etc mintage coins in them for 1.4 times melt needs to get a grip. >>
I'm not suggesting anyone sell at 1.4 x melt just quoting current price trends.
What I would suggest is anyone holding AGE proofs consider selling them at what IMO are temporary crazy premiums and then reinvest funds in selected fractional 2008-W buffalos and PR/MS APEs. >>
IMO it will take 1-5 more years for general knowledge of the various 2008 rarities to become common knowledge.
We forget that 99% of general collecting public couldn't guess these various mintages within one decimile point.
Unless the mint really surprises us with some truncated production run and low mintage coins then the relative rarity of these various issues will become more and more evident with time.
I notice the PCGS price guide shows virtually no premiums on the 2006-2008 unc-w fractional gold eagles. I mean, I know they are slow to react, but this seems pretty strange to me. Thoughts?
Yes, that coin is selling between $850 and $900 for MS-69 or ungraded specimens, and something over $900 for MS-70s.
Is it not the lowest mintage saint ever?
The Satin 2008-W 1/4 ozer (not the Proof) is the Lowest Mintage American Gold Eagle - yes indeed. Not the lowest mintage Saint. They are two different animals.
Q: Are You Printing Money? Bernanke: Not Literally
Yes, that coin is selling between $850 and $900 for MS-69 or ungraded specimens, and something over $900 for MS-70s.
Is it not the lowest mintage saint ever?
The Satin 2008-W 1/4 ozer (not the Proof) is the Lowest Mintage American Gold Eagle - yes indeed. Not the lowest mintage Saint. They are two different animals. >>
$10 1999 -w gold eagle-lowest mintage gold since 1933
$10 1999 -w gold eagle-lowest mintage gold since 1933
Thanks, Eric - I keep forgetting the Unfinished Proofs, because they weren't regular issues. Your book might stir some activity in that area once the estimated mintages are made more readily available.
Recent prices on the 1/4 oz. unfinished proof 1999-W Unc are between $700 to $900 or higher for MS-69, depending on who did the certification of the grade.
Although they are technically a mint error, they fall into the category of "mint errors that look like regular issue" coins. Wierd, eh? These are one of those sleepers that should and probably will reward their owners handsomely at some point along this journey.
Q: Are You Printing Money? Bernanke: Not Literally
Remember that the 2006-2008w issues are standard blanks that are rolled in the presence on little metal balls then struck with unfinished proof dies. The only real difference is semantics. The 1999-w issues were standard blanks struck with the same unfinished proof dies. Thankfully NGC does not use the misnomer "error" coin on its slabs. We dont know if they were intentional creations by someone or a mistake. All we know is it was not Mint management's intention to strike them but then there are not supposed to be any 1913 V nickels either.
there are not supposed to be any 1913 V nickels either.
lol!
Remember that the 2006-2008w issues are standard blanks that are rolled in the presence on little metal balls then struck with unfinished proof dies. The only real difference is semantics. The 1999-w issues were standard blanks struck with the same unfinished proof dies.
Thanks, Eric. Good info! If I ever knew the exact process, I'd forgotten it.
Attention Bill Jones. Note the above.
Q: Are You Printing Money? Bernanke: Not Literally
In the upcoming text. I have pictures of NGC and PCGS 70 4 or 5 coin multi holder sets as follows:
1999-w, 2006-w, 2007-w and 2008-w $10 gold " W Mint Marked Gold" set.......good looking! 1999-w, 2006-w, 2007-w and 2008-w $5 gold " W Mint Marked Gold" set 2005, 2006-w, 2007-w, 2008-w $50 mint state Platinum date run type set. Rarest since the Pan-Pacs. 2008-w $50, $25, $10, $5 and 2001 dollar mint state buffalo 5 coin set in multi holder.
I want and am working on a $10 mint state Liberty set but Buchannon will not be out in time.
Guys these short sets look great! People like what they see that looks good with a good story behind it.
I always appreciate your info and encouragement, Eric. The bigger buffs have gotten too rich for me, but I did pick up the $10 '08 proof plat at your suggestion. I'd passed it over during the initial mint offering, but it's nice to have it tucked safely away. As for the rest, I will enjoy seeing where they go in the coming years--and look on in envy at those of you smart enough to get 4-coin buff sets!
<< <i>In the upcoming text. I have pictures of NGC and PCGS 70 4 or 5 coin multi holder sets as follows:
. . . 2005, 2006-w, 2007-w, 2008-w $50 mint state Platinum date run type set. Rarest since the Pan-Pacs. >>
Eric, are there multi holders available for the $10 Platinum date run type set as well? This set would be much more affordable than the $50 set for someone looking to start a plat collection, and would still be very scarce because the maximum number of possible sets is only 3,544.
<< <i>Remember that the 2006-2008w issues are standard blanks that are rolled in the presence on little metal balls then struck with unfinished proof dies. The only real difference is semantics. The 1999-w issues were standard blanks struck with the same unfinished proof dies. Thankfully NGC does not use the misnomer "error" coin on its slabs. We dont know if they were intentional creations by someone or a mistake. All we know is it was not Mint management's intention to strike them but then there are not supposed to be any 1913 V nickels either. >>
I agree, put a business strike '08 next to a '08W-unc. and the finish is the same. To your other point, I have seen SOME PCGS slabs w/o the error designation for the '99-W. The ICG slabs do not call it an error either.
<<$10 1999 -w gold eagle-lowest mintage gold since 1933 >>
I also recently objected to Coin World's editorial board because their pricing guide doesn't even list the two 1999 unfinished proof die eagles in their online pricing list.
I know I'm holding two slabs right here that don't say "error" so what's CW's problem?
Maybe those two coins will put my kid through college one day (or at least buy them some textbooks...assuming they're still using books by then)!!!
<< <i>I always appreciate your info and encouragement, Eric. The bigger buffs have gotten too rich for me, but I did pick up the $10 '08 proof plat at your suggestion. I'd passed it over during the initial mint offering, but it's nice to have it tucked safely away. As for the rest, I will enjoy seeing where they go in the coming years--and look on in envy at those of you smart enough to get 4-coin buff sets! >>
I am not suggesting that everyone go out and buy those issues. I assume that some of you guys have most of the parts. My point is short set collecting is a great way to go and if you have the expensive parts of a set go knock out the rest. For example. The holders of 4 coin gold buffs sets may want to go buy a buff mint state dollar in the same grade as the rest of their material.
A lot of sources don't list mintages for errors so if its not in (for example)the Red book many/most collectors will never know they even exist(or collect them along with the 06-08W's)I believe Eric prefers the $10 99W over the $5 because the 1/4oz coin is the lower mintage of the two.
<< <i>Thankfully NGC does not use the misnomer "error" coin on its slabs.
Eric, why do you object to the use of the word "Error" on the 1999 gold Eagle slabs? >>
There is nothing wrong with the coins. They have no damage. No die problems. No planchet problems. We dont know if the coins were intentional by a mint employee or not. All that can be said for certain is they are mint state w mint marked coins struck with unfinished proof dies.
Given they dont look like errors and no one inside or outside the mint seems to know who did it or why calling them errors is misleading in my view. I am not the only person that thinks so either. Julian on the PCGS board of experts holds the same basic view.
PS: Yes I like the $5 1999w and $5 2008w mint state gold eagles.
Purely from an investment standpoint, do you think you get more for your investment dollar by spending $650.00 for a 1999-W $5.00 error coin, or $1,000.00 for the $10.00 error coin?
With platinum zooming, I'm considering selling my 2007 anniversary set to raise some cash, figuring I can pick that up later since it had such high sales. The set really doesn't seem very popular.
Any flaws with my logic? (e.g. these will all hit the melting pot first and only 10 will survive!)
With platinum zooming, I'm considering selling my 2007 anniversary set to raise some cash, figuring I can pick that up later since it had such high sales. The set really doesn't seem very popular.
Any flaws with my logic?
Grits, what you're talking about includes both "transaction costs" and "opportunity cost". Firstly, you will be incurring costs to liquidate the Plat Set and to buy something else. That's the 1st consideration, the transaction cost.
Secondly, the opportunity cost is a question of what those alternative investments might be. You would be foregoing any additional price increases in the Plat Set in order to deploy those funds somewhere else.
Thus, your choice of the new investment is very critical to your decision to sell.
I think platinum is headed higher. Do you know of something else that might outperform platinum? You are talking like you want to hit a home run, when you are already rounding first base and the left fielder is still chasing the ball down the left field line.
Are you the next Babe Ruth? Can you point to a spot in the 2nd tier of the stadium and hit that ball there? If so, please share your information.
Of course, if you are using the proceeds for an item or service that is needed at this time, it's a different type of decision.
Q: Are You Printing Money? Bernanke: Not Literally
Actually, I wouldn't even consider this if I couldn't use it for something else--in this case, a new business. And it's not urgent. But I also expect platinum to head higher, and at $2K and above, it's getting pretty tempting!
I wouldn't even consider this if I couldn't use it for something else--in this case, a new business.
It's this next segment of the analysis that saddens me. Let's talk about taxes.
The platinum set represents a certain amount of profit, of which a chunk will be paid to Uncle Sam for taxes.
Therefore, after the transaction costs, the lost opportunity cost, and taxes - in order to start a new business, you are also talking about risking capital in an environment that is already hostile to business and could quite possibly become even more hostile in terms of taxes and access to capital.
Hope springs eternal, and this is America after all. I hope that your business plan is sound, your marketing research is dead-on, and your timing is right. Go get'em.
But, be careful out there - it's a jungle.
Q: Are You Printing Money? Bernanke: Not Literally
<< <i>A lot of sources don't list mintages for errors so if its not in (for example)the Red book many/most collectors will never know they even exist(or collect them along with the 06-08W's)I believe Eric prefers the $10 99W over the $5 because the 1/4oz coin is the lower mintage of the two. >>
The question is how do we get Redbook to start listing the $5 and $10 '99-W? I would guess that they will list the '06-'08 W-unc issues now that the mint finally has their sales listed on their website.
Personally, I own 40 (10 of each denom) of the first year of issue platinum proofs....and as platinum tanked (all the way back to $800/ounce) a couple of years ago, I really wished I had unloaded some of them.
Won't let that happen again...maybe I'll use the proceeds to fill a few other significant holes.
U.S. platinum and palladium exchange-traded funds launched last Friday were met with buying interest, with about 170,000 ounces of metals added in the first two trading sessions.
As of Monday, ETFS Physical Platinum Shares PPLT have bought 80,000 ounces of platinum, while the ETFS Physical Palladium Shares PALL held 90,000 ounces of palladium, a ETF Securities spokeswoman said.
**********************************************
That's a lot of ounces take off of the market in just one week, will be interesting to see if it continues.
Hm...okay, well let's turn it around. At what spot price would any of you start selling off the common date plats that are part of your collection? $2K? 3K? 5K? I'm sure it depends on your situation. For myself, with two young kids, it would seem almost irresponsible of me to hang on to the plats past a certain point. Just think about it...
<<Hm...okay, well let's turn it around. At what spot price would any of you start selling off the common date plats that are part of your collection? $2K? 3K? 5K? I'm sure it depends on your situation. For myself, with two young kids, it would seem almost irresponsible of me to hang on to the plats past a certain point. Just think about it... >>
As per Eric's advice, I think I'll most likely start TRADING my common date plats in for the scarcer plat issues of recent years, as well as some old gold and higher priced silver Uncs that I might not otherwise spring for...at least then I'd have a bit of a numismatic scarcity "hedge" working for me.
As for price...for some reason I think $2200/ounce has a nice ring to it.
<< <i>Purely from an investment standpoint, do you think you get more for your investment dollar by spending $650.00 for a 1999-W $5.00 error coin, or $1,000.00 for the $10.00 error coin? >>
They are both good but go for the quarter at $1,000 in MS-69.
At what spot price would any of you start selling off the common date plats that are part of your collection?
Personally, I think that a Plat or an AGE in-hand is the best savings account you can have. Like any savings account or rainy-day fund, I'd sell some whenever I needed to sell, but only if I needed the liquid cash.
As much as I enjoy having them, I'm not emotionally-attached to any of my coins and I will sell them in a heartbeat if my family has an important need. Until then, they are much, much better than cash or stocks or bonds, or ETFs.
Non-traditional thinking, to be sure - but these aren't the 1950's or 1960's either.
For myself, with two young kids, it would seem almost irresponsible of me to hang on to the plats past a certain point. Just think about it...
Again, it really depends on whether or not your family's needs are being met, and what your alternative places to park the money might be.
The key Plats theoretically have the best upside potential, but even the common dates could be dark horses as the meltdown/price rise begins to affect the surviving populations.
I think that any pm in any form is probably just fine as an investment right now. JMHO.
Q: Are You Printing Money? Bernanke: Not Literally
This is part of what makes the plats so fun right now--as you said, that any date can become a dark horse. I can't wait to see how it shakes out in 10 years. And I do agree that as far as savings, I'm happy to have my extra assets bundled in PMs--especially 2008 PMs(!)--instead of bank accounts!
Comments
<<Market is getting harder to read as 90% of all platinum offerings on Ebay are BIN with only rare true auctions. >>
So...with this in mind...what would be a realistic price for a 2008 Plat Unc Set in OGP (not sealed)? Enquiring minds want to know.
Check 'Completed auctions'..........sum of individual pieces and any sold sets.
I'd guess $4,000-$4,300 would be fair guess for a raw set with no obviously flawed coins.
I'll mention I had opportunity to see 20+ sets directly from mint and I closely examined the $100s and $50s.
3/4th of the larger MS coins had fairly obvious rubs, nicks and scrapes that would have knocked them out of MS70 running.
PS: The book goes to print the third week in March and is in "design" right now.
<< <i>$10,000/oz or bust! Followed by a realization that there are only 16 remaining platinum eagles from the ENTIRE series!
Gritsman, that will be true if, and only if jmski falls upon hard times.
Ha! I DID think about you jmski and figured you'd have the last of 'em. I would probably start to cave at around $2,500 for all buy my '08 proofs, but there's some obvious flaws to that logic.
And Eric, can't wait to see the book!
<< <i>Anyone selling sets with 2200, 2400, 2800 etc mintage coins in them for 1.4 times melt needs to get a grip.
>>
I'm not suggesting anyone sell at 1.4 x melt just quoting current price trends.
What I would suggest is anyone holding AGE proofs consider selling them at what IMO are temporary crazy premiums and then reinvest funds in selected fractional 2008-W buffalos and PR/MS APEs.
<< <i>
<< <i>Folks-
Are many of you collecting the $50 Gold Buff. business strike coins? I've noticed that they all seem to be about the same price except for a 2008 that I saw sold for $2400 or so. I assumed that this was because the buyer confused the non-W coin with a 2008 W MS.
I would appreciate any thoughts on this. I never assumed that these business strike, non-W coins had much of a premium or collector value.
Thanks, Ron >>
I think the
$50 2008w
$25 2008w
$10 2008w
$5 2008w
$1 2001d
I am thinking 2001P
Buffalo 5 coin type set will be a killer if they only make $50 bullion coins and proofs going forward. Hoping to put a picture of such in a 5 coin multi holder in the new moderns text by KP. Such a nice looing set with the two big coins on each end and the fractionals in the middle.
Eric >>
<< <i>
<< <i>Anyone selling sets with 2200, 2400, 2800 etc mintage coins in them for 1.4 times melt needs to get a grip.
>>
I'm not suggesting anyone sell at 1.4 x melt just quoting current price trends.
What I would suggest is anyone holding AGE proofs consider selling them at what IMO are temporary crazy premiums and then reinvest funds in selected fractional 2008-W buffalos and PR/MS APEs. >>
I agree. :-)
or are they already?
thanks,
snman
We forget that 99% of general collecting public couldn't guess these various mintages within one decimile point.
Unless the mint really surprises us with some truncated production run and low mintage coins then the relative rarity of these various issues will become more and more evident with time.
<< <i>With platinum touching $1600 today it may be time to start heating up the melting pot. >>
Time to warm up the 2008-W's?
My Adolph A. Weinman signature
or are they already?
The 1/2 oz. and 1 oz. Satin "W" Uncs are already showing signs of a lift-off.
I knew it would happen.
I notice the PCGS price guide shows virtually no premiums on the 2006-2008 unc-w fractional gold eagles. I mean, I know they are slow to react, but this seems pretty strange to me. Thoughts?
Is it not the lowest mintage saint ever?
Yes, that coin is selling between $850 and $900 for MS-69 or ungraded specimens, and something over $900 for MS-70s.
Is it not the lowest mintage saint ever?
The Satin 2008-W 1/4 ozer (not the Proof) is the Lowest Mintage American Gold Eagle - yes indeed. Not the lowest mintage Saint. They are two different animals.
I knew it would happen.
<< <i>Any movement for the 08-W 1/4 oz saint?
Yes, that coin is selling between $850 and $900 for MS-69 or ungraded specimens, and something over $900 for MS-70s.
Is it not the lowest mintage saint ever?
The Satin 2008-W 1/4 ozer (not the Proof) is the Lowest Mintage American Gold Eagle - yes indeed. Not the lowest mintage Saint. They are two different animals.
$10 1999 -w gold eagle-lowest mintage gold since 1933
Thanks, Eric - I keep forgetting the Unfinished Proofs, because they weren't regular issues. Your book might stir some activity in that area once the estimated mintages are made more readily available.
Recent prices on the 1/4 oz. unfinished proof 1999-W Unc are between $700 to $900 or higher for MS-69, depending on who did the certification of the grade.
Although they are technically a mint error, they fall into the category of "mint errors that look like regular issue" coins. Wierd, eh? These are one of those sleepers that should and probably will reward their owners handsomely at some point along this journey.
I knew it would happen.
lol!
Remember that the 2006-2008w issues are standard blanks that are rolled in the presence on little metal balls then struck with unfinished proof dies. The only real difference is semantics. The 1999-w issues were standard blanks struck with the same unfinished proof dies.
Thanks, Eric. Good info! If I ever knew the exact process, I'd forgotten it.
Attention Bill Jones. Note the above.
I knew it would happen.
1999-w, 2006-w, 2007-w and 2008-w $10 gold " W Mint Marked Gold" set.......good looking!
1999-w, 2006-w, 2007-w and 2008-w $5 gold " W Mint Marked Gold" set
2005, 2006-w, 2007-w, 2008-w $50 mint state Platinum date run type set. Rarest since the Pan-Pacs.
2008-w $50, $25, $10, $5 and 2001 dollar mint state buffalo 5 coin set in multi holder.
I want and am working on a $10 mint state Liberty set but Buchannon will not be out in time.
Guys these short sets look great! People like what they see that looks good with a good story behind it.
Pick up this stuff before the masses do.
<< <i>In the upcoming text. I have pictures of NGC and PCGS 70 4 or 5 coin multi holder sets as follows:
. . . 2005, 2006-w, 2007-w, 2008-w $50 mint state Platinum date run type set. Rarest since the Pan-Pacs. >>
Eric, are there multi holders available for the $10 Platinum date run type set as well? This set would be much more affordable than the $50 set for someone looking to start a plat collection, and would still be very scarce because the maximum number of possible sets is only 3,544.
My Adolph A. Weinman signature
<< <i>Remember that the 2006-2008w issues are standard blanks that are rolled in the presence on little metal balls then struck with unfinished proof dies. The only real difference is semantics. The 1999-w issues were standard blanks struck with the same unfinished proof dies. Thankfully NGC does not use the misnomer "error" coin on its slabs. We dont know if they were intentional creations by someone or a mistake. All we know is it was not Mint management's intention to strike them but then there are not supposed to be any 1913 V nickels either. >>
I agree, put a business strike '08 next to a '08W-unc. and the finish is the same.
To your other point, I have seen SOME PCGS slabs w/o the error designation for the '99-W. The ICG slabs do not call it an error either.
<<$10 1999 -w gold eagle-lowest mintage gold since 1933 >>
I also recently objected to Coin World's editorial board because their pricing guide doesn't even list the two 1999 unfinished proof die eagles in their online pricing list.
I know I'm holding two slabs right here that don't say "error" so what's CW's problem?
Maybe those two coins will put my kid through college one day (or at least buy them some textbooks...assuming they're still using books by then)!!!
My Adolph A. Weinman signature
dont avoid the little 1/4 oz 08-W plat unc
2,481 mintage..........
while everyone is buffalo insane......this little one is still at very affordable prices......
<< <i>Since they were actually struck at West Point, shouldn't the 1999-W unc. Gold Eagles be designated "unmissing mint mark"?
or W/(nothing)
<< <i>I always appreciate your info and encouragement, Eric. The bigger buffs have gotten too rich for me, but I did pick up the $10 '08 proof plat at your suggestion. I'd passed it over during the initial mint offering, but it's nice to have it tucked safely away. As for the rest, I will enjoy seeing where they go in the coming years--and look on in envy at those of you smart enough to get 4-coin buff sets! >>
I am not suggesting that everyone go out and buy those issues. I assume that some of you guys have most of the parts. My point is short set collecting is a great way to go and if you have the expensive parts of a set go knock out the rest. For example. The holders of 4 coin gold buffs sets may want to go buy a buff mint state dollar in the same grade as the rest of their material.
What do you think of the 1999-W $5.00 gold American Eagle error coins?
Thankfully NGC does not use the misnomer "error" coin on its slabs.
Eric, why do you object to the use of the word "Error" on the 1999 gold Eagle slabs?
2000-W Library of Congress $10 gold/platinum unc., mintage 7261, $3800.
2008-W Van Buren's Liberty $10 gold unc., mintage 4334, $800.
2008-W $50 Platinum Eagle unc., mintage 2253, $1500.
My Adolph A. Weinman signature
<< <i>Thankfully NGC does not use the misnomer "error" coin on its slabs.
Eric, why do you object to the use of the word "Error" on the 1999 gold Eagle slabs? >>
There is nothing wrong with the coins. They have no damage. No die problems. No planchet problems. We dont know if the coins were intentional by a mint employee or not. All that can be said for certain is they are mint state w mint marked coins struck with unfinished proof dies.
Given they dont look like errors and no one inside or outside the mint seems to know who did it or why calling them errors is misleading in my view. I am not the only person that thinks so either. Julian on the PCGS board of experts holds the same basic view.
PS: Yes I like the $5 1999w and $5 2008w mint state gold eagles.
Purely from an investment standpoint, do you think you get more for your investment dollar
by spending $650.00 for a 1999-W $5.00 error coin, or $1,000.00 for the $10.00 error coin?
Any flaws with my logic? (e.g. these will all hit the melting pot first and only 10 will survive!)
Any flaws with my logic?
Grits, what you're talking about includes both "transaction costs" and "opportunity cost". Firstly, you will be incurring costs to liquidate the Plat Set and to buy something else. That's the 1st consideration, the transaction cost.
Secondly, the opportunity cost is a question of what those alternative investments might be. You would be foregoing any additional price increases in the Plat Set in order to deploy those funds somewhere else.
Thus, your choice of the new investment is very critical to your decision to sell.
I think platinum is headed higher. Do you know of something else that might outperform platinum? You are talking like you want to hit a home run, when you are already rounding first base and the left fielder is still chasing the ball down the left field line.
Are you the next Babe Ruth? Can you point to a spot in the 2nd tier of the stadium and hit that ball there? If so, please share your information.
Of course, if you are using the proceeds for an item or service that is needed at this time, it's a different type of decision.
I knew it would happen.
Miles
Actually, I wouldn't even consider this if I couldn't use it for something else--in this case, a new business. And it's not urgent. But I also expect platinum to head higher, and at $2K and above, it's getting pretty tempting!
It's this next segment of the analysis that saddens me. Let's talk about taxes.
The platinum set represents a certain amount of profit, of which a chunk will be paid to Uncle Sam for taxes.
Therefore, after the transaction costs, the lost opportunity cost, and taxes - in order to start a new business, you are also talking about risking capital in an environment that is already hostile to business and could quite possibly become even more hostile in terms of taxes and access to capital.
Hope springs eternal, and this is America after all. I hope that your business plan is sound, your marketing research is dead-on, and your timing is right. Go get'em.
But, be careful out there - it's a jungle.
I knew it would happen.
<< <i>A lot of sources don't list mintages for errors so if its not in (for example)the Red book many/most collectors will never know they even exist(or collect them along with the 06-08W's)I believe Eric prefers the $10 99W over the $5 because the 1/4oz coin is the lower mintage of the two. >>
The question is how do we get Redbook to start listing the $5 and $10 '99-W? I would guess that they will list the '06-'08 W-unc issues now that the mint finally has their sales listed on their website.
Personally, I own 40 (10 of each denom) of the first year of issue platinum proofs....and as platinum tanked (all the way back to $800/ounce) a couple of years ago, I really wished I had unloaded some of them.
Won't let that happen again...maybe I'll use the proceeds to fill a few other significant holes.
exchange-traded funds launched last Friday were met with buying
interest, with about 170,000 ounces of metals added in the
first two trading sessions.
As of Monday, ETFS Physical Platinum Shares PPLT have
bought 80,000 ounces of platinum, while the ETFS Physical
Palladium Shares PALL held 90,000 ounces of palladium, a ETF
Securities spokeswoman said.
**********************************************
That's a lot of ounces take off of the market in just one week, will be interesting to see if it continues.
As per Eric's advice, I think I'll most likely start TRADING my common date plats in for the scarcer plat issues of recent years, as well as some old gold and higher priced silver Uncs that I might not otherwise spring for...at least then I'd have a bit of a numismatic scarcity "hedge" working for me.
As for price...for some reason I think $2200/ounce has a nice ring to it.
My Adolph A. Weinman signature
<< <i>Purely from an investment standpoint, do you think you get more for your investment dollar
by spending $650.00 for a 1999-W $5.00 error coin, or $1,000.00 for the $10.00 error coin? >>
They are both good but go for the quarter at $1,000 in MS-69.
Personally, I think that a Plat or an AGE in-hand is the best savings account you can have. Like any savings account or rainy-day fund, I'd sell some whenever I needed to sell, but only if I needed the liquid cash.
As much as I enjoy having them, I'm not emotionally-attached to any of my coins and I will sell them in a heartbeat if my family has an important need. Until then, they are much, much better than cash or stocks or bonds, or ETFs.
Non-traditional thinking, to be sure - but these aren't the 1950's or 1960's either.
For myself, with two young kids, it would seem almost irresponsible of me to hang on to the plats past a certain point. Just think about it...
Again, it really depends on whether or not your family's needs are being met, and what your alternative places to park the money might be.
The key Plats theoretically have the best upside potential, but even the common dates could be dark horses as the meltdown/price rise begins to affect the surviving populations.
I think that any pm in any form is probably just fine as an investment right now. JMHO.
I knew it would happen.
I knew it would happen.
The newly created platinum ETF combined with expanding automotive and industrial output is going to stretch platinum supplies thin.
It seems that gold and platinum delinked starting in late 2009 with gold up around 15% while platinum is up 25%.